Thursday, October 25, 2007

Dollar & Wall Street Weakening

KLCI ends +1.4% at 1378.27 on local fund buying of select blue chips, plantation stocks; successful breach of 1370 resistance may pave way for market to revisit stronger resistance of 1383 (Oct high) in near-term; but of course, for the market to keep going upwards, external conditions, specifically Wall Street's performance, also needs to be supportive; KLCI to trade in 1370-1383 range short-term. Market breadth positive, with advancers outpacing decliners 504 to 319; volume moderate at 1.5 million shares.


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