Wednesday, October 03, 2007

Still Positive

KLCI ends down 0.1% at 1366.96 in heavy volume with 1.74 billion shares changing hands; market retreated from intraday high of 1380.29 on profit-taking following mild pullback in some Asian bourses. Market breadth turned negative in late trade; decliners edged out gainers 555 to 318. Dealers say buying momentum may pick-up tomorrow as investors bargain hunt some blue chips and index-linked issues; tip KLCI to trade in 1360-1380 range tomorrow. Both foreign and local funds were active in today's trade, accumulating government-linked stocks in plantation and construction sectors and select heavyweights like Tenaga and Telekom. Sustained buying interest may keep the market buoyant tomorrow.


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