Monday, November 05, 2007

Hong Kong Flu

KLCI will probably trade lower Tuesday with 1370-1390 range tipped after closing off 0.9% at 1384.73 in active trade, dragged down by weak Hong Kong stocks. The 5% decline in Hong Kong shares is likely to have spillover effect on European and U.S. stock markets and the impact is expected to continue to be felt here on Tuesday. The benchmark pegs immediate support at 1355 to 1370, which late October lows; notes selling was heavier in late trade as foreign funds dumped shares in anticipation of further decline tomorrow.


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1 comment:

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