Tuesday, November 27, 2007

Local Fund Accumulating

KLCI ends +0.1% at 1364.99 in thin volume, rising in last hour of trade as local government-linked funds accumulate property, construction, finance and select heavyweights. Market breadth remained negative; decliners outpaced gainers 526 to 252 at close. Profit-taking into strength likely to keep benchmark in 1355-1370 range. "All eyes will be on Wall Street tonight. In the immediate term, the benchmark is likely to trade with a negative bias as investors continue to grapple with the impact of the credit crunch in the U.S. and its effects on the economy.

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