Wednesday, December 05, 2007

New High

KLCI ended +0.9% at new record close of 1427.77 in moderate volume, led by gains in government-linked companies (GLC) and index linked heavyweights; buying interest largely due to local funds; market breadth positive with gainers leading decliners 602 to 241. KLCI expexted to trade in 1420-1440 range tomorrow. Despite a lack of positive leads, the market remained buoyant. Local funds supported GLC stocks in a show of support for the government and policies implemented for the transformation of GLCs. Adds, market boost may renew foreign investor confidence after recent political ripples.


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