Tuesday, December 04, 2007

Support 1,400

KLCI down 0.6% at 1411.31 in thin volume, off intraday low of 1408.35; selling continues to weigh market, but gains in select government-linked companies (GLCs) helping to stall decline. Decliners continue to outpace gainers 470 to 244. Among gainers, Telekom +2.7% at MYR11.60, Tenaga +1.6% at MYR9.85, Proton +4.3% at MYR3.90 and Commerce-Asset +0.9% at MYR10.90. Index tipped in 1408-1415 range for rest of day. Decline in plantation stocks and a number of construction heavyweights continue to weigh on the market. Foreign funds are net sellers, but some nibbling by local funds helps mitigate decline.


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