Thursday, January 10, 2008

Fifteen Hundreddddddd

KLCI ends +0.1% at record high close of 1491.66 in heavy volume of 1.7 billion shares, led by gains in property stocks, blue chips and government-linked companies. Market ended off record intraday high of 1498.86 as investors locked-in gains ahead of the Muslim holiday but the benchmark likely to extend gains Friday, possibly breach 1500 psychological resistance. Both local and foreign funds were net buyers today while retail investors focused on government-linked stocks on speculation the government may call snap elections in 1H08. Ringgit's continued strength against USD also cited as catalyst; USD/MYR at 3.2650 from 3.2710 late yesterday, lowest since November 1997.


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