Tuesday, January 08, 2008

One Thousand Five Hundreddddd

KLCI ends +1.3% at new record high of 1489.74 in heavy volume of 1.26 billion shares led by gains in construction, finance and property stocks. Market breadth positive; gainers beat decliners 597 to 245. The benchmark may rise to to test 1500 psychological resistance tomorrow. Buying interest from local funds lifted shares of government-linked companies and banking stocks. The ringgit's continued strength (USD/MYR at 3.2710, level last seen in Nov. 1997), attracted fresh buying interest from foreign funds. Notes also rise in volume traded, supported by increased participation by retail investors.


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