Thursday, January 03, 2008

Sell into Strength

KLCI ends almost flat, shedding 0.3 points to 1435.38 after trading within tight 1432.83-1438.19 range in thin market. Breadth ended negative with decliners outpacing gainers 494 to 262 as profit taking weighed across a broad range of stocks following Wall Street's steep pullback overnight and record high crude oil prices. The benchmark likely to stay locked-in tight range of 1420-1440 tomorrow with downside bias. Gains in a handful of plantation stocks helped to mitigate some losses but there was very little commitment from retail players. The 'sell-into-strength' stance was maintained with very little interest in committing to fresh investments.


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