Thursday, January 17, 2008


KLCI ends +0.5% at 1460.71, well off earlier low of 1431.42, recovering in tandem with rebound in major regional markets. It's not surprising that the market posted a positive close as yesterday's 3.5% drop was considered overdone. Gainers beat decliners 468 to 324, with stocks that were among the biggest losers yesterday like Gamuda recovering as investors hunted for bargains; KLCI tipped to remain in 1440-1480 range tomorrow as investors stay cautious, awaiting clearer direction.

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