Tuesday, February 19, 2008

Another Choppy Day

KLCI ends +0.9% at 1425.49 in moderate volume led by gains in select heavyweights, plantation stocks and some construction plays. However, market breadth turned negative with decliners outpacing gainers 389 to 293 as retail investors locked-in profits in small cap stocks and lower liners. KLCI tipped to trade in 1420-1432 (30-day moving average) tomorrow. It was a choppy day but record high crude palm oil prices helped lift plantation stocks while speculative buying interest drove construction and shares of some government-linked companies marginally higher. Investors are likely to take their cue from Wall Street's performance tonight.


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