Monday, February 25, 2008

Dey Technical Rebound la

KLCI ends +0.1% at 1370.79 in modest volume, recovering from intraday low of 1364.56 on mild bargain-hunting by local funds, say dealers. Market breadth ended negative with decliners outpacing gainers 459 to 259 weighed down largely by selling pressure from foreign funds and short-term retail investors. Benchmark index tipped to trade within 1367 (200-day moving average) and 1380 range tomorrow. Foreign funds continued to sell into strength, taking advantage of the early strength in stocks. Hopefully there will be a technical rebound tomorrow.


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