Wednesday, February 13, 2008


KLCI ended +0.4% at 1423.15, led by gains in government-linked companies, as investors bet they stand to benefit from election-mandated projects. PM Abdullah Ahmad Badawi announced dissolution of parliament midday Wednesday, paving way for general elections possibly in mid-March. Volume traded moderate with 1 billion shares changing hands but market breadth ended negative with losers outpacing gainers 561 to 273 as retail investors locked-in profits. Index tipped to stay in 1410-1430 range tomorrow. Historically, the market has recorded a pre-election rally and tends to hold up for 1-2 months after the actual date is announced.


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