Sunday, February 03, 2008

Nice Butt

KLCI ends +0.7% at 1393.25 in thin volume, rebounding from intraday low of 1379.97 on mild bargain-hunting in select blue chips, plantations, construction and government-linked stocks. Market breadth turned positive in late trade with gainers leading decliners 360 to 340. Market likely to drift in 1380-1420 range next week in follow through buying interest. Markets closed Friday for City day. The US Fed's move to cut rates by 50 bps overnight and weaker-than-expected fourth quarter GDP growth of 0.6% in the U.S. heightened concerns over slowing global economic growth. However, value has emerged in stocks with greater reliance on domestic consumption and local funds capitalized on this.

Due for a rebound. Cut Loss Level 40 sen.

Also due for a rebound. Cut Loss Level 25 sen


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