Wednesday, February 27, 2008

Political uncertainty

KLCI ends +0.1% at 1376.62 in thin volume, led by Gamuda, as concerns over company prospects ease after Managing Director Lin Yun Ling assured investors he will stay to lead the group for at least another five years. Some 778 million shares changed hands, market breadth positive with gainers marginally beating losers 370 to 361. Benchmark index tipped to trade within 1367 (200-day moving average) and 1384 (5-day moving average) range tomorrow.General lackluster trading is due to the lack of any positive catalysts to boost the market. Most foreigners are staying on the sidelines until the political uncertainty is cleared after the elections.


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