Tuesday, February 05, 2008

Suicidal

KLCI closes +0.9% to 1432.35, led by plantations stocks, as investors bet earnings will benefit from record-high CPO prices. The shortage of soya is pushing demand for palm oil to unseen price levels. The benchmark CPO futures soared to record-high of almost MYR3,500/ton today. KLCI tipped to trade up to 1450 level this week, partly due to buying ahead of an expected post-Chinese New Year rally. The market will be closed Thursday-Friday for the break. Volume at 834 million shares. The stock has run-up quite a bit over the past week or so, naturally there are some profit-taking.

TOMYAM SHOPPING LIST

1 comment:

M Nazri said...

yes. there is a profit taking today. advise to take the money, and spend it during CNY.