KLCI ends down 0.9% at 1247.52 in moderate volume, snapping 8-day rally, as some investors bet recent gains in government-linked heavyweights have outpaced future earnings potential. Market breadth negative with losers outpacing gainers 509 to 230; index tipped to head towards 1226 support (8-day moving average) tomorrow in absence of positive catalysts. Local end-1Q window-dressing is likely to have been completed today. The market is turning bearish (breached 1250 psychological support) and the 'dead-cross' at the 50- and 200-day moving average marks a potential turn day.
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