Thursday, March 06, 2008

New Business Venture??

KLCI ended +1.5% at 1299.69 in thin volume, ending an 11-day losing streak, as recent selldown lowered valuations and made some stocks attractive relative to earnings potential, dealers said. Market sentiment also lifted by gains in regional bourses, boosted by overnight advance on Wall Street. Volume thin with 571 million shares changing hands; market breadth ended positive with advancers outpacing losers 481 to 239. Index tipped to trade in 1290 to 1310 band tomorrow as local funds help lift index-linked stocks and shares of government-linked companies in a show of support ahead of March. 8 general elections. The market is on a technical rebound because it's been extremely oversold. We expect some profit-taking to emerge ahead Saturday's general election but local funds may actively support the market.


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