Tuesday, March 04, 2008

What U see, Isn't What U get

KLCI ended down 1.2% at 1314.02 in thin volume, off intraday low of 1311.98. Rising concerns U.S. economy may slip into a recession, coupled with CLSA's downgrade on Malaysia late Monday weighed on investor sentiment with foreign funds leading the selloff. Market breadth negative with decliners outpacing gainers 521 to 218. Th benchmark index expected to trade in 1300 (psychological support) to 1320 range tomorrow. The global financial system is at great risk; investors are naturally wanting to move from equity holdings into cash and we've not seen the end of bad news from the U.S.

Expected to rebound toward 2.30 (resistance level - Cut loss level at 1.50


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