KLCI up 13.93 and closed the day at 1180.31



This post has been edited by David83: Mar 15 2007, 07:06 PM

feralee, you want to take over my daily reporting job?

Today's KLCI performance:

Closed at 1192.22 after gained 10.02.

KLCI gained another 13.06 and closed at 1205.28

KLCI gained 4.06 to close today at 1209.34

KLCI hiked another 12.38 to close the today at 1221.72 level.

Seems like bull run is on its way ...

KLCI gained another 13.93 to shut this week trading at 1235.65

String of good news pulls up market

PETALING JAYA: The local stock market ended the week on a high note after a string of good news.

This included the relaxation of the foreign exchange policy, removal of real property gains tax as well as incentive packages for investors in the Iskandar Development Region (IDR).

The KL Composite Index (KLCI) closed 13.93 points, or 1.1%, higher at 1,235.65. The Second Board Index gained 0.07 point to 97.16.

About 2.1 billion shares changed hands, valued at some RM2.6bil. Gainers outnumbered losers by 470 to 421 while 257 counters were unchanged.

The rise in the index was led by heavyweights Kuala Lumpur Kepong Bhd (KLK), DiGi.com Bhd, Bumiputra-Commerce Holdings Bhd (BCHB) and IOI Corp Bhd. KLK rose 80 sen to RM11.90, DiGi edged up RM1 to RM18.80, BCB gained 20 sen to RM10, and IOI was 50 sen higher at RM19.70.

Most construction and property-related stocks, especially those with IDR exposure, also attracted strong buying interest.

Aseambankers equity research head Vincent Khoo said this week's positive sentiment "wasn't surprising", given the congregation of fund managers in the country for the Invest Malaysia 2007 conference.

"The exceptionally well-planned announcement of liberalisation and incentives is an indication of the Government's commitment to grow the economy and transform it to be more market-driven," he added.

More details on the IDR would provide "a good support base" for the positive market sentiment, Khoo said.

While "things at home look upbeat", investors could revisit worries of a slowdown in the United States, which could result in some profit taking activities, he said.

Khoo said companies with IDR exposure were expected to see better earnings but this would not happen in the near term. "The longer term trend is positive. Investors should buy on dips," he said.

A dealer with a bank-backed brokerage had similar views. He said the market was likely to remain volatile owing to the inflow and outflow of different regional funds.

"The market will continue to be news flow-driven. This week's gains have definitely closed the gap after the recent heavy selling," he said.

OSK Securities head of research Kenny Yee noted that trading volume on Bursa Malaysia was at a healthy level and there was no excessive selling pressure, while regional bourses had also stabilised.

Nonetheless, he cautioned investors to seek stocks with attractive valuations "instead of following the herd."

URL: http://biz.thestar.com.my/news/story.asp?f...87&sec=business

KLCI gained 8.67 to close at 1244.32

Man, that's a lot for first day trading!

Small gain for KLCI today:

+2.85 @ 1247.17

KLCI dropped 11.93 today and closed at the level of 1235.24

KLCi gained 0.65 today to settle at 1235.89

What's MSCI?

KLCI gained 10.98 and closed @ 1246.87

Up 10.52 to close at 1256.82

KLCI closed high today at 1271.31 after gained 14.49

KLCI up 6.17 to close today's trading at 1277.48

Nervous? The market is very unpredictable. Don't judge anything so early ...

Not +1.44 @ 1278.92