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Wednesday, December 29, 2010

BURSA MALAYSIA >>> Pre-opening Outlook 29/12/2010

Narrow Range Expected For Malaysian Shares
The Malaysian stock market has finished higher now in back-to-back sessions, adding just 6 points or 0.4 percent in that span. The Kuala Lumpur Composite Index moved just above the 1,515-point level, and analysts are forecasting a steady if unspectacular start to the trading day on Wednesday.

The global forecast for the Asian markets suggests little activity ahead of the year-end holiday, with mixed economic data out of the United States adding to the cautious sentiment. Gold is up as a safe haven, along with oil and financials, while the technology stocks and properties may fall under pressure. The European and U.S. markets were mixed in light volume and ultimately finished largely unchanged - and the Asian markets are expected to follow that pattern.

The KLCI finished slightly higher on Tuesday, thanks to limited upside from the financial shares, industrial issues and plantation stocks.

For the day, the index climbed 5.72 points or 0.38 percent to finish at 1,517.44 after trading between 1,509.55 and 1,525.99. Volume was 822.88 million shares worth 1.22 billion ringgit.

Among the actives, Sime Darby added 0.5 percent and Kuala Lumpur Kepong, Public Bank, Hong Leong Financial and Genting also finished higher. Maybank and Tenaga were unchanged, while CIMB Holdings ended lower.


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