mid day preview

Hi, for today afternoon 28/6/06 Kuala Lumpur shares end morning lower on rate, oil price concerns Share prices finished the morning lower as
concerns over interest rates continued to weigh on market sentiment, dealers
said.
As there are no major domestic news leads to support the market,
investors are focusing on the prospects for US interest rates, as oil prices
rose above 72 usd a barrel in Asian trade today, they added.
The Kuala Lumpur Composite Index (KLCI) ended the morning down 2.26
points or 0.25 pct at 905.50.
The second board index lost 0.6 points or 0.64 pct to 92.51.
Volume was 187.07 mln shares valued at 249.22 mln rgt.
Losers beat gainers 361 to 141, with 262 stocks unchanged and 548
untraded.
At midday, the ringgit was quoted at 3.6850/6870 to the US dollar.
"Sentiment remains poor -- in this kind of market, whenever the index
tries to edge up, the selling pressure sets in. We expect the market to trade
in a very tight range in the near term," a dealer at a local brokerage said.
He added that even interest in second and lower liners is very
selective.
Investors are selectively buying stocks, such as companies with new
contracts or those likely to benefit from the Ninth Malaysia Plan, he said.
Among blue chips, Tenaga was flat at 9.15 rgt on volume of 380,100
shares, Telekom Malaysia was steady at 8.95 rgt on volume of 216,500 shares,
while Maybank was down 0.10 rgt at 10.50 on volume of 303,900 shares.
Malaysian Resources Corp (MRCB) turned lower, falling 0.01 rgt to 0.75 on
volume of 8.52 mln shares. It had earlier gained on speculation that the
company would announce a move to acquire UDA Holdings shares, after UDA asked
the exchange to suspend its shares yesterday.
Iris Corp was the most actively traded stock, losing 0.01 rgt to 1.15 on
volume of 15.36 mln shares.
New listing Rimbunan Sawit was up 0.10 rgt at 1.10 rgt on volume of 8.88
mln shares, compared with its initial public offering price of 1.00 rgt.
ECM Libra Avenue was down 0.195 rgt at 0.805 on volume of 5.39 mln
shares. ECM Libra Avenue has assumed the listing status of Avenue Capital
Resources, with a reference price of 1.00 rgt.

For KLOFF we may see some rebound in late afternoon...can buy at 897.5
target 904.5 ...

CPO market will continued going down in the afternoon... target 1450...

Regard

Anthony Wong