Kuala Lumpur shares close off lows UPDATE 26/12/2006 -
- Share prices closed off their lows as
late-buying of selected blue chips helped the benchmark index recoup most of its morning losses.
The Kuala Lumpur Composite Index (KLCI) closed down 1.57 points or 0.15
pct at 1,078.15.
Losers outnumbered gainers 408 to 362, with 272 stocks unchanged and 278
counters untraded.
Trading volume was 437.74 mln shares valued at 475.79 mln rgt.
Blue chips Kuala Lumpur Kepong, Malaysian Oxygen and PPB Oil attracted
interest in late trade, helping the market's recovery, dealers said.
Kuala Lumpr Kepong closed up 0.50 rgt or 3.88 pct at 13.40, Malaysian
Oxygen added 0.30 rgt or 2.48 pct to 12.40 and PPB Oil increased 0.30 rgt or
3.06 pct to 10.10.
Other leading stocks, however, finished lower, with Tenaga, Telekom and
Maybank all shedding 0.10 rgt each to 11.20, 9.75 and 11.40 respectively.
Elsewhere, steel-related stocks were up on expectations that the
government will approve an increase in steel prices following an average 10
pct rise in cement prices, dealers said.
Choo Bee Steel Metal Industries rose 0.11 rgt or 6.04 pct to 1.93, Ann
Joo Resources gained 0.04 rgt or 2.88 pct to 1.43, Kinsteel was up 0.08 rgt
or 5.19 pct at 1.62 and Southern Steel added 0.05 rgt or 3.82 pct to 1.36.
Land & General closed sharply higher on speculation that construction
firm Bumi Hiway Bhd and businessman Chu Ma Yu are planning to buy substantial
stakes in the company.
The stock isurged 0.035 rgt or 13.73 pct to 0.29 rgt.

For tomorrow...window dressing will push up market toward 1100 points...

For CPO Market...correction must occur toward 1800 levels...

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