Share prices closed higher as select blue chips were
boosted by year-end portfolio adjustments UPDATE 28/12/2006
The Kuala Lumpur Composite Index (KLCI) closed up 5.63 points or 0.52 pct at 1,088.85, a tad off the day's high of 1,089.97.
Gainers outnumbered losers 621 to 223 , with 266 stocks unchanged and 211
counters untraded.
Trading volume was 836.32 mln shares valued at 960.72 mln rgt.
Among blue chips, Genting rose 1.00 rgt to 32.50, Digi.Com added 0.40 rgt to
15.80 and Tanjong gained 0.30 rgt to 14.50.
Plantation counters Kulim, IOI Corp and and PPB Oil all gained as investors
continued to show interest in the sector on expectations that crude palm oil
prices may go up in the near term due to shortages caused by the floods recently
in the prime plantation areas of Johor and Malacca.
PPB Oil advanced 0.20 rgt to 10.60, Kulim was up 0.15 rgt to 5.15, and Kwantas
Corp moved up 0.10 rgt to 4.50.
Proton Holdings added 0.15 rgt to 6.55 following reports that the Naza Group
will make a bid for a stake in the company.
The Edge Daily reported that the Naza Group will now make its case to a cabinet
committee in a week's time on its plans for Proton after DRB-Hicom Bhd formally
presented its bid recently.
Malaysia Smelting Corp (MSC) rose 0.05 rgt to 7.40 on expectations that its
earnings would get a boost after tin prices hit record levels.

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

For CPO Market...correction must take place toward 1800 levels...



MMMM