Kuala Lumpur shares outlook - Higher on Wall St rally, forecast-beating Q1 GDP

Kuala Lumpur shares outlook - Higher on Wall St rally, forecast-beating Q1 GDP
31/05/2007 08:06:00
KUALA LUMPUR (XFN-ASIA) - Share prices are expected to open higher following
the overnight rally on Wall Street and Malaysia's better-than-expected first
quarter GDP results, dealers said.
The central bank yesterday said the economy expanded by 5.3 pct in the first
quarter, beating market estimates of a first-quarter GDP growth of 4-5 pct.
Favourable quarterly earnings of major companies are expected to further boost
sentiment, helping ease concerns over falls in China's stock markets yesterday,
they added.
Stocks to watch today include IJM, BIMB, Kumpulan Guthrie and Sime Darby, which
may all attract buying after having announced strong quarterly earnings, dealers
said.
Yesterday, the Kuala Lumpur Composite Index (KLCI) was down 3.82 points or 0.28
pct at 1,339.18, off a low of 1,331.18.
The FTSE Bursa Malaysia 30-large cap index lost 25.10 points or 0.29 pct to
8,567.05, and the second board index fell 1.50 points or 1.48 pct to 100.06.
Losers led gainers 725 to 197, with 175 counters untraded and 237 stocks
unchanged.
Trading volume was 922.94 mln shares, valued at 1.918 bln rgt.



Source: Osk Wirenews