CI poised for mild upward correction

LAST close (April 25): 627.73 points, off 7.88 points from a week ago. Week’s high: 635.24 points; Week’s low: 622.80 points. 

The KLSE Composite Index (CI) fell on light trading in early trading and managed a mild technical turnaround toward late trading on light bargain-hunting buying of selective blue-chip stocks. Expectation that the Malaysian economic stimulus package due to be announce anytime now to counter the negative effects of the war in Iraq and Severe Acute Respiratory Syndrome would be supportive for the market encouraged some fund purchases.