LAST close (July 18): 716.52 points, off 7.38 points from a week ago. Week’s high: 730.50 points; Week’s low: 710.46 points.
The KLSE Composite Index (CI) failed to expand on its early upward momentum and reversed direction on moderately active selling of key index-linked stocks to finally close the week with minor losses. Two straight weeks of downward correction on a moderately heavy volume of 1.067 billion shares caused the CI to return 27.46 points from its rally-high of 737.92 points. The minor technical retreat continues to show that the underlying strength of the index is still constructive and continuation of the technical correction this week should help the index establish a fresh based for the next spurt up.
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