New IPOs and GE13 lend support


THE local bourse's key benchmark FBM KLCI shed 7.08 points or 0.45% to close at 1,573.59 on the last trading day of the week, snapping six days of gains and reflecting investors' caution on renewed worries over the eurozone sovereign debt crisis.

However, the key index seems to have held up against markets in the region with analysts pointing out that despite foreign funds selling, local funds have stepped in to support the market by buying into key bluechip stocks.

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