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IT WAS another strong day for the local stock market. Foreign buying of blue-chip stocks pushed the KLSE Composite Index (CI) 20 points higher.
THE decision by global rating agency Standard and Poor#146;s (Samp;P) to upgrade Malaysia#146;s long-term foreign currency rating (together with that of Thailand and Indonesia) must be particularly gratifying for Prime Minister Datuk Seri Dr Mahathir Mohamad.
The local stock market continued to surge strongly yesterday, propelling the KLSE Composite Index (CI) briefly above 800 points before profit-taking pulled it back below the psychologically important mark.
THE powerful gains on the KLSE in recent days, coupled with a surge in oil, gas and water stocks, have lured back packs of retailers to the trading floor. DANNY YAP and HONG BOON HOW yesterday visited some brokerages and found many happy punters there.
THE country's smooth leadership transition and the listing of Astro All Asia Networks plc next week could set the stage for another stock market surge similar to the one seen two weeks ago.
AS THE KLSE Composite Index (CI) continued its climb last week to breach the 800 mark, fund managers said they wouldn't be surprised to see the index touching 1,000 points within the next six to 12 months as more foreign funds find their way back to the bourse they had abandoned some years ago.
THE stock market welcomed the smooth transition of political leadership yesterday with the KLSE Composite Index (CI) closing five points higher at a 38-month high of 817 points despite bouts of profit taking.