Daily Commentaries 13th May 2008

The Bursa Malaysia currently exhibits a 2-tier market situation. For instance, PBBANK has recorded a new all time high of RM12.00 while TIME is hovering around its all time low of RM0.215. For the KLCI per se, the index is in the midst of testing the 1300/05-resistance area especially with the help of overnight Wallstreet performance. Nonetheless, the weakness on crude oil could post some selling pressure on oil and gas as well as plantation stocks. Besides, the below-than-consensus results of MISC could possibly drag the performance of KLCI. As for corporate news, KUB Power bags a RM22.5m job and TMC Life to expand its operation in Indonesia.