Daily Commentaries 29th May 2008

The KLCI lost 13 points at 1260, falling through the 1271 minor support. Losers beat gainers 2 to 1 on razor thin volume of 400m. Major losers dragging the KLCI lower were Sime Darby, IOI Corp, Maybank, Genting and TM. Corporate news: other than a slew of quarterly financial results, newsflow was thin. 1Q GDP beat forecast, Bank Negara relaxed foreign currency loan, Ireka was given investment certificate in Ho Chi Minh to carry out construction works.