Daily Commentaries 9th May 2008

The KLCI succumbed to selling pressure yesterday alongside regional markets after the overnight fall on Wall Street, For today, RHB Cap resumes trading after its suspension for the 25% stake acquisition by Abu Dhabi Commercial Bank at RM7.20 per share, Malaysia Airports reported strong growth in passenger numbers for March and Digi plans to expand its presence in rural areas targeting 10m new subscribers. With US markets largely flat overnight, we see the KLCI also trading rangebound with resistance at the 1300 pts level.