Erroneous Trade Involving KLK

The FBM KLCI closed firmer yesterday on the back of key blue chip support. Some of the notable headlines for today are the Government denying Plus is up for sale, TA Enterprise set to venture into the venture capital industry, Bina Puri wins a RM185m job and KNM receiving orders worth RM155m from international clients. MISC also partnered a Vietnamese company to build a FPSO in Johor. We expect the market to remain range-bound with key support at the 1200 pt-level, with the Dow halting a 4-day losing streak to close higher overnight. There should be a short term retracement in the morning arising from the erroneous trade involving KLK yesterday which caused the share price to surge 24% in the last few minutes of trading yesterday.