New high a-coming

KLCI 20070416The Kuala Lumpur Composite Index (KLCI) inched nearer to its historical all-time high today, closing at 1,322.91. This puts the index just a whisker short of the 1,332.04 attained on 5 Jan 1994. Market analysts still put a bullish spin on the local bourse, in tune with regional gains.

Unless there is a shock on Wall Street tonight, it looks to be a foregone conclusion that we’ll see a new all-time high when the Bursa Malaysia opens tomorrow morning.

But will it be sustained or will profit-taking creep in?

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