Market Wrap: Week Ended 9th May

Buying of selected oil and plantation
stocks amidst the rise in oil prices to
a record high of US$125.9/brl helped
the KLCI to register a gain of 1.1%
to 1,285.2 points for the week.
• Most regional markets retraced on
concerns over rising inflationary
pressures after oil prices hit a record
high of US$125.9/brl on Friday.
• The local market is expected to
continue to take its cue from regional
markets as investors monitor the
outlook for economic growth and
interest rates in the U.S.
STOCKMARKET COMMENTARY

The uptrend in oil prices to a record high
of US$125.9/brl spurred buying of
selected oil and plantation stocks.
Consequently, the KLCI bucked the
decline in most regional markets with a
gain of 1.1% to 1,285.2 points for the
week.
Average daily trading volume increased
to 0.7bil units from 0.6bil units while
daily turnover in value terms rose to
RM2.0bil from RM1.2bil in the previous
week.
Most regional markets retraced on
concerns over rising inflationary
pressures after oil prices hit a record
high of US$125.9/brl on Friday. The
Hang Seng China Enterprises Index led
with a weekly decline of 6.6%.
On Wall Street, the Dow fell below
13,000 points on concerns that record
fuel prices will dampen consumer
spending. The Dow fell by 2.4% to close
at a 3-week low of 12,746 points while
the Nasdaq eased by 1.3% to 2,446
points over the week.

The Ringgit depreciated by 1.1% against
the U.S. dollar to close at RM3.1975 for
the week on unwinding of long positions
in regional currencies. On a year-to-date
basis, the Ringgit appreciated by 3.4%
against the greenback.

BOND MARKET REVIEW:
FORTNIGHT ENDED
9 MAY’08
Public Mutual’s Bond Funds Performance
09 May’08 25 Apr’08 % chng
P BOND 0.9871 0.9862 +0.1
PI BOND 1.0115 1.0104 +0.1
PIN BOND 0.9972 0.9958 +0.1
PEBF 0.9986 0.9993 -0.1
PSBF 1.0261 1.0251 +0.1
PIEBF 1.0121 1.0130 -0.1
PISBF 1.0218 1.0207 +0.1
PBFI 1.0612 1.0607 +0.05
PBIBF 1.0583 1.0566 +0.2

***Past performance should not be taken as an indication of future performance.