CI may hold firm, then slip into consolidation ..BY: By S.N. Lock ..LD: SHARE prices on Bursa Malaysia closed mixed to lower for the second consecutive week on Friday. Key heavyweight index-linked blue-chip counters continued to prop up the Kuala Lumpur C.

(From New Straits Times (Malaysia))

SHARE prices on Bursa Malaysia closed mixed to lower for the second consecutive week on Friday. Key heavyweight index-linked blue-chip counters continued to prop up the Kuala Lumpur Composite Index (CI).

Lack of fresh market leads sent the CI into a short consolidation mode during the early part of the week. Intermittent bottom-fishing activities were not good enough to lift the market out of its recent doldrums.

Retail players continued to stay on the sidelines as there were no distinctive conceptual plays on the horizon. Signs of an attempted conceptual plays on oil and gas-related counters received a lukewarm reaction.

Continuing acquisitions by these oil and gas-related counters were seen as attempts to develop these oil and gas-related counters to be the next conceptual plays to take the market out of its recent doldrums. …