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(From Business Times (Malaysia))
TRUE to form, the benchmark Kuala Lumpur Stock Exchange (KLSE) Composite Index (KLCI) rose to a 10-month high to close at 725.11 last Friday, on a record daily volume not seen since three-and-a-half years ago, on February 25 2000. Last Thursday, the KLSE chalked up 1.07 billion shares.
The KLCI's weekly gain of 33.66 points is also its largest since the beginning of this year. That makes last week a significant week indeed.
But many fund managers and dealers are surprised at the speed and sharpness of last week's rally and believe this market is now overbought and a meaningful correction is in store.
In the …