KLCI Flat; Off Record High; 1585-1595 Range Tipped

The KLCI is flat at 1590.94, off of the new record high of 1595.87 set in early trade as profit-taking kicks in amid an absence of leads, a local trader says. "We are seeing some investors booking gains in some specific blue-chips. We expect the market to trade in a tight range for now," he adds. He tips a 1585-1595 range for the rest of the session. Market breadth is positive with 340 gainers vs 285 losers. Genting Malaysia (4715.KU) is up 3.4% at MYR3.91, Telekom Malaysia (4863.KU) is up 1.0% at MYR4.04 and AMMB Holdings (1015.KU) is up 0.9% at MYR6.68. Among losers MISC Bhd (3816.KU) is down 1.1% at MYR7.50 and IOI Corp. (1961.KU) is down 0.9% at MYR5.30.