WSE's continuing sharp rise sparks expectation of imminent profit-taking

Strong buying by Polish pension funds pushed the Warsaw bourse's key indices sharply higher yesterday, but traders said profit-taking was likely in the d ays to come. The blue-chip WIG 20 index ended the session up 4.0% at 1,339 p oints, a level not seen since early June. Turnover soared to zl.478 million. "What is happening today is a game between pension funds. Foreign investors have also been buying some stocks for two or three days," said a Warsaw-base d trader. "It's difficult to justify such strong gains, there are no fundame ntal reasons. And I think a correction will follow soon," said a fund manage r at a Warsaw-based investment fund. (Reuters)