KUALA LUMPUR, Jan 9 (Bernama) -- The FBM KLCI extended its decline for a second consecutive day, as investor sentiment remained pressured by rising external risks, particularly weak economic growth in China and stronger-than-expected US economic data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.02 points, or 0.86 per cent, to 1,600.81 from Wednesday’s close of 1,614.83. The index opened 3.34 points firmer at 1,618.17 and moved between 1,600.75 and 1,618.17 throughout the day. Decliners trounced advancers 900 to 231 on the broader market, while 454 counters were unchanged, 785 untraded, and 10 others suspended. Turnover narrowed to 3.49 billion units valued at RM2.93 billion against Wednesday’s 3.59 billion units valued at RM3.06 billion UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the combination of weak Chinese economic data, robust US...
KLSE has been going down since the day Malaysia Prime Minister Datuk Seri Abdullah Ahmad Badawi announced to dissolve the Parliament and to have a General Election on the 8th of March. If we look at our bourse compare to others in the region, KLSE never go to green zone, even when the DJIA closed in green. A lot of factors contribute to this heavy selldown of KLSE. One of it is the profit taking activities by the speculators. Another would be the selling of Gamuda, which is the country's 2nd largest construction player. Datuk Lin Yun Ling cut his stake to 1.7% from 5.2%. Discussion has been going on this counter whether this could turn out to be another Transmile as Datuk Lin is not just an ordinary shareholder, but he is the MD as well. A lot of investors fear the worse has yet to come decided to even cut loss and Gamuda continue to drop. And at one point yesterday, Gamuda reach 3.78, which is very tempting. Too bad I was not around to monitor as I went for my group's teambuilding. Finally, foreign-led selling of blue chip counters also contribute to the heavy selldown of KLSE. Most of the counters in KLSE are currently at discounted price. But most investors still fear. Have we reach the bottom yet? In my opinion, if KLSE reach 1350 and cannot sustain at that point, meaning we still have yet to see the bottom. I believe we can still go down more if there is still uncertainty in our politics, so we better pray for this GE to be over as soon as possible. Until then better not catch the dagger while it is falling. The best bet currently is not to panic and cause more heavy selldown, but to hold some of most reliable counters that we won't regret holding. Warren Buffett quoted this before "Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years."
If you are seeking a Bank Guarantee (BG), SBLC for Lease or Purchase, we are the best financial institution to help you to secure verifiable and easily monetized BG, SBLC and other financial instruments. At SPOT FINANCE, we are a group of experienced bankers, seasoned brokers with years of experience in the financial instrument industry. We deal directly with reliable Providers of BG, SBLC, MT109, MT799, MT760, Loans, Sale and Lease of Financial Instruments issued by Top rated global banks.
ReplyDeleteOur procedure is TIME SAVING and transparent. With us, you can secure any denomination of BG / SBLC from 10M to 10B (EURO / USD) in time for use in Heavy / Light project financing anywhere in the world.
Basically, we are here to help you move your business to the next level.
Anticipating your interests,
Email: info.spotfinanceltd@gmail.com
Skype: spotfinanceltd
Sincere regards,
Gary Derek Beckett
SPOT FINANCE LTD