Weak and Angry

So were the investors, angry at the weak bursa. Puasakah?

True to my prediction, market softened up like jelly to finish up at 1336.30, hardly up a minuscule of a point (0.64). Most blue chips were down on renewed selling pressure possibly from foreign funds. However, volume was still good at 1.27 billion shares.Value was at a good RM 2.11 billion. Gainers thumped losers 428 to 401. Quite even. Gainers saw the likes of MSC up 50 sen, Alam sailing on to cap 36 sen; MMCCorp notching up 25 sen and Help needing no assistance to climb 25 sen.Losers include Tanjong which lost the bet falling by 60 sen and Shell was grounded with a 30 sen loss. Maybank succumbed to selling pressure and lost 20 sen while Tenaga weakened 15 sen.

The portfolio was mixed with JAKS and KHSB both adding 1.5 sen to 85 sen and 94.5 sen respectively. Genting added 5 sen to RM8.05. Some resistance at the RM8.00 level, though. BJ Sports Toto climbed on to the RM5.00 level again by adding two sen while AMDB added 0.5 sen to 40 sen.Metronic was unchanged at 15.5 sen while RCE slided 1.5 sen to 92 sen. Welli lost 0.5 sen to 96.5 sen while Resorts dropped off 6 sen to RM3.92 sen.

Next week can be Hari Raya bull run. With a Dow in neutral to good mood, it can happen. So we may yet see the KPS-KHSB-JAKS run. Keep your fingers crossed.

Heartsong

Struggling for dear life..........

Another bursa day gone to waste. Fortunately this is Friday which is more a bargain hunter's day. If the few blue chips have not propped up the CI, it would, like a whale, be swimming in red ink. It is about 5.9 points up to 1340+. Hope it can hold to the end.

Volume is good for a Friday at 566 million shares worth 691 million ringgits. Gainers lost to losers 298 to 334. Among gainers were Alam sailing up 26 sen. Ark floating up 25 sen,BAT flying up 25 sen and Far East moving up also 25 sen. Losers included the collapsing DFZ losing 46 sen, CIMA dropping 30 sen, Ann Joo going down 24 sen and Stemlife sliding 12 sen.

The portfolio is good as far as the KPS linked counters are concerned. JAKS is good at 86.5 sen up 3 sen, KHSB is also up at 95.5 sen up 2.5 sen as well. Metronic upped 0.5 sen to 16 sen. Genting added 5 sen to RM8.05 while Resorts added 2 sen to RM4.00 and RCE lost 1.5 sen sen to 92 sen. AMDB added 0.5 sen to 40 sen. Welli is at its overnight level of 97 sen. BJ Sports Toto dropped 2 sen to RM4.96.

I expect the market to soften in the afternoon as more profit-taking and force selling take place after 4 p.m.

Heartsong

Are We to be Devour by the Bear?

The whole world seems to be in euphoria. Global markets are extending their gains. Indices are moving closer to levels before the sub-prime fiasco in late July-mid August 2007. Every one seems to have forgotten the gripping fears that almost impaled them.

In today's situation, best to be cautious. Wall Street is a house of cards because the sub-prime is just being covered under a thick woolen carpet. It will rear its head. Question is when. So like the salmon, do not be devour by the approaching bear!

Taking the cue from New York, Bursa rallied to close up 14.77 points bringing the CI to 1335. Gainers thumped losers 584 to 242. Gainers were Lion Div shooting up 60 sen, CIMA adding 50 sen;DFZ recovering 50 sen and PPerdana notching up 56 sen. Losers were Quality losing 25 sen, Far East sliding 25 sen as well,Glenealy dropping 12 sen and Dutch Lady falling 10 sen.

The portfolio was fairly mixed. Genting which rallied all day succumbed to profit taking in the afternoon to close unchanged at RM8.00. Metronic,AMDB and KHSB closed unchange as well at 15.5 sen,39.5 sen and 93 sen. Welli added 0.5 sen 97 sen while JAKS upped 1.5 sen to 83.5 sen. Resorts added 4 sen to RM3.98 while BJ Sports Toto climbed 12 sen to RM4.98 ex- dividend-the tenacity of this share counter is unbelievable! Meanwhile RCE lost 3.5 sen to 93.5 sen.

As the afternoon session did not see strong gains and tomorrow is Friday, Bursa may just maintained its momentum if Dow is good tonight. Forced selling may appear on RCE and if there is no follow-up buying, RCE should easily fell another 3 sen.

Heartsong

Off and Running!

One of the better morning sessions. Good running start like that pair of mutts up there. CI was brought to a good level of 1334.91 by a double digit gain of 14.02 points. Gainers clobbered losers 481 to 232. Volume was fabulous at 688 million shares and value was excellent at RM1.03 billion.

Among gainers were Lion Div upping 70 sen; UMW revving up 40 sen, PPerdana

leaping up by 40 sen as well and F&N gaining 30 sen. Losing were Quality off 25 sen;DFZ dropping 16 sen, Kwantas falling 15 sen and Dutch Lady down 10 sen.

The portfolio was mixed to better. Genting continued to move upwards adding another 10 sen to RM8.10. BJ Sports Toto similarly added 10 sen ex-dividend to RM4.96. JAKS saw some action adding 2 sen while KHSB move up a sen to 94 sen. Metronic recovered 0.5 sen to 16 sen. AMDB and Resorts stayed at their overnight levels of 39.5 sen and RM3.94 sen. Meanwhile, Welli lost a sen to 95.5 sen and RCE dropped 2.5 sen to 94.5 sen.

I believe the local GLCs are still buying until a week before Hari Raya. So market should be good. With the support of Dow Jones, Bursa should move up incrementally to bring more joy to investors, day traders and speculators.

My hope is the move-up should be more broad-based and not be limited to the blue chips level.

Heartsong

Lukewarm Response

The smile of the girl above may brighten anyone's day. Bursa's performance today may elicit perhaps a cheeky snicker at best. CI ended at 1320.89, up 4.46 points. Gainers trounced losers 535 to 318. Volume was below par at 872 million shares. Value was good at RM1.56 billion signaling blue chip buys.

Among gainers were BAT which gained a rnggit; Digi which clinched 90 sen;VADS which took in 55 sen and Lion Div which tacked on 40 sen. Losers included Pharma which lost 32 sen; Commerce which gave up 30 sen,Petgas which dropped 30 sen as well and Shell which slided 20 sen.

Genting led the portfolio by pushing the envelope, adding 30 sen to RM8.00. RCE Capital topped up 9.5 sen to 97 sen while KHSB added 6 sen to RM93 sen. JAKS and AMDB both added a sen to 82 sen and 39.5 sen respectively. Meanwhile, Resorts added 4 sen to RM3.94 while Welli added 0.5 sen to 96.5 sen. Metronic slided further by 0.5 sen to 15.5 sen.

If Dow Jones is okay tonight, expect Bursa to move up marginally tomorrow.

Heartsong

Mostly local support...

I believe the foreign fund managers are still selling into strength. I believe the Hari Raya run is intact. I believe the well-heeled politically punters are in for a good short game. So watch out for volume play. And watch out for the blue chips that is normally supported by PNB and EPF such as Maybank, TM,TNB,PBB,Commerce, Sime and other plantation stocks.

Also expect them to play construction and property stocks particularly UEM stable companies, Equine and MRCB.

Market close marginally higher at 1320 points, up 3.71 points. Gainers lost to losers 328 to 311 .Volume has also shrunk somewhat a wee bit to 427 million shares worth RM 651 million. Among gainers were heavy weight BAT jumping up 75 sen, Digi putting on 60 sen;WCT topping up 40 sen and Sime Darby ascending 40 sen as well. Losers were hardly traded UEM-stabled Pharma losing 32 sen, AHPlant dropping 20 sen, Commerce sliding 20 sen and TNB dimming off 10 sen.

Portfolio was mix. Genting continue climbing, this time adding 25 sen to RM7.95. Resorts added 2 sen to RM3.92 while RCE added 8 sen to 95.5 sen. At their overnight levels were comatose Metronics at 16 sen, AMDB at 38.5 sen,KHSB at 87 sen and Welli at 96 sen. JAKS dropped a sen to 80 sen.

GLCs may still be support-buying the so-called royal blues but generally I expect more profit taking in the afternoon to trim gains. Speculative stocks may be lower at the close.

Heartsong

Running Out of Steam...

Well, it was one of those days. Dow was down and so there was no direction to follow. Bursa charted its own path and went up initially. It has slowed down at the close upping the CI by 5.39 points to 1322.63. Gainers were overtaken by losers 402 to 279. Volume continued to be good and so is value. Some 562 million shares changed hands valued at a good RM883 million. Good breadth.

At the noon close; gainers included Digi moving far ahead with another 50 sen gain.Kinstel is still up, this time by another 35 sen. PPB has also joined the bandwagon putting on 30 sen while Sime is pushed up 20 sen. Bursa which was a glory warrior yesterday dropped 40 sen while Asiafile got filed down 15 sen. Engtex suffered a 10.5 sen loss while Shell declined 10 sen.

The portfolio was quite alright. RCE sprang into action adding 5 sen to 89.5 sen while Resorts added 4 sen to RM3.94. Adding 10 sen to RM7.75 was Genting. Metronic was sidelined at its overnight level of 16 sen while Welli and AMDB both gave up 0.5 sen each to 96.5 and 38.5 sen respectively. Meanwhile, JAKS dropped a sen to 82 sen.

I believe market is in a holding position and there may be some bargain hunting over speculative counters in the afternoon. For the blues, day is done.

Heartsong

Wouldn't It Be Lovely....?

So I was right. Bursa was at the starting block and it did a commendable performance in the afternoon session to add a fabulous 11.3 points to up the CI to 1317.24 points. Now, all we need is a conservative marginal strengthening of the index to encourage the return of foreign funds because Bursa is still relatively cheap.

Gainers swept away losers 515 to 314. Volume was excellent at 1.14 million shares worth a noteworthy RM1.82 billion. Bursa has returned with some dignity.Among gainers were the bellwether Bursa counter itself shooting stars with a RM1.10 sen gain.Kinstel loaded on 70 sen while Gamuda rode in with a 55 sen gain. Digi rang in 50 sen.

Losers were GPlus shedding 53 sen;BAT dropping 50 sen, Lion Div losing 30 sen and Commerce going down 20 sen. Among blue chips, Maybank added 10 sen on continuous buying support and TNB jumed 45 sen. TM was unchanged at RM9.55 while Sime topped up 25 sen. So it is quite clear the GLCs are in the market buying up blue chips. Individuals and groups who buy now may make a small fortune if the market runs-up for Hari Raya and Deepavali.

The portfolio performed fairly well. Resorts World added 6 sen to RM3.90 while Berjaya Sports Toto added 2 sen to RM5.00. JAKS and RCE both added 0.5 sen to 83 sen and 84.5 sen respectively. At overnight level was Metronic at 16 sen. Welli dropped 2 sen to 97 sen while Genting lost 10 sen to RM7.65

I believe if Dow performs well tonight there will be a follow through of light blues and speculative stocks such as KPS,JAKS, KHSB and AMDB on bursa tomorrow.

Heartsong

On the Starting Block Again....

After a long stalemate, Bursa may perhaps be in a position of take-off. The Bursa counter seems to be attracting strong buying support ending 90 sen up. May be the futures are providing the buying signal for the advent of the whole market. My take is the foreign fund selling is about to abate.

So, if the majority of the first board starts turning green, it means market is starting to move. Like the pretty girl in the photo up there, we should also start smiling. I see a very good support buying of Maybank. There is still some selling of Commerce and TM. Otherwise market is consolidating quite well. It may also mean that this is the Hari Raya mini bull run or fake bull run. Well-heeled UMNO putras are possibly buying into Maybank and other blue chips before the GLC come to push them all up,thus transferring public funds into private pockets.

CI moved up 0.66 points to 1306.6. Gainers were outran a bit by losers 358 to 317. Volume is good at 570 million shares worth RM850 million. The counters which gained other than Bursa were Gamuda, up 50 sen, Kinstel shooting up by 40 sen and Nestle topping up 30 sen. Losers were GPLus moderating down to lose 44 sen, BAT sliding off 25 sen,YTL losing 15 sen and ZELAN dropping 15 sen as well.

The portfolio was quite dull. JAKS was supported well to close up 2 sen at 84.5 sen. Resorts moved up by 4 sen to RM3.88 while KHSB also attracted buying support to close a sen up to 92 sen. Losing by a sen each were AMDB,Welli and RCE at 38 sen,98 sen and 83 sen. Genting, BJ Sports Toto and Metronic closed unchanged at RM7.75,RM4.98 and 16 sen respectively.

I expect the market to trend upwards in the afternoon session.

Heartsong

Toilet Money at Bursa

Money has little value at Bursa these days. The moment you buy into a stock,Murphy comes along side and down it goes. Money down the tube-that's toilet money like the toilet paper money in the picture above.

The afternoon saw the much delayed follow-through that should have started first thing this morning. Anyway, better late than never. Even though shares rose on the blue chip plane, the speculative counters went down the tube.The CI upped 11.51 points to 1308.67 crossing the psychological level marginally. The number of gainers were 331 wile losers were 450. Volume was 798 million- 25% less than normal trading while value was RM1.44 billion. This is okay.

Gainers were Petgas, possibly being pushed up ahead of the government's potential gas price rise announcement. It rose 70 sen.Tanjong shot up 50 sen while KLK bounced up 50 sen. Asiafile went up 45 sen. The losers were Topglov sliding 20 sen;Kinstel dropping 20 sen as well, VADS declining 15 sen and Equine falling 12 sen.

The portfolio was a dismal showing. Genting added 10 sen to RM7.80;Resorts World rose 4 sen to RM3.86 and BJ Sports Toto added 2 sen to RM4.98. Falling on their faces were KHSB,JAKS and Welli which lost 3 sen to 90 sen,80.5 sen and 97 sen. RCE lost 2 sen to 83 sen while AMDB lost 1.5 sen to 38.5 sen. Metronic was unchanged at 16 sen.

I expect Bursa to be lower tomorrow because it is Friday and foreign funds are just awaiting at every level to dump Malaysian stocks.

Who will fill this vacuum?

Heartsong

Limbo Low Now Bursa...

So, as expected Bursa could not perform. No VIAGRA-no performance. Oh so weak, suffering from RM40 fright still. Psychological block-that is the term to describe investors looking at Bursa. Immediate response-tak mahu main. Tak ada selera!

After riding with Red Riding Hood all morning, CI finally turned green at the close, adding 1.5 points to edge up the CI to 1298.66, short of the psycho level of 1300. Gainers got overrun by losers 467 to 215. Volume was fair at 407 million shares worth RM619 million. Acceptable breadth.

Gainers saw the likes of Asiafile adding 45 sen;Alam sailing up by 22 sen,Tanjong winning 20 sen and KLK bouncing up 20 sen as well. These are the kalah counters. BAT smoked out 25 sen;Muhibbah collapsed 20 sen, TopGlov slipped 15 sen and Transmile fell 12 sen. Nothing great about both the gainers and losers.

The portfolio. Genting added 10 sen to RM7.80 while others all took a beating. Resorts, Welli and JAKS all lost 2 sen to RM3.80,97.5 sen and 81 sen respectively. KHSB fell badly again by 3.5 sen to 89.5 sen. Meanwhile, BJ Sports Toto declined 4 sen to RM4.92. RCE and AMDB both lost a sen each to 84 sen and 39 sen. Metronic was at its overnight level of 16 sen.

Market may be firming but I believe it will just stay at the overnight level. No fresh leads expected and so we will be having limbo rock day after day.

Heartsong

Weak and Sterile

As expected, there was no follow-through in the afternoon. Most speculative stocks were back to square one; some even lower than their overnight levels. So the Dow will likely be lower or even go into negative territory after such an eruptive performance today. Data driven Wall Street will now recoil as they start to speculate the downside of the financial institutions mired with sub-primes. I see down and down for Dow.

Meanwhile back at Bursar, the composite index stayed at about the same level as the noon close. Volume was definitely more showy at 1 billion shares worth RM 1.7 billion. Market breadth is certainly back but the punch and energy is sorely missing. Gainers smashed out losers 600 to 255. Gainers were KLK bouncing up 70 sen;Digi ringing in 60 sen; Gamuda tossing up 50 sen and Lion Div roaring up 30 sen. Losers running scared include Pharma off 22 sen, Nestle being milked off 20 sen, MSC losing 20 sen and AHPlant dropping 12 sen.

A look at the portfolio. Leading the pack was BJ Sports Toto adding 12 sen to RM4.96 followed by Genting which tacked on 10 sen to RM7.70. Next came Resorts adding 4 sen to RM3.82 while RCE added a sen to 85 sen. AMDB meanwhile managed a half sen gain to close at 40 sen. Closing unchanged were KHSB,Metronic and JAKS at 93 sen;16 sen at 83.5 sen respectively. Welli, after all the false leads,lost 2 sen to RM1.00.

Tomorrow will be a day of hard fall, I can tell. So be butt-ready!

Heartsong

Return of Bursa-a little weak though...


This is a photo of a US$ 1.63 million hand-bag. Just imagine spending that kind of money. To make that kind of money is impossible for many. Yet we have such opulence and mega spending.

The CI rebounded along with Wall Street, adding 19.63 points to 1296.96, short of crossing the psychological 1300 mark. Gainers clearly led losers 566 to 187. Volume has returned to 632 million shares worth RM957 million. Gainers were KLK upping 90 sen, BAT rising 50 sen, Digi tacking on 50 sen and Public Bank notching up 30 sen. Meanwhile, MISC lost 20 sen, DFZ lost 16 sen and TaANN and AHPlant losing 10 sen each.

The portfolio saw Genting going up 20 sen to RM7.80;BJ Sports Toto upping 12 sen to RM4.96 and Resorts adding 6 sen to RM3.84. Meanwhile KHSB added another 2.5 sen to 95.5 sen and JAKS by a similar margin to 86 sen. RCE also went up 1.5 sen to 85.5 sen. Welli, Metronic and AMDB meanwhile stayed at their overnight levels of RM1.02; 16 sen and 39.5 sen respectively.

Market may have a follow through this evening. Right now it is holding.

Heartsong

Dead-beat Bursar

As anticipated, Bursa wallowed, slipped and swallowed mud. The CI was brought further down to 1271.71 points by mid-day, losing 6.63 points. Losers overwhelmed gainers 532 to 139.

What is bad is volume has indeed shrunk, this time to 285 million shares worth RM424 million.

Eyeballing the figures, we have lost almost 45% of volume and something like 50% of value. Sad case bursa. "Don't play...play...OK?" warned Phua Chu Kang. How true it now rings! Policy makers who do not know the market should not recommend RM40 minimum for transactions on bursa. You have scared both big and small investors away three months before the dawn of 2008 when the new charge was to be implemented. All right minded investors are unwinding their positions. Rasa pedih, kan?

The gainers this morning were BLand upping 22 sen. KLK adding 20 sen. SAAG jumping up 20 sen and Nylex moving up 10 sen. Losers were giants IOIProp which dropped 40 sen;Kramat declining by 35 sen;UMW sliding 30 sen and BAT which went down 25 sen.

The portfolio saw absolutely no gainers. Even Welli turned turtle and lost 6.5 sen to 99.5 sen.BJSports Toto dropped 2 sen to RM4.88 while Genting and Resorts were unchanged at RM7.50 and RM3.78 respectively. Penny stocks were a little banged up at first but most recovered towards the clsoe. KHSB lost 1 sen to 83 sen while JAKS, AMDB and RCE all lost 0.5 sen to 78 sen,37 sen and 81 sen respectively. Metronic remained unchanged at 16 sen.

Do not expect too much in the afternoon. However, market might just break the losing streak and rise bringing speculative stocks running upwards.

Heartsong

Poor House Bursar

There is nothing to look forward these days on Bursa. Ever since the proposal to levy a minimum of RM40 brokerage charge for every transaction on bursa was announced, fund managers and local retailers have been sending messages to the policy makers that these policies are all wrong. Meanwhile foreign fund managers have been selling into strength every time the CI is up.

Today, except for Welli which sprung into life, all counteres were butchered particularly the speculative stocks. Everyone is heading for the poor house just like the picture above. Soon the chicken and the dog will be living with us as well in the poor house.

The CI slided down from the word-Go. It finally dropped double digit to 11.16 points bringing down the CI to 1278.34. Losers overwhelmed gainers 717 to 139. Volume shrunk visibly to 600 million shares worth RM918 million. This is not good when volume shrunk by 400 million and value by another RM400 million. Those people in the Treasury and SC should sit up and do something to boost volume. Get off your butts!

Losers were KLK losing 50 sen, Tanjong; 40 sen, Bursa 35 sen and Ranhill;32 sen. Gainers were WCT adding 15 sen;Parade notching up 11 sen and Guthrie topping up 10 sen while Sime moved up 10 sen.

The portfolio was just as bad as the general bursa. Genting lost 20 sen to RM7.50; KHSB dropped 9 sen to 84 sen; BJ Sports Toto gave up 6 sen to RM4.90, ;JAKS sliding 5 sen to 78.5 sen and AMDB losing 2 sen to 37.5 sen. RCE dropped 1.5 sen to 82.5 sen and Metronic lost 0.5 sen to 16 sen. Resorts World was at its overnight level of RM3.78. Only Welli went up 9 sen to RM1.06 sen on rumours of a hostile takeover.

Bursa will continue sliding. It will slide more if Dow goes down tonight.

Heartsong

Bursa's Toilet-Face Performance

As expected, foreign funds sold into strength;erasing the gains on the counters thus far. The CI gained a miserable 5.48 points to 1289.5 despite the humongous gain on Wall Street. Gainers overtook losers 498 to 290. Volume was 834 million shares worth RM1.2 billion.

Gainers were Bursa topping up 55 sen,Stemlife adding 32 sen, SAAG rising 30 sen and DFZ finally moving up 26 sen. Losers were IOIProp sliding by 30 sen, BAT down 25 sen, KPJ losing 20 sen and Shell falling 20 sen.

The portfolio did not perform well. Genting added 10 sen to RM7.70,Welli upped 2 sen to 97 sen; AMDB and JAKS increased 0.5 sen to 39.5 sen and 83.5 sen respectively. At their overnight levels were Metronic at 16.5 sen;Resorts at RM3.78 and KHSB at 93 sen. Losers included BJ Sports Toto which dropped 4 sen to RM4.96 and RCE which lost 0.5 sen to 84 sen.

I believe the Malaysian stock market will go down gradually by attrition after some yo-yo action. Soon, it will achieve toilet status when the RM40.00 minimal brokerage gets implemented and ride roughshod over the small investors.

Heartsong

I Can Hear it Ringing...Hands-free

Like the masai above, we hear the ringing. Bear-trap...bear-trap.....bear-trap....

False signals? Red herrings?

The way the market is going signals one thing. We are going into limbo mood.

When all the world markets dropped and recovered well; every time Bursar was the last to recover. Bursar is not the market of choice. I believe they think it is a banana republic bourse! And the way it is going, it may be true. Perception=Truth.

Just look at today. How did we fare when Dow is up? We go down. When Dow goes down; we go down. When Dow goes sideways, we go down. Consistency extraordinaire! Stupid Bursar!

The CI went down 1.92 points to 1284.02. Selling of blue chips took place but most recovered by day's end. Gainers were swamped by losers 570 to 242. Volume has shrunk to 819 million shares worth RM1.3 billion. The gainers were yesterday's losers. Classic random walk model in action. MISC clinched a 50 sen gain, TaAnn tacked on 40 sen. FRB put on 24 sen while Shell upped 20 sen. Losers were Lion Div losing 40 sen;Metrod dropping 30 sen; Muhibbah slipping 30 sen and Genting going down 25 sen.

The portfolio reflects the general market weakness.

BJ Sports Toto did good today pulling off with a gain of 12 sen to RM5.00. Unchanged were Welli at 95 sen and Metronic at 16.5 sen. Losing a sen each were RCE at 85.5 sen and AMDB at 39 sen. Resorts World slided 2 sen to RM3.80 while JAKS lost 4.5 sen to 83 sen. KHSB got a fierce thumping; losing 6 sen to 93 sen-a much oversold stock when its running mate and mother-ship KPS only lost 2 sen. Will likely move up tomorrow. Genting lost plenty-a drop of 25 sen on second round foreign fund selling. It closed at RM7.60.

We are likely moving into a bear phase.

Heartsong

Bursa is in the Toilet Now.

The RM40 minimum brokerage charge hangs over our heads menacingly like the Sword of Damocles. Come January 2008, small day investors will no longer have the luxury to punt on the Bursar. They have to think of something else to occupy their time.

Imagine you need to pay 10% brokerage just to buy a share costing 40 sen. IT will be worst if you are buying second boarders and MESDAQ stocks. The market will turn into a graveyard just like before mid-2005 before foreign funds returned. The way I look at it, they are now leaving after the budget. Let us see how the volume will shrink from next week.If other funds do not come in to fill the vacuum, we are dead meat.

Market opened better taking a cue from Wall Street. However, it slumped downwards even though Asian markets fared well. Bursa needs VIAGRA. The CI dropped 0.39 points to 1285.94. Volume was 952.4 million shares worth RM1.15 billion. Losers trounced gainers 511 to 301. Gainers were those who lost earlier, the likes of Tanjong and KLK. Tanjong upped 60 sen while KLK added 50 sen. Lion Div and Magna tacked on 30 sen. Losers were MISC which strayed into rough seas losing 50 sen;HAIO which sold itself down 50 sen, DFZ which continues to be short-changed, losing 36 sen and CIMA which got stoned out by 35 sen.

The portfolio generally followed the Bursar trend. Genting was the leader of the pack putting on 20 sen to RM7.85. RCE added 0.5 sen to 85.5 sen. BJ Sports Toto and Metronic remained unchanged at RM4.88 and 16.5 sen. Tumbling down was KHSB by 4 sen to 99 sen.JAKS went down 2.5 sen to 87.5 sen while Resorts lost 2 sen to RM3.80. Welli lost 1 sen to 95 en while AMDB lost 0.5 sen to 40 sen.

I fear for the market. It seems not have a base;falling down to lows every day after the silly budget announcement.

Hope market can be better tomorrow.

Heartsong

RCE Spreads its Wings to Vietnam

On the heels of the market operations to raise some RM1.5 billion, RCE is back in the news. This time-a foray into Vietnam.

If it can have its way, it will use the modus operandi in Malaysia to deduct loan repayments directly at source. If not, then the possibilities of accruing bad loans must be look into before they embark on this venture. If they are going to play a loan evaluation role, then Southern Bank Vietnam (SBV)has the requisite footprint and threson 11 September 2007,hold to make money.

A Memorandum of Understanding between RCE and SBV to form a joint venture to apply for licences to establish a Finance Company in Vietnam was signed on 11 September 2007. This financial company is a non-bank credit institution regulated by the State Bank of Vietnam.

RCE shall take up an equity stake of up to 30% in the JVCo with SBV at 11%, being the maximum permissible holdings under the Vietnamese regulations. Both RCE and SBV shall further negotiate and arrive at mutually acceptable commercial terms and seek strategic partners to take up the balance equity stakes in the JVCo.

The MOU provides for the parties to enter into definitive agreements after due diligence has been conducted by RCE.

SBV was established 14 years ago and is the second largest joint stock commercial bank in Vietnam with 73 branches and transaction offices. SBV provides a wide range of financial services to small and medium enterprises, exporters and importers, as well as personal banking services to individuals. The Bank was voted "Famous Brand" by consumers in Vietnam in 2006.

The collaboration with SBV would allow RCE to explore opportunities to expand its capabilities in financial services in Vietnam.

Will RCE fly and soar like an eagle in Vietnam?

Azman is shrewd. He will bring home the grub.

Heartsong

The Shadow of the Bear

With Wall Street in jeopardy because of sub-prime and its effects on world markets, Bursa is likely to go into deep hibernation.I see the shadow of the Bear.

The market is totally directionless and foreign funds are selling down the blue chips. The CI will move from side to side dancing to the rumba.

Today CI went downhill to 1286.33, off 4.37 points. Losers outpaced gainers 529 to 266. Share volume was 837 million worth RM1.3 billion. Gainers included Tanjong and TaAnn which upped 30 sen each while SAAG and Asiatic put on 25 sen each. Losers were Petgas which added 30 sen, and Bursa and Transmile which lost 25 sen each. MSC was 20 sen down.

The portfolio- Genting went down 5 sen to RM7.65; RCE was off 2.5 sen to 85 sen; KHSB was knocked off 5 sen to RM1.03. AMDB lost 1 sen to 40.5 sen At their overnight levels were, Metronic at 16.5 sen, Resorts World added 2 sen to RM3.82. JAKS added 0.5 sen to 90 sen while BJ Sports Toto was unchanged at RM4.88. Welli lost a sen to 96 sen.

I expect another sideway market tomorrow.

Heartsong

Bewildered!

That lady in the photo looks bewildered. Apart from the shock she got from the new brokerage charges to be made effective in 2008, she is more worried about the breadth of the market, even now; not in 2008 which is definitely graveyard and cemetery stinking-related.

The CI slipped a little bit to 1289.82, losing 0.88 points. What was quite frightening was the volume of shares traded this morning has fallen a fair bit to 384 million shares. Value was 547 million which was okay by my reckoning. Indicative of blue chip buying; I would suppose.

Gainers were behind losers 281 to 360. Gainers were actually yesterday's or the day before losers such as Tanjong and KLK. Both added 30 sen. PPB and BAT tacked on 25 sen each; nothing great here. The losers were utility giant TNB and Maybank losing 20 sen each, Petgas and Pelikan lost a paltry 10 sen each. Looks like foreign funds are selling down their stocks in Genting,Maybank,Commerz and TNB.

The portfolio looks fine to me. Resorts (RM3.82)and BJ Sports Toto (RM4.90) held their heads up high by adding 2 sen each. Welli added a sen to 98 sen while JAKS and Metronic added 0.5 sen to 90 sen and 17 sen respectively. RCE dropped 1.5 sen to 86 sen. Unchanged were KHSB and Genting at RM1.08 and RM7.70 respectively. AMDB , meanwhile lost 0.5 sen to 41 sen.

Asian markets have firmed up. Once foreign fund selling of the blue chips ceased, we should move up.

Heartsong

Broken Future!

A dumb move. Putting a minimum brokerage charge of RM40 ringgit on all trading activities on Bursa Saham Kuala Lumpur beginning 2008. The inclusion of this dampener will immediately dry up retailer enthusiasm and drive them away from the Bursa. So with that one deft stroke, the powers-that- be had done the greatest disservice to the investing community in Malaysia and elsewhere. We await a graveyard atmosphere next year almost devoid of day traders, speculators and small-time buyers.

Like the photo of the broken bottles of beer above, the small man's dream of making some money on the market is now beyond reach!

Say good-bye to Bursa, won't you?

Heartsong