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
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
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