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
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
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