The Shadow of the BearWith 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
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
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