Bursa Tumbleweeds

Dow went down and so did tali barut Bursa. It got kelentong some 8.93 points to level down the CI to 1403.86, a whistle-stop away from the psychological level of 1400. Losers overwhelmed gainers 479 to 284. Volume shrunk a bit to 736 million shares worth RM 847 million. Overall, we see blue chips that have moved up the last two days falling like tenpins. Situationals like RCE,Welli and Metronic were better this morning.

Losers big time were Bursa the bellwether, dropping 80 sen. IOICorp also declined 35 sen. Fashionista outfit,LCL took a fall on the runway to close 35 sen down while Tanjong was also beaten to the tote closing 30 sen down. Dutch Lady saw renewed buying to close up 50 sen to RM12.70. Very impressive! Parkson and Digi also trended upwards by 40 sen each while BHIC continued its gains, this time to 30 sen.

The portfolio was so much better today on the background of a listless day. Genting stopped its fall to rise 5 sen to RM8.15. Resorts also gained 2 sen to RM3.86. KHSB, however, fall by 0.5 sen to 97.5 sen. Meanwhile, Metronic moved up on heavy volume to clinch a 1.5 sen gain to 18.5 sen while Welli was buoyed by news of its takeover of Gardenia Thailand. It rose 4 sen to 94.5 sen. The medal of valour should be given to RCE which catapulted 7 sen to RM1.10. BJ Sports Toto was at its overnight level of RM5.05.

Afternoon session is expected to see consolidation as most investors are sidelined to await the possible rate cut by the Feds.

Heartsong