Wednesday, October 31, 2007

But Smile You Must

Citigroup has downgraded Bursa saying it has little upside and will only become attractive if it fell. But smile, we must. A little warning to the GLCs which were downgraded such as UEM and Commerce. It also recommended a buy on Bursa only at the RM12.00 price region.

We did have a yoyo type of day but Bursa ended in green territory upping the CI to 1413.63 by 0.86 points. Losers pelted gainers 443 to 401. Volume is still at a steady 1.43 billion worth RM1.99 billion. Parkson led the gainers with a 50 sen gain. Dutch Lady and Digi also scored 50 sen gains each. Aeon upped 45 sen. Losing were Bursa,dropping some 90 sen;KLK by 70 sen,IOICorp slided 35 sen while SPSetia rolled off 20 sen.

Genting sparkled up the portfolio with a 15 sen gain to RM8.25 and RCE increased 6 sen to RM1.00. BJ Sports Toto improved 5 sen to RM5.10 while Welli improved 2.5 sen to 93 sen. KHSB, however, dropped 0.5 sen to 97.5 sen. Meanwhile, Metronic lost most of its intra-day gains to finish a sen better at 18 sen. Resorts was unchanged at RM3.84.

Let us see how Dow will perform tonight.

Heartsong

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