Friday, December 21, 2007

Going Up on Window Dressing

Good for Bursa as the GLCs and listed companies start their year-end window dressing activity. Creative price manipulation for record purposes. Also to beautify their profile like Miss Philippines above.

CI zoomed up 11.76 points at the noon close to 1398.97. Losers were ahead of gainers 334 to 270. Volume thinned tremendously to only 284 million shares worth RM592 million.

Among gainers were KLK upping 50 sen;VADS which rose 30 sen,KFC rising 25 sen and Gamuda rolling on to gain 24 sen. Losers were headed by Equine-LA which lost 31 sen;Zelan which took down 15 sen;Aeon Cr which slipped 12 sen and BJLand which slided 10 sen.

The portfolio was so so. Resorts World added 8 sen to RM3.68;BJ sports Toto rose 10 sen to RM5.10 while KHSB and RCE both added 0.5 sen to 85 sen and 82 sen respectively. Genting,Welli and Metronic were unchanged at RM7.55; 60 sen and 15.5 sen.

It should hold steady to a downward bias in the afternoon session.

Heartsong

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