Wednesday, January 2, 2008

Gravitational Pull!

'Tis the 9th day of Christmas and Santarina is still around. The Christmas joy and New Year spirit may still be in the air in the pubs, hotels and supermarkets but not at Bursar! The CI started off with a big fall of 9.35 points to 1435.68. Volume was unexpectedly high in spite of the imposition of the minimal RM40 per transaction fee. Volume was at 592 million shares worth some RM1.08 billion. Losers over-rode gainers 456 to 285.

Steel makers led the gainers. Southern Steel took in 41 sen;SAAG ramped up 35 sen, Annjoo climbed 37 sen while Kinstel was up 24 sen. Top losers included
Cepco off 56 sen and SimeDarby,Commerz and Dutch Lady down by 30 sen each. So much for window dressing!

Portfolio had two clear winners today. BJ Sports Toto attracted fresh buying to gain 15 sen to RM5.20 and Resorts World continued receiving support to rise 14 sen to RM4.02. Genting was quiet at RM7.90 and RCE; at 84 sen. Elsewhere, KHSB lost 2 sen to 89.5 sen and Metronic lost 0.5 sen to 15 sen. Welli slid 3.5 sen to 53.5 sen.

If Dow is supportive tonight, we may go into positive mode tomorrow.

Heartsong


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