High NoonYou think mat rempits are only found on the roads and highways? Think again... They are also found on the highways and bye-ways of Bursa KL.
So it is now the noon close and the CI have pole-vaulted literally over the 1500 psychological resistance level. What more need be said except that the combination of positive factors have found alchemy this morning! History has been made and a new CI territory has been charted.
So what are these factors, my friend? The ringgit factor-possibly if foreign traders believe the ringgit will move up substantially further against the US$ soon. The impending election-oh yes but not a necessary condition to move the CI. GLCs playing mat rempit. Definitely so with the money of the citizens in the hands of directed fun managers! Not fund managers. Retail players gambling on the strength of the market. Some, possibly. If it is a fund-driven market upheaval, then the trend is okay as the basis is solid and substantive. The chance of retreat is minimal. The volume and value is critical here.
The CI closed at 1518.55,up 26.89 points on heavy buying of blue chips. There were some speculative buying of lower liners and penny stocks but most lost their gains towards the end of the noon trading session. Gainers outstripped losers 494 to 268. Volume of shares changing hands was 1.04 billion with a value of RM 2.23 billion. Fronting the gainers were Commerz topping up 70 sen. This was followed by which tacked on 60 senWCT. Maybank added 60 sen while SPSetia took on 45 sen. Losers included SAAG which off-loaded 20 sen; IOIProp which slided 20 sen as well; Sprtizer which watered down 19 sen and Asiatic which went down 15 sen.
The portfolio was somewhat lousy. Genting added 15 sen to RM8.00; KHSB improved 4 sen to RM1.05; Resorts tacked on 2 sen to RM4.16 and RCE which managed a 0.5 sen gain to 90.5 sen. Metronic and Welli both fell 0.5 sen to 16 sen and 56 sen each. Meanwhile BJ Sports Toto was at its overnight level of RM5.15.
I believe the best is over for the day. The afternoon should see consolidation for the coming week.
Meanwhile, enjoy looking at beguiling Andrea..........
Heartsong
So it is now the noon close and the CI have pole-vaulted literally over the 1500 psychological resistance level. What more need be said except that the combination of positive factors have found alchemy this morning! History has been made and a new CI territory has been charted.
So what are these factors, my friend? The ringgit factor-possibly if foreign traders believe the ringgit will move up substantially further against the US$ soon. The impending election-oh yes but not a necessary condition to move the CI. GLCs playing mat rempit. Definitely so with the money of the citizens in the hands of directed fun managers! Not fund managers. Retail players gambling on the strength of the market. Some, possibly. If it is a fund-driven market upheaval, then the trend is okay as the basis is solid and substantive. The chance of retreat is minimal. The volume and value is critical here.
The CI closed at 1518.55,up 26.89 points on heavy buying of blue chips. There were some speculative buying of lower liners and penny stocks but most lost their gains towards the end of the noon trading session. Gainers outstripped losers 494 to 268. Volume of shares changing hands was 1.04 billion with a value of RM 2.23 billion. Fronting the gainers were Commerz topping up 70 sen. This was followed by which tacked on 60 senWCT. Maybank added 60 sen while SPSetia took on 45 sen. Losers included SAAG which off-loaded 20 sen; IOIProp which slided 20 sen as well; Sprtizer which watered down 19 sen and Asiatic which went down 15 sen.
The portfolio was somewhat lousy. Genting added 15 sen to RM8.00; KHSB improved 4 sen to RM1.05; Resorts tacked on 2 sen to RM4.16 and RCE which managed a 0.5 sen gain to 90.5 sen. Metronic and Welli both fell 0.5 sen to 16 sen and 56 sen each. Meanwhile BJ Sports Toto was at its overnight level of RM5.15.
I believe the best is over for the day. The afternoon should see consolidation for the coming week.
Meanwhile, enjoy looking at beguiling Andrea..........
Heartsong
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