Day Three : Continuing ConsolidationYes, as predicted the CI went down further losing a good 9.6 points to 1,357.43. More healthy correction. Some 697 counters went south. Gainers stood at only 224 with volume of shares traded at 1.2 billion shares. The value was RM 17.5 billion.
Counters that made gains wew generally outsiders such Majuperak with a huge 47 sen jump, Bonia; 28 sen and KNM; 20 sen. The losers were SP Setia knocking off 65 sen while Jernih lost 56 sen. CIMA and Kramat both shedded 45 sen. DIGI and Shell lost 40 sen while Petronas Gas fell 30 sen. My favourite counter Welli (WMC) went into a black hole and lost 37 sen to RM1.11 after SC sanctioned it not to release its quarterly reports until they are further scrutinised.
Metronic which will ex its bonus shares on 11 July for trading on 12 July added 1/2 sen t0 41 sen on a volume of 4.3 million shares. KPS, which went ex-dividend, maintained its price at RM1.72 on a volume of 4.6 million shares.RCE which weakened to 98 sen at one time closed at its overnight level on renewed buying support to close unchanged at RM1.01 on a volume of 7.4 million shares.Without the excitement of the water play, JAKS slumped to 75 sen, losing 2 sen on a volume of 4.5 million shares. BJ Toto, Resorts and Genting lost from 5 to 10 sen. AMDB was at its overnight level of 41.5 sen on a heavy volume of 10.3 million shares traded.
Global fears are in the air. Will Wall street continue its southerly bias? Will the Fed increase interest rate? Rumours are also afoot that the Japanese might increase interest rates. Meanwhile the Chinese authorities are tightening further market trading rules to prevent overheating. This has caused a dampener to the appetite of Chinese investors causing their markets to fell. Most Asian markets were in minus territory as well from Taiwan to South Korea.
Our market has shed 35 points to date. Another 10 points drop will caused itchy fingers to want to come into the market to grab at undervalued shares. Will that happen on Friday?
Let us see.
Heartsong
Counters that made gains wew generally outsiders such Majuperak with a huge 47 sen jump, Bonia; 28 sen and KNM; 20 sen. The losers were SP Setia knocking off 65 sen while Jernih lost 56 sen. CIMA and Kramat both shedded 45 sen. DIGI and Shell lost 40 sen while Petronas Gas fell 30 sen. My favourite counter Welli (WMC) went into a black hole and lost 37 sen to RM1.11 after SC sanctioned it not to release its quarterly reports until they are further scrutinised.
Metronic which will ex its bonus shares on 11 July for trading on 12 July added 1/2 sen t0 41 sen on a volume of 4.3 million shares. KPS, which went ex-dividend, maintained its price at RM1.72 on a volume of 4.6 million shares.RCE which weakened to 98 sen at one time closed at its overnight level on renewed buying support to close unchanged at RM1.01 on a volume of 7.4 million shares.Without the excitement of the water play, JAKS slumped to 75 sen, losing 2 sen on a volume of 4.5 million shares. BJ Toto, Resorts and Genting lost from 5 to 10 sen. AMDB was at its overnight level of 41.5 sen on a heavy volume of 10.3 million shares traded.
Global fears are in the air. Will Wall street continue its southerly bias? Will the Fed increase interest rate? Rumours are also afoot that the Japanese might increase interest rates. Meanwhile the Chinese authorities are tightening further market trading rules to prevent overheating. This has caused a dampener to the appetite of Chinese investors causing their markets to fell. Most Asian markets were in minus territory as well from Taiwan to South Korea.
Our market has shed 35 points to date. Another 10 points drop will caused itchy fingers to want to come into the market to grab at undervalued shares. Will that happen on Friday?
Let us see.
Heartsong
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