Lousy finish..............Bad market day. The mood is just foul.
As I predicted in an earlier posting, most counters finished off best. Situational counters stayed put with their gains in the afternoon session but volume leaders started giving back.
UEM World is a case in point. From something like more than 30 sen gain in the morning, it was finally left with a 10 sen gain. Resorts held steady at RM3.74 in the early afternoon but in the end it gravitated south to RM3.64 for a 12 sen loss. Just as it was gaining momentum from the recommendation of the ASEAMBANKERS 3Q2007 Report, RCE lost 2.5 sen to 98.5 sen. AMDB struggled but lost 1.5 sen to 40.5 sen. Metronic lost haf a sen to 43 sen and KPS slumped 2 sen to RM1.69. JAKS which held its head high at the 80 sen level finished 2 sen ahead at 78.5 sen.
Genting remained steady holding on to a loss of 5 sen all day to finish at RM8.70 but BJ Toto added 5 sen to RM5.40. Meanwhile, whipping boy WMC softened to RM1.05. Watch this counter do the limbo rock. "How low do you want me to go?" To me, go down some more until your reports are approved by SC. Then only will your shareholders see a better price horizon.
Tomorrow is Thursday and Wall Street is off for Independence Day. So looks like we will follow Shanghai, Shenzhen and Hang Seng. Will there be good buying support tomorrow since we are on own own?
Your guess is as good as mine.
Heartsong
As I predicted in an earlier posting, most counters finished off best. Situational counters stayed put with their gains in the afternoon session but volume leaders started giving back.
UEM World is a case in point. From something like more than 30 sen gain in the morning, it was finally left with a 10 sen gain. Resorts held steady at RM3.74 in the early afternoon but in the end it gravitated south to RM3.64 for a 12 sen loss. Just as it was gaining momentum from the recommendation of the ASEAMBANKERS 3Q2007 Report, RCE lost 2.5 sen to 98.5 sen. AMDB struggled but lost 1.5 sen to 40.5 sen. Metronic lost haf a sen to 43 sen and KPS slumped 2 sen to RM1.69. JAKS which held its head high at the 80 sen level finished 2 sen ahead at 78.5 sen.
Genting remained steady holding on to a loss of 5 sen all day to finish at RM8.70 but BJ Toto added 5 sen to RM5.40. Meanwhile, whipping boy WMC softened to RM1.05. Watch this counter do the limbo rock. "How low do you want me to go?" To me, go down some more until your reports are approved by SC. Then only will your shareholders see a better price horizon.
Tomorrow is Thursday and Wall Street is off for Independence Day. So looks like we will follow Shanghai, Shenzhen and Hang Seng. Will there be good buying support tomorrow since we are on own own?
Your guess is as good as mine.
Heartsong
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