Returning ConfidenceThe overall market got back some of its soul by 4 pm. Blue chips were collected by fund managers which moved up the CI to finish at 1376.4, up 7.17 points. After 4 days of losses, it finally snapped back into positive territory. Share volume was at 1.2 billion valued at 2.1 billion ringgits. Losers stood at 483 counters viz winners at 456 counters. Gainers were firm from the morning bell. These include Commerce, Boustead, WCT and LCL. Losers were BAT, still reeling from the tariff hike, Green Packet, DIGI and YTL.
Most portfolio stocks also made some gains. RCE got back 6 sen to finish at RM1.05 on a gigantic volume of 85.7 million shares traded. Resorts clawed back 8 sen to finish at RM3.90 on a big volume of 264 million traded shares. KPS added a sen to RM1.73 on a share volume of 32 million.AMDB also finished better by half a sen to 39.5 sen. JAKS, traded at a volume of 9 million shares, was at its overnight level of 79.5 sen. Going south consistently without any trailing stop was Genting. It lost a further 5 sen to RM8.20. Metronic weakened half a sen to 23 sen while BJ Sports Toto collapsed to RM4.98; losing 12 sen.
I believe Resorts World will jump up in price very soon since the selling has abated. The way Genting has been pushed down is sufficient signal it is going to move up ever so quickly as well once the collectors have their fill.
An interesting day awaits us tomorrow.
Heartsong
Most portfolio stocks also made some gains. RCE got back 6 sen to finish at RM1.05 on a gigantic volume of 85.7 million shares traded. Resorts clawed back 8 sen to finish at RM3.90 on a big volume of 264 million traded shares. KPS added a sen to RM1.73 on a share volume of 32 million.AMDB also finished better by half a sen to 39.5 sen. JAKS, traded at a volume of 9 million shares, was at its overnight level of 79.5 sen. Going south consistently without any trailing stop was Genting. It lost a further 5 sen to RM8.20. Metronic weakened half a sen to 23 sen while BJ Sports Toto collapsed to RM4.98; losing 12 sen.
I believe Resorts World will jump up in price very soon since the selling has abated. The way Genting has been pushed down is sufficient signal it is going to move up ever so quickly as well once the collectors have their fill.
An interesting day awaits us tomorrow.
Heartsong
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