The Witching HourWe all know the classic proverb: Man propose, God dispose.
For Bursa Saham KL, perhaps it should be reworded. "Man propose, God oppose"
Hardly 24 hours ago, everyone was celebrating the new high of 1392 points and then, Indian giver style, it was taken back.... Macam mana tuan? Aca-aca kah? Please no play-play ah; so says Phua Chu Kang.
The CI is currently better compared with the opening. It is now at 1384.88 down 7.3 points, the most resilient of the Asian market losers. Except for Shanghai, every market played Wall Street's running dog and went down. There are 250 ups and 576 downs. Volume is good at 800 million shares valued at RM1.9 billion. I think local factors are coming to the fore. Let us look to the afternoon for God's grace and mercy.
Gainers were mostly oil and gas stock led by Kencana for election money, I suppose. Deleum,Wijaya, EPIC and Petra were up too. The downers were Naim, Green Packets and EONCap.
Looking at the portfolio of stocks tracked; Resorts seems to be firming up again, losing only 2 sen to RM4.30. Volume was at 122 million shares. I suspect collecting is still being done ahead of the bond conversion. Genting is up 10 sen to RM8.60 with a volume of 3.1 million shares.
A research house has remarked in its recent report that Genting's valuation of 19.1 times its FYOY P/E ratio versus global casino footprint is undemanding and efforts to unlock the value of its non-core assets is currently being undertaken. They see more upside on Genting's price.
The other stocks showed a mixed performance. AMDB and Metronic were at their overnight level of 41.5 sen and 23.5 sen.Welli and RCE were each down 2 sen to RM1.32 and RM1.05. KPS was also down by a similar margin to RM1.86 while JAKS added 1.5 sen to 84 sen. BJ Toto lost 5 sen and Taliworks lost a sen.
I believe the market breadth is due to buying of oil and gas stocks and also the buying of Genting-Resorts stocks. They should be buying NCER related stocks like Welli soon.
Heartsong
For Bursa Saham KL, perhaps it should be reworded. "Man propose, God oppose"
Hardly 24 hours ago, everyone was celebrating the new high of 1392 points and then, Indian giver style, it was taken back.... Macam mana tuan? Aca-aca kah? Please no play-play ah; so says Phua Chu Kang.
The CI is currently better compared with the opening. It is now at 1384.88 down 7.3 points, the most resilient of the Asian market losers. Except for Shanghai, every market played Wall Street's running dog and went down. There are 250 ups and 576 downs. Volume is good at 800 million shares valued at RM1.9 billion. I think local factors are coming to the fore. Let us look to the afternoon for God's grace and mercy.
Gainers were mostly oil and gas stock led by Kencana for election money, I suppose. Deleum,Wijaya, EPIC and Petra were up too. The downers were Naim, Green Packets and EONCap.
Looking at the portfolio of stocks tracked; Resorts seems to be firming up again, losing only 2 sen to RM4.30. Volume was at 122 million shares. I suspect collecting is still being done ahead of the bond conversion. Genting is up 10 sen to RM8.60 with a volume of 3.1 million shares.
A research house has remarked in its recent report that Genting's valuation of 19.1 times its FYOY P/E ratio versus global casino footprint is undemanding and efforts to unlock the value of its non-core assets is currently being undertaken. They see more upside on Genting's price.
The other stocks showed a mixed performance. AMDB and Metronic were at their overnight level of 41.5 sen and 23.5 sen.Welli and RCE were each down 2 sen to RM1.32 and RM1.05. KPS was also down by a similar margin to RM1.86 while JAKS added 1.5 sen to 84 sen. BJ Toto lost 5 sen and Taliworks lost a sen.
I believe the market breadth is due to buying of oil and gas stocks and also the buying of Genting-Resorts stocks. They should be buying NCER related stocks like Welli soon.
Heartsong
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