Investor FrustrationWall Street's going down is just an excuse for the excesses of the Bursa. It may have gone too high too fast especially those blue chips. So our CI is an artificial benchmark that needs to be reviewed so that it will represent all sectors and also be weighted fairly. I believe it is not.
So the market decided on its own. When Asian markets rallied, it slink away with Singapore and Hang Seng and put on one lousy performance today. The CI finished 0.77 points down to 1290.13.
Sellers came in to batter prices in the afternoon and before you know it we were in minus territory. At the close 1.2 billion shares changed hands worth RM1.9 billion. Loser thumped gainers 696 to 247. Gainers included MPI which rose 50 sen;Shell whch tacked on 50 sen as well; Digi which rang in 30 sen and TNB which lighted up 20 sen. Those who lost were Muhibbah by 70 sen, United Plantation by 50 sen and Sime and IJM by 30 sen each.
The shadow portfolio had only one winner. NFO BJ Toto which gained 6 sen to RM4.86. A true defensive stock. Even Genting was battered down to RM7.50 (overnight close)while Resorts lost 4 sen to RM3.86. RCE stood firm losing half a sen to 82.5 sen while popular JAKS lost 3 sen to 81.5 sen. Welli is still bottom sea fishing at RM1.02, losing three sen.
A most frustrating day for investors. You just do not know what to do. To buy, to sell, to stay put on the sideline. Every decision could be a painful one if the market turns awry.
So we let Dow Jones to play Dear Leader again and sucker up to it tomorrow.
Heartsong
So the market decided on its own. When Asian markets rallied, it slink away with Singapore and Hang Seng and put on one lousy performance today. The CI finished 0.77 points down to 1290.13.
Sellers came in to batter prices in the afternoon and before you know it we were in minus territory. At the close 1.2 billion shares changed hands worth RM1.9 billion. Loser thumped gainers 696 to 247. Gainers included MPI which rose 50 sen;Shell whch tacked on 50 sen as well; Digi which rang in 30 sen and TNB which lighted up 20 sen. Those who lost were Muhibbah by 70 sen, United Plantation by 50 sen and Sime and IJM by 30 sen each.
The shadow portfolio had only one winner. NFO BJ Toto which gained 6 sen to RM4.86. A true defensive stock. Even Genting was battered down to RM7.50 (overnight close)while Resorts lost 4 sen to RM3.86. RCE stood firm losing half a sen to 82.5 sen while popular JAKS lost 3 sen to 81.5 sen. Welli is still bottom sea fishing at RM1.02, losing three sen.
A most frustrating day for investors. You just do not know what to do. To buy, to sell, to stay put on the sideline. Every decision could be a painful one if the market turns awry.
So we let Dow Jones to play Dear Leader again and sucker up to it tomorrow.
Heartsong
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