Friday, October 17, 2008

Malaysia KL Composite Index To Break 900 Points Next Week ?

Today KL Composite Index went down -14.79 points to close at 905.23 points. It was another sad day for Bursa Malaysia. It seems that the banks have activated their force selling activities in order to recover their margins. A few counters with good fundamental also come under heavy selling pressure lately. Yesterday KNM was the main actor but today another counter also face the same problem like KNM.

Today Gamuda Berhad share price was under heavy selling pressure. Not only Gamuda share was under heavy selling pressure, WCT Berhad (-0.15 sen to close at RM 1.65) was also under heavy selling pressure this past few days.

From as high as RM 2.62 per share recorded on 30.09.2008, today WCT prices drop again to close at RM 1.64 per share. A drop of RM -0.16 sen. This counter only need two week for it to drop nearly RM 0.98 sen.

Although the Dow Jones Industrial Average went up so much yesterday(+401.35 points), it didn't help much on our KL Composite Index. Maybank (-0.35 sen to close at RM 5.10), AMMB (-0.17 sen to close RM 2.23) and Genting (-0.14 sen to close at RM 4.52) also face the same problem which were under heavy selling.

People seem to have loss their confident towards Bursa Malaysia. People now are more worry that the recession might strike anytime from now on. Our neighbour Singapore and the U.S market have confirmed that they were already entering the recession based on their latest data.

Stay out from the market will be the right technique to apply at this moment. As I have mention before that we are facing One of The Deadliest Disasters of all time. Greater than the mother of Tsunami and Earth Quake - THE GLOBAL FINANCIAL MELTDOWN.

My previously article posted on Tuesday, October 7, 2008, I did mention that "I can't find the bottom and also I can't find when is the right time... ? It is too dangerous out there.... it is a global financial market EXPLOSION ....."

"We will get hurt easily... Now the market condition is just like the 1997 Asian Financial Crisis. I saw it before during that time (1997 Asian Financial Crisis) ..... many analyst had made a called and issued buying signal when the share prices hit their target and went to a price that is really cheap but what happen when time past by. Cut loss, incurs more losses, prices are getting cheaper and cheaper. It just likes no sign of recovery."

This is The Worst Financial Crisis compare to 1997 Asian Financial Crisis.

1 comment:

hesslei said...

The Kuala Lumpur Composite Index (KLCI) is a stock market index generally accepted as the local stock market barometer. Introduced in 1986 to answer the need for a stock market index which would serve as an accurate performance indicator of the Malaysian stock market as well as the economy.


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