Lee Kuan Yew made a statment that Malaysia's economy is strong & resilient for this whole year. It was in the news.
Maybe that prompted overseas & local investors to start buying..
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This is we called pre-GE or pre-cny rally, people are getting their 'Ang Pow' already.
KLSE is detaching itself from the world market currently, look at Maybank, up a whooping 70cents in a day. Kind interest to know whether who moves it as substantial shareholders need to disclose their changing position if they did in 1 or 2 weeks time.
Seems like a rotation play on heavy index linked counters. Wanna to do 1500 for GE show-off?
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come on, beat the 1500!!
sharesa, verbatim, we sold EQUINE too early liao
but never mind la, as long as we enjoy the process~
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wow so long never see trading value hitting 3billion.
i dun trust equine leh. very ez to fall into the trap
i like uembldr! cause im still losing money on that..hehe
kinstel slowing creeping up everyday... i wonder if will kena goreng. steel counters no movement lately rite?
This post has been edited by cherroy: Jan 8 2008, 05:01 PM
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Wow, 1550 target looks more possible day by day.
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not only local funds are playing, I believe foreign investors too.
Just one hour ago I heard an interview to a foreign capital investment company, Star Asset Management, they are positive on Malaysian stocks. (This kind of news has not been heard since August!)
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Angpow comes early this year hor...
Maybank cheong, MRCB cheong, KULIM cheong, EQUINE cheong, Gamuda also cheong...
Becareful... wait DJIA/HSI plunge satu kali kau kau then HKCW can buy liao... I think KLCI is being goreng'ed to earn money... GE still months away... I think GE after CNY... most likely March liao...
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Property turn what... MKland on the upside...
As expected, our market isnt really that dependent on US market. I just waiting to see HKCW big big drop nia
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fear when ppl greed, greed when ppl fear.
so its a wrong time to sell today when red. lol
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Have faith in the GE rally ladies and gentlemen, KLCI is now in it's own bubble unaffected by world events.
Though I prefer the market to crash and burn so I can pick up cheap shares
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You are so right. Although DJ drop so much, our KLCI back to green.
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If analysts forecast the result is bad, but it comes out better than forecast, it is good news.
If forecast is good, but result is not so good, BAD NEWS!
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property stocks now hot leh...
probably start of rotational play into property stocks...
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Reason:
Share prices closed higher as property stocks were supported by growing hopes for further US interest rate cuts, while commodity counters surged after a fresh rise in gold and crude oil prices. Dealers also noted that mainland banks saw renewed interest on hopes of solid 2007 earnings after China Merchants Bank projected 110 pct growth in net profit earlier this week. The Hang Seng index closed up 502.95 points or 1.86 pct at 27,615.85.
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Tomorrow markeat close la, should buy all you can today , this coming Friday is history in the making, KLSE will break 1,500 points. You read it here first (Hopefully my crystal ball is tuned properly) . E & OE.
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Since last 3 trading days, everyday is making historic all time high liao..
But sadly, din managed to catch up..waiting for another round. hopefully got.
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Market high possibility will ride on momentum to shoot higher as people will 'bang' on GE rumour to play on it. As long it doesn't die off, it will be quite awhile for this market to have strength.
As always a reminder although not foolproof, it is always a piece of good advice, Buy on rumour and sell on news.
Enjoy the market while good, just don't be too greedy.
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Wise words from our mod. But we all greedy guts!!
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KLCI really high liao, today MahSing cheong, MUIxxx cheong, MKLand cheong...
Im still eyeing Satang...
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Goldman predict recession in 2008
And Euro is deep in CHILLI...
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KLCI closes in on 1,500 mark
PETALING JAYA: The KL Composite Index (KLCI) was a whisker away from the critical resistance level of 1,500 points yesterday.
The benchmark index hit a new intra-day peak of 1,498.86 points in the afternoon.
It ended the day 1.92 points up at 1,491.66 following some late profit-taking activity ahead of a public holiday today.
Selling on major banking stocks also helped prevent the local bourse from breaching the 1,500-point level, dealers said.
All is not lost, however, as analysts and fund managers believe that it will only be a "matter of time" before the index reaches 1,500 points and, more importantly, a breakout after that level.
Pacific Mutual Fund Bhd chief executive officer and chief investment officer Michael Auyeong said: "The current momentum is strong.
"The local market has been on a run since the third week of December, very much against the grain of global markets. Volumes have been impressive and market breadth has gotten progressively better."
Auyeong believes that the local market's defensive nature, its domestic-oriented drivers against a backdrop of global uncertainty, and the push in the commodity segment are the main attractions that will continue to drive the market.
"And, of course, at this point is the 'popular' speculation on the timing of general election factor (which is pushing up the index)," he said.
According to him, the 1,500-point level might give the market an excuse to pause and "catch its breath," but technicals suggest a breakout would follow not long after a short respite.
Fortress Capital Asset Management (M) Sdn Bhd associate director, investment Michael Lai said: "At this level, the market is definitely trying to test the 1,500 level. The election play is obvious but healthy commodity prices, loans growth from the banking sector and foreign fund inflows are also helping keep the market robust."
Auyeong warned that while the current run-up in the KLCI had fundamental basis, a wholesale decoupling from global markets might not be so easy to achieve.
"Major overseas markets, which are currently a bit oversold, may experience some short-term technical rebound but there are some critical support levels, which if broken, could lead to significantly more downside in global equities," he said.
In such circumstances, the KLCI's performance might grind to a halt, he said, adding: "Realistically, there are a lot of uncertainties that global investors are grappling with."
Lai advised inventors who wished to go into the market now to "not chase stocks."
"Go into more liquid counters, such as blue-chip firms, which will allow you to exit when you have to, and maybe mid-cap companies which are resource-based."
Credit Suisse country head and head of research Stephen Hagger took a long-term view on the KLCI. "We remain positive on the performance of the local bourse, which is supported by solid pre-election pump-priming measures."
He said the robust growth of plantation-related companies, thanks to firm crude palm oil prices, and continued restructuring of government-linked companies would sustain the market's performance in the longer run.
"The rest of the world looks pretty nasty right now but Malaysia seems all right. It remains our top pick in the region," Hagger said.
Meanwhile, in line with the bullish market trend yesterday, the ringgit climbed to 3.2655 against the US dollar - a fresh 10-year high following buoyant demand for the local unit.
Dealers said the ringgit would remain on an upward momentum, given the weakening greenback and
URL: http://biz.thestar.com.my/news/story.asp?f...57&sec=business
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Jan 11 2008, 09:16 AM
Today a big rally across the board...
Surely GE is coming liao...
Maybank another big gainer today...
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Jan 11 2008, 10:55 AM
wow, 1518 point now.
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Historical High!!!
Woohooo wishing all the best in your stocks
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Jan 11 2008, 11:29 AM
Now is 1520
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wow... klci is headin higher trendline as 1500 is broken... so keng!!!
btw, can any1 tell me what is d date of announcement for last time GE?
21st March 2004 was election, parliament was dissolved on the 2nd of March 2004..
should be similar, but since the school hols are on the 17th i think, then the parliament should be dissolved earlier lah.. just my 2 cents..
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i think the ci will maintance not less than 1550 before the GE
up 28 points. Will KLCI break 1600?
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though KLCI break record, most stocks have not reached thier highs of last year.
most of the index points are contributed only by few stocks, namely Maybank , Sime, Bursa, commerz. They should give other stocks a chance to run up too.
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My mom still has MRCB dated 10 years back...
Wondering whether she wanted to sell or not...
She lost so much thats she doesnt even consider its there...
RM5++ THGROUP left
finance & banking maybe?
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Wah, my crystal ball was right, and looks like hitting 1,600 pts also possible.
But now, sell or buy??
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Hey different lah, Unisem got share split (having said that after adjusted for share split, it still way below its 22 high)while MRCB didn't (no or peanut dividend also). Also Unisem reached 22 when dotcom bubble during 1999-2000 which almost every dotcom stock was trading at insane PE value 30x,50x etc 70x.
That's why one needs to assess when market or individual stock is too high to sustain itself. If bought too expensive, one will be trapped for long long time, not to mention the interest loss on FD (if put the money into FD rather than buying stocks). That's why I said this is KLCI bull but not entire market bull as a lot of people still being 'trapped'.
In a real super bull, almost everyone is making money, not sectorial type.
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LOL...
Cos my mom already take as her 20K all lost le... so basically she just left it as it is. Seeing MRCB price now, at least got something back lor.
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I think it will maintain somewhere around 1500-1550.
I think Gov will continue to support KLCI so that it wont drop below 1500.
Keeping voter happy so that we will continue to vote for them again...
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KLCI shoots past 1,500 points
PETALING JAYA: The KL Composite Index (KLCI) marched to a fresh high of 1,521.6 points yesterday as talk of impending general elections gained momentum and foreign funds flowed strongly into the local bourse.
The rising tide of foreign funds also propelled the benchmark to break the critical psychological resistance at 1,500 points after five consecutive record-breaking days.
The sharp appreciation of the ringgit against the US dollar pointed to the return of foreign funds to the local bourse. The local currency strengthened to a 10-year high of 3.259 to the dollar yesterday.
Profit taking, however, caused the KLCI to pull back from its intra-day peak and finish at 1,516, up 24.6 points, or 1.6%, compared with Wednesday.
The bullish sentiment stemmed mainly from domestic factors, given the lingering external uncertainties such as a possible slowdown in the US and world economies.
The regional bourses were mostly down yesterday.
Hong Kong's Hang Seng Index dipped 364 points, or 1.3%, to 26,867, Singapore's Straits Times Index dropped 23.7 points, or 0.72%, to 3,287, while South Korea's Kospi Index shed 42.5 points, or 2.3%, to 1,1782.
"The current buoyant stock market is largely driven by momentum trades on the back of expectation of an early election,'' Citi Investment Research said in its strategy report yesterday. "The biggest risk is an election that is too early, which may bring an early end to that buoyancy."
The research unit has raised its 12-month target for the KLCI to 1,570 points from 1,542. The new target is only 3.6% off the current level after yesterday's sharp gains.
Citi Investment suggests investors sell cyclical stocks such as construction and property on strength, given that the expected moderation in domestic consumption growth would be the key risks to earnings.
JP Morgan executive director and head of broking, Clement Chew, said Bursa Malaysia looked appealing to foreign investors because the country's relatively more diversified and broad-based economy would help mitigate any adverse impact of external shocks.
"The market is also under-owned by foreigners," he said.
The strengthening ringgit was also a draw for foreign interest. "Investors are always more comfortable with a strengthening currency,'' Chew said.
He said the local bourse consolidated in the second half last year and that made Malaysian stocks attractive in terms of growth, dividend yield, price/earnings ratio and return on equity, compared with regional counters.
Yesterday's buying interest was not confined to plantation stocks, which had been the star performers in recent weeks.
Banking stocks also led yesterday's rally after Citi said it anticipated banks and stockbrokers to be the next area of focus after a strong run in the plantation and telecommunications sectors.
"We also expect the oil and gas sector to draw interest," it said.
Heavyweights Malayan Banking Bhd gained 30 sen to RM12.80, Bumiputra-Commerce Holdings Bhd surged 70 sen to RM11.70 while AMMB Holdings Bhd was up 36 sen at RM4.04.
Sime Darby Bhd and DiGi.Com Bhd also lent support to the KLCI, with Sime Darby putting on 50 sen to RM13.30 and DiGi.Com jumping RM1.40 to RM26.
Kurnia Insurans Bhd chief investment officer Pankaj Kumar said that earnings visibility and their growth in the mid-teens were the magnets for investors' money.
He does not foresee any drastic correction in the near term.
"The market may need to take breather, but the momentum is strong enough to sustain the rally, at least until the Chinese New Year," Pankaj said.
URL: http://biz.thestar.com.my/news/story.asp?f...87&sec=business
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Jan 12 2008, 11:21 AM
KLCI uptrend constructive
ALLOW me to recapitulate what was written on April 10, last year. When Bursa Malaysia's principal indicator, the KL Composite Index (KLCI) surged to a 13-year high and marched steadily towards the pervious "super bull" rally intra-day peak of 1,332.04, established on Jan 5, 1994, StarBiz published a commentary titled Within striking distance, with the sub-head KLCI looks poised to beat the all-time high set in 1994.
The article was supported by analyses of the historical daily bar chart, including mathematical calculations of the previous cycle of major run-ups, concluding that the key index had an upside of at least 1,520 points, going forward. Apparently, we were the earliest, if not the first to come out with such a forecast and the feedback from our regular readers then was very much divided.
Nonetheless, exactly nine months and one day later, we finally saw the benchmark CI breaching the "magical" 1,500-point psychological level with ease to achieve a high of 1,521.56 during intra-day session, also the best ever in Bursa's history before trimming advances to finish at 1,516.22 in the wake of mild profit-taking activity in the afternoon session yesterday.
It has been a long road not without a couple of obvious heart-pumping moments, brought about by yen-carry-trade worries and subprime mortgage woes in the US last year, where the market was nearly beaten to a pulp amid waning investor confidence.
Fortunately, the local bourse was able to absorb the selling pressure and come out nicely to be where it is today.
On record, Bursa had surpassed our estimate upside objective yesterday and it is appropriate we chart the next pathway, as many eager investors certainly want to know where the market is heading before pouring in more of their hard-earned monies into equities.
Truly, this is a different species of bull. Unlike the "super bull" and "tech fever" runs in 1993 and 1998 respectively, where the market surged across the board, the rally this time around appears highly selective and rotational, driven by the blue chips initially, followed by thematic plays in the construction and property sectors, then spilt over to oil and gas-related issues and thereafter, the plantation companies. Elsewhere, most of the second and third liners, darling among retail players, are however, still stuck or under-performed but they are improving lately.
As we can see, the trend is certainly a friend of the big boys with ample liquidity, snapping up quality stocks before others, perhaps betting Malaysia is in the midst of a long-term structural uptrend following the implementation of a string of economic reforms under the leadership of Prime Minister Datuk Seri Abdullah Ahmad Badawi.
Besides the economic reforms, they too see other powerful catalysts at work, such as the setting up of various economic corridors across the country that would subsequently pave the way for a more sustained growth in the future.
Needless to say, they are proven right, as all the measures undertaken by the Government so far helped the stock market. In fact, we believe there may be more restructuring in the pipeline. Whether it is economic or social measures to be implemented by the authorities in the future to face the rapid globalisation, it will surely bode well for equities, going forward.
Turning to the chart topic, the landscape on the screen is equally promising. Bursa basically received a massive boost from the huge inflow of foreign funds, supported further by the local institutional buying interest, thus driving the principal index deeper into the uncharted zones.
Other than the unexpected sharp drop on the two previous occasions mentioned earlier, any pullbacks along the way due to short-term overbought reason were well absorbed, thanks to smart hands.
In other words, the prevailing mid- and long-term trends of the KLCI are constructive. Together with the strong technical signal, particularly from the daily, weekly and monthly moving average convergence/divergence histograms, they suggest that the window for more upswing is wide open but of greater volatility due to persistent worries about the health of the US economy.
To the upside, the clearest probable target that we can identify is the 1,760-point level, which is the extended resistance line of the upward channel prior to the "super bull" rally in 1993. If the energetic bulls are able to find their way, they will arrive safely at their next destination, earlier than our forecast of last quarter of this year or first half of 2009.
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For now, it is safe, as everything looks well and rosy.
URL: http://biz.thestar.com.my/news/story.asp?f...68&sec=business
I qouted the last sentence, the word sounds a bit interesting.
Normally analysts and when people commenting the word should be like, for near future or future, it is looks rosy/bullish. See the difference of this article or the editor word.
http://forum.lowyat.net/topic/607019/+260
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早上听BFM （89.9 FM）。。。。广播员说： CIMB 预测年底KLCI 会到达 1700， 而OSK则预测会到1650。。。。。。
回头看看。。。。。。。2008年的情况。。。。。。。。。。。。。。竟然是那么相像。。。。。。。
竟然。。。。。。。。。。也是要冲1600。。。。。。。。。。。。。。。。
只是，很多股票的价格不同了。。。。。。。。。。大家的心境也不同了。。。。。。。。。。。
基金，大机构。。。。。还是老样子。。。。。。。。要冲1600。。。。。。。。。。。。。。。。。
人民的心已经变了。。。。。。。。。。人们再也不相信。。。。。。污桶了。。。。再也不看马华了。。。。。民政也再也无法令人有一点点地信心。。。。。。。。。
1600。。。。可能是。。。同样的。。。希望。。。股市还是。。延续着。。。。自己玩自己爽的路线。。。EPF， 大机构还是在股市成王。。。基金还是继续。。。。在支持着指数。。。。。。。。。
人心已经变了。。。。。。。。。。。
时代不同了。。。。。。。。。。。。。。这个改变是必定会到来。。。。。。。。。。。。。。。。。。
。。。。。。。。。。。。。。。。。。。。。
