FRIDAY, AUGUST 5, 2011
KLCI tumbles to below 1,530
KUALA LUMPUR: The FBM KLCI fell sharply at the opening of early trade on Friday, Aug 5 in line with the overnight slump at Wall Street as persistent global economic worries set off a selling frenzy.
The FBM KLCI lost 16.95 points to 1,529.94 at the opening bell, weighed by losses at key blue chips.
Key Asian markets tumbled in early trade, with Japan's Nikkei 225 falling to a five-month low and South Korea's Kospi tumbling more than 4%.
Overnight in the US, stocks were dumped with Wall Street suffering its worst session in two years, and analysts are predicting more to come with the market seen entering a corrective phase.
The main Wall Street indices were all battered ' the Dow lost 4.3%, the S&P 500 fell 4.8% and the Nasdaq lost 5.1%.
On Bursa Malaysia, among the early losers were BAT, HLFG, KLK, UMW, Petronas Chemicals, Genting, MMHE, DiGi and MISC.
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WTI Crude Oil
$85.97 ▼0.66 0.76%
CRUDE OIL IS CHEAPER NOW...........
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1500--1510 on the way。。。。。。。。。。。。。。。。。
Monday will see more clearer picture....................
Will it be a falling knife ........and downward to 1510........next week?
Malaysian share/stock still expensive...esp blue chips.......not worth to rush in and get costly stock.............
Drop to 1480--1490--1500 can consider buying some Public Bank Index Fund (for medium & long term investment) and pick some stock.........(at your own risk.....)
Believe will drop and head south further......and around 1490-----1520 by next week????..........
1500---will be good enough?????
But many says Malaysia stock still too expensive........never mindlah EPF and fund managers will supportmah.....so 1490 will still safelah.......drop to 1480...EPF will buy more............
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SO EPF AND FUND MANAGERS WILL SUPPORT THE 1500 LEVEL..........
IF U HAVE CASH THEN U CAN WAITLAH........CAN WAIT UNTIL 1480........(U DARE CAN BUY AT 1495 AND 1500).........BUT NOT SO ROSYLAH............
SAFE PLAY WILL BE AT 1480!
