Half day performance for KLCI:

-74.17 @ 1162.91

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Added on February 28, 2007, 6:41 pmAnother big down day for KLCI ...

-40.63 and closed at 1196.45

This post has been edited by David83: Feb 28 2007, 06:41 PM

Still got hope from the governmen

Malaysia's economy still strong

PUTRAJAYA: Malaysia's economy remains robust and there is no cause for anyone to worry about the dip in the KL Composit Index, Second Finance Minister Tan Sri Nor Mohamed Yakcob said.

He said because of this, there was no need for the Government to undertake special measures, such as capital controls.

Meanwhile, Aberdeen Asset Management Sdn Bhd's managing director Gerald Ambrose said he believed the Malaysian stock market could still outperform other regional markets based on its good internal fundamentals.

Other positive indicators include:

1. Malaysia's GDP up 5.9% last year
The economy posted strong growth and Bank Negara said Malaysia's economic growth prospects are expected to remain favourable this year, the country is better placed to deal with external shocks.

2. China's stock market rebounds
The Shanghai Composite Index closed 3.9% higher while the Shenzhen Composite Index bounced back 3.8% at the close yesterday, substantially recovering their loss of over 8% each on Tuesday.

3. Wall Street opens higher
Buyers returned with more confidence as the Dow Jones Industrial Average rose 57.1 points in early trading to 12,273.3 points at 10.40pm Malaysian time yesterday.

Not a great day for KLCI yesterday ...

-15.54 @ 1180.91

Seems like PM's hope for KLCI to reach 1300/1350 (cannot remember the exact figure) will be crushed.

I'm kind of agreed on your second statement:



It's pretty true for Malaysian economic life cycle.



This post has been edited by David83: Mar 2 2007, 08:41 AM

Our PM still doesn't want to accept the fact!

PM: Have faith in KLSE

When Malaysians show their confidence and their preparedness to invest in their own stock market or in their own country, this will give a signal to investors to come in bigger numbers to Malaysia," the Prime Minister told the Malaysian media here on Wednesday.

He was commenting on the drop in the KL Composite Index since Tuesday.

The KLCI fell in tandem with regional markets on Tuesday, shedding 2.81% to close 35.79 points lower at 1,237.08.

On Wednesday, the KLCI closed at 1,196.45. It dipped further to 1180.91 yesterday.

Abdullah said the 2.81% drop in the KLCI on Tuesday was the result of the dip in the bourses of other countries.

"I read about it. It looks like because there was a drop in the bourses of other countries, the KLSE also followed suit," he said.

"I hope that we don't always follow other people. We need to show our confidence in our own stock market."

On a news report quoting Tan Sri Muhammad Muhammad Taib as saying that the Umno machinery at all levels had been put on readiness for the next general election, Abdullah said people should not "make too many predictions".

"People should stop speculating about when the next general election will be held. I have already said we should not be speculating.

"What is important is to work. When our work is good, when all elected representatives are working well, what is there to worry so much about the next general election?"

But I think, as the (Umno) information chief, he (Muhammad) was asking elected representatives to work," he added.

URL: http://thestar.com.my/news/story.asp?file=...7735&sec=nation



This post has been edited by David83: Mar 2 2007, 06:20 PM

KLCI dropped 16.23 and closed at 1164.68

KLCI purged 53.99 to close at 1110.69

A huge drop!

PM says stock market fall reflects global uncertainty

KUALA LUMPUR: Malaysian Prime Minister Datuk Seri Abdullah Ahmad Badawi said Tuesday the recent plunge in stock prices reflected global uncertainty, and was not an indication of a weakening local economy.

He said there were no plans to impose capital controls on foreign funds investing in Malaysia, and said the Southeast Asian nation was still a good place to invest.

The rise in domestic consumption and domestic investments show "there is confidence among Malaysian citizens about the economy,'' he said.

He said external factors such as the price of oil, developments in the U.S. and economies of China and India can influence Malaysia's open economy where trade is more than twice the size of the domestic gross domestic product.

The government was continuing to work to strengthen Malaysia's fundamentals, he said.

"We must be in a position that can withstand any development that may emerge,'' Abdullah said, following a meeting with the central bank's board of directors.

Malaysia's benchmark Kuala Lumpur Composite Index, which had tumbled 11.7 percent since last week, bounced back 2.2 percent Tuesday.

Since the start of the year, the index had shot up 17 percent.

Speaking at the same event, central bank governor Zeti Akhtar Aziz also said the local economy was resilient enough to absorb the recent volatility.

Zeti repeated the volatility in the foreign exchange market reflects two-way flows of funds.

"We shouldn't be concerned when we see two-way flows,'' she said, adding that the flows include profit-taking from portfolio managers, repatriation of profit by foreign companies. - AP

URL: http://biz.thestar.com.my/news/story.asp?f...26&sec=business

KLCI shot up 20.27 and closed at 1130.96

Malaysian stocks rise 1.8% Tuesday

KUALA LUMPUR: Malaysia's stock market rebounded 1.8 percent Tuesday, lifted by bargain-hunting by foreign funds. Prime MinisterAbdullah Ahmad Badawi said the recent plunge in prices reflected global uncertainty, and was not an indication of a weakening local economy.

The Kuala Lumpur Composite Index rose 20.27 points to 1,130.96, a day after falling 4.6 percent.

The market had tumbled more than 10 percent since Feb. 27.

The advance was broad-based, with 995 stocks registering gains as opposed to 115 losers. Earlier Tuesday, Prime Minister Abdullah said there were no plans to impose capital controls on foreign funds investing in Malaysia, and said the Southeast Asian nation was still a good place to invest.

The rise in domestic consumption and domestic investments show "there is confidence among Malaysian citizens about the economy,'' he said.

He said external factors such as the price of oil, developments in the U.S. and economies of China and India can influence Malaysia's open economy where trade is more than twice the size of the domestic gross domestic product.

The government was continuing to work to strengthen Malaysia's fundamentals, he said.

"We must be in a position that can withstand any development that may emerge,'' Abdullah said, following a meeting with the central bank's board of directors.

Speaking at the same event, central bank governor Zeti Akhtar Aziz also said the local economy was resilient enough to absorb the recent volatility. Zeti repeated the volatility in the foreign exchange market reflects two-way flows of funds.

"We shouldn't be concerned when we see two-way flows,'' she said, adding that the flows include profit-taking from portfolio managers, repatriation of profit by foreign companies.

Among the top gainers was government-linked UEM World Bhd., which gained 11 percent to 2.94 ringgit and Tebrau, which leapt 35 percent to 0.90 ringgit - a rise of 0.235 ringgit.

Both have been among the most active counters for weeks, and hold large tracts of land in southern Johor state were the government is undertaking a mammoth development project.

Conglomerate Genting Bhd. meanwhile, rose 5.5 percent to 33.75 ringgit while construction company Mah Sing rose nearly 30 percent to 5.05 ringgit.

URL: http://biz.thestar.com.my/news/story.asp?f...49&sec=business

This post has been edited by David83: Mar 6 2007, 09:12 PM

Government not going to counter KLCI slump

KUALA LUMPUR: The Government will not intervene to counter the drop in the KL Composite Index.

"What's important is that we always ensure that our economic fundamentals are strengthened," said Prime Minister Datuk Seri Abdullah Ahmad Badawi.

"We must be prepared to face external shocks. Even if they are strong, we will not be badly affected. If they are mild, it will not affect us at all," he told reporters after attending a briefing at the Bank Negara board of directors' quarterly meeting here yesterday.

The KLCI which fell to 1,110.60 points over the past week, the biggest drop since Sept 17, 2001, regained 20 points yesterday on a technical rebound.

On foreign investments, the Prime Minister said: "Malaysia is a good place to invest. We have political stability and we are a safe place. If foreign investors want to make profits it will depend on how they manage their companies."

Abdullah also said the Government would not revise the gross domestic product growth this year which had been forecast at 6%.

He expressed satisfaction over the increase in domestic consumption and investment which reflected the public's confidence in the economy.

Asked about Proton Holdings Bhd's strategic partnership talks, he said: "Well, I was told that Peugeot (PSA Peugeot Citroen) had decided to withdraw. So, that's all."

He said Proton was still talking to Volkswagen AG.

Meanwhile, General Motors Corp is talking about taking a stake in Proton, reports Bloomberg.

The Proton talks remain "extremely" preliminary, General Motors CEO Rick Wagoner said at the Geneva motor show yesterday.

Later, at the launch of the National Craft Day 2007, Abdullah said he wanted high quality Malaysian crafts to be sold internationally in major cities and prestigious shops.

"We also want to give these as gifts to prime ministers and presidents of other countries. We need to bring our craft beyond our boundaries," he said.

URL: http://thestar.com.my/news/story.asp?file=...6423&sec=nation

A positive half-day performance, KLCI hike 33.86 points.

Let's see its second-half.

KLCI increased another 25.62 from yesterday and closed the day at 1156.58

Predict for the end of the year is a little too far judging from the uncertainty that we're facing now. Don't you think so?

Well, I'm expecting a longer correction period till next bull run (perhaps maybe during or after the period of general election).

KLCI climbed another 30.48 to close at 1187.06

This is the third day of rising. The bull run is back or what?

This post has been edited by David83: Mar 8 2007, 11:02 PM

KLCI closed at 1188.83 after up 1.77

Judging from how much points it ups ... that can roughly illustrate the situation. It's a very impressive day for KLCI as compared to last three days ago.

KLCI climbed another 14.46 and settled for the day at 1203.29

KLCI dropped 3.28 and closed at 1200.01

Well, edifgrto. I think I will if it drops more and I think KLCI is enterring to its stable state. Don't you guys feel so? Or the market is waiting for a sign to react?

KLCI dropped huge today by 33.63 and ended today's trade at 1166.38