The issue has been deal with.

Thank you.

A bit OT, just for readers understanding.

Doesn't matter for asymptomatic or not.

Vaccine is meant to break the chain.

Virus needs a host to continue going on.
A to B to C to D, and going on non-stop currently.

Now B has been vaccinated, and has antibody to fight off against virus, hence (assume 90% effectiveness) B won't transmit further.
Hence the chain is broken, no more further.

Vaccine is to tell our immune system pre-learn earlier there is such kind of virus hence it will fight off earlier, instead currently, virus entered body, body takes a week or two to learn up to fight off.
In this 2 week time, the virus spread to others.

SARS is the one that chain being broken, hence we see no new case.

SARS is eliminated without vaccine, because those contracted show fever symptom quickly, and health screening process pick them up and quarantine to break the chain.

For bank industry, the one to observe is NIM.
Profit margin is more suitable for product, trading, manufacturing industry to observe the healthiness of the industry profitability.

Bank is making money through interest rate spread aka NIM, fee collected, investment banking etc.

Profit for bank can be highly affected by bad loan loss provision, loan loss provision writeback etc.

If bank able to recover previous bad loan provision, or those bad loan is not as severe, then it will write back in the profit.

Bank NIM and loan growth, now also fee and investment banking income are the key indicator for banking industry.

Moratorium doesn't affect the profit figure.

Loan interest is still incurred on the loan outstanding. Bank profit comes from interest charges to the loan account.

Moratorium affects cashflow, ability to give new loan or potential ability to give generous dividend.

8.xx is almost near a pre-covid level price, short term wise, a bit overshoot, so it is likely those bought low including EPF or EPF engaged managers may also want to take some profit off the table.

After all, if track back, many local funds including EPF are constantly buying when the price sliding time months back.

Nothing wrong to see them disposing some.

It is impossible constantly buying non-stop even a stock is good, from time to time, especially when price become higher time, disposing some to take profit off the table and free up cash so that they have money ready for future downtrend time, or support the share price during sell off.

Investing and trading has all sort of strategy.
So it is no unusual to see them disposing during current up trend.

It is not like this stock is good, then everyday buy and keep only.
Cash position also needs to adjust, as market won't go up straight line and need to prepare cash for downturn (if) as well.
Risk needs to mitigated in between. This is how one of strategy that funds may work, not only buy and keep only.

For banks, if interest rate cut stop or US treasuries stop falling, then we have some stablise effect on banks.
Largely due to stablise in NIM as we know NIM is affected by interest rate movement.
If loan interest become near zero, then it is harder for bank to earn through NIM.

New component on KLCI takes effect 21 Dec, if not mistaken.

Actually, the reason is simple.

We always keen to sell when the stock is on the way going up, because of profit made.

Look back after sometimes, then we realised why it happened to everyone.

When a stock has a run up, normally it has momentum, until overshoot, it won't stop there and drop back instantly.
Normally those momemtum and trend last for a while.

Eg. looking back A stock history
1.00, it starts to run up to 1.10, 1.20, 1.50 and peak at 2.00 after weeks later.

Those bought at 1.00 excited when it run up to 1.20, 1.30, after several days and keen to lock in profit,
Then after sold, only can look it going up to 1.50, 1.80, 2.00.

That's why many complaint once they sold, price shoot up.

While those bought B stock at 1.00, but the stock doesn't run up, they keep forever, and complain whenever they bought, stock won't go up, only sell it will go up.
It is more like selective memory. They forgot they have bought A stock at 1.00, and sold at 1.30, but only think stock went up after they sold.

When a stock is running up, one can approach a different strategy like let the stock run up, hold your selling intention or selling in batches like 10 lot at 1.30, another 20 lot 1.50, 30 lot at 1.60 or wait for sign of reverse trend before selling.

There are many kind of approach in selling strategy, not just sell in one go or trying to sell at peak.

Holding value is just on paper.
Until realised and distributed to shareholders as dividend or capital repayment, shareholders just can 'watch" the value, especially minority stake.

There are many stocks trading at significant value to its NTA, let alone the value holding, until the value is realised, market generally won't respond to it.

Market is more concern about operating profit as this is where the company future.
Company can have low NTA, low value holding, but future is promising, and operating profit is showing good number, then share price likely to perform better as compared to another stock that has high value holding but poor operating profit.

This is how generally market give valuation to share price, and where investors chase after.

If you have 4 lot, then give you extra 1 lot.

After ex-bonus, the opening price for next day will be adjusted accordingly.
Eg. if close at Rm22.00, ex-bonus 1: 4.
The next day opening reference price will be Rm22 x 4 / 5
= RM17.60.

Oppps, sorry for the mistake.

Should be 4 for 1, not 1 for 4.
You have 1 give you 4, total you have 5
So
22/5 = 4.40

Buy just right before and after, generally not much difference, as price will be adjusted accordingly.

Yes, long term shareholders may benefit from it, by having more shares in hand, which may improve stock liquidity.

But no split or bonus issue won't affect shareholder interest, as the most important is company earn more profit in the future.
Split, or bonus issue without improvement in profit, share price also won't move.

Look at Nestle, Berkshire H, they are having less split or bonus issue, share price is at high side due to improvement in profit over the long term.

Bonus issue doesn't increase or decrease company value, NAV/NTA, just more shares.
More share potential increase liquidity and make share price lower that may make more affordable for small investors to buy.
But since after switch to 100 shares per lot, this generally not much an issue.

Windfall tax on palm oil is not something new, it has been there for years already.

When CPO price beyond Rm2500 peninsular and Rm3000 on EM, then there is windfall tax.

It is already known by market.

Despite current CPO price has good surge beyond Rm3000, most plantation stocks are not surging much because market anticipate next year CPO price to be softer due to more supply, due to this year La Lina effect that bring more rain fall that may boost next year palm production.

This post has been edited by cherroy: Dec 13 2020, 10:11 PM

PE is the rear mirror view figure.

Stock market doesn't care about the past but looking forward ahead.

PE is a good yield stick if the profit figure is going to be steady throughout, but if profit and prospect ahead is going to have big change, PE is not a suitable indicator.

There is a market term called "PE trap" that we need to aware of.

For Allianz, you need to take into the account of the preference shares dilution to count the diluted EPS for more accurate PE.

Can check its financial report, it does state the diluted EPS.

Most of the time, it is out of our expectation.

Before that,
Little guess Lehman went under during 2008.
Little guess 2020 has pandemic resulted lockdown.

But we can see from those crash, normally happens in interval of 10+ years time.
AFC - 1997
GFC - 2008
Pandemic - 2020.

If a factor is known or highly predicted, it won't cause a crash most of the time.

It was still a crash, a big drop of about 30%.
And DJ has circuit breaker down which is unprecedented, never saw it before that.

The difference is, this time, it rebounds very quickly, due to swift action by Fed.

Better don't hope so.

Buying second dip is not something good to have.

See recent glove share price example.
Many missed when some glove share price goes up so much, and hope to dip back to collect.
Now dip back fulfill previous hope of second dip, what happens right now?
Most fear only, instead of happy collecting.
And for traders, the down trend doesn't do good for them to trade.

We don't need to buy at crash point to gain money, very hard or almost impossible to predict and time the crash.
Instead buying a good stock at a fair price can already make investors make profit from stock market. Historically has proven that.
Any buy during crash is added bonus.

Yes, some "recovery" theme stocks are priced a bit too high, as fully recovery and life normalisation still take times until vaccination reached at least 1/3 to 50% level, which may need sometime that may up to 2021 year end or another year to go.

But at the same times, the extreme low interest environment and with US keep on printing money to stimulus the economy lean support towards the market.
PE 20 seems expensive in previous normal economy or financial market.
But PE20 is relative fair for current financial market.

High or low is relative, not absolute or have a fix standard.

Tech company or those manufacturing tech goods share price up generally is across the globe, due to too much money chasing on too few supply.
As it is one of few sector enjoy robust growth during pandemic, due to WFH and stay at home, aka those previous money spent on travel, hospitality, turns into buying gadget, tech stuff.
Hot money tends to chase after the hot sector.

But not every tech related is the same, but in the bull run theme time, everything goes up together, just like sea level phenomena, only until the tide recede, which may not so soon, then the real that can generate good profit will be separated out from the rest, while weaker one recede back.

Occasionally casual chit chat is ok, but do not go beyond the line of spamming, and post or spam consecutive without much essence.

For /K type of post, one can always hype up in the kopitiam section.

Thank you.

This post has been edited by cherroy: Jan 20 2021, 11:01 AM

Please do not post one liner and post consecutively.

This thread is not /k section.

Thank you.

Reit is always a fixed income instrument, not for gorenging.

Reit share price is tightly correlated to its yield.

Normally, Reit share price always stay or move according to its yield that is 100bps~300bps MGS or FD rate.
So dividend and interest rate level are two major factors.

Reit has many sub-sector, current performing sector is Data centre reit, next is industrial/logistics, as those properties are in high demand and providing stable income.

This post has been edited by cherroy: Jan 21 2021, 02:32 PM