BURSA MALAYSIA MARKET IDEAS MONDAY

FBMKLCI MSCI REVIEW, WEAK GDP SINK KLCI

Highlights

• The FBMKLCI closed much lower at -20.72 point or -1.26% to close at 1628.26.

• FBMKLCI big down after MSCI review, plus weaker than last year's GDP data upset traders. This could lead to more serious fall if coming day fail to support.

• Mentioned last Friday, "DJIA did not do very well yesterday, a reverse of 200 point is a wipe off for the day before, however if it still stay above 17600 without a big fall, then DJIA may consider as sideways".

• "If it suddenly big fall pointing down towards 17500 or more, then it may have a bigger downtrends" Seems it coming way down now. Careful trader it may affect our market.

• As the market sentiment turn into very worrisome, I suggest we take rest for short term trade for today.

Counter Specific News

• Printing firm Tien Wah Press Holdings Bhd, in its diversification strategy, proposes to redevelop its factory site in Jalan Semangat, Petaling Jaya, into a mixed-use commercial project.

• Smallish plantation player TDM Bhd is eyeing further growth from its healthcare segment, in which it has had a presence since its listing.

•  Leader Steel Holdings Bhd expects its second-quarter results this year to improve by at least 20% versus the first quarter. The company sees its quarterly sales, which have risen by 5% to 10% in the past, improving on surging demand due to the shortage of hot and cold-rolled raw materials.

• Raya Airways Sdn Bhd, formerly Transmile Air Services Sdn Bhd, will soon break the duopoly and get a slice of the action in the provision of cargo terminal and ground-handling services at the KL International Airport (KLIA). 

•  Apex Healthcare Bhd is ready to chart another milestone as it takes a more aggressive stance on international markets to sustain its record-high revenue. Its aim in the long term is to have the international markets’ contribution account for more than 50% of revenue. 

• After suffering losses for three consecutive years, Wong Engineering Corp Bhd (WEC) is bullish about returning to the black in the current year after having tightened its costs and converted half its billings into US dollars to hedge against volatile exchange rates. The company is also contemplating mergers, which could be with a firm in any sector, including property.

The greatest revenge is to accomplish what others say you cannot do this Monday !

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