916 Bursa Malaysia Outlook
KLCI seen lower as investors focus on political uncertainty toward 916. With today down trade in KLCI, next major support will been 990 point and I think KLCI will drop beyond this support vary soon due to additional negative issue like ringgit Malaysia again USD is high and foreign fund is exit from Malaysia. From the edge, TNB foreign shareholding had drop from 28.4% (May 2007) to 17.6% (August 2008) same thing happen to MRCB, ZELAN Bhd and MMC Corp Bhd.
Virgin Islands-based Arisaig Asean Fund reduced 14.6% to 6% in Malaysia investment.
Malaysia's opposition leader Anwar Ibrahim plans to hold a rally on Monday to protest against a government crackdown widely seen as a move to derail his plans to take power. Organisers say 30,000 supporters are expected to attend the rally held on the eve of Anwar's bid to lure 30 MPS from the ruling party to join his opposition bloc and form government. Look like it is no a good day to be in share.
U.S. stock index futures tumbled on Monday, as talks to secure the future of Lehman faltered, and other financial players also faced a troubled future. See "With the U.S. financial markets in trouble, we haven't seen much foreign interest here as well, and this trend is likely to continue for now," said a dealer at a local brokerage house. "And to add to that is the domestic political uncertainty, which has dampened the sentiment even further," he said.
Malaysia's benchmark index has fallen about 28 percent so far this year as foreign investors shunned Malaysian equities after resurgent opposition parties inflicted heavy losses on the ruling coalition in a March 8 general election. Dealers said continued pressure on heavyweight planters, such as Sime Darby and IOI Corp, amid falling crude palm oil prices, will also weigh on the index.
Virgin Islands-based Arisaig Asean Fund reduced 14.6% to 6% in Malaysia investment.
Malaysia's opposition leader Anwar Ibrahim plans to hold a rally on Monday to protest against a government crackdown widely seen as a move to derail his plans to take power. Organisers say 30,000 supporters are expected to attend the rally held on the eve of Anwar's bid to lure 30 MPS from the ruling party to join his opposition bloc and form government. Look like it is no a good day to be in share.
U.S. stock index futures tumbled on Monday, as talks to secure the future of Lehman faltered, and other financial players also faced a troubled future. See "With the U.S. financial markets in trouble, we haven't seen much foreign interest here as well, and this trend is likely to continue for now," said a dealer at a local brokerage house. "And to add to that is the domestic political uncertainty, which has dampened the sentiment even further," he said.
Malaysia's benchmark index has fallen about 28 percent so far this year as foreign investors shunned Malaysian equities after resurgent opposition parties inflicted heavy losses on the ruling coalition in a March 8 general election. Dealers said continued pressure on heavyweight planters, such as Sime Darby and IOI Corp, amid falling crude palm oil prices, will also weigh on the index.
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