Again FBM KLCI dip on opening
Due to N Korea incident,FBM KLCI open with a big dip however smart money buy back the share with lower price. For FBM KLCI to dip below 1460 level will be unlikely due to huge amount of hot money still in Malaysia share market plus support from EPF. Malaysia still did not gap any flow in of hot money so Malaysia soon will be a good target for hot money to invest in.
As a result the FBM KLCI may fly sky high and economic data look very good but ours purchase power will dip to a lowest level that we might not see yet in the history.
2 comments:
Hi,
Based on what you see, when do you think a rally will pursue? Early December perhaps? With the inclusion of Petronas chemical into FBM KLCI this friday, the KLCI could be in for good support above 1500 perhaps?
Hi,
For me I think the rally will slow down if current Euro and N Korean situation did not go more badly. Government sure will use EPF money to support the index if the hot money exit from market, FBM KLCI is only base on 30 share and bank share already cover 70% of index movement so plus 3 petronas share in the list I think it will be not problem for FBM KLCI to close above 1,520 level by year end.
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