Yesterday, the Bursa market was in a sea of red, with more than 1,000 declining counters. Steel counters led the overall decline and this counter was not spared too. Let's see how this counter can perform under this depressed market condition.

Today, the Bursa market was in a sea of red, with more than 1,000 declining counters. Steel counters led the overall decline and the market operator decided to give up propping its price artificially above 60 sen.

I am closely monitoring this for any good buying opportunity in such a depressed market condition.

https://www.theedgemarkets.com/article/upward-momentum-bursa-expected-spill-over-next-week

It is half-day trading today and Bursa market has closed for the week.

KUB Malaysia closed at 61 sen this morning, despite an extra long weekend for the Hari Raya Aidilfitri holidays. But on closer examination, out of 60,500 shares traded this morning, only 300 shares were done at closing at 61 sen.

Notwithstanding this, it just goes to demonstrate the operator's effort to keep the price above 60 sen, albeit artificially. No cheap sales, lah!

KLCI closes in the red as sentiment weighed by MCO 3.0, regional peers decline
https://www.theedgemarkets.com/article/klci-closes-down-628-points-157764

PM announces whole of Malaysia under MCO from May 12 to June 7. All economic sectors, however, will be allowed to operate.
https://www.theedgemarkets.com/article/pm-announces-whole-malaysia-under-mco-may-12-june-7

Today's market breadth is decidedly negative, 297 gainers vs 844 losers, even though KLCI is down merely 3.53 points. KUB Malaysia closed at 60.5 sen, barely above 60 sen.

This week is a holiday-shortened week. Let's see if the operator will churn the price low enough for me to snap up good bargains.
https://www.theedgemarkets.com/article/klci-closes-353-points-lower-158392
---------------------------------------------------------------------------------
John1234 There is a marked difference between a punter and a bargain hunter. A punter likes to act on a "bright" green price signal while a bargain hunter likes to see red.

History has shown that any short-term major price correction is usually a good buying opportunity to sell on a rebound.
09/01/2021 10:01 AM

Yesterday, we saw plantation stocks rise after CPO price rose past RM4,700 per tonne. But KUB Malaysia did not get a boost to its share price at all. Instead, it still dropped 0.5 sen.

What a joke! Was this the "deliberate" act of the operator to frustrate weak holders? We shall see in a matter of weeks.
https://www.theedgemarkets.com/article/plantation-stocks-rise-after-cpo-price-rose-past-rm4700-tonne

Market sentiment has been weak lately on continued weakness of the KLCI index and the broader market. And, the market operator takes this opportunity to correct the earlier "overbought" situation.
-------------------------------------------------------------------------------------------------------------------------
Eunbyeok Really dont understand why such good share being throw like no tomorrow...

Today, we had another red day for glove counters, after Supermax's quarterly result release.

The closing prices for the big 4 today:
Kossan - 4.02(xd), down 3.8%
Hartalega - 9.25, down 5.9%
Supermax - 4.87, down 12.6%
Top Glove - 5.06, down 4.9%

It is not surprising to see the highest % drop for Supermax as it was leading last year's glove rally by its supposedly highest ASP procured.

So far, Kossan's result was the best. Hartalega and Supermax were somewhat disappointments. Next one to watch out for would be Top Glove.

Rubberex, Comfort and Careplus are like 3 musketeers, trading at about the same prices:
Rubberex - 1.13 or 2.26(original pre-bonus issue price)
Comfort - 2.24
Careplus - 2.23

Not a buy or sell recommendation. Do your own homework.

Wow, it briefly touched a 4-week low of 60 sen this morning on continued weakness of the KLCI index and the broader mkt, but ended slightly lower at 63 sen.

For a moment, I thought the operator gave up defending its turf above 60 sen. But it was just a false alarm. No buy trigger yet.

"Volume precedes price". Broader market is weak generally and yet this counter has attracted increased trading vols + higher traded prices in recent days.

Something is brewing? We shall wait and see...

Yes, it is stated.....
Date of shares sold from 19 Apr 2021 to 19 Apr 2021
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3151331

No other announcements on share sales today.
-----------------------------------------------------------------------------------------------------------------------
stan0166 Today announcements duplicates the earlier announcement of Treasury shares changes?

Mr Deng Xiaoping once said, "Be it a white or black cat, one that is able to catch mice is always considered a good cat".

So far, I have made a few rounds of profits from KUB Malaysia, despite all its drawbacks.
----------------------------------------------------------------------------------
Loh Kok Wai W KUB dlm semua ular,dracula,piranna.........drink n eat small investor blood n meat...

Well, KUB Malaysia is indeed a deeply undervalued counter. And why is the share price not performing?

1. It is in the process of transformation of strategic business focus
2. No regular dividend payments
3. Management is not too active on investors relations. Minority shareholders sometimes feel neglected on regular updates, besides major statutory reporting

This has prompted the operator to adopt a trading approach too - collect on weakness and sell on strength. One consolation though, which I have observed of late, is the operator has stopped churning it lower than 60 sen, to possibly reflect the recent sale of oil palm land, which is likely to feature very positively in its next quarter's report.

All said, I have earlier disposed of half of my purchases when price hit 70 sen. Still waiting for the price to go higher. This also gives me the flexibility to top up more when price is deliberately pushed down much lower, especially with recent resurgence of new Covid cases.

This morning, the big 4 run up much faster in absolute prices:
1. Top Glove: 5.59(closing price), up 14 sen or 2.6%
2. Supermax: 5.77, up 23 sen or 4.2%
3. Hartalega: 10.54, up 42 sen or 4.2%
4. Kossan: 4.24, up 31 sen or 7.9%

But in terms of %, Comfort and Rubberex are not far behind:
5. Comfort: 2.78, up 9 sen or 3.4%
6. Rubberex: 1.44, up 4 sen or 2.9%

All the above price surges come after Kossan result was released.
https://www.theedgemarkets.com/article/kossan-investors-weigh-glove-makers-dividend-profit

Not a buy recommendation though. Do your own homework.

"Volume precedes its price". Glove counters were showing up at top volumes this morning.

Rubberex has finally recaptured its recent high of 1.35.

Malaysian glove counters start to move up in higher gear today. But this counter is still stagnating...

Operator collected not enough?

Based on yesterday's closing, one would expect the uptrend to continue into today.

Of course, it ultimately depends on the operator's game plan. Eg, day before yesterday, it was deliberately done to press down share prices to flush out contra players and to collect cheaper tickets.

We can only see things in retrospect.

Of the 6 main glove counters, Comfort came in 1st, surpassing even its recent high of 2.41. Really amazing! Rubberex has more to catch up for it to reach its recent high of 1.35...
---------------------------------------------------------------------------------
Pandu1 All glove naik balik lo to todays high.

WHO says more than 87% of the world’s Covid vaccine supply has gone to higher-income countries
https://www.cnbc.com/2021/04/09/who-says-poor-countries-have-received-just-0point2percent-of-worlds-vaccine-supply.html

Proposed Renewal of Authority for Share Buy-Back:
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3146403

This is no easy answer. It went up 23 sen on Thu and dropped back 10 sen on Fri. Still a net 13 sen gain, on top of a 9 sen rise on lower vols before that.

What factors are likely to influence the future price trend of glove counters?
1. Speed and uneven levels of vaccinations for global vaccine rollouts(esp for some 3rd world countries);
2. Efficacy of vaccines vs new virus mutations;
3. Fund flows + bargain hunters + shares buyback vs glove counters shorties.

Unlike Sars, there is a strong likelihood that Covid-19 virus may not go away anytime soon and we may have to live with it for a much longer time.

-------------------------------------------------------------------------------------------------------------------------
Flyinghorse Monday rebound ?

From news updates, we can gather that the rebound is due largely to a new wave of high Covid-19 cases in some countries recently, caused by potentially more transmissible and deadlier new virus variants.

Not a buy recommendation though. Do your own homework.

39.5/40 sen now. Trading stats do not lie. My analysis has proven right that the operator was accumulating(instead of selling) at 38 sen. Anyway, congrats to those who are still holding...

Never trust what we see. We need to always analyse and do our homework!

八点最热报 09/03/2021 税收比例下降 我国有必要重启消费税？
https://www.youtube.com/watch?v=b3v_aTF4kXg

Let's analyse the trading stats today to assess what actually happened.

It closed at 38 sen. Today's tradings were mainly done at 38 sen(2,667,900 shares traded or 71.3%). If really such a big chunk of shares had been thrown down at 38 sen, the price would have dropped more, to say 37 sen(my queued price). But it did not. Apparently, sellers' vol was not big and the operator was hoping to churn such a big vol at 38 sen to induce/keep the small number of disposed shares from the weak/contra holders.

Just my views, before the release of last quarter's result.
---------------------------------------------------------------------------------
lrbvuop Delay in Q4 but SP stagnant. why ?

Still hovering around 38/38.5 sen. Mkt operator sees no compelling reason to slash the price down yet. 37 sen seems so near and yet so far for me. Lol..
----------------------------------------------------------------------------------
5c0160 hopeless, 032 soon

Yes, I have said it. Once the economy recovers following the vaccine rollout, chances for GST implementation(an added bonus) could be reevaluated in a more positive light.

Today, broader market was weak. And yet, it did not drop to 37 sen, my target buy price. Chartwise, it looks oversold. I am still waiting. Lol..
----------------------------------------------------------------------------------
Stock: [IFCAMSC]: IFCA MSC BHD

Jan 22, 2021 8:33 AM | Report Abuse

Govt could reevaluate GST, improve its implementation — MIDF
https://www.theedgemarkets.com/article/govt-could-reevaluate-gst-impro...

Today, this counter closed lower at 63.5 sen. This is the 2nd day in a row in which traded vol hit above 10,000 shares. Market was mixed today. It came off after hitting an intra-day high of 70 sen.

Nothing to shout about yet, amid some profit-taking by traders.

Yesterday, we saw a breakout above on high trading vol from its recent consolidation. This is supported with news of a "confirmed" 2 oil palm assets sale worth a cash consideration of RM158m(details as in the circular to shareholders below).

Based on the circular, the Group is expected to realise a net gain of approximately
RM122.13 million arising from the proposed disposal. This will contribute positively to the next quarterly report.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3084621
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3135836

This operator has really tested our patience! After suppressing the share price for so long, push it up today, when most least expected it...
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3135836
----------------------------------------------------------------------------------
Loh Kok Wai W waste your time n money.......better sell Kub change to other counter....like MMCcorp,Dnex,......

In HK, we heard of 丁蟹效应. Does this sound familiar here?
https://www.youtube.com/watch?v=y9AN7R3U9mw

Bleh, the rights issue resolution needs to be passed at the EGM in March for it to be a valid exercise. After which, entitled shareholders can either subscribe for the rights shares or sell their entitlements in the open mkt.

Pls read the circular thoroughly to understand how the rights price is set. This will give us an idea why the operator does not want the price to go up too high to affect the rights fixing price. After the price-fixing date, it can be a different consideration.

(Extracted from the Circular to Shareholders)
The issue price of the Rights Shares under the Proposed Rights Issue with Warrants
will be determined by our Board at a later date after taking into consideration,
amongst others, the following:
(i) the historical share price of Masteel; and
(ii) the 5D-VWAMP of Masteel Shares up to the price-fixing date.

In any event, the discount of the issue price of the Rights Shares shall not be more
than 25% from the 5D-VWAMP of Masteel Shares up to the price-fixing date. This
discount range was determined by our Board after taking into consideration a suitable
issue price deemed attractive to encourage subscription of the Rights Shares by the
Entitled Shareholders and/or renouncee(s).

For illustrative purposes, an indicative
issue price of RM0.36 per Rights Shares would represent a discount of approximately:
(i) 16.7% to the theoretical ex-rights price of Masteel of approximately
RM0.4322; and
(ii) 13.1% to the theoretical ex-all price of Masteel Shares of approximately
RM0.4142 per Share.

The above theoretical ex-all price are calculated based on the 5D-VWAMP of Masteel
Shares up to 4 December 2020 of RM0.4683 (being the market day preceding the
date of the announcement of the Proposed Rights Issue with Warrants) and similarly
assuming an exercise price of RM0.36 per Warrant. The indicative issue price of
RM0.36 per Rights Share also represents a discount of approximately 23.1% to the
5D-VWAMP of Masteel Shares up to 4 December 2020 of RM0.4683.

I agree with Skywarrior. I guess the rights issue for Masteel could be the real reason why it is lagging behind. Operator does not want it to go up too high as to ramp up the right shares setting price.

Meanwhile, operator can collect cheaper tickets too.
---------------------------------------------------------------------------------
skywarrior Masteel has always been correlated with lionind. from recent price movement and volume it is quite obvious that someone has been trying to suppress masteel price to collect, as the price has been maintaining & not dropping.

Mkt operators seem afraid of Khatu. When the cat(Khatu) is here, the mice(mkt operators) stop playing? I stay away too...
---------------------------------------------------------------------------------
Joyce Lee Khatu when u come out shout buy , the price drop , when you shout sell , it goes up , why har?

Steel counters have already run up so much and so fast this week. Now, already overbought. Mkt operators need to do a shakeout to correct this "overbought" situation. Mkt also turn cautious ahead of quarterly reporting season this month.

Look at Ann Joo, it has started to u-turn this morning, down 15 sen now.
----------------------------------------------------------------------------------
Kaizer21 what happen meh

Chartwise, Masteel has staged a comeback today on good trading volume from an "oversold" situation, moving up from its recent consolidation. Got to observe the next 1 or 2 days to see if this upward momentum continues.

Incidentally, Ann Joo has breached its recent high today, hopefully this will add some optimism to Masteel.

The market operators are so smart. After collecting cheap in the last 2 days, push up strongly today...

Joyce,
Ann Joo, Lion Industries, Masteel, Southern Steel, etc are all in the steel family, led by Ann Joo, the mkt leader. From the price actions of Ann Joo, steel theme is still intact.

Lion Industries, Masteel and the gang used to move along with Ann Joo in the same magnitude. But recently, there seemed to be some disconnect in the magnitude. I think the mkt operators have tweeted the trading algorithms.

Based on the current steel prices, we could expect another profitable quarter in the coming result release this month. Even Ann Joo's share price has spiked up so much recently, but this counter is lagging behind.

There's a deliberate attempt to press down its share price by the operator. But 50 sen seems a good support currently.

Got to wait for its quarterly report out this month to assess how well the company performed last quarter, given rising steel prices....

Wow, this counter has finally moved up, ahead of its quarterly reporting this month. This is the 3rd day of advance already.

No chance to collect below 50 sen, lol.

Pls read the circular thoroughly to understand the purpose of this right issue and evaluate if it meets your investment objective.

If you truly believe in the management's expertise and steel industry's longer-term outlook, the right issue can offer you a good chance to lower your cost of investment, plus the flexibility to convert the free warrant into more shares during the exercise period.

You must make your own investment decision.
-----------------------------------------------------------------------------------
raymondlct126 Is it a right decision to take the right issue with warrant?

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3127437

Never mind. Just unload to me. I am still waiting at 37 sen, as a start. This is a long-drawn battle (like Covid-19) with the mkt operator. Never easy....

Wow, just as predicted. Can collect on weakness....
https://www.theedgemarkets.com/article/govt-likely-look-reimplementing-gst-2022-or-2023-says-affin-hwang-capital

37 sen seems difficult today as some speculative penny stocks like steel counters started to rebound...

Covid-19: MOH ready to implement first phase of National Immunisation Plan
https://www.theedgemarkets.com/article/covid19-moh-ready-implement-first-phase-national-immunisation-plan