KUALA LUMPUR: The ringgit is expected to trend lower against the US dollar next week in anticipation of a possible interest rate hike by the US Federal Reserve.
Affin Hwang Investment Bank Vice-President/ Retail Research Head Datuk Dr Nazri Khan Adam Khan said most Asian currencies would also trend lower, given the strong US dollar index following the possibility of interest rates being raised at the next policy meeting on Sept 20-21. "Market will react defensively, because if the US Federal Reserve were to raise interest rates this month, we may see an outflow of foreign funds.
This counter is extremely unstable at the current moment. Anyhow, it is still potential to earn profit from this counter in the long run. Main consideration for investment on this counter is the holding power. Force selling will cause losses instead of profit.
Expect to go down today....T+3 for those who bought at 2 - 3 sen...Don't chase...we play we know....don't get burnt. Stock market is like Wave...up and down... must wait for it to go down first before buying.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Buy1sell2
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Posted by Buy1sell2 > 2016-09-03 10:35 | Report Abuse
Sell.