Posted by Keyman188 > 2020-01-31 22:51 | Report Abuse

Today KLCI closing unexpected to break 1533 level.....

No eye see liao.......

For those pick up so many sure pening....

For those waiting fruition to come sure laughing...

For those look see look see sure scary....

Posted by Keyman188 > 2020-02-01 08:41 | Report Abuse

DJIA drop >600 pt (2.09%)...

S&P 500 drop >50pt (1.77%)...


## Expected to drop at least 10% ~ 12% from peak level......

Posted by Keyman188 > 2020-02-01 08:48 | Report Abuse

All waiting China Stock market reopen...

Expected to be dropping by 10% ~ 15% within 5 trading days...

Posted by Keyman188 > 2020-02-02 11:53 | Report Abuse

First Person Outside of China Dies in Philippines: Virus Update
Bloomberg News
(February 2, 2020, 6:53 AM GMT+8 Updated on February 2, 2020, 11:21 AM GMT+8)

A 44-year-old man died on Saturday as a result of coronavirus in the Philippines, the World Health Organization says. The Wuhan resident who traveled there is the first known person to have died outside China from the virus.

The death toll in China exceeded 300 and infections accelerated, as more countries restricted travel to and from the country amid rising fears of contagion.

The Philippines is the latest to prevent travelers from China from entering as governments sought to keep those exposed to the potentially lethal virus from their shores. Airlines in Asia, Europe and the Middle East are also suspending flights to the mainland.

##https://www.bloomberg.com/news/articles/2020-02-01/apple-shuts-stores-hong-kong-medical-strike-set-virus-update?srnd=premium-asia

Posted by Keyman188 > 2020-02-02 12:06 | Report Abuse

An analysis of the market sell-off: What’s likely causing it and how worried you should be (Published Sat, Feb 1 20208:09 AM EST)


~ The S&P 500 has dropped 3% from its record high. Economically cyclical groups have been purged. Bonds are leading stock returns one month into the year.

~ Something was bound to come along and prompt a pullback. As it happened, the viral outbreak arrived to do the job.

~ Given that a perfectly routine decline following a strong multi-month rally could amount to 2% to 5%, a further drop of 2% to 3% would not compromise the broader uptrend.

~ Bond markets pricing in a high likelihood of another Fed rate cut around mid-year.


Wall Street is suffering a risk-off relapse, producing a milder but familiar set of the symptoms felt during last year’s overdone summertime recession scare.

Bond yields have rushed toward their old lows, flattening the gap between very short-term and 10-year Treasuries. World growth expectations are rolling over, as China’s work and travel restrictions to contain the Wuhan coronavirus defer the payout of the trade-peace dividend that investors expected after the U.S.-China trade deal.

And a stock market has gotten a pretty good rinse — though not yet a true washout. The S&P 500 has dropped 3% from its record high. Economically cyclical groups have been purged. Bonds are leading stock returns one month into the year. And the top-performing sector for the year so far is utilities, followed by the marquee tech giants believed to be impervious to economic ebbs and flows.

All this is happening in a market that had become quite stretched in terms of valuation, investor sentiment and positioning, as noted here three weeks ago. Something was bound to come along and prompt a pullback. As it happened, the viral outbreak arrived to do the job, in the process fogging the growth outlook and draining risk appetites.

What to watch for next

The action and Wall Street narrative recall the backdrop to the August-September market retrenchment. So, what does that period imply about the correct playbook now?

On a tactical basis, it means watching for signs of climactic selling, rising fear levels and oversold conditions that often accompany the end stage of a pullback. Given that a perfectly routine decline following a strong multi-month rally could amount to 2% to 5%, a further drop of 2% to 3% would not compromise the broader uptrend.

Such a spillback from here would take the index back to where it broke out to a string of record highs in mid-December. In both August and May of last year, sell-offs that caused investor anxiety to spike and hedging activity to grow fevered. By the end of last week, these responses were starting to show up but not in a decisive way.

Tim Hayes, chief global investment strategist at Ned Davis Research, noted the worldwide recoil from risk and said, “To an increasing extent, breadth indicators reflect downside momentum, yet sentiment indicators are far from indicating that the excessive optimism has given way to extreme pessimism. And it has yet to become evident that the market has adjusted to the probability that the outlook for economic growth and earnings is less favorable than suggested by the stretched valuations.”

And the build-up of investor anxiety over the U.S. election and rise of Bernie Sanders in the polls for the Democratic nomination suggests that primary results will be a part of any crescendo in Wall Street worry that would be a part of this sentiment reset.


##https://www.cnbc.com/2020/02/01/whats-likely-causing-the-market-sell-off-and-how-worried-you-should-be.html

Posted by Keyman188 > 2020-02-02 18:22 | Report Abuse

Malaysia records RM409.14m fund outflow amid Wuhan virus outbreak
(Bernama - February 02, 2020 12:29 pm +08)



KUALA LUMPUR (Feb 2): Foreign investors were net sellers in the local equity market last week, recording a total net outflow of RM409.14 million from Jan 28-30 against a net inflow of RM23.48 million from Jan 20-23.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said this came after news about the 2019 novel coronavirus outbreak continued to hog the limelight.

"The average participation rates for foreign and local institutions stood at 19.45% and 44.91% respectively, compared with 18.4% (foreign institution) and 54% (local institution) in the same period the previous week," he told Bernama.

The local institution recorded RM115.73 million worth of net buying during Jan 28-30 period, compared with a net selling of RM48.51 million during Jan 20-23 period.

Meanwhile, net fund flows for the local retail recorded a net buying of RM293.41 million, with an average participation of 35.64% during the Jan 28-30 period compared with a net buying of RM25.03 million, with an average participation of 27.97% during the previous period.

Afzanizam said the markets remained cautious about coronavirus as the World Health Organisation (WHO) had already classified the outbreak a Publich Health Emergency of International Concern, suggesting its severity.

However, the WHO commended efforts by the Chinese authorities for its handling of the outbreak and sharing of the latest information on the extent of its transmission.

"In a nutshell, it’s a risk-mode during the week," he said.

On a similar note, AxiCorp's chief market strategist Stephen Innes said the negativity in the sell-off took place when coronavirus fears took over among market traders as they were quick to throw their rational capital away.

"There has been some struggle for inflows in the region this week, but if the incidence of virus spread starts to slow down next week, I expect that market will be hunting for yields, especially for the undervalued equities and bonds, should the US Federal Reserve comes out with a dovish tone," he said.

Innes said if the virus quickly de-escalate, fund inflows into markets like South Korea, Malaysia and Australia were his top picks for next week, given that those countries were among China's biggest trade partners.

"Besides that, the stabilising of the Chinese yuan against the US dollar, which has traded below RMB7.0 to US$1, is also good sign for those markets," he added.


##https://www.theedgemarkets.com/article/malaysia-records-rm40914m-fund-outflow-amid-wuhan-virus-outbreak

Posted by Keyman188 > 2020-02-02 18:29 | Report Abuse

I sangka banyak orang tak percaya...

Next 24 months KLCI will test low between 1060 ~ 1220...

Posted by Keyman188 > 2020-02-02 18:29 | Report Abuse

Aku sendiri pun tak percaya...

Tapi...aku pun nak tengok mujuk tak....

Posted by Keyman188 > 2020-02-03 07:57 | Report Abuse

Latest update from Bloomberg new @ 7.55am...

,"China says Coronavirus cases rise to 17,205 & death toll rises to 361"..........

Posted by Keyman188 > 2020-02-03 08:00 | Report Abuse

Coronavirus live updates: China says death toll hits 361 as confirmed cases rise to 17,205

(Published Sun, Feb 2 20206:30 PM ESTUpdated Moments Ago)

##https://www.cnbc.com/2020/02/03/coronavirus-latest-updates-china-hubei-wuhan-cases.html

Posted by Keyman188 > 2020-02-03 11:20 | Report Abuse

Foreign investors dumped RM659.7m local equities last week as virus fears intensified, says MIDF Research

(theedgemarkets.com February 03, 2020 09:43 am +08)

KUALA LUMPUR (Feb 3): International investors dumped RM659.7 million net of local equities last week for the largest weekly foreign net outflow in eight weeks, according to MIDF Amanah Investment Bank Research.

In his weekly fund flow report today, MIDF Research’s Adam M Rahim said the local stock barometer began the week on a sombre note as offshore investors sold RM70.9 million net on Tuesday (Jan 28).

He said the ringgit also followed suit to lead decliners in Asia with a 0.7% depreciation against the greenback due to growing concerns over the spread of the n-coronavirus.

Adam explained that travel related counters such as Malaysia Airports Holdings Bhd and AirAsia Group Bhd lost ground to decline by 6.7% and 3.8% respectively on the same day.

“Foreign net selling activity picked up steam to reach RM234.1 million net on Wednesday as the number of people infected with the coronavirus reached around 6,000.

“The heavy foreign net selling on Wednesday was also observed in other peers namely Thailand and India,” he said.

Adam said international investors continued selling for the third consecutive day on Thursday at a tune of RM104.2 million.

He said although the US Federal Reserve (Fed)’s move to leave interest rates unchanged was expected, sentiment waned after Fed Chair Jerome Powell cited uncertainties on trade policy and the pandemic outbreak.

“Friday experienced another bloodbath as offshore funds offloaded RM250.5 million net following the WHO’s declaration.

“The FBM KLCI followed suit to decline 0.9% to 1,531.1 points, the lowest close in more than five years.

“For the month of January 2020, international funds have sold RM138.3 million net,” he said.

Adam said in comparison to the other three ASEAN markets MIDF Research tracks, Malaysia has the smallest foreign net outflow on a year-to-date basis after Thailand and the Philippines.

“In terms of participation, the average daily traded value (ADTV) of foreign investors surged by 67.2% year-on-year during the week despite the holiday-shortened week.

“In addition, the ADTV breached above the healthy level of RM1.0 billion at RM1.13 billion,” he said.


##https://www.theedgemarkets.com/article/foreign-investors-dumped-rm6597m-local-equity-last-week-virus-fears-intensified-says-midf

Posted by Keyman188 > 2020-02-03 14:36 | Report Abuse

Today lowest is 1517....

Not bad...

Still above 1503 lvl........

Posted by Keyman188 > 2020-02-03 14:52 | Report Abuse

Stay tune...tone...dun...

Report card month.................

Posted by Keyman188 > 2020-02-03 15:09 | Report Abuse

Not bad....

SSE Composite Index - closed @ 2,746.61 −229.92 (7.72%)

Still room to heading south....

Past 2 years market trend....

at least 20% ~ 25% heading south from recent high....

Posted by Keyman188 > 2020-02-03 16:19 | Report Abuse

Something is not right !!!!!!

DJIA from +246 coming down to +115.........

Posted by Keyman188 > 2020-02-03 16:24 | Report Abuse

Something is not right !!!!!!

DJIA future from +246 coming down to +85.........only....

Posted by Keyman188 > 2020-02-04 08:20 | Report Abuse

Coronavirus live updates: China says its death toll hits 425 as total cases rise to 20,438

(Published Mon, Feb 3 20206:22 PM ESTUpdated 10 min ago)


##https://www.cnbc.com/2020/02/04/coronavirus-latest-updates-china-hubei.html

Posted by Keyman188 > 2020-02-04 08:37 | Report Abuse

Why central banks may not be able to save China’s economy from the coronavirus

(Published Mon, Feb 3 20203:35 PM ESTUpdated 2 hours ago)

~ Chinese authorities announced a series of monetary measures aimed at calming market fears over the coronavirus epidemic.

~ The People’s Bank of China said it would inject $1.2 trillion of liquidity into the financial system and cut short-term rates.

~ However, some economists think the problem is too deep for simple monetary easing to solve.


##https://www.cnbc.com/2020/02/03/why-central-banks-may-not-be-able-to-save-china-from-the-coronavirus.html

Posted by Keyman188 > 2020-02-04 08:56 | Report Abuse

Today market will open high....close low....

Posted by Keyman188 > 2020-02-12 15:29 | Report Abuse

BNM: Malaysia 4Q19 GDP expands 3.6% y-o-y

Malaysia’s 2019 annual GDP growth at 4.3% — slowest pace in ten years

##https://www.theedgemarkets.com/article/malaysias-2019-annual-gdp-growth-43-%E2%80%94-slowest-pace-ten-years

Posted by Keyman188 > 2020-02-13 10:48 | Report Abuse

Charlie Munger warns there are ‘lots of troubles coming’ because of ‘too much wretched excess’

(Published Wed, Feb 12 20203:30 PM ESTUpdated an hour ago)

~ Munger highlighted how much risk investors are taking when investing, particularly in China.

~ “In China, … they love to gamble in stocks. This is really stupid,” Munger said.

Munger also highlighted the proliferation of EBITDA as a profit metric as another sign of wretched excess, calling it “ridiculous.”

~ “I don’t like when investment bankers talk about EBITDA, which I call bulls--- earnings.”


Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, issued a dire warning about the future on Wednesday.

“I think there are lots of troubles coming,” he said at the Los Angeles-based Daily Journal annual shareholders meeting. “There’s too much wretched excess.”

Munger — who chairs the publisher — highlighted how much risk investors are taking when investing, particularly in China.

“In China, … they love to gamble in stocks. This is really stupid,” Munger said. “It’s hard to imagine anything dumber than the way the Chinese hold stocks.”

In the U.S. alone, investors face risks ranging from the coronavirus’ impact on the economy to political uncertainty from the upcoming presidential election. Also, the Treasury announced on Wednesday that the U.S. budget deficit increased by 25% in the first four months of the fiscal 2020 period to $1.06 trillion. However, the Dow Jones Industrial Average and S&P 500 both hit record highs on Wednesday.

‘Bulls--- earnings’

To make his point about excess, Munger cited the proliferation of EBITDA as a fake profit metric. “I don’t like when investment bankers talk about EBITDA, which I call bulls--- earnings,” he said.

“It’s ridiculous,” Munger said, noting EBITDA — which is short for earnings before interest, taxes, depreciation and amortization — does not accurately reflect how much money a company makes, unlike traditional earnings. “Think of the basic intellectual dishonesty that comes when you start talking about adjusted EBITDA. You’re almost announcing you’re a flake.”

Uber shares jumped last week after saying it was moving up its “EBITDA profitability” target to the fourth quarter of this year.

But that’s not all that’s bothering Munger. He also said the innovation boom he has experienced throughout his live could start to wane.

“I do think that my generation had the best of all this technological change,” said Munger, 96, noting medicine has improved dramatically during his lifetime while inventions such as air conditioning have increased the standard of living. “I don’t think we’re going to get as much improvement in the future because we’ve gotten so much already.”

Investors of all stripes look forward to Munger’s annual address since because of the wisdom he shares. Munger is also considered to be one of the best investors and business thinkers ever. Before joining Buffett at Berkshire, Munger ran an investment partnership that returned an average of 20% per year from 1962 to 1975. Meanwhile, the S&P 500 averaged an annual return of just 5% in that time.


##https://www.cnbc.com/2020/02/12/charlie-munger-warns-there-are-lots-of-troubles-coming-because-of-too-much-wretched-excess.html

Posted by Keyman188 > 2020-02-13 14:48 | Report Abuse

If you look at current bluechip counters.....

Sooner or later become bull cheap counters......

Posted by Keyman188 > 2020-02-24 07:48 | Report Abuse

Political Tumult Brews in Malaysia With Ruling Alliance Upended

(By Anisah Shukry, Hadi Azmi, and Y-Sing Liau
February 23, 2020, 10:55 PM GMT+8 Updated on February 24, 2020, 2:52 AM GMT+8)

‘Sell Signal’

“It’s a sell signal,” said Stephen Innes, chief market strategist at Axicorp Ltd. “The current situation will likely mean there will be horse-trading going on and that may be more likely to boost spending rather than fiscal prudence and, perhaps, the risk here is more massive deficits. But the more parties involved, the more complicated the horse-trading.”

The Malaysian benchmark stock index has fallen 17% since the 2018 elections, making it one of the 10 worst-performers globally.

While the monarchy’s role in Malaysia is largely ceremonial, the king retains some discretionary powers and political leaders typically meet the ruler before announcing major political changes. Mahathir wasn’t present at the meeting with the king or a dinner later attended by many party leaders from ruling and opposition groups.


##https://www.bloomberg.com/news/articles/2020-02-23/anwar-says-there-are-attempts-to-form-new-malaysian-government?srnd=politics-vp

Posted by Keyman188 > 2020-02-24 07:54 | Report Abuse

Here’s how to tell a bear market is coming

(Published Sat, Feb 22 20207:06 AM ESTUpdated Sun, Feb 23 20209:49 AM EST)

~ Using history as a guide, Bank of America Securities curated a “bear market signposts” list for clients to help gauge when stocks might be close to bear market territory.

~ The list of 19 signals ranges from fundamental to sentiment-related indicators and uses data tracking back to 1968.

~ In the past, when more than 80% of the indicators are triggered, a bear market has occurred.

~ A bear market is when stocks fall 20% from their most recent highs.

Here’s a full list of the bear market indicators from Bank of America:

- Federal Reserve raising interest rates

- Tightening credit conditions

- Minimum returns in the last 12 months of a bull market have been 11%

- Minimum returns in the last 24 months of a bull market have been 30%

- Low quality stocks outperform high quality stocks (over six months)

- Momentum stocks outperforming (over six to 12 months)

- Growth stocks outperforming (over six to 12 months)

- 5% pullback in stocks over the last year

- Stocks with low price-to-earnings ratio underperform

- Conference Board’s consumer confidence level has not hit 100 within 24 months

- Conference Board’s percentage expecting stocks go higher

- Lack of reward for earnings beats

- Sell side indicator, a contrarian measure of sell side equity optimism

- Bank of America Fund Manger Survey shows high levels of cash

- Inverted yield curve

- Change in long-term growth expectations

- Rule of 20, trailing price-to-earnings ratio added to CPI is above 20

- Volatility index spikes over 20 at some point within the last 3 months

- Earnings estimate revisions rule

##https://www.cnbc.com/2020/02/22/heres-how-to-tell-a-bear-market-is-coming.html

Posted by Keyman188 > 2020-02-24 07:55 | Report Abuse

At this juncture, Malaysia market facing 2 downside risk....

Internal political uncertainty....

External global economic impact....

Posted by mrlimitdown > 2020-02-24 08:05 | Report Abuse

time to limit down for bursa

Posted by Keyman188 > 2020-02-24 08:42 | Report Abuse

This whole week, foreign funds definitely massive outflow fund from this market....

Unavoidable situation.....

Posted by Keyman188 > 2020-02-24 08:42 | Report Abuse

Pre-trading already -30 points...............

Posted by Keyman188 > 2020-02-24 10:09 | Report Abuse

Mahathir Poised to Split With Anwar Again in Malaysia Shakeup

(By Anisah Shukry, Hadi Azmi, and Y-Sing Liau
February 23, 2020, 10:55 PM GMT+8 Updated on February 24, 2020, 9:24 AM GMT+8)

Malaysian politics is set for another shakeup, but with a familiar script: Prime Minister Mahathir Mohamad refusing to hand power to Anwar Ibrahim.

Barely two years after he joined with his old rival for a stunning election win that ousted an alliance in power for six decades, Mahathir’s supporters are reportedly maneuvering to form a new government that will exclude Anwar, the man positioned to be his successor. The episode is reminiscent of the 1990s, when Anwar was ousted from Mahathir’s cabinet and arrested for sodomy.

Despite pledges ahead of the May 2018 election to hand power to Anwar, the 94-year-old premier has repeatedly said he’ll step down only after resolving problems inherited by the previous administration. Anwar said they had an “understanding” it should take place around May this year.

Mahathir Shows No Sign of Handover of Power, Choice of Successor


##https://www.bloomberg.com/news/articles/2020-02-23/anwar-says-there-are-attempts-to-form-new-malaysian-government?srnd=premium-asia

Posted by Keyman188 > 2020-03-01 14:49 | Report Abuse

Net outflow dominates market amid political turmoil
(Bernama / theedgemarkets.com March 01, 2020 13:04 pm +08)

KUALA LUMPUR (Mar 1): Malaysia saw its net outflow dominated the equity market last week, surpassing a net sell of over RM1.15 billion compared with the previous week's RM447.9 million due to the unnerving political turmoil which culminated in the scramble among political parties seeking to form the next government.

An analyst said the one-week political instability had caused the net outflow to spike on Monday as the main index, the FBM Bursa Malaysia KLCI (FBM KLCI), declined 2.68 per cent or 41.14 points to 1490.06 points, as well as on Friday, with the index tumbling 1.52% or 22.95 points to 1,482.64.

"As the index plunged to almost a nine-year low, the oversell scenario is in place. However, the downside risk of the prolonged political crisis combined with COVID-19 concerns would keep the investors at bay for now," she said.

Over the week, the country fell into a sinkhole after the ruling Pakatan Harapan collapsed following the resignation of the then Prime Minister Tun Dr Mahathir Mohamad which led to the dissolution of the cabinet.

However, shortly after his resignation, Dr Mahathir was re-appointed as interim Prime Minister by the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah to resolve the stalemate.

On Saturday, in a stunning turn of events, His Majesty appointed Tan Sri Muhyiddin Yasin as the eighth prime minister.

High Highness made his decision in line with article 40(2)(a) and article 43(2)(a) of the Federal Constitution on the basis that Muhyiddin possibly had the support of a majority in parliament, an Istana Negara’s statement said Saturday.

The statement was issued by the Comptroller of the Royal Household Ahmad Fadil Shamsuddin.

Muhyiddin was sworn in as prime minister at Istana Negara at about 10.30am Sunday.

On Thursday, Dr Mahathir, as interim Prime Minister, presented the 2020 Economic Stimulus Package worth RM20 billion to shield the country's economy from the COVID-19 impact and boost local consumption, while assisting the sectors affected the most such as tourism and services.

Besides the political squabble, the market would also be influenced by the corporate results season, as well as the upcoming FTSE World Government Bond Index (WGBI) review in March, where an exclusion from the WGBI list would cost the local bourse its international market accessibility.

On the ringgit performance, the political realignment had caused the local currency to decline to 4.2120/2180 on Friday compared with 4.1900/1940 previously, while the FBM KLCI dropped 48.56 points to 1,482.64.

According to an analyst, the ringgit is expected to remain on the downside due to lack of positive catalysts, the political scene, as well as the prevailing COVID-19.

Meanwhile, Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the risk aversion had been prevalent since the COVID-19 outbreak outside China spread at a rapid pace alongside the domestic political uncertainty.

"We could see the bond yields had fallen with the 3-,5- and 10-year Malaysian Government Securities (MGS) yields dropping by 8.0, 10.0 and 8.0 basis points on week-on-week basis to close at 2.62%, 2.67% and 2.83%, respectively, on Friday.

"Given the current COVID-19 situation, all eyes will be focusing on the February’s PMI indices to gauge its immediate impact to the economy," he said.

As for next week, Afzanizam said investors would await the next Bank Negara Malaysia’s decision on its overnight policy rate (OPR) on March 3.

"We see a high chance that BNM would reduce the OPR by 25 basis points to 2.50 per cent to complement the fiscal stimulus measures announced on Feb 27," he said.

##https://www.theedgemarkets.com/article/net-outflow-dominates-market-amid-political-turmoil

Posted by Keyman188 > 2020-03-01 14:53 | Report Abuse

Intermediate support 1481...

Next level soon to reach 1448...

Subsequent level can see 1349.....

Within 18 ~ 24 months can be surprised @ 1220.....

Posted by Keyman188 > 2020-03-02 10:03 | Report Abuse

I have told you last month....

But.....

A lot of players stubbornly not listen.....

Damn Good JOB......................................

Posted by Keyman188 > 2020-03-02 14:58 | Report Abuse

Foreign funds sold RM1.97b in February — largest monthly outflow since August 2019
(theedgemarkets.com / theedgemarkets.com March 02, 2020 14:14 pm +08)

KUALA LUMPUR (March 2): Offshore investors upped the ante in selling activity last week, taking out a whopping RM1.26 billion net of local equities, said MIDF Research.

This was the largest weekly foreign net outflow in 88 weeks, it added.

In his weekly fund flow report yesterday, MIDF Research analyst Adam Mohamed Rahim said the month of February saw a foreign net outflow of RM1.97 billion — the largest monthly foreign net outflow since August 2019, which saw international funds taking out RM2.6 billion.

"On a year-to-date basis, the foreign net outflow from Malaysia stood at RM2.11 billion, the third smallest among the seven Asian markets (South Korea, Thailand, Indonesia, the Philippines, India, Taiwan and Malaysia) under our coverage," he added.

Adam noted that Bursa Malaysia had a sluggish start to the week ended Feb 28 as foreign investors only sold RM74.3 million net of local equities on Monday.

"The level of foreign net selling activity then accelerated to RM202.8 million net on Tuesday, taking cue of the Dow Jones index which lost more than 1,000 points overnight."

He said foreign net selling peaked during the week on Wednesday at RM362 million following the increase in the number of coronavirus (Covid-19) cases in South Korea, which exceeded 1,000.

"The spike of cases in South Korea reinforces that the spread of the virus outside China is accelerating. Wednesday’s heavy sell-off was in conformity with regional peers," he added.

Worries intensified on Thursday, said Adam, as South Korea reported 505 new coronavirus infections on Thursday, marking the first time a country posted more new infections than China. This resulted in foreign funds selling RM291.5 million net on Bursa on that day.

"International funds continued to sell on Friday at a heightened level of RM333.4 million net, extending the foreign net selling streak on Bursa to seven days. The local stock barometer followed suit, declining by 1.5%, closing at 1,482.6 points on Friday, a level not seen since 2011 amid Malaysia’s political situation," he said.

In terms of participation, the average daily traded value of foreign investors surged the most by 100% for the week to reach a healthy level of RM1.93 billion.

Adam said havoc wreaked Asian equity markets last week as fears from the Covid-19 sparked a massive sell-off in the region.

"Based on the provisional aggregate data for the seven Asian exchanges that we track, investors classified as foreign dumped US$8.44 billion net last week compared to the US$1.52 billion net disposed [of] in the week before," he added.


##https://www.theedgemarkets.com/article/foreign-funds-sold-rm197b-february-%E2%80%94-largest-monthly-outflow-august-2019

Posted by Keyman188 > 2020-03-03 08:53 | Report Abuse

Too sad today...

I foresee a lot of retailers will be caught up by those Funds Managers favour counters.....

"Kosong candlestick"......

Posted by Keyman188 > 2020-03-03 09:05 | Report Abuse

Alert...Alert..."Kosong Candlestick".....

Posted by Keyman188 > 2020-03-03 09:57 | Report Abuse

Haa...Haa....I told you..."Kosong Candlestick"....

Who kena trapped this morning !!!!!!!

Posted by ahbah > 2020-03-03 10:02 | Report Abuse

Keyman188 is a true doomsday prophet here, 100% chun chun in his mkt prediction.

Congratulations !

Posted by Keyman188 > 2020-03-03 10:09 | Report Abuse

Yesterday hit low @ 1456...

Very close to 1448 intermediate support level...

Posted by Keyman188 > 2020-03-03 10:35 | Report Abuse

Bull market run already end tail....

Bear market just begun..............

This few days pause for further deceleration only...(give market some breath)....

Market confirm vulnerable & unsustainable......

Posted by ahbah > 2020-03-03 11:28 | Report Abuse

NEW YORK: The hit to US corporate earnings from the coronavirus epidemic is getting harder and messier to predict.

Wall Street strategists have been slashing forecasts as the impact from the virus is set to be felt far further than the first quarter, putting 2020 profit growth in jeopardy.

Posted by ahbah > 2020-03-04 10:57 | Report Abuse

The Caixin China services purchasing managers index fell to 26.5 in February from 51.8 in January, Caixin Media Co. and research firm Markit said Wednesday.

The reading was well below the 50 mark that separates expansion from contraction.

Posted by ahbah > 2020-03-04 11:06 | Report Abuse

“I think the Fed’s rate cut backfired in many ways. Instead of soothing the market, it’s reignited investors’ worst fears,” Michael Arone, chief investment strategist for State Street Global Advisors, told MarketWatch in a phone interview.

Rate cut can backfire ?

It can bring the mkt down instead of up ?

Posted by stockraider > 2020-03-04 11:23 | Report Abuse

no lah....the day b4 dow up strongly...5%.....they(mkt} maybe anticipating fed cut mah.....!!

Now FED anoounce cut....down 2.5% still down lower than 5% up mah...!!

I think it already stabilise going fwd with the rate cut loh...!!

Posted by ahbah > Mar 4, 2020 11:06 AM | Report Abuse

“I think the Fed’s rate cut backfired in many ways. Instead of soothing the market, it’s reignited investors’ worst fears,” Michael Arone, chief investment strategist for State Street Global Advisors, told MarketWatch in a phone interview.

Rate cut can backfire ?

It can bring the mkt down instead of up ?

Posted by ahbah > 2020-03-04 11:25 | Report Abuse

Now I got it.

The mkt move a step faster than Fed.

Posted by ahbah > 2020-03-05 20:28 | Report Abuse

The polarizing Wall Street prognosticator says that the Federal Reserve’s latest move, an emergency half-a-percentage-point interest rate cut on Tuesday to a 1-1.25% range for fed funds, may be the pin that ultimately pricks what he believes is a raging stock-market bubble.

“The problem isn’t the pin, the problem is the bubble and once the bubble is pricked, the damage is done and the air is coming out of this bubble,” he told MarketWatch during a Tuesday afternoon phone interview.

“If it wasn’t the coronavirus, it would have been something else,” Schiff said.

Posted by ahbah > 2020-03-06 17:51 | Report Abuse

Covid-19 oredi conquered all the stk mkts in the world ?

Onli healthcare counters can defeat Covid-19 ?

Posted by Keyman188 > 2020-03-09 08:05 | Report Abuse

Oil plummets 30% as OPEC deal failure sparks price war
(Published Sun, Mar 8 20206:03 PM EDTUpdated 8 min ago)

Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war.

International benchmark Brent crude futures plummeted 30% to $32.05 per barrel. U.S. West Texas Intermediate crude dropped 27% to $30 per barrel, its lowest level since Feb. 22, 2016.

“This has turned into a scorched Earth approach by Saudi Arabia, in particular, to deal with the problem of chronic overproduction,” Again Capital’s John Kilduff said. “The Saudis are the lowest cost producer by far. There is a reckoning ahead for all other producers, especially those companies operating in the U.S shale patch.”

After the initial drop the losses were pared somewhat, with each contract trading down slightly more than 21%.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to a Reuters report. The kingdom currently pumps 9.7 million barrels per day, but has the capacity to ramp up to 12.5 million barrels per day.

“We believe the OPEC and Russia oil price war unequivocally started this weekend when Saudi Arabia aggressively cut the relative price at which it sells its crude by the most in at least 20 years,” Goldman Sachs analyst Damien Courvalin said in a note to clients Sunday. “The prognosis for the oil market is even more dire than in November 2014, when such a price war last started, as it comes to a head with the significant collapse in oil demand due to the coronavirus,” the firm added.

Goldman cut its second and third quarter Brent forecast to $30 per barrel, and said that prices could dip into the $20s.

Saudi Arabia’s price cut followed a breakdown of talks in Vienna last week. On Thursday, OPEC recommended additional production cuts of 1.5 million barrels per day starting in April and extending until the end of the year. But OPEC ally Russia rejected the additional cuts when the 14-member cartel and its allies, known as OPEC+, met on Friday.

The meeting also concluded with no directive about the production cuts that are currently in place but set to expire at the end of the month. This effectively means that nations will soon have free rein over how much they pump.

“As from 1 April we are starting to work without minding the quotas or reductions which were in place earlier,” Russian Energy Minister Alexander Novak told reporters Friday at the OPEC+ meeting in Vienna, adding, “but this does not mean that each country would not monitor and analyze market developments.”

Oil prices have already moved sharply lower this year as the coronavirus outbreak has led to softer demand for crude. A potential supply glut could pressure prices further.

“Both events – coronavirus and OPEC+ falling apart were not expected or priced into the market a month ago,” said Rebecca Babin, senior equity trader for CIBC Private Wealth Management. She said the key things to watch going forward are whether or not Saudi Arabia and Russia reach a “Hail Mary” deal, and if not, how quickly U.S. supply is shut in to support prices.

“There is still significant uncertainty, but the commodity market is not waiting around to find out if miracles can happen,” she added.

The unfolding of events is reminiscent of 2014 when Saudi Arabia, Russia and the U.S. competed for market share in the oil industry. As production escalated, prices plummeted. Some see prices heading back to those lows.

″$20 oil in 2020 is coming,” Ali Khedery, formerly Exxon’s senior Middle East advisor and now CEO of U.S.-based strategy firm Dragoman Ventures, wrote Sunday on Twitter. “Huge geopolitical implications. Timely stimulus for net consumers. Catastrophic for failed/failing petro-kleptocracies Iraq, Iran, etc - may prove existential 1-2 punch when paired with COVID19.”

## https://www.cnbc.com/2020/03/08/oil-plummets-30percent-as-opec-deal-failure-sparks-price-war-fears.html

Posted by Keyman188 > 2020-03-09 21:11 | Report Abuse

Unfortunately today already break...........