Ironically, the top 35 volume trade today are all on stocks that are priced below RM1.00. These includes many warrants. Although there is no such thing as penny stocks in Malaysia, but most of them are. One could not be regarding MAS, NTPM as penny stocks right?
Anyway, could it be the concentration on these low priced stocks on:
a) the big boys among the local fund managers are yet to be back from Raya holiday;
b) the big boys among the foreign fund managers have left Bursa; or
c) the play now has gone highly speculative.
Also notice the continuous drop in the Malaysian Ringgit against other major currencies.
3 comments:
Is that means retail investors involvement are getting higher?
Great observation Felicity. The after-effect of Fitch's warning is going to last for awhile I think.
Ironically, any good news on global economics is now a bad news for stocks market.
chyi thong, I think retail participation increased in % term, not in absolute term (just a guess I did not monitor the daily stats)
So what is it for us, the retail investor? Short term buy? UMNO election is due in October, guess by then, there may be a knee jerk reaction in the market.
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