kakashiNot to spook anyone but I am betting KLCI might touch 1550 in near term...and if its bad enough, 1500. Why? 1. Depreciation of RM, making imports much more expensive. Foreign selling RM bonds. 2. China economy shrinking, thus, government devalue yuen (3rd time now)sparking a currency war to boost its export. Many companies are selling goods to China, but with yuen decreasing, china will lose its buying power. 3. Shanghai index volatility. drop 5% today buy government backing bring it up to 2% increase. 4. Oil price hovering at 6 years low and expected to trend lower. Malaysia is primarily a O&G country, PETRONAS contribute RM8 bil as tax to government yearly. This time, we are seeing only RM4 bil (USD100 per barrel becomes USD45 per barrel). Blue chips counters in O&G will weight 5. Political instability. 6. Commodities are trading low prices. Copper, oil, due to devalue of Yuen, making China buying power to decrease.
alphajackEPF ni goreng banyak la..betul betul have to salute ini EPF..really defend PCHem although this stock only deserves 4 ringgit. Hope the foreigners take this opportunity to dump this trash back to them tomorrow hahahahaha
tinyinvestorgood news in today's paper. revenew increased by increased 39%. 3 petrochemical plant project under RADIP injected into PCHEM..
KUALA LUMPUR (May 9): Higher tax expense pulled down Petronas Chemicals Group Bhd's (PetChem) net profit by 2.1% to RM592 million or 7 sen per share for the first quarter ended March 31, 2016 (1QFY16) from RM605 million or 8 sen per share a year ago.
goldentriangleHo Sei Liao!!! Most of the Asian stock market continue it's bull run and making record high!!! Japan Nikkei closed at 16,919.92 (+184.80) (+1.10%) Hang Seng closed at 22,766.91 (+186.36) (+0.83%) Shanghai Composite closed at 3,050.67 (+48.03) (+1.60%) Taiwan Stock Index closed at 9,150.39 (+18.56) (+0.20%) KLSE closed at 1,684.15 (+5.35) (+0.32%)
Foreign Funds continue to pump in into KLSE!!! Our KLSE just 168x only, by right now should above 18xx already, still got so many space can going up!!!
And oil price also continue it's bullish status!!! US Nymex settled at $44.49 (+$1) (+2.3%) Brent settled at $46.90 (+0.87) (+1.87%) KLSE Next week will break 17xx points, All the Ah Ju, Ah Mao, Ah Kao counters was shooting up crazily!!! And good O&G company like PChem which is one of main KLSE composite index component will skyrocketing up also!!!
goldentrianglewow, All asian stocks continue it's bull run !!! Nikkei closed at 17,081.98 (+44.35) (+0.26 percent) Hang Seng closed at 23,787.68 (+138.13) (+0.58 percent) Singapore closed at 2,896.55 (+44.81) (+1.57 percent) Shanghai closed at 3,090.71 (+18.62) (+0.61 percent)
goldentriangleAnd as at 7.10pm oil price also on it's bull run !!! US Nymex at $44.94 (+0.50) (+1.13 percent)
Market sentiments become better and better, tommorrow Pchem definitely will go up up!!!
L. C. ChongPCHEM Analysis - https://lcchong.wordpress.com/2016/09/09/pchem-fundamental-analysis-9-sep-2016/