Yesterday, I posted a blog about Masteel detailing how the company would stage a rebound in 2016. The key driver to this is the price of its main product which are steel rebars. Today, Shanghai futures for steel rebars has broken the 2000 level, the highest since July 2015. Coupled with the strong Ringgit, Masteel is set to benefit from higher average selling prices and will see large reversals of forex losses recorded in 2015.

I have said before that data do not lie. Ultimately, earnings will reflect what the data pointed to and the price will follow.