CAREPLUS GROUP BERHAD
KLSE (MYR): CAREPLS (0163)
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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....
Geek2020
970 posts
Posted by Geek2020 > 2020-12-14 19:35 | Report Abuse
Tradeview Commentaries 14th December 2020 - A Time of Reckoning & The Battle of Titans
Malaysia is a blessed country with abundant of resources, human capital and potential. Before the Asian Financial Crisis of 1997 / 1998, Malaysia was regarded as a "Tiger Economy" and even Bursa (then known as KLSE) was the third largest stock exchange by value after Tokyo and Hong Kong Stock Exchange. Today, countries which were once behind us have surpassed our country in terms of economic strength, competitiveness and stability. Countries such as China, South Korea, Taiwan, Singapore are far ahead with Vietnam, Thailand and Indonesia catching up. Thankfully, Malaysia still have strong economics fundamentals laid down from our forefathers with SME forming the backbone of the economy. But, with the Covid-19 pandemic onslaught, SME segment was badly impacted with SME association forecasting close to 100,000 to shutter by end 2020. Official figures from SSM shows 30,000. The huge discrepancy is likely due to the delay in official reporting.
The stock market has however performed extremely well comparing to regional peers throughout the year. At today's closing of 1662 points, Bursa is up 4.66% YTD. This is unbelievable considering the situation in the real economy. I think regulators like BNM, SC, Bursa has done well to support the market. Another major reason is because Malaysia has a competitive Technology and Glove Sector which sustained our stock exchange during the triple whammy of oil price crash, government change and Covid-19 pandemic.
Of late, due to the announcement of vaccines such as Pfizer and its ongoing rollout, the healthcare & tech index took a beating. The rotation of funds from growth to value stocks and beat down laggards was swift. Banks, Steel, Construction, Tourism, Oil & Gas rebounded strongly while technology & glove was hit. The market rally has drawn continuous retail participation. This kept the stock market lively with average daily value above RM 4 billion.
I believe this would not be possible if not for the strong retail participation and remarkable earnings performance which led to share price ascend of glove makers. If we look at the entire stock market today, the only sector with earnings visibility and sustainability is the glove sector. Nevertheless, the sector has been thrown into the limelight for good and for bad. Praise were given for their contribution to the world supply of gloves in the battle against Covid-19 (65% of global share). Criticism being zoomed in on labour issue, Covid-19 outbreak in workers hostel and windfall in income. I covered various angles of glove sector in the past 9 months and do not want to repeat further. I have however, a friendly advice to fellow readers who are either in the IB research fraternity, media, authorities / politicians, in everything we do in life, be fair, reasonable and objective. Do not make judgments or opinions with a coloured lens. The glove sector of Malaysia is one we should be proud of. I know these days any articles on glove attracts huge number of views. I know it because I can see the statistics in my blog & channel. Do not for the sake of attention & populist agenda destroy an entire sector that was organically grown through entrepreneurial spirit, hardwork and grit. This sector is a golden goose of our country. We must preserve, protect and help improve it.
Today, Tun Dr M & Tengku Razaleigh join hands to share their input on the state on the nation including hints on tomorrow's Budget 3rd & final reading where a vote will be required of all 222 MP. This led to last minute selldown of the market close to 1.3%. I believe the stock market will continue to face profit taking until a political resolution is in place or the budget 2021 is passed. For investors, be prudent, hold sufficient cash and do not chase blindly. Avoid loss making stocks and focus on earnings or yield as your north star in this foggy times ahead. If you do that, I believe the worst will pass and eventually, you will see the light again
Source : www.tradeview.my