21 Jun 2018 : Share Market Closes Below 1,700 Points, 31st Day Of Consecutive Foreign Selling And FOREX Reserves Down RM8.5 Billion

Posted by izoklse > 2018-06-21 21:42 | Report Abuse

21 Jun 2018 : Share Market Closes Below 1,700 Points, 31st Day Of Consecutive Foreign Selling And FOREX Reserves Down RM8.5 Billion http://www.malaysia-today.net/2018/06/21/21-jun-2018-share-market-closes-below-1700-points-31st-day-of-consecutive-foreign-selling-and-forex-reserves-down-rm8-5-billion/ Today was the 31st day of consecutive foreign selling of our share market. RM264.9 million left Malaysia today (Thursday) in addition to the RM238.8 million, RM555 million and RM383.96 million from Monday to Wednesday. This means foreign investors have pulled RM9 billion out of our stock-market since beginning of May on top of the estimated RM20 billion foreign outflows from our bonds. Our share market fell through the 1,700 points barrier and closed at 1,692 points today – down more than 200 points since the all-time high of 1,896 reached just before GE14. BNM also reported today that their FOREX reserves have dropped RM8.5 billion since before GE14. Despite BNM using so much to defend our Ringgit, it continues to weaken to close at RM4.014 versus the US Dollar. Palm oil prices again charted another day of loss to close at RM2,050 per tonne which is a 2 year low. It’s been falling every day for the past month due to our new govt’s crazy decision to impose a 5% export tax, our attacks on China and our silence over the EU’s decision last week to stop all imports of palm-oil based bio-diesel.‎ Rubber prices in our top export market China also fell 7% to a record low of 10,050 yuan. ‎ Things are not looking so good right now and we may be on the verge of a financial crisis if this trend continues.

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12 comment(s). Last comment by izoklse 2018-06-22 01:09

Tom

2,984 posts

Posted by Tom > 2018-06-21 21:43 |

Post removed.Why?

izoklse

5,228 posts

Posted by izoklse > 2018-06-21 21:50 | Report Abuse

Guan Eng Appears Utterly Confused

http://www.malaysia-today.net/2018/06/21/guan-eng-appears-utterly-conf...

ANTI-WAYANG

Guan Eng says that RM3 billion was stolen from TRX in order to service 1MDB’s debt.

He also says that the govt will now need to bail out TRX with an additional RM2.8 billion in order to complete the project which would then make a profit as it will bring in at least RM7.6 billion in sales.

Only the uneducated and those without any sense of logic will believe our dear Finance Minister as he is purely politicizing to mislead the people.

It is important that everyone knows that the TRX project is 100% owned by 1MDB and 1MDB is 100% owned by Ministry of Finance. Let us be clear.

As everyone knows, all of 1MDB’s fund were borrowed. That includes funds used to develop the TRX project. When you borrow funds, of course you need to service the loan – which is what 1MDB did.

What is wrong with that? That is what any property developer does too when they borrow from the banks to develop a project. They will still have to service the loan during the development phase of the project.

When the project is completed, the developers will then make a profit that will cover all costs including the cost to service the loan.

This is exactly what Guan Eng said when he said the TRX project will eventually make a profit.

How then can it be called a bail-out when in the end, you make a profit – especially since you have always owned that project 100%.

Are you saying you are bailing out yourself to you can make a profit?

By Guan Eng saying we will make a profit on TRX basically proves that Arul Kanda didn’t lie when he said that 1MDB can take care of its own debts and still make a profit over time.

So, not all RM30 billion had lesap., There is still the much bigger Bandar Malaysia project that is worth at least RM20 billion as well as the multi-billion ayer hitam and Pulau Indah land. All in all, 1MDB’s current debt will be fully covered by all these appreciating asset sales.

This again proves that lumping in all those contingent liabilities which included 1MDB’s borrowings to make that RM1 trillion national debt figure is tipu!

Please… Foreign investors can see this even if millions of ordinary Malaysians cannot. That is why they keep pulling out money from Malaysia every single day as they know our finance minister prefers to scare the people and play politics in all his statements instead of managing our country’s finances and giving confidence to investors.

apolloang

18,163 posts

Posted by apolloang > 2018-06-21 21:50 | Report Abuse

agreed wif tom,now rob the glc,rob the super rich and give to the retailers,should ban call warrants,any MGO should place 10% deposit money for the retail shareholders if it is purposely withdrawn

brushsoo

50 posts

Posted by brushsoo > 2018-06-21 22:02 | Report Abuse

Izoklse, I think you are equally a sweet talker as Arul

Up_down

4,304 posts

Posted by Up_down > 2018-06-21 22:19 | Report Abuse

RM would drop further due to uncertainty of domestic economy undergoing reforming and further daunting with FED rates hike and trade wars. So we can take advantage of the situation from buying selective export stocks.

bagan

754 posts

Posted by bagan > 2018-06-21 22:25 | Report Abuse

Once rm crash, klse will have no value

Junichiro

2,050 posts

Posted by Junichiro > 2018-06-21 22:34 | Report Abuse

The consequences of unwinding QE3. Ppl were all along thinking unwindling QE3 is easy. This is the reality.

Junichiro

2,050 posts

Posted by Junichiro > 2018-06-21 22:45 | Report Abuse

When USD was 3.34 agst RM, ppl thought MYR was fantastic. It is the de facto devaluation of USD thru QE3 that brought abt this. Now with unwinding of QE3, expect the opposite.
The whole world is affected.

Junichiro

2,050 posts

Posted by Junichiro > 2018-06-21 22:48 | Report Abuse

"Once rm crash, klse will have no value"

A repeat of 1997/1998. Many regreted not having making a big bet on KLSE. After recovery came, ppl were saying they should have sold their houses n dump their $$$ into KLSE.

Well, anything can happen. Do not regret this time. Get ready yr $$$.

Ron90

3,919 posts

Posted by Ron90 > 2018-06-21 23:39 | Report Abuse

where got market crash??..index just got back to where it was in 6 months ago ler !! ..some ppl use sentiment to manipulate the stock price.

PanjiAlam55

886 posts

Posted by PanjiAlam55 > 2018-06-22 00:56 | Report Abuse

will market green or red tomorrow (22/6/2018)?

izoklse

5,228 posts

Posted by izoklse > 2018-06-22 01:09 | Report Abuse

just trade carefully. It is so bearish now.

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