KLCI slumped 15.67 points today to 1487.53 points, aligned with major lost in Hong Kong and China. There are possibly 2 factors that lead to today massive drop: i) Concern about Ireland bailout may not contain the debt problem & ii) China more aggressive steps to control inflation. Listed below are the top 3 losers and some reasons why I think they drop:
1. KULIM - Drop 76 sen to RM11.90
Still the same "Buy on rumours, sell on news". But this time it is made worse with regional market suffering huge drop. To recap, KULIM announced takeover of QSR for RM5.60 and resumed trading at 230pm today. Yesterday, the stock already drop 88 sen.
2. UTDPLT (-40sen to RM17.30)
Aligned with lower Crude Oil price, CPO also face pressure on the downside with CPO drop RM26 to RM3158 as of 545pm). This is generally negative for Plantation stocks like United Plantation.
3. DIGI - Drop 38 sen to RM24.42
The stock was the top gainer (+RM1.10) last Friday, in the absence of any major announcement. Yesterday, it drop 80 sen and today drop another 38 sen. The entry of YES into Malaysia telco may have caused the pressure to DiGi share price.
ONLINE STORE - salvadordali
5 weeks ago
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