KLCI drop 2.85 points today to 1503.20 points. Listed below are the top 3 losers and some reasons why I think they drop:
1. KULIM - Drop 88 sen to RM12.66
This is a typical "Buy on rumours, sell on news". After the announcement of KULIM takeover of QSR for RM5.60, KULIM resumed trading at 230pm today.
2. DIGI - Drop 80 sen to RM24.80
The stock was the top gainer (+RM1.10) last Friday, in the absence of any major announcement. Thus, even if the stock drop 80 sen today, net net it is still up 30 sen if you compare it with last Thursday close.
3. BAT - Drop 38 sen to RM45.16
This is an illiquid stock with only 39400 shares traded today. Thus, the share price can increase or decrease a lot (in absolute value). It is normal to see this stock either in top gainer or top loser of the day. Anyway, even with the 38 sen drop, it is just a 0.83% drop, very insignificant. However, the outlook for tobacco sector is also not that good as a pack of Dunhill 20s is now selling at RM10 (due to tax increase).
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
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