Check my post this morning on 3 Reasons KLCI wont close above 1500 this morning, and now KLCI down 16.25p or 1.1% to 1475.64 at close on the 1st day of trade in November.
Why KLCI down so much?
1. China growth may already be dragged by decline in Europe as its Purchasing Manufacturing Index or PMI drop to 3 year low level of 50.4 in Oct-2011.
2. At 4pm, Europe market tumbled more than 3% after Greek Prime Minister George Papandreou called a referendum and a parliamentary confidence vote, potentially derailing the European bailout effort and pushing Greece into default.
3. Foreign investor may start selling again. MYR has weakened 1.9% against USD today as of 5pm. In a normal day, you seldom see such a huge changes.
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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