Latest update

1. Despite still bleak export numbers, increasing unemployment, rising government debt, drastically lower corporate earnings and higher NPL's and loan defaults, markets the world over seemed to keep rising on a wave of enthusiasm.

2. Many well-known analysts are now saying the worst is probably over. Tan Teng Boo of icapital.biz even proclaimed that the start of a massive new bull run had begun. It is hard to think counter to such knowledgeable opinions. But I cannot see much reason for optimism at this moment, not while the figures coming in still look so bad. And not while the world's debt problems are not only not being solved, but being compounded by government action.

3. The last few days has seen some up-down activity on Bursa and abroad. On days when the CI surged ahead, the effect was generally not felt across the board, with recent market leaders failing to make new highs or closing in the red. Largely, the CI was helped along by rising plantation stocks. Overall resistance seems to be building though.

4. Have not updated last two transactions, they are as follows:

Latest disposals:

RCECAP: -20,000 (0.46) ... Balance 30,000

MUHIBAH: -4,000 (1.23) ... Balance 26,000


/ichithekiller