KLSE burst, election has to wait
Forget about early election. Start from 14 Jan 2008, Malaysia stock exchange KLSE keep going south. In less than 7 working days, the stock exchange plunge 153 points, from 1507 to 1354, nearly 10.15 % of value vaporised.
Perhaps everyone must give a big thanks to the leading stock index of Malaysia KLSE on the plunge : Finance. Because the Finance index plunge accumulate to 10.7% start from 14 January.
Although analyst start calling it as “oversell”, but I dare to bet, despite of all “feels good” call, no fund manager will dare to buy until the dust settle down.
Bare in mind that Malaysia KLSE are NOT the worst getting hit. And that is the worrisome part. Because this will make KLSE look expensive compare to regional stock market, hot money will eventually take advantage to exit KLSE. Together with the strong ringgit vs US$, the foreign fund manager can laugh their way towards the bank!
Perhaps Dollah should take advise Tun Mahathir famous advise : The stock market are a big gambling table.