Sunday, March 2, 2008

The Market Is Giving A Bearish Signs for Barisan Nasional

The Market Is Giving A Bearish Signs for Barisan Nasional

Wedneday March 5, 2008
The Kuala Lumpur Composite Index (KLCI) closed down 33.79 points or 2.57%at 1,280.23.

Tuesday March 4, 2008.
Malaysian shares close lower again on pre-election selling

The Kuala Lumpur Composite Index (KLCI) closed down 16.59 points or 1.3percent at 1,314.02. Trading volume was 657.82 million shares, valued at 1.8 billion ringgit.

Monday March 3, 2008
Malaysian shares close sharply lower on pre-election selling

Sentiment was especially cautious ahead of the general elections this Saturday. The Kuala Lumpur Composite Index (KLCI) closed down 26.79 points or 2 percent at 1,330.61.Trading volume was 580.46 million shares, valued at 1.516 billion ringgit.

'Everybody is in a bearish mood, sentiment is not there, people are shying away from equities.'

The uncertainty about the general elections may be the prime factor behind the current downbeat mood on the local bourse, said Kenny Yee, the head of OSK Research.

'At this juncture, many, especially the foreign legion, have presumed that Election 2008 could be a testing one for the ruling coalition party,' Yee said in a client note.

The ruling Barisan Nasional coalition is guaranteed to win the elections but there is widespread belief that it will see a reduced majority this time around due to heightened ethnic tensions and the rising cost of living in the country.

State-linked stocks, which have traditionally benefited during an election year, experienced a brief run-up after the Election Commission set the polling date for March 8 before succumbing to heavy profit-taking pressure.

The KLCI has fallen by more than 6 percent since the polling date was fixed.

The Kuala Lumpur Composite Index (KLCI) has fallen by nearly 13 percent from the all-time high of 1,516.22 recorded on Jan 11.

Election 2008

Fact Sheet: Dissolution of Parliament: 13th February 2008
Nomination Day: 24th February 2008
Election Day: 8th March 2008 (Saturday)Contest: 222 Parliamentary, 505 State seats
Electorates: 10,922,139 registered voters including 221,085 postal voters