Someone knocked the dumpty dumpty down the wall. I am sure it is not the opposition in wanting to take over the government, I am sure it is not the reminsers in the exchange floors. What I see today are the desperate bid made by the investors to rebound the market. This bid thought limite the fall by only 11 points in the CI, it doesn’t indicates that such fund will remain coming into the market as these are the final bids to made with whatever means possible to minimise damages to the economic. The crude oil has went down below USD 95 a barrel, making a push that cause the cascading effect, also followed by the gall of AIG and the massive withdrawal by policies holders in AIA causing massive grasp of money from being invested into the market to people’s pillows burried under their beds.
My estimate for tomorrow will be that such supporting fund will not last the distance and thus more fall in the market and crudes. I hoped that Anwar’s playing of the waiting game is considering that the much affected downfalling market is causing a lot of problem in the commoners’ pocket thus stretching it to make the element of contribution to market downfall due to political change ceased to exist.
One other thing that causes much of the investor’s concern is that the swap of portfolio yesterday between PM and DPM has caused much uncertainty as investor has speculate that our DPM has no experience in managing the bank accounts of our country.
Disclaimer: info obtained from some of my contact in the trading house. Reader discretion is advised.