Chart 1: FBMKLCI & FBMEMAS as at Jun 15, 2017 (Source: Shareinvestors.com)
Once you start to look at 2nd & 3rd liner stocks, you will see that many stocks are off their high & quite a few are back to their February prices. This is borne out by FBM70 & FBMSCAP.
Chart 2: FBM70 & FBMSCAP as at Jun 15, 2017 (Source: Shareinvestors.com)
The same picture greets us when we look at FBMACE & FBMFLG!
Chart 3: FBMACE & FBMFLG as at Jun 15, 2017 (Source: Shareinvestors.com)
The "strength" of our FBMKLCI comes from one sector, Finance Services. Even here, the strength is concentrated on a few out-performers, such Maybank and CIMB while others are badly mauled in the past few weeks, such as AMBANK, RHBBANK & AFG. Trading Services, with big names like Tenaga & TM, are not contributing to the "strength" in our FBMKLCI.
Chart 4: Finance & TradServ as at Jun 15, 2017 (Source: Shareinvestors.com)
A market that's so narrow is not a healthy market. There is
No comments:
Post a Comment