1Q GDP -6.2%

Kaw-kaw now, minus 6.2% and expected similar % in 2Q.

Find more and spend more to help the economy, can we?

GDP 1Q 2009?

1st Quarter of 2009 just ended. Can't wait for the official figure...... but at least next month only will release. Defibitely is -ve this time if you follow the biz news for past 3 month!

So keep your bullets till May/June for next cheap bargain at KLSE!

Mini Budget - My comments

The mini budget seem like target more to middle class and above.

If you were poor, can you own the car? And if you happened to own a car, will you wanna scrap the car and again "vomit" out extra money for monthly installment? This is more to help the Proton and Perodua. If you have money, you will rather spend on daily needs.

For house buyer who sign S & P after 10 March 2009 will get tax deduction on the interest paid to bank up to RM10k for 3 years. Again, this is meant for middle class rakyat and above. To eligible for tax, your salary must be around RM2,500 a mth and above. If you were the poor, you don't even dream of the house as you cant afford, anyway you do not need to pay the tax with monthly salary below RM2,5000! Again, this measure is to help the developers!

And for other infrastructure development, by the time it's starts (after going through tender process, procurement, etc) and finish, the hardest period (suffer by rakyat) has been gone.

There is no direct benefit to the people in this mini budget in my opinion. But i am not accountant or economist, i might be wrong.

RM60b mini budget

details can be read from The Star.

Government will implement a Stimulus Package totalling RM60 billion. The package will be implemented over two years, 2009 and 2010. Of this amount, RM15 billion is fiscal injection, RM25 billion Guarantee Funds, RM10 billion equity investments, RM7 billion private finance initiative (PFI) and off-budget projects, as well as RM3 billion in tax incentives. This RM60 billion accounts for almost 9% of the GDP. The implementation of such a large stimulus package is unprecedented in the nation’s economic history.

PROTON End Talks

UPDATES at 5.10pm:
Closing price RM4.02, drop 92c, almost 18.6%.

UPDATES:
By 3.06pm, Proton stock drop more than 92c and at one point drop to 96c.

Quote from NST:

"....the government decided to end the negotiations after studying recent positive developments in the car company."...

Consumer confidence in Proton cars has also improved, following stricter quality control. A poll showed that Proton's Consumer Satisfaction Index had risen to 713 points from 677 points last year.


Government said consumer confidence improved, but seem like the stock of PROTON not reflect that. Investors are "throwing" the shares. Refer the Figure. Should PROTON partner with foreign carmaker? I think in long term, Yes.

More news at The Star.

Feeling Good Factor, again

Whenever PM or DPM claimed our economy is good, sure the next few day share market turn Bear. CI is not represent the overall picture anyway, in my opinion, for example yesterday market, Losers led gainers by 606 to 320 while 264 counters were unchanged, 190 untraded and 33 suspended even though CI up 7.35 points. And today, market is red. I think they should just do their works and let the economists to comment.

Maybe the general election is near, therefore a lot of this non-economist leaders claim that...especially by-election is near again for IJOK, Selangor.

1,300 points

Feel Good Factor continue...... Composite Index hit 1,300 points at 3.27 pm today!!!

Real good feeling for Machap by-election......

CI cannot secure 1100 mark

At around 2.44pm, Composite Index lost the 1100 marks!!! Too bad....... Great Bear is eating up everybody.... only 9 stocks gain .....

Updated 2.56pm:
only 6 gainers, 1119 losers, 29 unchanged, CI now 1090.82, drop 73.86 points.

Updated 5.09pm:
42 gainers, 1110 losers, 42 unchanged, CI drop 53.99, closes at 1110.69 points, 4.64% drop!!!

BIG BEAR!!!

Everywhere also get Cold due to the sneezes by China and Jeffooi had this story!!!

From Kwongwah:
大马和全球股市愁云密布，世界各地市场兵败如山倒，盘价全线大崩跌，尤其是本地股市的综指今早一度猛泻逾百点，因原本已脆弱不堪的市场进一步受到周二美股急挫逾400点的大打击。

From Sinchew:
油價下跌，加上中國上海股市週二猛瀉9%，投資者擔心中美市場降溫及股票價格過高，觸發全球股市大跌。馬股綜合指數週三早開市不久一度狂瀉逾100點，中午休市時大跌74點至1163。

From TheStar:
Malaysia's key stock index plunged 6 percent at midday Wednesday, its biggest single session drop in nine years, as foreign funds cashed out amid jitters over a slowdown in China and Wall Street's drop overnight.

Sinchew even has the special report column on stock market.

Dow Jones - Also Big Bear

Even Dow Jones also affected by China?? It closed 416.02 points lower yesterday!!! Becareful today!!!

Update 10am:
KLSE today drop almost 100 points in 10 min trading!!!

All markets in Asia turn Red today!! Check it out here at Bloomberg

Bear Day

Wow!! today stock market drop 35.79 points (lowest 1220.19 points, drop almost 53 points) with only 42 Gainers, 60 unchanged and 1123 losers. Volume traded at 36993464 lots with the value of RM 4,293,430,986. All red, blood flowing here and there, everywhere.......

Oh Thai Baht

This is why yesterday the stock market drop almost 21 points to 1060.36.

Rich & Poor

study = richest

working and single = rich

working and marry = poor

working, marry + kid = poorer

What do you think???

CI 1100 Points

wow, CI up too fast. But only Blue Chips. Sian....

新的不来，旧的不去

人人都说，旧的不去, 新的不来。 我偏偏说，新的不来，旧的不去。 除非弄丢了，不然那会去买新的。但是，如果是换新的，那就是新的不来，旧的不去。追根究底，钱就是万恶之源, 人为财死，鸟为食亡。如果钱不是问题，旧的不去先或新的不来先都不重要了。

终于买了我的新鞋，RM50吧了 (South City 购买)。

KLSE Noon Closing

It is getting higer, but only to Blue Chip. What the heck!!! The Composite Index is more than 1000 points, but majority of the shares seem like still at ~ 700 points. A lot of stocks less than RM 0.10, so terrible......

On BioDiesel derive from Palm Oil, check it out here.

Quote:

Plantation companies looking to tap into the biodiesel demand in the European Union (EU) could face a setback if the EU parliament’s industry committee’s call for a ban on palm oil-based biodiesel is passed.

1000 POINTS

Finally it hit 1000 points!!

990 Points

For the 1st time after some years, Malaysia CI hits 990 points at 2.40 pm (the time i noticed it). Is it the time Bull has visit the market? Wait and see.....

BLR increase to 6.75%

Oh, BLR increase again, Mayban announced today Effectively 28 April 2006, BLR is 6.75%. Burden increase again...

ASM Unit Trust - 1 Billion units

A RM1bil Amanah Saham Malaysia unit trust will be available for sale to all Malaysians from Monday, Prime Minister Datuk Seri Abdullah Ahmad Badawi said Thursday.


ok, time to grab the unit if you wish to place your money there, it is always a hot cake especially only a limited allocation of units for non-bumi. FYI, the interest is MUCH MUCH higher compared to FD. Last year they gave 7% ++, i cannot remember the actual %....

UPDATE:

The RM1bil Amanah Saham Malaysia (ASM) shares opened to all Malaysians sold like hot pisang goreng when it was put up for sale from 10am yesterday. They were all was snapped up in a record time of one hour and 45 minutes.