2007 Daily Volume 1.2B – Is This Guy Serious ?

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Nov 22 2006
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I read with great interest the comment by Bursa Malaysia CEO, Yusli today who expect the average daily trading volume for 2007 to hit 1.2 billion units – about 50% more than the current figure.

Is this guy serious with what he was talking about ? Or does he know something which the public doesn’t ? Seriously I’m not sure the foreign investors are here in big way. Foreigners are playing short-term – kinda hit & run. Based on the figure announced, that’ll translate into something similar to 1993 super bull-run. I might be pessimistic but past experience has taught me well.

Without foreign investors, the only players are retail against the market-maker. Maybe his intention is to instil confidence within retail players – which is good in a way. But after so many false starts, will the small retail investors be caught pants-down again ? Or could this be another trick from the ruling party to accumulate some monies for the coming General Election (come on, every Tom, Dick & Harry know about this strategy which was being used every-time pre-election).

Yusli further said the current upside momentum on Bursa is expected to continue into next year, with trading velocity likely to hit 40% against the estimated 30% this year on rising investor interest. “At the moment the market looks quite promising. Market is up about 15% year-to-date. We are certainly not over or gone too high if you were to compare with other markets. We have not gone too far in terms of valuation”.

“There will be more upside for the market dependent on companies continuing to do well and also investors’ confidence improving,” he said after a press conference on Bursa Swing golf tournament in Kuala Lumpur on Nov 22.

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Yusli: Average daily trading vol to hit 1.2b in 2007

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Yusli’s comments is definately based on self interest. If you don’t buy/sell, how does Bursa make money? He is definately counting on a big bonus at the end of the year. So you should expect him to give favourable comments to the market.

yes swifz, i agreed with you … he needs volume in order to justify his existence – either retails gain/lose, bursa will definately makes money …

hope the newcomers out there won’t get caught by his statement …

in fact i believe it’s time to “SELL” – for those who got caught earlier …

cheers …

OK guys
Apart from Yusli wanting to generate confidence in the market to meet his Key Performance Indicator to justify his 6m ESOS, I think there are some signs to point to the truth of what he ‘forecasts’.

1 The foreigners are coming, a trickle that might turn into a flood. Just look at the proposed 13% investment of RM1bn in AMMB, and prior to that Newbridge capital held talks with aMMB as well.

2 Nest year, the new bursatrade trading engine will allow for Direct Market Access that may well see the Bursa market experience the explosion in volume which comes with DMA. In fact this week (ended 24/11/2006), the new system is uup and running on Bursamalaysia Derivatives trading.

3 Other stuff such as the ocmeback of short selling of stocks, the Capital Markets Services legislation AND the way the KLCI is rocketing up with volume.




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