Friday 29 Mar 2024
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REGIONAL markets closed mostly in the red Tuesday, as leading indexes tracked the relentless fall in oil prices, which have yet to find a bottom. The rout continued with the Brent and WTI crude now trading at $59.31 and $54.32, respectively, driving down energy shares worldwide.  In addition, factory data from China, France and Germany missed estimates, further adding to the financial market’s woes.

The picture on the home front was not so different as the local bourse mirrored global sentiment. Market breadth was negative with losers outpacing gainers 1.9 to 1. Investors remained on the sidelines with no fresh leads on how to tackle the weakening ringgit and falling oil revenue.

My decision to sell off most of my stocks is looking to be a good one. I foresee further weakness in the market and will hold my position for now.

My portfolio returns gained by 0.2% to RM 219.90.

The portfolio started on 8 July 2014 with a capital of RM100,000. Since then, it has outperformed the FBM KLCI by 11.8%, and has registered an annualised return of 0.5%.

Total profits currently stand at RM 219.90.

I am currently only holding Willowglen, which closed at 65 sen yesterday.

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This article first appeared in The Edge Financial Daily, on December 17, 2014.

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