Thursday 28 Mar 2024
By
main news image

tong_masthead_theedgemarkets

Asian shares ended higher on Thursday as investors awaited details of the European Central Bank (ECB)’s widely anticipated quantitative easing (QE) scheme. Regional stock markets have rallied on expectations of further aggressive QE measures since Switzerland de-pegged the Swiss franc from the euro last week.

Elsewhere, the S&P 500 and Dow Jones Industrial Average indices added 0.47% and 0.22%, respectively, on Wednesday.

Crude oil prices appear to have found some stability, but remained capped below US$50 per barrel. Brent crude and WTI crude dipped 0.37% and 0.86% to US$48.85 and US$47.37 per barrel, respectively. 

On the home front, the FBM KLCI index gained 11.6 points or 0.66% to 1,781.75. Market breath was positive with gainers outperforming losers 2.62 to 1.

I sold the last remaining stock in my momentum portfolio today. My 9,000 shares of Willowglen MSC Bhd were sold at RM0.815 per share, yielding me a 3.3% return over my cost of RM0.789.

The portfolio started on 8 July 2014 with a capital of RM100,000. It has outperformed the FBM KLCI by 8.2%, registering an annualised return of 3.1%. Total profits currently stand at RM1,704.90.

My portfolio is now 100% in cash. The reason for my disposal of Willowglen has nothing to do with my assessment of the company’s underlying fundamentals, which remain robust, but rather due to new interesting developments to my portfolio. Do watch this space!

tong_23Jan2015_theedgemarkets

This article first appeared in The Edge Financial Daily, on January 23, 2015.

 

      Print
      Text Size
      Share