Shanghai Market “BOLEH”. After plunging about 8% to low of 3,174 on 30/7, it has recovered miraculously to close at new high for the year at 3,463 today. All the Asian markets ended in the positive territory today except for KL, Japan and Taiwan.
Incidentally, it is a historical day for KL market today as it merges Main and Second board into a single board. The other milestone taking place today is the changing of “Bid” system where every incremental bid has been changed to one cent for counter between RM1 to RM10 and two cent for counter above RM10.
On the general performance of the local market, KL has found a new leader today in the form of Hexza which is involved in chemical, resins and adhesive business. The counter put on a hefty 19 cents or 40% today to close at 66 cent.
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