Opening Quotes-Are They Reliable?

Will Fortune Smile?

Are you influenced by opening quotes on the Bursa KL?

Are they for real?

Are those lining up their bids bonafide?

Fair Representation?

My observation.

Punters, mostly...

A majority will be day traders if the counters have liquidity and known to be well traded.

Yes, and desperate buyers who need to sell out as well as opportunistic bargainers pawing down the price.

Let us look at today's prices for BJF, BAT,YTL and Digi.

All started at below overnight prices.

Slowly, the price rises to overnight levels.

For those with substantial volume, prices might just perk up as the day moves on.

BAT, Digi and YTL has moved to better prices and some have gained.

BJF has only 18% free-float and so the reason for the yawning gap in the bids.

Looks like there are more sellers than buyers here.