Mr Market is upset recently due to oil prices are kept on dropping to below $55. Latest announcement made by OPEC that they would not cut the production even the oil prices drop to $40. As a result, the oil prices plummet and upset the world stock market.
KLSE has dropped ~12% from the historical high of 1895 to 1673 and likely continue to drop until the oil price is stabilised and panic is over. But the sellout will be limited as 70+% of market is held by local institutions funds.
With the oil is continue to heading south, utilities sector will be benefit the most.
Most of my stocks holding have dropped to 52 weeks low and in bargain zone.
It is good that Mr Market is on Christmas Sale now! Time to shop for bargain value stocks!
This week bough another 200 units of AEON at RM2.75 with total accumulated of 2500 units.