Any development at Government House will move the market. (If there's violence), the index will likely head down to 700 quickly. |
Bank blue chips were hurt by the concerns that they may not meet target loan growth this year in this environment of political uncertainties and high oil prices. |
Domestic political uncertainties carried more weight in the session than positive cues from overnight gains on Wall Street. |
I expect in the short-term if there are solutions (to political uncertainty), the index will hit the 770-point mark. |
Many local investors are switching to small-cap stocks on lack of clear direction in blue chips, absence of fresh corporate news and political uncertainty. |
Technical signs are also not very positive after the index fell below the previous technical support of 735 Wednesday, which triggered continued selling. |
The political situation has come to a deadlock that not only hurts investors' confidence, but also is likely to hurt the economy by delaying government infrastructure projects and free trade talks. |