Friday, October 23, 2009

Market with Budget

Today, Najib (PM of Malaysia) announced budget 2010. He had proposed increased personal relief 1000 to 9,000. Reduce income tax for personal 1% to 26%.

He had gave everybody a angpow. But you must have earning power only can enjoy it. Those money save would not direct inject into share market. But long term give people have more spending power. Furthermore, he also give a personal tax 15% to whom is working at Iskandar Economic Zone.

Some stock/ company can use it to attract some skill people interested working at there. Recently, I have face some problem on my career. Above incentive I have to say I may not enjoy it.

Refer to market today performance, some people hate Axiata in the 2 years time call for 2 times right issue. It was shown steel money with unlimited before give you any confident or any benefit. Market price reflected negative indicate people hate it.

Next week, adjustment will fast and heavy. Hope I am wrong.

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