Well, well, well.....The elusive 2008 January Effect, which has avoided the U.S. markets this year, thus far, has finally been located! And surprise, surprise, it's all good 'ol Kuala Lumpur! Hard to believe, but that's the scenario now. For while the US stockmarkets have been swooning, Bursa Malaysia has been going gangbusters (perhaps they forgot it's not 1999, eh?). Plantation stocks seem to be in vogue, with the charge being led by the "4 Horsemen" (I couldn't help but mimick what they've been saying about the NASDAQ leaders) of Sime Darby, KLK, IOI, and Kulim. This is not surprising, since Palm Oil is Malaysia's main agricultural income earner. With Crude Palm oil hovering around all time highs of RM3100, we look forward to more good times for the seemingly defensive and laggard Malaysian economy. The Malaysian market is notorious for giving "false hopes" to retailers, so we'll hope for the best in 2008 and welcome the Chinese Year of the Rat. Bottoms Up!
Chief Shook
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