Wow, PCHEM's charm is irresistable! It took 41% of KLSE total volume today, at 0.64 billions. What a fat water for broker firms! Just too bad that the index is retraced today, and PCHEM is selling all the way from RM5.71 to RM5.30 and closed at RM5.31. Not as impressive as MHB but same fate as MAXIS. That's the problem for large IPO in this country. The number of retail traders are not mature and the price is not cheap. The local market is not overwhelm by foreign investors but they are in the neighbor countries. In addition, the key fund managers already in during the IPO. So who else left to push up the price? Nonetheless, PCHEM debut is definitely a good news for KLSE. Welcome!
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