Qingming Festival - A Major Chinese Festival

Qingming Festival (or Ching Ming Festival) is a traditional Chinese festival falling on April 4 of the Gregorian calendar this year.

Also known as Grave Sweeping Day in English translation, Qingming's significance lies in the cultutral value of the filial piety that Chinese have been upholding for centuries. This attachment is so deep- rooted that Qingming has been traditionally regarded as a major festival.

On Qingming Day, young and old go to their ancestors' grave sites to pay tribute to them. This fine custom has been well preserved by Chinese throughout the world.

In Sibu, Qingming festival is fast taking over Chinese New Year as an occasion of reunion for families.

Some 15 years ago, my recollection tells me that the Sibuians who settled on outstation used to come back for family reunion on Chinese New Year.

But the scenario took a gradual turn about 10 years ago when Qingming fast caught up in significance as an occasion for family gathering.

Qingming has, therefore, been a festival for Sibu market to bustle with crowds.

Bursa Malaysia - Cautiously Optimistic In The Week Ahead

Last week's trading saw Bursa Malaysia bucking the trend. Against the gloomy market sentiment in the States, the local bourse advanced with an impressive gain.

The bullish sentiment last week was driven by window-dressing activities by the fund managers. This season-end dressing up provided a short- term impetus for the market.

With the curtain drawn, the heightened mood is predicted to subside. On top of that, the market shall witness no fresh leads in the coming week. As such, Bursa Malaysia is not expected to give surprises. Ahead of us shall be a week of correction to consolidate KLSE. Be prepared, therefore, for uncertainty-bound trading days in the week to come.

Although KLSE surged last week, the uptrend has been held to be unsustainable. Stay cautiously optimistic in your trading for a simple reason that Bursa is still risk-bound.

The external shocks and the internal uncertainty in political scenario shall swing our market with no mercy.

All the best in your trading.

"No" To A Public Apology To Tun Salleh Abas

Tun Dr. Mahathir gave an outright "no" to a public apology to Tun Salleh Abas in his response to a proposal by the newly appointed Minister in the Prime Minister's Department.

Reason? It's very simple. As Tun Dr. Mahathir pointed out in Sin Chew Daily today, he had done no wicked act during his 22-yrar tenure as Prime Minister of Malaysia.

Tun is as diplomatic as ever!

A Proposed Apology To Tun Salleh Abas

The newly appointed Minister in the Prime Minister's Department Senator Datuk Zaid Ibrahim made a proposal to the new cabinet to apologise to the victims of the 1988 judicial crisis, one of whom notably was Tun Salleh Abas.

I applaud loud to the open-minded approach by the new minister.

The judicial crisis and the subsequent constitutional amendments marred the Malaysian system of government and made us a laughing stock of the world.

Our system of government was based on the principle of separation of powers between judicial, executive and legislative branches on equal footing, with each exerting a check and balance against each other.

Following the infamous crisis in 1988, Tun Dr. Mahathir pushed through the parliament amendments to the constitution to effectively put the supremacy of the executive over and above that of the judicial branch. In one way or another, this distorted our principle of separation of powers.

Quoting the words of Tun Dr. Mahathir in 1988, " we seek to divest the courts of the judicial power of the Federation and give them only such judicial power as Parliament might grant them in justifying the amendments", the constitutional amendments had done tremendous damage to our judicial system in terms of its independence and power.

Public noise is getting louder to dig up the case.

The picture shows Datuk Zaid Ibrahim.

Teregganu's MB - A One-Man-Show Affair

Palace-appointed, but short of ADUN back-up, Ahmad Said reported to duty as MB of Teregganu yesterday. He is perfectly on a one-man-show, a scenario first time seen in Malaysia.

But for how long is he going to last?

Terengganu's MB Issue - A Challenge To Pak Lah

Terengganu's trauma is just one in a series of episodes in the aftermath of the recently concluded general election.

Gone was a big chunk of BN's base, leaving the ruling front wobbly in control of both states and parliament.

Eroded was Pak Lah's supremacy over the front as a result of the painful slice away of the ruling front's political grip.

From outright refusal to accept appointments as deputy ministers as a show of protests, rumour mongering all over on cross-over to the open defiance by Ahmad Said to PM's directive, the signs are more than enough to show that our PM's grip has been eroded.

You may call the episodes a stark reflection of the political reality. Prior to the political tsunami on March 8, it would have been a wild imagination to even let a slight idea to cross your mind on anybody in BN having guts to openly defy Pak Lah!

Bursa Malaysia - A Quiet Week Ahead

The Federal Reserve's slash on the rate to spur on the sinking economy provided a fresh lead for the stock markets in the States to leap by 2% on last Thursday. Temporarily, this stabilised the volatile external forces, giving the local bourse a sigh of relief.

Lack of fresh leads and continuing political uncertainty at the local front are expected to keep Bursa Malaysia on base-building phase and quiet trading.

Externally, the Reserve's rescue packages to shore up investor confidence are not expected to take effect in short term. The credit crunch is far from over, with the sources still rooted deep. In the immediate future, the American stocks shall hinge on the potential losses to be sustained in the financial market.

In Asian region, the stocks are expected to tag closely behind that of the United States. But the victory of Ma Ying-jeou in the just concluded presidential election in Taiwan is expected to spur the region's bourses to a fervent run. Ma's open-minded approach to mainland China is predicted to cool off the tense cross-straits relations under President Chen Shui-bian. Regionally speaking, the Ma's syndrome is definitely positive.

The mixed external factors, coupled with the wobbly local political scene have put off funds on wait-and-see. As such, the volume in this week is expected to stay thin in quiet trading.

If you are in the market, you have my best wishes!