Market News - 02 Dec 2009

Wall St rose 1.2%, on easing concern over default of Dubai World, which is seeking to restructure a smaller sum of USD26bln, and US pending home sales rose 3.7% in Oct, for the 9^th month. However, auto sales were down sharply, 10-15%, in November from Oct, although year on year, the sales stabilised. Dollar is slightly down.Commodities recover.

• Dow is at 10,471, and heading to 10,723.
• Dollar is at 86.9 yen. Support is at 84.0
• Euro/dollar is higher at 1.509. Longer term upside is at 1.53
• Crude oil is higher at USD78, still targeting 84.
• Gold is higher at USD1198, heading to 1210, then 1237.
• Ringgit is slightly firmer at 3.38. With support at 3.45, it is likely to gain ahead of October exports this Friday, expected to be down 10.3% yoy, the smallest drop in 11 months. Long term upside of 3.34.
• S’pore ringgit is slightly soft at 2.446. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed higher at 1266. With support at 1256, it is targeting 1278, and 1291.
• CPO Jan futures is higher at RM2472, with support at RM2395. Upside is at RM2600.
• Today’s trading range is between 1262 and 1274.

 

Market News - 01 Dec 2009

Wall St rose 0.3%, on easing concern over default of Dubai World, following the assurance of the central bank of U.A.E to support local banks. Focus is on shoppers that continue to throng, signaling that the traditional Black Friday is here to stay, bringing cheers to retailers. Early report revealed 195 mln shoppers, versus 172 mln shoppers last year, between Thanksgiving and Sunday. Chicago PMI, a measure of regional manufacturing activity, rose to 56.1 in November from 54.2 in Oct. Dollar is slightly down. Commodities recover.

 

• Dow is at 10,344. Support is at 10,171. Resistances at 10,723, 11,000
• Dollar is drifting downwards to 86.0 yen. Support is at 84.0
• Euro/dollar is higher at 1.505. Longer term upside is at 1.53
• Crude oil is higher at USD77.
• Gold is higher at USD1181.With support at 1148, upside is at 1311.
• Ringgit is slightly weaker at 3.39. With support at 3.45, it is likely to gain ahead of October exports this Friday, expected to be down 10.3% yoy, the smallest drop in 11 months. Long termupside of 3.34.
• S’pore ringgit is firmer at 2.45. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed lower at 1259. With support at 1256, it is targeting 1278, and 1288.
• CPO Dec futures is RM2455, with support at RM2335. Upside remains at RM2500.
• Today’s trading range is between 1256 and 1268.

 

FW: Market News - 30 Nov 2009

Wall St down 1.5%, reacting to the news of debt rescheduling of some USD60bln owed by Dubai World and Nakheel. Concern over Dubai threat to US banks was mitigated by the cheer that the first day after Thanksgiving was greeted by shoppers that came in droves. Dollar gained slightly. Commodities eased on profit taking.

 

• Dow is at 10,309. Support is at 10,171. Resistances at 10,723, 11,000
• Dollar is drifting downwards to 86.8 yen. Support is at 86.3
• Euro/dollar is lower at 1.498. Longer term upside is at 1.53
• Crude oil is lower at USD76.
• Gold eased to USD1176 from USD1200, on technical correction. Strong resistance is at the USD1201-1209 region.
• Ringgit is slightly firmer at 3.38. With support at 3.45, it is on a long term upside of 3.34.
• S’pore ringgit is firmer at 2.448. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed lower at 1270. With strong support at 1262, it is targeting yearend 1292, and 1300.
• CPO Dec futures is RM2455, with support at RM2335. Upside remains at RM2500.
• Today’s trading range is between 1266 and 1274.

 

2010 Stock Market Outlook KL - 06 Dec 2009

CIMB are pleased to announce that there will be a public seminar on 2010 Stock Market Outlook organised by Market Wizard Enterprise, supported by CIMB Investment Bank Berhad exclusively to alli*Trade@CIMB customers.

 

This seminar will be conducted in Mandarin by two reputable speakers. The profiles of the speakers are as follows:

 

·  Mr. Raphael Kok, founder of Market Wizards Enterprise, renowned Stock Columnist and popular speaker.

 

·  Mr. Justin Law, futures trader and commissioned futures broker representative and stock columnist.

 

Seminar details:

 

Date	6th Dec 2009 (Sunday)
Time	9.00 am – 11.30 am (Registration starts at 8.30am)
Venue	Kristal Ballroom 1 Hilton Hotel Petaling Jaya

 

Don’t miss this seminar to learn more about the investment opportunities in the current market trend.

 

For registration, please contact us at 03-2092 2516 or 012-317 8834 not later than 1^st Dec 2009 (Tuesday). Registration and FREE SEATS are on a first-come-first-serve basis.

 

Visit www.MarketWizardsEnt.com to find out more about the seminar.

 

Market News - 26 Nov 2009

Wall St up 0.3%, on a plethora of good figures. With the exception of Oct. durable goods down 0.6%,  weekly jobless claims had a bigger than expected drop to 466,000; new home sales rose to 430,000 annual units   in Oct; and personal income up 0.25, with personal spending on a surprise rise to 0.7% in Oct . Dollar continues to weaken. Commodities up. Markets will be closed for Thanksgiving on Thursday, and a shortened Friday trading. On the local market, Friday is also a holiday.

 

• Dow is at 10,464. Support is at 10,171. Resistances at 10,723, 11,000
• Dollar is drifting downwards to 88.1 yen. It should not breach the 88.01 low, which will pull it down to 87.0, and 86.4 yen
• Euro/dollar is higher at 1.51. Longer term upside is at 1.53
• Crude oil is higher at USD78.
• Gold has hit the USD1188 target.
• Ringgit is slightly firmer at 3.37. With support at 3.45, it is on a long term upside of 3.34.
• S’pore ringgit is firmer at 2.442. With a pullback support at 2.42, the long term upside is at 2.52.
• Malaysia market closed higher at 1272. With strong support at 1268, it is targeting yearend 1292, and 1300.
• CPO Dec futures is RM2455, with support at RM2335. Upside remains at RM2500.
• Today’s trading range is between 1268 and 1274.