Market News - 29 May 2009

U.S. and European Market Roundup

• The DJIA up 103.78 points to 8,300.02 points.
• U.S stocks rallied, led by banking and energy shares as a rebound in 10-year Treasuries eased concern record government debt sales will trigger higher borrowing costs and oil climbed to a six-month high.
• Over in Europe, stocks retreated for the first time this week, led by financials such as Deutsche Bank and AXA with scant corporate news to give direction and U.S data sending mixed signals on economic recovery prospects.

Macro and Corporate New

• Budget carrier AirAsia is back in the black with a net profit of RM203.2 mln in the first quarter of 2009 after posting two consecutive quarterly losses previously.
• TDM, a plantation group controlled by the Terengganu state government, expects its pretax profit to drop 69% this year due to a lower palm oil price, following a record 2008.

FKLI Technical Analysis - 28 May 2009

FKLI traded lower today after announcement on Malaysia GDP contraction of 6.2%. Even it has been revised to contraction of 4%-5% in the afternoon, it doesn't bring much positive impact as trader continue taking profit from yesterday hike.

FKLI closed 11.5 points lower @ 1038.5 with Bollinger Band width continue contraction and candle nearer to middle BB band. Both MACD & RSI continue heading south.

Resistance @ 1044.5, 1055.5, 1059.5 while support @ 1033.5, 1025, 991.

HAPPY TRADING

FKLI 28 May 2009 - Morning TA

Data captured on 28 May 2009 0924

Moving Average

MA(3) = 1046

MA(12) = 1048

MA(69) = 1038

Bollinger Band

Upper = 1054

Middle = 1048

Lower = 1042.5

Width = Expanding with candle below middle BB

Market News - 28 May 2009

U.S. and European Market Roundup 

• The DJIA down 173.47 points to 8,300.02 points.
• U.S stocks dropped as rising yields on U.S government debt fueled concern that businesses and consumers could face higher borrowing costs, which could hamper an economic recovery.
• Over in Europe, equities finished higher for a third straight session on Wednesday, boosted by financial and retail shares on hopes the market has seen its worst for the year and is on track for a recovery.

 

Macro and Corporate New

• The economy contracted by 6.2% in the 1Q from the same period a year ago as a significant deterioration in external demand dragged the key manufacturing sector significantly lower.
• Resorts World’s net profit for the 1Q09 ended March 31 fell 7% to RM275.44 mln from RM297.36 mln a year earlier, mainly due to further impairment of its investment in Star Cruises Ltd of RM30 mln.

Market News - 27 May 2009

U.S. and European Market Roundup 

• The DJIA up 196.17 points to 8,277.32 points.
• U.S stocks jumped, sending benchmark indexes higher for the first time in five sessions as the biggest gain in consumer confidence since 2003 spurred optimism the worst of the recession is over, while two-year Treasury notes were little changed after a record-tying US$40 bln auction.
• Over in Europe, shares closed higher though economic data was not as encouraging as that of the United States.

Macro and Corporate New

• IJM Corp’s net profit for the 4Q ended March 31 fell to RM53.34 mln from RM116.47 mln a year ago, while revenue of RM1.18 bln was a decline of 10.2% y.o.y. mainly due to the recent decline in the prices of CPO and palm kernel oil (PKO) as well as a slowdown in property sales.
• Eastern & Oriental posted net loss of RM44.61 mln in the 4Q ended March 31, a contrast from the net profit of RM9.27 mln a year ago, mainly due to loss of RM19.9 mln on disposal of an associate and provision for impairment loss on investments of RM10.2 mln.
• Sunway Holdings's 75.1% sub-subsidiary, Sunway Engineering Sdn Bhd (Abu Dhabi branch) has secured a RM326 mln subcontract from Silver Coast-Sunway Innovpave joint venture for proposed the Arzanah Development – Rihan Heights (Phase 1A – Plot H).

FKLI 26 May 2009 - Morning TA

Data captured on 26 May 2009 - 0838

Moving Average Bollinger Band

MA(3) = 1044 Upper = 1054.5

MA(12) = 1048 Middle = 1048

MA(100) = 1026 Lower = 1042.5

Width = Contracting

FKLI Technical Analysis - 26 May 2009

FKLI traded lower after profit taking from the gain on 25 May 2009. FKLI closed 7.5 points lower @ 1042 with higher volume traded.

Bollinger Band width remain consistent with candle above middle BB. MACD failed to form a golden cross and begin moving south while RSI moving away from overbought zone.

Support @ 1018 while resistance @ 1063.

HAPPY TRADING!

Equities Investment & Market Outlook Seminar (Penang)

CIMB are pleased to announce that there will be a FREE seminar entitled Equities Investment & Market Outlook organised by ChartNexus Pte Ltd and supported by CIMB Investment Bank Berhad in Penang.

 

In this seminar, Mr William from ChartNexus will share his view on the local market outlook. Mr William has an extensive analytical skill and writes regularly on the regional market outlook. He is a core member of the ChartNexus Team of Trainers in Malaysia and has trained thousands of investors in his training sessions.

 

Seminar Details:

 

Date	31st May 2009 (Sunday)
Time	9.30am –12.30pm
Venue	Function Hall 1 Gurney Hotel, Penang

 

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

 

Please register at http://www.chartnexus.com/events/details.php?eid=2519 by 28^th May 2009 (Thursday).

 

Registration is on a first-come-first-serve basis.

Market News 26 May 2009

U.S. and European Market Roundup 

• The US markets were closed for the Memorial Day.
• European shares rose on Monday with Sanofi Aventis leading pharmaceuticals higher after winning a U.S contract and some analysts choosing to interpret a leading German economic survey positively.

 

 

Macro and Corporate New

• Sime Darby's net profit and revenue fell in the third quarter ended March 2009 on weaker plantation operations, prompting company officials to warn that full-year results may not be as good as in 2008. Net profit during the quarter dropped 87% to RM165.7 mln, while revenue fell to RM7.5 bln from RM8.6 bln previously.
• Tenaga Nasional (TNB) plans to hire Korea Electric Power Corp (Kepco) to help it do a preliminary feasibility study on what would be Malaysia's first nuclear plant.

FKLI Technical Analysis - 25 May 2009

FKLI traded higher yesterday closed 1.5 points higher @ 1050.50.

Bollinger band width begin to expand with candle above middle BB indicating further bullish ahead. However it might have some pull back & profit taking due to more and more company quarterly results release this week.

MACD nearly forming golden cross with RSI @ 66.3 nearer to overbought zone.

Resistance @ upper BB 1061, support @ middle BB 1015.

Market News - 25 May 2009

U.S. and European Market Roundup 

• The DJIA down 14.81 points to 8,277.32 points.
• U.S stocks fell for a fourth day on Friday on persistent worries about the U.S budget deficit, with U.S Treasuries and the Dollar losing ground.
• European shares ended lower for the second day in a row on Friday, further cooling a rally that has added a third to stock prices in the past ten weeks, as defensives and Swiss stocks weighed.

 

 

Macro and Corporate New

• Green Packet, a company that develops telecommunication solutions and offers wireless broadband services, said its first-quarter net loss widened more than sevenfold despite higher revenue, due to the cost of rolling out its wireless broadband services.
• Malaysia second largest banking group Bumiputra-Commerce Holdings said it may review its targets for this year if capital markets continue to improve.
• Tanjung Offshore has diversifed its range of support vessel services and moved up the value chain for its engineering equipment business, according to Managing Director Omar Khalid.

FKLI Technical Analysis - 22 May 2009

DJ falled 129.91 points on Thurs night doesn't really affect FKLI much during opening as better news is coming out from Malaysia PM's visit to Singapore.

FKLI traded higher with 10,692 lots transacted and closed 19 points higher @ 1048.

Bollinger Band width begin to expand with candle riding above middle BB band indicating bullish trend ahead with upper BB and middle BB become to resistance & support respectively.MACD bullish & nearly forming a golden cross, RSI @ 65.8 in neutral zone but getting nearer to overbought zone.

** US consumer confidence will be released on 26 May & New Home Sales will be released on 28 May. 

Upper BB = 1056

Middle BB = 1012

Lower BB =  968

FKLI 22 May 2009 - Noon TA

Data captured on 22 May 2009 1251

Moving Average

MA(3) = 1035.5

MA(12) = 1033

MA(100) = 1022

Bollinger Band

Upper = 1043.5

Middle = 1035.5

Lower = 1028

Width = contracting

FKLI 22 May 2009 - Morning TA

Data captured on 22 May 2009 0957

Moving Average

MA(3) = 1035

MA(12) = 1033.5

MA(100) =1022

Bollinger Band

Upper =1044

Middle = 1036

Lower =  1028

Market News - 22 May 2009

U.S. and European Market Roundup 

• The DJIA down 129.91 points to 8,292.13 points.
• Another bad signal from the job market and concern over a possible downgrade of British government debt sent U.S stocks sharply lower Thursday.
• Over in Europe, shares dropped on Thursday, weighed by banks, commodities and a ratings agency cut in the UK's economic outlook, while signs of further U.S job weakness and a disappointing Fed survey added to the gloom.

 

 

Macro and Corporate New

• Telekom Malaysia (TM) posted a net profit of RM27.7 mln for the 1Q ended March 31, down 75.8% from RM114.4 mln in the previous corresponding period, mainly due to higher unrealised exchange loss on foreign currency borrowings of RM175.5 mln compared with a gain of RM118.8 mln previously.
• YTL Corp’s 3Q net profit more than doubled, helped by its cement business and additional contributions from one of its recent acquisitions.

FKLI 21 May 2009 - Morning TA

Data captured on 21 May 2009 0938

MA(3) = 1041

MA(12) = 1035

MA(100) = 1020

Bollinger Band

Upper = 1046

Middle = 1030

Lower = 1014

Seminar in Penang - Equities & Futures (Mandarin)

CIMB are pleased to announce that there will be a FREE seminar in Mandarin entitled Equities & Futures Seminar organised by Grandpine Capital Sdn Bhd and supported by CIMB Investment Bank Berhad in Penang.

 

In this seminar, Mr Winson Hoo and Mr Chen J.S. from Grandpine Capital will share their views on Market Outlook, Malaysian Futures Market and Equities Market.

 

The speaker in this seminar, Mr Winson Hoo, is the Vice-President of Knowledge Investment Community in Malaysia. He is currently the chief instructor of Grandpine Capital and has conducted more than 200 investment talks and classes in Malaysia.

 

Seminar Details:

 

Date	23rd May 2009 (Saturday)
Time	2.00 pm – 6.00pm
Venue	Wawasan Open University Theatre 2 54 Jalan Sultan Ahmad Shah 10050 Penang

 

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

 

For registration, please call 03-7727 0671. Registration is on a first-come-first-serve basis by 22^nd May 2009 (Friday).

FKLI 20 May 2009 - Noon TA

Data captured on 20 May 2009 1354

MA(3)= 1034

MA(12)= 1028

MA(100)= 1018

Bollinger Band

Upper = 1043.5

Middle = 1019

Lower = 994.5

FKLI 20 May 2009 - Morning TA

Data captured with 60min FKLI charts @ 0903 20 May 2009

MA(3) = 1025

MA(12)= 1021.5

MA(100)= 1017.5

BB

Upper= 1036.5

Middle= 1013

Lower= 989.5

FKLI Technical Analysis - 18 May 2009

The fear of swine flu spread within Malaysia plus DJ red last week caused market open low but rebound in during afternoon session. FKLI closed 6.5 points lower @ 1003.5.

Bollinger Band begin to contract with support @ middle BB 999.5 while resistance @ upper BB 1044. MACD remain heading south while RSI in neutral zone.

FKLI 60min charts having resistance @ MA(100) 1016 while support @ 1006 & 1003.5.

HAPPY TRADING!

Market News - 19 May 2009

U.S. and European Market Roundup 

• The DJIA up 235.44 points to 8,504.08 points.
• Reassuring news about housing and banking on Monday convinced investors to return to the stock market, helping the S&P’s 500 Index recover more than half of last week’s loss and the Dow shot up 235 points.
• Over in Europe, equities closed higher on Monday as financial stocks climbed on hopes a recession in top global economies was abating, while energy shares tracked higher crude oil prices.

Macro and Corporate New

• New vehicle sales in Malaysia for April 2009 contracted by a larger annual quantum of 18.2% to 41,135 vehicles, due to the unexpected increase in hire purchase loan interest rates for the purchase of foreign vehicle brands in the country.
• Ahmad Zaki Resources (AZRB) yesterday accepted a RM185.63 mn project in Saudi Arabia to build reinforced concrete structures for Tower H1-A at the Jabal Omar Development in Mecca.
• United Plantations has posted a net profit of RM55.8 mln for its 1Q09 ended March 31, down by 19% from RM69 mln in the previous corresponding period.

Market News - 18 May 2009

U.S. and European Market Roundup 

• The DJIA down 62.68 points to 8,268.64 points.
• U.S stocks fell, extending the worst weekly loss for the S&P’s 500 Index since March as Federal Deposit Insurance Corp Chairman Sheila Bair predicted the heads of some banks may be replaced and a drop in oil dragged down energy shares.
• Elsewhere, European shares closed higher on Friday with gains for banks, including Barclays, outweighing losses for defensives such as telecoms.

 

Macro and Corporate New

• Affin Holdings posted net profit of RM91.58 mln in its first quarter ended March 31, which marginally lower than the RM92.39 mln a year ago.
• IOI Corp net profit for the 3Q09 ended March 31 fell sharply to RM37.36 mln from RM601.64 mln a year ago mainly due to unrealised translation loss on USD denominated borrowings and lower earnings from its plantation division.

FKLI Technical Analysis - 15 May 2009

FKLI traded tide range today closed 7 points higher @ 1010 with total volume of 6839 lots transacted.

Bollinger Band width continue to contract with candle above nearer to middle BB band. MACD continue heading south with RSI in netral zone.

First detected swine flu news cames out today will bring some impact to the market place. Over the weekend depends on DJ closing as well as further news on Malaysia swine flu will impact the market movement next week.

Resistance @ 1045 while support @ 997.

HAPPY TRADING!!

Market News - 15 May 2009

U.S. and European Market Roundup 

• The DJIA up 46.43 points to 8,331.32 points.
• U.S stocks advanced, snapping a three-day losing streak for the S&P’s 500 Index as traders bought beaten-down financial and technology stocks on bets the recent rally could have more room to grow after a brief pullback.
• Over in Europe, stocks climbed for the first time in four days as gains for several banking heavyweights more than offset energy stocks dropping on weaker crude prices.

 

 

Macro and Corporate New

• Bumiputra-Commerce Holdings (BCHB) group’s revenue for the 1QFY09 rose to RM2.51 bln from RM2.02 bln and net profit grew by 14.8% to RM614 mln, or EPS of 17.2 sen.

FKLI Technical Analysis - 14 May 2009

FKLI open gap down and continously traded low ended 8 points @ 1003 with total volume of 7850 lots transacted. 

The sell off was triggered by worse than expected US retail sales numbers. The US Commerce Department reported a 0.4% drop in April retail sales while the fall in March was revised to 1.3%. The weaker than expected figures threw a wrench into expectations that a revival in consumer spending will lead the US out of its current downturn. A recovery in consumer consumption, which accounts for 70% of the economy, in 1Q09 had earlier buoyed hopes for a quick recovery for the world's largest economy.

Bollinger Band width sligthly contracted with candle getting nearer to middle BB. MACD begin moving south and RSI in neutral zone.

Immediate support @ 994.5 while resistance @ 1045.5.

HAPPY TRADING!!

Market News - 14 May 2009

U.S. and European Market Roundup

• The DJIA down 184.22 points to 8,284.89 points.
• Stocks retreated more than 2.0% on Wednesday and bond prices rose after two reports suggested the economy is not bouncing back as quickly as investors hoped.
• Over in Europe, shares fell for the third straight session, pulled down mainly by financials and miners while defensive sectors such as food and pharma eked out gains.

Macro and Corporate New

• Scomi Engineering registered an improved pretax profit of RM19.9 mln for the first quarter ended March 31 compared to RM10.6 mln posted in the same quarter of 2008.
• Mudajaya Group yesterday reported higher revenue and profit, which it attributed to an increase in business activity and profit margin. 
• Tanjung Offshore (TGOFF) has taken delivery of its 11th offshore support vessel, the MV Tanjung Gelang, which has received a letter of award (LoA) from Carigali-PTTEPI Operating Company Sdn Bhd (CPOC)  for total charter rates of RM30 mln.

FKLI Technical Analysis - 13 May 2009

FKLI traded lower closed 4.5 points lower @ 1021 with lower volume @ 6958 lots transacted. A doji has been formed again indicating indecision between buyers and sellers.

Bollinger band width remain consistent with candle above middle BB. MACD about to form "dead cross" and RSI remain in neutral zone.

Upper BB become the resistance @ 1045.5 while support @ 992. With DJ slump 184 points we can expect further profit taking or sell down today.

HAPPY TRADING

Market News - 13 May 2009

U.S. and European Market Roundup 

• The DJIA up 50.34 points to 8,469.11points.
• U.S stocks ended mixed but well off their lows Tuesday as early concerns about a barrage of stock offerings eased and rising oil prices lifted energy stocks.
• European equities closed lower in choppy trade with weaker financial and mining stocks outweighing positive drugmakers and energy share. 
  
    

Macro and Corporate New

• Scomi Marine’s net profit rose 6.21% to RM11.12 mln for the first quarter ended March 31 compared with the previous corresponding period. 
•  EON Capital's (EONCap) net profit for the 1Q09 ended March 31 rose 4.25% to RM79.56 mln from RM76.32 mln, underpinned by lower allowances for loans and advances.
• KLCC Property's (KLCCP) net profit for its 4Q ended March 31 rose 37% to RM362.53 mln on the back of a higher surplus from fair value adjustment of its investment properties.

FKLI Technical Analysis - 12 May 2009

FKLI open low on 12 May 2009 after DJ slump more than 100 points as well as Perak state political issues but recovered in the afternoon closed 10.5 points higher @ 1025.5. Total volume of 11,323 lots transacted which is 37% higher than 11 May 2009.

Bollinger Band width remain consistance with candle still above middle BB band. RSI chart indicate FKLI moving away from overbought zone and MACD has formed a rounding top. This makes middle BB band the support @ 989 and upper BB the resistance @ 1042.5

HAPPY TRADING!

FKLI Technical Analysis - 08 May 2009

DJ closed lower -102.4 forcing FKLI further profit taking and FKLI faced choopy trading today and ended closing @ 1032, no change compare to doji yesterday.

Bollinger band width remain consistant with candle above upper BB band, MACD remain bullish while RSI remain overbought @ 72.7.

Further indecision has been spotted after yerterday doji and it could lead to reversal of trend depends on performance from US market. Fresh entries are adviced to stay closer look and US market closing on Friday as well as potential news coming out from Wesak long weekend. 

Support @ 1010, 997 while resistance @ 1036.5, 1040

HAPPY TRADING!!

FKLI Technical Analysis - 07 May 2009

FKLI closed 3.5 points higher @ 1032.5 and formed a doji.

Bollinger Band width become consistant with candle above upper BB band. MACD still in bullish mode but RSI sits in overbought zone.

With candle formed a doji convey a sense of indecision or tug-of-war between buyers and sellers as well as indicate that the buying pressure is starting to weaken.

HAPPY TRADING!

Market News - 07 May 2009

U.S. and European Market Roundup 

• The DJIA down 101.63 points to 8,512.28 points.
• U.S stocks advanced to a four-month high as investors speculated banks do not need as much capital as had been projected and a report showed employers cut fewer jobs than economists estimated.
• Elsewhere, European stocks advanced for a fifth day as companies from BNP Paribas SA to Bayerische Motoren Werke AG and Carlsberg A/S posted better-than-estimated results and economic reports signaled the recession is easing.

Macro and Corporate New

• Hong Leong Bank’s (HLB) net profit increased marginally to RM206.5 mln for the 3Q ended March 31 from a year ago due to lower taxes incurred. 

FKLI Technical Analysis - 06 May 2009

FKLI faced profit taking in the morning opening and trader stay sideline in anticipation of more news from US banks' stress test to be released on Thursday. However FKLI afternoon open with full gap up and remain high ended 22.5 points higher @ 1028.5 after news that Malaysian banks have a capital of more than RM44billion, risk weighted capital ratio of banks is about 13.4 percent, way above the eight percent minimum international requirement come out.

Bollinger Band begin to expand with candle riding @ upper BB band. MACD continuesly bullish but RSI indiate FKLI in overbought zone.

Support @ 1015.5, 994, 970 while resistance @ 1041.

HAPPY TRADING!

FKLI Technical Analysis - 05 May 2009

Profit taking after 2 days of consecutive gain makes FKLI reversed earlier gain, following with choopy movement and closed 6.5 points lower @ 1006. Analysts cautioned that investors could be spooked by the impending results of stress tests on US banks to be released to the public on May 7.

According to a Bloomberg report the stress test may show about 10 out of 19 lenders under review may need additional capital to weather a deeper recession.

Bollinger Band width remain consistance with candle above middle BB band while MACD still in bullish mode and RSI moving away from overbought area.

Support @ phycilogy level 1000 following with middle BB @ 964.5, resistance @ 1021.

HAPPY TRADING!

Market News - 05 May 2009

U.S. and European Market Roundup 

• The DJIA up 214.33 points to 8,426.74 points.
• U.S stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.
• Likewise, European stock markets rallied on Monday, adding to April's record gains and led by energy and industrial engineering shares on the back of economic data suggesting that the recession might be moderating.

Macro and Corporate News 

• Sime Darby has made a RM232 mln cash and share offer to buy the business of Ramunia Holdings, an oil and gas fabricator, as it seeks to expand its energy and utilities division.
• Kencana Petroleum, an oil and gas support services firm, is expected to win two contracts worth RM110 mln collectively from oil majors to fabricate offshore structures for projects in offshore Sarawak.

FKLI Technical Analysis - 04 May 2009

Regional markets were up at midday Monday after a survey by CLSA showed Chinese manufacturing rose to 50.1 in April compared to March’s 44.8.

Any figure above 50 shows an expansion in activity. Bloomberg said the CLSA survey was in agreement with a government-backed report on May 1 that showed an expansion.

FKLI are also following the same momentum with 65% higher transaction volume advanced 24 points @ 1012.5. 

Bollinger Band width begin to expand with candle touching upper BB band indicating potentially further bull run in near term. MACD moving away from dead cross but RSI touched overbought zone.

Support @ 961 while resistance @ 1021.

HAPPY TRADING!!