Market News - 31 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 83.74 points to 1,160.66 points.

·  U.S stocks rose on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses. 

·  European equities hit their highest closing level in nearly nine months on Thursday and ended firmer for the 12th out of 14 sessions, as encouraging earnings results and soothing economic data boosted investor morale.

 

Macro and Corporate New

·  Multi Sports Holdings Ltd, one of the top five sports shoe sole specialist maker based in Jinjiang, Fujian (China), expects to raise RM48.9 mln from its initial public offer en route to a Bursa Malaysia listing next month.

·  Intergrated offshore crane services provider Handal Resources is looking to expand into Thailand and Indonesia, its Executive Chairman, Datuk Mohsin Abdul Halim. Even in Malaysia, the company only operates fully in Terengganu and has yet to expand to other areas. 

 

Market News - 30 Jul 2009

U.S. and European Market Roundup 

·  The DJIA down 26.00 points to 9,070.72 points.

·  U.S stocks fell on Wednesday as investors worried that China might be ready to hit the brakes on lending, a move that could curb demand and hinder the global economic recovery. 

·  European shares rose on Wednesday, as a slew of corporate earnings releases encouraged investors with chemicals companies among the biggest gainers.

 

Macro and Corporate New

·  Boustead is selling its Indonesian oil palm estates and its insurance business under BH Insurance (M), and expects to raise up to RM730 mln from the rights issue  Boustead Holdings expects to raise about RM1.3 bln by the end of this year from a rights issue and the sale of existing businesses to cut debt and fund expansion.

 

FKLI-NEXT Technical Analysis - 30 Jul 2009

As month end approaching traders begin to divert attention to FKLI-NEXT.

FKLI-NEXT traded lower closed 13.5 lower @ 1160 impacted from weak regional market especially China sell off.

Bollinger Band width continue expanding with candle above middle BB band suggesting market still have room for moving up. MACD remain bullish with RSI near to overbought zone.

Immediate support 1152.5, 1135.5, 1105.5 @ while resistance @ 1162, 1168, 1189.5

Market News - 29 Jul 2009

U.S. and European Market Roundup 

·  The DJIA down 11.79 points to 9,096.72 points.

·  The Dow and the S&P 500 dipped on Tuesday as investors shrugged off weak consumer confidence data and focused on positive earnings reports. 

·  European shares fell on Tuesday after hitting their highest close for 8-1/2 months in the previous session, as Deutsche Bank led banks lower and BP's results put pressure on energy stocks. 

Macro and Corporate New

·  Bursa Malaysia will launch in the middle of next month a global trading platform that enables banks to buy and sell commodities to facilitate Islamic finance.

·  It may become the fourth company from China to be listed on Bursa Malaysia once several corporate exercises are completed by the first quarter of next year.

 

Market News - 27 Jul 2009

U.S. and European Market Roundup

• The DJIA up 23.95 points to 9,093.24 points.
• U.S stocks rose, completing the steepest two-week rally for the Dow Jones since 2000, as companies beat profit estimates and an increase in home resales signaled an economic recovery may be underway with gains in pharmaceutical and energy shares lifted the Dow and the S&P 500 to fresh 8-month closing highs.
• European equities ended a shade lower on Friday after advancing for nine straight sessions, with weaker technology stocks overshadowing gains made by financial shares

Macro and Corporate New

• YLI Holdings, one of the country's largest manufacturers of ductile iron pipes, expects its performance to be slightly affected this year due to lower pipe sales, says chairman Tan Sri Syed Mohd Yusof Syed Nasir..
• Packet One Networks Sdn Bhd, a subsidiary of Green Packet and Malaysia's first telco to provide WiMAX services network, plans to expand its business in India but is not bidding for a spectrum licence there.

Master the Markets Foundation Course (27-28 Jul 2009)

CIMB are pleased to announce that there will be a workshop on “How to make Money from the Stock Market" organised byExecutive Solutions Sdn Bhd, supported by CIMB Investment Bank Berhad exclusively to all i*Trade@CIMB Customers.

This seminar will be cover on how to trade and invest like a pro by panel of reputable speakers. The profiles of the speakers are as follows:

1.     Bill Wermine is a Fund Manager’s Representative with Phillip Capital Management Sdn. Bhd. He has worked as a Share Broker, Futures Broker and trader for a number of firms both in the US and in Malaysia. Bill holds a BA in Communication from the University of Maryland and is also the author of "How You Can Get Rich Swing Trading".

2.     Martin is a licensed Futures Broker with CIMB Futures. He is also private investor/trader. He holds a MBA (Dist.) from University of Bath, U.K & a B.Sc. (Upper 2nd Class) from Monash University, Australia. Martin is a registered CPE course leader with the Malaysian Securities Commission. Martin is the author of "Becoming Rich Fast: How You Can Invest Like the Very Rich".

 Seminar details:

Date	27th & 28th August 2009 (Monday & Tuesday)
Time	10 am – 5 pm (Monday)   10 am – 1 pm (Tuesday)
Venue	PC Quote Training Center   B-2-6 Megan Avenue 11, 12 Jalan Yap Kwan Seng, 50450 Kuala Lumpur
Fee	•          Normal Price RM 788   •          For itrade CIMB clients : RM 588 for 1.5 days workshop

 

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

For registration, please call Dolly 016 637 1508 / 03 4252 4149 or email seminars@tradethetruth.com for enrollment by 24^thJuly 2009 (Friday).

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

 

Market News - 23 Jul 2009

U.S. and European Market Roundup 

·  The DJIA down 34.68 points to 8,881.26 points.

·  U.S stocks ended a quiet day mixed Wednesday as traders were hesitant to commit more money to the market after a weeklong surge, with the Standard & Poor’s 500 Index slipping from an eight-month high, as energy producers dropped on lower oil prices and banks slid following an increase in bad loans at Wells Fargo & Co. 

·  European shares closed higher for the eighth straight session on Wednesday, their longest winning streak since December 2006, as gains in pharmaceutical stocks overshadowed falls in banking stocks

 

 Macro and Corporate New

·  DiGi.COM , the country's third largest mobile operator, says its second-quarter net profit fell 21.3% to RM234.5 mln due to higher cost of its third-generation (3G) rollout.

·  Thong Guan Industries’s wholly-owned subsidiary Thong Guan Plastic & Paper Industries Sdn Bhd has conditionally agreed to buy a warehouse in Kedah for RM6.2 mln.

·  The international reserves of Bank Negara Malaysia rose 1.04% to RM321.7 bln as at July 15 from RM318.4 bln on June 15 

 

Market News - 22 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 67.79 points to 8,915.94 points.

·  U.S stocks rose on Tuesday as a solid profit from Caterpillar Inc overcame some uneasiness about the company's outlook for the current quarter, but the gains were limited as some investors paused following the recent earnings-fueled run-up. 

·  European shares rose for the seventh straight session on Tuesday, reaching their highest close since early January, with mining and energy stocks in the lead while banks and mobile phone maker Nokia fell.

 Macro and Corporate New

·  Dialog Group and Vopak Asia Pte Ltd, plan to develop an independent storage terminal for oil products in Pengerang, Johor.

·  Bursa Malaysia, says it aims to attract as many as 40 new listings a year as the easing of investment rules in the country helps draw foreign investors.

 

Investment Congress (Mandarin) - 02 Aug 2009

CIMB are pleased to announce that there will be a public seminar on Stock Market and Money Management Issues organised by Market Wizard Enterprise, supported by CIMB Investment Bank Berhad exclusively to all i*Trade@CIMB Customers.

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

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

·  Mr. C.C. Hong, renowned chartist and columnist for more than 20 years.

·  Mr. Alan Eiew, founder of Winners Strategy Training Consultancy, involved in training field for more than 14 years, columnist for newspaper and magazines.

·  Dr. Lew Pow Onn, Chartered Accountant, PhD, CA, CPA, FTII, FCCA, ACMA, ACIS.

Seminar details:

Date	2nd August 2009 (Sunday)
Time	9 am – 5 pm
Venue	Grand Ballroom   The Gardens Hotel Mid Valley Megamall Kuala Lumpur

 

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

For registration, please call 03 – 2092 2516 or 012 – 317 8834 by 28^th July 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 - 21 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 104.21 points to 8,848.15 points.

·  U.S stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week. 

·  European shares rose for a sixth straight session on Monday to a five-week closing high on further evidence of recovery in the United States and a rescue package for lender.

Macro and Corporate New

·  UEM Land Holdings is exploring various funding options including issuance of convertible bonds, to raise funds for its ongoing development activities in Nusajaya, Johor.

·  MMC Corp said Salalah Power Holdings Ltd (SPHL) has agreed to divest its 46% interest in Dhofar Power Co SAOG (DPC) to Oman Technical Partners Ltd (OTPL), Oman Power and Water Procurement Co SAOC (OPWP) and Electricity Holding Co (EHC) for about RM124.8 mln.

·  AXIS Axis REIT Managers, the manager of Axis Real Estate Investment Trust (REIT), has partially agreed to buy an industrial complex in Klang, Selangor, from Maximum Icon Sdn Bhd (MISB) for RM65 mln.

·  BHS Industries Bhd’s wholly-owned unit, BHS Book Printing Sdn Bhd (BBP), plans to sell a 8,510 sq m leasehold industrial land in Cheras, Selangor, to Sin Chee Heng Sdn Bhd (SCH) for RM4.2 mln.

 

Market News - 20 Jul 2009

US Market Recap

Stocks hovered around breakeven for most of the session, as the Street absorbed a cornucopia of corporate earnings reports. Ahead of the bell, a bevy of blue chips took center stage, with disappointing earnings from General Electric (GE) and Bank of America (BAC) neutralizing a stronger-than-expected report from International Business Machines (IBM). However, encouraging housing stats from the Commerce Department helped tip the scales in the bulls' favor. Early in the session, the government said that new home construction unexpectedly advanced in June, rising to the fastest pace since late 2008. By the closing bell, most broad-market barometers finished in the black, concluding the best week on Wall Street since mid-March.

The Dow Jones Industrial Average (DJIA – 8,743.94) ended higher for the sixth time in seven sessions, gaining 32.1 points, or 0.4%, by the close. Thirteen of the Dow's 30 blue chips advanced, led by IBM and JPMorgan Chase (JPM). Pacing the declining issues were General Electric, Bank of America, and Alcoa (AA). For the week, the Dow skyrocketed 7.3%, reclaiming its perch atop its 10-week moving average.

The S&P 500 Index (SPX – 940.38) traded in a narrow range today, but couldn't eke out a gain by the closing bell. When all was said and done, the SPX ended fractionally lower, giving back 0.04%. However, for the week, the broad-market index soared 7%. Finally, the Nasdaq Composite (COMP – 1,886.61) once again outshined its rival indices, muscling higher for the eighth straight session. By the close, the tech-rich index mustered a gain of 1.6 points, or 0.1%, but finished the week 7.4% higher.

Market News - 17 Jul 2009

U.S. and European Market Roundup

• The DJIA up 95.61 points to 8,711.82 points.
• U.S stocks rallied for a fourth day on Thursday after JPMorgan's strong results fed growing optimism about the quarterly earnings season and technology shares rose in anticipation of more good news.
• Elsewhere European shares hit a one-month closing high on Thursday, with financial stocks were among top gainers, following a jump in JPMorgan's profits and after data showed the number of U.S workers claiming new jobless benefits fell last week.

Macro and Corporate New

• Kencana Petroleum Bhd has won a US$11.9 mln contract to build stinger systems and handling system for a pipe-lay barge.
• A group of companies led by Hock Seng Lee (HSL) has signed a RM137.2 mln government deal for a flood mitigation project in Sibu, Sarawak.
• Sarawak Energy has obtained a RM1.45 bln loan to part finance the construction of the 944MW Murum hydroelectric plant in Sarawak.

Cross Border Trading Workshop - Kuching (22 Jul 2009)

CIMB are pleased to announce that there will be a FREE workshop on Introductory to Cross Border Tradingorganised by CIMB Investment Bank Berhad exclusively for all i*Trade@CIMB customers.

 

In this workshop, we will demonstrate the features to trade in the Non-Ringgit markets which include theSingapore Stock Exchange (SGX), Hong Kong Stock Exchange (HKSE), New York Stock Exchange (NYSE), NASDAQ and American Stock Exchange (AMEX). This workshop will cover :

 

· Registering and activating your access

· Stock search

· Favourite list of stocks

· Performing buy & sell

· Charts

· Research

 

 

Workshop Details:

 

Date	22nd July 2009 (Wednesday)
Programme	12:00 pm – Registration 12:15 pm – Introductory to Cross Border Trading 1:30pm – Q & A 1.45pm – End of workshop
Venue	CIMB Investment Bank Bhd Level 6 Wisma STA No. 26 Jalan Datuk Abang Abdul Rahim 93450 Kuching

 

Don’t miss this OPPORTUNITY to learn and maximize the full potential from our Cross Border Tradingservices.

 

Refer your friends and family to trade with CIMB during this tutorial and get CASH reward* (terms & conditions apply)

 

Contact i*Trade@CIMB at 082-358688 or email us at harjinder.cheema@cimb.com to register by 21^st July 2009 (Tuesday). Registration is on a first-come-first-serve basis.

 

Market News - 16 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 256.72 points to 8,616.21 points.

·  U.S stocks jumped on Wednesday with the S&P 500 racking up its three best days since March, sparked by results from bellwether Intel Corp that lifted hopes for a rebound in technology spending and improved corporate profitability. 

·  Elsewhere, U.K stocks rose the most since April after Intel Corp. forecast sales that topped analysts estimates and unemployment claims climbed by the least in a year in June, spurring speculation the economic slump is easing

Macro and Corporate New

·  Property developer Magna Prima Bhd plans to buy several parcels of land, with the combined size of over 8.9ha, for RM40.53 mln cash.

·  Sindora plans to sell its entire 40% stake, or 400,000 shares, in Willis (Malaysia) Sdn Bhd, an insurance broker, for RM14.21 mln cash.

·  Merge Energy says its request to lift the PN17 status without submitting a revamp plan has been approved by Bursa Malaysia. 

 

Market News - 15 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 27.81 points to 8,359.49 points.

·  U.S stocks managed modest gains on Tuesday as better-than-expected corporate profit overshadowed concerns about weak consumer demand. 

·  European shares rose for a second day on Tuesday, with banks boosted by hopes that better-than-expected results at Goldman Sachs are heralding a strong reporting season for the sector.

Macro and Corporate New

·  George Kent (Malaysia) which makes water meters and brass components, is aggressively looking for acquisition targets to grow its meter and contract divisions.

·  United Malacca (UMB) is buying two parcels of agricultural leasehold lands in Sungai Millian-Labau in Sabah, measuring about 4,04.8 ha from Borneo Glow Sdn Bhd (BGSB) for RM240 mln. 

 

Market News - 14 Jul 2009

U.S. and European Market Roundup 

·  The DJIA up 185.16 points to 8,331.68  points.

·  U.S stocks rallied, sending the Standard & Poor’s 500 Index to its best gain in six weeks, while The Dow Jones jumped 185 points in relatively thin trading volume, as analyst Meredith Whitney recommended buying shares of Goldman Sachs Group Inc. and said banks may advance 15%. 

·  European shares rallied on Monday, recouping some of last week's steep losses, as banks tracked advances in U.S financials while oil stocks were also in demand despite weak crude prices.

 

 

Macro and Corporate New

·  Comintel Corp has won a RM15.56 mln contract from Technology Park Malaysia Corp Sdn Bhd to upgrade information communication technology (ICT) infrastructure at Technology Park Malaysia.

·  Financial services group K&N Kenanga Holdings is selling its stake in a Dubai-based advisory as it does not expect contributions in the near future, says its top official. 

CIMBInvest System Walkthrough (18 Jul 2009)

CIMB are pleased to announce that there will be a special seminar on CIMBinvest System Walkthrough andTrading Effectively with Fibonacci organized by CIMB Investment Bank Berhad exclusively for alli*Trade@CIMB customers.

 

Mr Lim Chee Kiong, Head of E-Trading of CIMB-GK will demonstrate the features of CIMBinvest, our flagship online cross border share trading platform.

 

Mr Justin Tan from ChartNexus will conduct the Technical Analysis with Fibonacci covering the local and foreign markets.

 

 

Seminar Details:

 

Date	18th July 2009 (Saturday)
Programme	9.15 am – Registration   10.00 am – CIMBinvest System Walkthrough   11.00 am – Break   11.15 am – Trading Effectively with Fibonacci   12.45 pm – Q & A
Venue	CIMB Auditorium Ground Floor, Bangunan CIMB Jalan Semantan Damansara Heights 50490 Kuala Lumpur

 

Contact i*Trade@CIMB Call Center at 03-2084 9890 or email us at itrade_events@cimb.com to register by16^th July 2009 (Thursday). Registration is on a first-come-first-serve basis.