Market News - 18 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 7.79 points to 9,783.92 points.

·  U.S stocks slipped on Thursday after a three-day run up on concern recent gains were overextended despite the latest round of solid economic data. 

·  European shares hit an 11-month closing high for a second straight session on Thursday, powered by energy and financial stocks, on expectations the global economy was on a recovery path.

 Macro and Corporate New

·  Bursa Malaysia has agreed, after over a year of negotiations, to sell a 25% stake in its derivatives unit to CME Group Inc, the world's largest derivatives exchange.

·  AEON Credit Service (M) posted a 18.5% increase in its second-quarter net profit, helped by its promotional activities and growth in consumer financing receivables and the number of credit cards issued.

 

 

Market News - 15 Sep 2009

U.S. and European Market Roundup 

·  The DJIA up 21.39 points to 9,605.41 points.

·  U.S stocks rose on Monday, bounced back from early losses to post moderate gains as traders funneled money into utility and financial companies and reports of more merger activity added to a string of recent deals, suggesting investors still see value in the market after its runup of more than 50% since March. 

·  European shares fell on Monday, snapping six consecutive days of gains, as weaker banks and energy shares outpaced positive food producers, while a U.S-China trade row also hurt sentiment.

 Macro and Corporate New

·  Managing Director Datuk Syed Zainal Abidin Syed Mohamed Tahir is speculated to have been considering a management buyout (MBO) of Proton.

·  Airasia, is expected to raise up to RM665 mln in a new share placement as it seeks to cut its debt. Demand for full-fare carriers has been hit by the economic downturn, which has given a boost to discount airlines.

 

Technical Analysis Training Program (Penang) @ 19 Sep 2009

CIMB are pleased to announce that there will be a FREE preview entitled Technical Analysis Training Program organised byChartNexus 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. William is also a key figure in the after-course support program leading charges such as graduate gatherings.

 

Seminar Details:-

 

This seminar will cover the study of Japanese candlestick charting and the various candlestick patterns as well as technical indicators. The highlight of the seminar will be on how to use candlestick in the “falling and rising” window strategy for short-term trading.

 

·         How to recognize trend reversal early

·         How to trade the “falling and rising” window strategy with candlestick analysis

·         Why you should combine candlestick analysis with technical indicators

 

Date	19th September 2009 (Saturday)
Time	10.00 am – 12.00 pm
Venue	The Northam All Suite Penang East & West, Level 2 55, Jalan Sultan Ahmad Shah 10050 Georgetown 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=2852 by 17^th September 2009 (Thursday).

 

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

 

Market News - 14 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 22.07 points to 9,605.41 points.

·  U.S stocks broke a five-day winning streak on Friday on a drop in crude oil prices but posted solid gains for the week. 

·  European shares closed higher on Friday, rising for the sixth consecutive day as miners and banks performed well and strong U.S. macroeconomic data boosted hopes of a swift global recovery.

 

Macro and Corporate New

·  Retailer Padini expects annual sales growth in fiscal 2010 to slow from a year earlier as it expands at a slower pace.

·  Mulpha International’s units are disposing of their entire combined stake in Pacific Orchid Investments Ltd, whose group core business is paint manufacturing and trading in petrochemicals, to Hong Kong-listed COL Capital Ltd for RM129.4 mln.

 

Market News - 09 Sep 2009

U.S. and European Market Roundup 

·  The DJIA up 56.07 points to 9,497.34 points.

·  U.S stocks advanced on Tuesday on an uptick in corporate deal activity while the weak Dollar led to gains in commodities, lifting shares of oil and mining companies. 

·  European shares closed higher on Tuesday for the third consecutive session, with commodity stocks rising on the back of firmer crude and metal prices, while M&A activity boosted telecoms.

 

Macro and Corporate New

·  Green Packet, a telecommunications and broadband service provider, plans to buy a stake in a foreign WiMAX licensee by the end of this year as it expands its wireless broadband business outside the country.

·  Singapore Calyon and Natixis are among seven banks that agreed to lend RM2.45 bln to YTL Power International Bhd for its acquisition of PowerSeraya Ltd.

 

Market News - 08 Sep 2009

U.S. and European Market Roundup 

·  The DJIA was closed to 9,441.27 points.

·  U.S stocks were closed on Monday on U.S Labor Day holiday weekend. Meanwhile, European shares closed higher on Monday, with British confectionery group Cadbury soaring 38% following a 10.2 bln pound ($16.7 bln) bid approach from U.S company Kraft Foods. 

·  Across Europe, the FTSE 100 rose 1.7% to its highest close in more than 11 months. Germany's DAX and France's CAC 40 both rose 1.5%. .

 

Macro and Corporate New

·  Malaysia exports in July fell a better-than-expected 22.8% from a year ago as major economies continued to reel from the global recession.

·  Superior Pavillion Sdn Bhd (SPSB) and Odyssey Wealth Sdn Bhd (OWSB) have revised the takeover offer price for Kumpulan Jetson Bhd to RM1 per share from 70 sen previously and to 93 sen per irredeemable convertible unsecured loan stocks 2002/2012 from the earlier 65 sen.

 

Market New - 07 Sep 2009

U.S. and European Market Roundup 

·  The DJIA up 96.66 points to 9,441.27 points.

·  U.S stocks closed higher on Friday as investors focused on the bright side of a mixed payrolls report that showed smaller-than-expected job cuts in August, although the unemployment rate hit a 26-year high. 

·  European stocks, drawing some support from better-than-expected U.S jobs data, snapped four days of losses on Friday with banking and mining stocks the major gainers.

 

Macro and Corporate New

·  The kitchen cabinet and wardrobe maker expects its exclusive dealership and outsourcing business model to sustain sales growth of between RM500 mln and RM1 bln.

·  Retailer and mall operator AEON Co (M) has scrapped its plan to set up a property trust, one of the company's options to raise funds, as it has enough cash to expand.

 

 

Market New - 04 Sep 2009

U.S. and European Market Roundup 

·  The DJIA up 63.94 points to 9,34461 points.

·  U.S stocks rose on Thursday, snapping a four-day losing streak, after stronger-than-expected retail sales data eased concerns about the economy before Friday's important jobs data. 

·  European shares were ended lower for a fourth straight session on Thursday, pressured by energy and pharma stocks, with analysts detecting no early resumption of the market upswing without solid evidence of economic recovery.

 

Macro and Corporate New

·  Developer Glomac might buy more land in Cyberjaya, Selangor following the success of its RM180 mln flagship Glomac Cyberjaya project.

·  Sime Darby Engineering Sdn Bhd, an indirect wholly-owned subsidiary of Sime Darby Bhd, will buy the Teluk Ramunia fabrication yard from Ramunia Holdings Bhd and Ramunia Optima Sdn Bhd for RM530 mln.

 

Market News - 03 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 29.93 points to 9,280.67 points.

·  U.S stocks fell on Wednesday as jitters about the economy prompted investors to unload some shares for a fourth-straight day even after a sharp drop in the previous session. 

·  European shares were closed lower for a third straight day on Wednesday, with financial stocks suffering the most, as investors took profits after a strong run in recent months.

 

Macro and Corporate New

·  Bina Darulaman has received an interim letter of acceptance for the construction of a campus for Kolej Universiti Insaniah in Kedah worth RM330 mln from the Works Ministryect.

·  Success Transformer Corp plans to list its wholly-owned unit Seremban Engineering Bhd on the Main Market of Bursa Malaysia.

·  The Employees Provident Fund has emerged as the substantial shareholder of Mah Sing Group, a property firm. 

 

Market News - 02 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 185.68 points to 9,310.60 points.

·  U.S. stocks fell for a third straight day on Tuesday, spooked by uncertainty over the health of financials and concerns that the explosive rally since March may have run ahead of economic reality. 

·  European shares posted their biggest one-day percentage fall in two weeks on Tuesday, led by banks and commodity stocks, but analysts said the market was likely to resume its climb after a period of consolidation.

 

Macro and Corporate New

·  OILFAB Sdn Bhd, a unit of Oilcorp, has won a contract from Carigali Hess Operating Co Sdn Bhd to provide a project management team (PMT), onshore fabrication, logistic support, offshore hook-up, and construction and commissioning to Carigali Hess' brownfield retrofit project.

·  Malaysian Bulk Carriers (Maybulk) posted a significant improvement in its second quarter ended June 30 against its first quarter, in line with the uptrend in the Baltic Dry Index (BDI).

 

Market News - 01 Sep 2009

U.S. and European Market Roundup 

·  The DJIA down 47.92 points to 9,496.28 points.

·  U.S stocks fell on Monday as concerns about the global economy's health weighed on Wall Street following a sell-off in Chinese equities. 

·  European shares closed lower on Monday, dragged down by falls in China and the United .

 

Macro and Corporate New

·  Year-to-date, the toll road operator has achieved 4% growth in traffic volume and believes it would be sustainable for the rest of the year.

·  Property developer Magna Prima said its wholly-owned unit will buy Ibsul Development Sdn Bhd for RM3.5 mln.