Market News - 12 Nov 2009

·         Wall St up 0.4%. Prospect in regional markets is likely to improve following the strong economic data from China, and Japan. China industrial production rose 16.1% annual in October, with exports improving in October, down 13.8%, compared to Sept’s 15.2% drop. Japan machinery orders rose 10.5% in Sep, exceeding estimate of 4.5%. This weekend APEC meeting Singapore is likely to continue stimulus package. Commodities gained, and dollar eased.

·         Dow of 10,291. Resistances at 10,300, 10,500, 10,800

·         Dollar unchanged at 89.9 yen.

·         Crude oil unchanged at USD79, targeting USD84

·         Gold continues to rise to USD1,114. Targeting USD1137

·         Ringgit of 3.38, is stronger. Upside is at 3.36

·         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 lower at 1270. Upside is at 1281, 1294. Support is 1268 price gap.

·         CPO Dec futures of RM2220, on support at RM2100 price gap, is targeting the price gap of RM2340 of 1/9/09.

·         Today’s trading range is between 1265 and 1275.