Market News - 30 June 2009

U.S. and European Market Roundup

• The DJIA up 90.99 points to 8,438.39 points.
• U.S stocks rose on Monday as higher oil prices lifted shares of energy companies and fund managers snapped up this quarter's winners to burnish their portfolios.
• European shares closed higher on Monday with financials given a boost by broker upgrades and rising crude prices lifting energy stocks.

Macro and Corporate New

• Tanjong plc's net profit for the 1QFY10 ended April 30 dipped 4.8% to RM191.4 mln from a year earlier as it recorded, among others, a net investment loss of RM3.1 mln versus net investment income of RM74.3 mln in 1Q09.
• Berjaya Corp (BCorp) posted a net loss of RM113.9 mln for the 4Q09 ended April 30 compared with a profit of RM235.9 mln a year ago due to impairment losses of about RM90.4 mln.

FKLI Technical Analysis - 29 June 2009

FKLI-SPOT formed a doji indicating uncertainty on the market. Overall FKLI traded higher intraday but low volument & closed 1 points higher @ 1080.

Trader begin to put their focus on FKLI-NEXT which is Jul09.

FKLI-NEXT begin active closed to month end closed 1077 which is 2 points higher. FKLI-NEXT also formed a doji.

Bollinger band begin to expand with candle above middle BB. MACD rounding up and a golden cross is possible with RSI showing uptrend. Support @ 1067.5 while resistance @ 1094.5.

With crude oil firming up & up coming PM announcement on libelization, the uptrend further upside for FKLI is possible.

HAPP TRADING!

Market News - 29 June 2009

U.S. and European Market Roundup

• The DJIA down 34.01 points to 8,438.39 points.
• U.S stocks capped a choppy week of trading with a mixed finish Friday after the Commerce Department reported that personal spending, incomes and savings all rose in May.
• European shares reversed gains and turned negative in early afternoon trade on Friday as U.S stock futures retreated after a brief rise as U.S personal income increased more than expected.

Macro and Corporate New

• Kumpulan Perangsang Selangor’s (KPS) 30%-owned Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) has received a revised offer totaling RM2.97 bln from the Selangor Government for its water assets and operations.
• Perisai Petroleum Teknologi will build several mobile offshore production and storage units (MOPSU), costing some RM248 mln each for the development of small and marginal fields.

FKLI Technial Analysis - 26 June 2009

DJ closed +172 overnight has lifted FKLI open high but moving down as trader begin to profit take from the hike yesterday. However FKLI regain the momentum in the afternoon and closed 3 points higher @ 1079.

Hourly chart shows BB band begin to contract with candle above middle BB. MACD nearly form dead cross and RSI nearer to overbought zone.

FKLI support @ 1077.5, 1074, 1071 while resistance @ 1084.

Market News - 26 Jun 2009

U.S. and European Market Roundup

• The DJIA up 172.54 points to 8,472.40 points.
• Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining strength.
• European shares closed lower on Thursday as banks and drugmakers fell and investor sentiment was hit by data showing the number of U.S workers filing new claims for jobless benefits unexpectedly rose last week

Macro and Corporate New

• Gamuda's third-quarter profits dropped by 40% to RM46.30 mln because of lower contribution from construction, property development and infrastructure concessions. In the three-month period ended April 30, the builder posted RM579.37 mln revenue from RM574.70 mln a year ago.
• Petra Perdana is allocating some RM1.09 bln to buy 14 new vessels that are due to be delivered within the next 18 months.

Market News - 25 June 2009

U.S. and European Market Roundup

• The DJIA down 23.05 points to 8,299.86 points.
• The Dow fell for the fourth day and other indexes ended well off the day's highs after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.
• European shares closed higher on Wednesday, led by financials after the biggest-ever liquidity injection by the European Central Bank boosted hopes that the effort could help pull the euro zone economy out of a recession.
• Berjaya Media's (BMedia) net profit for the 16 months ended April 30 amounted to RM36.7 mln mainly due to the operating profit contributed by its unit SunMedia Corporation Sdn Bhd and also the recognition of exceptional gain arising from the disposal of Edge Communications Sdn Bhd.

Macro and Corporate New

• Developer MK Land Holdings is partnering two other companies for a RM3.0 bln residential development project in northern Bangalore, India.
• Malaysian Resources Corp (MRCB) will be launching its property brand and unveil the second phase of its pioneer project at Bandar Seri Iskandar in Perak on Saturday.

FKLI Technical Analysis - 24 Jun 2009

FKLI traded higher today in tandem with regional's bourses. FKLI closed 10.5 points higher @ 1057.5.

Bollinger band width slightly contracting with candle below middle BB. MACD begin to form rounding with RSI begin moving upwards.

Depends on DJIA closing overnight, FKLI should continue its uptrend the next day if DJIA closed green overnight. Support @ 1049.5, 1037 while resistance @ 1061, 1066, 1070.

Market News - 24 June 2009

U.S. and European Market Roundup 

·  The DJIA down 16.10 points to 8,322.91 points.

·  U.S stocks ended little changed Tuesday, a day after the major indexes had their worst day in two months.

·  European shares fell to their lowest close in nearly six weeks on Tuesday, with financials suffering most, and with home sales data in the United States casting further doubt on the strength of the economic recovery.

 

 

 

Macro and Corporate New

·  Top Glove Corp saw its third quarter profit jump by 62% to RM42.2 mln for the period ended May 31 2009. Revenue rose by 4.4% to RM372 mln from RM356.1 mln previously.

·  UMW Holdings plans to raise up to RM800 mln from the sale of Islamic commercial papers and medium-term notes to fund working capital, existing or future projects and to refinance debt. It has hired Maybank Investment Bank to help arrange the bond sale, which will be done under the Musyarakah concept, it told Bursa Malaysia. 

Technical Analysis Training Program (28 Jun 2009) in Penang

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

 

Details:

 

Date	28th June 2009 (Sunday)
Time	9.30 am – 12.30 am
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=2586 by 26^th June 2009 (Friday).

 

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

 

FKLI Technical Analysis - 23 Jun 2009

DJ drop 200 points overnight caused sell-offs in the region on concerns of a prolonged economic recession. FKLI traded lower in the morning session but rebound from noon onwards ended 3 points higher @ 1047.

Bollinger band width constant with candle below middle BB. As long as BB width not expanding with candle below middle BB, there is room for FKLI to rebound. MACD still moving south with RSI index @ 57.

Support @ 1045.5, 1040, 1036 while resistance @ 1051.5, 1065.5.

HAPPY TRADING!

Market News - 23 June 2009

U.S. and European Market Roundup

• The DJIA down 200.72 points to 8,339.01 points.
• U.S stocks tumbled, sending the S&P’s 500 Index down the most in two months as the World Bank said the recession will be deeper than previously forecast.
• Elsewhere, European shares hit a five-week closing low with weaker crude oil and metals prices pressuring commodity stocks and a World Bank report on the state of the global economy dampening market sentiment.

Macro and Corporate New

• Berjaya Land (BLand) posted a net loss of RM53.98 mln for the 4Q09 ended April 30 against a net profit of RM631.68 mln in the previous corresponding period, mainly due to lower revenue contribution from its gaming, hotel and resorts as well as property development divisions.
• Kencana Petroleum’s net profit rose 25% to RM27.64 mln in the 3Q09 ended April 30, but revenue dipped to RM290.17 mln from RM298.12 mln in the previous corresponding quarter.

Market News - 19 June 2009

U.S. and European Market Roundup

• The DJIA up 58.42 points to 8,555.60 points.
• U.S stocks closed mostly higher but down from their highs of the day Thursday following three straight days of losses as the Labor Department said continuing jobless claims decreased by 148,000 to 6.69 mln, the first drop since January, even after weekly initial claims increased 3,000 to 608,000.
• European stocks rose, with the Dow Jones Stoxx 600 Index rebounding from its longest stretch of losses since February, as U.S reports on leading economic indicators, manufacturing and jobless claims suggested the global recession may be near a bottom

Macro and Corporate New

• Kencana Petroleum, through its wholly owned subsidiary, Kencana HL Sdn Bhd has been awarded RM35 mln contract from PCPP Operating Company Sdn Bhd for the fabrication of offshore platform facilities in offshore Bintulu, Sarawak.
• Telekom Malaysia (TM), the country's biggest fixed-line phone company, expects its wholesale business to contribute 15% of its total revenue in three years. Wholesale revenue, which grew by 8.7% to RM212 mln in the first quarter, currently represents 10 per cent of the group's total revenue.

FKLI Technial Analysis - 18 June 2009

FKLI closed lower for another day as Wall Street offered no fresh leads for Asian markets. The closely monitored Dow Jones Industrial Average moved in and out of positive territory throughout the trading day before closing almost unchanged overnight.

Trading in Asian stock markets was lacklustre. Buying momentum slowed as investors appear to be moving to the sidelines while selling pressure was also muted in the absence of significant developments.

FKLI bollinger band continouesly contracting with candle went below middle BB. It turns middle BB become the immediate resistance for FKLI. As long as BB width not expanding with candle below middle BB, FKLI downside risk is minimal.

Support = 1050, 1037.5, 1034.5

Resistance = 1065, 1068.5, 1074

HAPPY TRADING!!

Futures Trading Workshop-Penang on 25 June 2009

CIMB are pleased to announce that there will be a FREE workshop in Penang on Introductory to Futures Trading organised by CIMB Investment Bank Berhadexclusively for all i*Trade@CIMB customers.

 

In this workshop, we will demonstrate the facility to trade futures which include FKLI & FCPO. This workshop will cover :

 

· What is futures trading?

· Why trade futures?

· How to start futures trading?

· Performing buy & sell

· Charts

 

 

Workshop Details:

 

Date	25th June 2009 (Thursday)
Programme	12:15 pm – Registration 12:30 pm – Introductory to Futures Trading 1:15 pm – Q & A 1.30 pm – End of workshop
Venue	CIMB Investment Bank Bhd Ground Floor, Suite 1.01 Menara Boustead 39 Jalan Sultan Ahmad Shah 10050 Penang

 

Don’t miss this opportunity to learn and maximize the full potential from our Futures Trading services.

 

Contact i*Trade@CIMB Call Centre at 04 - 238 5938 or email us at itradepg@cimb.com to register by 24^th June 2009 (Wednesday). Registration is on a first-come-first-serve basis.

 

Equities & Future Seminar (Mandarin) on 20 June 2009

CIMB are pleased to announce that there will be a special FREE seminar in Mandarin entitled 2009 KL Stock Market (2^nd half year) organized by Grandpine Capital Sdn Bhd and supported by CIMB Investment Bank Berhad.

 

In this seminar, Mr Gan Min Soo and Mr Chen J.S. of Grandpine Capital will share their views on Market Outlook, Malaysia Futures Market and Equities Market.

 

 

Seminar Details:

 

Date	20th June 2009 (Saturday)
Time	2.00 pm – 6.00 pm
Venue	Nanyang Siang Bao Event Hall No. 1, Jalan SS 7/2 47301 Petaling Jaya Selangor

 

Don’t miss this opportunity to find out more investment opportunities in the current market trend.

 

For registration, please call 03 – 7727 0671. Registration is on a first-come-first-serve basis by 19^th June 2009 (Friday).

 

Market News - 18 June 2009

U.S. and European Market Roundup

• The DJIA down 7.49 points to 8,497.18 points.
• U.S stocks fell for a third straight day after Standard & Poor’s downgraded the credit ratings of 18 banks, overshadowing gains in health-care shares as Congress prepares legislation to overhaul the industry.
• European shares fell for the fourth straight session on Wednesday amid doubts about a return to economic growth, which hammered commodity stocks, and with banks in the red on fresh concerns about U.S. financial sector health.

Macro and Corporate New

• Scomi Engineering, the energy and logistics engineering subsidiary of Scomi Group, is one of two front-runners to win a RM3.5 bln monorail project in Riyadh, Saudi Arabia, industry sources said. The other candidate is a partnership between Saudi Binladin Group and Japan's Mitsubishi Corp.

FKLI Technial Analysis - 17 June 2009

Further downside from DJ overnight and world oil price uncertainty has causing FKLI traded lower for 3 days consicutively. FKLI closed 9 points lower @ 1071.

Bollinger band width remain consistance with candle nearer to middle BB. This suggest that middle BB band become the immediate support for FKLI. MACD begin moving south with RSI @ 57.5.

Resistance =1075, 1079, 1098

Support = 1064, 1060, 1057.

HAPPY TRADING!

Market News - 17 June 2009

U.S. and European Market Roundup

• The DJIA down 107.46 points to 8,504.67 points.
• U.S stocks slipped on after news of a seventh straight monthly drop in industrial production overshadowed better-than-expected reports on home construction, building permits and inflation.
• European shares fell marginally on Tuesday, with weak banking shares offsetting a rise in defensive sectors, and amid mixed signals for economic recovery.

Macro and Corporate New

• Property developer KYM Holdings is expected to sign an agreement as early as next week to help build a RM300 mln medical complex in Malacca, its Group Managing Director Datuk Raymond Chong Thin Choy said.
• Perisai Petroleum Teknologi plans to raise up to RM40 mln in a private placement for working capital and to repay debt.

FKLI Technial Analysis - 16 June 2009

FKLI dragged down by weak US economic data and lower commodity prices, closed 5.5 points lower @ 1080.

A monthly index of manufacturing conditions around the New York region fell to -9.4 in June from -4.6 the previous month, pointing that any recovery in the US - a critical market for Asian exporters - may be slower than expected.

From the 60minutes chart on the left it shows Bollinger Band width begin to expand with candle below middle BB band. MACD still in bearish mode but begin to form a rouding bottom.

Resistance @ 1083.5, 1091.5 while support @ 1078.5, 1075

HAPPY TRADING!!

Market News - 16 June 2009

U.S. and European Market Roundup

• The DJIA down 187.13 points to 8,612.13 points.
• U.S stocks tumbled, marking their worst slide in a month on Monday after regional manufacturing data dented optimism about the economy's health and resource shares fell alongside commodity prices.
• Elsewhere, European shares closed lower with financials the main drag as the European Central Bank (ECB) said euro zone banks may face further writedowns, while commodity stocks fell as crude and metal prices retreated. Bank stocks weighed heavily on the index.

Macro and Corporate New

• Scomi Engineering said it will bid for the first phase of the RM21.2 bln monorail project in Brazil next month.
• Berjaya Sports Toto (BToto) has declared a 11.0 sen fourth interim dividend for the year ended April 30, bringing a grand total of 29 sen for the FY09 or some 77.1% of its attributed profit to shareholders.

FKLI Technical Analysis - 15 June 2009

FKLI closed 5 points lower @ 1085.5 with total volume of 5374 lots transacted. Impact from most Asian market low.

Bollinger Band width begin to contract with candle remain above middle BB. MACD remain in-directional and RSI moving south.

Immediate support @ 1080.5, 1072.5, 1060 while resistance @ 1089.5, 1092.5, 1097.5.

HAPPY TRADING!

FKLI 15 June 2009 - Afternoon TA

Data captured on 15 June 2009 1412:

Moving Average:

MA(3) = 1087.5

MA(12) = 1087.5

MA(69) = 1076.5

Bollinger Band:

Upper = 1090.5

Middle = 1087

Lower = 1083.5

With regional market moving south and DJIA in the red zone, further downside is possible in the afternoon session! Happy TRADING!

Market News - 15 June 2009

U.S. and European Market Roundup

• The DJIA up 28.34 points to 8,799.26 points.
• Dow moved into positive territory for the year for the first time since early January on Friday, lifted by defensive sectors like pharmaceuticals while a disappointing outlook from National Semiconductor weighed on technology stocks.
• European shares fell on Friday, snapping a three-day winning streak, as softer commodity prices weighed on energy and mining stocks, though demand for pharmaceuticals offered support.

Macro and Corporate New

• Malaysia Airlines (MAS) has posted its first quarterly net loss in over two years, mainly due to fuel hedging losses.

FKLI Technial Analysis - 11 June 2009

FKLI closed 5 points lower after rally @ 1083.50.

Bollinger band width begin to contract with candle still maintain above middle BB. RSI sits @ 67.

Resistance @ 1093, 1096

Support @ 1086.5, 1081

HAPPY TRADING!

Market News - 12 June 2009

U.S. and European Market Roundup

• The DJIA up 31.90 points to 8,770.92 points.
• U.S stocks racked up gains across a wide array of sectors on Thursday, aided by rising commodity prices and improving labor market conditions, along with a sharp drop in interest rates.
• European equities ended at their highest close in five months on Thursday, propelled by buoyant banking stocks, as U.S macro data showing the recession was abating helped shares extend their sharp three-month rally.

Macro and Corporate New

• SapuraCrest Petroleum, the oil and gas arm of Sapura Group, is bidding for some RM5 bln worth of contracts, of which more than half comes from within the region.
• Johor Land (JLand) has achieved an acceptance level of 93.83% for its shareholders’ proposed voluntary takeover of the company for RM90 mln.

Technical Analysis Training Program @ Penang - 14 June 2009

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

Details:

Date	14th June 2009 (Sunday)
Time	9.30 am – 11.30 am
Venue	Function Hall 2   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=2586 by 12^th June 2009 (Friday).

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

 

Market News - 10 June 2009

U.S. and European Market Roundup 

·  The DJIA down 1.43 points to 8,763.06 points.

·  U.S stocks ended a quiet day mostly higher Tuesday as traders bought commodities and technology stocks.

·  Elsewhere, Europe stocks pared losses in the early trade after German industrial production fell unexpectedly by 1.9% month-on-month in April, hit by a sharp fall in capital goods output, the Economy Ministry said.

  

Macro and Corporate New

·  DIGI Telecommunications Sdn Bhd, a unit of DiGi.Com, launched its latest promotion yesterday as it seeks to win more customers from big corporate clients.