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.