Market News - 26 Aug 2009

U.S. and European Market Roundup

• The DJIA up 30.01 points to 9,539.29 points.
• U.S stocks rose on Tuesday as economic data and the renomination of Federal Reserve chief Ben Bernanke reassured investors and offset concerns about red ink in the federal budget.
• European shares hit their highest close since October on Tuesday after better-than-expected U.S house prices and consumer confidence data lifted investor spirits, with oils and banks rebounding from earlier losses.

Macro and Corporate New

• Bank Negara Malaysia has left borrowing cost unchanged at 2%, citing improvements in domestic and global economic and financial conditions.
• Maybank reported its lowest annual net profit in a decade after it wrote down the value of its overseas banks. Net profit for the year to June 30 2009 came in at RM691.9 mln, some 76% lower than the previous year's RM2.9 bln.

Market News - 20 Aug 2009

U.S. and European Market Roundup

• The DJIA up 61.22 points to 9,279.16 points.
• U.S. stocks rose on Wednesday, shaking off a slide in China's equity market, as investors responded favorably to a surprising drop in crude oil stockpiles that might suggest an improving demand outlook.
• European equities ended lower on Wednesday, with banks and autos leading the fall, as investors scaled back their trading positions after heavy losses in Asia and on concerns about the pace of the global economic recovery.

Macro and Corporate New

• Property developer Mah Sing Group posted a 38% drop in its fiscal second-quarter net profit from a year ago, as last year's gain is boosted by a large property sale.
• TDM, a plantation group owned by the Terengganu state government, is investing RM114 mln to set up its fourth hospital and meet growing demand for healthcare on the east coast.
• Kencana Petroleum's wholly owned subsidiary, Kencana HL Sdn Bhd has been awarded a contract from Afcons-Gunanusa joint venture, a company based in Mumbai, India for the construction of jackets for offshore process platform..

Market News - 19 Aug 2009

U.S. and European Market Roundup

• The DJIA up 82.60 points to 9,217.94 points.
• U.S stocks rose on Tuesday, rebounding after sharp losses in the previous session, as better-than-expected results from big retailers encouraged investors to get back into the market.
• European equities ended higher on Tuesday after hitting a two-week low in the previous session, with stronger crude oil prices supporting energy shares and Swedbank leading the banking sector higher.

Macro and Corporate New

• Malaysia saw manufacturing sales dip 25.5% in June 2009 to RM39.3 bln compared with a year ago, led by a drop in basic iron and steel products.
• Proton Holdings's net profit in the first quarter to June 30 2009 rose marginally to RM54.6 mln from RM52.0 mln a year ago despite the slightly lower sales volume.
• Transmile Group's net loss narrowed to RM449,000 in the second quarter to June 30 this year, from a net loss of RM21.0 mln a year ago. This is helped by unrealised foreign exchange gain of RM11.2 mln on U.S Dollar loans.

Market News - 18 Aug 2009

U.S. and European Market Roundup

• The DJIA down 186.06 points to 9,135.34 points.
• U.S stocks suffered their worst loss in seven weeks on Monday as weak data from Japan dampened hopes about the economy's growth.
• European shares fell to their lowest close in more than two weeks on Monday, as investors took profits, worrying that a recent rally was not supported by economic data.

Macro and Corporate New

• Pos Malaysia's net profit for the second quarter to June 30 this year eased marginally to RM15.9 mln from RM16.6 mln a year ago while revenue, however, rose to RM227.3 mln from RM223.2 mln in the same quarter in 2008.
• Alliance Financial Group's net profit dropped by more than half in its fiscal first-quarter, due to lower operating profit, higher allowance for losses on loans and higher provision for impairment on an investment security.

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

FKLI Technical Analysis - 10 Jul 2009

FKLI closed 2 points lower after 2 consecutive of "Long" days. FKLI is in negative divergence behaviour with conract prices increase in the past 2 days but with lower and lower volume.

Bollinger Band width contracting with candle below middle BB suggesting middle BB the next resistance for FKLI @ 1067.5. MACD show some sign of rounding bottom while RSI remain neutral @ 64.7.

FKLI support @ 1055.5 follow by 1044 while resistance @ 1067.5 follow by 1091.

HAPPY TRADING!!

FKLI closed 17 points lower @ 1057 due to no lead from DJ (closed on Friday for Independent Day) and weak Asian market.

FKLI candle begin to move below middle BB band with BB width begin to expand. Once BB expanding further and candle below middle BB, this is a sign for further downside for FKLI. MACD also in bearish mode moving south heading to zero line.

1000 become the critical psycholigical support for FKLI within this short term. As long as 1000 not broken it shall be a correction wave before the next jump.

HAPPY TRADING!

FKLI Technial Analysis - 01 Jul 2009

FKLI traded higher on 01 Jul 2009 disregards of cash market which is traded lower in the morning but picking up in the afternoon. FKLI closed 4 points @ 1083 with 8,375 contracts transacted.

Bollinger band remain consistant wth candle closed above middle BB. MACD forming golden cross, RSI begin moving norht @ 59.8. Most of the indicator suggesting that further uptrend is possible for FKLI depending on participation/volume involved.

Support @ 1080, 1072, 1046 while resistance @ 1098.

HAPPY TRADING!

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.

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.

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 - 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!