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 - 25 Aug 2009

U.S. and European Market Roundup

• The DJIA up 3.32 points to 9,509.28 points.
• U.S stocks ended the day barely changed on Monday as investors took a break from a four-day rally that lifted major indexes to 10-month highs. Wall Street initially charged higher, but a sharp gain in U.S Treasury debt prices, which drove benchmark yields lower, triggered a sell-off in stocks.
• European shares hit their highest closing level in more than 10 months on Monday, boosted by banks and miners, with recent economic data and positive comments from some central banks prompting investors to grab risky assets.

Macro and Corporate New

• Yesterday, Tan bought another 11.23 mln shares, or 18.14%, in GBH for RM16.84 mln, or RM1.50 a share. CIMB said those who had accepted the offer at RM1.25 apiece would be entitled to receive the revised offer price of RM1.50, up from RM1.25 before.
• RHB Capital said its second quarter net profit rose 11% to RM301.53 mln from a year ago, driven mainly by its Islamic banking business.

Market News - 17 Aug 2009

U.S. and European Market Roundup

• The DJIA down 76.69 points to 9,398.19 points.
• U.S stocks fell broadly on Friday, as the major indexes snapped a four-week streak of gains after weak consumer sentiment data fueled concerns about the strength of an economic recovery.
• European shares fell on Friday, ending four weeks of gains, pressured by weak U.S consumer confidence data, which raised questions about the pace of recovery in the world's largest economy.

Macro and Corporate New

• Parkson Corp Sdn Bhd will increase its total retail space by 11% this year with the addition of four new stores. The four new openings, costing some RM18 mln to RM20 mln, will see Parkson operating 36 stores with a combined retail space of 3.7 mln sq ft.

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 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!

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!!

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!!

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 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!

FKLI Technical Analysis - 28 May 2009

FKLI traded lower today after announcement on Malaysia GDP contraction of 6.2%. Even it has been revised to contraction of 4%-5% in the afternoon, it doesn't bring much positive impact as trader continue taking profit from yesterday hike.

FKLI closed 11.5 points lower @ 1038.5 with Bollinger Band width continue contraction and candle nearer to middle BB band. Both MACD & RSI continue heading south.

Resistance @ 1044.5, 1055.5, 1059.5 while support @ 1033.5, 1025, 991.

HAPPY TRADING

FKLI Technical Analysis - 26 May 2009

FKLI traded lower after profit taking from the gain on 25 May 2009. FKLI closed 7.5 points lower @ 1042 with higher volume traded.

Bollinger Band width remain consistent with candle above middle BB. MACD failed to form a golden cross and begin moving south while RSI moving away from overbought zone.

Support @ 1018 while resistance @ 1063.

HAPPY TRADING!

FKLI Technical Analysis - 25 May 2009

FKLI traded higher yesterday closed 1.5 points higher @ 1050.50.

Bollinger band width begin to expand with candle above middle BB indicating further bullish ahead. However it might have some pull back & profit taking due to more and more company quarterly results release this week.

MACD nearly forming golden cross with RSI @ 66.3 nearer to overbought zone.

Resistance @ upper BB 1061, support @ middle BB 1015.

FKLI Technical Analysis - 22 May 2009

DJ falled 129.91 points on Thurs night doesn't really affect FKLI much during opening as better news is coming out from Malaysia PM's visit to Singapore.

FKLI traded higher with 10,692 lots transacted and closed 19 points higher @ 1048.

Bollinger Band width begin to expand with candle riding above middle BB band indicating bullish trend ahead with upper BB and middle BB become to resistance & support respectively.MACD bullish & nearly forming a golden cross, RSI @ 65.8 in neutral zone but getting nearer to overbought zone.

** US consumer confidence will be released on 26 May & New Home Sales will be released on 28 May. 

Upper BB = 1056

Middle BB = 1012

Lower BB =  968