Market not good

Hai every one,

For today share market preview,share prices closed lower on 26/6/2006 in thin trade on some
profit-taking, with sentiment still generally weighed down by fears that
rising interest rates would slow global economic growth, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed down 1.83 points or 0.20
pct at 904.51.
Bursa Malaysia said it encountered some technical problems in the course
of today's trade following the launch of six FTSE indices on the exchange,
explaining the delay in the release of the trading outcome.

Losers outnumbered gainers 412 to 257, with 287 counters unchanged.
Volume was at 524.477 mln shares.
At the close, the ringgit was quoted at 3.6890/6940 to the dollar.

Kenny Yee, head of research at OSK Securities, said while there were no
major sell orders in the market today, sentiment was largely influenced by
external factors, such as the widespread fear of the impact of impending
interest rate hikes in the US on global economies.
The Federal Open Market Committee (FOMC) is due to meet on Wednesday, and
it is widely anticipated that the outcome of the meeting will be a 25-basis
point increase in the Fed Fund rates.
Yee said that although the market had factored in a potential 25-basis
point rate hike by the US by the end of the month, concerns about a
continuing rate hike cycle remain.
"Going forward, I think the market will continue to trade in tight range,
" he added.
Meanwhile, a local brokerage dealer said the launch of the new FTSE
indices is not expected to provide any support to sentiment at the moment.
"We don't foresee the launch of the new FTSE indices to have an immediate
positive effect on invesors' sentiment. In fact many retail investors were
not aware of the FTSE indices launch," the dealer said.
Among blue chips, Tenaga, Telekom Malaysia, and Maybank were flat at 9.15
rgt, 9.00 and 10.60, respectively.
Genting was down 0.50 rgt at 23.20 rgt and British American Tobacco lost
0.50 rgt to 38.50 rgt.
AEON gained 0.30 rgt to 6.10 rgt and UDA Holdings Bhd was down 0.29 rgt
at 2.34 rgt.
At the close, the three-month interbank rates were quoted at 3.90/3.92
and the overnight rate was quoted at 3.43/45.

For the CPO market, price was down 3 point to 1465 after reaching at high of 1478, for tomorow we are forth seeing more selling pressure of CPO... target price 1455...

For KLOFF , we are still negative for the momont and for tomorow we expectrd it to trade lower to 885 point


Regard

Anthony Wong
012-3116806