Daily Stock Tip In KL

KUALA LUMPUR-- Share prices on Bursa Malaysia closed on 13/07/2006
easier amid concerns of another possible round of increase in local interest
rate this month, dealers said.
They said Bank Negara Malaysia (BNM) was likely to raise its key interest
rate by another 25 basis points to 3.75 percent at its monetary policy committe
meeting this July 28.
The 100-quality stock Composite Index declined 1.68 points to 926.55 today,
after opening at 928.46.
The Second Board Index went down 0.47 of a point to 94.14 and the Industrial
Index eased 6.43 points to 1,921.26.
The FTSE-BM Index series saw FBMEmas declining 14.09 points to 6,043.91
while the FBM30, which comprises the top 30 companies by full market
capitalisation, lost 3.67 points to 5,984.49.
Losers outnumbered gainers by 497 to 250, 284 counters were unchanged, 291
untraded and 33 suspended.
Volume decreased to 915.661 million shares worth RM1.201 billion compared
with 1.085 billion shares valued at RM1.169 billion yesterday.
The anticipation of an interest rate hike has been fuelled by concerns on
the persistent inflationary pressure.
It is understood that such a move would enable the country to reduce the
wide difference in the local and U.S. interest rates.
A dealer said the market was expected to remain on an easier trend tommorow
with the support level at 915 points and resistance at 930 points.
If there are some gains, they would be limited to profit taking activities
among selected lower liners and bluechips, particularly in the plantation and
industrial products sectors, he said.
Turnover on the Main Board today declined to 521.003 million shares worth
RM866.610 million shares from 682.736 million shares worth RM855.252 million
yesterday.
Volume on the Second Board also depreciated to 84.934 million shares worth
RM79.071 million from 180.822 million shares valued at RM171.831 million
previously.
Turnover on the Mesdaq Market, however increased to 301.505 million shares
worth RM252.314 million from 213.740 million shares valued at RM139.837 million
yesterday.
Direct business deals increased to 81.354 million shares valued at RM156.289
million from 12.502 million shares worth RM15.676 million.
Call warrants gained to 8.218 million shares valued at RM3.431 million
against 7.986 million shares valued at RM2.464 million yesterday.
Iris Corp led the actives list at RM1.37, up five sen, followed by Tebrau
Teguh, which rose 2.5 sen to 67 sen and Frontken Corp at 47 sen, gaining nine
sen.
Newly-listed Mesdaq counter JHM Consolidation rose 18 sen to 68 sen after it
opened at 61 sen, a premium of 11 sen over its offer price of 50 sen.
Among heavyweights, Maybank declined 20 sen to RM10.60, Tenaga remained flat
at RM9.20, MISC decreased 10 sen to RM7.85, while Telekom added five sen to
RM9.10.
Public Bank added five sen to RM6.45, Maxis was flat at RM8.60,
Bumiputra-Commerce and IOI Corp both added 10 sen to RM5.95 and RM15.30
respectively.
On a sectoral basis, consumer products accounted for 14.254 million shares
traded on the Main Board, industrial products 71.845 million, construction
20.527 million, trade/services 188.299 million, technology 6.543 million,
infrastructure 11.807 million, finance 61.950 million, hotels 1.202 million,
properties 101.339 million, plantation 6.940 million, mining 2,800 shares, REIT
967,100 shares, closed/fund 126,600 and loans 35.199 million.

For tomorrow...big wave down expected as weekend...short KLOFF...target 895 points near term

For CPO...market correction must take place...short term target 1475 points...

Regard

Anthony Wong