Kuala Lumpur shares close higher -UPDATE 30/11/2006
- Share prices closed higher with mining and
construction stocks contributing the bulk of the gains, dealers said.
Foreign investors built up positions in key blue chips in a market
currently seeing fresh investment inflows after lagging behind its regional
peers, they added.
The Kuala Lumpur Composite Index added 16.06 points or 1.51 pct to 1,080.
66, off a high of 1,086.37 points.
The FTSE Bursa Malaysia 30-large cap index gained 115.12 points or 1.68
pct to 6,950.39 and the second board index rose 1.00 point or 1.1 pct to 91.
56.
The mining sector sub-index was up 19.82 points or 4.19 pct at 493.39 and
the construction sector sub-index was 6.17 points or 3.23 pct higher,
finishing the day at 196.38.
Gainers outnumbered losers 593 to 264, with 297 stocks unchanged and 164
counters untraded. Volume was 1.59 bln shares valued at 2.77 bln rgt.
Cheah King Yoong, head of research at SJ Securities, attributed the
strong gains to an upward revision of the US GDP figures.
''The market perception is that the US economy is not slowing down after
all, and that it is still strong and resilient, and that provided the spark
today,'' the analyst said.
Teoh Kok Lin, managing director of Singular Asset Management, said the
Malaysian market is now back on the radar of foreign fund managers after
lagging behind its regional peers over the past two to three years.
"The local bourse is playing catch-up. In the short term, the equity
market will continue to be liquidity- driven," the fund manager said.
Among index heavyweights, Telekom Malaysia rose 0.30 rgt or 3.24 pct to 9.
55, Tenaga gained 0.10 rgt or 0.92 pct to 11.00 and Maybank was up 0.20 rgt
or 1.75 pct to 11.60.
Genting Bhd was higher following a report that a company unit has been
shortlisted in Malaysia's first open tender to build an independent power
plant in Sabah. The Malaysian conglomerate earlier had said another unit --
Genting Oil Natuna Pte -- had discovered oil at its two offshore exploration
wells in Indonesia. Genting Bhd was up 0.50 rgt or 1.74 pct at 29.25.
Media Prima was sharply higher after saying third quarter to September
earnings rose by 48 pct year-on-year to 27.99 mln rgt. The stock added 0.15
rgt or 5.93 pct to 2.68.
JPMorgan said in a note to clients the media group's results were within
its expected range and it is keeping its "overweight" call on the stock with
a target price pegged at 3.00 rgt.
Sunway City Bhd was higher on a report the company expects a major
earnings contribution from unbilled sales, rising 0.14 rgt or 7.37 pct to 2.
04.
Builders Gamuda and IJM were both higher, with Gamuda gaining 0.26 rgt or
5.63 pct to 4.88 and IJM up 0.25 rgt or 3.52 pct at 7.35.
"Contractors are starting to see new contracts flowing ... now," said
Teoh of Singular, adding that this had been another major factor contributing
to current bullish sentiment.
Dealers said lower liner KBES was down sharply on Bursa Malaysia's query
asking the company to explain the recent surge in its share price and trading
volume. KBES fell 0.035 rgt or 4.22 pct to 0.795.
MBF Corp lost 0.04 rgt or 19.05 pct to 0.17 after Bursa Malaysia rejected
its application to exit from the list of financially troubled companies in
the PN17 category.

For tomorrow...market is very bullish...near term target 1100 points...

For CPO Market...over bough may lead to correction to 1800 levels...

STOCK TO WATCH

7277 DIALOG CL 0.70 5050 RUBHD CL 1.50 0079 CWORK CL 0.23

7205 COCOLND CL 0.70 0135 SCN CL 1.20 0086 YGL CL 0.90

Kuala Lumpur shares close higher led by PNB-linked plantation stocks - UPDATE 29/11/2006
- Share prices closed higher led by
PNB-controlled plantation firms Sime Darby, Kumpulan Guthrie and Golden Hope
as merger developments attracted local and foreign interest, dealers said.
The Kuala Lumpur Composite Index (KLCI) gained 7.37 points or 0.70 pct to
1,064.60.
The FTSE Bursa Malaysia 30-large cap index advanced 52.04 points or 0.77
pct at 6,835.27 and the second board index was up 0.62 point or 0.69 pct at
90.56.
Gainers outnumbered losers 528 to 297, with 333 stocks unchanged and 161
counters untraded. Volume was 977.36 mln shares valued at 1.7 bln rgt.
SBB Securities senior investment analyst Ng Jun Sheng said investors were
buying on the dip after yesterday's mild correction.
The market was "very choppy but well supported," he added.
"The market is flush with liquidity and if the external environment
remains stable we should see more upside, (the KLCI) may test the 1,200-point
level next year," the analyst said.
Momentum has been strong, but in order to stage a healthier and more
sustainable uptrend, the market needs to see a more meaningful correction,
dealers said.
Utusan Melayu and New Straits Times Press (NSTP) were both higher after
media reports that the two firms may merge to create the country's largest
media group. Utusan Melayu rose 0.23 rgt or 17.04 pct to 1.58 and NSTP was up
0.25 rgt or 10.25 pct at 2.69.
Media Prima, the major shareholder of NSTP, was also sharply higher,
rising 0.06 rgt or 2.43 pct to 2.53.
Malaysia Airlines was also stronger after reporting its first profit
since it launched its business turnaround plan in February, rising 0.08 rgt
or 1.86 pct at 4.38.
JPMorgan in a note to clients said it believes the national carrier is on
target to beat its 2007 forecast of 1.1 bln rgt of improvements. JPMorgan has
an "overweight" call on Malaysia Airlines, with a target price of 7.00 rgt.
Naluri was lower on weaker third quarter results despite Atlan's offer to
take the company private at 0.75 rgt per share. The stock retreated 0.015 rgt
or 1.56 pct at 0.695.
The company yesterday said its net profit for the third quarter fell to 1.
55 mln rgt from 41.91 mln a year earlier, in the absence of a one-time
exceptional gain which had boosted the comparative figure.
Dutch Lady Milk advanced after saying its third quarter to September net
profit jumped 72 pct to 13.02 mln rgt from 7.57 mln a year earlier. The stock
was up 0.70 rgt or 5.98 pct at 12.40.
CIMB Research in a note said it expects Dutch Lady to deliver total
returns of at least 16 pct, consisting of 11 pct capital appreciation and 5
pct dividend yield. The research house has raised its target price for Dutch
Lady to 13 rgt from 11.80 rgt.
Car dealer Oriental Holdings climbed after reporting strong results for
the third quarter to September, gaining 0.26 rgt or 6.10 pct to 4.52.
Stainless steel fasteners maker Tong Herr Resources was also higher on
improved quarterly results, analysts said. It rose 0.28 rgt or 7.53 pct to 4.
00.
The company said its third quarter to September net profit tripled to 20.
71 mln rgt from 4.88 mln rgt a year earlier.
Hexagon was sharply higher after saying it has secured a visual products
contract worth some 500 mln rgt from a global oil major. The stock was up 0.
32 rgt or 7.17 pct at 4.78.

For tomorrow...market expected to move higher...

For CPO Market...correction toward 1800 levels...

STOCK TO WATCH

7277 DIALOG CL 0.60 0669 IPOWER CL 0.85 8311 MITHRIL CL 0.13

9202 MAXTRAL CL 0.35 0079 CWORKS CL 0.20

Kuala Lumpur shares close broadly lower on extended profit taking - UPDATE 28/11/2006
- Share prices closed broadly lower on extended
profit-taking, coupled with waning interest in the market as investors
refused to take any significant positions ahead of the emergence of fresh
leads,dealers said.
At the close, the Kuala Lumpur composite index (KLCI) fell 11.06 points
or 1.04 pct to 1,057.23, off the day's low of 1,056.72.
The FTSE Bursa Malaysia 30-large cap index lost 80.26 points to 6,783.23
and the second board index eased 0.90 points to 89.94.
Losers outnumbered gainers 682 to 194, with 254 stocks unchanged and 194
untraded.
Trading volume was 1.04 bln shares valued at 1.54 bln rgt.
"Selling pressure gained momentum in the afternoon session on concerns
that Wall Street could dip further," a local brokerage dealer said.
"It's like a chain reaction, investors jumped on the bandwagon when the
market surged and now, when it falls, they seem to be selling briskly," he
added.
He said market sentiment is expected to remain cautious partly due to the
steep fall today and investors' worries that the market has reached its
peak.
"Immediate support remains at 1,051, with a stronger support platform
seen at 1,040. In the broader market, expect call warrants on blue chips to
see (greater) downside volatility after enjoying sharp rallies recently," TA
said.
"However, we remain bullish on plantation stocks, given the strong rally
on crude palm oil (CPO) futures prices towards the 2,000 rgt per ton level,
which should ensure outperformance. Hence, fundamentally sound plantation
counters such as Asiatic and IJM Plantation should extend (gains) after
staging bullish breakouts to record highs yesterday," it added
Among blue chips, Genting dropped 0.75 rgt to 28.50, Resorts World lost 0.
50 rgt to 13.00 and Bursa Malaysia eased 0.35 rgt to 7.15.
Lingkaran Trans Kota Holdings rose 0.10 rgt to 3.00, on reports the
government has approved toll hikes for five highways.
Kinsteel was sharply higher by 0.22 rgt or 18.64 pct at 1.40, after
posting improved third-quarter net profit following the acquisition of
Perwaja Steel Sdn Bhd and Gurun plants in Kedah.
CB Industrial Product Holdings was flat at 4.30 rgt, after profit-taking
erased earlier gains on news that its unit Modipalm Engineering has won a
palm oil mill construction contract worth 26.12 mln rgt.

For today market...tomorrow may continued to correction...

For CPO Market...correction continued to occur...

STOCK TO WATCH

8869 PMETAL CL 0.45 7205 COCOLND CL 0.65 8214 CHASE CL 0.12

0127 JHM CL 0.55 8311 MITHRIL CL 0.13

Kuala Lumpur shares close higher on mergers; profit-taking caps gains - UPDATE 27/11/2006
- Share prices closed higher, with merger and
acquisition news in the gaming, banking and plantation sectors helping to
boost the key index, although mild profit-taking capped the gains, dealers
said.
At the close, the Kuala Lumpur composite index (KLCI) gained 7.86 points
or 0.75 pct to 1,068.29, little changed from the 1,068.80 registered at the
midday break.
The FTSE Bursa Malaysia 30-large cap index gained 49.49 points to 6,863
and the second board index rose 0.10 points to 90.84.
Gainers outnumbered losers 482 to 416, with 266 stocks unchanged and 161
untraded.
Trading volume was 1.39 bln shares valued at 1.80 bln rgt.
''There was some mild profit-taking but that's normal,'' said Lim Chee
Seng, head of research at RHB Research, adding that the market is still very
much trending upwards.
Lim of RHB said the M&A news regarding AMMB, Multi-Purpose Holdings and
the plantation mega merger had boosted the market.
At the close, these merger-related stocks were all higher.
AMMB was up 0.15 rgt or 5.02 pct at 3.14 and Magnum 4D gained 0.01 rgt to
2.94.
As for plantation stocks, IOI Corp was up 0.40 rgt or 2.15 pct at 19.00,
Kuala Lumpur Kepong gained 0.20 rgt to 13.80 and United Plantations increased
0.15 to 9.15 on the back of the M&A activities in the sector.
Investment bank CIMB has proposed the merger of Sime Darby, Kumpulan
Guthrie and Golden Hope Plantations via special purpose vehicle to create the
world's largest listed palm oil business, worth 31.4 bln rgt.
Meanwhile, losses in blue chips such like Genting and some timber stocks
offset the index's gains.
Genting lost 0.75 rgt or 2.5 pct to 29.25, while timber stocks TA Ann
lost 0.25 rgt or 2.78 pct to 8.75 and Lingui lost 0.13 rgt or 7.30 pct to 1.
65.
Among heavyweights, Tenaga and Telekom Malaysia were both flat at 10.80
rgt and 9.45 respectively, while Maybank lost 0.10 rgt to 11.40.
Elsewhere, Lion Diversified Holdings was flat at 6.15 rgt, after
profit-taking erased gains in the morning session following the company's
strong first-quarter results.

For tomorrow...market may ake profit for a higher ground...

For CPO Market...correction must occur...

Kuala Lumpur shares close at new 9-yr high on general optimism - UPDATE 24/11/2006
- Share prices closed at a fresh nine-year high
on strong buying interest in index-heavyweights on growing optimism about the
market's medium-term prospects, after the government released still robust
third-quarter GDP data despite a slight sequential slowdown, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed up 13.92 points or 1.33
pct at 1,060.43, beating a nine-year high of 1,057 recorded on July 8, 1997.
In the days prior to July 8, 1997, the KLCI was trading at around 1,200
points.
Dealers said the government's report of 5.8 pct growth in gross domestic
product for the third quarter was lower than the revised 6.2 pct expansion
recorded in the second quarter, but it remains better than most people had
expected, with the growth outlook for the whole year of above 5.8 pct seen as
very encouraging.
A slew of strong corporate results reported yesterday provided additional
support, they said.
They added strong follow-through interest from both local and foreign
funds in the afternoon spurred active buying of lower-liners and speculative
counters by retail investors.
The FTSE Bursa Malaysia 30-large cap index gained 113.36 points to 6,814,
while the second board index dropped 0.38 of a point to 90.74.
Gainers outnumbered losers 590 to 278, with 280 stocks unchanged and 175
untraded.
Trading volume was 1.33 bln shares valued at 1.66 bln rgt.
Dealers said buying interest is expected to be sustained for at least the
early part of next week.
"Everybody is abuzz with talk of the market's potential for the
near-to-medium term, as seen from the rising trading volumes," a local
brokerage dealer said.
"It is hard for an investor not to jump into the bandwagon and buy into
the market as the market continues to climb steadly and strongly. This is the
general feeling among investors at the moment, I believe," he added.
Dealers said the better-than-expected GDP figures in the third quarter to
September have helped boost investors' perception that the Malaysian economy
remains resilent and robust.
Among blue chips, Telekom Malaysia rose 0.45 rgt to 9.45, Dutch lady
Milk Industries gained 0.50 rgt to 11.50, and Bursa Malaysia advanced 0.30
rgt to 7.25.
Resorts World Bhd was up 0.80 or 6.35 pct at 13.40 after reporting a 37.6
pct rise in its third-quarter net profit.
Proton Holdings edged up 0.20 rgt to 5.80 on expectations that the
government will decide on a foreign partner for the national carmaker soon.
Shell Refining Co (Malaya) fell 0.10 rgt to 10.30 after reporting a sharp
fall in third-quarter net profit.
Genting rose 2.00 rgt or 7.14 pct to 30.00 on improved third-quarter
results.
PLUS Expressways firmed 0.03 rgt to 2.94 after posting improved results
for the third quarter to September.

For next week...market strong and move toward 1100 points...

For CPO Market...correciton must occur...

STOCK TO WATCH

2417WA E&O-WA CL 0.35 2747 JAVA CL 1.15 1228 MBFCORP CL 0.15

1236 MBFHLDG CL 0.40 7104 JOTECH CL 1.60 3549 OPUS CL 1.10

7277 DIALOG CL 0.60 0069 IPOWER CL 0.85 0079 CWORK CL 0.16

3859 MPHB CL 0.90

Kuala Lumpur shares close mixed ahead of GDP data - UPDATE 23/11/2006
- Share prices closed the day mixed, with the
gains capped by profit-taking in lower-liners and select blue chips, dealers
said.
Investors were reluctant to take significant positions due to caution
about third-quarter gross domestic product (GDP) data, which the government
released shortly after the market close, they said.
The Kuala Lumpur Composite Index (KLCI) was up 2.7 pts or 0.25 pct at 1,
046.51.
The FTSE Bursa Malaysia 30-large cap index gained 18.95 points to 6,700.
64, while the second board index lost 0.18 of a point to 90.36.
Losers outnumbered gainers 471 to 375, with 304 stocks unchanged and 175
untraded.
Trading volume was 1.04 bln shares valued at 1.26 bln rgt.
''The market had a mixed performance today on mild profit-taking.
Investors locked in gains, especially in select blue chips and plantation
counters,'' said Cheah King Yoong, head of research at SJ Securities.
He said selling of plantation stocks had little to do with reports of a
super merger involving three of Malaysia's largest plantation companies --
Golden Hope Plantations, Sime Darby and Kumpulan Guthrie, which had suspended
trade in their shares.
Genting dropped 0.50 rgt or 1.79 pct to 27.50, IOI Corp lost 0.20 rgt or
1.06 pct to 18.70 while PPB Oils shed 0.25 rgt or 2.56 pct to 9.50.
Among the heavyweights, Tenaga and Maybank were flat at 10.80 rgt and 11.
20, respectively, while TM gained 0.05 rgt to 9.05.
Elsewhere, Computer Systems Advisers jumped 0.14 rgt or 6.9 pct to 2.17
after posting a 68 pct rise in its net profit for the second quarter to
September.
Maxis Communications rose 0.55 rgt or 5.85 pct to 9.95 after its
third-quarter net profit came in better than expected on strong net
subscriber growth.
Malaysian Oxygen advanced 0.30 rgt or 2.42 pct to 12.70 after it reported
a 41.8 pct rise in fourth quarter net profit and a higher dividend pay-out.

For tomorrow...market still very strong toward 1100 points...

For CPO Market...correction toward 1800 levels...

STOCK TO WATCH

8869 PMETAL CL 0.50 7277 DIALOG CL 0.60 0076 CAROTEC CL 0.80

5112 THPLANT CL 2.10 3859 MPHB CL 0.90 2747 JAVA CL 1.00

3379 INSAS CL 0.35 6139 TAKAFUL CL 1.40

Kuala Lumpur shares close higher on anticipation of steady Oct inflation
-UPDATE 22/11/2006
- Share prices closed higher as investors took
positions for the government's announcement of a steady inflation rate for
October, which came in as expected at the end of the day's trade, dealers
said.
Market anticipation of stronger loan growth, as well as the central
bank's more relaxed rules on mergers-and-acquisitions in the banking industry
also helped boost buying sentiment, they added.
The Kuala Lumpur Composite Index (KLCI) was up 7.65 points or 0.73 pct at
1,043.81.
The FTSE Bursa Malaysia 30-large cap index gained 46.79 points to 6,681.
69, while the second board index edged up 0.86 of a point to 90.54.
Gainers outnumbered losers 540 to 334, with 286 stocks unchanged and 165
untraded.
Trading volume was 1.31 bln shares valued at 1.58 bln rgt.
''As expected, the market continued to be bullish in afternoon trade in
anticipation of favorable inflation and interest rates,'' Cheah King Yoong,
head of research at SJ Securities, said.
''The market has been expecting inflation to be stable with any increases
to be marginal, and also it does not see any change in interest rates any
time soon,'' he added.
The statistics department said in a statement released as the market was
closing the consumer price index (CPI) in October rose 3.1 pct year-on-year
but was unchanged from the previous month.
In September, the CPI was up by 3.3 pct year-on-year.
Eon Capital was up 0.35 rgt or 5.69 pct at 6.50, HL Bank added 0.054 rgt
to 5.45 and Public Bank firmed 0.05 rgt to 7.20.
RHB Capital was flat at 1.50 on profit-taking after gaining in morning
trade.
Select blue chips such as Genting, Proton and Maxis also helped boost the
market.
Genting jumped 1.00 rgt or 3.7 pct to 28.00, Proton gained 0.20 rgt or 3.
6 pct to 5.75 while Maxis added 0.40 rgt or 3.03 pct to 13.60.
Elsewhere, Marble supplier Gefung Holdings Bhd closed sharply higher on
its first day of trade on the second board of Bursa Malaysia, compared to its
reference price of 1.00 rgt, dealers said.
Gefung was up 0.75 rgt or 75 pct at 1.75.
Engineering and construction group Ranhill Bhd surged after net profit
for the first quarter to September rose 205 pct year-on-year. The stock
closed up 0.08 rgt or 6.96 pct at 1.23..
The company posted a net profit of 39.83 mln rgt for the first quarter,
compared to 13.05 mln rgt a year earlier.

For tomorrow...market very strong...target 1100 points near term...

For CPO Market...market must correct to 1800 levels...

STOCK TO WATCH

7225 PA CL 1.20 0042 MOBIF CL 0.50 0128 FRONTKN CL 0.80

0069 I-POWER CL 0.85 0086 YGL CL 1.00 4235 LIONIND CL 0.90

5568 APB CL 1.20 7120 ACOSTEL CL 0.90 1171 MBSB CL 1.00

5112 THPLANT CL 2.00 1503 GUOCO CL 0.80 6139 TAKAFUL CL 1.30

3158 YNHPROP CL 1.40

Kuala Lumpur shares close firmer on renewed fund interest in plantations
-UPDATE 21/11/2006
- Share prices closed slightly higher as
plantation stocks attracted fresh buying interest from local funds after a
surge in crude palm oil prices boosted the companies' earnings prospects,
dealers said.
Rising timber prices also sustained optimism for the timber industry and
supported their stocks, with lower-liners and speculative counters tagging
along, they said.
Yesterday, February CPO contracts closed above the 1,800 rgt level, or at
1,864 rgt per metric ton.
Dealers cautioned, however, the market's direction has not been a
decisive upturn, though the index shows a firmer bias, with profit-taking
likely to be more pronounced tomorrow.
The Kuala Lumpur Composite Index (KLCI) closed up 2.64 points or 0.26 pct
at 1,036.16, off an intraday high of 1,037.22 and a low of 1,033.60.
The FTSE Bursa Malaysia 30-large cap index gained 16.38 points to 6,634.
90, while the second board index rose 1.04 points to 89.68.
The plantation sub-index jumped 94.59 pts or 2.34 pct to 4,136.92, while
the mining sector firmed 4.41 points or 0.96 pct to 462.56.
Gainers outnumbered losers 521 to 309, with 305 stocks unchanged and 186
untraded.
Trading volume was heavy at 990.28 mln shares valued at 1.25 bln rgt.
"It is quite difficult to call the immeadiate direction of the market as
it could go either way. However, any movement up or down in the next few days
I suspect would not be significant," a local brokerage dealer said.
He said follow-through buying in plantations and timber stocks is
expected to continue tomorrow, but gains would likely be capped by
profit-taking in counters like PPB Oil Palms Bhd, IOI Corp Bhd, and Jasa
Tiasa Holdings Bhd.
"Overall, my view is that at current levels, the market seems to be
pricey and further upside is Iimited ahead of fresh leads," he added.
Besides reacting positively to rising CPO and timber prices, investors
were also bullish on the construction sector due to the rollout of new
projects from the country's Ninth Malaysian Plan, as well as the robust
construction market in the Middle East, " EON Capital head of research Pong
Teng Siew said.
TA Securities, in a note clients, said a further downward correction will
be necessary before a fresh wave of buying could start.
"Hence, a further near-term downward bias toward the significant
resistance-turn-support level from the breakout point of 1,021 will be
anticipated before the KLCI stabilizes," it said.
"Going forward, once the overbought momentum has been neutralized by the
correction, the KLCI may then resume its uptrend to overcome the 1,051
resistance to higher upside targets of 1,078, 1,100 and then 1,138 points by
early next year," TA added.
Among blue chips, Bursa Malaysia was up 0.20 rgt at 6.80, Dutch Lady Milk
Industries rose 0.20 rgt to 11.20 and Malayan Banking was flat at 11.20.
Plantation stocks were broadly higher on strong buying interest after
crude palm oil futures breached 1,800 rgt yesterday.
PPB Oil Palms was up 0.45 rgt or 4.84 pct at 9.75, IOI Corp gained 0.40
rgt to 18.90, and United Plantations moved up 0.20 rgt to 8.60..
Timber stock Jaya Tiasa Holdings Bhd was sharply higher by 0.24 rgt or 7.
32 pct at 3.52 on continued investor interest in timber stocks.
Dealers said timber stocks have been rising sharply on rotational
interest after several timber firms reported strong earnings growth.
Media Prima Bhd jumped 0.14 rgt or 6.06 pct to 2.45 on the company's
move to enter the outdoor advertising business by acquiring a controlling
stake in Big Tree Sdn Bhd.
MTD Infraperdana Bhd fell 0.02 rg to 1.16 after the company said it has
no plans currently to return capital to shareholders, contrary to a report in
a local newspaper.

For tomorrow...market may resume it up trend...

For CPO Market...profit taking to 1800 levels...

STOCK TO WATCH

0117 SMRTECH CL 0.28 7120 ACOSTEC CL 0.90 0128 FRONTKN CL 0.80

7595 VINTAGE CL 0.60 4235 LIONIND CL 0.80

KUALA LUMPUR, 21/11/2006-- Share prices closed the day
sharply lower after profit-taking, especially on index heavyweights, continued
in afternoon trade and kept the benchmark index under pressure, dealers said.
Hardest hit were blue chips which posted significant gains from recent
rallies, they added.
The Kuala Lumpur Composite Index (KLCI) was down 7.27 points or 0.7 pct at
1,033.52, off an intraday high of 1,044.33 and a low of 1,029.41.
The FTSE Bursa Malaysia 30-large cap index fell 31.38 points to 6,618.52,
while the second board index slipped 0.38 of a point to 88.64.
Losers outnumbered gainers 581 to 319, with 247 stocks unchanged and 177
untraded.
Trading volume was 1.2 bln shares valued at 1.61 bln rgt.
''The market has overheated, and today it cooled off,'' Eon Capital's head
of research Pong Teng Siew said.
He cautioned that the market is bound to see more of this trend, which
should be more pronounced in coming sessions.
''There will more of such sharp corrections to come,'' he said, adding that
''investors locked in gains today, especially institutional investors, as they
needed to show results to their clients.''
However, he said the bulls have not run out of steam.
''This is not the end of the rally, there is still upside in the market, ''
Pong said, adding that market sentiment continues to be positive.
At the close, Proton Holdings Bhd yielded to profit-taking pressure
following gains made on reports that French car maker PSA Peugeot Citroen will
meet with Malaysian finance ministry officials over a possible bid for the
national car company.
Proton closed down 0.15 rgt at 5.55 after hitting a high of 5.95.
In the latest news, Malaysia's second finance minister Nor Mohamed Yakcop
said PSA Peugeot Citroen is keen to work jointly with ailing auto maker Proton
but Malaysia will ensure the pact does not hurt the local auto industry.
He recently said the government will arrive at a firm decision on Proton's
strategic partner in three months.
Bumiputra-Commerce Holdings Bhd was sharply higher after reporting a 48 pct
rise in its nine months net profit, dealers said.
It rose 0.20 rgt or 2.78 pct to 7.40.
Among the heavyweights, Tenaga was flat at 10.50 while both Maybank and
Telekom Malaysia joined the day's losers, contributing to the KLCI's slide.
Maybank shed 0.20 rgt or 1.75 pct to 11.20 while TM lost 0.20 rgt or 2.15
pct to 9.10.
Other blue chips which fell on profit-taking were Genting, Kuchai and
Tanjong.
Genting lost 0.25 rgt to 27.00; Kuchai shed 0.50 rgt to 52.00, while Tanjong
declined 0.40 rgt or 3.03 pct to 12.80.
Elsewhere, timber stocks were broadly higher on rotational interest after
several timber firms reported strong earnings growth.
WTK Holdings was sharply higher, rising 0.70 rgt or 9.21 pct to 8.30, after
saying its net profit for the third quarter to September rose 235 pct to 46.35
mln rgt.
Timber and plywood product maker Subur Tiasa Bhd gained 0.24 rgt or 4.84 pct
to 5.20.
Lingui Development, also a plywood product maker, advanced 0.27 rgt or 17.
76 pct to 1.79.
In its recently-released first quarter results, Lingui said its net profit
rose sharply to 86.14 mln rgt from 4.56 mln a year earlier.

For tomorrow...market may continue to correction...go get cheap stock...

For CPO Market...as limit-up 100 points today...good change to ready short the market...

STOCK TO WATCH

7277 DIALOG CL 0.60 0036 DVM CL 0.095 3565 KEURO CL 0.41

7225 PA CL 0.81 0128 FRONTKM CL 0.80 0127 JHM CL 0.45

2247 JAVA CL 1.00 7595 VINTAGE CL 0.40 0130 BCTECH CL 0.65

5063 ISOYDA CL 0.70

KUALA LUMPUR, 17/11/2006 -- Kuala Lumpur shares finished the
day mixed, with profit-taking limiting the index's gains on selected key blue
chips such as gaming group Genting and Resorts, dealers said.
The local bourse is now overbought based on technical readings and is likely
to be hit by further profit-taking next week, they added.
The Kuala Lumpur Composite Index was up 3.19 points or 0.31 pct at 1,040.
79. For the week, the KLCI was up 18.49 points or 1.81 pct.
The FTSE Bursa Malaysia 30-large cap index was up 5.63 points or 0.08 pct at
6,649.90, while the second board index was down 0.25 points or 0.28 pct at
89.02.
Losers outnumbered gainers 446 to 420, with 279 stocks unchanged and 173
untraded.
Trading volume was 1.21 bln shares valued at 1.39 bln rgt.
"We had seen some sideways trading today but volume remained strong -- there
had been a mixture of both local and foreign funds buying," said Tee Sze Chiah,
investment analyst at Mayban Securities.
Next week, trading is likely to turn relatively quiet after the
three-day-long UMNO (ruling United Malays National Organization) general
assembly ends today.
Nevertheless, the benchmark KLCI may test the 1,045-1,050 points resistance
level first, before shifting into a significant correction mode, he added.
Index heavyweights finished the day mixed, with Telekom Malaysia falling
0.25 rgt or 2.62 pct to 9.30 on profit-taking, Tenaga steady at 10.50 rgt and
Maybank up 0.10 rgt or 0.88 pct at 11.40.
Among blue chips, Genting posted the biggest gain, rising 1.25 rgt or 4. 81
pct to 27.25.
Resorts was up 0.20 rgt or 1.64 pct at 12.40.
Share prices have also been given a boost by strong corporate earnings
results, dealers said.
UMW Holdings was sharply higher, rising 0.35 rgt or 4.61 pct to 7.95, after
recording an 8 pct year-on-year rise in a third-quarter net profit to 88.61 mln
rgt. The group's net profit had been supported by its strong oil and gas segmen
amid softer Toyota car sales, analysts said.
Ornasteel Holdings rose 0.045 rgt or 5.96 pct to 0.80, after the company
turned in a profit for the third quarter to September from a loss a year
earlier.
Timber firm Lingui Development was sharply higher, gaining 0.33 rgt or 27.
73 pct to 1.52, after recording an improved net profit of 86.14 mln rgt for the
first quarter to September from 4.56 mln a year earlier. The stock was limit-up
in the morning session.
Shipping firm Alam Maritim was sharply higher, up 0.23 rgt or 8.88 pct at
2.80, after saying its third-quarter net profit came in at 9.61 mln rgt on sale
of 41.88 mln. Hwang-DBS Vickers Research said in a note it has raised its targe
price for Alam Maritim to 3.40 rgt, from 2.80.
Kossan Rubber Industries was sharply higher, rising 0.16 rgt or 3.70 pct to
4.48, after the company posted a 43 pct year-on-year rise in third-quarter net
profit to 10.89 mln rgt. CIMB Research said it has raised its target price for
Kossan to 6.10 rgt from 4.85, given the rubber maker's aggressive capacity
expansion.
Elsewhere, MTD Capital gained 0.04 rgt or 1.44 pct to 2.12 on speculation
that unit MTD Infraperdana is planning another capital repayment of about 350
mln rgt.
MTD Infraperdana was down 0.02 rgt or 1.63 pct at 1.21.
Sin Heng Chan was sharply higher, rising 0.055 rgt or 6.18 pct to 0.945,
after saying it plans to venture into the plantation sector by acquiring a palm
oil company for 30.6 mln rgt.

For next week...market expecet to keeping up...

For CPO Market...profit taking may come anytime...

STOCK TO WATCH

7277 DIALOG CL 0.52 7225 PA CL 1.10 3794 LMCEMNT CL 0.90

0033 FTEC CL 0.26 3158 YNHPROP CL 1.40 0135 SCN CL 1.10

0091 DAYA CL 0.25 0076 CAROTEC CL 0.85 5063 ISYODA CL 0.60

3549 OPUS CL 1.10 7229 FAVCO CL 0.60 2747 JAVA CL 1.00

0074 ONLINE CL 0.25

Kuala Lumpur shares close higher on rotational play in timber, oil & gas
-UPDATE 16/11/2006
- Share prices closed higher supported by
rotational interest in the oil and gas, as well as timber sectors, dealers
said.
Investor sentiment was also boosted by the central bank's relaxation of
rules governing merger and acquisition activities in the banking sector and
by recently-released strong corporate earnings results, they added.
The Kuala Lumpur Composite Index (KLCI) was up 9.22 points or 0.90 pct at
1,037.6.
The FTSE Bursa Malaysia 30-large cap was up 42.30 points or 0.64 pct at 6,
644.27 and the second board index was up 0.71 points or 0.80 pct at 89.27.
Gainers outnumbered losers 563 to 293, with 294 stocks unchanged and 169
untraded.
Trading volume was 1.21 bln shares valued at 1.55 bln rgt.
"Today's market was driven by rotational play in certain sectors, such as
the oil and gas firms. Market momentum remained strong. Based on our
technical analysis, the benchmark KLCI may touch 1,050 points soon," said a
fund manager from a local asset management firm.
"Our view is cautiously optimistic and we are still waiting for the
confirmation of a stronger rally before taking any aggressive positions," he
added.
Kaladher Govindan, head of research at TA Securities, said the local
bourse is now overbought and a minor correction could emerge soon.
On the central bank's decision to allow banks to hold multi-party
negotiations regarding the acquisition and disposal of their shares, Kaladher
said he expects smaller banks, such as AMMB and EON Capital to benefit from
the new ruling, as they will now have greater bargaining power.
"We believe there's more room for merger and acquisition plays over the
next 12 months," he added.
Among key blue chips, Maybank was down 0.10 rgt at 11.30, while Tenaga
gained 0.10 rgt to 10.50 and Telekom Malaysia was sharply higher at 9.55, up
0.45 rgt or 4.95 pct.
Banking group EON Capital was sharply higher at 6.35 rgt, up 0.35 rgt or
5.83 pct, and AMMB was up 0.14 rgt or 4.95 pct at 2.97.
Construction group IJM was sharply higher after posting improved
second-quarter net profit, with the stock rising 0.10 rgt or 1.15 pct to 6.75.
Cargo carrier Transmile group rose 0.20 rgt to 12.80, after the company
reported a sharp increase in its results for the third quarter to September.
TH Group was sharply lower by 0.005 rgt at 0.615, after its net loss for
the third quarter to September widened to 65.08 mln rgt from 7.62 mln.
Hume Industries was sharply higher, rising 0.20 rgt or 5.92 pct to 3.58,
on improved results for the first quarter to September.
Government-linked Guthrie Ropel gained 0.08 rgt to 4.12, after its net
profit for the third quarter to September tripled to 12.23 mln rgt.
Plantation group Highlands & Lowlands gained 0.08 rgt to 4.76 after its
third-quarter profit rose 39 pct to 37.5 mln rgt.
Timber firm Ta Ann and oil and gas company KNM Group were sharply higher
on rotational interest, with Ta Ann posting the biggest gain at 9.00 rgt,
rising 0.80 rgt or 9.76 pct, and KNM up 0.55 rgt or 7.75 pct at 7.65.
Palm oil producer IOI Corp was lower on profit-taking, with the stock
down 0.10 rgt at 18.40.
Kaladher of TA said valuations of major plantation stocks are now seen as
expensive.
"For exposure in the plantation sector, we have a "sell" call on
plantation stocks except Kuala Lumpur Kepong," the analyst said.
Kuala Lumpur Kepong finished the day up 0.30 rgt or 2.26 pct at 13.60.

For tomorrow...market is too strong...beware of profit taking on friday mood...

For CPO Market...profit taking to 1650 levels...

STOCK TO WATCH

7158CA SCOMI-CA CL 0.125 0076 CAROTEC CL 0.85 5099CA AIRASIA-CA CL 0.15

0036 DVM CL 0.10 7225 PA CL 0.90 0129 SRIDGE CL 0.20 1996 KRETAM CL 0.50

Kuala Lumpur shares close lower on profit-taking led by Maybank - UPDATE 15/11/2006
- Share prices closed lower on profit-taking led
by Maybank after it posted weaker-than-expected results for the first quarter
to September, dealers said.
Maybank yesterday said its net profit for the first quarter to September
fell 14.4 pct year-on-year to 576 mln rgt.
The Kuala Lumpur Composite Index (KLCI) was down 1.71 points or 0.17 pct
at 1,028.38.
The FTSE Bursa Malaysia 30-large cap index was down 27.84 points or 0.42
pct at 6,601.97 and the second board index was down 0.61 points or 0.68 pct
at 88.56.
Losers outnumbered gainers 536 to 320, with 287 stocks unchanged and 175
untraded.
Trading volume was 969.25 mln shares valued at 1.35 bln rgt.
"I think today's correction won't be a prolonged one. The market will
need to take a breather," said Kenny Yee, head of research at OSK Securities.
"Although the KLCI has surpassed our year-end target for 2006, we are
comfortable with the current level," the analyst said, adding that the KLCI
may touch 1,050 points before the end of the year.
Meanwhile Yee said the construction sector will be major gainer next year.
Despite a possible spillover from the construction sector, Yee said the
banking sector is likely to continue to come under pressure due to increased
foreign competition.
Share price catalysts for banking stocks are expected to be merger and
acquisition activities, he said.
Among key blue chips, Maybank was lower on its weaker-than-expected first
quarter to September results, falling 0.10 rgt or 0.87 pct to 11.40.
Tenaga fell 0.10 rgt or 0.95 pct to 10.40, while Telekom Malaysia gained
0.05 rgt or 0.55 pct to 9.10.
AMMB was down 0.07 rgt or 2.41 pct at 2.83. The bank's results for the
second quarter to September were little changed from a year earlier, but
analysts expect AMMB's share price to be supported by the potential emergence
of a strategic shareholder.
Uchi Technologies was sharply higher on improved third-quarter net
profit, rising 0.20 rgt or 6.29 pct to 3.38. The company said its
third-quarter net profit rose 18.5 pct year-on-year to 22.78 mln rgt.
DRB-Hicom fell 0.02 rgt or 1.32 pct to 1.49 after the company said it is
interested in taking a strategic stake of national auto maker Proton.
Proton lost 0.05 rgt or 0.89 pct to 5.55.
Mobile phone operator Digi was higher at 12.40, rising 0.30 rgt or 2.48
pct, after Communications Minister Lim Keng Yaik told reporters the
government may issue two WiMAX licenses next year. Digi was among 17
telecommunications firms bidding for WiMAX licenses earlier this year.
Rival Maxis gained 0.15 rgt or 1.66 pct to 9.20.
Lower-liners were broadly lower, with PK Resources falling 0.14 rgt or 23.
33 pct to 0.46 and Sugar Bun down 0.23 rgt or 10 pct at 2.07.

For tomorrow...market resume uptrend after correction...

For CPO Market...good profit to sell the market now...

STOCK TO WATCH

7185-CA SCOMI-CA CL 0.10 4804 TWSCORP CL 0.70 8893 MKLAND CL 0.4 7

0133 SANICHI CL 0.32 8389 METACORP CL 0.22 0116 FOCUS CL 0.32

0129 SRIDGE CL 0.20 8389 METACOR CL 0.26 7230 TOMEI CL 0.65

Kuala Lumpur shares close higher led by construction, banking stocks - UPDATE 14/11/2006
- Share prices closed higher led by construction
and banking stocks on expectations that these sectors will be the main
beneficiaries of the government's pump-priming, dealers said.
The Kuala Lumpur Composite Index (KLCI) was up 10.28 points or 1.01 pct
at 1,030.09.
The FTSE Bursa Malaysia 30-large cap index was up 70.94 points or 1.08
pct at 6,629.81 and the second board index was up 0.71 points or 0.80 pct at
89.17.
The construction sector sub-index was sharply higher at 183.45 points, up
4.47 points or 2.50 pct and the financial sector sub-index gained 99.24
points or 1.21 pct to 8,307.19.
Gainers outnumbered losers 604 to 240, with 292 stocks unchanged and 183
untraded.
Trading volume was 1.12 bln shares valued at 1.42 bln rgt.
"We expect the KLCI to trend higher as the local bourse is expected to
continue to play catch-up with its regional peers, which have risen
substantially over the past few months," said a technical analyst from a
local brokerage.
"From a technical point of view, we think the run (in the construction
sector) has just begun and we expect a bit more upside before it pushes back,
" the analyst said.
He said Gamuda is his top pick in the sector based on technical readings.
TA Securities senior chartist Stephen Soo said gains in construction
stocks were driven by expectations that the government will roll out more
projects under its five-year development plan.
Gamuda finished the day at 4.78 rgt, up 0.18 rgt or 3.91 pct.
Both of UEM Builders and UEM World were sharply higher on expectations
that the companies may secure more projects soon.
UEM Builders was up 0.20 rgt or 15.38 pct at 1.50. CIMB Research in a
note said it has a "technical buy" call on the stock.
UEM World gained 0.07 rgt or 4.24 pct to 1.72.
Among key blue chips, Tenaga was up 0.30 rgt or 2.94 pct at 10.50,
Telekom Malaysia gained 0.15 rgt or 1.69 pct to 9.05 and Maybank rose 0.10
rgt or 0.88 pct to 11.50.
Banking stocks were broadly higher driven by spill-over from the
construction sector, with Bumiputra Commerce rising 0.15 rgt or 2.05 pct to 7.
49, RHB Capital up 0.12 rgt or 3.85 pct at 3.24 and Public Bank up 0.10 rgt
or 1.43 pct at 7.10.
AMMB gained 0.03 rgt or 1.05 pct to 2.90 after parent Amcorp said Clear
Goal now owns a 92.66 pct stake in Amcorp and the shares will be de-listed as
a result of the takeover offer.
LFE Corp was sharply higher on contract hopes, rising 0.165 rgt or 55 pct
to 0.465.
The company said it has been awarded contracts worth 63.5 mln rgt for an
airport project in Doha. In addition, unit LFE International has signed a
preliminary agreement with Denmark's Northcom in connection with a 3-year
contract worth about 360 mln rgt, it said.
Mobile phone operator Maxis was higher on the outlook for its Indian
operations. The stock was up 0.20 rgt or 2.26 pct at 9.05.
Credit Suisse said in a note it has upgraded Maxis to an "outperform" and
has raised its price target to 11.20 rgt.
Ranhill Utilities was sharply higher after it announced its first-quarter
results, with the stock rising 0.24 rgt or 18.23 pct to 1.55.

For tomorrow...watch for profit taking...

For CPO Market...correction may go to 1600 levels...

STOCK TO WATCH

SCOMI-CA 7185CA CL 0.06 MOBIF 0042 CL 0.52 MTDINFR 9768 CL 1.10

ANTAH 2739 CL 0.18 JHM 0127 CL 0.55 SUGAR-WA 7637-WA CL 1.00

HOHUP 5169 CL 0.50

Regard

Anthony Wong

Kuala Lumpur shares close lower led by plantation, mining stocks - UPDATE
13/11/2006- Share prices closed lower on profit-taking with
plantation and mining stocks contributing the bulk of the losses, dealers
said.
"The uptrend seen last week may not be sustainable and further downside
is likely when the UMNO (ruling United Malays National Organization) assembly
ends on Friday," said a dealer from a local brokerage.
The Kuala Lumpur Composite Index (KLCI) was down 2.49 points or 0.24 pct
at 1,019.81.
The FTSE Bursa Malaysia 30-large cap index was down 16.32 points or 0.25
pct at 6,558.87, while the second board index was up 0.24 points or 0.27 pct
at 88.46 points.
The plantation sector sub-index was down 58.82 points or 1.46 pct at 3,
978.75 and the mining sector sub-index was down 6.61 points or 1.42 pct at
460.35.
Trading volume was 911.11 mln shares valued at 1.08 bln rgt.
Losers outnumbered gainers 450 to 371, with 296 stocks unchanged and 210
untraded.
"If this can be considered as a bull market, it is definitely a different
species from the one we had in the early 1990s," said a senior technical
analyst from a local brokerage.
He also said the local bourse is likely to take a breather for now, given
its near-term "overbought" technical reading.
Plantation stocks were sharply lower on profit-taking given their
demanding valuations, dealers said.
IOI Corp was down 0.30 rgt or 1.61 pct at 18.30, Kuala Lumpur Kepong fell
0.50 rgt or 3.65 pct to 13.20, Batu Kawan lost 0.60 rgt or 5.66 pct to 10.00
and Kuchai was down 0.75 rgt or 1.42 pct at 52.25.
Oil and gas firm KNM Group fell 0.10 rgt or 1.47 pct to 6.70 and Muhibbah
was down 0.06 rgt or 2.65 pct at 2.20.
Selective banking stocks were sharply higher on rotational interest, with
Hong Leong Bank rising 0.15 rgt or 2.80 pct to 5.50 and Bumiputra-Commerce up
0.20 rgt or 2.82 pct at 7.30.
Rashid Hussain was sharply higher on renewed merger and acquisition
speculation. The stock was up 0.11 rgt or 7.64 pct at 1.55.
Hwang-DBS Vickers Research said in a note it has upgraded the banking
sector to "overweight" from "neutral," citing undemanding valuations compared
with its regional counterparts.
PA Resources was sharply higher on speculative interest, finishing the
day up 0.255 rgt or 25.89 pct at 1.24 on volume of 19.82 mln shares.
Bursa Malaysia said it has asked PA Resources about the sharp rise in its
share price and trading volume. It has also advised investors to exercize
caution.
Sugar Bun gained 0.16 rgt or 8.79 pct to 1.98.
Construction group Gamuda was sharply higher after several brokerages,
including JPMorgan and CIMB research, raised their recommendations on the
stock. Gamuda was up 0.14 rgt or 3.14 pct at 4.60.
Among heavyweight stocks, Tenaga fell 0.30 rgt or 2.86 pct to 10.20,
Telekom Malaysia lost 0.15 rgt or 1.66 pct to 8.90, while Maybank was steady
at 11.40 rgt.

For tomorrow...market may continued correction to build a base...

For CPO Market...selling signal is on...toward 1600 levels...


STOCK TO WATCH

JHM 0127 CL 0.45 MBSB 1171 CL 0.75 MAYBANK-CB 1155CB CL 0.50

COCOLND 7205 CL 0.60 VINTAGE 7595 CL 0.55 DAYA 0091 CL 0.25

PA 7225 CL 0.90 KEURO 3565 CL 0.40 FRONTKN 0128 CL 0.60

Kuala Lumpur shares close higher on foreign fund interest in blue chips -
UPDATE 09/11/2006
Please write your own
byline and save in your preferences
KUALA LUMPUR (XFN-ASIA) - Share prices closed the day significantly
higher, with the key index driven by selective buying of blue chips by
foreign funds, dealers said.
They added that a technical rebound in plantation, timber and
construction counters also helped support the market.
The Kuala Lumpur Composite Index (KLCI) closed the day up 12.64 points or
1.23 pct at 1,019.93.
Turnover was 1.02 bln shares worth 1.48 bln rgt.
The FTSE Bursa Malaysia 30-large cap index rose 72.67 points to 6,562.56,
while the second board index gained 1.09 points to 88.12.
Gainers outnumbered losers 623 to 205, with 303 stocks unchanged and 192
untraded.
''Foreign funds have started buying into the local bourse, just recently,
and it's about time (they did),'' said Saifuddin Morat of Mayban Securities.
More foreign funds will enter the local bourse soon, based on previous
track record, he said.
''Indications are that they have spent only about 2-3 pct of their funds
on local stocks, and I expect more because previously they had spent about 15
pct of their allocated funds on the Malaysian market,'' he said.
He noted that the foreign funds have been buying up blue chips and ''that
is not surprising, as quite a few of our blue chips are undervalued, such as
Bumiputera-Commerce Holdings, Maybank, Tenaga and Proton.''
Proton Holdings Bhd was sharply higher on follow-through interest amid
market talk about a possible partnership between the company and Volkswagen
AG.

Later in the afternoon it was reported that Prime Minister Abdullah
Ahmad Badawi told reporters the government may allow Volkswagen to gain a
controlling stake in the ailing national carmaker.
Proton closed up 0.20 rgt or 3.85 pct at 5.40.
"It is an option we are considering at the moment. There is no approval
yet," the premier said.
"It all depends on detailed discussions. It is just an option," he said.
At the close, Maybank was up 0.20 rgt or 1.71 pct at 11.40, Tenaga jumped
0.40 rgt or 4 pct to 10.40, while Bumiputera Commerce added 0.15 rgt or 2.14
pct to 7.15.
Heavyweight Telekom Malaysia, another stock considered undervalued by
Saifuddin, gained 0.10 rgt or 1.11 pct at 9.10.
Meanwhile, plantation stocks were broadly higher, supported by the
continued uptrend in crude palm oil (CPO) futures, dealers said.
Kuala Lumpur Kepong gained 0.30 rgt or 2.27 pct to 13.50 rgt, IOI Corp
rose 0.30 rgt or 1.65 pct to 18.50 and PPB Oil was up 0.30 rgt or 3.43 pct at
9.05.
The benchmark January 2007 contract on Bursa Malaysia's derivatives
market was up 19 rgt at 1,693.
Investors have shown keen interest in plantation stocks, following the
surge in palm oil futures despite record high inventory, said Credit Suisse
First Boston in a note.
Construction counters also did well, supported by more positive news from
the construction sector, including the revival of the Kajang-Seremban Highway
project, dealers said.
IJM Corp Bhd was higher after the construction firm said it will team up
with Antah Holdings for the Kajang-Seremban highway.
IJM Corp was up 0.15 rgt or 2.4 pct at 6.40.
Another construction counter - Gamuda, also gained, adding 0.18 rgt or 4.
07 pct to 4.60.
Timber stocks Subur and Jaya Tiasa also rebounded on renewed speculative
interest.
Subur rose 0.82 rgt or 19.16 pct to 5.10 while Jaya Tiasa edged up 0.39
rgt or 13.04 pct to 3.38.

For tomorow...market may correct for a further up trend...

For CPO Market...correction to 1600 levels...

STOCK TO WATCH

DAYA 0091 CL 0.25 FRONTKN 0128 CL 0.60 KANNAL 0077 CL 0.52

REDTONE 0032 CL 0.45 PA 7225 CL 0.80 DISTECH 0063 CL 0.32

BCTECH 0130 CL 0.65

Regard

Anthony Wong

Kuala Lumpur shares close mixed as profit-taking pares gains; index up -
UPDATE 8/11/2006
- Share prices closed the day mixed, with gains
in plantations and select major index stocks pared by profit-taking, dealers
said.
The key weighted index, however, settled higher and remained above the 1,
000-point benchmark, driven mostly by gains in earlier trade on the back of
an extended rally on Wall Street overnight and a positive political outlook
ahead of the ruling party's general assembly, they said.
The Kuala Lumpur Composite Index (KLCI) closed up 4.01 points or 0.39 pct
at 1,007.29, off an intraday high of 1,011.20 hit in the morning session.
The FTSE Bursa Malaysia 30-large cap index gained 10.28 points to 6,489.
89, while the second board index lost 0.74 of a point to 87.03.
Losers outnumbered gainers 419 to 389, with 322 stocks unchanged and 193
untraded.
Trading volume was 984.13 mln shares valued at 1.27 bln rgt.
''The market performed to our expectations today,'' said Peter Lim,
deputy managing director of SJ Securities.
''We expected the market to pull back a little bit and finished with
about a five-point gain,'' he said.
''Going forward, we remain positive about the near-term outlook and
maintain our forecast that the market is on an upswing until the UMNO General
Assembly starts November 13,'' Lim said.
OSK Securities Research said its outlook on the market also ''remains
bullish in the immediate term, with the market marching toward major
technical resistance at the 1,021-point level, which is the peak of the year
2000 technical rally.''
''We expect to see profit-taking activity to kick in at the 1,021-point
level,'' OSK Research said in a note to clients.
At the close, plantation and timber stocks, as well as units of the Hong
Leong Group, were down on profit-taking following their recent gains.
From the plantation sector, IOI Corp lost 0.20 rgt or 1.09 pct to 18.20,
while PPB Oil dropped 0.20 rgt or 2.23 pct to 8.75 and Kulim shed 0.15 rgt or
2.78 pct to 5.25.
Timber stocks TA Ann was flat at 10.70, while Jaya Tiasa lost 0.05 rgt to
2.99.
Hong Leong Group units - HL Industries, HL Capital and Camerlin all fell
on profit-taking. HL Ind lost 0.10 rgt or 1.68 pct to 5.85, HL Capital lost 0.
12 rgt or 8.96 pct to 1.22 while Camerlin shed 0.03 rgt or 1.29 pct to 2.29.
Among the heavyweights, Tenaga was flat at 10.10, Telekom Malaysia added
0.05 rgt to 9.00 while Maybank was flat at 11.20.
Elsewhere, Sime Darby Bhd was sharply higher on its expansion plans in
the plantation, automotive and oil and gas businesses, dealers said. Sime
Darby was up 0.15 rgt or 2.38 pct at 6.45.
Titan Chemicals Corp Bhd was also sharply higher after the petrochemicals
and polymer producer reported a 154 pct jump in net profit for the third
quarter to 124 mln rgt.
Titan was up 0.10 rgt or 7.69 pct at 1.40.
Sugar Bun was down on profit-taking, sliding 0.19 rgt or 10.73 pct to 1.
58.

For tomorrow...market very strong...

For CPO Market...profit taking to 1600 levels...

Regard

Anthony Wong

KUALA LUMPUR 07/11/2006-- Share prices on Bursa Malaysia closed
higher on strong rally of the Dow Jones and regional bourses, a dealer said.
"The market saw a spillover effect of the strength in regional markets.
Foreign buying interests were seen in selected heavyweights," he said.
The benchmark Kuala Lumpur Composite Index (KLCI) rose 9.98 points to close
at 1,003.28 points, off a high of 1,005.06 at mid-afternoon. The KLCI had opene
the day 0.38 point higher at 993.68.
"The market is likely to see some upside potential this week although
profit-taking is expected after today's high," he said.
The Second Board Index increased by 1.10 points to 87.77, the Industrial
Index edged up 12.77 points to 2,096.23, the Finance Index appreciated 59.57
points to 8,004.26 and Mesdaq rose 2.06 points to 115.79.
Of the FTSE-BM Index series, the FBMEmas gained 54.62 points to 6,525.33 and
the FBM30, which comprises the top 30 companies by full market capitalisation,
increased by 69.13 points to 6,487.96.
Gainers led losers by 675 to 172, 259 counters were unchanged, 275 untraded
and 26 counters were suspended.
Volume stood at 875.152 million shares worth RM1.221 billion.
Leading the actives list was Karambunai Corp, which rose two sen to 16.5
sen. APL Industries was up 14 sen at 37.5 sen, BJ Corp gained one sen to 19.5
sen, AP Land was two sen higher at 40 sen and Fitters rose 1.5 sen 85.5 sen.
Among heavyweights, Maybank and Tenaga were unchanged at RM11.20 and RM10.00
respectively. Telekom was 10 sen higher at RM8.95, Tanjong plc appreciated 70
sen to RM12.90, Kuala Lumpur Kepong rose 60 sen to RM13.10 and Genting gained 5
sen to RM26.00. Turnover rose to 875.152 million shares valued at RM1.221 billion compared
with yesterday's 702.835 million shares valued at RM820.904 million.
Volume on the Main Board increased to 638.873 million shares worth RM1.077
billion from 433.303 million shares worth RM648.346 million on Monday.
Turnover on the Second Board, however, declined to 96.165 million shares
valued at RM74.226 million compared with 121.995 million shares worth RM104.862
million previously.
The Mesdaq Market's volume fell to 120.888 million shares worth RM61.244
million versus 138.634 million shares worth RM64.334 million previously.
Call warrants rose to 19.225 million shares worth RM8.352 million compared
with 8.901 million shares worth RM3.361 million on Monday.
Direct business deals increased to 90.108 million shares valued at RM72.292
million from 20.021 million shares valued at RM27.463 million before.
On a sectoral basis, consumer products accounted for 12.625 million shares
traded on the Main Board, industrial products 94.767 million, construction
45.761 million, trade/services 149.615 million, technology 6.449 million,
infrastructure 19.162 million, finance 72.646 million, hotels 4.098 million,
properties 146.519 million, plantation 18.739 million, mining 5,700 shares,
REITS 1.582 million, closed/fund 185,500, ETF 1,000 and loans 66.713 million. -

For tomorrow...market in bull run...target 1200 points...

For CPO Marke...down trend toward 1600 levels...

STOCK WASH

FRONTKN 0128 CL 0.60 AT 0072 CL 0.20 MBFHLDG 1236 CL 0.40

SMRTECH 0117 CL 0.35

Kuala Lumpur shares close lower on profit-taking after hitting 1000 pts -
UPDATE 6/11/2006
- Share prices closed lower as profit-taking
continued in the afternoon session in a market consolidating after recently
breaching a significant resistance level, dealers said.
However, investor interest in water-related counters and select
plantation stocks helped prevent a deeper slide, they added.
Some analysts remain positive about the market, saying the composite
index is likely to breach 1,000 points again this week after it broke through
the resistance level for the first time in six years last Friday, hitting 1,
000.06, they said.
The KLCI closed the day down 4.72 points or 0.42 pct at 993.30, off a
high of 999.72.
The FTSE Bursa Malaysia 30-large cap index lost 33.42 points to 6418.83,
while the second board index shed 1.65 points to 86.67.
Losers outnumbered gainers 494 to 281, with 315 stocks unchanged and 234
untraded.
Trading volume was 702.84 mln shares valued at 820.90 mln rgt.
''As expected, the market continued its profit-taking mode in afternoon
trade,'' Cheah King Yoong, head of research of SJ Securities, said.
He added that the market is likely to remain in a correction phase
tomorrow.
''Nevertheless, we maintain our view that the market will breach the
thousand-point mark again this week,'' Cheah said, adding that the bourse is
likely to pick up steam starting mid-week.
He said the benchmark KLCI is likely to trade in the range of 990 to 1,
005 points this week.
A dealer from Kenanga Securities said sentiment remained positive despite
the days' downturn.
''Regional markets are doing well, so the positive factor is still there,
'' he added.
At the close, water business-related stocks and select plantation stocks
helped support the market.
Water counters gained on last week's announcement by Energy, Water and
Communications Minister Lim Keng Yaik that 12 water service-based projects
worth 931 mln rgt are ready to be put up for tender.
Salcon was up 0.08 rgt or 5.52 pct at 1.53 while Puncak gained 0.04 rgt
or 1.38 pct to 2.94.
Plantation stocks Kuchai and United Plantations both gained; Kuchai was
up 0.25 rgt at 51.00 while United gained 0.10 rgt or 1.18 pct to 8.60.
Other plantation counters like IOI Corp fell on profit-taking after
posting significant gains last week.
IOI Corp shed 0.10 rgt to 18.00 while Kuala Lumpur Kepong (KLK) was flat
at 12.50.
The construction sector also came under profit-taking pressure, despite
the launch of the South Johor Economic Region plan.
Gamuda was flat at 4.02 while UEM World Bhd dropped 0.08 rgt or 4.82 pct
to 1.58.
Among the heavyweights, Tenaga, Telekom Malaysia (TM) and Maybank all
fell. Tenaga slipped 0.10 rgt to 10.00, TM lost 0.05 rgt to 8.85 and Maybank
shed 0.10 rgt to 11.20.
Genting contributed to the market's slide with a loss of 1.00 rgt or 3.77
pct at 25.50.
Sugar Bun Corp Bhd was sharply lower after it hit limit-down in the
morning session, as speculative traders chose to lock in earlier gains,
dealers said.
The stock was down 1.08 rgt or 36.7 pct at 1.86 on volume of 22.4 mln
shares.
Sugar-WA fell 0.99 rgt or 41.25 pct to 1.41.
Green Packet Bhd was down 0.02 rgt at 4.32, shedding early gains made on
the broadband networking solutions provider's announcement that its net
profit in the third quarter to September rose 163 pct year-on-year to 21.91
mln rgt.
Muhibbah Engineering (M) Bhd dropped 0.01 rgt to 2.29 rgt after
profit-taking wiped out earlier gains on media reports that its unit won
shipbuilding contracts worth about 142 mln rgt.

For tomorrow...market move up after profit taking today...

For CPO Market...correction to 1600 levels...

Regard

Anthony Wong

Kuala Lumpur shares close mixed; banks, plantations support key index - UPDATE 3/11/2006
- Share prices closed mixed, with the key index
firmer on continued interest in selected blue chips in the banking and
plantations sectors, dealers said.
They said profit-taking activity kept the market in check after the main
index hit the 1,000 level briefly during the day.
The Kuala Lumpur Composite Index closed up 2.77 points or 0.28 pct at 998.
02, after hitting a high of 1,000.06.
The FTSE Bursa Malaysia 30-large cap index gained 28.57 points to 6452.
25, while the second board index lost 0.23 point to 88.32
Losers outnumbered gainers 436 to 385, with 296 stocks unchanged and 207
counters untraded.
Trading volume was 792.43 mln shares valued at 1.11 bln rgt.
''As expected the market experienced resistance at the thousand-point
level,'' said N.Kaladher of TA Securities.
''In the near term, we remain positive due to various (government)
announcements to boost the economy ahead of the UMNO general assembly,
starting from November 13,'' he added.
UMNO refers to Malaysia's ruling party, the United Malays National
Organisation.
After the UMNO assembly the market may run out of catalysts and will
depend on the performance of the US market for leads, Kaladher said.
Maybank and Public Bank helped support the main index, with support also
coming from plantation stocks IOI Corp and Kuala Lumpur Kepong, dealers said.
Maybank was up 0.20 rgt or 1.8 pct at 11.30 and Public Bank gained 0.15
rgt or 2.19 pct to 7.00.
Bumiputera Commerce was down 0.05 rgt at 6.95 as investors opted to lock
in profits.
IOI Corp and Kuala Lumpur Kepong were both higher on follow-through
interest as investors remain bullish that rising crude palm oil prices will
boost the plantation companies' earnings.
IOI Corp was up 0.40 rgt or 2.26 pct at 18.10 while Kuala Lumpur Kepong
gained 0.50 rgt or 4.17 pct to 12.50.
Some construction and property counters benefited ahead of unveiling of
proposals for the South Johor Economic Region tomorrow.
IJM was up 0.05 rgt to 6.15, while property counter Mah Sing, which has a
significant presence in South Johor, was up 0.02 rgt at 2.22.
Among heavyweights, Tenaga was flat at 10.10 while Telekom Malaysia was
down 0.05 rgt to 8.90.
Elsewhere, Sime Engineering Services was higher on a report that it is
bidding for contracts worth up to four bln rgt, most of them in the Middle
East. The stock gained 0.02 rgt to 1.55.
MTD Capital gained 0.05 rgt or 2.48 pct to 2.07 following a media report
that it will likely sign a toll road project agreement in Indonesia by the
end of this month.
The three-month interbank rates were at 3.70/75, while the overnight
rates stood at 3.48/51.

For next week...market toward 1000 points...

For CPO market...down to 1600 levels...

Regard

Anthony Wong

KUALA LUMPUR-- Share prices on Bursa Malaysia closed 2/11/2006
higher today with the benchmark Kuala Lumpur Composite Index (KLCI) near a
seven-year high, led by strong gains on blue chips as well as plantation and
finance stocks, dealers said.
The local market was relatively steady despite the sharp decline on Wall
Street overnight, they said.
Local fund-buying support of index-linked counters pushed the index above
the 900-point resistance, closing 5.91 points higher at 995.25 after reaching a
high of 998.57 points. The KLCI had opened 0.19 of a point lower at 989.15.
The Second Board Index edged up 0.27 of a point to 88.55 and the Industrial
Index advanced 6.21 points to 2,086.22 but the Mesdaq Index fell 0.32 of a poin
to 114.78.
Of the FTSE-BM Index series, the FBMEmas increased 31.58 points to 6,472.32
and the FBM30, which comprised the top 30 companies by full market
capitalisation, went up by 41.43 points to 6,417.79.
Gainers beat losers by 434 to 354 while 303 counters were unchanged, 291
untraded and 25 others were suspended.
Trading was fairly active with a total of 880.100 million stocks valued at
RM1.090 billion transacted, up from 768.965 million shares worth RM867.792
million yesterday. -- MORE

BURSA-CLOSING 2 (Last) KUALA LUMPUR

Plantation and finance stocks were higher due to the rise in palm oil prices
and expectations that the banking sector will record better results this year,
dealer said.
"Investors' confidence in the local market has improved and thus the key
index is likely to surpass 1,000 points in coming days," he added.
Karambunai, which resumed trading today, eased 1.5 sen to 16 sen. It was top
of the actives list with 59.750 million shares done.
Among other actives, KBES added two sen to 56.5 sen and Tebrau dropped three
sen to 54 sen.
Pan Malaysian Industries (PMI) edged up 1.5 sen to 5.5 sen on news that
Malayan United Industries planned to buy Metrojaya from PMI for RM273 million.
Malayan United Industries rose 1.5 sen to 19 sen.
Of the plantation stocks, IOI Corporation was the top gainer, adding 50 sen
to RM17.70 while KL Kepong gained 20 sen to RM12.00 and Sime Darby climbed 10
sen to RM6.20.
Among the blue chips, Maybank was unchanged at RM11.10 while Telekom
Malaysia and Tenaga increased 15 sen each to RM8.95 and RM10.10 respectively.
Bumiputra-Commerce went up 15 sen to RM7.00.
PLUS, which planned to acquire a 55 percent stake in an Indonesian company
with a highway concession, fell one sen to RM2.95.
Volume on the Main Board rose to 621.658 million shares worth RM938.119
million compared with yesterday's 539.387 million shares worth RM726.323
million.
Turnover on the Second Board increased to 108.804 million shares worth
RM79.733 million versus 84.429 million shares worth RM68.766 million previously
The Mesdaq Market's volume, however, declined to 124.010 million shares
worth RM62.960 million from 132.748 million shares worth RM67.571 million.
The volume of call warrants widened to 25.628 million shares worth RM9.162
million from 12.401 million shares worth RM5.133 million.
Direct business deals rose to 35.092 million shares worth RM42.688 million
from 32.684 million shares worth RM38.305 million previously.
On a sectoral basis, consumer products accounted for 10.612 million shares
traded on the Main Board, industrial products 58.063 million, construction
42.833 million, trade/services 216.542 million, technology 4.526 million,
infrastructure 11.837 million, finance 60.797 million, hotels 3.275 million,
properties 147.155 million, plantation 15.845 million, mining 800, REITS
579,800, closed/fund 243,700, ETF nil and loans 49.349 millionto

For tomorrow...market higher 1000 points...

For CPO market...correction may down to 1600 levels...

Regard

Anthony Wong

Kuala Lumpur shares close higher on strong corporate earnings - UPDATE 1/11/2006
- Share prices closed higher as the market
digested news of strong corporate earnings and other significant developments
such as Pos Malaysia's cash distribution plans and MISC's move to acquire
additional tankers, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed up 1.04 points or 0.11 pct
at 989.34.
Pos Malaysia announced yesterday it plans to return 1.50 rgt per share in
cash to shareholders.
Investors also welcomed MISC's move to acquire four 107,500 DWT Aframax
tankers from Japan's Tsuneishi Corp for 260 mln usd.
"The market's undertone remains healthy but rangebound trading is likely
to continue in the immediate term," a trader from a local brokerage said.
The FTSE Bursa Malaysia 30-large cap index was down 11.88 pts or 0.19 pct
while the second board index was up 0.54 point or 0.62 pct at 88.28.
Gainers outnumbered losers 422 to 363, with 292 stocks unchanged while
245 counters were untraded.
Trading volume was 769.06 mln shares valued at 868.36 mln rgt.
"We expect the local bourse to continue to trade in a narrow range, while
digesting more incoming corporate earnings reports for the third quarter to
September," a trader from a local brokerage said.
Corporate earnings announced so far have been in line with investors'
expectations, said Choo Swee Kee, chief investment officer of TA Investment
Management.
The fund manager said that in the immediate term, the local bourse is
likely to follow the regional markets, but he added that he sees the KLCI
staying within its current range toward the end of the year.
Pos Malaysia was sharply higher after the company said it will return 1.
50 rgt per share in cash to shareholders. The stock was up 0.19 rgt or 3.83
pct at 5.15.
"After the capital distribution, we expect Pos Malaysia to show higher
return-on-equity on the back of its improved capital structure," said Annuar
Aziz of Credit Suisse First Boston in a research note.
However, the analyst said he has reduced his net profit estimates for Pos
Malaysia by 8-18 pct for financial years 2007 and 2008, mainly due to lower
interest income, after the cash distribution.
TA Ann and Malaysian Pacific Industries were both higher on improved
quarterly results, with TA Ann rising 0.50 rgt or 4.81 pct to 10.90 and
Malaysian Pacific Industries up 0.10 rgt or 1.01 at 10.00.
Bursa Malaysia was higher on its special dividend pay-out of 28 sen per
share. The stock was up 0.15 rgt at 6.10.
MISC gained 0.15 rgt or 1.71 pct, finishing the day at 8.90.
MISC remains a very well-managed liquefied natural gas (LNG) player, said
Edward Ong of Macquarie Research in a research note.
Among heaveweights, energy firm Tenaga was down 0.05 rgt or 0.50 pct at 9.
95 while Maybank was down 0.10 rgt or 0.89 pct at 11.10. Telekom Malaysia was
up 0.05 rgt or 0.57 pct at 8.80,

For tomorrow...market is very strong toward 1000 points...

For CPO correction toward 1600 levels...

Regard

Anthony Wong