Monday, July 31, 2006

Market Down Trend May Began


Kuala Lumpur shares close firmer on proposed investments in Johor - UPDATE 31/07/2006
- Share prices closed slightly higher, helped by
news that foreign firms have evinced interest in investing a total of some 15
bln rgt in the Southern Johor Economic Region, dealers said.
They said the market undertone remains firm, with follow-through buying
expected tomorrow.
The Kuala Lumpur Composite Index (KLCI) ended the day up 1.13 points or 0.
12 pct at 935.85.
The second board index lost 0.10 points to 90.24. Total trading volume
was 492.46 mln shares valued at 626.46 mln rgt.
Gainers outnumbered losers 363 to 335, with 315 stocks unchanged and 304
counters untraded.
At the close, the ringgit was quoted at 3.6575/6625 to the
dollar.
"The news of large foreign firms interested in investing a large amount
in the Southern Johor Economic Region has definitely boosted market sentiment,
" said EON Capital head of research Pong Teng Siew.
Bernama news agency quoted Prime Minister Abdullah Ahmad Badawi as saying
that several large foreign firms are interested in setting up operations in
Johor, with proposed investments of about 15 bln rgt.
Pong said the news strengthened confidence in the government's
pump-priming measures to boost the economy through the ninth Malaysian plan
(9MP).
"The Johor economic region is expected to create one million new jobs and
business opportunities. The market has definitely something to cheer about
going forward," he added.
TA Securities said in a note to clients that while short-term indicators
suggest potential for profit-taking this week, the trend however points to
further upside in the medium term.
Investors should be looking to accumulate on dips blue chip stocks, which
look poised to move higher going forward, it said.
TA said the central bank's decision last Friday to leave interest rates
unchanged amid easing inflation indicators should provide support during
market dips.
Among key blue chips, BAT Malaysia closed up 0.25 rgt to 42.25, Anway
advanced 0.15 rgt to 6.40, and Kulim rose 0.10 rgt to 3.98.
Tenaga Nasional was flat at 9.15 rgt, Telekom Malaysia was steady at 9.
05, and Malayan Banking fell 0.20 rgt to 10.50.
Bumiputra-Commerce Holdings Bhd was up 0.15 rgt at 6.15 on expectations
the banking group will post a strong set of results for the second quarter to
June.
PPB Oil Palms Bhd was flat at 7.45 on profit-taking after gaining earlier
on its moves to produce biodiesel in Indonesia.
VADS Bhd was up 0.20 rgt at 4.46 after reporting stronger net profit for
the first half.
Kuala Lumpur Kepong Bhd was flat at 11.00 on profit-taking after gaining
earlier on stronger crude palm oil (CPO) prices and improved earnings outlook.


For tomorrow...we see market moving down...Target 900 points...

For CPO...We see more profit taking...near term 1600 points

Regard


Anthony Wong

Friday, July 28, 2006

Share Market Start To Turn Down Now


Kuala Lumpur shares close lower on caution ahead of rate decision - UPDATE 29/07/2006
- Share prices closed slightly lower on light
profit-taking in blue chips as investors trimmed their positions ahead of the
weekend and the central bank's announcement on interest rates, dealers said.
Banking stocks were mixed ahead of the central bank's rate decision.
After the market closed, the central bank said it has decided to leave key
interest rates unchanged.
The Kuala Lumpur Composite Index (KLCI) ended the day down 2.04 points or
0.22 pct at 934.72, ending the week up 10 points or 1.08 pct.
Plantation stocks provided limited market support, preventing a sharp
slide, with modest gains made on the back of higher crude palm oil prices in
the futures market, dealers said.
The second board index lost 0.40 point or 0.44 pct to 90.34.
Total trading volume was 539.66 mln shares valued at 689.36 mln rgt.
Losers outnumbered gainers 376 to 304, with 340 stocks unchanged and 298
counters untraded.
Among key blue chips, Telekom Malaysia lost 0.05 rgt or 0.55 pct to 9.05
but Maybank was steady at 10.70 rgt and Tenaga was flat at 9.15 rgt.
The financial sub-index ended down 3.13 points or 0.04 pct at 7490.51.
Bumiputra-Commerce was steady at 6.00 rgt and Hong Leong Bank was flat at
5.30 rgt but RHB Capital lost 0.01 rgt to 2.81 while AMMB was up 0.02 rgt at
2.52.
Chief investment officer and managing director of Singular Asset
Management Teoh Kok Lin said he does not expect to see the interest rate
decision having a major impact on the local equity market.
"We expect inflation to peak at around 4 pct for 2006 and 3 pct for the
next year, barring any unforeseen circumstances," he said.
He also said that in the short to medium-term, the local stock market is
expected to remain volatile due to the uncertain geopolitical situation.
Looking ahead to next week's trading, dealers said the central bank is
expected to release a detailed statement on Monday on its international
reserves position as of the end of June and the department of statistics will
release June trade figures on Friday.
In today's trading, casino operator Genting was down 0.35 rgt or 1.39 pct
at 24.90 while its associate company Resorts was sharply higher, rising 0.30
rgt or 2.65 pct to 11.60.
Palm oil producer IOI Corp gained 0.20 rgt to 16.40 while Asiatic was up 0.
04 rgt at 3.52 and Golden Hope was steady at 4.46 rgt.
British American Tobacco lost 0.50 rgt or 1.18 pct to 42.00, mobile phone
network operator Digi shed 0.30 or 2.40 pct to 12.20, and state-owned
shipping firm MISC Bhd lost 0.15 rgt or 1.86 pct to 7.90.
Malaysia Airlines gained 0.02 rgt to 2.80. The national airline said it
has won shareholder approval for a plan to take on board the profits and
losses of the operations of domestic routes from state-owned parent
Penerbangan Malaysia Bhd.
The airline said with this approval, it will be able to focus on
fund-raising and implement its business turnaround plan announced earlier
this year.
At the close, the ringgit was quoted at 3.6655/.6705 to the dollar,
compared with yesterday's closing quote of 3.6730/3.6780.

For next week...we can sure that the market going down trend...SHORT KLOFF...near term target 900 points...

For CPO market...we see profit taking next week after sharp gain today...SHORT CPO when reach 1635 points...

Regard


Anthony Wong

Thursday, July 27, 2006

Share Market Very Near Top


Kuala Lumpur shares close firmer, led by blue chips - UPDATE 27/07/2006
- Share prices closed slightly higher on
selective interest in blue chips, with profit-taking in plantation stocks
paring index gains, dealers said.
The market is expected to trade in a tight range in the next sessions as
investors await the central bank's decision on interest rates at its meeting
tomorrow -- the fifth this year.
The Kuala Lumpur Composite Index (KLCI) was up a modest 2.42 points at
936.76.
The second board index added 0.53 points to 90.74.
Total trading volume was 762.0 mln shares valued at 956.1 mln rgt, with
gainers outnumbering losers 416 to 282, while 320 issues were unchanged.
Dealers said there were renewed hopes that the central bank may delay any
rate hikes, but some analysts still saw a solid chance for some movement on
interest rates at the policy meeting tomorrow.
In a note to clients, Singapore-based DBS Group Research said it expects
the central bank to raise the overnight policy rate by 25 basis points to 3.
75 pct, saying the need to raise local rates is "compelling."
Domestic interest rates are still too low, with the overnight policy rate
having been negative in consumer price index-adjusted terms for most of the
period since May 2005, it added.
Blue chip British American Tobacco was up 0.50 rgt or 1.20 pct at 42.25
rgt, while mobile phone service provider Digi gained 0.20 or 1.65 pct to 12.
30 and gaming stock Genting rose 0.25 rgt or 1 pct to 25.25.
Among market heavyweights, Tenaga was down 0.05 or 0.54 pct at 9.15,
while Telekom Malaysia lost 0.05 or 0.55 pct to 9.05 and Maybank was steady
at 10.70.
Following recent sharp gains, major plantation stocks were hit by
profit-taking. IOI Corp fell 0.30 or 1.82 pct to 16.20 rgt, while Kuala
Lumpur Kepong lost 0.20 or 1.77 pct to 11.10, PPB Oil Palms shed 0.04 rgt or
0.96 pct to 4.14 and Asiatic was down 0.06 rgt or 1.69 pct at 3.48.
Elsewhere, an industry body in Malaysia said it has revised its forecast
for car and commercial vehicle sales to a drop of 6.0 pct this from an
earlier forecast of 2.5 pct growth. The downward revision reflected higher
fuel prices, rising interest rates and weak used car prices.
Malaysia's vehicle sales in the first half of 2006 fell 4.9 pct
year-on-year, the Malaysian Automotive Association said.
The association also said that the Perodua compact car had knocked
national car Proton out of the top spot in terms of market share during the
half.
"Perodua is making all the right moves now, I think their plans to
venture into overseas market are feasible, with a condition that their
capacities will be able to meet the demand," said an industry analyst.
Proton was steady despite the negative news, closing at 5.15 rgt. MBM
Resources, which along with Toyota of Japan makes the Perodua, was also
steady at 2.82 rgt while distributor and partner UMW was unchanged at 7.40.
Bursa Malaysia was up 0.15 rgt or 2.54 pct at 6.05 ahead of its second
quarter to June results. After the market closed it said second-quarter
profit rose to 32.2 mln rgt from 18.8 mln last yar. It also announced a
higher interim dividend of 12.5 sen per share.
At the close, the ringgit was quoted at 3.6730/3.6780 to the dollar.

For tomorrow...profit taking expectes...SHORT KLOFF...target 915 point...

For CPO...we see more up side after most recent profit taking...target 1600 points...

Regard


Anthony Wong

Wednesday, July 26, 2006

PROFIT TAKING IN SHARE MARKET


Kuala Lumpur shares close higher led by plantation stocks, blue chips
UPDATE 25/07/2006 - Share prices closed higher on follow-through
interest in plantation stocks and blue chips, dealers said.
They said the plantation sector has attracted interest from foreign and
local investors on hopes for biodiesel, which requires palm oil supplies.
The Kuala Lumpur Composite Index (KLCI) ended up 6.29 points or 0.68 pct
at 934.34.
The second board index was up 0.70 points or 0.78 pct at 90.21.
The plantation sub-index was up 11.64 points at 3,536.16.
Total trading volume was 825.33 mln shares valued at 856.86 mln rgt.
Gainers beat losers 404 to 290 with 338 stocks unchanged.
Chief investment officer at TA Investment Management Choo Swee Kee said
gains in plantation stocks were again driven by biodiesel hopes and higher
demand for palm oil.
Malaysia is one of the largest palm oil producers in the world and
investing in local palm oil producers is a good way of having exposure to the
plantation and crude palm oil (CPO) sector, he added.
Valuation-wise, the local equity market is not considered expensive when
compared with regional peers such as Hong Kong and Singapore, Choo said.
However, the problem is that the size of companies listed on the local
bourse is not on a par with those elsewhere in the region, he said.
On the sectoral outlook, Choo said he likes the oil and gas sector as
Malaysian firms are likely to continue to benefit from projects outsourced by
major oil firms.
Choo said construction stocks will continue to be driven by domestic
factors, but the outlook has improved somewhat compared with two years ago.
Projects announced by the government have so far mainly gone to smaller
construction firms, with the major construction companies still waiting for
larger projects to be unveiled, and hence the outlook for the sector remains
unclear for the time being, he said.
Among blue chips, Tenaga was up 0.10 rgt or 1.10 pct at 9.20 on volume of
3.14 mln shares, Telekom Malaysia gained 0.05 rgt or 0.55 pct to 9.10 on
volume of 1.86 mln shares and Maybank was up 0.20 rgt or 1.9 pct at 10.70 on
volume of 1.27 mln shares.
BAT gained 0.75 rgt or 1.83 pct to 41.75, Dutch Lady was up 0.50 rgt or 5.
62 pct at 9.40 and Genting was up 0.30 rgt or 1.21 pct at 25.00.
At the close, the gains by plantation stocks were offset by
profit-taking, with IOI Corp rising 0.10 rgt to 16.50, Kuala Lumpur Kepong
gaining 0.10 rgt to 11.30 and Asiatic up 0.04 rgt or 1.14 pct at 3.54.
Bursa Malaysia was sharply higher ahead of the release tomorrow of its
results for the second quarter to June, rising 0.15 rgt or 2.61 pct to 5.90
on volume of 1.65 mln shares.


For tomorrow...profit taking must take place...SHORT KLOFF...near term target 910 points...

For CPO ... market may continiued to rally after current day profit taking...target 1600 points in near term

Regard

Anthony Wong

Tuesday, July 25, 2006


KUALA LUMPUR 25/07/2006 -- Share prices on Bursa Malaysia ended
broadly higher today on bargain-hunting fuelled by overnight rally on Wall
Street, dealers said.
At the close, the 100-quality stock Kuala Lumpur Composite Index (KLCI)
surged 5.71 points
to 928.05 after opening 1.43 points higher at 923.77.
Dealers said gains on selected bluechips and lower liners, particularly in
plantation and construction stocks, helped the key index to stay higher
throughout the day.
Plantation stocks like IOI Corp gained 40 sen to RM16.40 and Kuala Lumpur
Kepong was up 30 sen to RM11.20.
"The rising prices of crude palm oil, which breached the RM1,500 per tonne
level after remaining stagnant at RM1,400 in the first six months of this year,
have also led to expectation of higher earnings for plantation companies by
year-end," a dealer said.
The Second Board Index increased 0.44 of a point to 89.51 points and the
Industrial Index rose 15.45 points to 1,911.86.
Of the FTSE-BM Index series, FBMEmas appreciated 46.84 points to 6,032.62
while the FBM30, which comprises the top 30 companies by full market
capitalisation, increased 53.06 points to 6,015.10.
Gainers outnumbered losers by 463 to 212 while 335 counters were unchanged
and 315 others untraded.
Volume stood at 683.182 million shares worth RM920.132 million.
Main board turnover surged to 363.55 million shares worth RM739.57 million
from 329.12 million shares valued at RM483.65 million yesterday.
Second board volume increased to 53.73 million shares valued at RM36.34
million compared with 51.99 million shares valued at RM41.23 million previously
Turnover on the Mesdaq market, advanced to 236.05 million shares worth
RM142.90 million against 168.44 million shares worth RM92.74 million on Monday.
Direct business deals, appreciated to 47.607 million shares worth RM60.038
million compared with 9.435 million shares valued at RM11.233 million
previously.
However, call warrants narrowed to 2.849 million shares worth RM1.325
million versus 8.156 million shares valued at RM2.644 million.
Among active counters, Iris Corp added 15.5 sen to 66.5 sen, Tebrau Teguh up
seven sen to 58 sen and Poly Tower Ventures increased five sen to 77.5 sen.
Heavyweights, Maybank and Tenaga both remained flat at RM10.50 and RM9.10
respectively, while Telekom gained five sen to RM9.05.
UEM World ended seven sen higher at RM1.68 while Golden Hope rose four sen
to RM4.42.
On a sectoral basis, consumer products accounted for 10.207 million shares
traded on the main board, industrial products 56.618 million, construction
24.589 million, trade/services 85.446 million, technology 3.786 million,
infrastructure 5.553 million, finance 32.612 million, hotels 7.695 million,
properties 67.565 million, plantation 34.095 million, mining 1,600 shares, REIT
196,000 shares, closed/fund 114,600 shares, ETF nil and loans 34.083 million. -

For tomorrow...SHORT KLOFF...target 900 points in near term...

For CPO market...range bound trade...between 1550 and 1600 points

Regard

Anthony Wong

Monday, July 24, 2006

Share Market To Face Profit Taking Tomorrow


Kuala Lumpur shares close lower in line with many regional markets - UPDATE 24/07/2006
- Share prices closed lower in line with falls
seen on many regional markets, dealers said.
They said that a local think-tank's reduced forecast for Malaysia's
economic growth added to investors' concerns that the current Middle East
conflict could send prices even lower.
The Kuala Lumpur Composite Index (KLCI) closed down 2.38 points or 0.26
pct at 922.34. The second board Index was down 1.22 points or 1.35 pct at 89.
07.
Total trading volume was 557.71 mln shares, valued at 620.264 mln rgt.
Losers beat gainers 495 to 206, with 300 stocks unchanged and 319 stocks
untraded.
At the close, the ringgit was quoted at 3.6945/6995 to the dollar.
The Malaysian Institute of Economic Research (MIER) trimmed its forecast
for domestic growth this year to 5.2 pct from 5.5 pct previously. It also
said growth next year might slip to 4.8 pct.
Dealers said high oil prices continue to dampen sentiment despite today's
dip in prices.
But the plantation sector managed to post solid gains on expectations of
higher crude palm oil (CPO) prices due to plans to make use of biodiesel fuel
domestically.
The sub-index was up 39.27 points or 1.15 pct at 3,445.59.
A local fund manager noted that whether the rally in the plantation
sector can be sustained will depend on movements in crude oil prices, as
hopes for biodiesel use depend on crude prices staying at high levels.
"Don't forget that supply of the other substitutes to palm oil, such as
the soybean oil will also have an impact on palm oil prices as well," he
added.
He said even if the country achieves its target of replacing 10 pct of
its current diesel consumption with biodiesel fuel, the impact on inflation
is likely to be limited given high crude oil prices.
Among blue chips, Tenaga was down 0.05 rgt or 0.55 pct at 9.10 on volume
of 2.84 mln shares, Telekom Malaysia lost 0.05 rgt or 0.55 pct to 9.00 on
volume of 328,800 shares and Maybank was down 0.10 rgt or 0.94 pct at 10.50
on volume of 1.04 mln shares.
Plantation stocks were generally higher, with IOI Corp gaining 0.30 rgt
or 1.91 pct to 16.00, Kulim was up 0.14 rgt or 3.66 pct at 3.96, Guthrie rose
sharply by 0.13 rgt or 4.68 pct to 2.91 and PPB Oil Palms gained 0.15 rgt or
2.04 pct to 7.50.
Iris Corp, a maker of smart card readers, was the most actively traded
stock, falling sharply by 0.21 rgt or 29.17 pct to 0.51 on volume of 78.64
mln shares. The stock has been volatile lately on speculative interest,
dealers said.

For tomorow...market issuing a strong selling signal...Short KLOFF...near term target 900 points...

For CPO market...profit taking expecting to continue tomorow...Long CPO when price reach 1550 points...

Regard

Anthony Wong

Friday, July 21, 2006



Kuala Lumpur shares close higher on blue chip interest, corporate results
UPDATE 21/07/2006
- Share prices closed higher on follow-through
interest in blue chips, with the benchmark index ending at the day's high
after successfully breaching the 920 points resistance level, dealers said.
They said investor sentiment got a boost from strong quarterly results
from DIGI.COM and Public Bank.
Analysts see the market's next resistance at 930 points while strong
support is seen at 922 points.
The Kuala Lumpur Composite Index (KLCI) closed up 8.10 points or 0.88 pct
at 924.72 , ending the week up 11.09 points or 1.21 pct.
The Second Board Index was up 0.32 points or 0.36 pct at 90.29 .
Trading volume was 535.12 mln shares valued at 702.04 mln rgt.
Gainers beat losers 348 to 313, with 319 counters unchanged and 338
stocks untraded.
At the close, the ringgit was quoted at 3.6805 /6855 to the dollar
"Sentiment is cautiously optimistic going into next week," a local
brokerage dealer said, noting positive newsflow from the US.
US Federal Reserve chairman Ben Bernanke said his congressional testimony
this week that US inflation remains contained. The comments gave rise to
hopes that the Fed's rate-hike campaign may be nearing an end.
The dealer said the market is likely to post further gains early next
week on extended buying of blue chips, though profit-taking activity will cap
the advance.
Among next week's economic news, the central bank's highly awaited
monetary statement will be out on Friday along with monthly statistical
bulletin for June.
Among blue chips, Tenaga Nasional and Telekom Malaysia were both up 0.05
rgt at 9.15 and 9.05 respectively, while Malayan Banking gained 0.10 rgt to
10.60.
Genting was up 0.20 rgt at 24.00, Bumiputera-Commerce Holdings added 0.15
rgt to 5.95 and Kulim advanced 0.16 rgt to 3.82.
Plantation stocks were sharply higher on news that government is
ploughing 1.0 mln eur into a promotional campaign.
IOI Corp, the biggest gainer today, rose 0.60 rgt to 15.70, while Kuala
Lumpur Kepong added 0.60 rgt to 10.80 and PPB Oil Palms edged up 0.30 rgt to
7.35.
Iris Corp fell sharply by 0.13 rgt or 15.29 pct to 0.72 affected by news
that the stock exchange cautioned investors against excess volatility in some
unidentified stocks.
BCT Technology was sharply higher, rising 0.115 rgt or 18.70 pct to 0.73
in active trade as the stock made its debut on the Mesdaq market.
At the close, three-month interbank rates were quoted at 3.90/92 pct and
the overnight rate was quoted at 3.45/50.

For next week...strong profit taking take place...Short KLOFF...target 895 points...

For CPO market... Strong profit taking occur next week...target 1500 points in near term...

Regard


Anthony Wong

Thursday, July 20, 2006

Interst ease, share go up


Kuala Lumpur shares close higher as rate worries ease; financials lead UPDATE 20/07/2006
- Share prices closed higher, tracking strong
gains across the region after US Federal Reserve Chairman Ben Bernanke's
remarks eased concerns about interest rates, dealers said.
Bernanke said in his congressional testimony last night that the US
economy is slowing to a more sustainable pace and that inflation remains
contained.
Financial stocks led the gains in the local market after the Fed chief's
comments suggested that the US rate-hike cycle may be nearing an end.
The Kuala Lumpur Composite Index (KLCI) closed up 4.64 points or 0.51 pct
at 916.62 , off a high of 920.72 , while the Second Board Index shed 0.75
points to 89.97.
A total of 800.03 mln shares were traded, valued at 909.44 mln rgt.
Losers outnumbered gainers 342 to 334 , with 331 counters unchanged and
309 stocks untraded.
The finance sector index closed up 73.35 points or 1.01 pct at 7,348.19.
The ringgit was at 3.6950/6970 to the dollar.
A local brokerage dealer said that despite the latest positive news from
the US, the local market's direction remains unclear.
"Sentiment is still fragile with profit-taking continuing to be a
problem. Investors continue to be cautious. I guess there need to see a
strong upward trend before changing their stance," he said.
He said he expects profit-taking tomorrow.
TA Securities said the tame Malaysian consumer price index for June,
which rose 3.9 pct year-on-year, should lend some support to the market.
Among blue chips, Tenaga Nasional closed flat at 9.10, Telekom Malaysia
lost 0.05 rgt to 9.00 and BAT Malaysia advanced 0.25 rgt to 40.25.
In the financial sector, Malayan Banking was up 0.10 rgt at 10.50,
Bumiputera-Commerce Holdings added 0.05 rgt to 5.80 and Public Bank gained 0.
10 rgt to 6.45.
Bina Puri Holdings Bhd firmed 0.01 rgt to 0.65 after the company said its
unit has won a contract worth 46 mln rgt.
Digi.com Bhd gained 0.40 rgt to 11.50 ahead of the release of its second
quarter results later today, with analysts expecting the mobile network
provider to post stronger results.
Alam Maritim jumped 0.23 rgt or 13.94 pct to 1.88 as it made its debut
on the main board.
At the close, three-month interbank rates were quoted at 3.90/92 pct,
while the overnight rate was quoted at 3.45/50.

For Tomorrow...we see more profit taking going on...Short KLOFF...near term target 895 points...

For CPO...market must made a profit taking...target 1500 points in near term...

Regard

Anthony Wong

Wednesday, July 19, 2006

High Oil Price Expected, conflict in middle east persist


Kuala Lumpur shares close mixed as profit-taking pares 9MP-driven gains -
UPDATE 19/07/2006
- Share prices closed narrowly mixed, with the
composite index barely supported by gains driven by the government's
announcement late yesterday of the 15 bln rgt first phase of a five-year
Ninth Malaysia Plan, dealers said.
The gains were pared by profit-taking, but the market held on to positive
territory as expectations that inflation pressure in June was under control
provided additional support, they said.
The official consumer price index figures for June were released after
the market close, showing the CPI up 3.9 pct year-on-year, after a similar
growth in May.
The Kuala Lumpur Composite Index (KLCI) closed up 3.30 points or 0.36 pct
at 911.98, off a high of 913.78, while the Second Board Index shed 0.20
points to 90.72.
The mining sub-index was the biggest gainer, rising 8.81 points or 2.33
pct to 387.67 while the construction index was the biggest sectoral loser,
falling 0.97 points or 0.62 pct to 155.11.
Total trading volume was 885.17 mln shares valued at 1.02 bln rgt.
Losers outnumbered gainers 392 to 322, with 302 counters unchanged and
299 stocks untraded.
At the close, the ringgit was quoted at 3.6940/6990 to the dollar,
compared to yesterday's closing quote of 3.6810/6840.
"Profit-taking has definitely shown its ugly head and is showing signs of
accelerating tomorrow, ahead of fresh leads. For the market to remain
positive, I believe a further news flow on the new projects announced under
the 9MP needs to be forthcoming in the near future," a local brokerage dealer
said.
He said market direction remains unclear as it could turn either way,
judging from the cautious stance by investors and uninspiring volumes
today.
TA Securities said the local stock market's technical rebound from the
recent sharp two-day fall, while looking promising in terms of market
breadth, could fizzle as profit-taking and selling on strength are bound to
check its upside potential.
The brokerage house said the persistently large KLCI futures discount is
another bearish factor for the upside, while technical momentum indicators
continue heading south.
"However, on the external front, the overnight rebound in US stocks,
lifted by a dip in crude oil prices, may aid a recovery in regional markets,"
TA added.
Among blue chips, Tenaga Nasional, Telekom Malaysia and Malayan Banking
closed flat at 9.10, 9.05, and 10.40, respectively.
Construction stocks were lower on profit-taking following earlier gains
on news of the new public works projects under the 9MP. UEM Builder was down
0.01 rgt at 1.22, UEM World fell 0.02 rgt to 1.66, and MTD Infraperdana lost
0.09 rgt to 1.06. Gamuda recouped earlier losses to close flat at 3.54.
Magnum Corp Bhd rose 0.07 rgt to 1.96 on its attractive valuation
following a recent sell-off.
TSR Capital Bhd was up 0.06 rgt at 1.99 after the company said it had won
a 3 bln rgt construction project.
REDtone International Bhd inched up 0.02 rgt to 0.655 despite a
government decision to cancel the WiMAX license tender.
At the close, three-month interbank rates were quoted at 3.90/92 pct,
while the overnight rate was quoted at 3.45/50.
For tomorrow...we see big chance of profit taking aktivity...SHORT KLOFF when high...target 895 points in near term...
For CPO Market...range bound trade expected...Short when high and Long when low...
Regard
Anthony Wong

Tuesday, July 18, 2006

High Oil Price, War On Middle East



Kuala Lumpur shares close higher on technical rebound, manufacturing data
UPDATE 18/07/2006 - Share prices closed higher on a technical
rebound from a two-day fall, supported by strong manufacturing sales data for
May, dealers said.
Trading sentiment, however, was unstable and the day's gains were pared
in late trade by some profit-taking, which dealers said may set the tone for
tomorrow's trade.
The Kuala Lumpur Composite Index (KLCI) closed up 5.98 points or 0.66 pct
at 908.68, while the Second Board Index gained 0.91 points to 90.92.
Trading volume was 826.41 mln shares valued at 929.56 mln rgt.
Gainers outnumbered losers 571 to 159, with 260 counters unchanged and
329 stocks untraded.
At the close, the ringgit was quoted at 3.6825/6875 to the dollar,
compared with yesterday's closing quote of 3.6875/6925.
The Statistics Department announced at midday that manufacturing sector
sales in May rose 11.1 pct year-on-year to 40.7 bln rgt, and were up 1.5 pct
from the 40.1 bln rgt registered in April.
RAM Consultancy Services Sdn Bhd's chief economist and managing director
Yeah Kim Leng said the figures showing improved growth in May helped boost
investor confidence in the overall health of the economy and in market
prospects.
The KLCI, which had been down the past two trading days and bounced back
on technical factors earlier in the day, was buoyed by reaction to the
manufacturing sales data, ending the morning session up 7.77 points or 0.86
pct at 910.47, before profit-taking slashed the gains toward the close.
"Profit-taking already started to take a toll on the market in the latter
part of trade. This could suggest that market sentiment remains volatile,
and market direction could turn either way in the near term," a local
brokerage dealer said.
He said the moderate trading volume also reflects "cautious optimism" on
the part of investors.
The dealer said the market can be expected to yield to profit-taking
pressure tomorrow in rangebound trade between 906 and 910 points.
Dealers said the market is also expected to continue to track
developments on Wall Street and regional markets, where concerns over the
conflict in the Middle East continue to haunt investors.
Among blue chips, Telekom Malaysia closed up 0.10 rgt at 9.05, Genting
advanced 0.20 rgt to 23.20 while BAT Malaysia was flat at 40.25.
Other notable gainers include Shell Refining Company, which rose 0.30 rgt
to 10.30, Dutch Lady Milk Industries, up 0.20 rgt at 8.90, and Transmile
Group, up 0.20 rgt at 12.70.
Construction stocks were sharply higher on speculative interest as
investors awaited the unveiling of projects under the Ninth Malaysia Plan.
MTD Infraperdana was up 0.04 rgt at 1.15, Tebrau advanced 0.05 rgt to 0.
63, and UEM Builders gained 0.04 rgt to 1.23.
Astro All Asia Networks Plc firmed 0.06 rgt to 4.60 after the company
said the launch slot for the MEASAT-3 satellite (M3) has been confirmed
Wellcall Holdings Bhd jumped 0.28 rgt or 28 pct to 1.28 in active trade
after the company made its debut on the second board.
At the close, three-month interbank rates were quoted at 3.90/92 pct and
the overnight rate was quoted at 3.45/50.

For tomorrow, market rebound...long KLOFF...near term target 905 points...

For CPO Market...market too high to long...good chance to short...near term target 1490...

Regard

Anthony Wong

Monday, July 17, 2006

Share Down On Middle East War


KUALA LUMPUR-- Share prices on Bursa Malaysia closed on 17/07/2006
lower amid some panic selling today following a rise in world oil price amid
fears of a possible escalation in the conflicts in West Asia.
The rising oil price has caused concerns that the growth prospect of the
global economy would be adversely affected, said a dealer.
The Kuala Lumpur Composite Index lost 10.93 points to 902.70 and the
Industrial Index fell 24.98 points to 1,860.22.
The Second Board Index shed 0.91 of a point to 90.01 and MESDAQ Market lost
2.05 points to 117.28.
The FBMEmas lost 63.18 to 5,882.10 and FBM30 shed 65.84 to 5,840.09.
Losers overwhelmed gainers by 661 to 146, while 217 counters were unchanged,
295 untraded and 31 suspended.
The turnover dropped to 862.093 million shares worth RM1.079 billion from
1.162 billion worth RM1.242 billion last Friday.
Turnover on the Main Board fell to 535.244 million shares worth RM817.110
million from 725.331 million worth RM906.957 million last Friday.
The Second Board's volume meanwhile eased to 88.037 million shares worth
RM91.107 million from 114.227 million shares worth RM87.691 million.
The MESDAQ Market's volume fell to 235.127 million shares valued at
RM170.140 million from 315.376 million shares worth RM245.520 million.
Call warrants decreased to 3.685 million shares valued at RM1.305 million
from 7.074 million shares worth RM2.106 million.
Direct business deals shrank to 17.163 million shares valued at RM12.532
million from 75.730 million shares worth RM147.409 million.
An analyst said worries about the conflict in West Asia influenced
investors' mood today, resulting in some degree of panic selling in Asian
bourses.
In Hong Kong, the Hang Seng Index closed 70.89 points down to 16,064.82,
while in Singapore the Straits Times Index closed 43.35 points lower at
2,320.20.
The dealer said he expected further selling tomorrow unless worries over the
West Asia conflict eases and the Wall Street rebounds sharply overnight.
He said while oil price has eased to around US$77 per barrel from a high of
US$78.40 last week, many expect it to breach the US$80 price level in the near
term, driven mainly by speculative activities than actual shortage of oil.
However, he also expected some selective bargain hunting tomorrow,
particularly on stocks expected to gain from projects under the Ninth Malaysia
Plan such as Tebrau and UEM.
Those related to the oil and gas sectors are also likely to get some
attention as investors expect major investments in the sector, he added.
Among the active counters, Tebrau rose 2.5 sen to 58 sen, Iris Preference
Share was unchanged at 86.5 sen, Iris gained two sen to RM1.05, Mulpha warrant
stayed at 19 sen and Jadi lost two sen to 29.5 sen.
As for bluechips, Maybank was unchanged at RM10.50, Tenaga lost 10 sen to
RM9.10, Telekom shed 10 sen to RM8.95, Bintulu Port rose 16 sen to RM4.80, Shel
lost 50 sen to RM10.00 and Genting lost 90 sen to RM23.00.
On a sectoral basis, consumer products accounted for 20.616 million shares
traded on the Main Board, industrial products 62.389 million, construction
47.144 million, trade/services 131.120 million, technology 4.288 million,
infrastructure 11.814 million, finance 55.621 million, hotels 4.949 millon,
properties 132.521 million, plantation 10.444 million, mining 2,100 shares,
REITS 1.283 million, closed/fund 174,800, ETF nil and loans 52.879 million. --

For tomorrow...we strongly expected technical rebound...LONG KLOFF short term target 895 points...

For CPO Market...big chance to make money...Short CPO when market rally tomorrow...Short term target 1500 points...

Regard

Anthony Wong

Friday, July 14, 2006

Conflict In Israel Force Share Market Down


KUALA LUMPUR-- Share prices on Bursa Malaysia closed on 14/07/2006
sharply lower on panic selling amid concerns over higher crude oil prices and a
possible interest rate hike by the end of this month, dealers said.
Oil price remained above US$78 per barrel Friday after bombings in Israel
and Lebanon and the conflict between western nations and Iran over the nuclear
programme.
The 100-quality stock Composite Index, which opened 1.06 points lower at
925.49, eased 12.92 points to 913.63 at 5.00 pm.
A dealer said trading in the local market was relatively quiet throughout
the day with interest only on consumer, plantation and industrial stocks.
The Second Board Index was down 3.22 points to 90.92 and the Industrial
Index was 36.06 points lower at 1,885.20.
As for the FTSE-BM Index series, FBMEmas decreased 96.56 points to 5,947.16
while the FBM30, which comprise the top 30 companies by full market
capitalisation, lost 73.65 points to 5,909.22.
Losers outnumbered gainers by 827 to 90 while 164 counters were unchanged
and 239 untraded. Volume stood 1.162 billion shares worth RM1.242 billion.
Another dealer said that given the weaker external tone, the downtrend is
likely to continue next week as institutional interest dwindles on a lack of
positive domestic leads.
If there are some gains, he said, it will be limited on profit taking
activities among selected lower liners and bluechips.
Main Board turnover rose to 725.331 million shares worth RM906.957 million
shares from 521.003 million shares worth RM866.610 million Thursday.
Volume on the Second Board also appreciated to 114.226 million shares worth
RM87.690 million compared with 84.934 million shares valued at RM79.071 million
previously.
Turnover on the Mesdaq Market increased to 315.375 million shares worth
RM245.519 million versus 301.505 million shares valued at RM252.314 million.
Direct business deals, however eased to 75.730 million shares valued at
RM147.409 million from 81.354 million shares worth RM156.289 million.
Call warrants declined to 7.074 million shares valued at RM2.106 million
against 8.218 million shares valued at RM3.431 million yesterday.
Iris Corp led the actives list at RM1.03, decreased 34 sen, followed by
Karambunai Corp, which lost two sen to 10.5 sen while Sugar Bun Corp depreciate
32 sen to 90 sen.
Among heavyweights, Maybank declined 20 sen to RM10.50, Tenaga remained flat
at RM9.20, Telekom inched down five sen to RM9.05 and MISC lost 2.5 sen to
RM7.60.
Air Asia remained flat at RM1.30 for the second consecutive day. Yesterday,
shares of the low-cost carrier plunged to a 19-month low after the government
backed Malaysia Airlines in offering discounted prices for domestic flights.
However, MAS' shares eased eight sen to RM2.79 today.
On a sectoral basis, consumer products accounted for 20.734 million shares
traded on the Main Board, industrial products 105.936 million, construction
45.263 million, trade/services 200.332 million, technology 7.454 million,
infrastructure 17.705 million, finance 74.588 million, hotels 4.451 million,
properties 165.126 million, plantation 9.601 million, mining 5,900 shares, REIT
449,200 shares, closed/fund 189,400 and loans 73.494 million.

For Next week...more selling pressure...sell KLOFF target 885 in near term...

For CPO market...more selling pressure coming in the market...near term target 1475 points...

Regard

Anthony Wong

Thursday, July 13, 2006

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

Wednesday, July 12, 2006



Kuala Lumpur shares close higher on speculative interest - UPDATE
12/07/2006- Share prices closed higher as investors chased
some speculative counters, with trading activity dominated by second-liners,
dealers said.
They said the upside was capped by worries over some government policies,
such as those pertaining to the aviation sector.
The Kuala Lumpur Composite Index (KLCI) closed up 3.63 points or 0.39 pct
at 928.23. The Second Board Index was up 0.76 points or 0.81 pct at 94.61.
Gainers outnumbered losers 468 to 290, with 300 stocks unchanged and 259
counters untraded.
Volume was 1.09 bln shares valued at 1.17 bln rgt.
At the close, the ringgit was quoted at 3.6550/6600 to the dollar.
A local brokerage dealer said the government's decision to allow Malaysia
Airlines to compete in the budget travel market with low-cost rival AirAsia
is proving worrisome for some investors, as the move goes against the
government's previous ruling.
"Foreign investors liked AirAsia for its potential monopoly on the
domestic routes, but now the government has changed its mind and the whole
investment case for AirAsia has changed," he said.
"If we keep changing government policies it will not do well for the
market in the longer term," the dealer added.
Going forward, the market's direction will be driven by corporate
results, he said, adding that he expects the results to be generally
unexciting in view of rising interest rates and high oil prices.
Among blue chips, Tenaga closed flat at 9.20 rgt on volume of 1.94 mln
shares. The company will announce its third quarter to May results on Friday.
Telekom Malaysia was steady at 9.05 rgt on volume of 517,700 shares while
Maybank gained 0.10 rgt at 10.80 on volume of 2.53 mln shares.
Among other gainers Tanjong rose 0.30 rgt or 2.21 pct to 13.90, Nestle
was up 0.30 rgt or 1.29 pct at 23.50, BAT Malaysia up 0.25 rgt at 41.75 and
Lion Diversified rose 0.24 rgt or 5.80 pct at 4.38.
AirAsia was down 0.03 rgt or 2.13 pct at 1.38 on volume of 11.71 mln
share

For tomorrow...we predict big chance of profit taking... Short KLOFF...near term target 895 points...

For CPO Market...more down trend tomorrow as we see profit taking activity pull down 22 points today...short term target 1475 points...

Regard


Anthony Wong

Tuesday, July 11, 2006


Kuala Lumpur shares close flat, interest seen in lower liners - UPDATE 11/07/2006
- Share prices closed flat in active trade, with
lower liners attracting interest, dealers said.
They said trading was dominated by second board and Mesdaq counters, as
the market awaits fresh catalysts to overcome its current tough resistance
levels.
The Kuala Lumpur Composite Index (KLCI) was down 0.26 points or 0.03 pct
at 924.60. The second board index was up 0.27 points or 0.29 pct at 93.85.
Trading volume was 1.06 bln shares valued at 962.5 mln shares.
Gainers beat losers 434 to 303, with 315 stocks unchanged.
At the close, the ringgit was quoted at 3.6525/6575 to the dollar
A local fund manager said that since the main index has held firm above
the 920 points level, there could be further upside going forward.
However, he noted that as the market has rebounded from a low of 880
points and many stocks have recovered from previous losses, investors are
advised to select stocks that have not been benefiting from the recent gains,
he added.
"To breach the 930 points resistance mark, the market needs fresh
leads ... market interest is expected to linger around stocks with a
development theme, like companies with greater chances of getting involved in
the Ninth Malaysia Plan, such as the Penang monorail project and South Johor
development plans " he said.
Among blue chips, Tenaga was up 0.10 rgt at 9.20 on volume of 6.84 mln
shares, while Telekom Malaysia was steady at 9.05 rgt on volume of 359,400
shares and Maybank was flat at 10.70 rgt on volume of 1.30 mln shares.
AirAsia was lower on extended selling after the announcement by Malaysia
Airlines that the government is allowing the national carrier to offer
discount fares for its domestic routes. AirAsia closed down 0.05 rgt at 1.41
on volume of 6.70 mln shares.
Rashid Hussain (RHB) and Utama Banking Group (UBG) were higher on
speculation that the Canadian Nova Scotia Bank is interested in buy UBG's
stake in RHB. RHB was up 0.22 rgt at 1.31 and UBG was up 0.215 rgt at 1.21.
New listing Frontken Corp was the most actively traded stock, rising 0.08
rgt to 0.29 on volume of 74.1 mln shares.

For tomorrow...KLOFF issueing a very clear SELLING SIGNAL...target 895 points in near term...

For CPO market...profit taking expected in near term ...target 1475 points...

Regard


Anthony Wong

Monday, July 10, 2006


Kuala Lumpur shares close flat in rangebound trade - UPDATE 10/07/2006
- Share prices closed flat in rangebound trade as
investors lacked fresh leads to spur buying interest, dealers said.
The benchmark index was weighed down by mild profit-taking in blue chips,
they said, adding that the market could consolidate further tomorrow if Wall
Street extends losses tonight after a downturn on Friday.
The benchmark Kuala Lumpur Composite Index (KLCI) closed down 0.70 points
at 924.86. The second board Index lost 0.73 points at 93.58.
Volume was 1.06 bln shares valued at 992.81 mln rgt.
Losers outnumbered gainers 366 to 338, with 304 stocks unchanged and 308
counters untraded.
The ringgit was quoted at 3.6405/6455 to the dollar, against 3.6310/6360
in opening trade.
A local brokerage dealer said the market was "lethargic with many
investors remaining on the sidelines."
Trading was "rangebound and dull," he said, adding that he expects
profit-taking activity to continue tomorrow as the market consolidates
towards the 920 points level.
TA Securities, however, said that the end of the World Cup soccer
tournament should bring retail investors, who have been distracted over the
past month, back to the market.
Among blue chips, Tenaga Nasional closed down 0.05 rgt at 9.10, Telekom
Malaysia was flat at 9.05 rgt and Malayan Banking gained 0.10 rgt to 10.70.
Air Asia was down 0.02 rgt at 1.46 on news that the government has
removed the floor price on fares for Malaysia Airlines, which will enable the
national carrier to offer discounted tickets.
Time dotCom was up 0.04 rgt or 5.33 pct at 0.79 on speculation that Digi.
com may take a stake in the company.
Rashid Hussain was down 0.01 rgt at 1.09 on profit-taking after gaining
earlier on speculation that the Employees Provident Fund may team up with
Bank of Nova Scotia to take over the Utama Banking Group's stake in RHB.

For tomorrow...best chance to SHORT KLOFF before 9.45am...short term target 895 points...

For CPO Market...more profit taking in near term...target 1475 points near term...

Regard

Anthony Wong

Sunday, July 09, 2006


Kuala Lumpur shares close higher led by blue chips after economic data -
UPDATE 9/07/2006
- Share prices closed higher as investors picked
up blue chips on expectations that the market's technical rebound will
continue into next week, dealers said.
They said investor confidence was bolstered by strong industrial output
figures released today and robust exports data announced earlier this week.
The benchmark Kuala Lumpur Composite Index (KLCI) closed up 5.56 points
or 0.06 pct at 925.56, ending the week up 10.87 points or 1.19 pct.
The second board Index added 0.07 points at 94.31.
Volume was 794.39 mln shares valued at 913.64 mln rgt.
Gainers outnumbered losers 482 to 241, with 301 stocks unchanged and 292
counters untraded.
The ringgit was quoted at 3.6505/6555 to the dollar, against 3.6600/6630
in opening trade.
Dealers said they expect blue chips to attract follow-through interest
next week, judging from today's brisk activity.
They said there was strong buying in late trade, which is a good sign as
investors normally unload positions ahead of weekend.
A local brokerage dealer said the market's performance this week
suggests the gains are sustainable and that the rebound could last at least
for the next few trading days.
Another dealer, however, sounded a note of caution.
"Even though sentiment seems to be improving... concerns of higher
interest rates and geopolitical uncertainties continue to persist," the
dealer said.
"The concerns may have abated but they have not entirely gone away from
investors' radar screen," he said.
Among blue chips, BAT (Malaysia) was up 0.50 rgt at 41.00, Tenaga
Nasional was up 0.05 rgt at 9.15 and Telekom Malaysia gained 0.10 rgt to 9.05.
Other notable gainers included Kuala Lumpur Kepong, which advanced 0.20
rgt to 10.50; UMW Holdings, which added 0.15 rgt to 7.55; and Proton
Holdings, up 0.10 rgt at 5.20.
LPI Capital fell 0.10 rgt to 7.55 after announcing weaker results for the
second quarter to June.
Digi.com Bhd rose 0.20 rgt to 11.20 on its proposed second capital
repayment.
Petra Perdana was up 0.10 rgt at 3.54 on its proposal to list unit Petra
Energy.
YTL Corp added 0.07 rgt to 5.05 on a report that the government will
allow the company to conduct a feasibility study on a bullet train service
proposal.


For next week, we see a big chance of profit taking...beware...short KLOFF target 885
points in near term...

For CPO Market...profit taking most certain to take place ...good buy back at1485 points...

Regard

Anthony Wong

Thursday, July 06, 2006


Kuala Lumpur shares close lower on profit-taking, NKorea tension - UPDATE 6/7/2006
- Share prices closed lower as profit-taking hit
especially the blue chips, with investors worried that volatility in
regional markets will persist in the near term due to diplomatic tensions
stirred by North Korea's missile tests yesterday, dealers said.
Markets around the region may take some time to digest that news and it
will not be surprising to see investors gradually trimming their portfolios
here, given the local market's recent gains, they said.
"Like other nerve-wracking news, this will take some time to be fully
digested by the market," a local brokerage dealer said, adding that
diplomatic tensions in the region may worsen further before they ease.
"'Better to play it safe than sorry," the dealer added.
The Kuala Lumpur Composite Index (KLCI) closed down 4.89 points or 0.53
pct at 920.00 The second board index shed 0.21 points to 94.24.
Trading volume was 676.95 mln shares valued at 791.79 mln rgt.
Losers outnumbered gainers 458 to 226, with 307 stocks unchanged and 325
counters untraded.
At the close, the ringgit was quoted at 3.6655/6705 to the dollar,
against 3.6590/6640 in opening trade.
"Trading is expected to remain cautious tomorrow with selling pressure on
blue chips likely to persist. If the market breaches the psychological
920-point support level, which is very likely, sentiment will remain weak,"
the local berokerage dealer said.
OSK Securities said the key index is entering a tough resistance zone,
with the next obstacle after 920 points seen at 935, while support is seen
next at 910 and then 900 points.
Among blue chips, British American Tobacco closed flat at 40.50 rgt ,
Telekom Malaysia and Malayan Banking were down 0.10 rgt at 8.95 and 10.60,
respectively.
Taliworks Corp Bhd was down 0.07 rgt at 1.71 on profit-taking after the
stock rose sharply in trading yesterday in connection with an announcement of
a new contract.
Plantation stocks were lower as investors locked in profits after recent
gains. IOI Corp was down 0.10 rgt at 14.90 and Kuala Lumpur Kepong fell 0.20
rgt to 10.30.
Lion Forest Industries Bhd was down 0.02 rgt at 2.91 on profit-taking
after it gained earlier on news of its proposed capital distribution.

for tomorrow...we still predict more selling pressure as near weekend...SHORT KLOFF...target 885point in near term...

For CPO Market...we may see more profit taking after strong rally today...near term target 1480 point...

Regard

Anthony Wong

Wednesday, July 05, 2006


Kuala Lumpur shares close flat amid regional concerns over NKorea - UPDATE 5/7/2006
- Share prices closed flat, losing their initial
gains to profit-taking as regional markets fell on concern over North Korea's
test-launch of its missile capability in defiance of international warnings,
dealers said.
They said investors remained worried about further repercussions of the
North Korean action, and expect further market volatility tomorrow.
They added, however, that the underlying market sentiment was still
positive as supported by strong exports data for May, and that reaction to
the North Korean missile launch is likely to be temporary.
The Kuala Lumpur Composite Index (KLCI) closed up 0.90 pts or 0.09 pct at
924.89. The Second Board Index shed 0.36 points or 0.38 pct to 94.45.
Trading volume was 707.74 mln shares valued at 841.57 mln rgt.
Losers outnumbered gainers 477 to 286, with 286 stocks unchanged and 277
untraded.
At the close, the ringgit was quoted at 3.6490/6540 to the dollar,
against 3.6430/64700 in opening trade.
"Overall market sentiment remains fairly solid after (it was bolstered
yesterday) by the stronger export data for in May. It has also been given a
nudge by easing expectations of further rises in US interest rates," a local
brokerage dealer said.
He said he expects the negative reaction to the North Korean missile
tests as more of a knee-jerk response and is going be temporary.
The market may see selective rebound and profit-taking tomorrow, limiting
any price movement, he added.
Dealers added that the direction of the market in the next few days
remains uncertain.
Among blue chips, British American Tobacco closed up 0.25 rgt at 40.50,
Telekom Malaysia gained 0.05 rgt to 9.05 and Malayan Banking advanced 0.10
rgt to 10.70. Green Packet Bhd was higher by 0.08 rgt at 3.04 as the market
welcomed the investment plans by global asset management firm Legg Mason in
the company.
AIC Corp Bhd was up 0.03 rgt at 1.05 on news that a subsidiary has
secured assembly contracts from Samsung Electronics and KEC Corp.
Top Glove Corp Bhd was flat at 9.10 rgt on profit taking after it gained
earlier in the day on the back of its improved results for the third quarter
to May.
K-One Technology Bhd gained 0.04 rgt to 1.85 on news that its unit BIGant
(M)Sdn Bhd has struck a one-year deal with telecommunications provider, Digi
Communications Sdn Bhd.
Petra Perdana Bhd advanced 0.06 rgt to 3.44 after the company said it is
going to issue bonus shares.

For tomorrow...any rebound will be a good chance to SHORT KLOFF...target 890 point in near term...

For CPO market, we may see some selling pressure in the morning...any correction to 1475 point is a good buy signal...short term target 1500...

Regard

Anthony Wong

Tuesday, July 04, 2006


Kuala Lumpur shares close higher on strong May exports data - UPDATE 4/7/2006
- Share prices closed higher on active buying
interest in blue chips and lower liners, driven by a sharp improvement in
Malaysia's export data for May and expectations that the market upswing will
be technically sustained tomorrow, dealers said.
They said speculative and follow-through interest in blue chips will help
sustain the upward momentum tomorrow in heavy trade.
The Kuala Lumpur Composite Index (KLCI) closed up 4.85 pts or 0.52 pct at
923.99. The Second Board Index gained 0.60 pts to 94.81.
Trading volume was 1.00 bln shares valued at 1.13 bln rgt.
Gainers outnumbered losers 602 to 201, with 245 stocks unchanged and 266
counters untraded.
At the close, the ringgit was quoted higher at 3.6425/3647 to the dollar,
against 3.6560/6610 in opening trade.
The Ministry of International Trade and Industry announced during the
morning trade that Malaysia's exports in May grew 13.2 pct year-on-year to 48.
28 bln rgt, while imports rose 11.8 pct to 40.23 bln rgt, leading to a trade
surplus of 8.05 bln rgt during the month.
The May surplus marks an increase from the surplus recorded in April,
which stood at 6.63 bln rgt.
Exports for the five-month period increased by 10.5 pct to 230.7 bln rgt,
and imports rose by 12.8 pct to 190.24 bln rgt, resulting in a trade surplus
of 40.46 bln rgt.
"Today's positive market close suggests that gains are sustainable for at
least the near term. Strong follow-through buying in blue chips and
lower-liners gives an impression that sentiment could now be turning
positive, helped by easing concerns over rising global interest rates," a
local brokerage dealer said.
He added that the market is expected to remain bullish tomorrow.
However, he warned that market volatility should not be ruled out as the
direction of the market for the medium to long term remains unclear.
He said that tomorrow's forecast gains may be cut by profit-taking,
adding that trade will be confined within a narrow range at between 923 and
926 points, with strong resistance seen at 930.
Among blue chips, Dutch Lady Milk Industries closed up 0.30 rgt at 9.05,
while Telekom Malaysia and Malayan Banking were flat at 9.00 rgt and 10.60,
respectively.
BIMB Holdings edged up 0.15 rgt or 10.87 pct to 1.53 on follow-through
interest after the stock's sharp gains yesterday.
Tenaga Nasional added 0.05 rgt to 9.20 on news that its agreement to
acquire power generation businesses from Northern Utility Resources has
lapsed.
Bursa Malaysia rose 0.25 rgt to 6.10 on expectations of improved earnings
prospects for the bourse following recent increases in trade turnovers.

As for tommorow,time to make money by Shorting the KLOFF ...short term target...895 point...

For CPO market...after today correction...any drop tomorrow will be very good change to LONG...target 1500 point...

Regard

Anthony Wong

Monday, July 03, 2006


Kuala Lumpur shares close firmer in technically-driven trade-
UPDATE 3 / 7 /006
- Share prices closed slightly higher in
technically driven trade led by blue chips, with the market lacking fresh
fundamental leads following last week's rally, dealers said.
Many investors kept to the sidelines to see which countries would follow
the US lead in raising key interest rates, they said.
They said the market could still see some follow-through buying of blue
chips tomorrow, with heavyweight counters like Genting and British American
Tobacco particularly attracting further interest.
The Kuala Lumpur Composite Index (KLCI) closed up 4.45 pts or 0.49 pct at
919.14.
The FTSE Bursa Malaysia Emas index was up 14.28 points at 5987.95.The
Second Board Index gained 0.54 pts to 94.21.Trading volume was 601.39 mln
shares valued at 736.46 mln rgt.
Gainers outnumbered losers 377 to 330, with 283 stocks unchanged and 329 counters untraded.
The ringgit was quoted at 3.6620/6670 to the dollar, against Friday's
close of 3.6615/3.6665.
"Follow-through buying is likely to happen again tomorrow, with
(speculative play in) heavyweights like Genting, IOI Corp and British
American Tobacco" pushing their prices higher, a local brokerage dealer said.
"However, further gains are also likely to encounter selling pressure
tomorow on profit-taking activity," the dealer added.
He said the market is expected to test resistance at 920 points before
yielding to profit-taking.
Dealers said the market is also likely to trade rangebound tomorrow as
investors refrain from taking strong positions ahead of clear leads.
Among blue chips, British American Tobacco closed up 0.50 rgt at 40.00,
IOI Corp advanced 0.30 rgt to 14.60, Genting gained 0.50 rgt to 24.00, while
Tenaga Nasional slipped 0.05 rgt to 9.15 rgt.
Tanjung Offshore was flat at 13.50 on profit-taking after announcing its
unit had won a new charter contract.
Rexit was sharply higher by 0.13 rgt at 1.79 as investors positioned
themselves for the stock's one-for-three bonus issue, with the stock's
ex-date today.
Megan Media edged up 0.025 rgt to 0.76 on improved results for the fourth
quarter to April.
BIMB Holdings jumped 0.20 rgt or 16.95 pct to 1.38 on news that it has
entered into an deal involving the sale of stakes in subsidiary Bank Islam
Malaysia Bhd for more than 1 bln rgt.
At the close, the three-month interbank rates were quoted at 3.90/92,
while the overnight rate was quoted at 3.40/50.

For KLOFF we expected it to trade up in the morning before 9.30am...
Target 910 point...Beware of profit taking at 915 to 916 level...

For CPO we expecting market to set in profit taking after few days to rally...
Target 1465...

Regard

Anthony Wong