Kuala Lumpur shares close higher led by blue chips ahead of GDP data - UPDATE 30/8/2006
- Share prices closed higher as blue chips gained
further momentum on last-minute positioning for the release of second-quarter
gross domestic product (GDP) data, dealers said.
The figures are expected to be released about an hour after the market
closed.
A slew of better-than-expected corporate earnings also helped boost
buying interest in blue chips, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed up 4.90 points or 0.51 pct
at 958.12. The FTSE Bursa Malaysia 30 large-cap was up 35.13 points at 6,213.
85, while the second board index was down 0.39 points at 83.18.
Gainers outnumbered losers 373 to 321, with 340 counters unchanged and
285 stocks untraded.
Trading volume was 405.41 mln shares valued at 715.14 mln rgt.
"Accelerated buying in blue chips (in late trade) was partly due to
investors banking on hopes that the GDP figures would continue to be robust
and that inflation is kept at manageable levels," a local brokerage dealer
said.
He said follow-through buying in blue chips may again be expected
tomorrow as the time of the presentation of the national budget on Friday
approaches.
He said certain companies in construction and property could see their
share prices gaining tomorrow on expectations that the industry will be given
favorable allocation in the budget.
"The KLCI is moving up in small steps in anticipation of the budget on
Friday, and boosted as well by the recent pretty good results from blue chip
companies," MIDF Sisma's analyst S.Sharath said.
He said that the upward movement of the KLCI is a "good sign," but noted
that trading still lacks volume and breadth.
On the Mesdaq market, meanwhile, investors are expected to continue to
shy away for at least the near term, as indicated by the thinning trade
volume in the stocks following steep falls in Mobif shares after the company
was queried for unusual movement of its shares, Sharath said.
MIDF Sisma's equity economist Imran Nurginias Ibrahim said that GDP
growth in the second quarter is expected to come in at between 5.5 pct (MIDF
estimate) and 5.6 pct (market consensus).
TA Securities , in a note to clients, said the current coporate earnings
season is drawing to a close, and market players may step aside after having
already taken their positions ahead of the Merdeka Day celebration and the
Budget 2007 presentation on Friday.
The brokerage added cautious sentiment should also prevail in the
lower-liner segment amid investigations into manipulation and short-selling
charges involving highly speculative counters.
TA said the daily momentum indicators for KLCI have moved into the
overbought zone, suggesting that a further rise would be restricted as
profit-taking sets in.
Among key blue chips, BAT Malaysia was up 1.00 rgt at 41.50, Telekom
Malaysia advanced 0.10 rgt to 9.10, Genting rose 0.01 rgt to 24.60 and UMW
Holdings gained 0.10 rgt to 7.45.
Kulim Bhd's was up 0.04 rgt at 4.50 after posting a 187 pct rise in its
net profit for the first half to June to 95.4 mln rgt.
Proton Holdings Bhd was higher by 0.14 rgt at 4.94 despite after
reporting a wider net loss of 58.65 mln rgt for the first quarter to June.
AirAsia Bhd added 0.02 rgt to 1.35 after reporting a sharp rise in its
net profit for the fourth quarter to June.
RHB Capital Bhd rose 0.04 rgt to 2.74 after reporting improved results
for the second quarter to June,
Sime Darby Bhd moved up 0.20 rgt to 5.95 after posting a record full-year
net profit of 1.12 bln rgt

For tomorrow...SHORT KLOFF...target 900 points...

For CPO market...correction may reach to 1500 points...

Regard

Anhony Wong

Kuala Lumpur shares close mixed; KLCI up ahead of economic data - UPDATE 29/8/2006
- Share prices closed mixed in lackluster trade,
with the benchmark index supported by local institutional funds' interest in
select blue chips ahead of the release tomorrow of second-quarter economic
data and the national budget on Friday, dealers said.
They said a string of good corporate results reported by heavyweights
like Malayan Banking helped boost interest in blue chips.
The Kuala Lumpur Composite Index (KLCI) was up 2.26 points or 0.24 pct at
953.22.
The FTSE Bursa Malaysia 30 large-cap was up 14.61 points at 6,178.72,
while the second board index was down 0.17 points at 83.57.
Losers outnumbered gainers 381 to 312, with 336 counters unchanged and
290 stocks untraded.
Trading volume was 415.02 mln shares valued at 680.74 mln rgt.
TA Securities, in a note to clients, said trading was rangebound as
investors keenly awaited the second-quarter GDP numbers, due out tomorrow,
for fresh leads on the domestic economy.
Many investors also kept to the sidelines awaiting the unveiling of
Budget 2007 on Friday. The brokerage said other than these factors, the
market lacked trading incentives.
"The market's movement remained rangebound, with investors continuing to
be sidelined ahead of the national budget, with no other major news to excite
investor interest," TA Securities technical analyst Stephen Soo said.
Soo said certain blue-chip companies like Malayan Banking reported
better-than-expected results, which helped attract some buying interest.
A local brokerage dealer sees another quiet trading tomorrow.
"Trading will continue to be lackluster tomorrow, ahead of the second
quarter GDP data due out later in the day," the dealer said.
He said investors will continue to be cautious ahead of fresh leads,
although select blue chips may see further gains on follow-through buying by
local institutional investors.
TA Securities sees the KLCI continuing to enjoy support above the
950-point level in the near term, but with lower-liners pulled in a downward
direction given the absence of a strong catalyst.
Among key blue chips, BAT Malaysia closed up 0.25 rgt at 40.50, IOI Corp
advanced 0.50 rgt to 16.90, Dutch Lady rose 0.20 rgt to 10.00 and Nestle
Malaysia gained 0.20 rgt to 23.90.
Iris Corp was up 0.01 rgt or 4.88 pct at 0.215 despite a media report
that the Securities Commission is investigating alleged manipulation of the
stock.
Ireka Corp was sharply higher by 0.035 rgt or 5.43 pct at 0.68 on news
that the construction firm plans to sell the Westin Kuala Lumpur Hotel for
455 mln rgt.
Pantai Holdings, a health care group, added 0.10 rgt to 2.61on news that
state-owned investment firm Khazanah Nasional Bhd, together with its
Singapore joint-venture partner, will make a general offer of 2.65 per share
to Pantai shareholders.
Wah Seong Corp, a pipe coating firm, was down 0.03 rgt at 2.20 after
reporting a net loss of 2.97 mln rgt for the second quarter to June,
reversing a net profit of 30.61 mln rgt a year earlier.
Ranhill dropped 0.06 rgt to 1.24 after posting a net loss of 49.47 mln
rgt for the fourth quarter to June, reversing a net profit of 8.98 mln rgt
from a year earlier.
Bumiputra-Commerce Holdings advanced 0.15 rgt to 6.40 after its net
profit for the second quarter to June more than doubled.
At the close, the ringgit was traded at 3.6780/6830 to the dollar,
against the previous close of 3.6805/6855.

For tomorrow...SHORT KLOFF...target 900 points...

For CPO market...market correction may come to 1500 points...

Regard

Anthony Wong

Kuala Lumpur shares close flat; KLCI mildly supported ahead of Budget - UPDATE 29/8/2006
- Share prices closed little changed as investors
took a cautious stance ahead of the national Budget 2007 presentation on
Friday, with mild interest in select blue chips providing some support to the
benchmark index, dealers said.
The market's downside will continue to be firm amid a generally positive
view of the budget in another rangebound trade tomorrow, they added.
The Kuala Lumpur Composite Index (KLCI) closed the day up 0.44 points or
0.05 pct at 950.96. The FTSE Bursa Malaysia 30 large-cap index was up 17.44
points at 6,164.11. The second board index was down 0.51 points at 83.74.
Losers outnumbered gainers 359 to 304, with 333 stocks unchanged and 323
counters untraded.
Trading volume was 362.77 mln shares valued at 615.25 mln rgt.
According to an analyst at MIDF Sisma Securities, the technical charts
show that "the market is experiencing a mild technical uptrend."
He said this is likely due to investors' optimism about the budget, which
is anticipated "to be more exciting and significant in providing goodies for
a number of sectors, especially the automotive industry."
EON Capital Securities research manager for charts Lee Cheng Hooi said
the downside remains firm as investors look positively to the budget for
support, although he sees normal profit-taking next week as the market
digests the budget's content.
TA Securities, in a note to clients, said technical momentum and trend
indicators point to an upward movement for the KLCI this week following last
week's rise to a fresh three-month high, although it also warned that the
upside could be capped by fading interest ahead of the Merdeka Day holiday on
Thursday and the unveiling of the budget on Friday.
Many "investors should also remain sidelined pending the final leg of the
current corporate results season," it added.
TA also said that lower liners could provide some index support on
technical factors or bargain-hunting following a previous correction.
Among key blue chips, Esso Malaysia was up 0.12 rgt at 3.70, Resorts
World advanced 0.20 rgt to 12.20, Genting rose 0.20 rgt to 24.50 and Malayan
Banking gained 0.20 rgt to 11.20.
MBM Resources , a major shareholder of compact car maker Perodua, was up
0.08 rgt at 2.83 after posting a sharp rise in net profit for the second
quarter to June,
Edaran Otomobil Nasional was higher by 0.02 rgt at 2.05 on a report that
the car dealer is in talks with Volkswagen on distribution rights here.
Ranhill was sharply higher by 0.08 rgt or 6.56 pct at 1.30 on a report
that the construction firm may secure a 1.3 bln rgt power plant contract in
India.
Top Glove Corp Bhd was steady at 8.70 rgt despite media reports that the
rubber glove maker has been fined 11.4 mln rgt for hiring foreign workers
without valid work permits
Sime Darby was flat at 5.80 on profit-taking after it gained earlier
ahead of its results for the year to June, due for release tomorrow.
Tong Herr Resources Bhd advanced 0.22 rgt or 7.14 pct to 3.30 after
reporting a 43 pct rise in net profit for the second quarter to June and a
dividend pay-out of 0.16 rgt per share.

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

For CPO market not good...near term 155o points...

Regard

Anthony Wong

Kuala Lumpur shares close firmer ahead of central bank rate decision - UPDATE 25/8/2006
- Share prices closed slightly higher in thin
trade, with sentiment remaining fragile ahead of Bank Negara Malaysia's
interest rate decision due out later in the day, dealers said.
They said the market also looks set to continue trading rangebound next
week ahead of the release of second-quarter gross domestic product (GDP)
growth data on Wednesday and the announcement of the 2007 Budget on Friday.
The Kuala Lumpur Composite Index (KLCI) closed the day up 2.39 points or
0.25 pct at 950.52. For the week, the KLCI was up 7.6 points or 0.8 pct.
The FTSE Bursa Malaysia 30 large-cap index was up 4.95 points or 0.08 pct
at 6146.67.
The second board index was 0.36 points or 0.46 pct firmer at 84.25.
Gainers outnumbered losers 420 to 260, with 348 stocks unchanged and 291
counters untraded. Trading volume was 410.28 mln shares valued at 619.89 mln
rgt.
Bank Negara Malaysia has kept its overnight policy rate at 3.50 pct since
May this year.
An economist with a local bank-based brokerage had said the central bank
is not likely to raise its key rate in today's meeting as the governor had
mentioned several times in the past that the inflation rate is likely to
moderate in the second half and there is no urgency to raise the rate.
Today, Cheah King Yoong, head of research at SJ Securities said "the next
thing we would be looking at is the second-quarter GDP growth data."
He said if the government reports favorable economic growth for the
second quarter, chances for the central bank to raise its key rate in the
second half will be higher.
GDP data will be announced on Wednesday. Trading will be suspended on
Thursday as Malaysia celebrates its 49th National Day. On Friday, Prime
Minister Abdullah Ahmad Badawi will present the 2007 Budget to parliament.
Cheah said he does not expect the upcoming Budget 2007 to have a major
impact on the stock market.
"For next week, we expect the benchmark KLCI to continue to trade within
a tight range, with resistance seen at 955 points, and 944 points is the
support level," he said.
Nevertheless, breweries and tobacco companies are expected to experience
some volatility as the government is likely to impose a higher excise duty on
the so-called "sin industries" in the upcoming budget, Cheah said.
British American Tobacco finished the day down 0.50 rgt or 1.16 pct at 42.
50 and Carlsberg lost 0.02 rgt to 4.98.
Malaysia Airlines is expected to release its first-half to June results
next week. The national carrier gained 0.01 rgt to 3.00, while budget airline
AirAsia held steady at 1.36 rgt ahead its full-year results next week.
Among key blue chips, Mayban was higher after posting a surprise increase
in its fourth quarter net profit. The banking group ended the day up 0.20 rgt
or 1.85 pct at 11.00.
National utilities firm Tenaga was flat at 9.20 rgt and Telekom Malaysia
was unchanged at 9.05.
Mobilephone operator Maxis fell 0.15 rgt or 1.69 pct to 8.70 on concerns
that its loss-making Indonesian operation is likely to drag down its
full-year performance, dealers said.
Worldwide Holdings was sharply higher on its parent's offer of 3.50 rgt
per share to take the unit private. The stock rose 0.66 rgt or 25.98 pct to 3.
20.
KNM Group extended yesterday's sharp gains, rising 0.25 rgt or 2.98 pct
to 8.65. The oil and gas firm said its net profit rose fivefold in the second
quarter to June.
Edaran Otomobil Nasional was down 0.07 rgt or 3.33 pct at 2.03 after
posting weaker-than-expected interim net profit. The car dealer said the
weak performance was mainly due to poor Proton car sales.
Proton ended the day up 0.14 rgt or 3 pct at 4.80.

For next week...SHORT KLOFF...target 900 points...

For CPO Market going down...target 1550 points near term...

Regard

Anthony Wong

Kuala Lumpur shares close flat ahead of interest rate decision - UPDATE 24/8/2006
- Share prices closed little changed in thin
trade as investors awaited cautiously the central bank's decision on interest
rates, due out tomorrow, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed down 0.13 points at 948.13.
The FTSE Bursa Malaysia 30 large-cap was up 6.08 points or 0.10 pct at 6,
141.72.
The second board index was down 0.22 points or 0.26 pct at 83.89.
The financial sector sub-index fell 15.17 points or 0.2 pct to 7493.8.
Trading volume was 353.26 mln shares valued 480.81 mln rgt.
Losers outnumbered gainers 407 to 261, with 342 stocks unchanged and 309
counters untraded.
Bank Negara Malaysia will be holding its sixth monetary meeting for the
year tomorrow. The central bank's overnight policy rate has stood at 3.50 pct
since May this year.
"I don't think the central bank will raise the key rate tomorrow as the
governor has mentioned several times that the inflation rate is likely to
moderate in the second half and there is no urgency to raise the rate," an
economist with a local bank-based brokerage said.
Bank Negara Malaysia governor Zeti Akhtar Aziz on Tuesday said Malaysia's
inflation is likely to moderate in the second half, given limited evidence of
demand-led inflation.
The brokerage analyst said if the central bank raises its rate, the
market, which has not factored in the possibility of such a move, is likely
to react negatively.
Among key blue chips, Maybank was steady ahead of its full-year to June
results, with the stock closing at 10.80 rgt.
National utilities firm Tenaga was flat at 9.20 rgt and Telekom Malaysia
was unchanged at 9.05 rgt.
Maxis was lower after posting less than exciting first-half results, with
the stock down 0.05 rgt at 8.85.
"Although (Indian unit) Aircel is expected to see strong subscriber
growth ... (Indonesian operation) Natrindo Telepon Seluler remains a
challenging investment, and uncertainty on its start-up losses increases
overall forecast risk," Kenanga Securities said in a research note.
The research house said it is keeping a "hold" call for Maxis with a fair
value of 9.05 rgt.
KNM Group ended the day sharply higher, up 0.60 rgt or 7.69 pct at 8.40,
after posting a five-fold rise in its interim net profit.
Internet-based surveillance systems provider Mobif was sharply lower,
ending the day down 0.12 rgt or 11.43 pct at 0.93.
Genting rose following a report by Rating Agency Malaysia that the gaming
operator has no intention to raise its stake in property firm Landmarks.
Earlier this week, Genting said it has acquired a 16.65 pct stake in
Landmarks.
Genting was up 0.20 rgt at 24.70 while Landmarks fell 0.08 rgt or 4.49
pct to 1.70.
National car dealer Edaran Otomobil Nasional (EON) lost 0.12 rgt or 5.41
pct to 2.10 after posting a sharp decline in its interim net profit. National
car maker Proton lost 0.04 rgt to 4.66.
"Going forward, we expect a weaker performance (by EON) from slower sales
despite a potential rebound in motor sales in the second half," said Wan
Azhar Mustapha, an automotive sector analyst at OSK Securities, in a research
note.
Gaming operator Magnum 4D ended the day higher on improved interim
results, as well as dividend pay-out, dealers said. The stock rose 0.10 rgt
or 4.17 pct to 2.50.

For tomorrow...SHORT KLOFF...target 900 points...

For CPO market...near term target 1550 points...

Regard

Anthony Wong

Kuala Lumpur shares close firmer as interest rate worries ease - UPDATE 23/8/2006
- Share prices closed slightly higher as worries
over high interest rates eased after the central bank governor said inflation
is likely to moderate in the second half of the year, dealers said.
Bank Negara Malaysia governor Zeti Akhtar Aziz also said in her keynote
speech at the 2006 dialogue session with insurers and "takaful" operators
yesterday that the bank's monetary policy will continue to promote
sustainable growth in an environment of price stability.
The central bank will decide on its interest rate this Friday.
The Kuala Lumpur Composite Index (KLCI) closed up 3.24 points or 0.34 pct
at 948.26.
Dealers said, however, judging from today's light trading volume, the
main index is likely to continue to trade in a tight range in the near term.
The FTSE Bursa Malaysia 30 large-cap index was up 27.66 points or 0.45
pct at 6135.64.
The second board index was down 0.32 point or 0.38 pct at 84.11.
Trading volume was 394.642 mln shares valued at 541.681 mln rgt.
Losers outnumbered gainers 362 to 302, with 348 stocks unchanged and 308
counters untraded.
The finance index closed up 1.52 points at 7487.98.
A dealer at a local brokerage said she expects the central bank will
maintain its overnight policy rate at 3.50 pct in the upcoming monetary
meeting as she believes the monetary regulator will be more concerned about
sustaining economic growth for the time being.
The market will also watch a further stream of earnings results in the
coming days, including those of Maybank's full-year results due out tomorrow,
dealers said.
Banking sector analyst Chan Ken Yew at OSK Securities said Maybank's
full-year net profit is likely to be around 2.6 bln rgt.
Maybank closed steady at 10.80 rgt.
"The banking group has made some 1.95 bln rgt (net profit) in the first
nine months; we expect its full-year net profit to slightly outperform our
estimate," Chan said.
Chan said he has a "neutral" call for Maybank, with a fair value pegged
at 11.50 rgt.
National utilities firm Tenaga was higher, rising 0.05 rgt to 9.20 and
Telekom Malaysia gained 0.10 or 1.12 pct to 9.05.
Maxis rose 0.10 rgt or 1.14 pct to 8.90 ahead of its first-half to June
results. The mobilephone network provider announced after the market closed
today that its first-half net profit rose to 960.00 mln rgt from 831.00 mln a
year earlier.
AirAsia was down 0.02 rgt or 1.45 pct at 1.36. The budget carrier will
announce its full-year to June results by the end of the week.
WWE Holding was sharply higher after posting a significant increase in
its nine-month to June net profit, dealers said. The stock rose 0.085 rgt or
12.14 pct to 0.785.
Technodex was sharply higher on its Mesdaq debut, with the stock up 0.075
rgt or 18.75 pct at 0.475, compared with its offer price of 0.40 rgt.
Elsewhere, Malaysia's total vehicle sales fell 5.09 pct in July,
according to data issued by Malaysian Automotive Association.
However, national brands, such as Proton and Perodua, registered positive
grwoth during the month, the MAA said.
National car maker Proton ended the day up 0.06 rgt or 1.29 pct at 4.70,
while UMW Holdings and MBM Resources, major shareholders of compact car maker
Perodua were both lower, with UMW down 0.05 rgt at 7.30 and MBM Resources
lost 0.08 rgt to 2.72.

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

For CPO market... market try to move up...target 1650 points near term...

Regard


Anthony Wong

Kuala Lumpur shares close firmer led by select blue chips; volumes light
UPDATE 22/8/2006
- Share prices closed firmer led by select blue
chips and plantation stocks, though volumes were light ahead of key economic
data and corporate results announcements later this month, dealers said.
The central bank will release second-quarter GDP data at the end of the
month.
The Kuala Lumpur Composite Index ended the day up 2.41 points or 0.26 pct
at 945.02.
The FTSE Bursa Malaysia 30 large-cap was up 14.21 points or 0.23 pct at
6107.98.
The second board index was down 0.78 point or 0.92 pct at 84.43.
Trading volume was 385.22 mln shares valued at 695.56 mln rgt.
Gainers and losers were even at 338 stocks, while 338 stocks were
unchanged and 305 counters untraded.
A dealer at a local brokerage said the market will move sideways for the
next two weeks as investors await economic data and earnings announcements
from some big companies.
She said the main index's upside is likely to be capped at 948 points
while support is seen at the 930 to 920 range.
The dealer said she does not expect the weak quarterly results seen in
major plantation companies to have an adverse impact on investor sentiment as
fund managers expect palm oil producers' earnings next year to be benefit
from higher crude palm oil prices.
Plantation stocks were broadly higher today, with PPB Oil Palms rising 0.
15 rgt or 1.91 pct to 8.00, IOI Corp gaining 0.10 rgt or 0.62 pct to 16.20
and Golden Hope up 0.02 rgt to 4.82.
Maxis Communications rose 0.15 rgt or 1.73 pct to 8.80 ahead of its
second-quarter results tomorrow.
AirAsia was sharply higher despite some worries over the budget carrier's
earnings prospects after Malaysia Airlines launched lower fares on certain
routes. The stock was up 0.03 rgt or 2.22 pct to 1.38.
AirAsia will announce its year to June results later this week.
Malaysia Airlines rose sharply on follow-through buying, ended the day up
0.08 rgt or 2.74 pct to 3.00.
Telekom Malaysia lost 0.05 rgt to 8.95 as investors locked in profits
after yesterday's gains, while Maybank rose 0.10 rgt to 10.80 ahead its
full-year results and Tenaga was steady at 9.15 rgt.
Gaming operator Tanjong rose 0.20 rgt or 1.52 pct to 13.40, British
American Tobacco gained 0.25 rgt or 0.59 pct to 42.75 and Resorts was up 0.20
rgt or 1.67 pct to 12.20.

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

For CPO market...short term not good...target 1550 points...

Regard

Anthony Wong

Kuala Lumpur shares close flat on caution ahead of results, rate decision
UPDATE 21/8/2006
- Share prices closed flat in thin trade ahead of
earnings results from some big companies this week and the central bank's
interest rate decision this Friday, dealers said.
The Kuala Lumpur Composite Index ended the day up 0.61 point at 942.61.
The FTSE Bursa Malaysia 30 large-cap was up 9.64 points or 0.16 pct at 6,
106.02.
The second board index was down 0.31 point or 0.36 pct at 85.21.
Trading volume was 435.71 mln shares valued at 629.92 mln rgt.
Losers outnumbered gainers 361 to 304, with 338 stocks unchanged and 314
counters untraded.
"We expect corporate earnings to meet analysts forecasts this time around
(compared to the preceding quarter). In that sense, the market should be
supported quite well," said Michael Lai, associate director of investment at
Fortress Capital Asset Management.
Lai said he does not expect interest rate movement to have a major impact
on the market as the central bank's key overnight policy rate is still
considered low when compared with the rates in neighbouring countries.
"We are not worried about the (outcome) of the upcoming central bank's
meeting. As long as the rate remains below 4 pct, it will continue to support
growth," Lai said.
The central bank will hold its sixth monetary meeting this year on August
25.
The bank has held its key rate steady at 3.50 pct in the last meeting.
Meanwhile, inflation has edged up to 4.1 pct in July, from 3.9 pct in June.
Among heavyweights, Maybank was steady at 10.70 rgt on volume of 1.38 mln
shares. The banking group is expected to release its full-year results later
in the week.
Telekom Malaysia gained 0.15 rgt or 1.69 pct to 9.00 after the
state-owned firm said it will receive a total of 700 mln rgt in cash under
its unit Celcom Malaysia Bhd's capital repayment.
Tenaga was down 0.05 rgt at 9.15 on volume of 4.7 mln shares.
Rashid Hussain Bhd (RHB) and Utama Banking Group were both sharply higher
on speculation that the latter is holding out for higher price in its
negotiations with the Employees Provident Fund on its stake in RHB.
RHB rose 0.18 rgt or 19.15 pct to 1.12 on volume of 5.46 mln shares,
while Utama Banking gained 0.14 rgt or 15.58 pct to 1.04 on volume of 3.78
mln shares.

RHB Capital, the holding company of commercial banking entity RHB Bank,
was up 0.11 rgt or 4.26 pct at 2.69 on volume of 939,500 shares.
Pantai Holdings rose 0.06 rgt or 2.61 pct to 2.36. The company saw two
blocks of shares changing hands off-market today at prices ranging from 2.30
to 2.34 rgt.
Landmarks was lower on speculation that the Genting Group acquired a
substantial stake in the property firm for 160 mln rgt. Genting confirmed the
acquisition after market close.
Malaysia Airlines was sharply higher on news that the national carrier
has increased its domestic air fares across the board from today. The stock
rose 0.13 rgt or 4.66 pct to 2.92 on volume of 79,400 shares.


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

For CPO market, range bound trade expected...

Regard

Anthony Wong

Kuala Lumpur shares close flat amid speculative jitters, Industrial Plan
-UPDATE 18/8/2006
- Share prices closed little changed in a market
generally held in a tight range by concerns that regulators might come down
hard on highly speculative stocks, while the Third Industrial Plan announced
in midafternoon hardly affected trading sentiment, dealers said.
The market is expected to remain quiet next week as investors fully
digest the content of the industrial master plan, they said.
The Kuala Lumpur Composite Index (KLCI) closed down 0.08 points at 942.
00.
For the week, the index closed down 0.27 points or 0.03 pct.
The FTSE Bursa Malaysia-30 large-cap index fell 1.94 points to 6,096.38,
while the second board index was down 0.98 points at 85.52 .
Mobif over the last two days has lost more than 60 pct of its value to
end at 1.24, after Bursa queried the company for unusual trading of its
shares.
Losers outnumbered gainers 359 to 325, with 357 stocks unchanged and 276
counters untraded.
Trading volume was 455.14 mln shares valued at 607.37 mln rgt.
TA Securities technical analyst Stephen Soo said the market is generally
poised to digest the substance of the Industrial Master Plan, which may send
many investors to the sidelines in coming sessions as they also await further
announcements of more corporate earnings results.
He also added that: "Sentiment on lower liners remains weak as retail
investors worry that regulators may decide to designate highly speculative
counters."
"This has also filtered through to the blue chips where gains have
started to come off," he added.
Soo said the sharp drop in certain speculative stocks is also likely to
result in further selling next week, dragging drag down the market.
TA Securities said in a note to clients there were worries that
regulators may again designate highly speculative counters to prevent
retailers from being trapped in severe sell-offs following unexplained sharp
rallies, as seen in the case of Mobif shares.
A local brokerage dealer added that trading will continue to be
rangebound next week, with investors maintaining a-wait-and-see approach
ahead of fresh leads.
Among blue chips, Nestle closed down 0.30 rgt at 24.o0, DIGI shed 0.20
rgt to 11.80 and Kuala Lumpur Kepong slipped 0.20 rgt to 11.40.
Shell Refining Co Malaysia Bhd was higher by 0.20 rgt at 10.80 following
the company's improved net profit for the second quarter to June and its
dividend pay-out.
UMW Holdings Bhd was up 0.05 rgt at 7.40 on its report of a 34 pct
increase in its first-half net profit to 125.45 mln rgt.
Esso Malaysia Bhd surged 0.33 rgt or 14.10 pct to 2.67 after posting a
net profit of 93.27 mln rgt for the second quarter to June, reversing a net
loss of 8.03 mln rgt in the preceding quarter.
Mobif Bhd was sharply lower by 0.53 rgt or 29.94 pct at 1.24 on extended
selling following yesterday's sharp falls.
Iris Corp dropped 0.02 rgt or 7.55 pct to 0.245 on follow-through selling
as investors remained cautious on highly speculative lower liners.

For next week...SHORT KLOFF...target 900 points near term...

For CPO Market...market must move up after recent fall...target RM1700 for October contract in near term...

Regard

Anthony Wong

Kuala Lumpur shares close mixed on trading fears; KLCI firmer - UPDATE 17/8/2006
- Share prices closed mixed on concerns that the
authorities will come down hard on speculative stocks after Bursa queried
Mobif about unusual market activity, with the stock falling by more than 50
pct today, dealers said.
The benchmark index, however, closed firmer on support from local
institutions which were bullish that the upcoming budget will give the
economy and businesses a boost.
The Kuala Lumpur Composite Index (KLCI) closed up 4.10 points or 0.44 pct
at 942.08.
The FTSE Bursa Malaysia 30 large-cap index rose 27.54 points to 6,098.32,
while the second board index was down 1.11 points at 86.50.
The mining sector posted the biggest gains, with the sub-index up 26.43
points or 6.38 pct at 440.53.
Losers outnumbered gainers 482 to 243, with 302 stocks unchanged.
Trading volume was 562.37 mln shares valued at 838.26 mln rgt.
A local brokerage dealer said the weaker sentiment in the broader market
is due to concerns that the authorities will come hard on speculative
counters after it queried Mobif for the unusual market activity regarding its
share price in recent days.
"Investors do not want to be caught in a situation where a counter is
designated like Iris Corp shares months back. It is horrifying even to think
of it, let alone be caught in such a situation," he added.
He said he is of the view that this is holding back investors, especially
from taking up strong positions.
"I believe the strong interest in heavyweight blue chips was coming
mainly from local institutional investors who have a more bullish view of the
market," said EON Capital Securities head of research Pong Teng Siew.
"Their bullish view stems from expectations that the country's upcoming
budget will be positive in pump-priming the economy and businesses, providing
a good impetus for the market," Pong added.
TA Securities said in a note to clients that, despite the strong rally in
US stocks on the back of an unexpected decline in producer prices, selling
drove down some other blue chips given concerns that domestic inflation has
yet to peak, despite assurances to the contrary from the Bank Negara
governor.
However, TA said it views the falls as a healthy correction, since the
market's technical momentum may still be at an overbought level and needs to
see significant profit-taking.
TA said the market can expect the KLCI's immediate support level to be
around 930 points.
Among blue chips, Genting was up 0.50 rgt at 24.70, BAT Malaysia rose 0.
50 rgt to 41.50 and Nestle advanced 0.30 rgt to 24.30.
Mobif fell sharply by 1.83 rgt or 50.83 pct to 1.77, following the query
from the stock exchange about unusual market activity.
IOI Corp was lower by 0.20 rgt at 16.40 on profit-taking, after posting
weaker full-year net profit.
IJM Corp rose 0.10 rgt to 5.85, after posting an improved net profit for
the first quarter to June.
Malaysian Pacific Industries gained 0.15 rgt to 10.10, after posting a
126 pct rise in full-year net profit.

For tomorrow...SHORT KLOFF if market move higher...target 900 points...

For CPO market... market must rebound after sharp fall...target RM1650 near term...

Regard


Anthony Wong

Kuala Lumpur shares close lower on caution/profit-taking before CPI data
-UPDATE 16/8/2006
- Share prices closed lower on extended
profit-taking in blue chips as the market traded cautiously for most of the
day before the government released the inflation figures for July, dealers
said.
The Kuala Lumpur Composite Index (KLCI) closed down 5.96 points or 0.63
pct at 937.98.
The FTSE Bursa Malaysia-30 large cap index fell 34.52 points to 6,070.78,
while the second board index was down 0.29 point at 87.61.
The industrial sector posted the biggest losses, with the sub-index down
20.59 points or 1.03 pct at 1,969.66, followed by the consumer sector with a
loss of 0.58 pct.
Losers outnumbered gainers 394 to 292, with 348 stocks unchanged and 284
counters untraded. Trading volume was 496.81 mln shares valued at
737.52 mln rgt.
The Statistics Department announced just as the market was closing that
Malaysia's consumer price index in July rose 4.1 pct year-on-year, and was up
by a slight 0.2 pct month-on-month.
Given that the market had no chance to react to the figures, today's
profit-taking might continue its momentum tomorrow as the inflation rate
announced for July slightly exceeded some expectations, and as investors take
positions for the next announcement, which is on the 2007 Budget, due
September 1, dealers said.
"Profit-taking could likely continue tomorrow as investors might lock in
previous gains in the runup to the announcement of the national budget on
September 1. It's (going to be) a snowball effect -- profit-taking spurs more
people to lock in profits," a local brokerage dealer said.
He said selling pressure on blue chips could see the market testing the
935-point level tomorrow as plantation stocks are likely to ease further
after having made sharp gains.
Among key blue chips, BAT Malaysia fell 1.25 rgt to 41.00 and Genting
eased 0.50 rgt to 24.20, while Kuala Lumpur Kepong shed 0.30 rgt to 11.30.
Other notable losses were those of Tanjong, which dropped 0.30 rgt to 13.
00 ; Resorts World, which fell 0.10 rgt to 11.60; Roadbuilder, down 0.10 rgt
at 2.12; and Kulim, which inched 0.12 rgt lower to 4.30.
Top Glove was sharply lower by 0.35 rgt at 8.65 on a report that the
Immigration Department has found 2,424 illegal workers without valid work
permits at a manufacturing plant of a listed rubber glove maker, and that
immigration officers have detained the company's managing director and legal
manager to help with their investigations.
Mah Sing Group Bhd was steady at 2.60 despite posting a strong set of
results for the second quarter to June.
Green Packet Bhd was higher by 0.12 rgt at 3.80 after posting stronger
results for the second quarter to June.
Asia Pacific Land Bhd (AP Land) was down 0.03 rgt at 0.355 on
profit-taking after it rose earlier in active trade following its decision to
sell properties for 680 mln rgt to cut its debt.
Merge Energy Bhd was higher by a sharp 0.025 or 6.67 pct at 0.40 on news
that a unit has won a 208.75 mln rgt contract

For tomorrow...look for market rebound...target 950 points...

For CPO market...after sharp profit taking and building base...look for long run to 17oo points for october contract...

Regard

Anthony Wong

Kuala Lumpur shares close lower on caution ahead of July CPI data - UPDATE 15/8/2006
- Share prices closed lower as investors locked
in profits in blue chips ahead of Malaysia's July consumer price index data
(CPI) data due tomorrow, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed down 2.06 points or 0.22
pct at 943.94.
The FTSE Bursa Malaysia-30 large cap index fell 23.14 points to 6,105.30,
while the second board index was down 0.57 point at 87.90.
The finance sector posted the biggest losses, with the sub-index down 56.
03 points or 0.75 pct at 7,433.09, followed by the industrial sector with a
loss of 0.60 pct.
Losers outnumbered gainers 430 to 268, with 323 stocks unchanged and 297
counters untraded. Trading volume was 421.88 mln shares valued at
607.75 mln rgt.
"The profit-taking is expected and is likely to heighten tomorrow if CPI
figures are above market expectations at between 3.6 pct and 4 pct," a local
brokerage dealer said.
"Anything above that would send worrying signals of higher inflation
eating into corporate earnings and slowing consumer spending," he said.
He said plantation stocks will continue to face selling pressure
following recent gains on the back of rising crude palm oil prices.
EON Capital head of research Pong Teng Siew said he expects the market to
remain rangebound in for the next one to two days as investors wait for
inflation figures from Malaysia as well as the US.
He estimates that domestic inflation for July would come in at between 3.
5 pct and 4.0 pct, while the average for the full-year is seen at under 4.0
pct
Among key blue chips, Maybank fell 0.20 rgt to 10.60 and Tenaga eased 0.
05 rgt to 9.15, while Resort World shed 0.20 rgt to 11.70.
Other notable losses were those of Transmile, which dropped 0.20 rgt to
12.20; PPB Oil Palms, which fell 0.15 rgt to 8.00; Kulim, down 0.10 rgt at 4.
42; and Digi, which inched 0.10 rgt lower to 11.90.
Bursa Malaysia was up 0.05 rgt at 5.85 following its CEO's reported
upbeat comments on earnings prospects.
CB Industrial Product rose 0.12 rgt to 3.20 on news that its unit has won
two contracts, while MISC Bhd shed 0.15 rgt to 8.65 after announcing
weaker-than-expected net profit for the first quarter to June.
Favelle Favco was up 0.14 rgt or 25.45 pct at 0.69 in active trade on its
second board debut.

For tomorrow...SHORT KLOFF if reach 946 point...target 900 points...

For CPO market...BULL WILL BE BACK...target RM 1700...

Regard

Anthony Wong

Kuala Lumpur shares close firmer led by plantations sector - UPDATE 14/8/2006
- Share prices closed firmer in rangebound trade,
with plantation stocks supporting the benchmark index amid rising crude palm
oil prices, dealer said.
The Kuala Lumpur Composite Index (KLCI) closed up 3.73 points or 0.40 pct
at 946.
The FTSE Bursa Malaysia-30 large cap index gained 26.03 points to 6128.
44, while the second board index was down 0.01 points at 88.47.
The plantations sector posted the biggest gains, with the sub-index up 42.
62 points or 1.16 pct at 3,742.39, followed by the industrial sector with a
gain of 0.76 pct. The construction sector was down 0.15 pct.
Losers outnumbered gainers 368 to 336, with 334 stocks unchanged and 279
counters untraded. Trading volume was 514.63 mln shares valued at 634.
50 mln rgt
"I suspect buying interest in blue chips is coming from local institutions
that want to support the market at current levels," a local brokerage dealer
said.
He said interest in plantations stocks helped to spur interest in select
blue chips, a phenomenon likely to continue in the next few days.
"Plantation stocks are likely to post further gains in the next few days,
with some rotational play in cheaper counters like Kumpulan Guthrie," he
added.

TA Securities said in a note to clients that any market movement upward
is expected to be met with relatively strong selling pressure as investors
are likely to sell on strength for now.
"Hence, a further rise toward the more significant resistance of 950,
backed by weak buying momentum, will prove unsustainable," it said.
Among key blue chips, Maybank gained 0.10 rgt to 10.80 and Tenaga rose 0.
05 rgt to 9.20, while Telekom Malaysia was steady at 9.10 rgt.
AMMB Holdings Bhd was flat at 2.43 rgt on mild profit-taking after
gaining earlier following its first-quarter to June results announcement.
Iris Corp Bhd fell sharply after Bursa Malaysia advised investors to
exercise caution in trading the company's shares. The stock was down 0.05 rgt
or 11.11 pct at 0.40.
ECM Libra Avenue Bhd was down 0.035 rgt at 0.665 on reports that three
key shareholders have sold off their stakes in the company.
AmInvestment Group was flat at 1.66 after posting weaker-than-expected
net profit for the first quarter to June.
DRB-Hicom Bhd was down 0.01 rgt at 1.37 on profit taking after gaining
earlier on speculation that Syed Mokhtar Al-Bukhary, a major shareholder of
DRB-Hicom, is considering acquiring a stake in national car maker Proton.

For tomorrow...any upward is good chance to SHORT KLOFF...target 900 points


For CPO market...BULL is back on tomorrow...target RM1700...

Regard


Anthony Wong

Kuala Lumpur shares close flat amid security concerns ahead of weekend -
UPDATE 11/08/2006
- Share prices closed flat as speculative gains
made by plantation stocks were offset by last-minute selling driven by
uncertainty over the global security situation after the foiled terrorist
plot in London, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed down 0.72 points at 942.
27. For the week, the index closed up 4.34 points or 0.46 pct.
The FTSE Bursa Malaysia-30 large cap index was down 13.57 points or 0.22
pct at 6,102.41.
The second board index was down 0.44 points or 0.49 pct at 88.92.
Gainers outnumbered losers 354 to 326, with 345 stocks unchanged.
Trading volume was 620.65 mln shares valued at 687.02 mln rgt.
Dealers said although the foiled bombing attempt at Heathrow airport by
suspected terrorists had affected the day's buying sentiment, the near-term
outlook for the local equity market is likely to be driven more by domestic
leads, such as the upcoming 2007 budget announcement on September 1,
speculative play in the plantation sector, and the central bank's next move
on interest rates.
Gains in plantation stocks showed no signs of abating, they said. Batu
Kawan jumped 4.73 pct or 0.40 rgt to 8.85, United Plantation climbed 0.30
rgt or 3.70 pct to 8.40 and IOI Corp gained 0.20 rgt or 1.23 pct to 16.50.
"We reiterate our positive view on the sector given the promising outlook
and rising demand," Isaac Chow, a plantation sector analyst at HLG
Securities, said in a research note.
He said that after the sector's recent ascent, plantation stocks' prices
now look 'stretched.'
"We see limited upside (for the sector) at current price levels and
advice investors to wait for a price correction before accumulating again,"
he said.
Dealers said that next week, investors will be looking at July consumer
price index (CPI) data and June manufacturing sales figures, which are due
out on August 16 and 17, respectively.
"We expect the July CPI (growth rate) to stay on the same level of 3.9
pct as in June," Sia Ket Ee, an economist at OSK Securities, said.
He also said that the central bank is likely to hold its overnight policy
rate steady in the upcoming monetary policy meeting on August 25.
The equity market will welcome any news of a rate hike pause, he added.
"Our economy has been holding up quite well so far, and we expect the
equity market to reflect these healthy fundamentals -- our house has a
year-end target of 970 points for the benchmark KLCI," Sia said.
Among the key blue chips, Maybank fell 0.20 rgt to 10.70 and Tenaga lost
0.05 rgt to 9.15, while Telekom Malaysia was steady at 9.10 rgt.
Airline stocks were broadly lower after the alleged terrorist plots at
UK airports, which had spread fears to other airports in Europe and the US as
well. Malaysia Airlines fell 0.02 rgt to 2.78, AirAsia was down 0.01 rgt at 1.
33 and Malaysia Airport was down 0.02 rgt at 1.80.
Cycle & Carriage Bintang was sharply higher on its proposed special
dividend payment, rising 1.53 rgt or 62.45 pct to 3.98.
Scomi was lower on profit-taking. The stock closed the day down 0.035 rgt
at 0.995. While MRCB was unchanged at 0.735 rgt.
At the close, the ringgit was quoted at 3.6760/6780 to the dollar,
weakening from yesterday's closing of 3.6605/6620.


For next week...SHOTR KLOFF when reach 940 points...target 900 points...

For CPO market...BULL RUN ahead...target 1750 points...

Regard

Anthony Wong

Kuala Lumpur shares close firmer, supported by plantation sector - UPDATE 10/8/2006
- Share prices closed the day slightly higher,
with last-minute buying supporting the benchmark index as plantation stocks
gained momentum on the back of stronger crude palm oil (CPO) futures prices,
dealers said.
The Kuala Lumpur Composite Index closed up 1.73 points or 0.18 pct at 942.
99.
The FTSE Bursa Malaysia-30 large cap was up 8.85 points or 0.14 pct at
6115.98.
The second board index was up 0.04 points or 0.04 pct at 88.92.
Trading volume was 556.29 mln shares valued at 794.18 mln rgt.
Gainers outnumbered losers 367 to 326, with 335 stocks unchanged.
Leading the day's gains was the plantations sector, with the sub-index up
53.77 points or 1.52 pct at 3,592.47.
Kuala Lumpur Kepong, one of the biggest palm oil producers in the country
rose 0.30 rgt or 2.70 pct to 11.40, PPB Oil Palms advanced 0.20 rgt or 2.58
pct to 7.95, Golden Hope added 0.18 rgt or 4.05 pct to 4.62 and Guthrie
climbed 0.10 rgt or 3.25 pct to 3.18.
"CPO futures have been rising significantly since mid-June amid growing
optimism about biodiesel demand," a dealer at a Malaysian brokerage said.
Latest production figures show that the country's palm oil inventory has
come down, and investors are expecting CPO prices to trend higher as demand
for palm oil grows, along with the use of biodiesel, the dealer said.
Among the key blue chips, Telekom Malaysia was steady at 9.10 rgt, while
Tenaga added 0.05 rgt to 9.20 and Maybank edged up 0.10 to 10.90
Petronas Gas was lower after the company posted unexciting first-quarter
to June results. The stock fell 0.10 rgt or 1.14 pct to 8.70.
Cycle & Carriage Bintang was suspended in the afternoon, after the stock
ended the morning sharply higher at 2.45, up 0.12 rgt or 5.15 pct. At the
midday break, the company announced a 203 sen special dividend pay-out.
Scomi Group rose sharply after announcing plans to list its oilfield
services unit on the Singapore Stock Exchange to raise new funds. The stock
closed the day up 0.04 rgt or 4.04 pct at 1.03.
AMMB ended the day lower, falling 0.04 rgt or 1.61 pct to 2.44, while
AmInvestment was steady at 1.67 rgt. Both companies are expected to release
their first-quarter results tomorrow, dealers said.

For tomorrow...SHORT KLOFF when reach 940 points...short term target 900 points...

For CPO market...market will move higher after today profit taking...target 1700 points...

Regard


Anthony Wong

Kuala Lumpur shares close flat as market digests US Fed rate - UPDATE 9/8/2006
- Share prices closed little changed in
rangebound trade as the market began to digest the US Federal Reserve's
decision to keep its key rate unchanged, with the benchmark index slightly
supported by defensive buying of large-cap blue chips, dealers said.
The Kuala Lumpur Composite Index closed the day up 2.18 points or 0.23
pct at 941.26. The FTSE Bursa Malaysia large-cap 30 Index was up 15.86 points
at 6,107.13, while the second board index was down 0.38 points or 0.43 pct at
88.88 .
Losers outnumbered gainers 364 to 260, with 368 stocks unchanged and 326
counters untraded.
Trading volume was 400.05 mln shares valued at 540.50 mln rgt.
"The market seems to be quite stagnant, not having a clear direction," a
local brokerage dealer said.
He said trading is expected to remain dull and rangebound tomorrow as
investors continue to look for fresh leads before committing to any solid
positions in the market.
Dealer said investors will continue to watch corporate earnings results
for leads, and keep an eye out for any new projects to be announced under the
Ninth Malaysian Plan, in particular for the South Johor Economic region.
EON Capital head of research Pong Teng Siew said investors remained
bullish as far as the country's bio-diesel potential is concerned, as well as
on the government policy shift toward domestic spending under the Malaysia
Plan to spur economic activity.
"Even though trading was quiet, buying interest in blue chips is a good
sign that the market's undertone remains firm," Pong added.
TA Securities, in a note to clients, said narrow-range trading is likely
to stretch for another day as investors continue to digest the implications
of the decision by the US to leave the key Fed rate unchanged.
Persistent concerns that inflationary pressure from surging crude oil
prices will adversely impact the economy, and a slowdown in corporate profit
growth could continue to restrict the local market's upside, the brokerage
added.
Among blue chips, MISC-O1 gained 0.25 rgt to 8.70 on volume of 1.52 mln
shares. BAT Malaysia was up 0.25 rgt at 42.50 while Genting advanced 0.20 rgt
to 25.00 on 185,100 shares. Digi.Com rose 0.20 rgt to 12.00 on 364,900 shares.
Titan Chemicals Corp was down 0.04 rgt at 1.14 after the company posted a
steep 70 pct drop in net profit for the second quarter to June.
Scomi Marine firmed 0.05 rgt to 1.11 ahead of the announcement by parent
Scomi Group Bhd of a "corporate exercise". The parent announced after the
close that it plans to raise up to 600 mln rgt via the listing of its
oilfield services divisions on the Singapore Exchange.
TH Group fell 0.015 rgt to 0.61 after posting a net loss of 4.75 mln rgt
for the second quarter to June, reversing a profit of 5.75 mln rgt a year
earlier.
Heitech Padu firmed 0.02 rgt to 1.22 after winning a 39.31 mln rgt
maintenance contract.
Dutch Lady Milk Industrial edged up 0.50 rgt to 9.90 after reporting a 39
pct increase in net profit for the second quarter.
At the close, the ringgit was quoted at 3.6670/6720 to the dollar,
compared with yesterday's close of 3.6705/6755.

For tomorrow...carefull of profit taking...target 900 points...

For CPO market...short CPO if reach RM1700...wait for profit taking...

Kuala Lumpur shares close flat ahead of US rate decision - UPDATE 8/8/2006
- Share prices closed flat, with the benchmark
index shifting slightly into positive territory after being confined in a
tight range, while trading volumes remained thin as investors cautiously
awaited the outcome of tonight's Federal Open Market Committee (FOMC)
meeting, dealers said.
The Kuala Lumpur Composite Index ended the day up 0.60 points at 939.08.
The FTSE Bursa Malaysia large-cap 30 Index was up 5.54 points or 0.09 pct
at 6091.27.
The second board index was down 0.34 point or 0.38 pct at 89.26.
Losers outnumbered gainers 341 to 298, with 359 stocks unchanged and 319
counters untraded. Trading volume was 425.58 mln shares
Dealers said investors remained wary despite higher-than-expected June
industrial output growth, and support for the benchmark KLCI was provided
only by interest in select blue chips.
A local fund manager said that in the immediate term, the market's upside
is likely to be capped by profit-taking, with resistance seen at 940-945
points.
Notwithstanding the higher-than-expected June industrial output growth
rate, analysts expect the country's economic growth to slow in the second
half due to high oil prices and as US economic activity loses steam.
"Our view remains cautiously optimistic, we don't think the government's
target of 6.0 pct GDP growth is achievable," Wan Suhaimie, an economist at
K&N Kenanga, said.
Meanwhile, Malaysia's central bank governor Zeti Akhtar Aziz was quoted
by Bernama news agency as saying that domestic economic growth is likely to
remain steady in the second half.
As long as the inflation rate remains under control, the interest rate
will be kept steady, she said.
The central bank will hold its sixth monetary policy meeting on August
25, the outcome of which is likely to be influenced by the US Fed rate
decision later tonight, dealers said.
Banking stocks, which are interest rate-sensitive, ended the day broadly
lower, with Maybank down 0.10 rgt at 10.70, Hong Leong Bank down 0.10 rgt at
5.20 and Public Bank down 0.05 rgt at 6.65.
Among blue chips, MISC-O1 gained 0.10 rgt to 8.45 on volume of 819,300
shares. Tenaga was steady at 9.15 rgt on 2.53 mln shares, while Telekom
Malaysia firmed 0.05 rgt to 9.10 on 1.47 mln shares.
Degem ended the day sharply higher as investors cheered the company's
decision to pay out a special interim dividend of 33 pct. The stock was up 0.
115 rgt or 12.17 pct at 1.06.
Landmarks rebounded from yesterday's sharp fall, rising 0.05 rgt or 3.09
pct to 1.67.
PIE Industrial was higher on improved second-quarter to June results,
adding 0.06 rgt or 2.51 pct to 2.45.
Malaysian Plantations, the holding company of Alliance Banking Group was
higher on its stronger first-quarter results, adding 0.04 rgt or 1.95 pct to
2.09.
At the close, the ringgit was quoted at 3.6670/6720 to the dollar,
compared with yesterday's close of 3.6645/6695 .


For tomorrow...market expecting to move down...target 900 points...


For CPO market...profit taking take place...short CPO if reach 1680 points...

Regard


Anthony Wong

Down Trend Market

Kuala Lumpur shares close flat ahead of industrial data, US rate decision
UPDATE 7/8/2006
- Share prices closed little changed in thin
trade ahead of this week's Federal Open Market Committee (FOMC) meeting, as
well as the release of June industrial production data here tomorrow, dealers
said.
For the immediate-term outlook, they said that, the market is likely to
continue to trade in a tight range with a focus on continued rotational play
in the plantation, construction as well as oil and gas stocks.
The Kuala Lumpur Composite Index (KLCI) closed up 0.49 points at 938.48,
off a high of 942.22 points and a low of 937.44 points.
The FTSE Bursa Malaysia large-cap 30 Index was down 1.31 points or 0.02
pct at 6,085.73.
The second board index was down 0.5 points or 0.55 pct at 89.60.
Trading volume was 431.38 mln shares valued at 522.4 mln rgt.
Losers outnumbered gainers 428 to 257, with 321 counters unchanged and
312 stocks untraded.
"We believe the US Fed rate will be left unchanged at 5.25 pct, judging
from the lower-than-expected addition in July employment and high
unemployment rate (in the US)" said Stephen Soo, a technical analyst at TA
Securities.
Meanwhile, Malaysia's June industrial production data is due out
tomorrow, dealers said, with analysts expecting industrial production in June
to grow at a slower pace amid high oil prices.
They said the June trade figures announced last week have already
indicated a softer trend in exports growth for the remainder of the year.
In addition, growth in the electronics sector is expected to slow going
forward, they said.
At the close, electronics firms were broadly lower, with Unisem down 0.01
rgt at 1.47, Globetronic down 0.005 rgt to 0.30 and AIC Corp down 0.025 rgt
at 0.69.
Among blue chips, Tenaga lost 0.05 rgt to 9.15 on volume of 879,300
shares, Telekom Malaysia was flat at 9.05 rgt on volume of 526,900 shares,
while Maybank gained 0.10 rgt to 10.80 on volume of 1.01 mln shares.
Plantation stocks continued to post solid gains, with Kulim rising 0.18
rgt or 4.29 pct to 4.38, PPB Oil Palms up 0.10 rgt at 7.60, while Kuala
Lumpur Kepong and IOI Corp were both flat at 11.00 rgt and 16.20 rgt
respectively, dealers said, with earlier gains offset by late profit-taking.
AirAsia was sharply higher on news that the budget airline expects its
passenger load to increase to 15 mln for 2007 from 9 mln projected for 2006,
given it will now operate additional domestic routes taken over from Malaysia
Airlines. The stock gained 0.03 rgt or 2.24 pct to 1.37.
Landmarks ended the day sharply lower as investors locked in profits, as
well as on the company's plans for a share placement which could be dilutive
with regard to asset value. The stock dropped 0.17 rgt or 9.50 pct to 1.62.
RHB Capital was lower after the financial group said it has proposed a
500 mln rgt private debt securities exercise to raise fresh capital. RHB
Capital was down 0.07 rgt or 2.51 pct at 2.72, while RHB was up 0.01 rgt or 0.
86 pct at 1.17.


For tomorrow...beware of market fall after straight day up for few days...SHORT KLOFF...short term target 900 points...

For CPO market...after market hit almost 1630...profit taking happen...as it bound back at the close...tomorrow we see BULL will be back...short term target 1700 points...

Regard


Anthony Wong

Kuala Lumpur shares close firmer on interest in blue chips - UPDATE 4/08/2006
- Share prices closed firmer, with blue chips
attracting interest on expectations of further gains on Wall Street and
speculation of stronger corporate results next week, dealers said.
But trading sentiment remained generally cautious, with many investors
preferring to stay on the sidelines ahead of the weekend and fresh leads,
they said.
The Kuala Lumpur Compositive Index (KLCI) closed up 2.70 pts or 0.29 pts
at 937.99, ending the week with a 0.35 pct gain from last Friday's close of
934.72.
The second board index rose 0.10 points to 90.10.
Total trading volume was 436.87 mln shares valued at 707.32 mln rgt.
Gainers outnumbered losers 353 to 302, with 361 stocks unchanged and 302
counters untraded.
The market is seen rangebound in the week ahead, with rotational and
speculative play dominating trade.
"Trading will continue to be quiet and sideways next week ahead of fresh
leads," MIDF Sisma's analyst S. Sharath said.
"Generally, people are just waiting for leads before jumping aggressively
into the market. I expect investors will be closely looking at corporate
earnings results next week for leads," he added.
Sharath also said investors will be looking at the country's June
industrial production index (IPI) figures to be relased by the Statistical
Department next Tuesday for leads.
Economists expect the IPI to grow by 4.9 pct year-on-year on the back of
growth in exports and manufacturing.
TA Securities, in a note to clients, said market gains will continue to be
capped by profit taking, partly due to a lack of strong positive leads.
"The sell-on-fact mentality should also encourage selling from investors
disappointed with the lack of positive surprises," the brokerage said.
"Continued failure of the KLCI to overcome immediate resistance at 940
will grease the downside as profit-taking increases," TA added.
Meanwhile, actively traded Mesdaq counters such as FTEC, INIX and
Nasioncom need to rebuild stronger support platforms before attempting
another recovery phase, TA said.
MEMS Technology, however, is building higher support going forward, it
added.
Among key blue chips, Resorts World closed up 0.60 rgt at 11.90, IOI
Corp added 0.20 rgt to 16.20, and Nestle advanced 0.10 rgt to 23.50.
Unisem Malaysia Bhd was up 0.04 rgt at 1.48 after Malaysia's
second-largest listed chipmaker reported a stronger set of results for the
first half to June.
Amway Malaysia Holdings gained 0.15 rgt to 6.50 after the company said it
will pay a dividend of 27.50 sen per share for the third quarter to June.
Muhibbah Engineering (M) Bhd rose 0.03 rgt to 1.45 on news that the
company has been awarded a 48.4 mln rgtsubcontract work on the existing
Penang Bridge.
Gamuda Bhd added 0.26 rgt to 3.76 on hopes the company will announce more
new projects.
UEM Builders shed 0.01rgt to 1.24 on profit-taking after it gained
earlier on follow-through interest after parent UEM Group won the second
Penang Bridge contract.
The ringgit was traded at 3.6755/6780 to the US dollar at the close,
against yesterday's closing quote of 3.6810/6860.


For next week...market is top to turn low...target 900 points near term...

For CPO Market...price may rebound after sharp falling down...near term RM 1630...

Regard


Anthony Wong

Market Down Trend Begin

Kuala Lumpur shares close flat as speculative play, bluechip support wane
UPDATE 3/08/2006
- Share prices closed little changed as
rotational, speculative play waned and only mild support for blue chips
remained to support the benchmark index, dealers said.
Many investors moved to the sidelines toward the end of trade on caution
ahead of tomorrow's release of June trade data, they said.
The Kuala Lumpur Composite Index (KLCI) gained 1.22 points or 0.13 pct to
close at 935.29. The second board index fell 0.12 points or 0.13 pct to 90.00.
Total trading volume was 550.44 mln shares valued at 736.19 mln rgt.
Losers outnumbered gainers 369 to 287, with 376 stocks unchanged and 287
counters untraded.
At the close, the ringgit was quoted at 3.6810/6860 to the dollar,
compared with yesterday's closing quote of 3.6755/6780.
Rotational, speculative interest provided some movement for the market in
morning trade, but toward the close of trade this activity lost steam due to
profit-taking, leaving only mild investor interest in select blue chips
supporting the bechmark index in the end, dealers said.
"Expectations of lower growth in exports for the month of June were
definitely hurting sentiment and making investors a bit jittery," a local
brokerage dealer said.
He said it had also caused some investors to lock in earlier gains in
blue chips and lower-liners.
Meanwhile, EON Capital research manager for charts Lee Cheng Hooi said
sporadic buying in lower-liners and speculative play are expected to continue
in the near term, which he said will lend some support to an otherwise dull
market.
"The positive news flow about government spending in new projects under
the Ninth Malaysia Plan has been coming in drips. As such, the market, I
feel, is also reacting by bits-and-pieces with no substantial share price
rises," he added.
TA Securities, in a note to clients, said the immediate KLCI resistance
level of 940 could be quite a significant hurdle, with keen profit-taking
interest checking intra-day strength.
It said a more meaningful profit-taking dip is anticipated, with the
market keeping an eye out for a downturn in daily indicators as a sell signal
at the overbought zone.
"A dip toward the 931, the recent bullish breakout point, is very likely,
but 926 ... offers better support," the brokerage said.
Among key blue chips, Genting closed down 0.20 rgt at 24.60, IOI Corp
fell 0.10 rgt to 16.00, Transmile slipped 0.10 rgt to 12.40.
Tenaga Nasional Bhd was steady at 9.20 rgt despite a media report that
the company's Indonesian operations is facing potential losses due to weak
internal controls.
UEM Builders Bhd was higher by 0.04 rgt at 1.62 in active trade on news
that the UEM Group has been awarded the second Penang Bridge project by the
government.
Telekom Malaysia Bhd was up 0.05 rgt at 9.00 after posting improved
results for the first half to June.
Ramunia Holdings Bhd was down 0.01 rgt at 1.30 despite news that its
unit, Ramunia Fabricators Sdn Bhd, has been awarded a 120 mln rgt oil and gas
fabrication contract.
YTL Corp Bhd advanced 0.06 rgt to 4.94 as traders cashed in on an earlier
rise triggered by the government's statement it will consider building a
high-speed railway between Malaysia and Singapore.


For tomorrow...as weekend...down trend may began as all positive new had been reveal...target 900 points...


For CPO market... correction may bring the price down to RM 1600 ...


Regard


Anthony Wong

Share Market Top To Turn Down

Kuala Lumpur shares close slightly lower ahead of Telekom results - UPDATE 2/08/2006
- Share prices eased back from steady morning
trade and finished slightly lower as investors kept to the sidelines for most
of the afternoon session awaiting Telekom Malaysia's first-half results,
which were announced after the market close, dealers said.
Profit-taking in blue chips and lower-liners helped weigh the market
down, they said.
The Kuala Lumpur Composite Index (KLCI) lost 1.97 points or 0.21pct to
close at 934.07. The second board index gained 0.19 points to 90.12 .
Total trading volume was 565.12 mln shares valued at 787.88 mln rgt.
Losers outnumbered gainers 367 to 300, with 350 stocks unchanged and
301counters untraded.
Telekom Malaysia closed was down 0.10 rgt at 8.95 on volume of 4.05 mln
shares. Later, the company announced its first-half to June net profit rose
to 955.04 mln rgt from 800.61 mln a year earlier, as sales grew to 7.76 bln
rgt from 6.74 bln.
Trading is expected to remain in a tight range tomorrow as investors take
a wait-and-see stance, dealers said.
"Investors are just taking a wait-and-see approach on the market ahead of
big corporate earnings announcements this month," MIDF Sisma's analyst S.
Sharath said.
"The results are expected to provide much-needed leads for the market.
Good results will help to spur buying interest," he added.
SJ Asset Management Sdn Bhd chief executive officer Meor Khairi Bazid
said trading is expected to remain lackluster tomorrow on a lack of
market-moving news. This is in line with the relatively flat performance
today of regional markets, he said.
"There is nothing much happening on the macro side and investors are
looking not so much at sectors but more at individual stocks. (Given) the
dull trade, the market will continue to see some rotational play," Meor added.
TA Securities, in a note to clients, said the current phase of
consolidation with some profit-taking will continue for a few more days
pending fresh market leads, following the recent major investment initiative
in the Southern Johor Economic Region announced recently by the Prime
Minister.
The brokerage added that the ongoing correction in speculative
lower-liners, especially in the Mesdaq sector, will tend to restrict retail
participation and limit the daily trading volume at the 500-mln shares mark.
Among key blue chips, Genting closed down 0.45 rgt at 24.80, IOI Corp
fell 0.20 rgt to 16.10, Transmile slipped 0.10 rgt to 12.50.
ISS Consulting Solutions Bhd, an integrated software solutions provider,
was down 0.09 rgt or 21.95 pct at 0.32, compared to its initial public
offering (IPO) price on its debut on the Mesdaq board.
Dialog Group eased 0.005 rgt to 0.545 after the company said its unit has
lost a potential 75 mln usd contract.
Malayan Banking added 0.10 rgt to 10.80 after the banking group said it
has become the largest card player in Malaysia following its acquisition of
American Express' local charge card operations
Wah Seong Corp fell 0.01 rgt to 2.29 despite Bursa Malaysia's decision to
include the stock in the list of KLCI component stocks.
Gamuda was up 0.02 rgt at 3.46 on news that the construction company has
won an 640 mln rgt bridge contract in Bahrain.

For tomorrow...Short KLOFF when reach 930 points...near term target 900 points

For CPO market...market is cooling off after recent gain and make some foundation...near term target 1600 point s...

Regard

Anthony Wong

KUALA LUMPUR 1/8/2006-- Share prices closed little
changed, with the benchmark index supported by local institutional interest in
select blue chips, dealers said.
Buying in blue chips picked up pace in late trade, reversing early session
losses caused by profit-taking, they said.
The market had previously been edging higher due to investment hopes
generated by the government's Ninth Malaysia Plan, including yesterday's report
that foreign firms have shown interest in investing a total of 15 bln rgt in th
Southern Johor Economic Region.
The Kuala Lumpur Composite Index (KLCI) finished the day up 0.19 points at
936.04. The second board index lost 0.31points to 89.93.
Total trading volume was 531 mln shares valued at 754.91 mln rgt.
Losers outnumbered gainers 405 to 289, with 318 stocks unchanged and 305
counters untraded.
Trading is expected to remain in a tight range tomorrow as investors take a
wait-and-see stance on the market.
Without a positive lead from Wall Street, as well as on the local front,
profit-taking emerged early on in today's trade, before local institutional
investors moved in to pick up some blue chips, dealers said.
A local brokerage dealer said today's profit-taking, however, was "healthy"
for the market as it was well absorbed and provided the market some breathing
space before it could continue its uptrend.
Downward pressure on stocks is expected to persist tomorrow as investors
continue to lock in profits before taking new positions for the immediate term.
"The market rally seems exhausted with less reasons to buy (now)," EON
Capital head of research Pong Teng Siew said.
Pong said trading play in the plantations sector on the bio-diesel theme
seemed to fade away and get replaced by interest stirred by oil and gas, with
gains seen in KNM Holdings, Shell and B.I.G Industries.
TA Securities, in a note to clients, said the market is poised for a brief
profit-taking consolidation phase, as reflected by the declining daily trading
volumes.
It said that what the market needs to extend its previous rise is a fresh
positive news flow such as another announcement of new major projects under the
Ninth Malaysia Plan.
It said the KLCI has shown a trend where early intra-day gains are checked
by profit-taking in afternoon trade, which it said is not a bad thing if the
market is to regain its upward momentum.
"The overbought daily momentum will also need to be neutralized by a
profit-taking dip to encourage buyers to return (to the market)," TA said.
Among key blue chips, BAT Malaysia closed down 0.75 rgt at 41.50, Tanjong
Plc fell 0.30 rgt to 13.50, Resorts World slipped 0.10 rgt to 11.20.
Digi.Com inched lower by 0.10 rgt to 12.10, Tenaga Nasional added 0.05 rgt
to 9.20, Telekom Malaysia was steady at 9.05, and Genting advanced 0.25 rgt to
25.25.
Malayan Banking Bhd was up 0.20 rgt at 10.70 ahead of formalizing a business
transfer agreement related to American Express' consumer and corporate cards
business, as well as merchant acquiring services in Malaysia.
Malaysian Airline System Bhd (MAS) added 0.03 rgt to 2.83 on its efforts to
improve its profitability via fuel surcharge and an air fare increase.
Gadang Holdings Bhd was higher by 0.04 rgt at 0.97 on improved results for
the year to May.
AirAsia Bhd was up 0.01 rgt at 1.29 on news that the transport ministry here
has approved the budget airline's plans to fly to China.
SapuraCrest Petroleum Bhd moved up 0.01 rgt to 0.795 after its unit won an
oil rig contract worth 87 mln usd.
HLG Capital Bhd inched up 0.015 to 0.88 on news that the financial group
reported improved results for the year to June.


For tomorrow...more profit taking and market may going down...target 900 points...

For CPO...market too high...profit taking may track down to 1600 points...

Regard

Anthony Wong