Kuala Lumpur shares close mixed; KLCI higher led by selected blue chips -
UPDATE 31/10/2006
- Share prices closed mixed, with the key index
higher on interest in selected blue chips, dealers said.
Sentiment remained buoyant, with the profit-taking seen in the past
session proving to be a healthy correction, they added.
The Kuala Lumpur Composite Index (KLCI) was up 2.23 points or 0.23 pct at
988.30.
The FTSE Bursa Malaysia 30-large cap index was up 11.14 points or 0.17
pct at 6,388.24, while the second board index was down 0.80 points or 0.90
pct at 87.74.
Losers outnumbered gainers 411 to 392, with 299 stocks unchanged and 218
untraded.
Trading volume was 930.63 mln shares valued at 1.12 bln rgt.
SBB Securities senior investment analyst Ng Jun Sheng said that regarding
the near-term outlook, he expects the market to trend higher, mainly driven
by an improving external environment and year-end window dressing activities
by fund managers.
"I think our market can play catch-up and the KLCI can touch 1,000 points
by the end of the year," the analyst said.
However, that said, the KLCI is likely to remain rangebound in the next
few days, he added.
Meanwhile, EON Capital Securities head of research Pong Teng Siew said
investors are taking a "wait-and-see" approach, after the US reported
sluggish third-quarter economic growth data
"The Asian markets are disconcerted by the prospects of an economic
slowdown in the US," he said
The US economy registered its slowest growth rate in more than three
years, the commerce department said Friday.
It estimated the economy grew at a 1.6 pct annualized rate in the three
months to September, down on the 2.6 pct growth in the preceding quarter.
Among the gainers on the local bourse today, Hong Leong Industries was
sharply higher on speculation that its major shareholder Quek Leng Chan may
sell his stake in the company following the sale of OYL Industries. The stock
was up 0.32 rgt at 4.98.
Gaming group Genting gained 0.25 rgt to 26.75 and air cargo operator
Transmile was up 0.30 rgt at 12.70.
IOI Properties rebounded from earlier losses, finishing the day up 0.15
rgt at 8.60. The chairman of IOI Corp said yesterday that there are no plans
at present to take the unit private.
K&N Kenanga Research said in a note to clients that it believes it may
prove earnings-accretive to take IOI Properties private.
IOI Corp was up 0.10 rgt at 17.20.
Palm oil producer Kuala Lumpur Kepong rose 0.10 rgt to 11.70.
Timber firm Ta Ann gained 0.10 rgt to 10.40, while WTK Holdings lost 0.20
rgt to 7.30.
Cigarette maker BAT (Malaysia) fell 0.50 rgt to 42.25 and leisure group
Tanjong lost 0.20 rgt to 12.10.
Financially-troubled property firm Talam was sharply lower, after IJM
Corp said it has no plans to acquire a direct stake in the company. Talam was
down 0.055 rgt or 22.92 pct at 0.185.
Among heavyweights, Telekom Malaysia fell 0.05 rgt to 8.75, energy firm
Tenaga was steady at 10.00 rgt and Maybank was flat at 11.20.

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

For CPO Market...correction to 1600 points...

Regard

Anthony Wong

Kuala Lumpur shares close lower on profit-taking led by plantations UPDATE
30/10/2006- Share prices closed lower on profit-taking
after gains over the last two sessions, with plantation stocks such as IOI
Corp and Kuala Lumpur Kepong leading the way, dealers said.
They said weaker-than-expected US third-quarter GDP data gave investors
an excuse to lock in gains.
The Kuala Lumpur Composite Index closed down 3.83 points or 0.39 pct at
986.07.
The FTSE Bursa Malaysia 30-large cap was down 41.44 points or 0.65 pct at
6,377.10.
Lower liners bucked the trend on speculative interest, with the second
board index rising 1.28 points or 1.47 pct to 88.54.
Gainers outnumbered losers 465 to 332, with 280 stocks unchanged and 240
counters untraded.
Trading volume was 1.04 bln rgt valued at 843.39 mln rgt.
RAM Consultancy Services Sdn Bhd managing director and chief economist
Yeah Kim Leng said the slowdown in US third quarter growth was "slightly
sharper than expected, but not alarming."
"However, we do expect a rebound in the fourth quarter and the US to
achieve a soft-landing," Yeah said.
Data released last Friday showed that US gross domestic product growth
slowed to 1.6 pct in the third quarter, from 2.6 pct in the prior three
months and 5.6 pct in the first quarter of the year.
SJ Securities acting head of research Cheah King Yoong said he believes
the local market has further upside potential ahead of the UMNO general
assembly on November 13.
UMNO refers to the United Malays National Organization, Malaysia's ruling
party.
The analyst said he expects the benchmark index to move within the 979 to
992 points range this week.
Palm Oil producer IOI Corp closed down 0.30 rgt or 1.72 pct at 17.10 after
the company's chairman said the group has no immediate plans to launch a
biodiesel plant.
Unit IOI Properties finished unchanged at 8.40 rgt on news that the IOI
group has no plan at present to take the property arm private.
Another palm oil firm Kuala Lumpur Kepong lost 0.30 rgt or 2.52 pct to 11.
60.
Among heavyweights, Telekom Malaysia fell 0.15 rgt or 1.68 pct at 8.80 and
Tenaga was flat at 10.00 rgt while Maybank gained 0.20 rgt or 1.82 pct at 11.
20.
Sugur Bun was sharply higher on speculative interest, gaining 0.28 rgt or
10 pct to 3.08. The stock exchanged said it has queried the company over
recent sharp rise in its share price and trading volume.
Rubber glove maker Kossan was sharply higher after CIMB Research initiated
coverage of the company with an "outperform" call. The stock was up 0.26 rgt
or 8.02 pct at 3.50.
Timber firm Ta Ann gained 0.20 rgt or 1.98 pct to 10.30 and WTK was
steady at 7.50. Merrill Lynch has initiated coverage of Ta Ann and WTK as a
"buy", saying the two firms are likely to benefit from continued uptrend in
log and plywood prices.
WWE Holdings surged 0.21 rgt or 17.21 pct to 1.43 on attractive
valuations and expectations that the company will be a big beneficiary of
projects arising from the government's ninth Malaysian plan.
Amcorp was up 0.01 rgt or 0.72 pct at 1.39 after Clear Goal Sdn Bhd said
it has extended the closing date for its takeover offer for the former to Nov
14.

For tomorrow...market will bound up after slide correction today...target 1000 points...

For CPO market...beware of correction...

Regard

Anthony Wong

Kuala Lumpur shares close higher led by blue chips on local funds buying
UPDATE 27/10/2006
- Share prices closed higher led by blue chips on
buying by local funds amid bullish sentiment regarding the market's outlook
in the short to medium term, supported by record high closes in regional
markets and on Wall Street, dealers said.
They said the market is expected to perform better next week judging from
the robust trading volumes in the last two days.
The Kuala Lumpur Composite Index (KLCI) finished the day up 7.27 points
or 0.74 pct at 989.90, off a high of 990.71. For the week it was up 10.71
points or 0.11 pct.
The FTSE Bursa Malaysia 30-large cap index gained 43.32 points to 6,418.
54, while the second board index rose 1.08 points to 87.26.
The plantation sub-index was the day's biggest gainer, up 63.64 points or
1.09 pct at 3,762.33, while the mining sector was the only loser, falling 4.
40 points or 0.97 pct to 447.14 .
Gainers outnumbered losers 579 to 230, with 260 stocks unchanged and 250
untraded.
Trading volume was heavy at 906.53 mln shares valued at 1.08 bln rgt.
"Buying momentum seems to be holding up, with some occasional
profit-taking in selected blue chips. I foresee the market will continue to
trend upwards next week as momentum builds," a local brokerage dealer said.
He said follow-through interest in selected blue chips is expected to
continue next week as investors remain bullish about the market's prospects.
Dealers said investors are expected to continue watching Wall Street and
regional markets closely for leads.
They however said selling in blue chips is expected to limit the upside
as investors lock in gains before taking new positions.
"Investors, who were sidelined before the long weekend, seem to have
sprung back strongly into the market with renewed vigor. This is partly due
to the fact that the market is playing catch-up with regional bourses and
Wall Street which have risen sharply in recent days," said TA Securities'
technical analyst Stephen Soo.
Soo said that sentiment has also been boosted by market talk that foreign
funds are starting to re-enter the market in a big way.
TA Securities said in a note to clients that resurgent buying momentum in
the broader market after the long three-day Hari Raya break earlier this week
should sustain further upside, given the lag effect following the strong
performances by overseas markets while the local bourse was closed.
"The KLCI could try for the immediate upside hurdle at 990 before
profit-taking consolidates gains in the near term, given the overbought
signals seen on short-term momentum indicators," it said.
Among blue chips, BAT Malaysia was up 1.00 rgt at 42.75, IOI Corp gained
0.40 rgt to 17.40 and Resorts World advanced 0.20 rgt to 11.80.
Pan Malaysian Industries was sharply lower by 0.005 rgt or 11.11 pct at 0.
04, after Bursa Malaysia rejected its application for an extension of time
regarding the submission of its revised regularization plan.
Bursa Malaysia gained 0.05 rgt to 6.00, ahead of the release next week of
its results for the third quarter to September.
Genting rose 1.00 rgt or 3.92 pct to 26.50 on follow-through interest
after yesterday's sharp gains.
MTD Capital was sharply up by 0.18 rgt or 9.57 pct at 2.06, on
speculation the toll operator may be taken private.
Sunrise rose 0.05 rgt to 1.65 on media reports the property developer
plans to launch property developments worth about one bln rgt in the current
year to June 2007.

For next week...market is very bullish...target 1000 points...

For CPO market...upside limited...beware of profit taking...

Regard

Anthony Wong

Kuala Lumpur shares close firmer led by blue chips amid consolidation -UPDATE 19/10/2006
- Share prices closed slightly higher, with gains
posted only by select blue chips in a generally consolidating market ahead of
the long holidays next week, dealers said.
Yesterday's mild inflation figures for September calmed market nerves
about any interest rate hike in the near term but caution about uncertainties
during the long holidays ahead kept trading quiet, they said.
The day's gains are not likely to be sustainable, they added.
The Kuala Lumpur Composite Index (KLCI) was up 2.88 points or 0.30 pct at
978.77.
The FTSE Bursa Malaysia 30-large cap index rose 37.79 points or 0.60 pct
to 6,351.05 while the second board index eased 0.05 rgt or 0.06 pct to 84.46.
Losers outnumbered gainers 354 to 339, with 324 stocks unchanged and 301
counters untraded.
Trading volume was 531.61 mln rgt valued at 836.74 mln rgt.
"The mild inflation in September could indicate that the central bank
will again keep its key rate unchanged at its policy meeting on November 24,
but overall sentiment remained mixed," a dealer from a local brokerage said.
Yesterday, the government announced the consumer price index (CPI) in
September rose 3.3 pct year-on-year, and was up by a slight 0.2 pct
month-on-month.
The local brokerage dealer cautioned that technical readings of the stock
market show some signs of weakness and the benchmark KLCI could shift to a
corrective mode due to a lack of fresh leads.
SJ Securities acting head of research Cheah King Yoong said the market is
expected to continue to be quiet ahead of next week's long break and the KLCI
is seen moving between 974 and 980 points.
Key blue chips contributed most of the day's gains, with heavyweight
Maybank up 0.20 rgt or 1.79 pct at 11.40 and energy firm Tenaga up 0.05 rgt
at 10.00.
Mobilephone operator Digi was higher ahead of its results announcement
tomorrow, rising 0.20 rgt or 1.64 pct to 12.40.
Leisure group Resorts was up 0.20 rgt or 1.64 oct at 11.90 and gaming
firm Tanjong gained 0.20 rgt or 1.64 pct to 12.50.
Rubber glove maker Top Glove was higher on the company's robust earnings
prospects. The stock was up 0.15 rgt or 1.51 pct at 10.10.
Hexagon was sharply higher, gaining 0.24 rgt or 6.49 pct to 3.94.
Construction firm Road Builder was sharply higher after rival IJM Corp
announced its takeover bid for the entire equity interest in Road Builder at
3.00 rgt per share. The stock was up 0.10 rgt or 3.53 pct at 2.93 while IJM
was down sharply as investors worried that the acquisition could be
earnings-dilutive. IJM finished the day down 0.30 rgt or 4.65 pct at 6.15.
Gaming group Genting was lower on continued profit-taking, falling 0.45
rgt or 1.78 pct to 24.80 and state-owned Telekom Malaysia was down 0.10 rgt
or 1.1 pct at 9.00.

For tomorrow...market will go up for next week...

For CPO market...market will correct to 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close lower in listless trade ahead of holidays - UPDATE 18/10/2006
- Share prices closed slightly lower in listless
trade with volumes remaining thin, as investors continue to stay on the
sidelines ahead of the long festive holidays from this weekend, dealers said.
They said the index is expected to move in a tight range but sentiment is
likely to improve next month following the holidays.
The Kuala Lumpur Composite Index (KLCI) was down 1.34 points or 0.14 pct
at 975.89.
The FTSE Bursa Malaysia 30 large-cap index was down 11.93 points or 0.19
pct at 6,313.26 while the second board index was down 0.02 points at 84.51.
Losers outnumbered gainers 356 to 322, with 356 stocks unchanged and 286
untraded.
Trading volume was 567.69 mln shares valued at 726.04 mln rgt.
"We expect the market to stabilize after next week's festive holidays,"
said a trader from a Malaysian brokerage, noting that October is traditionary
a "weak month" for the KLCI.
"As investors prepared for the upcoming festive season, local funds are
liquidating some investments for the expected redemptions of funds," he said.
Meanwhile, OSK Securities head of research Kenny Yee said he expects the
benchmark KLCI to stay around its current level for the rest of the year.
"Bright spots in the market include (continued) corporate earnings growth
and ongoing merger and acquisition activities," the analyst said.
Among heavyweight stocks, Maybank was down 0.10 rgt or 0.88 pct at 11.20,
while energy firm Tenaga was up 0.05 rgt or 0.51 pct at 9.95 and Telekom
Malaysia was steady at 9.10.
As for gaming groups, Genting was sharply lower on profit-taking, down 1.
00 rgt or 3.81 pct at 25.25 and Tanjong was down 0.10 rgt at 12.20.
Media company Nanyang Press was higher on news that rival Sin Chew
Media's major shareholder is offering to acquire a 21 pct stake in the
company at 4.20 rgt per share. The stock was up 0.12 rgt or 3.00 pct at 3.12,
while Sin Chew was down 0.06 rgt or 2.26 pct at 2.60.
Palm oil producer IOI Corp was higher at 16.30 rgt, rising 0.20 rgt or 1.
24 pct, while IOI Property was sharply higher on speculation that parent IOI
Corp might take the company private. IOI Property was up 0.25 rgt or 3.14 pct
at 8.20.
CME Group surged on new contract hopes, rising 0.205 rgt or 38.66 pct to
0.735.
New listing Putrajaya Perdana finished the day unchanged at 1.80 rgt on
its main board debut, with earlier gains wiped out by late profit-taking.

For tomorow...market still very bullish...target 1000 points...

For CPO market...market to high...must correct to 1500 points...

Regard

Anthony Wong

et

Kuala Lumpur shares close lower on profit-taking ahead of Sept CPI - UPDATE 17/10/2006
- Share prices closed lower on extended
profit-taking after last week's gains and ahead of the release of Malaysia's
September inflation data tomorrow, dealers said.
They said the current consolidation mode is likely to continue for the
rest of the week ahead of the long festive holidays from this weekend,
although the long-term outlook remains good.
The Kuala Lumpur Composite Index (KLCI) closed down 6.56 points or 0.67
pct at 977.23.
The FTSE Bursa Malaysia 30-large cap index slipped 49.21 points or 0.77
pct to 6,325.19 while the second board index eased 0.55 of a point or 0.65
pct to 84.53.
Losers outnumbered gainers 496 to 227, with 318 stocks unchanged and 277
counters untraded.
Trading volume was 566.54 mln shares valued at 819.05 mln rgt.
TA Securities' technical analyst Stephen Soo predicted earlier in the day
that profit-taking would persist in the afternoon trade, as the market had
been "overly bullish over the last two days on Wall Street's good performance.
"
Bursa Malaysia rallied late last week with a 0.52 pct rise on Thursday
and a further 0.81 pct on Friday in line with regional gains triggered by
Wall Street's record-close overnight, and on hopes of more favorable
corporate earnings results following Tenaga Nasional's strong full-year to
August results.
The market has also taken some precaution ahead of tomorrow's CPI
figures, although economists are expecting only a 3.3 pct rise in consumer
price index (CPI), which matches the August reading.
The Malaysian Institute of Economic Research (MIER), a government think
tank, said inflation may have peaked at 4.8 pct in March after it hit a
six-month low of 3.3 pct in August. EON Capital Securities research manager
for charts Lee Cheng Hooi said that despite the market's current
consolidation mode, he remains optimistic about the outlook for local
equities.
"We expect the market to trend higher toward the end of the year," Lee
said, adding that the benchmark KLCI is expected to trade between 973-980
points in the near term.
The chartist said the his house has a year-end target of 995-1012 points
for the KLCI.
Among heavyweight stocks, Tenaga was down on profit-taking, falling 0.20
rgt to 9.90 and Maybank fell 0.20 rgt to 11.30. Telekom Malaysia was steady
at 9.10 rgt.
Gaming groups such as Genting lost 0.50 rgt to 26.25 and Tanjong PLC was
down 0.40 rgt at 12.50. Tanjong said yesterday its Russian partner Yuvenga
JSC has temporarily suspended its Moscow Olympic Lottery draws, pending a
review by its shareholders.
Public Bank was lower ahead of its third quarter to Sept results, down 0.
10 rgt at 6.65. The banking group said it posted a net profit of 432.41 mln
rgt, compared with 347.86 mln a year earlier.
New listings StemLife and Swee Joo were sharply higher, with
Mesdaq-listed StemLife gaining 0.42 rgt or 127.27 pct to 0.75 and shipping
Swee Joo was up 0.105 rgt or 15 pct at 0.805.

For tomorrow...market may rebound...

For CPO market...correction must occur to 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close little changed as late buying offsets losses -
UPDATE 16/10/2006
- Share prices closed little changed with late
buying interest recouping earlier losses, dealers said.
Nevertheless, the key index is likely to trend downwards towards the end
of the week as investors are expected to stay on the sidelines ahead of next
week's long holidays, they added.
The Kuala Lumpur Composite Index (KLCI) was up 0.25 points or 0.03 pct at
983.79, off an intraday low of 977.12.
The FTSE Bursa Malaysia 30-large cap index was down 11.18 points or 0.18
pct at 6,374.40, while the second board index was down 0.27 points or 0.32
pct at 85.08.
Losers outnumbered gainers 468 to 279, with 300 stocks unchanged and 269
untraded.
Trading volume was 576.16 mln shares valued at 709.37 mln rgt.
"There was a broad-based downtrend and profit-taking could be seen
everywhere," said Tee Sze Chian, an investment analyst at Mayban Securities,
adding that trading momentum was weak.
Stocks fell on continued profit-taking, with Transmile losing 0.20 rgt or
1.01 pct to 12.20 and oil and gas firm KNM Group shedding 0.20 rgt or 2.99
pct to 6.50.
Palm oil producer IOI Corp was down 0.20 rgt or 1.22 pct at 16.20, while
property arm IOI Properties gained 0.25 rgt or 3.14 pct to 8.20.
Gaming operator Genting was steady at 26.75 rgt, while associate Resorts
fell 0.20 rgt or 1.67 pct to 11.80.
Water treatment plant operator Puncak Niaga was sharply higher after
Water Minister Lim Keng Yaik reportedly said the government has approved a 15
pct water tariff hike in Selangor. The stock was up 0.07 rgt or 2.39 pct at 3.
00.
John Teoh, a fund manager from a local asset management firm, said he
does not see the potential 15 pct water tariff hike having an adverse impact
on the equity market.
"I don't think it will trigger further inflationary pressure as the hike
will be confined within Klang Valley and the government has given assurances
that the 42 pct low-income group will not be affected," the fund manager said.
Tronoh was sharply higher on speculation it may secure a power plant
project in Indonesia. The stock was up 0.10 rgt or 2.31 pct at 4.42.
Tenaga gained 0.10 rgt or 1.00 pct to 10.10, on expectations the national
energy firm will report strong earnings growth over the next two years.
Maybank was flat at 11.50 rgt and Telekom Malaysia steady at 9.10.

For tomorrow...profit taking continue to 950 points...

For CPO market...correction to 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close higher after Tenaga results, Wall St rally - UPDATE 13/10/2006
- Share prices closed higher in heavy trade, with
gains expanding across the board from the early sessions on hopes of further
favorable corporate earnings data next week after yesterday's strong
full-year results reported by Tenaga Nasional, dealers said.
Initial trade was already upbeat in line with regional gains triggered by
Wall Street's record-close overnight, but gained further momentum at the
morning close and in the afternoon session as laggards caught up with the
rally before the market shuts for the upcoming holidays, they said.
The Kuala Lumpur Composite Index (KLCI) finished the day at its highest,
up 7.92 points or 0.81 pct at 983.54. For the week, the KLCI rose 12.56
points or 1.29 pct.
Dealers said trading next week is likely to see follow-through buying of
Tenaga Nasional following its robust year to August results announced
yesterday.
The FTSE Bursa Malaysia 30 large-cap index rose 58.04 points to close at
6,385.58 , while the second board index advanced 0.40 of a point to 85.45.
Gainers led losers 454 to 296, with stocks 331unchanged and 235 stocks
untraded.
Trading volume was 771.46 mln shares valued at 1.20 bln rgt.
"The market is expected to trend higher next week on strong
follow-through buying in selected blue chips as sentiment is expected to
remain buoyant, with help from a good showing by the global markets, and on
expectations that the world economy will continue to be robust due to firm
consumer sentiment in the world's biggest economy, the United States," a
local brokerage dealer said.
He said the recent surge on Wall Street gave a "much needed boost" to a
market that had been relatively barren in terms of leads.
Wall Street's Dow Jones Industrial average last night broke through 11,
900 points to close with a gain of 95.57 points or 0.81 pct at a record 11,
947.70 points. The market was boosted by optimism over the health of
corporate earnings and economic data that indicated the economy was holding
up even as it slowed. Oil prices, which remained near lows for the year, also
boosted sentiment.
The dealer said the local market's optimism also focused on other major
blue chips such as Digi.Com, with expectations the company will release
favorable third-quarter results on October 20.
A local chartist said the market is likely to trend higher and test the
next resistance level of 985 points, followed by 990 points. Other more
optimistic dealers are looking at the index breaching the 1,000-point
resistance next week, betting on a strong rally before the festive season
begins.
The chartist added, however, it is still too early to tell whether the
market will be able to break 1,000 points as a stronger foundation is needed
in the next few weeks for this to happen.
TA Securities, in a note to clients, said the bullish breakout seen
yesterday should sustain a further upside in the near term, given the strong
buying momentum and bullish market mood.
"Investors should expect further gains, what with the
better-than-expected results from Tenaga," TA added.
Among the heavyweights, IOI Corp rose 0.30 rgt to 16.40, Telekom Malaysia
was up 0.05 rgt at 9.10 and Malayan Banking firmed 0.20 rgt to 11.50.
Puncak Niaga Holdings was up 0.052rgt at 2.93 on speculation that the
utilities firm is planning capital repayment which may involve a cash pay-out
of 1.25 rgt per share.
Sunway Infrastructure fell 0.025 rgt or 14.71 pct to 0.145 after the
company said its debt settlement proposal was not approved at a bondholders'
meeting.
Talam Corp eased 0.015 rgt or 9.09 pct to 0.15 on profit-taking following
earlier gains ahead of the release of its results for the second quarter to
July.
Rexit fell 0.11 rgt to1.93 on prpofit taking after it gained earlier on
follow-through interest on news that Japan's Marubeni Corp is planning to
take up a 10 pct stake in the company.
Top Glove Corp advanced 0.30 rgt to 9.70 after the rubber glove maker
said it plans to acquire a stake in Singapore's Medi-Flex.

For next week...market will down for correction...

For CPO market...down trend to 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close higher on foreign funds return, oil price drop
-UPDATE 12/10/2006
- Share prices closed the day significantly
higher as some foreign funds returned to the local stockmarket, where
sentiment was boosted by the drop in crude oil prices in New York overnight,
dealers said.
The Kuala Lumpur Composite Index (KLCI) finished the day up 5.25 points
or 0.52 pct at 975.62, off an intraday high of 975.75 but wiping out an
opening loss of 0.19 of a point at 970.18.
The FTSE Bursa Malaysia 30 large-cap index rose 35.02 points to 6,327.54,
while the second board index advanced 0.76 of a point to 84.95.
Gainers led losers 507 to 225, with 321 stocks unchanged.
Trading volume was 840.37 mln shares valued at 1.122 bln rgt.
''Today we saw a real breakout, which has not happened for some time,''
said Steven Soo of TA Securities, referring to a sustained rally in the
benchmark index to solid ground above the pscyhological resistance level of
970 points.
''There was a real build-up of momentum today,'' he added.
A major factor, apart from falling oil prices, Steven said, was the
return of foreign investors to Bursa Malaysia.
''There was pent-up demand, which was released, and this can be
attributed to foreign funds coming back to the market,'' he said.
At the close, airline stocks Air Asia and Malaysia Airlines gained from
the fall in oil prices, with Air Asia jumping 0.10 rgt or 6.4 pct to 1.64
while MAS rose 0.04 rgt to 3.48 rgt.
The price of light, sweet crude settled down 93 cents at 57.59 usd on the
New York Mercantile Exchange overnight, the lowest settlement of the year,
amid increasing doubts about whether OPEC's members could agree on an
immediate cut in production.
Among the heavyweights, Tenaga gained 0.05 rgt or 0.51 pct to 9.80 rgt
ahead of the release of its fourth-quarter and fiscal year to August results.
Telekom Malaysia gained 0.05 rgt to 9.05 while Maybank was flat at 11.30.
Elsewhere, LCL Corp was flat at 1.69 after gaining 0.01 rgt earlier in
morning trade on a report the company plans to transfer to the main board.
Worldwide Holdings lost 0.12 rgt to 3.18 after the company said the High
Court has rejected an application for a shareholder meeting to decide on a
takeover offer.
Ramunia Holdings eased 0.01 rgt to 1.20 after profit-taking pared gains
made earlier on speculation that Sime Darby Bhd might launch a takeover offer
for the company as early as next week

Market is at the peak...cash out for next round of crash...

For CPO market...market is at the turning points of correction...toward 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close little changed ahead of long holidays - UPDATE 11/10/2006
- Share prices closed little changed, with
investors having started to wind down their positions in a market lacking in
fresh leads ahead of the long festive holidays, dealers said.
The KLCI closed up 0.66 of a point at 970.37, off a high of 971.03 in
earlier trade.
The FTSE Bursa Malaysia 30 large-cap index gained 18.32 points to finish
at 6,292.52 , while the second board index eased 0.05 of a point to 84.19.
Gainers outnumbered losers 361 to 329, with 357 stocks unchanged and 268
untraded.
Trading volume was 697.99 mln shares valued at 854.26 mln rgt.
Heavyweight BIMB Holdings supported the market on the back of the company
unit Bank Islam's move to form a strategic partnership with Dubai Investment
Group, but investor interest generated by such move was offset by
profit-taking in Genting following its gains ahead of the submission of its
proposal for Singapore's second casino resort.
Dealers said the market is expected to consolidate tomorrow, with the
benchmark index likely to re-test the 970-point psychological support level
in early trade.
"Trading remains dull and unexciting, with little or no leads to lift
sentiment. Investors just seemed uninterested in the market," a local
brokerage dealer said.
He said follow-through selling in selected blue chips are expected to
continue tomorrow in counters like Genting, IOI Corp, and Tanjong.
But he said trading is expeced to remain generally quiet tomorrow ahead
of Tenaga Nasional's announcement of fiscal year results after the market
closes tomorrow.
"The market is experiencing a dry spell where there are no catalysts,
either positive or negative, to push down or push up the market. There is
just not much excitement in the market at the moment," MIDF Sisma Securities
analyst S. Sharath said.
He said sentiment was dampened by profit-taking in Genting, while
investors stayed sidelined ahead of Tenaga Nasional's full-year results due
for release after the market closes tomorrow.
Given the shift in focus to the upcoming festivities, with Muslims and
Hindus in the country preparing for the Aidil Adha and Deepavali
celebrations, "coupled with a lack of significant leads in the market, it is
no surprise that trading remains lackluster and rangebound," Sharath said.
Sharath said Digi.com's third-quarter results, due out on October 20,
could provide some positive leads for the market. The results are expected to
be in line with market expectations, he added.
TA Securities, in a note to clients, said rangebound trading could
continue in blue chips pending the emergence of positive catalysts.
"The stronger volume and positive market breadth yesterday were mostly
contributed by increased trading interest in speculative penny stocks and
warrants ..." TA said, adding that blue chips remained in a consolidation
mode.
"Hence, the present cautious market undertone should persist, as
indicated by the persistent discount on KLCI futures," TA added.
Among the heavyweights, Resorts World rose 0.40 rgt to 11.80, Telekom
Malaysia dropped 0.05 rgt to 9.00 and Malayan Banking rose 0.20 rgt to 11.30.
Genting fell 0.25 rgt to 26.25 as investors locked in profits following
gains ahead of the submission of its proposal for Singapore's second casino
resort.
BIMB Holdings was up 0.12 rgt or 9.45 pct at 1.39 on company moves for
unit Bank Islam to form a strategic partnership with Dubai Investment Group.
Tenaga Nasional dropped 0.10 rgt to 9.75 on concerns that a potential gas
price hike may weigh on the company's earnings.
Mah Sing Group advanced 0.04 rgt to 3.10 on hopes that the property
firm's planned high-end commercial project may boost its earnings growth.

For tomorrow...market must take a profit taking...

For CPO market...correcion continued to 1500 lever or below...

Regard

Anthony Wong

Kuala Lumpur shares close flat after profit-taking pares gains - UPDATE 10/10/2006
- Share prices closed flat after investors
decided to lock in early gains in the absence of fresh developments following
the global condemnation of North Korea's nuclear test, dealers said.
They said, however, the market had enough support from investor interest
in Genting, which helped shore up market sentment toward selected blue chips.
The Kuala Lumpur Composite Index closed up 0.33 points or 0.03 pct at 969.
71. The index shed some of its earlier gains from the opening bell at 970.20
and the morning close at 970.35.
The FTSE Bursa Malaysia 30 large-cap index gained 2.73 points to finish
at 6,274.20, while the second board index rose 0.26 points to 84.24.
Losers outnumbered gainers 376 to 306, with 326 stocks unchanged and 307
untraded.
Trading volume was 697.18 mln shares valued at 770.53 mln rgt.
"The market, after opening stronger on hopes that the North Korea nuclear
test crisis would be resolved soon with the United States' move to find
diplomatic solutions rather than a military one, lost steam as investors
looked for other leads to buy into the market," a local brokerage dealer
said.
He said market sentiment remained subdued as investors refused to take
any significant positions ahead of any new developments on the North Korean
nuclear bomb issue.
"It seems that investors have fallen back to be cautious again on the
nuclear issue and want new developments to ease their anxiety on the matter,"
he added.
This dealer, like the others, however, believes that in the next few days
investor attention is likely to focus on domestic issues like the country's
economic growth and inflation.
"I believe the nuclear issue is a non-event and if any, it is just an
excuse for investors to lock in profits," another local brokerage dealer said.
TA Securities, in a note to clients, said trading is still expected to
remain flat in the absence of strong follow-through buying momentum to
support any further upside.
Genting ended the session up 0.75 rgt at 26.25, rising further on
follow-through buying after gaining yesterday 0.275 rgt to 25.50 ahead of the
close of bidding for a second casino resort in Singapore.
Among the heavyweights, Tenaga fell 0.10 rgt to 9.75, Telekom Malaysia
was up 0.05 rgt at 9.10 and Maybank was flat at 11.20.
KNM Group was higher by 0.35 rgt or 5.65 pct at 6.55 on news that its
units have won substantial new orders from international clients for domestic
and international projects.
Pan Malaysian Industries rose 0.015 rgt or 42.86 pct to 0.05 in active
trade after Bursa Malaysia lifted the PN17 status, which pertains to
financially troubled companies, from unit Pan Malaysia Holdings Bhd.
Kotra Industries advanced 0.05 rgt to 1.39 on news that the company plans
to issue bonus shares on the basis of 6 new shares for every 5 held.
Berjaya Corp gained 0.01 rgt to 0.145 after the company said it is
considering a proposal to take unit Cosway Corp Bhd private.
Pan Malaysia Holdings Bhd wsas flat at 0.065 flat on profit-taking after
it gained earlier after news that it has regularized its financial condition
and is no longer classified as a PN17 or financially-troubled firm.

For tomorrow...any upside is a good sell signal...market not good...

For CPO market...market correction is expected to move below 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close easier on regional weakness after nuclear test
-UPDATE 9/10/2006
- Share prices closed slightly lower in
rangebound trade, dragged by weakness across the region in reaction to North
Korea's nuclear test, dealers said.
They said investors trimmed their blue-chip positions before moving to
the sidelines to await further developments on the nuclear test.
The Kuala Lumpur Composite Index closed down 1.60 points or 0.17 pct at
969.38.
The FTSE Bursa Malaysia 30 large-cap index lost 15.30 points to 6,271.47,
while the second board index eased 0.03 points to 83.74.
Losers outnumbered gainers 385 to 303, with 324 stocks unchanged and 305
untraded.
Trading volume was 489.82 mln shares valued at 712.61mln rgt.
"Overall, judging from the mild knee-jerk reaction to the nuclear test, I
do not see much follow-through effect in the coming days, unless it (North
Korea's action) develops into a bigger problem," a local brokerage dealer
said.
He warned that market sentiment is expected to remain weak in the next
few days as investors remain sidelined ahead of fresh leads.
Investors are likely to keep a close watch tomorrow on Japan and Taiwan,
which were closed today due to public holidays, to see how their markets
would react to the nuclear test by the neighbor state, in defiance of
international warnings against it.
EON Capital Securities head of research Pong Teng Siew said the market is
expected to continue to be docile as most of the investors in the local
market are local funds and retail investors are not as sensitive to such news
as North Korea's nuclear test, compared to foreign funds, which put a strong
weight on geopolitical risks in deciding their investment strategies.
"I see this (news) affecting major markets like Singapore, Japan,
Taiwan , Hong Kong, and (South) Korea, which have strong foreign funds
weightings," Pong said.
'In the immediate term, there could be some knee-jerk reaction, but in
the longer term, I think this will be a non-event,'' said Ng Jun Sheng,
senior investment analyst at SBB Securities.
Ng said the local bourse may see some consolidation in the next few
months, with the benchmark KLCI seen moving within the range of 950-970
points due to domestic-driven factors, such as the slow implementation of the
9th Malaysia Plan.
"It is crucial that a resurgence of strong daily trading momentum on
the broader market, preferably above the 700 mln shares (turnover) mark, to
sustain a bullish breakout above the formidable double-top resistance near
970 on the KLCI," TA Securities said in a note to clients.
Among the heavyweights, Tenaga rose 0.10 rgt to 9.80, Telekom Malaysia
was down 0.05 rgt at 9.05 and Maybank fell 0.10 rgt to 11.20.
Genting Bhd was up 0.275 rgt at 25.50 ahead of the close of bidding for a
second casino resort in Singapore.
Talam Corp Bhd was up 0.005 rgt at 0.125 rgt on news that the property
firm has made progress in its debt settlement plans.
Pan Malaysian Industries Bhd was up 0.01 rgt at 0.035 in active trading
after the company said it is working on a revised regularization plan after
canceling its proposed capital reduction and rights issue.
Furniweb Industrial Products Bhd was higher by 0.045 rgt or 10.34 pct at
0.48 after a new major shareholder emerged.
Top Glove Corp Bhd added 0.10 rgt to 8.95 after the rubber glove maker
said it has reached a settlement deal with the immigration department on the
renewal of work permits for its foreign workers.

For tomorrow...market down trend began...target 950 points...

For CPO market...correction is see toward 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close firmer after Genting rally reverses early fall
-UPDATE 6/10/2006
- Share prices closed slightly higher as Genting
extended its previous gains on the back of strong prospects for its bid for a
Singapore resort project, and led the market to rebound from an early session
fall, dealers said.
The market opened weak, losing 1.21 points, but recouped some of its
losses by the midday break and advanced further to close with modest gains on
interest in Genting.
The Kuala Lumpur Composite Index (KLCI) closed up 2.09 points or 0.22 pct
at 970.98. For the week, the KLCI gained 3.43 points or 0.35 pct.
The FTSE Bursa Malaylsia 30 large-cap index gained 19.93 points to 6,286.
85, while the second board index was up 0.42 pts at 83.77.
Gainers led losers 355 to 318, with 342 stocks unchanged and 307 untraded.
Trading volume was 570.44 mln shares valued at 848.42 mln rgt.
Investors welcomed the news that Genting's rival Harrah's Entertainment
is reviewing its bid for an integrated resort on Singapore's Sentosa Island
after receiving a buyout offer, dealers said.

''There is a perception right now that Genting's shares are relatively
cheap in relation to its potential,'' an analyst from SJ Securities said.
"The market also perceives that besides the Sentosa Island bid, Genting's
bid on Stanley Leisure plc is also gaining momentum,'' the analyst added.
Going forward, however, analysts still maintain that the market is still
not out of its bearish phase.
''Sentiment is still weak,'' another analyst said.
An economist from Maybank Securities said the outlook is still uncertain
as the economy may face a slowdown in the last quarter.
At the close, Genting Bhd was up 0.75 rgt or 3.06 pct at 25.25 on 2.47
mln shares.
Tanjong also helped boost today's market, with the counter gaining 0.30
rgt or 2.36 pct to 13.00.
Among other heavyweights, Tenaga and Maybank were steady at 9.75 and 11.
10 rgt respectively, while Telekom Malaysia eased 0.05 rgt to 9.10.
Elsewhere, Mesdaq's newly listed Scan Associates made an impressive debut
with a gain of 0.115 rgt or 23 pct at 0.615.
Ramunia Holdings Bhd was lower after a report that Sime Darby is seeking
an unprecedented waiver that would effectively lower the price of its
acquisition bid for Ramunia.
The counter was down 0.01 rgt at 1.22.
Malaysian Mosaic Bhd was higher in heavy trade after the company fixed
the entitlement date for the company's capital return of 0.90 rgt per share
for October 23, gaining 0.05 rgt or 2.82 pct at 1.82.
Ta Ann Holdings Bhd was higher on hopes that its earnings will be boosted
by rising prices of timber and plywood, gaining 0.45 rgt or 5.52 pct to 8.60.

For next week...market will correct down to 950 points...

For CPO market...market correction to 1500 levels...

Regard

Anhony Wong

Kuala Lumpur shares close higher on strong Aug exports, Wall St rally - UPDATE 5/10/2006
- Share prices closed higher after the government
released data showing a trade surplus for August of over 10 bln rgt with
exports up almost 15 pct year-on-year, bolstering sentiment further in a
market already initially upbeat after Wall Street's record-breaking
performance overnight, dealers said.
Remarks by Malaysian central bank governor Zeti Akhtar Aziz that
inflation rate may trend below 3 pct next year provided additional support,
they added.
The Kuala Lumpur Composite Index (KLCI) was up 4.83 points or 0.50 pct at
968.89.
The FTSE Bursa Malaysia 30 large-cap index gained 42.36 points or 0.68
pct to 6,266.92, while the second board index firmed 0.39 to 83.35.
Gainers led losers 404 to 263, with 338 stocks unchanged and 316 untraded.
Trade volume was 569.20 mln shares valued at 860.39 mln rgt.
Sentiment improved further on the government's report that Malaysia's
exports grew 14.8 pct year-on-year in August to 53.49 bln rgt, after the
rally on Wall Street lent momentum to the local bourse, which had been
lackluster due to uncertainty about its near-term prospects, they said.
TA Securities' analyst Stephen Soo said Wall Street's rally on the back
of a perception that the US Federal Reserve may cut its key interest rate
next year played a bigger factor in the market's rebound.
''The effect from Wall Street is finally coming through, but perhaps more
important is the perception by US traders that the Fed may cut interest rates
next year following (Fed chairman Ben) Bernanke's remarks that the US housing
market is in a slump,'' Soo said.
However, Soo cautioned that the local bourse is not out of a bearish
stage yet.
''It will take a stronger catalyst to push the market up on a more
sustainable basis,'' he added.
Soo said he felt the market would perform much better after the festive
holidays, which are about three weeks away.
An economist from Maybank Securities said while the August trade figures
were ''above market expectations,'' he sees Malaysia registering slower
growth in the coming two or three months.
''So the outlook is still uncertain,'' he added.
The market got a further boost today when central bank governor Zeti Aziz
said that inflation rate could trend below 3.0 pct if current economic
conditions prevail and oil prices continue to weaken.
At the close, Road Builder (M) Holdings Bhd was lower on resuming trade
following the stock's suspension yesteray after vice-chairman and major
shareholder Chua Hock Chin sold his stake in the company. Road Builder was
down 0.01 rgt 0.02 rgt at 2.70.
Among heavyweight stocks, Tenaga climbed 0.20 rgt or 2.09 pct to 9.75,
Telekom Malaysia firmed 0.05 rgt to 9.15 while Maybank gained 0.10 rgt to 11.
30.
Elsewhere, Malaysian Airline System Bhd was lower on concerns that delays
in deliveries of A380 aircraft from Airbus would hamper the airline's
turnaround plans and negatively affect its earnings.
Malaysia Airlines was down 0.04 rgt or 1.17 pct at 3.38.
Transmile Group Bhd was higher on hopes that lower crude oil prices will
help reduce the express cargo operators' costs significantly and boost its
earnings, gaining 0.20 rgt or 1.71 pct at 11.90.
Alam Maritim Resources Bhd was higher after it announced its wholly-owned
unit, Alam Maritim (M) Sdn Bhd, has won two charter contracts worth 23.87 mln
rgt.
The counter was up 0.04 rgt or 1.73 pct at 2.35.

For tomorrow...profit taking will push down the market...

For CPO market...correction to 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close lower on uncertainty, slower loan growth - UPDATE 4/10/2006
- Share prices closed lower as investors remained
on the sidelines, finding no fresh leads to counter uncertainty about the
market's new prospects after yesterday's profit-taking, dealers said.
Investors ignored Wall Street's record-breaking performance overnight, as
sentiment remained weak after recent data showed loan growth in the banking
sector slowed in August, they said.
The Kuala Lumpur Composite Index (KLCI) dropped 3.50 points or 0.36 pct
to close at 964.06.
The FTSE Bursa Malaysia 30 large cap index was down 21.82 points at 6,224.
56 while the second board index gained 0.03 points to 82.96.
Losers led gainers 332 to 328, with 374 issues unchanged and 282 untraded.
Trading volume was 464.85 mln shares valued at 659.29 mln rgt.
Referring to recent central bank figures, Maybank Securities said the
banking system's loan growth in August slowed to 8.6 pct year-on-year,
bringing the total loan outstanding to 586.5 bln rgt, mainly due to lower
disbursements.
''Forward-looking indicators have weakened, pointing toward slower growth
and showing moderation in the coming months. On a year-on-year basis, loans
approved declined by 6.4 pct to 16.3 bln rgt,'' Maybank Securities said in a
note to clients.
''The forward looking indicators for the household segment continued
their journey south with loans applications and loans approvals declining by
2.6 pct and 10.7 pct, respectively,'' the research house added.
Maybank Securities said it was not surprised by the data as banks have
tightened their credit policies.
TA Securities noted that the failure of the market to breach the
970-point resistance level is likely to help maintain the market's bearish
momentum.
''Expect further downside bias, as KLCI will need to re-build its
immediate support platform nearer the 960-point level in the short term,'' TA
Securities said.
At the close, the finance index shed 6.33 points to 7740.30, with most of
the banking stocks either down or flat.
AMMB closed down 0.01 rgt at 2.49, CIMB slipped 0.05 rgt to 6.70, Eon Cap
was flat at 5.75, HLFG was unchanged at 4.58 while RHB Cap dropped 0.04 rgt
or 1.39 pct to 2.83.
Among the heavyweight stocks, Tenaga was down 0.05 rgt at 9.55, Maybank
steady at 11.20 while Telekom Malaysia lost 0.05 rgt to 9.10.
Elsewhere, Road Builder (M) Holdings Bhd was sharply lower after news of
an off-market purchase of its 68 mln shares by an unidentified buyer
triggered speculation the company might be a target of a takeover.
Following the news report, Road Builder said trading in its shares has
been suspended in conjunction with the announcement that vice chairman Chua
Hock Chin has ceased to be a substantial shareholder of the company. The
stock exchange has separately announced that Chua has also resigned from the
company as vice-chairman.
Trading in the shares will resume tomorrow, the company said in a filing
with Bursa Malaysia.
Road Builder was last traded at 2.71 rgt, down 0.09 or 3.21 pct.
Berjaya Capital Bhd was higher on follow-through buying as investors
continued to hold a positive view of Sompo Japan Insurance Inc's proposed
purchase of a 30 pct stake in Berjaya unit Berjaya General Insurance Bhd.
Berjaya Capital was up 0.07 rgt or 5.93 pct at 1.25.
AirAsia Bhd was higher on expectations of higher eanings for the company
due to the fall in crude oil prices, gaining 0.03 rgt or 1.99 pct at 1.54.
Light crude settled at 58.68 usd per barrel, down 2.35 usd on the New York
Mercantile Exchange overnight, continuing to fall from as high as 78.40 usd a
barrel in July.
Time dotCom Bhd was lower on profit-taking after two days of gains on
follow-through buying as traders continued to speculate that Digi.Com Bhd is
planning to acquire the company.
The stock eased 0.005 rgt to 0.655.
Hiap Teck Venture Bhd was higher on a report the company will invest 15
mln rgt to increase its production capacity to help meet months of backlog
orders gaining 0.015 rgt at 0.985.

For tomorrow... market will move toward 970 points...

For CPO market will down below 1500 levels...

Regard

Anthony Wong

Kuala Lumpur shares close lower on profit-taking; Genting rebounds - UPDATE 3/10/2006
- Share prices closed weaker as profit-taking in
blue chips continued in afternoon trade, and combined with a lack of fresh
leads, wiped out yesterday's gains led by DiGi.com, although the market's
overall fall was limited by a rebound in Genting, dealers said.
The Kuala Lumpur Composite Index was down 2.11 pts or 0.21 pct at 967.56.
The FTSE Bursa Malaysia 30 large-cap index fell 43.89 pts to 6227.08,
while the second board index lost 0.22 pts to 82.93.
Losers led gainers 333 to 238, with 324 stocks unchanged and 307
untraded.
Trading volume was 407.59 mln shares valued at 701.62 mln rgt.
''Apart from profit-taking, the market also suffered from a lack of fresh
leads,'' said Cheah King Yoong of SJ Securities.
''There's nothing going for the market right now except for some
speculative play,'' he added.
The construction sector, which came under the spotlight following the
announcement of the 9th Malaysia plan, has also been quiet, Cheah said.
''Until the government starts to implement the projects, not much will
happen,'' he said.
He added that the market would likely trade in the range of 962 to 970
pts for the rest of the week.
TA Securities agreed that the outlook is not promising considering the
persistently weak buying momentum.
An upside should prove unsustainable under current market conditions, the
research house said.
At the close, Digi.com was down 0.30 or 2.3 pct at 12.70 as traders took
profit after yesterday's 0.50 rgt or 4 pct gain in the stock due to interest
generated by the company's capital repayment, for which the entitlement date
has been set for October 16.
Resorts World was down 0.30 rgt or 2.7 pct at 10.80 and Maybank down 0.10
rgt at 11.20, also due to profit-taking.
Genting rebounded from a 0.30 rgt fall in the morning session to a gain
of 0.30 rgt, or 1.26 pct, to 24.20 at the close.
Speculation of a tie-up between DiGi.Com Bhd and Time dotcom Bhd boosted
Time dotCom and Time shares, dealers said. Time dotcom gained 0.01.rgt to 0.
66, while Time rose 0.02 rgt or 3.28 pct to 0.63.
Tenaga was down 0.05 rgt at 9.60, while Telekom Malaysia was flat at 9.15.
Some stocks, however, gained and prevented the market from falling
further.
Telecom-related stock Nasioncom firmed 0.005 rgt or 3.45 pct to 0.15.
Tanjung Offshore Bhd was sharply higher after the company announced its
unit, Tanjung Offshore Services Sdn Bhd, has been awarded a contract worth
about 10 mln rgt by Larsen & Toubro Ltd. Tanjung Offshore Bhd was up 0.14
rgt or 5.79 pct at 2.56.
VADS was higher on news that it has secured a five-year contact worth 254.
6 mln rgt from affiliate TM Retail. The stock gained 0.25 rgt or 3.97 pct at
6.55.
Berjaya Capital rose 0.12 rgt to 1.18, on news that Sompo Japan Insurance
Inc has proposed to acquire a 30 pct stake in its wholly-owned unit Berjaya
General Insurance, after Bank Negara Malaysia approved the start of
negotiations.
Sime Engineering Services was higher after a consortium, comprising
wholly-owned unit Sime Engineering and Mitsui & Co Power System Corp, secured
a 47.6 mln usd power plant project in Thailand. Sime Engineering gained 0.03
rgt to 1.42.

For tomorrow...we wait for any sell down is a good buy signal...

For CPO market...correction to below 1500 level...

Regard

Anthony Wong

Kuala Lumpur shares close firmer, led by Digi on capital repayment - UPDATE 2/10/2006
- Share prices closed slightly higher in
rangebound trade, with Digi.com leading the benchmark index into positive
territory ahead of the company's capital repayment date, dealers said.
Digi.com recently set an October 16 entitlement date for its 0.60 rgt per
share capital repayment.
The Kuala Lumpur Composite Index (KLCI) closed up 2.12 points or 0.22 pct
at 969.67.
The FTSE Bursa Malaysia 30 large-cap index gained 10.59 pts or 0.17 pct
up to 6,270.97, while the second board index eased 0.05 points or 0.06 pct to
83.15.
Losers led gainers 337 to 288, with 336 stocks unchanged and 475 counters
untraded.
Trading volume stood at 365.19 mln shares, valued at 649.45 mln rgt.
The ringgit was quoted at 3.6860/6910 to the dollar.
At the close, Digi.com was up 0.50 rgt or 4 pct at 13.0 rgt on volume of
1.14 mln shares.
Dealers said apart from Digi.com, banking stocks also supported the
market.
''We believe thematic plays related to consolidation (of companies in
the) banking sector, and the construction sector could resurface in the next
few weeks. It would be worthwhile to pick up some blue chips as well, ahead
of ... year-end window-dressing activities,'' TA Securities said.
Cheah King Yooung of SJ Securities said he sees better prospects for
financial stocks as interest rates have remained steady and will remain so
for the time being.
However, Hwang-DBS Vickers said it remains neutral on the banking sector,
noting that the banking system registered slower loan growth in August.
''We remain neutral on the banking sector on concerns that over the
longer term, non-performing loans could rise,'' Hwang-DBS said in a note to
clients.
Nonetheless, Hwang-DBS said it is still recommending "buy" on RHB Capital
and AMMB at target prices of 3.20 rgt and 3.00 rgt, respectively.
Banking stocks closed mostly higher, with the financial index up 40.08
pts at 7791.85.
Maybank led the pack, with a 0.10 rgt increase to 11.30, CIMB was up 0.05
rgt at 6.70, HLFG up 0.05 rgt at 5.40, AMMB up 0.02 rgt at 2.50 and RHB
Capital up 0.02 rgt at 2.86.
Among blue chips, Tenaga closed down 0.05 rgt at 9.65 rgt, while Telekom
Malaysia was flat at 9.15.
Elsewhere, Green Packet Bhd was up 0.20 rgt at 4.10 on follow-through
buying after the company announced last week that it is raising new funds
through a private placement of up to 40.40 mln new ordinary shares.
Malaysia Airports Holdings was up 0.12 rgt at 2.17 on speculation the
company will be taken private soon, dealers said.
Gamuda was down 0.04 rgt at 3.98 after announcing a fall in full year to
July earnings.
Ramunia Holdings was up 0.03 rgt at 1.27 after Sime Darby Bhd confirmed
it is in talks to buy a majority stake in the company.

For tomorrow...market will move up to 970 points...

For CPO Market...correction to 1500 points...

Regard

Anthony Wong