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Showing posts from May, 2012

Invest Malaysia 2012–PM Najib Keynote Address

The Next ChapterMalaysia  as ASEAN’s mutinational marketplace of choice.  Prime Minister  (PM)  Najib  shared his vision for the next chapter of Malaysia’s transformation story and the future of the country’s capital market at his Keynote Address at IM 2012. PM Najib  is determined to put Malaysia ’s capital market in the best position to continue driving  the country’s economic growth and  be a step ahead of the rest.  Five new initatitives were announced to ensure that the capital market stays competitive and has the depth and breadth to drive the national growth agenda: 

*  To build competency and capability  to compete.  A Foundation will be set up to address growth gaps in the capital market,  with focus on SME growth, innovation and talent nurturing. A MYR100m grant will be allocated to this new Foundation. 
*  To ensure high-skilled workforce. Companies participating in the Skim Latihan 1Malaysia programme  will be given  a  double tax deduction for the training expenses incurr…

Bursa Malaysia Today's Market Preview 3001

For a change, Wall Street played catch-up with Asian equities when its key equity indices rose between 1.0% and 1.2% last night following an extended weekend break. Essentially, sentiment was lifted by opinion polls that Greece voters were in favour of the country remaining in the euro bloc while U.S. housing date showed improvements.

Back home, the benchmark FBM KLCI’s further progress is expected to be blocked by the next resistance barrier of 1,580 after breaking past the immediate threshold of 1,555 yesterday. Meanwhile, on the corporate front, the raft of result announcements out last evening saw mixed reviews with positive surprise coming from UMW Holdings but IJM Corporation, IJM Plantations and Sunway disappointed. Separately, Pestech International is due to make its debut listing on the Main Board this morning.
by HWDBS

Bursa Malaysia - Today's Market Preview

The selling may not be over yet for Asian equities following Wall Street’s extended losses on Friday. Major U.S. equity indices lost between 0.6% and 1.2% at the closing bell dragged down by continued political uncertainty in Greece.

Back home, the FBM KLCI could face renewed downward pressures today. On the chart, the benchmark index may test the immediate support level of 1,530 ahead.

Hoping to buck the weak market trend are stocks with positive news flows such as:
(a) Favelle Favco, which has secured orders to supply cranes amounting to RM60m; and
(b) TAS Offshore, after clinching contracts for the sale of oil & gas support vessels valued at RM98m. by HWDBS

FBM KLCI Weekly Technical - Is it wise to buck the US drop?

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FBM KLCI – Low seen at 1,566.55. Bucks the US dropSupport: 1,540 to 1,588 Resistance: 1,591 to 1,609
Strategy:  The FBM KLCI  rebounded 23.24 points to close at the week’s high of 1,591.04 last Friday. The local market rose throughout last week on obvious bargain-hunting activities after the
sell-off before the Bersih 3.0 rally on 28 Apr. Volume shrank from 1.33b to 0.95b shares. The obvious support areas for the FBM KLCI are in the 1,540 to 1,588 zone. The next resistance levels of 1,591 and 1,609 will see very h eavy liquidation activities. The FBM KLCI consolidated in
a range of 801 to 936 from Oct 2008 to Apr 2009, but broke above its resistance of 936.63 (Wave
a/B) in Apr 2009 and surged to a previous all-time high of 1,597.08 on 11 Jul 2011. Its intermediate W ave b/B low was 836.51. We have traced out a Wave C/B (of the Flat 3-3-5 variety) rebound phase. A temporary rebound extended wave (Wave V/B) took the shape of a Rising Wedge pattern. We have revised our Wave…