Showing posts from July, 2010

FBM - KLCI Rotational lower & mid-cap buying activities

FBM KLCI: Key Points
  FBM KLCI – Temporary low seen at 1,294.39
  Obvious supports are at 1,339 & 1,352
  Key resistances seen at 1,354 & 1,370
Market Review
The FBM KLCI inched higher by 0.41 points to close at 1,352.23 yesterday in a mixed tradingsession. The FBM100 and FBM EMAS also closed positive marginally by 2.29 and 3.79 points respectively. Market breadth was negative however, as losers outnumbered gainers for a second day by 381 to 308 while 285 counters were unchanged. Market volume declined to 731.6m shares, valued at RM1.33b.  Daily Technical Outlook
The FBM KLCI advanced less than a point, i.e. 0.41 points, to 1,352.23. Its resistance areas at 1,354 and 1,370 may cap market gains, whilst the obvious support areas for the FBM KLCI
are located at 1,339 and 1,352. Due to the USA’s benign tone last night, we will see the FBM KLCI mired in a tight range – with rotational buying activities on the…

Gamuda and MMC Proposal: To be Conduct Feasibility Study

Malaysia Construction MRT
12 weeks to conduct RM36bil MRT feasibility study
The feasibility study on the proposed RM36bil mass rapid transit (MRT) system by Gamuda Bhd and MMC Corp Bhd is expected to be presented to the Government in about three months time, said a source familiar with the matter. It was earlier reported that the Government had appointed two independent consultants – Minconsult SdnBhd and Andercon Technologies Ltd – to carry out the study. The source said the consultants had been given a period of 12 weeks to revert and present their recommendations on the project to the Government.

It is understood that the consultants have been hired by the Finance Ministry in consultation with the recently-formed Land Public Transport Commission or SPAD. SPAD is supposed to coordinate, integrate and regulate all public transport systems in the country as well as come up with a masterplan. Previous reports indicated that the MRT project might start as soon as early next year. …

KLCI - Remain Cautious, Sime Poised For Further Plunge : Maybank

FBM KLCI: Key Points
  SIME – Poised for a further plunge
  FBM KLCI – Temporary high seen on 29 June
  Weaker supports are at 1,285 & 1,297
  Key resistances seen at 1,299 & 1,320 Market Review
The FBM KLCI tumbled 7.94 points yesterday to close at 1,299.50. The FBM100 and FBM EMAS declined by 53.40 and 53.53 points respectively. Market breadth was negative as losers far outnumbered gainers by 425 to 182 while 270 counters were unchanged. Market volume was weak, with just 449.5m shares traded valued at RM717.9m. Regional Markets
Asian markets were mixed as a weaker Yen boosted the outlook for Japanese exporters while Chinese banks lost their attractiveness. The TAIEX gained the most and added 1.49%.
Other markets inched up in a range of 0.18% to 0.69%. Losers in the region were the Shanghai CI down 0.80%, the Hang Seng lower by 0.32% while the STI slipped 0.01%.

European Markets
American markets were closed  last night for the Independence Day holiday.…

BERJAYA Retail 50% Dividend Policy

Corp: Plans separate listings for retail, food ops. According to chairman and CEO Tan Sri Vincent Tan, Berjaya Corp Bhd (BCorp) is planning separate listings of its retail and food businesses. Berjaya Retail (BRetail) would announce a 50% dividend payout policy, coupled with a 5-year growth plan for more 7-Eleven and Singer outlets. After BRetail, BCorp is targeting to list Berjaya Food Bhd, which holds the Kenny Rogers Roasters and Papa John restaurant chains, by the end of this year.
(Source: Business Times, The Edge Financial Daily)