29th Jan 2014 - BC Daily Trading Floor

by **Cals** Wed 29 Jan 2014, 08:09

Good day traders, busy with work and spring cleaning Headbang

, looks like busy till start of a brand new year

Jan 29th - Stocks To Watch IGB REIT, Integrated Logistics, KPJ, Pestech, KLCI firms
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by **Cals** Wed 29 Jan 2014, 09:20

coffee time

by **WinningHeart** Wed 29 Jan 2014, 09:21

Good morning Pak Cals and BC Trader Coffee

by **WinningHeart** Wed 29 Jan 2014, 09:40

Rebounding + CNY Rally ... Huat arr Devil

by **Cals** Wed 29 Jan 2014, 09:58

rebound is rebound, watch for 1800 level it will try again....then weaken

by **WinningHeart** Wed 29 Jan 2014, 10:16

Cals wrote:rebound is rebound, watch for 1800 level it will try again....then weaken

Yeah ... pure short term technical rebound ... overall the sentiment still bearish Headbang

by **Cals** Wed 29 Jan 2014, 14:15

Noon Market KLCI rises 0.65%, regional mood lifts sentiment

Business & Markets 2014

Written by Surin Murugiah of theedgemalaysia.com

Wednesday, 29 January 2014 14:08

KUALA LUMPUR (Jan 29): The FBM KLCI rose 0.65% at noon break on Wednesday, in line with the upbeat sentiment at most regional markets.

At 12.30pm, the FBM KLCI added 11.73 points to 1,792.98.

Gainers beat losers by 424 to 184, while 250 counters traded unchanged. Volume was 740.82 million shares valued at RM789.67 million.

The top gainers included Dutch Lady, United Plantations, BAT, MISC, Nestle, Lafarge Malaysia, MPI, LPI Capital and Pestech.

Green Packet was the most actively traded counter with 72.85 million shares done. The stock added half a sen to 45.5 sen.

The other actives included KNM, KBB, Asiapac, SILK Holdings, Iris Corp and XDL.

The losers included Hong Leong Capital, GAB, Carlsberg, Cepco, Ireka, Hartalega, Choo Bee, MAHB, KLK and KPJ.

M & A Securities research head Rosnani Rasul said Wall Street broke its 3-day sliding spell as the main bellwether index recovered some lost grounds on Tuesday.

Rosnani said it was indeed more of investors picking up badly beaten share prices than anything else yesterday.

There was no change in fundamentals as most investors were still jittery and nervous ahead of the upcoming FOMC meeting today and tomorrow, she said.

“The negative political development in Thailand and Turkey has indeed punctured sentiment and the sharp adjustment in Turkey’s policy rate has managed to diffuse some tension among investors.

“As for today, we believe the market will make up for the lost ground courtesy of favourable Wall Street overnight closing,” she said.

Meanwhile, Maybank IB head of retail research and chief chartist Lee Cheng Hooi in a note to clients Wednesday said the FBM KLCI’s resistance levels of 1,783 and 1,806 would cap market gains, whilst support levels are at 1,759 and 1,780.

“We recommend a “Sell on Rallies” stance for the index. Despite better performance from the US overnight, we expect a weak FBM KLCI rebound.

“The index could post some profit-taking ahead of CNY. Sell and keep more cash for now,” he said.

Elsewhere, Asian markets rallied on Wednesday after Turkey stunned investors with a huge hike in interest rates, stirring hopes the drastic action would short-circuit a vicious cycle of selling in emerging markets and revive risk appetite generally, according to Reuters.

The bold move even managed to overshadow the U.S. Federal Reserve's meeting at which it is widely expected to trim its asset buying program by another $10 billion a month, it said.

by **Cals** Wed 29 Jan 2014, 18:15

close of session

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ace
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warrant
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by **Cals** Wed 29 Jan 2014, 18:21

Market Close KLCI rises 0.4 % on technical rebound, Turkey rate hike

Business & Markets 2014

Written by Chong Jin Hun of theedgemalaysia.com

Wednesday, 29 January 2014 17:21

KUALA LUMPUR (Jan 29): The FBM KLCI erased losses to rise 7.98 points or 0.4% as Asian stock markets gained. Markets rose on optimism after Turkey raised interest rates substantially to support its currency.

In Malaysia, fund managers said the KLCI which settled at 1,789.23 at 5pm had also seen a technical rebound. The rise came on gains in stocks like Malayan Banking Bhd and CIMB Group Holdings Bhd.

Today, Bursa Malaysia saw 1.4 billion shares worth RM1.74 billion changed hands. There were 494 gainers versus 222 decliners.

The top gainer was United Plantations Bhd while Hong Leong Capital Bhd led decliners.

The most-active stock was KNM Group Bhd.

"It is a technical rebound for the KLCI," a fund manager told theedgemalaysia.com over telephone today.

He said the KLCI had risen on improving emerging currencies following Turkey's move to raise interest rates after a rout in recent days.

Reuters reported that Turkey followed India by tightening policy at a midnight meeting of its central bank, with a huge hike of 425 basis points taking the overnight lending rate all the way to 12 percent.

Today, Malaysia's KLCI extended gains after rising 2.37 points or 0.13% to 1,781.25 yesterday. Last Monday (January 27), the KLCI fell 23.69 points or 1.3%.

The KLCI had fallen then in anticipation that US policy makers will further reduce quantitative easing (QE) measures, and on concerns about China's economy. These factors had prompted investors to sell emerging market currencies and channel funds to US dollar-denominated assets.

Hence, the still-high foreign shareholding in Malaysian government bonds at 45.1% is a crucial concern, Credit Suisse economists said

The economists, Michael Wan, Robert Prior-Wandesforde and Santitarn Sathirathai wrote in a note that the current foreign shareholding in Malaysian government bonds follows a 4.4% percentage point reduction since May 2013.

"Malaysia, the Philippines and Thailand, which were all hit during last year's mini-crisis, but not as much as India and Indonesia, are also better placed in most categories.

"Nevertheless, we still worry about the high level of foreign bond holdings in Malaysia, the political situation in Thailand and low real interest rates in both Thailand and the Philippines," the economists said.

Across Asia, Japan's Nikkei climbed 2.7% while Hong Kong's Hang Seng rose 0.82% Elsewhere, Singapore's Straits Times however fell 0.37%.

Reuters reported that Asian markets rallied on Wednesday after Turkey stunned investors with a huge hike in interest rates, stirring hopes drastic action would short-circuit a vicious cycle of selling in emerging markets and revive risk appetite.

Later in the session, the improved mood will face an test from the U.S. Federal Reserve, which is widely expected to trim its asset buying program by another $10 billion a month at the conclusion of its two-day policy meeting.

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