5 Feb 2014

Happy huat for everyone this year...        
Market rebound today..

morning WW, gong xi fatt choy

still holiday mood for most i think

Market Open KLCI stages technical rebound on bargain hunting
Business & Markets 2014
Written by Surin Murugiah of theedgemalaysia.com
Wednesday, 05 February 2014 09:12

KUALA LUMPUR (Feb 5): The FBM KLCI staged a mild technical rebound in early trade on Wednesday as bargain hunting lifted the benchmark index higher after getting battered on Tuesday.

At 9.05am, the FBM KLCI added 6.30 points to 1,785.13.

Gainers led losers by 139 to 31, while 88 counters traded unchanged. Volume was 77.59 million shares valued at RM31.09 million.

The top gainers included Dana Infra, United Plantations, Petronas Gas, Pharmaniaga, Petronas Dagangan, Bernas, Carlsberg, UMW, Hong Leong Bank and Public Bank warrant.

Hwang DBS Vickers Research in a market preview Wednesday said a technical rebound could be on the cards for the Malaysian bourse today.

It said the benchmark FBM KLCI – after hitting a low of 1,769.80 yesterday – will probably extend its recovery pattern by climbing above the immediate resistance line of 1,780 ahead.

“This follows an overnight bounce-up on Wall Street. Key US stock bellwethers rose between 0.5% and 0.9% from their oversold territories after slumping as much as 4.3%-7.3% from their recent highs.

“Stocks that may be of added interest today include: (a) Eco World, which looks to emerge as the biggest landowner in Batu Kawan, Penang (close to the second bridge) as a local daily said it is the only company currently interested to bid for 190 hectares of land in the area; (b) Alam Maritim, after being awarded an extension of a contract for the provision of accommodation barge/vessel worth RM59 million; and (c) Public Bank, as the banking heavyweight is set to release its latest quarterly results during lunch hours,” it said.

Elsewhere, Asian shares could get a welcome reprieve from selling on Wednesday as Wall Street steadied and investors in emerging markets found some backbone, tempering safe-haven bonds and the yen, according to Reuters.

Still, dealers cautioned that the mood remained brittle and it would only take a poor U.S. payrolls report on Friday to set the bears running again, it said.

MINETEC..really active today... 

Market Close KLCI up 0.4% on mild rebound
Business & Markets 2014
Written by Jeffrey Tan of theedgemalaysia.com
Wednesday, 05 February 2014 17:27

KUALA LUMPUR (Feb 5): The FBM KLCI rose 7.05 points or 0.4% to 1,785.88 at market close today on mild technical rebound after being battered yesterday, in line with most Asian equities.

Yesterday, the US Federal Reserve tapering and poor US manufacturing data had caused jitters in the global markets.

Chief Investment Officer of Equities at Eastspring Investment Bhd Yvonne Tan said the KLCI was on a technical rebound but cautioned that yesterday’s sharp correction might not be over yet.

“Despite a technical rebound, there is ‘softness’ in the KLCI as regional markets are still weak,” she told theedgemalaysia.com over the telephone.

“We are not negative on the KLCI, but we continue to see fund outflows from emerging markets. The market sentiment is still fragile,” she added.

Meanwhile, CIMB Investment Bank Research in a note today said the KLCI’s long-term uptrend is intact, despite its recent sharp correction.

“Its weekly chart shows its support trendline is at 1,770 points to 1,780 points. Its major support trendline at 1,750 points since 2008 remains unbroken,” said Nigel Foo, CIMB IB research analyst.

Across Bursa Malaysia, 1.6 billion shares worth RM1.6 billion were traded. Gainers led losers by 443 versus 301, while 276 counters remained unchanged.

The top gainer was Petronas Dagangan Bhd while the top decliner was Hong Leong Capital Bhd. Minetec Resources Bhd was the most active counter.

Bloomberg reported Asian stocks rose, with the regional benchmark index rebounding from its biggest slump since June, after US shares advanced and Japanese companies posted earnings that cheered investors.

The MSCI Asia Pacific Index climbed 0.6 percent to 131 as of 5.17 pm in Tokyo, after plunging the most since June 20 yesterday. US equities rebounded as 21 of 24 emerging-market currencies advanced against the dollar and data showed factory orders fell less than estimated in December.

“The market is breathing a sigh of relief,” said Masaaki Yamaguchi, equity market strategist at Nomura Holdings Inc., Japan’s biggest brokerage by market value.

“Confidence is coming back after emerging-nation currencies stabilised and US data weren’t as bad as expected. The US rebound gave a good reason for the market to rise after slumping.”

Across the region, Japan’s Nikkei 225 was up 1.23% and South Korea’s Kospi rose 0.24%. Singapore’s Straits Times Index closed 0.10% down.

In China, the Shanghai Composite Index ended 0.82% lower, while Hong Kong’s Hang Seng also closed 0.60% lower.

My new watch list:-

1-Axiata-cu
2-TM-cy
3-AFG-cm

Made a small profit from Sime-cw
Bought 50,000 @ 0.02 - 4/2/14
Sold 50,000 @ 0.025 - 5/2/14

       

gsrajan wrote:My new watch list:-

1-Axiata-cu
2-TM-cy
3-AFG-cm

Made a small profit from Sime-cw
Bought 50,000 @ 0.02 - 4/2/14
Sold 50,000 @ 0.025 - 5/2/14

       

+ 1 rep ... hope u continue 2 trade well ...   

gsrajan wrote:My new watch list:-

1-Axiata-cu
2-TM-cy
3-AFG-cm

Made a small profit from Sime-cw
Bought 50,000 @ 0.02 - 4/2/14
Sold 50,000 @ 0.025 - 5/2/14

       

ahhh remind me of my good old days