TM ( 4863 : 6.18 ) : Take profit
Description
Resistance : 6.26
Support : 6.00
RSI of 67
RSI is on the rise
STOCHASTIC
It is overbought
Comment
On the buy of 25/9/2012 at 5.86, we are recommending to take profit as it approaches overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research, 01 October 2012
Sunday 30 September 2012
Stock Overview - AFG - 1 Oct 2012
AFG ( 2488 : 4.09 ) : Targeting 4.35/Stop loss 4.00
Description
Resistance : 4.35
Support : 4.00
RSI of 48
RSI is on the rise
STOCHASTIC
It is oversold
Comment
The current technical rebound is heading for 4.35
Trading Strategy
Buy. Stop loss is at 4.00
Source:Jupiter Securities Research, 01 October 2012
Description
Resistance : 4.35
Support : 4.00
RSI of 48
RSI is on the rise
STOCHASTIC
It is oversold
Comment
The current technical rebound is heading for 4.35
Trading Strategy
Buy. Stop loss is at 4.00
Source:Jupiter Securities Research, 01 October 2012
Daily Summary - 1 Oct 2012
YOUR MORNING COFFEE – Monday 1/10/2012
SUMMARY
SUMMARY
- Wall St closed 0.4% lower as US manufacturing declining for the first time since Sep 2009. Chicago PMI, a measure of regional activity, dipped to 49.7.
- Dow of 13,437, is slightly weak. Support is at 13,360. RSI of 55, is
- neutral.
- DOLLAR INDEX is higher at 80.1. Resistance is at 80.5.
- Crude oil is higher at USD92.1. Resistance is at 96.0.
- Dollar yen is higher at 78.0 yen. Support is at 77.6.
- Euro/dollar is lower at 1.281. Support is at 1.260.
- Gold is lower at USD1765. Support is at 1720.
- Shanghai closed higher at 2,086.
- Singapore STI closed lower at 3,058.
- Ringgit is weaker at 3.074. Downside is at 3.09.
- S’pore ringgit is higher at 2.501. Upside is at 2.540.
- Malaysian market closed higher at 1636. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1620. RSI of 51, is on a buy divergence. Today’s range is between 1630 and 1647.
- CPO Dec futures is lower at RM2588. Support is at 2569.
- Trading : TM ( 4863 : 6.18 ) : Take profit, AFG ( 2488 : 4.09 ) : Targeting 4.35/Stop loss 4.00
Thursday 27 September 2012
Morning Coffee - 28 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Advance as Spain Pledges Deficit Cuts; as Spain pledged to cut its deficit and speculation grew that China’s government will do more to support economic growth. The S&P 500 rose 1 percent to 1,447.15 at 4 p.m. New York time, after slumping 1.9 percent in five days. The Dow Jones Industrial Average added 72.46 points, or 0.5 percent, to 13,485.97. Volume for exchange-listed stocks in the U.S. was 5.7 billion shares, or 4.4 percent below the three-month average.
European Stocks Rise Amid Speculation of China Stimulus; fter falling the most in two months yesterday, amid speculation China may announce new stimulus measures to bolster economic growth and as Spain’s cabinet approved the 2013 budget. France’s CAC 40 rose 0.7 percent, while the U.K.’s FTSE 100 and Germany’s DAX both gained 0.2 percent.
Oil Rises for a Second Day in New York on U.S. Economic Outlook; headed for the biggest quarterly gain this year before a report that may show personal spending rose in the U.S., signaling an economic recovery that may boost fuel demand. Crude for November delivery gained as much as 54 cents to $92.39 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.23 at 9:31 a.m. Sydney time. The contract yesterday climbed $1.87 to $91.35. Prices are up 8.6 percent this quarter and down 4.4 percent this month.
CORPORATE NEWS
V.S. Industry distributes 70.5% of profit; The integrated Electronic Manufacturing Services (EMS) provider's net profit rose 39.3% to RM38.6mil in the financial year. The dividend will be payable on Oct 25 to shareholders whose names appear on the company's Record of Depositors on Oct 12.
EPF, Fernandes, Kamarudin increase stakes in AirAsia; AirAsia shares had experienced some sell-down recently on concerns of intensifying competition domestically and regionally. The market had also been concerned that Malindo Airways, which was launched earlier in the month, would give AirAsia solid competition. Market dealers said that the move to increase stakes by AirAsia's key directors showed that they were committed to the business despite the impending competition from Malindo.
Yinson posts net profit of RM10.68m; or an earnings of 5.02 sen per share for the second quarter to July 31 this year. It announced a record second quarter revenue of RM235.8 million, up 48.62 per cent from RM158.6 million previously. The revenue growth is mainly due to the increased contribution from the trucking, trading and marine transport segments.
Gamuda nets RM566m; ended July 31 this year, up from RM432.95 million registered last year. Gamuda said the construction division had gotten a boost due to the higher work progress from the electrifying double-tracking project. Its property division recorded increased profit from existing projects in Malaysia and the land sale to Aeon Co of Japan in Caledon City, Vietnam.
Source:Jupiter Securities Research, 28 September 2012
U.S. Stocks Advance as Spain Pledges Deficit Cuts; as Spain pledged to cut its deficit and speculation grew that China’s government will do more to support economic growth. The S&P 500 rose 1 percent to 1,447.15 at 4 p.m. New York time, after slumping 1.9 percent in five days. The Dow Jones Industrial Average added 72.46 points, or 0.5 percent, to 13,485.97. Volume for exchange-listed stocks in the U.S. was 5.7 billion shares, or 4.4 percent below the three-month average.
European Stocks Rise Amid Speculation of China Stimulus; fter falling the most in two months yesterday, amid speculation China may announce new stimulus measures to bolster economic growth and as Spain’s cabinet approved the 2013 budget. France’s CAC 40 rose 0.7 percent, while the U.K.’s FTSE 100 and Germany’s DAX both gained 0.2 percent.
Oil Rises for a Second Day in New York on U.S. Economic Outlook; headed for the biggest quarterly gain this year before a report that may show personal spending rose in the U.S., signaling an economic recovery that may boost fuel demand. Crude for November delivery gained as much as 54 cents to $92.39 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.23 at 9:31 a.m. Sydney time. The contract yesterday climbed $1.87 to $91.35. Prices are up 8.6 percent this quarter and down 4.4 percent this month.
CORPORATE NEWS
V.S. Industry distributes 70.5% of profit; The integrated Electronic Manufacturing Services (EMS) provider's net profit rose 39.3% to RM38.6mil in the financial year. The dividend will be payable on Oct 25 to shareholders whose names appear on the company's Record of Depositors on Oct 12.
EPF, Fernandes, Kamarudin increase stakes in AirAsia; AirAsia shares had experienced some sell-down recently on concerns of intensifying competition domestically and regionally. The market had also been concerned that Malindo Airways, which was launched earlier in the month, would give AirAsia solid competition. Market dealers said that the move to increase stakes by AirAsia's key directors showed that they were committed to the business despite the impending competition from Malindo.
Yinson posts net profit of RM10.68m; or an earnings of 5.02 sen per share for the second quarter to July 31 this year. It announced a record second quarter revenue of RM235.8 million, up 48.62 per cent from RM158.6 million previously. The revenue growth is mainly due to the increased contribution from the trucking, trading and marine transport segments.
Gamuda nets RM566m; ended July 31 this year, up from RM432.95 million registered last year. Gamuda said the construction division had gotten a boost due to the higher work progress from the electrifying double-tracking project. Its property division recorded increased profit from existing projects in Malaysia and the land sale to Aeon Co of Japan in Caledon City, Vietnam.
Source:Jupiter Securities Research, 28 September 2012
Stock Overview - IJM - 28 Sep 2012
IJM ( 3335 : 4.73 ) : Targeting 5.00/Stop loss 4.62
Description
Resistance : 5.00
Support : 4.62
RSI of 33
RSI is on the rise
STOCHASTIC
It is oversold
Comment
Following the recent sharp sell down to 4.51, it is in for a technical rebound to test 5.00 resistance
Trading Strategy
Buy. Stop loss is at 4.62
Source:Jupiter Securities Research, 28 September 2012
Description
Resistance : 5.00
Support : 4.62
RSI of 33
RSI is on the rise
STOCHASTIC
It is oversold
Comment
Following the recent sharp sell down to 4.51, it is in for a technical rebound to test 5.00 resistance
Trading Strategy
Buy. Stop loss is at 4.62
Source:Jupiter Securities Research, 28 September 2012
Stock Overview - HARTA - 28 Sep 2012
HARTA ( 5168 : 4.35 ) : Targeting 4.70/Stop loss 4.20
Description
Resistance : 4.70 4.92
Support : 4.26
RSI of 47
RSI is on the rise
STOCHASTIC
It is oversold
Comment
The current recovery is heading for 4.70
Trading Strategy
Buy. Stop loss is at 4.20
Source:Jupiter Securities Research, 28 September 2012
Description
Resistance : 4.70 4.92
Support : 4.26
RSI of 47
RSI is on the rise
STOCHASTIC
It is oversold
Comment
The current recovery is heading for 4.70
Trading Strategy
Buy. Stop loss is at 4.20
Source:Jupiter Securities Research, 28 September 2012
Daily Summary - 28 Sep 2012
YOUR MORNING COFFEE – Friday 28/9/2012
SUMMARY
SUMMARY
- Wall St closed 0.5% higher after Spain released its 2012 Budget, signalling the willingness to move forward. Weekly initial jobless claims dipped to 359,000, the lowest since July.
- Dow of 13,485, is slightly weak. Support is at 13,400. RSI of 58, is neutral.
- DOLLAR INDEX is lower at 79.6. Resistance is at 80.5.
- Crude oil is higher at USD91.8. Resistance is at 96.0.
- Dollar yen is lower at 77.6 yen. Support is at 77.6.
- Euro/dollar is higher at 1.291. Resistance is at 1.320.
- Gold is higher at USD1776. Support is at 1720.
- Shanghai closed higher at 2,056.
- Singapore STI closed higher at 3,060.
- Ringgit is firmer at 3.069. Downside is at 3.09.
- S’pore ringgit is higher at 2.503. Upside is at 2.540.
- Malaysian market closed higher at 1627. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1620. RSI of 48, is on a buy divergence. Today’s range is between 1624 and 1634.
- CPO Dec futures is lower at RM2594. Support is at 2569.
- Trading : HARTA ( 5168 : 4.35 ) : Targeting 4.70/Stop loss 4.20, IJM ( 3335 : 4.73 ) : Targeting 5.00/Stop loss 4.62,
Wednesday 26 September 2012
Morning Coffee - 27 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
S&P 500 Has Longest Drop Since July Amid Europe Concern; sending the Standard & Poor’s 500 Index to its longest retreat since July, as concern grew Europe’s debt crisis is worsening. The S&P 500 slid 0.6 percent to 1,433.32 in New York. The benchmark index is down 1.9 percent over five days. The Dow Jones Industrial Average lost 44.04 points, or 0.3 percent, to 13,413.51 today. Almost 6.4 billion shares traded hands on U.S. exchanges, 6.3 percent higher than the three month average.
European Stocks Drop Most Since July Before Spain Budget; as Spain prepared to present its budget and Federal Reserve Bank of Philadelphia President Charles Plosser said the third round of bond buying may fail to stimulate growth. France’s CAC 40 tumbled 2.8 percent and Germany’s DAX slid 2 percent. The U.K.’s FTSE 100 lost 1.6 percent.
Oil Trades Near Eight-Week Low on Weaker Demand, European Crisis; after U.S. fuel demand slipped to the weakest since April amid concern the European debt crisis will worsen and derail the global economy. Oil for November delivery was at $90.14 a barrel, up 16 cents, in electronic trading on the New York Mercantile Exchange at 9:22 a.m. Sydney time. The contract yesterday fell $1.39 to $89.98, the lowest close since Aug. 2. Prices are up 6.1 percent this quarter and down 8.8 percent this year.
CORPORATE NEWS
Ireka eyes new MRT jobs; also plans property projects worth RM1.9bil; Recently, the company was awarded a RM268.6mil job by UEM Land Bhd to construct a residential and commercial property development in Nusajaya, Johor.Its order book currently stands at RM745mil, of which about RM400mil is outstanding, and the replenishment of the order book will remain the group's priority for this financial year.
IJM gives rationale for buying Scomi stake, says selldown of shares is overreation; proposed acquisition of a stake in Scomi would give IJM a “good entry point into a new sector that has a lot of growth potential”. IJM said it was also looking at tapping into Scomi's logistics engineering business to complement its construction and civil engineering capabilities.
StarbIz
AirAsia open to talks with Malindo Airways; AirAsia has had a virtually uninterrupted domination over Malaysia's air space since it started operations in 2011. Fernandes now seems to have zeroed in on Malindo Airways as a potential rival which could give Asia's top budget carrier a run for its money. That seems possible, as Malindo Airways plans to offer flights within Malaysia and Indonesia, as well as to Thailand, China, India, Japan and Australia.
SILK buys 2 vessels from Muhibbah for RM240.6m; through subsidiary Jasa Merin Sdn Bhd, has bought two vessels for a combined RM240.6 million.The anchor handling tug supply (AHTS) vessels were bought for RM120.3 million each from Muhibbah Engineering (M) Bhd. The acquisitions will be funded by internally generated funds and bank borrowings, SILK said in a statement yesterday.Deliveries are expected to be made by December this year, it added.
Btimes
Source:Jupiter Securities Research, 27 September 2012
S&P 500 Has Longest Drop Since July Amid Europe Concern; sending the Standard & Poor’s 500 Index to its longest retreat since July, as concern grew Europe’s debt crisis is worsening. The S&P 500 slid 0.6 percent to 1,433.32 in New York. The benchmark index is down 1.9 percent over five days. The Dow Jones Industrial Average lost 44.04 points, or 0.3 percent, to 13,413.51 today. Almost 6.4 billion shares traded hands on U.S. exchanges, 6.3 percent higher than the three month average.
European Stocks Drop Most Since July Before Spain Budget; as Spain prepared to present its budget and Federal Reserve Bank of Philadelphia President Charles Plosser said the third round of bond buying may fail to stimulate growth. France’s CAC 40 tumbled 2.8 percent and Germany’s DAX slid 2 percent. The U.K.’s FTSE 100 lost 1.6 percent.
Oil Trades Near Eight-Week Low on Weaker Demand, European Crisis; after U.S. fuel demand slipped to the weakest since April amid concern the European debt crisis will worsen and derail the global economy. Oil for November delivery was at $90.14 a barrel, up 16 cents, in electronic trading on the New York Mercantile Exchange at 9:22 a.m. Sydney time. The contract yesterday fell $1.39 to $89.98, the lowest close since Aug. 2. Prices are up 6.1 percent this quarter and down 8.8 percent this year.
CORPORATE NEWS
Ireka eyes new MRT jobs; also plans property projects worth RM1.9bil; Recently, the company was awarded a RM268.6mil job by UEM Land Bhd to construct a residential and commercial property development in Nusajaya, Johor.Its order book currently stands at RM745mil, of which about RM400mil is outstanding, and the replenishment of the order book will remain the group's priority for this financial year.
IJM gives rationale for buying Scomi stake, says selldown of shares is overreation; proposed acquisition of a stake in Scomi would give IJM a “good entry point into a new sector that has a lot of growth potential”. IJM said it was also looking at tapping into Scomi's logistics engineering business to complement its construction and civil engineering capabilities.
StarbIz
AirAsia open to talks with Malindo Airways; AirAsia has had a virtually uninterrupted domination over Malaysia's air space since it started operations in 2011. Fernandes now seems to have zeroed in on Malindo Airways as a potential rival which could give Asia's top budget carrier a run for its money. That seems possible, as Malindo Airways plans to offer flights within Malaysia and Indonesia, as well as to Thailand, China, India, Japan and Australia.
SILK buys 2 vessels from Muhibbah for RM240.6m; through subsidiary Jasa Merin Sdn Bhd, has bought two vessels for a combined RM240.6 million.The anchor handling tug supply (AHTS) vessels were bought for RM120.3 million each from Muhibbah Engineering (M) Bhd. The acquisitions will be funded by internally generated funds and bank borrowings, SILK said in a statement yesterday.Deliveries are expected to be made by December this year, it added.
Btimes
Source:Jupiter Securities Research, 27 September 2012
Stock Overview - SUPERMX - 27 Sept 2012
SUPERMX ( 7106 : 2.01 ) : Targeting 2.46/Stop loss 1.92
Description
Resistance : 2.18 2.46
Support : 1.92
RSI of 45
RSI is on a buy divergence
STOCHASTIC
It is oversold
Comment
Following the recent pullback to 1.93, it is due for a technical rebound
Trading Strategy
Buy. Stop loss is at 1.92
Source:Jupiter Securities Research, 27 September 2012
Description
Resistance : 2.18 2.46
Support : 1.92
RSI of 45
RSI is on a buy divergence
STOCHASTIC
It is oversold
Comment
Following the recent pullback to 1.93, it is due for a technical rebound
Trading Strategy
Buy. Stop loss is at 1.92
Source:Jupiter Securities Research, 27 September 2012
Stock Overview - DIGI - 27 Sept 2012
DIGI ( 6947 : 5.07 ) : Targeting 5.32/Stop loss 4.98
Description
Resistance : 5.12 5.32
Support : 4.98
RSI of 68
RSI is on the rise
STOCHASTIC
It is neutral
Comment
The current uptrend is heading for 5.32
Trading Strategy
Buy. Stop loss is at 4.98
Source:Jupiter Securities Research, 27 September 2012
Description
Resistance : 5.12 5.32
Support : 4.98
RSI of 68
RSI is on the rise
STOCHASTIC
It is neutral
Comment
The current uptrend is heading for 5.32
Trading Strategy
Buy. Stop loss is at 4.98
Source:Jupiter Securities Research, 27 September 2012
Daily Summary - 27 Sep 2012
YOUR MORNING COFFEE – Thursday 27/9/2012
SUMMARY
- Wall St closed 0.3% lower over unrest in Spain and Greece. New home sales declined 0.3% in August.
- Dow of 13,413, is slightly weak. Support is at 13,400. RSI of 54, is weakening.
- DOLLAR INDEX is higher at 79.8. Resistance is at 80.5.
- Crude oil is lower at USD90.0. Support is at 87.0.
- Dollar yen is lower at 77.7 yen. Support is at 77.6.
- Euro/dollar is lower at 1.287. Resistance is at 1.320.
- Gold is lower at USD1753. Support is at 1720.
- Shanghai closed lower at 2,004.
- Singapore STI closed lower at 3,046.
- Ringgit is weaker at 3.080. Downside is at 3.09.
- S’pore ringgit is lower at 2.500. Upside is at 2.540.
- Malaysian market closed higher at 1619. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 42, is on a buy divergence. Today’s range is between 1614 and 1624.
- CPO Dec futures is lower at RM2619. Support is at 2600.
- Trading : DIGI ( 6947 : 5.07 ) : Targeting 5.32/Stop loss 4.98, SUPERMX ( 7106 : 2.01 ) : Targeting 2.46/Stop loss 1.92
Morning Coffee - 26 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Fall Amid Concern Over Stimulus Efforts; erasing earlier gains after benchmark indexes approached fiveyear highs, amid concern that global stimulus measures won’t be enough to boost growth at the world’s largest economy. The Standard & Poor’s 500 Index retreated 1.1 percent to 1,441.59 at 4 p.m. New York time, the biggest decline since June 25. The index dropped a fourth day. The Dow Jones Industrial Average decreased 101.37 points, or 0.8 percent, to 13,457.55. Volume for exchange-listed stocks in the U.S. was 6.7 billion shares today, or 12 percent above the three-month average.
European Stocks Gain on U.S. Home-Price, Confidence Data; as U.S. home prices and consumer confidence increased more than forecast, adding to signs the world’s largest economy is strengthening. Germany’s DAX added 0.2 percent and France’s CAC 40 increased 0.5 percent. The U.K.’s FTSE 100 Index gained 0.4 percent.
Oil Drops From Seven-Week Low on Rising Supplies, Growth Outlook; after a report showed rising U.S. stockpiles and the Federal Reserve Bank of Philadelphia President Charles Plosser said a new stimulus plan probably won’t boost economic growth. Crude for November delivery fell as much as 64 cents to $90.73 a barrel in electronic trading on the New York Mercantile Exchange and was at $90.93 at 9:19 a.m. Sydney time. Futures slid 56 cents to $91.37 yesterday, the lowest close since Aug. 2, and are down 8 percent this year.
CORPORATE NEWS
Shareholders approve Hing Yiap’s brand acquisitions; Hing Yiap Group Bhd's proposed acquisition of a variety of brands, which include Anakku, Audrey and Mickey Junior for RM245mil in cash and shares from Asia Brands Corp Bhd. While there is no profit guarantee for the acquisition, based on historical figures, the acquisition of the new companies will increase Hing Yiap's earnings per share from 32 sen to 54 sen based on its financial year ended June 30, 2011.
Miti working on roadmap for steel industry; to finalise on the roadmap for the future competitiveness of the strategic RM40bil local steel industry, said Boston Consulting Group (BCG) partner and managing director Nor Azah Razali. BCG forecast that by 2020, the local steel sector would be able to contribute 6.5% to the GDP and employed 225,000 workforce.
StarbIz
Top Glove plans RM3b investment; will pump RM3 billion into domestic investments over the next 15 years. This commitment will generate RM75 billion in export sales revenue for Malaysia, said its chairman Tan Sri Lim Wee-Chai. Under the company's plan, 40 new factories equipped with new and high-tech automated machinery will be constructed.
KKB secures RM11m Petronas job; contract extension from Petronas Dagangan for the fabrication, supply and delivery of 14kg and 50kg LPG Cylinders. The extension is for a period of one year effective September 2012 and the contract is estimated to be worth about RM11 million.
Btimes
Source:Jupiter Securities Research, 26 September 2012
U.S. Stocks Fall Amid Concern Over Stimulus Efforts; erasing earlier gains after benchmark indexes approached fiveyear highs, amid concern that global stimulus measures won’t be enough to boost growth at the world’s largest economy. The Standard & Poor’s 500 Index retreated 1.1 percent to 1,441.59 at 4 p.m. New York time, the biggest decline since June 25. The index dropped a fourth day. The Dow Jones Industrial Average decreased 101.37 points, or 0.8 percent, to 13,457.55. Volume for exchange-listed stocks in the U.S. was 6.7 billion shares today, or 12 percent above the three-month average.
European Stocks Gain on U.S. Home-Price, Confidence Data; as U.S. home prices and consumer confidence increased more than forecast, adding to signs the world’s largest economy is strengthening. Germany’s DAX added 0.2 percent and France’s CAC 40 increased 0.5 percent. The U.K.’s FTSE 100 Index gained 0.4 percent.
Oil Drops From Seven-Week Low on Rising Supplies, Growth Outlook; after a report showed rising U.S. stockpiles and the Federal Reserve Bank of Philadelphia President Charles Plosser said a new stimulus plan probably won’t boost economic growth. Crude for November delivery fell as much as 64 cents to $90.73 a barrel in electronic trading on the New York Mercantile Exchange and was at $90.93 at 9:19 a.m. Sydney time. Futures slid 56 cents to $91.37 yesterday, the lowest close since Aug. 2, and are down 8 percent this year.
CORPORATE NEWS
Shareholders approve Hing Yiap’s brand acquisitions; Hing Yiap Group Bhd's proposed acquisition of a variety of brands, which include Anakku, Audrey and Mickey Junior for RM245mil in cash and shares from Asia Brands Corp Bhd. While there is no profit guarantee for the acquisition, based on historical figures, the acquisition of the new companies will increase Hing Yiap's earnings per share from 32 sen to 54 sen based on its financial year ended June 30, 2011.
Miti working on roadmap for steel industry; to finalise on the roadmap for the future competitiveness of the strategic RM40bil local steel industry, said Boston Consulting Group (BCG) partner and managing director Nor Azah Razali. BCG forecast that by 2020, the local steel sector would be able to contribute 6.5% to the GDP and employed 225,000 workforce.
StarbIz
Top Glove plans RM3b investment; will pump RM3 billion into domestic investments over the next 15 years. This commitment will generate RM75 billion in export sales revenue for Malaysia, said its chairman Tan Sri Lim Wee-Chai. Under the company's plan, 40 new factories equipped with new and high-tech automated machinery will be constructed.
KKB secures RM11m Petronas job; contract extension from Petronas Dagangan for the fabrication, supply and delivery of 14kg and 50kg LPG Cylinders. The extension is for a period of one year effective September 2012 and the contract is estimated to be worth about RM11 million.
Btimes
Source:Jupiter Securities Research, 26 September 2012
Tuesday 25 September 2012
Stock Overview - PCHEM - 26 Sep 2012
PCHEM ( 5183 : 6.40 ) : Targeting 6.71/Stop loss 6.21
Description
Resistance : 6.71
Support : 6.21 6.31
RSI of 45
RSI is neutral
STOCHASTIC
It is neutral
Comment
It has completed its recent correction at the low of 6.19. With a good support at 6.21, it is on a technical rebound to 6.71
Trading Strategy
Buy. Stop loss is at 6.21
Source:Jupiter Securities Research, 26 September 2012
Description
Resistance : 6.71
Support : 6.21 6.31
RSI of 45
RSI is neutral
STOCHASTIC
It is neutral
Comment
It has completed its recent correction at the low of 6.19. With a good support at 6.21, it is on a technical rebound to 6.71
Trading Strategy
Buy. Stop loss is at 6.21
Source:Jupiter Securities Research, 26 September 2012
Stock Overview - SCOMI - 26 Sep 2012
SCOMI ( 7158 : 0.38 ) : Take profit
Description
Resistance : 0.41
Support : 0.36
RSI of 73
RSI is approaching overbought
STOCHASTIC
It is on an upswing
Comment
On the 13/9/2012 buy call at 0.33, we are recommending to take profit as it may be affected by the ‘sell after fact’ profit taking
Trading Strategy
Take profit
Source:Jupiter Securities Research, 26 September 2012
Description
Resistance : 0.41
Support : 0.36
RSI of 73
RSI is approaching overbought
STOCHASTIC
It is on an upswing
Comment
On the 13/9/2012 buy call at 0.33, we are recommending to take profit as it may be affected by the ‘sell after fact’ profit taking
Trading Strategy
Take profit
Source:Jupiter Securities Research, 26 September 2012
Daily Summary - 26 Sept 2012
YOUR MORNING COFFEE – Wednesday 26/9/2012
SUMMARY
Source:Jupiter Securities Research, 26 September 2012
SUMMARY
- Wall St closed 0.7% lower over worries about global growth, despite positive housing figures. S&P Case-Shiller index showed that home prices rose for the third month.
- Dow of 13,457, is slightly weak. Support is at 13,400. RSI of 58, is weakening.
- DOLLAR INDEX is higher at 79.7. Resistance is at 80.5.
- Crude oil is lower at USD91.0. Support is at 87.0.
- Dollar yen is lower at 77.7 yen. Support is at 77.6.
- Euro/dollar is lower at 1.290. Resistance is at 1.320.
- Gold is lower at USD1761. Support is at 1684.
- Shanghai closed lower at 2,029.
- Singapore STI closed higher at 3,071.
- Ringgit is weaker at 3.073. Downside is at 3.09.
- S’pore ringgit is lower at 2.500. Upside is at 2.540.
- Malaysian market closed higher at 1618. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 42, is on a buy divergence. Today’s range is between 1614 and 1624.
- CPO Dec futures is higher at RM2664. Support is at 2600.
- Trading : SCOMI ( 7158 : 0.38 ) : Take profit, PCHEM ( 5183 : 6.40 ) : Targeting 6.71/Stop loss 6.21
Source:Jupiter Securities Research, 26 September 2012
Morning Coffee - 25 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
S&P 500 Has Longest Slump in 7 Weeks on European Crisis; as European leaders clashed on ways to stem the debt crisis and data from China and Germany signaled the slowdown is deepening. The S&P 500 (SPX) dropped 0.2 percent to 1,456.89 at 4 p.m. New York time. The Dow Jones Industrial Average lost 20.55 points, or 0.2 percent, to 13,558.92 for its second straight decline. Volume for exchange-listed stocks in the U.S. was 5.5 billion shares today, or 7.5 percent below the threemonth average.
European Stocks Drop Amid Banking-Union Disagreement; as Germany and France disagreed on when to introduce a banking union for the euro area and a report added to concern about the strength of China’s economy. Germany’s DAX slipped 0.5 percent, while the U.K.’s FTSE 100 retreated 0.2 percent. France’s CAC 40 dropped 1 percent.
Oil Trades Near Two-Day Low as U.S. Stockpiles Seen Increasing; before a report that may show inventories climbed for a third week in the U.S., the world’s biggest crude consumer. Oil for November delivery was at $92.05 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 8:54 a.m. Sydney time. The contract fell 96 cents to $91.93 yesterday, the lowest close since Sept. 20. Front-month prices are down 6.9 percent this year.
CORPORATE NEWS
Abu Sahid owns big Scomi stake; Maju Group executive chairman Tan Sri Abu Sahid Mohamed has emerged as a substantial shareholder in oil and gas outfit Scomi Group Bhd with a 8.75% stake.
Masteel hat-trick?; is optimistic about achieving a third straight year of record revenue in 2012 due to anticipated higher sales of long steel products in the regional and domestic markets. The integrated long steel manufacturer achieved record revenue of RM1.25bil last year after posting RM1bil in 2010.
StarbIz
IJM said buying stake in Scomi; CONSTRUCTION specialist IJM Corp Bhd is believed to be buying a strategic stake in Scomi Group Bhd, giving it access to the lucrative oil and gas sector. Scomi is one of the world's leading providers of oilfield drilling fluids solutions and drilling waste management services. It is also a leading supplier of monorail projects through its Scomi Rail subsidiary. Listed companies under the Scomi Group are Scomi Marine Bhd and Scomi Engineering Bhd.
Sapura Kencana Q2 revenue hits RM2.06b; Overall, for the first half of the year ended December 31 2012, the group revenue has more than doubled to RM2.74 billion compared with RM1.25 billion in the first half of the previous year. The higher revenue was mainly due to the merger of SapuraCrest and Kencana, but profit after tax was only slightly higher at RM269.38 million in the first half of this year, compared with RM220.31 million previously.
Btimes
Source:Jupiter Securities Research, 25 September 2012
S&P 500 Has Longest Slump in 7 Weeks on European Crisis; as European leaders clashed on ways to stem the debt crisis and data from China and Germany signaled the slowdown is deepening. The S&P 500 (SPX) dropped 0.2 percent to 1,456.89 at 4 p.m. New York time. The Dow Jones Industrial Average lost 20.55 points, or 0.2 percent, to 13,558.92 for its second straight decline. Volume for exchange-listed stocks in the U.S. was 5.5 billion shares today, or 7.5 percent below the threemonth average.
European Stocks Drop Amid Banking-Union Disagreement; as Germany and France disagreed on when to introduce a banking union for the euro area and a report added to concern about the strength of China’s economy. Germany’s DAX slipped 0.5 percent, while the U.K.’s FTSE 100 retreated 0.2 percent. France’s CAC 40 dropped 1 percent.
Oil Trades Near Two-Day Low as U.S. Stockpiles Seen Increasing; before a report that may show inventories climbed for a third week in the U.S., the world’s biggest crude consumer. Oil for November delivery was at $92.05 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 8:54 a.m. Sydney time. The contract fell 96 cents to $91.93 yesterday, the lowest close since Sept. 20. Front-month prices are down 6.9 percent this year.
CORPORATE NEWS
Abu Sahid owns big Scomi stake; Maju Group executive chairman Tan Sri Abu Sahid Mohamed has emerged as a substantial shareholder in oil and gas outfit Scomi Group Bhd with a 8.75% stake.
Masteel hat-trick?; is optimistic about achieving a third straight year of record revenue in 2012 due to anticipated higher sales of long steel products in the regional and domestic markets. The integrated long steel manufacturer achieved record revenue of RM1.25bil last year after posting RM1bil in 2010.
StarbIz
IJM said buying stake in Scomi; CONSTRUCTION specialist IJM Corp Bhd is believed to be buying a strategic stake in Scomi Group Bhd, giving it access to the lucrative oil and gas sector. Scomi is one of the world's leading providers of oilfield drilling fluids solutions and drilling waste management services. It is also a leading supplier of monorail projects through its Scomi Rail subsidiary. Listed companies under the Scomi Group are Scomi Marine Bhd and Scomi Engineering Bhd.
Sapura Kencana Q2 revenue hits RM2.06b; Overall, for the first half of the year ended December 31 2012, the group revenue has more than doubled to RM2.74 billion compared with RM1.25 billion in the first half of the previous year. The higher revenue was mainly due to the merger of SapuraCrest and Kencana, but profit after tax was only slightly higher at RM269.38 million in the first half of this year, compared with RM220.31 million previously.
Btimes
Source:Jupiter Securities Research, 25 September 2012
Monday 24 September 2012
Stock Overview - SIME - 25 Sept 2012
SIME ( 4197 : 9.75 ) : Targeting 11.20/Stop loss 9.40
Description
Resistance : 11.20
Support : 9.40 9.60
RSI of 38
RSI is neutral
STOCHASTIC
It is neutral
Comment
The recent pullback from 10.00, has found a support at the 50% retracement of 9.60, with a stronger support at 9.40. Overall, it is heading higher to 11.20
Trading Strategy
Buy. Stop loss is at 9.40
Source:Jupiter Securities Research, 25 September 2012
Description
Resistance : 11.20
Support : 9.40 9.60
RSI of 38
RSI is neutral
STOCHASTIC
It is neutral
Comment
The recent pullback from 10.00, has found a support at the 50% retracement of 9.60, with a stronger support at 9.40. Overall, it is heading higher to 11.20
Trading Strategy
Buy. Stop loss is at 9.40
Source:Jupiter Securities Research, 25 September 2012
Stock Overview - TM - 25 Sept 2012
TM ( 4863 : 5.86 ) : Targeting 6.10/Stop loss 5.76
Description
Resistance : 6.10
Support : 5.79
RSI of 41
RSI is approaching oversold
STOCHASTIC
It is approaching oversold
Comment
The recent correction has ended at 5.79, as technicals are approaching oversold indicating a limited downside
Trading Strategy
Buy. Stop loss is at 5.76
Source:Jupiter Securities Research,25 September 2012
Description
Resistance : 6.10
Support : 5.79
RSI of 41
RSI is approaching oversold
STOCHASTIC
It is approaching oversold
Comment
The recent correction has ended at 5.79, as technicals are approaching oversold indicating a limited downside
Trading Strategy
Buy. Stop loss is at 5.76
Source:Jupiter Securities Research,25 September 2012
Daily Summary - 25 Sep 2012
YOUR MORNING COFFEE – Tuesday 25/9/2012
SUMMARY
SUMMARY
- Wall St closed 0.15% lower, due to fear over the global business climate. Germany’s business climate index dipped to its lowest level since February 2010.
- Dow of 13,558, is on a technical rebound. Resistance is at 13,924. RSI of 66, is overbought.
- DOLLAR INDEX is higher at 79.5. Resistance is at 80.5.
- Crude oil is lower at USD91.6. Support is at 87.0.
- Dollar yen is lower at 77.8 yen. Support is at 77.6.
- Euro/dollar is lower at 1.294. Resistance is at 1.320.
- Gold is lower at USD1764. Support is at 1684.
- Shanghai closed higher at 2,033.
- Singapore STI closed lower at 3,071.
- Ringgit is weaker at 3.072. Downside is at 3.09.
- S’pore ringgit is higher at 2.502. Upside is at 2.540.
- Malaysian market closed lower at 1612. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 38, is on a buy divergence. Today’s range is between 1608 and 1619.
- CPO Dec futures is lower at RM2644. Support is at 2600.
- Trading : TM ( 4863 : 5.86 ) : Targeting 6.10/Stop loss 5.76, SIME ( 4197 : 9.75 ) : Targeting 11.20/Stop loss 9.40
Sunday 23 September 2012
Morning Coffee - 24 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
S&P 500 Snaps Two-Week Rally Amid Global Economy Concern; as concern about slowing global growth overshadowed optimism about central bank stimulus. The S&P
500 slipped 0.4 percent to 1,460.15, snapping a two-week rally. The benchmark index is up 16 percent for 2012. The Dow Jones Industrial Average lost 13.90 points, or 0.1 percent, to 13,579.47 during the week. The S&P 500 has jumped 14 percent from a June low amid optimism central banks around the world will take
steps to stimulate the economy. Earlier this month, the Federal Reserve unveiled another round of quantitative easing and the European Central Bank announced specifics of its bondbuying plan.
European Stocks Are Little Changed This Week; amid speculation that the rally in equities has overshot the outlook for corporate earnings and the region’s economy. The FTSE 100 slipped 2.02 points, or less than 0.1 percent, to 5,852.62 at the close of trading in London. The gauge erased an earlier advance of as much as 0.6 percent as options on the index expired in a process known as witching.
Oil Trades Near One-Week High Amid Increased Middle East Tension; on signs of increased tension in the Middle East, the supplier of a third of the world’s crude. Oil for November delivery was at $92.92 a barrel, up 3 cents, in electronic trading on the New York Mercantile Exchange at 9:42 a.m. Sydney
time. It climbed 47 cents to $92.89 on Sept. 21, the highest close since Sept. 18. Prices fell 6.2 percent last week and are down 6 percent this year.
CORPORATE NEWS
Strong demand for wood-based products; Dominant Enterprise Bhd expects Malaysia to offer good growth prospects for the company as the domestic demand for wood-based products is still good.
Palm oil prices expected to fall further this year says industry meeting; as slowing economic growth reins in demand for biofuel production, leading to higher stocks at top producers Indonesia and Malaysia, an industry meeting concluded on Sunday.
StarbIz
AirAsia closer to acquiring more Airbus aircraft; is getting closer in purchasing an additional 100 aircraft from Airbus as part of the carrier's efforts to meet rising demand for cheap air travel in Southeast Asia, according to its chief executive.
Rest of Bandar Seri Putra will be ready in next 5 to 7 years; UNITED Malayan Land Bhd (UM Land), a property developer, expects the entire Bandar Seri Putra development to be completed within the next 5-7 years.The company, which
started developing Bandar Seri Putra in 1997, has currently developed about 283.28ha in Bandar Seri Putra, with a gross development value of more than RM1.75 billion.
Btimes
Source:Jupiter Securities Research 24 September 2012
Stock Overview - JOHOTIN - 24 Sep 2012
JOHOTIN ( 7167 : 2.06 ) : Targeting 2.36/Stop loss 1.94
Description
Resistance : 2.36
Support : 1.94
RSI of 58
RSI is neutral
STOCHASTIC
It is on a technical rebound
Comment
The recent upward move is heading for 2.36
Trading Strategy
Buy. Stop loss is at 1.94
Source:Jupiter Securities Research 24 September 2012
Stock Overview - INCKEN - 24 Sep 2012
INCKEN ( 2607 : 0.65 ) : Take profit
Description
Resistance : 0.68
Support : 0.60
RSI of 67
RSI is approaching overbought
STOCHASTIC
It is approaching overbought
Comment
On the 12/9/2012 buy call at 0.615, we are recommending to take profit as the upside is limited due to overbought technicals
Trading Strategy
Take profit
Source:Jupiter Securities Research 24 September 2012
Stock Overview - SYSCORP - 24 Sept 2012
SYSCORP ( 5173 : 0.46 ) : Targeting 0.57
Description
Resistance : 0.57
Support : 0.43
RSI of 80
RSI is overbought
STOCHASTIC
It is overbought
Comment
Following the consolidation breakout, it is heading for 0.57
Trading Strategy
Buy. Stop loss is at 0.43
Source:Jupiter Securities Research 24 September 2012
Daily Summary - 24 Sep 2012
YOUR MORNING COFFEE – Monday 24/9/2012
SUMMARY
- Wall St closed 0.13% lower, a pause following the recent US Fed’s QE3. HSBC reported that manufacturing in China continued to contract for the 11th month. Weekly US initial jobless claims dipped to 382,000. Dow of 13,579, is on a technical rebound. Resistance is at 13,924. RSI of 68, is overbought.
- DOLLAR INDEX is higher at 79.4. Resistance is at 80.5.
- Crude oil is higher at USD92.6. Support is at 87.0.
- Dollar yen is lower at 78.1 yen. Support is at 77.6.
- Euro/dollar is lower at 1.297. Resistance is at 1.320.
- Gold is lower at USD1770. Support is at 1684.
- Shanghai closed higher at 2,026.
- Singapore STI closed higher at 3,081.
- Ringgit is stronger at 3.056. Downside is at 3.09.
- S’pore ringgit is lower at 2.494. Upside is at 2.540.
- Malaysian market closed lower at 1623. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 42, is on a buy divergence. Today’s range is between 1619 and 1631.
- CPO Nov futures is lower at RM2737. Support is at 2700.
- Trading : JOHOTIN ( 7167 : 2.06 ) : Targeting 2.36/Stop loss 1.94, INCKEN ( 2607 : 0.65 ) : Take profit, SYSCORP ( 5173 : 0.46 ) : Targeting 0.57
Source:Jupiter Securities Research 24 September 2012
Morning Coffee - 21 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
Most U.S. Stocks Fall on Concern Over Economic Slowdown; as data from China to Japan and Europe increased concern that a global economic slowdown is worsening.The S&P 500 lost 0.1 percent to 1,460.26 at 4 p.m. in New York, trimming an earlier decline of as much as 0.8 percent. The Dow Jones Industrial Average rose 18.97 points, or 0.1 percent, to 13,596.93. Nine stocks fell for every five advancing on U.S. exchanges at 4 p.m., with about 6.2 billion shares trading hands, almost in line with the three-month daily average.
European Stocks Drop on China Manufacturing Report; after a report signaled that Chinese manufacturing will contract for an 11th month, adding to concern the global economic slowdown is deepening. Germany’s DAX slid less than 0.1
percent, while the U.K.’s FTSE 100 and France’s CAC 40 each dropped 0.6 percent.
Oil Rebounds on Bets Biggest Weekly Fall Since June Exaggerated; as investors speculated that the biggest weekly decline in more than three months was exaggerated. Oil for November delivery advanced as much as 60 cents to $93.02 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.86 at 9:15 a.m. Sydney time. It climbed 12 cents yesterday to $92.42. Prices are down 6.2 percent for the week, the biggest decline since the week ended
June 1. The October contract expired at $91.87, down 11 cents.
CORPORATE NEWS
PNB invests big in Astro: is said to be one of the biggest cornerstone investors out of the 22 that the country's largest pay-TV operator Astro Malaysia Holdings Bhd has secured for its US$1.5bil (RM4.5bil) initial public offering (IPO). The indicative price is RM2.70-RM3.00 ringgit per share, and based on the total shares offered, reports said Astro's market share could be worth RM4.1bil to RM4.56bil.
Coastal makes RM111mil sale; will sell two Anchor Handling Tug Supply (AHTS) units and one Subsea Support Vessel (SSV) for RM111mil. The SSV is sold to a new customer from United Arab Emirates while the two AHTS units are sold to a loyal
customer from Indonesia. All of these vessels are expected to be delivered in 2012 and 2013.
StarbIz
AEON Credit quarterly pre-tax rises; the company said its revenue increased to RM112.49 million, during the period under review, from RM83.035 million chalked up previously.
Green light for KNM rights issue; the rights issue would further improve the company's gearing to 0.55 times from 0.71 times as at December 31 2011. About 60 per cent of KNM's total order book of RM5.1 billion is from renewable energy
projects.
Btimes
Source:Jupiter Securities Research 21 September 2012
Most U.S. Stocks Fall on Concern Over Economic Slowdown; as data from China to Japan and Europe increased concern that a global economic slowdown is worsening.The S&P 500 lost 0.1 percent to 1,460.26 at 4 p.m. in New York, trimming an earlier decline of as much as 0.8 percent. The Dow Jones Industrial Average rose 18.97 points, or 0.1 percent, to 13,596.93. Nine stocks fell for every five advancing on U.S. exchanges at 4 p.m., with about 6.2 billion shares trading hands, almost in line with the three-month daily average.
European Stocks Drop on China Manufacturing Report; after a report signaled that Chinese manufacturing will contract for an 11th month, adding to concern the global economic slowdown is deepening. Germany’s DAX slid less than 0.1
percent, while the U.K.’s FTSE 100 and France’s CAC 40 each dropped 0.6 percent.
Oil Rebounds on Bets Biggest Weekly Fall Since June Exaggerated; as investors speculated that the biggest weekly decline in more than three months was exaggerated. Oil for November delivery advanced as much as 60 cents to $93.02 a barrel in electronic trading on the New York Mercantile Exchange and was at $92.86 at 9:15 a.m. Sydney time. It climbed 12 cents yesterday to $92.42. Prices are down 6.2 percent for the week, the biggest decline since the week ended
June 1. The October contract expired at $91.87, down 11 cents.
CORPORATE NEWS
PNB invests big in Astro: is said to be one of the biggest cornerstone investors out of the 22 that the country's largest pay-TV operator Astro Malaysia Holdings Bhd has secured for its US$1.5bil (RM4.5bil) initial public offering (IPO). The indicative price is RM2.70-RM3.00 ringgit per share, and based on the total shares offered, reports said Astro's market share could be worth RM4.1bil to RM4.56bil.
Coastal makes RM111mil sale; will sell two Anchor Handling Tug Supply (AHTS) units and one Subsea Support Vessel (SSV) for RM111mil. The SSV is sold to a new customer from United Arab Emirates while the two AHTS units are sold to a loyal
customer from Indonesia. All of these vessels are expected to be delivered in 2012 and 2013.
StarbIz
AEON Credit quarterly pre-tax rises; the company said its revenue increased to RM112.49 million, during the period under review, from RM83.035 million chalked up previously.
Green light for KNM rights issue; the rights issue would further improve the company's gearing to 0.55 times from 0.71 times as at December 31 2011. About 60 per cent of KNM's total order book of RM5.1 billion is from renewable energy
projects.
Btimes
Source:Jupiter Securities Research 21 September 2012
Thursday 20 September 2012
Stock Overview - FAVCO - 21 Sept 2012
FAVCO ( 7229 : 1.80 ) : Take profit
Description
Resistance : 1.84
Support : 1.70
RSI of 58
RSI is neutral
STOCHASTIC
It is approaching overbought
Comment
Upside is limited as it is approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research, 21 September 2012
Description
Resistance : 1.84
Support : 1.70
RSI of 58
RSI is neutral
STOCHASTIC
It is approaching overbought
Comment
Upside is limited as it is approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research, 21 September 2012
Stock Overview - POHKONG - 21 Sept 2012
POHKONG ( 5080 : 0.51 ) : Buy below 0.50
Description
Resistance : 0.57
Support : 0.47
RSI of 68
RSI is up
STOCHASTIC
It is approaching overbought
Comment
A small pullback is likely, before continuing its upmove to 0.57
Trading Strategy
Buy below 0.50. Stop loss is at 0.47
Source:Jupiter Securities Research, 20 September 2012
Description
Resistance : 0.57
Support : 0.47
RSI of 68
RSI is up
STOCHASTIC
It is approaching overbought
Comment
A small pullback is likely, before continuing its upmove to 0.57
Trading Strategy
Buy below 0.50. Stop loss is at 0.47
Source:Jupiter Securities Research, 20 September 2012
Daily Summary - 21 Sep 2012
YOUR MORNING COFFEE – Friday 21/9/2012
SUMMARY
Source:Jupiter Securities Research, 21 September 2012
SUMMARY
- Wall St closed 0.14% higher, a pause following the recent US Fed’s QE3. HSBC reported that manufacturing in China continued to contract for the 11th month. Weekly US initial jobless claims dipped to 382,000.
- Dow of 13,596, is on a technical rebound. Resistance is at 13,924. RSI of 69, is overbought.
- DOLLAR INDEX is higher at 79.4. Support is at 78.4.
- Crude oil is lower at USD91.8. Support is at 87.0.
- Dollar yen is lower at 78.3 yen. Support is at 77.6.
- Euro/dollar is lower at 1.297. Resistance is at 1.320.
- Gold is lower at USD1770. Support is at 1684.
- Shanghai closed lower at 2,024.
- Singapore STI closed lower at 3,064.
- Ringgit is weaker at 3.057. Downside is at 3.09.
- S’pore ringgit is higher at 2.501. Upside is at 2.540.
- Malaysian market closed lower at 1625. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 43, is on a buy divergence. Today’s range is between 1622 and 1632.
- CPO Nov futures is lower at RM2781. Support is at 2700.
- Trading : FAVCO ( 7229 : 1.80 ) : Take profit, POHKONG ( 5080 : 0.51 ) : Buy below 0.50
Source:Jupiter Securities Research, 21 September 2012
Wednesday 19 September 2012
Stock Overview - TAKASO - 20 Sept 2012
TAKASO ( 7071 : 0.26 ) : Targeting 0.31/Stop loss 0.23
Description
Resistance : 0.31
Support : 0.23
RSI of 74
RSI is overbought
STOCHASTIC
It is on an upswing
Comment
The recent upward push is targeting 0.31
Trading Strategy
Buy. Stop loss is at 0.23
Source:Jupiter Securities Research, 20 September 2012
Description
Resistance : 0.31
Support : 0.23
RSI of 74
RSI is overbought
STOCHASTIC
It is on an upswing
Comment
The recent upward push is targeting 0.31
Trading Strategy
Buy. Stop loss is at 0.23
Source:Jupiter Securities Research, 20 September 2012
MRCB ( 1651 : 1.66 ) : Targeting 1.82/Stop loss 1.56
Description
Resistance : 1.82
Support : 1.56
RSI of 47
RSI is in a buy divergence
STOCHASTIC
It is on an upswing
Comment
The recent correction has ended at 1.56. It is heading for 1.82
Trading Strategy
Buy. Stop loss is at 1.56
Source:Jupiter Securities Research, 20 September 2012
Description
Resistance : 1.82
Support : 1.56
RSI of 47
RSI is in a buy divergence
STOCHASTIC
It is on an upswing
Comment
The recent correction has ended at 1.56. It is heading for 1.82
Trading Strategy
Buy. Stop loss is at 1.56
Source:Jupiter Securities Research, 20 September 2012
Stock Overview - MINHO - 20 Sept 2012
MINHO ( 5576 : 0.53 ) : Targeting 0.66/Stop loss 0.46
Description
Resistance : 0.66
Support : 0.46
RSI of 66
RSI is on the rise
STOCHASTIC
It is on an upswing
Comment
The current upkick is heading for 0.66
Trading Strategy
Buy. Stop loss is at 0.46
Source:Jupiter Securities Research, 20 September 2012
Description
Resistance : 0.66
Support : 0.46
RSI of 66
RSI is on the rise
STOCHASTIC
It is on an upswing
Comment
The current upkick is heading for 0.66
Trading Strategy
Buy. Stop loss is at 0.46
Source:Jupiter Securities Research, 20 September 2012
Morning Coffee - 20 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Rise Amid Japan Stimulus, American Home Data; as the Bank of Japan increased its asset-purchase target and sales of existing American homes rose more than forecast. The S&P 500 added 0.1 percent to 1,461.05 at 4 p.m. in New York. The Dow advanced 13.32 points, or 0.1 percent, to 13,577.96. About 6.2 billion shares traded hands today, 3.4 percent more than the three-month daily average. The S&P 500 rallied 15 percent from its most-recent low on June 1 through Sept. 14, when it reached its highest level since December 2007. The index is trading at 14.1 times the estimated earnings of its companies, close to the highest price multiple since the end of 2010, data compiled by Bloomberg show.
European Stocks Climb as Japan Opts for Stimulus; after the Bank of Japan joined the Federal Reserve in opting for further asset purchases to support the economy and housing starts climbed in the U.S. Germany’s DAX added 0.6 percent, France’s CAC 40 gained 0.5 percent, and the U.K.’s FTSE 100 rose 0.4 percent.
Oil Trades Near Six-Week Low as Stockpiles Rise Most Since March; after stockpiles rose the most since March in the U.S., the world’s biggest crude user. Oil for October delivery was at $91.78 a barrel, down 20 cents, in electronic trading on the New York Mercantile Exchange at 8:50 a.m. Sydney time. The contract, which expires today, slid $3.31 yesterday to $91.98, the lowest close since Aug. 3. The more-active November future was at $92.11 a barrel, down 19 cents. Frontmonth prices are 7 percent lower this year.
WCT leads race for RM700m job: has emerged as the front runner to secure a RM700 million contract to build a teaching hospital at Universiti Malaysia Sabah (UMS). This year, WCT surprised many when it won a RM331 million project in Sabah that involved, among others, the construction and completion of a nine-storey hospital with 200 beds.
AirAsia Expedia sees online purchase boom; The website offers Malaysian consumers various affordable flight deals and hotel options across the region and beyond with over 400 airlines, 150,000 hotels globally and holiday packages.
Btimes
Astro sets price range for RM4.56b IPO; a pay-TV firm, has set an indicative price range of RM2.70-RM3 per share for institutional investors for its initial public offering (IPO). The IPO, which is expected to be listed by end-September or early October, would be Malaysia’s third-largest this year after share sales by Felda Global Ventures Holdings Bhd in June and IHH Healthcare Bhd in July.
RAM chooses 9 Malaysian companies among Asean’s top 20: The local companies chosen were Axiata Group Bhd, DiGi.Com Bhd,Genting Bhd, IOI Corp Bhd, Kuala Lumpur Kepong Bhd, Maxis Bhd,Petronas Chemicals Group Bhd, Sime Darby Bhd and Tenaga Nasional Bhd. Between 2008 and 2011, the revenue of the 20 featured companies charted a compounded annual growth rate of almost 13% while their mean margin on operating profit before interest and tax clocked in at close to 20%.
StarbIz
Source:Jupiter Securities Research, 20 September 2012
U.S. Stocks Rise Amid Japan Stimulus, American Home Data; as the Bank of Japan increased its asset-purchase target and sales of existing American homes rose more than forecast. The S&P 500 added 0.1 percent to 1,461.05 at 4 p.m. in New York. The Dow advanced 13.32 points, or 0.1 percent, to 13,577.96. About 6.2 billion shares traded hands today, 3.4 percent more than the three-month daily average. The S&P 500 rallied 15 percent from its most-recent low on June 1 through Sept. 14, when it reached its highest level since December 2007. The index is trading at 14.1 times the estimated earnings of its companies, close to the highest price multiple since the end of 2010, data compiled by Bloomberg show.
European Stocks Climb as Japan Opts for Stimulus; after the Bank of Japan joined the Federal Reserve in opting for further asset purchases to support the economy and housing starts climbed in the U.S. Germany’s DAX added 0.6 percent, France’s CAC 40 gained 0.5 percent, and the U.K.’s FTSE 100 rose 0.4 percent.
Oil Trades Near Six-Week Low as Stockpiles Rise Most Since March; after stockpiles rose the most since March in the U.S., the world’s biggest crude user. Oil for October delivery was at $91.78 a barrel, down 20 cents, in electronic trading on the New York Mercantile Exchange at 8:50 a.m. Sydney time. The contract, which expires today, slid $3.31 yesterday to $91.98, the lowest close since Aug. 3. The more-active November future was at $92.11 a barrel, down 19 cents. Frontmonth prices are 7 percent lower this year.
WCT leads race for RM700m job: has emerged as the front runner to secure a RM700 million contract to build a teaching hospital at Universiti Malaysia Sabah (UMS). This year, WCT surprised many when it won a RM331 million project in Sabah that involved, among others, the construction and completion of a nine-storey hospital with 200 beds.
AirAsia Expedia sees online purchase boom; The website offers Malaysian consumers various affordable flight deals and hotel options across the region and beyond with over 400 airlines, 150,000 hotels globally and holiday packages.
Btimes
Astro sets price range for RM4.56b IPO; a pay-TV firm, has set an indicative price range of RM2.70-RM3 per share for institutional investors for its initial public offering (IPO). The IPO, which is expected to be listed by end-September or early October, would be Malaysia’s third-largest this year after share sales by Felda Global Ventures Holdings Bhd in June and IHH Healthcare Bhd in July.
RAM chooses 9 Malaysian companies among Asean’s top 20: The local companies chosen were Axiata Group Bhd, DiGi.Com Bhd,Genting Bhd, IOI Corp Bhd, Kuala Lumpur Kepong Bhd, Maxis Bhd,Petronas Chemicals Group Bhd, Sime Darby Bhd and Tenaga Nasional Bhd. Between 2008 and 2011, the revenue of the 20 featured companies charted a compounded annual growth rate of almost 13% while their mean margin on operating profit before interest and tax clocked in at close to 20%.
StarbIz
Source:Jupiter Securities Research, 20 September 2012
Daily Summary - 20 Sep 2012
YOUR MORNING COFFEE – Thursday 20/9/2012
SUMMARY
Source:Jupiter Securities Research, 20 September 2012
SUMMARY
- Wall St closed 0.1% higher, as BOJ expanded asset purchasing by 10 trillion yen to 80 trillion yen, following in the footstep of the US Fed’s QE3 or quantitative easing.
- Dow of 13,577, is on a technical rebound. Resistance is at 13,924. RSI of 69, is overbought.
- DOLLAR INDEX is lower at 79.1. Support is at 78.4.
- Crude oil is lower at USD92.0. Support is at 87.0.
- Dollar yen is lower at 78.3 yen. Support is at 77.6.
- Euro/dollar is lower at 1.305. Resistance is at 1.320.
- Gold is higher at USD1771. Support is at 1684.
- Shanghai closed higher at 2,067.
- Singapore STI closed higher at 3,081.
- Ringgit is stronger at 3.057. Downside is at 3.09.
- S’pore ringgit is lower at 2.497. Upside is at 2.540.
- Malaysian market closed higher at 1646. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1634. RSI of 56, is on a buy divergence. Today’s range is between 1641 and 1651.
- CPO Nov futures is higher at RM2822. Resistance is at 3100.
- Trading : MRCB ( 1651 : 1.66 ) : Targeting 1.82/Stop loss 1.56, MINHO ( 5576 : 0.515 ) : Targeting 0.66/Stop loss 0.46, TAKASO ( 7071 : 0.26 ) : Targeting 0.31/Stop loss 0.23
Source:Jupiter Securities Research, 20 September 2012
Tuesday 18 September 2012
Morning Coffee - 19 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
Most U.S. Stocks Fall as FedEx Slumps Amid Europe Concern; as FedEx Corp. (FDX) slumped and concern grew that European leaders will struggle to resolve the region’s debt crisis. The S&P 500 slid 0.1 percent to 1,459.32 at 4 p.m. in New York. The Dow Jones Industrial Average rose 11.54 points, or 0.1 percent, to 13,564.64. About five stocks fell for every four advancing on U.S. exchanges today, as 6 billion shares traded hands, in line with the three-month average.
U.K. Stocks Fall Amid Euro-Crisis Concerns, Asia Tension; FTSE 100 Index continuing its retreat from a six-month high, amid renewed concern about Europe’s debt crisis and as tensions between Japan and China escalated. The FTSE 100 (UKX) climbed to the highest level since March last week after the European Central Bank pledged an unlimited bond- buying program to help contain bond yields while and the Federal Reserve announced a third-round of quantitative easing to support economic growth. The FTSE 100 fell 25.36 points, or 0.4 percent, to 5,868.16 at the close in London.
Oil Trades Near Two-Week Low on U.S. Supply Gain, Saudi Action; after an industry report showed rising crude stockpiles in the U.S. and Saudi Arabia was said to be taking action to lower prices. Oil for October delivery was at $95.57 a barrel, up 28 cents, in electronic trading on the New York Mercantile Exchange at 9:23 a.m. Sydney time. The contract slid $1.33 yesterday to $95.29, the lowest close since Aug. 30. Crude dropped 3.8 percent from the settlement on Sept. 14, when prices broached the $100 level, to the end of trading yesterday. Front-month prices are 3.3 percent lower this year. The October contract expires tomorrow. The more-active November future was at $95.89 a barrel, up 27 cents.
CORPORATE NEWS
Bursa, SGX kick off Asean Trading Link; with Malaysia and Singapore becoming the first two connected markets in the 10-nation Asean. With the launch of Asean Trading Link, the crossborder trade between Malaysia and Singapore will be executed by only one broker instead of a broker in each country as in the previous cross-border trading.
Scientex net profit hits record RM83.9m: the performance was helped by several factors. These include increased demand for its products overseas and the benefits of economies of scale following capacity expansion initiatives at its facilities in Pulau Indah in Klang and Malacca. The company's profits in the fourth quarter could have been better if not for a one-off cost in relocating its woven production from Malaysia to Vietnam.
Btimes
CPO tumbles to lowest level since October last year: The
commodity reached a peak of RM3,612.34 in mid-April but crude palm oil (CPO) futures for third month delivery tumbled yesterday to its lowest since October last year.
Sarawak Energy set to start work: Sarawak Energy Bhd will start the construction of its 500-kilovolts backbone transmission system, with an investment of RM3bil soon.
StarbIz
Source:Jupiter Securities Research 19 September 2012
Most U.S. Stocks Fall as FedEx Slumps Amid Europe Concern; as FedEx Corp. (FDX) slumped and concern grew that European leaders will struggle to resolve the region’s debt crisis. The S&P 500 slid 0.1 percent to 1,459.32 at 4 p.m. in New York. The Dow Jones Industrial Average rose 11.54 points, or 0.1 percent, to 13,564.64. About five stocks fell for every four advancing on U.S. exchanges today, as 6 billion shares traded hands, in line with the three-month average.
U.K. Stocks Fall Amid Euro-Crisis Concerns, Asia Tension; FTSE 100 Index continuing its retreat from a six-month high, amid renewed concern about Europe’s debt crisis and as tensions between Japan and China escalated. The FTSE 100 (UKX) climbed to the highest level since March last week after the European Central Bank pledged an unlimited bond- buying program to help contain bond yields while and the Federal Reserve announced a third-round of quantitative easing to support economic growth. The FTSE 100 fell 25.36 points, or 0.4 percent, to 5,868.16 at the close in London.
Oil Trades Near Two-Week Low on U.S. Supply Gain, Saudi Action; after an industry report showed rising crude stockpiles in the U.S. and Saudi Arabia was said to be taking action to lower prices. Oil for October delivery was at $95.57 a barrel, up 28 cents, in electronic trading on the New York Mercantile Exchange at 9:23 a.m. Sydney time. The contract slid $1.33 yesterday to $95.29, the lowest close since Aug. 30. Crude dropped 3.8 percent from the settlement on Sept. 14, when prices broached the $100 level, to the end of trading yesterday. Front-month prices are 3.3 percent lower this year. The October contract expires tomorrow. The more-active November future was at $95.89 a barrel, up 27 cents.
CORPORATE NEWS
Bursa, SGX kick off Asean Trading Link; with Malaysia and Singapore becoming the first two connected markets in the 10-nation Asean. With the launch of Asean Trading Link, the crossborder trade between Malaysia and Singapore will be executed by only one broker instead of a broker in each country as in the previous cross-border trading.
Scientex net profit hits record RM83.9m: the performance was helped by several factors. These include increased demand for its products overseas and the benefits of economies of scale following capacity expansion initiatives at its facilities in Pulau Indah in Klang and Malacca. The company's profits in the fourth quarter could have been better if not for a one-off cost in relocating its woven production from Malaysia to Vietnam.
Btimes
CPO tumbles to lowest level since October last year: The
commodity reached a peak of RM3,612.34 in mid-April but crude palm oil (CPO) futures for third month delivery tumbled yesterday to its lowest since October last year.
Sarawak Energy set to start work: Sarawak Energy Bhd will start the construction of its 500-kilovolts backbone transmission system, with an investment of RM3bil soon.
StarbIz
Source:Jupiter Securities Research 19 September 2012
Stock Overview - BRIGHT - 19 Sept 2012
BRIGHT ( 9938 : 1.47 ) : Targeting 1.62/Stop loss 1.39
Description
Resistance : 1.62 1.72
Support : 1.39
RSI of 52
RSI is rebounding
STOCHASTIC
It is oversold
Comment
The strong upkick yesterday, is retesting the high of 1.63, and likely to target 1.72
Trading Strategy
Buy. Stop loss is at 1.39
Source:Jupiter Securities Research 19 September 2012
Description
Resistance : 1.62 1.72
Support : 1.39
RSI of 52
RSI is rebounding
STOCHASTIC
It is oversold
Comment
The strong upkick yesterday, is retesting the high of 1.63, and likely to target 1.72
Trading Strategy
Buy. Stop loss is at 1.39
Source:Jupiter Securities Research 19 September 2012
Stock Overview - LATEXX - 19 Sep 2012
LATEXX ( 7064 : 1.63 ) : Targeting 1.75/Stop loss 1.54
Description
Resistance : 1.75
Support : 1.54
RSI of 52
RSI is rebounding
STOCHASTIC
It is oversold
Comment
The recent upkick is heading for 1.75
Trading Strategy
Buy. Stop loss is at 1.54
Source:Jupiter Securities Research 19 September 2012
Description
Resistance : 1.75
Support : 1.54
RSI of 52
RSI is rebounding
STOCHASTIC
It is oversold
Comment
The recent upkick is heading for 1.75
Trading Strategy
Buy. Stop loss is at 1.54
Source:Jupiter Securities Research 19 September 2012
Stock Overview - MBFHLDG - 19 Sep 2012
MBFHLDG ( 1236 : 1.19 ) : Take profit
Description
Resistance : 1.28
Support : 1.12
RSI of 64
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 6/9/2012 buy at 1.07, we are recommending to take profit as technicals are approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research 19 September 2012
Description
Resistance : 1.28
Support : 1.12
RSI of 64
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 6/9/2012 buy at 1.07, we are recommending to take profit as technicals are approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research 19 September 2012
Daily Summary - 19 Sep 2012
YOUR MORNING COFFEE – Wednesday 19/9/2012
SUMMARY
SUMMARY
- Wall St closed 0.1% higher, taking a pause after the US Fed’s QE3 or quantitative easing. With not much news, focus was on Apple and US Fed’s QE3, which buoyed the market.
- Dow of 13,564, is on a technical rebound. Resistance is at 13,924. RSI of 68, is overbought.
- DOLLAR INDEX is higher at 79.2. Support is at 78.4.
- Crude oil is lower at USD95.2. Support is at 94.0.
- Dollar yen is higher at 78.7 yen. Resistance is at 79.0.
- Euro/dollar is lower at 1.305. Resistance is at 1.320.
- Gold is higher at USD1768. Support is at 1684.
- Shanghai closed lower at 2,059.
- Singapore STI closed lower at 3,069.
- Ringgit is weaker at 3.066. Downside is at 3.09.
- S’pore ringgit is higher at 2.501. Upside is at 2.540.
- Malaysian market closed lower at 1640. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1634. RSI of 54, is on a buy divergence. Today’s range is between 1636 and 1646.
- CPO Nov futures is lower at RM2803. Resistance is at 3100.
- Trading : MBFHLDG ( 1236 : 1.19 ) : Take profit, BRIGHT ( 9938 : 1.47 ) : Targeting 1.62/Stop loss 1.39, LATEXX ( 7064 : 1.63 ) : Targeting 1.75/Stop loss 1.54
Monday 17 September 2012
Morning Coffee - 18 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Fall on Europe Woes After Last Week’s Rally; as European finance chiefs deadlocked at debt-crisis talks and New York-area manufacturing slumped. The S&P 500 slid 0.3 percent to 1,461.19 at 4 p.m. in New York. The Dow Jones Industrial Average dropped 40.27 points, or 0.3 percent, to 13,553.1.
About 5.7 billion shares traded hands on U.S. exchanges today, 5.4 percent below the three-month average.
European Stocks Slip From 15-Month High; as concern of a deepening economic slowdown in China overshadowed optimism resulting from the Federal Reserve’s third round of quantitative easing. Germany’s DAX slipped 0.1 percent, the U.K.’s FTSE 100 (UKX) declined 0.4 percent, while France’s CAC 40 dropped 0.8 percent.
Oil Trades Near One-Week Low on Forecast Crude Supplies Gained; before a government report that may show stockpiles climbed for a second week in the U.S., the world’s biggest crude consumer. Oil for October delivery was at $96.87
a barrel, up 25 cents, in electronic trading on the New York Mercantile Exchange at 9:29 a.m. Sydney time. The contract slid $2.38 yesterday to $96.62, the lowest close since Sept. 10. Prices are 2 percent lower this year.
CORPORATE NEWS
Ekuinas invests RM78m more in Rancak Selera: Rancak Selera currently owns and operates 32 Burger King outlets in Malaysia. Ekuinas F&B Group, comprising Burger King Malaysia and Singa-pore, Revenue Valley Group, which owns and
operates Manhattan Fish Market, Tony Roma's and Popeyes in Malaysia and Singapore, and San Francisco Coffee, currently already have more than 140 outlets operating in Malaysia, Singapore and Thailand with a combined revenue of more than RM350 million.
Singapore recession risks rise as exports fall: The tradedependent Southeast Asian city-state said yesterday non-oil domestic exports (NODX) fell 10.6 per cent from a year earlier, hurt by a 10.4 per cent drop in electronics and a 28.7 per cent plummet in shipments to the EU, its largest market. On a
seasonally adjusted month-on-month basis, NODX shrank 9.1 per cent after contracting 3.6 per cent in July.
Btimes
Slowdown in car sales: Consumers are postponing car purchases because of several factors including expectations of goodies in the upcoming budget for the auto sector.
Electronics, chip sectors to slow: The semiconductor and electronics industries in the country are expected to register a single-digit drop in sales in the second half of the year compared with the first half, according to the Malaysian American Electronics Industry (MAEI).
StarbIz
Source:Jupiter Securities Research 18 September 2012
U.S. Stocks Fall on Europe Woes After Last Week’s Rally; as European finance chiefs deadlocked at debt-crisis talks and New York-area manufacturing slumped. The S&P 500 slid 0.3 percent to 1,461.19 at 4 p.m. in New York. The Dow Jones Industrial Average dropped 40.27 points, or 0.3 percent, to 13,553.1.
About 5.7 billion shares traded hands on U.S. exchanges today, 5.4 percent below the three-month average.
European Stocks Slip From 15-Month High; as concern of a deepening economic slowdown in China overshadowed optimism resulting from the Federal Reserve’s third round of quantitative easing. Germany’s DAX slipped 0.1 percent, the U.K.’s FTSE 100 (UKX) declined 0.4 percent, while France’s CAC 40 dropped 0.8 percent.
Oil Trades Near One-Week Low on Forecast Crude Supplies Gained; before a government report that may show stockpiles climbed for a second week in the U.S., the world’s biggest crude consumer. Oil for October delivery was at $96.87
a barrel, up 25 cents, in electronic trading on the New York Mercantile Exchange at 9:29 a.m. Sydney time. The contract slid $2.38 yesterday to $96.62, the lowest close since Sept. 10. Prices are 2 percent lower this year.
CORPORATE NEWS
Ekuinas invests RM78m more in Rancak Selera: Rancak Selera currently owns and operates 32 Burger King outlets in Malaysia. Ekuinas F&B Group, comprising Burger King Malaysia and Singa-pore, Revenue Valley Group, which owns and
operates Manhattan Fish Market, Tony Roma's and Popeyes in Malaysia and Singapore, and San Francisco Coffee, currently already have more than 140 outlets operating in Malaysia, Singapore and Thailand with a combined revenue of more than RM350 million.
Singapore recession risks rise as exports fall: The tradedependent Southeast Asian city-state said yesterday non-oil domestic exports (NODX) fell 10.6 per cent from a year earlier, hurt by a 10.4 per cent drop in electronics and a 28.7 per cent plummet in shipments to the EU, its largest market. On a
seasonally adjusted month-on-month basis, NODX shrank 9.1 per cent after contracting 3.6 per cent in July.
Btimes
Slowdown in car sales: Consumers are postponing car purchases because of several factors including expectations of goodies in the upcoming budget for the auto sector.
Electronics, chip sectors to slow: The semiconductor and electronics industries in the country are expected to register a single-digit drop in sales in the second half of the year compared with the first half, according to the Malaysian American Electronics Industry (MAEI).
StarbIz
Source:Jupiter Securities Research 18 September 2012
Stock Overview - TWSCORP - 18 Sept 2012
TWSCORP ( 4804 : 0.87 ) : Take profit
Description
Resistance : 0.89
Support : 0.84
RSI of 72
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 11/9/2012 buy at 0.77, we are recommending to take profit as technicals are approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research 18 September 2012
Description
Resistance : 0.89
Support : 0.84
RSI of 72
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 11/9/2012 buy at 0.77, we are recommending to take profit as technicals are approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research 18 September 2012
Stock Overview - KULIM - 18 Sept 2012
KULIM ( 2003 : 4.89 ) : Targeting 5.25/Stop loss 4.73
Description
Resistance : 5.25
Support : 4.73
RSI of 37
RSI is rebounding
STOCHASTIC
It is recovering
Comment
The current rebound is likely to head for 5.25
Trading Strategy
Buy. Stop loss is at 4.73
Source:Jupiter Securities Research 18 September 2012
Description
Resistance : 5.25
Support : 4.73
RSI of 37
RSI is rebounding
STOCHASTIC
It is recovering
Comment
The current rebound is likely to head for 5.25
Trading Strategy
Buy. Stop loss is at 4.73
Source:Jupiter Securities Research 18 September 2012
Stock Overview - DIALOG - 18 Sept 2012
DIALOG ( 7277 : 2.40 ) : Targeting 2.54/Stop loss 2.32
Description
Resistance : 2.54
Support : 2.32
RSI of 54
RSI is on the rise
STOCHASTIC
It is recovering
Comment
The current rebound is likely to retest the 2.54 high
Trading Strategy
Buy. Stop loss is at 2.32
Source:Jupiter Securities Research 18 September 2012
Description
Resistance : 2.54
Support : 2.32
RSI of 54
RSI is on the rise
STOCHASTIC
It is recovering
Comment
The current rebound is likely to retest the 2.54 high
Trading Strategy
Buy. Stop loss is at 2.32
Source:Jupiter Securities Research 18 September 2012
Thursday 13 September 2012
Morning Coffee - 14 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Rally as Fed Announces Stimulus Measures: sending the Standard & Poor’s 500 Index to its highest level since 2007, as the Federal Reserve said it will buy mortgagebacked securities to bolster the economy. The S&P 500 rallied
1.6 percent to 1,459.99 at 4 p.m. in New York, rising for a third straight day and closing at the highest level since Dec. 31, 2007. The Dow Jones Industrial Averagerose 206.51 points, or 1.6 percent, to 13,539.86. More than 8.1 billion shares traded hands in the U.S. today, the most since June and 35 percent above the three-month average.
The Fed said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month. The FOMC also said it would probably hold the federal funds rate near zero “at least through mid-2015. The central bank will continue its purchases of mortgage-backed securities and undertake other asset purchases if the outlook for the labor market doesn’t improve substantially, the Federal Open Market Committee said today in a statement at the end of its two-day meeting in Washington.
European Stocks Fall From 14 Month-High; as investors awaited a Federal Reserve decision on further stimulus measures. The U.K.’s FTSE 100 advanced 0.7 percent, while Germany’s DAX lost 0.5 percent. France’s CAC 40 slid 1.2 percent.
Oil Trades Near Four-Month High on Stimulus Plan, Middle East: on speculation economic stimulus measures announced by the U.S. will boost fuel demand and concern unrest in the Middle East and North Africa will disrupt supplies. Oil for October delivery was at $98.18 a barrel, down 13 cents, in
electronic trading on the New York Mercantile Exchange at 9:50 a.m. Sydney time. The contract yesterday gained 1.3 percent to $98.31, the highest close since May 4. Prices are 1.8 percent higher this week and down 0.7 percent this year.
CORPORATE NEWS
TH Plantations to issue RM1.5b sukuk with 15-year tenure: Funds raised from the exercise will go towards redeeming TH Plantation's commodity term financing facilities, financing capital expenditure needs and other corporate expenses.TH Plantations saw its net profit drop 39 per cent in the first half of the year due
to lower production and lower selling prices for crude palm oil (CPO), in line with the lower year-on-year results reported by most plantation companies.
Bank Islam plans RM1b sukuk to build war chest: plans to raise RM1 billion through the sale of Islamic bonds as it looks to build a war chest for possible banking acquisitions in the region. A source said proceeds from the subordinated sukuk, which is expected to be issued by the year end, will also be used for
working capital.
Btimes
Malaysia plans to lure storage operators: The FT quoted Malaysia Petroleum Resources Corp (MPRC) executive director Syahrilazli Mahammad as saying Malaysia was embarking on an aggressive plan to attract oilstorage operators by offering zero tax rates as an incentive for companies to build millions of barrels of storage capacity in Johor.
Fed bets big in new push to rescue U.S. economy: The central bank's decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a big escalation in its efforts to drive U.S.
unemployment lower.
StarbIz
Source:Jupiter Securities Research 14 September 2012
U.S. Stocks Rally as Fed Announces Stimulus Measures: sending the Standard & Poor’s 500 Index to its highest level since 2007, as the Federal Reserve said it will buy mortgagebacked securities to bolster the economy. The S&P 500 rallied
1.6 percent to 1,459.99 at 4 p.m. in New York, rising for a third straight day and closing at the highest level since Dec. 31, 2007. The Dow Jones Industrial Averagerose 206.51 points, or 1.6 percent, to 13,539.86. More than 8.1 billion shares traded hands in the U.S. today, the most since June and 35 percent above the three-month average.
The Fed said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month. The FOMC also said it would probably hold the federal funds rate near zero “at least through mid-2015. The central bank will continue its purchases of mortgage-backed securities and undertake other asset purchases if the outlook for the labor market doesn’t improve substantially, the Federal Open Market Committee said today in a statement at the end of its two-day meeting in Washington.
European Stocks Fall From 14 Month-High; as investors awaited a Federal Reserve decision on further stimulus measures. The U.K.’s FTSE 100 advanced 0.7 percent, while Germany’s DAX lost 0.5 percent. France’s CAC 40 slid 1.2 percent.
Oil Trades Near Four-Month High on Stimulus Plan, Middle East: on speculation economic stimulus measures announced by the U.S. will boost fuel demand and concern unrest in the Middle East and North Africa will disrupt supplies. Oil for October delivery was at $98.18 a barrel, down 13 cents, in
electronic trading on the New York Mercantile Exchange at 9:50 a.m. Sydney time. The contract yesterday gained 1.3 percent to $98.31, the highest close since May 4. Prices are 1.8 percent higher this week and down 0.7 percent this year.
CORPORATE NEWS
TH Plantations to issue RM1.5b sukuk with 15-year tenure: Funds raised from the exercise will go towards redeeming TH Plantation's commodity term financing facilities, financing capital expenditure needs and other corporate expenses.TH Plantations saw its net profit drop 39 per cent in the first half of the year due
to lower production and lower selling prices for crude palm oil (CPO), in line with the lower year-on-year results reported by most plantation companies.
Bank Islam plans RM1b sukuk to build war chest: plans to raise RM1 billion through the sale of Islamic bonds as it looks to build a war chest for possible banking acquisitions in the region. A source said proceeds from the subordinated sukuk, which is expected to be issued by the year end, will also be used for
working capital.
Btimes
Malaysia plans to lure storage operators: The FT quoted Malaysia Petroleum Resources Corp (MPRC) executive director Syahrilazli Mahammad as saying Malaysia was embarking on an aggressive plan to attract oilstorage operators by offering zero tax rates as an incentive for companies to build millions of barrels of storage capacity in Johor.
Fed bets big in new push to rescue U.S. economy: The central bank's decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a big escalation in its efforts to drive U.S.
unemployment lower.
StarbIz
Source:Jupiter Securities Research 14 September 2012
Stock Overview - PERDANA - 14 Sep 2012
PERDANA ( 7108 : 0.81 ) : Take profit
Description
Resistance : 0.84
Support : 0.77
RSI of 73
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 5/9/2012 buy at 0.73, we are recommending to take profit as technicals are approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research 14 September 2012
Description
Resistance : 0.84
Support : 0.77
RSI of 73
RSI is overbought
STOCHASTIC
It is overbought
Comment
On the 5/9/2012 buy at 0.73, we are recommending to take profit as technicals are approaching overbought
Trading Strategy
Take profit
Source:Jupiter Securities Research 14 September 2012
Stock Overview - ARMADA - 14 Sep 2012
ARMADA ( 5210 : 3.72 ) : Targeting 3.95/Stop loss 3.62
Description
Resistance : 3.95
Support : 3.62
RSI of 46
RSI is on a positive divergence
STOCHASTIC
It is oversold
Comment
Following the recent sell down, it is due for a technical rebound as technicals are oversold
Trading Strategy
Buy. Stop loss is at 3.62
Source:Jupiter Securities Research 14 September 2012
Description
Resistance : 3.95
Support : 3.62
RSI of 46
RSI is on a positive divergence
STOCHASTIC
It is oversold
Comment
Following the recent sell down, it is due for a technical rebound as technicals are oversold
Trading Strategy
Buy. Stop loss is at 3.62
Source:Jupiter Securities Research 14 September 2012
Stock Overview - AIRASIA - 14 Sep 2012
AIRASIA ( 5099 : 2.93 ) : Targeting 3.18/Stop loss 2.86
Description
Resistance : 3.22
Support : 2.86
RSI of 11
RSI is oversold
STOCHASTIC
It is oversold
Comment
Following the recent sell down, it is due for a technical rebound as technicals are oversold
Trading Strategy
Buy. Stop loss is at 2.86
Source:Jupiter Securities Research 14 September 2012
Description
Resistance : 3.22
Support : 2.86
RSI of 11
RSI is oversold
STOCHASTIC
It is oversold
Comment
Following the recent sell down, it is due for a technical rebound as technicals are oversold
Trading Strategy
Buy. Stop loss is at 2.86
Source:Jupiter Securities Research 14 September 2012
Daily Summary - 14 Sept 2012
YOUR MORNING COFFEE – Friday 14/9/2012
SUMMARY
Source:Jupiter Securities Research 14 September 2012
SUMMARY
- Wall St closed 1.5% higher on US Fed’s QE3 or quantitative easing. US Fed will buy USD40bln mortgage backed bonds each month for however long it deems necessary. Weekly initial jobless claims rose to 382,000.
- Dow of 13,539, is on a technical rebound. Resistance is at 13,924. RSI of 69, is steady.
- DOLLAR INDEX is lower at 79.3. Support is at 79.0.
- Crude oil is higher at USD98.3. Resistance is at 100.0.
- Dollar yen is lower at 77.6 yen. Support is at 77.4.
- Euro/dollar is higher at 1.299. Upside is at 1.300.
- Gold is higher at USD1768. Resistance is at 1790.
- Shanghai closed lower at 2,110.
- Singapore STI closed lower at 3,028.
- Ringgit is firmer at 3.060. Downside is at 3.210.
- S’pore ringgit is lower at 2.496. Upside is at 2.540.
- Malaysian market closed higher at 1628. On the Daily chart, it is targeting 1710 over a longer term. Support is at 1618. RSI of 43, is on a buy divergence. Today’s range is between 1622 and 1636.
- CPO Nov futures is lower at RM2908. Resistance is at 3270.
- Trading : PERDANA ( 7108 : 0.81 ) : Take profit, AIRASIA ( 5099 : 2.93 ) : Targeting 3.18/Stop loss 2.86, ARMADA ( 5210 : 3.72 ) : Targeting 3.95/Stop loss 3.62
Source:Jupiter Securities Research 14 September 2012
Daily Summary - 13 Sept 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Rise Amid German Bailout Ruling, Fed Bets: as a German court cleared the way for Europe’s bailout fund and investors weighed prospects for stimulus measures from the Federal Reserve. The Standard & Poor’s 500 Index added 0.2 percent to 1,436.56 at 4 p.m. in New York, near a four-year high set last week. The Dow Jones Industrial Average rose 9.99 points, or 0.1 percent, to 13,333.35 today. About 6.2 billion changed hands on U.S. exchanges today, 2.5 percent above the three-month average.
European Stocks Rise to 14-Month High After German Ruling: after Germany’s top constitutional court cleared the way for the ratification of the euro area’s permanent bailout fund. France’s CAC 40 advanced 0.2 percent, Germany’s DAX Index (DAX) rallied 0.5 percent, while the U.K.’s FTSE 100 lost 0.2 percent.
Oil Trades Near Two-Day Low as U.S. Stockpiles Unexpectedly Gain: after a government report showed an unexpected increase in stockpiles in the U.S., the world’s biggest crude user. Oil for October delivery was at $96.87 a barrel, down 14 cents, in electronic trading on the New York Mercantile Exchange at 8:52 a.m. Sydney time. The contract yesterday slipped 16 cents to $97.01, the lowest close since Sept. 10. Front-month prices are 2 percent lower this year.
CORPORATE NEWS
KPJ plans to buy Sri Manjung Specialist Centre: via its subsidiary Ipoh Specialist Hospital Sdn Bhd, plans to buy the entire stake in Sri Manjung Specialist Centre Sdn Bhd for RM14.25 million cash.
P&O gets BNM nod for talks with Sanlam: to commence preliminary talks with Sanlam Ltd on the possible divestment of an equity stake in Pacific & Orient Insurance Co Bhd. Sanlam, one of the largest financial services group in South Africa and is listed on the Johannesburg Stock Exchange
Btimes
Resorts World Sentosa penalised for breaching casino law: indirect subsidiary Resorts World Sentosa Pte Ltd (RWS) has been fined $S600,000 (RM1.5mil) by the Singapore Casino Regulatory Authority (CRA) for partially reimbursing the annual entry levy paid by local patrons.
Sarawak plywood prices seen rising: are likely to rise by 5% to 10% in the next three months or so as demand from Japan continues to pick up. Japan, Sarawak's largest plywood market, increased its imports from the state by about 5% to 1.31 million cu m worth RM2.37bil last year, from 1.25 million cu m valued at RM1.87bil in 2010.
StarbIz
Source:Jupiter Security Research 14 September 2012
U.S. Stocks Rise Amid German Bailout Ruling, Fed Bets: as a German court cleared the way for Europe’s bailout fund and investors weighed prospects for stimulus measures from the Federal Reserve. The Standard & Poor’s 500 Index added 0.2 percent to 1,436.56 at 4 p.m. in New York, near a four-year high set last week. The Dow Jones Industrial Average rose 9.99 points, or 0.1 percent, to 13,333.35 today. About 6.2 billion changed hands on U.S. exchanges today, 2.5 percent above the three-month average.
European Stocks Rise to 14-Month High After German Ruling: after Germany’s top constitutional court cleared the way for the ratification of the euro area’s permanent bailout fund. France’s CAC 40 advanced 0.2 percent, Germany’s DAX Index (DAX) rallied 0.5 percent, while the U.K.’s FTSE 100 lost 0.2 percent.
Oil Trades Near Two-Day Low as U.S. Stockpiles Unexpectedly Gain: after a government report showed an unexpected increase in stockpiles in the U.S., the world’s biggest crude user. Oil for October delivery was at $96.87 a barrel, down 14 cents, in electronic trading on the New York Mercantile Exchange at 8:52 a.m. Sydney time. The contract yesterday slipped 16 cents to $97.01, the lowest close since Sept. 10. Front-month prices are 2 percent lower this year.
CORPORATE NEWS
KPJ plans to buy Sri Manjung Specialist Centre: via its subsidiary Ipoh Specialist Hospital Sdn Bhd, plans to buy the entire stake in Sri Manjung Specialist Centre Sdn Bhd for RM14.25 million cash.
P&O gets BNM nod for talks with Sanlam: to commence preliminary talks with Sanlam Ltd on the possible divestment of an equity stake in Pacific & Orient Insurance Co Bhd. Sanlam, one of the largest financial services group in South Africa and is listed on the Johannesburg Stock Exchange
Btimes
Resorts World Sentosa penalised for breaching casino law: indirect subsidiary Resorts World Sentosa Pte Ltd (RWS) has been fined $S600,000 (RM1.5mil) by the Singapore Casino Regulatory Authority (CRA) for partially reimbursing the annual entry levy paid by local patrons.
Sarawak plywood prices seen rising: are likely to rise by 5% to 10% in the next three months or so as demand from Japan continues to pick up. Japan, Sarawak's largest plywood market, increased its imports from the state by about 5% to 1.31 million cu m worth RM2.37bil last year, from 1.25 million cu m valued at RM1.87bil in 2010.
StarbIz
Source:Jupiter Security Research 14 September 2012
Wednesday 12 September 2012
Morning Coffee - 13 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Rise Amid German Bailout Ruling, Fed Bets: as a German court cleared the way for Europe’s bailout fund and investors weighed prospects for stimulus measures from the Federal Reserve. The Standard & Poor’s 500 Index added
0.2 percent to 1,436.56 at 4 p.m. in New York, near a four-year high set last week. The Dow Jones Industrial Average rose 9.99 points, or 0.1 percent, to 13,333.35 today. About 6.2 billion changed hands on U.S. exchanges today, 2.5 percent above the three-month average.
European Stocks Rise to 14-Month High After German Ruling: after Germany’s top constitutional court cleared the way for the ratification of the euro area’s permanent bailout fund. France’s CAC 40 advanced 0.2 percent, Germany’s DAX Index (DAX) rallied 0.5 percent, while the U.K.’s FTSE 100 lost 0.2 percent.
Oil Trades Near Two-Day Low as U.S. Stockpiles Unexpectedly Gain: after a government report showed an unexpected increase in stockpiles in the U.S., the world’s biggest crude user. Oil for October delivery was at $96.87 a
barrel, down 14 cents, in electronic trading on the New York Mercantile Exchange at 8:52 a.m. Sydney time. The contract yesterday slipped 16 cents to $97.01, the lowest close since Sept. 10. Front-month prices are 2 percent lower this year.
CORPORATE NEWS
KPJ plans to buy Sri Manjung Specialist Centre: via its subsidiary Ipoh Specialist Hospital Sdn Bhd, plans to buy the entire stake in Sri Manjung Specialist Centre Sdn Bhd for RM14.25 million cash.
P&O gets BNM nod for talks with Sanlam: to commence preliminary talks with Sanlam Ltd on the possible divestment of an equity stake in Pacific & Orient Insurance Co Bhd. Sanlam, one of the largest financial services group in South Africa and is listed on the Johannesburg Stock Exchange
Btimes
Resorts World Sentosa penalised for breaching casino law: indirect subsidiary Resorts World Sentosa Pte Ltd (RWS) has been fined $S600,000 (RM1.5mil) by the Singapore Casino Regulatory Authority (CRA) for partially reimbursing the annual entry levy paid by local patrons.
Sarawak plywood prices seen rising: are likely to rise by 5% to 10% in the next three months or so as demand from Japan continues to pick up. Japan, Sarawak's largest plywood market, increased its imports from the state by about 5% to 1.31 million cu m worth RM2.37bil last year, from 1.25 million cu m valued
at RM1.87bil in 2010.
StarbIz
Source:Jupiter Securities Research 13 September 2012
U.S. Stocks Rise Amid German Bailout Ruling, Fed Bets: as a German court cleared the way for Europe’s bailout fund and investors weighed prospects for stimulus measures from the Federal Reserve. The Standard & Poor’s 500 Index added
0.2 percent to 1,436.56 at 4 p.m. in New York, near a four-year high set last week. The Dow Jones Industrial Average rose 9.99 points, or 0.1 percent, to 13,333.35 today. About 6.2 billion changed hands on U.S. exchanges today, 2.5 percent above the three-month average.
European Stocks Rise to 14-Month High After German Ruling: after Germany’s top constitutional court cleared the way for the ratification of the euro area’s permanent bailout fund. France’s CAC 40 advanced 0.2 percent, Germany’s DAX Index (DAX) rallied 0.5 percent, while the U.K.’s FTSE 100 lost 0.2 percent.
Oil Trades Near Two-Day Low as U.S. Stockpiles Unexpectedly Gain: after a government report showed an unexpected increase in stockpiles in the U.S., the world’s biggest crude user. Oil for October delivery was at $96.87 a
barrel, down 14 cents, in electronic trading on the New York Mercantile Exchange at 8:52 a.m. Sydney time. The contract yesterday slipped 16 cents to $97.01, the lowest close since Sept. 10. Front-month prices are 2 percent lower this year.
CORPORATE NEWS
KPJ plans to buy Sri Manjung Specialist Centre: via its subsidiary Ipoh Specialist Hospital Sdn Bhd, plans to buy the entire stake in Sri Manjung Specialist Centre Sdn Bhd for RM14.25 million cash.
P&O gets BNM nod for talks with Sanlam: to commence preliminary talks with Sanlam Ltd on the possible divestment of an equity stake in Pacific & Orient Insurance Co Bhd. Sanlam, one of the largest financial services group in South Africa and is listed on the Johannesburg Stock Exchange
Btimes
Resorts World Sentosa penalised for breaching casino law: indirect subsidiary Resorts World Sentosa Pte Ltd (RWS) has been fined $S600,000 (RM1.5mil) by the Singapore Casino Regulatory Authority (CRA) for partially reimbursing the annual entry levy paid by local patrons.
Sarawak plywood prices seen rising: are likely to rise by 5% to 10% in the next three months or so as demand from Japan continues to pick up. Japan, Sarawak's largest plywood market, increased its imports from the state by about 5% to 1.31 million cu m worth RM2.37bil last year, from 1.25 million cu m valued
at RM1.87bil in 2010.
StarbIz
Source:Jupiter Securities Research 13 September 2012
Stock Overview - WTK - 13 Sep 2012
WTK ( 4243 : 1.03 ) : Targeting 1.13/Stop loss 0.99
Description
Resistance : 1.13
Support : 0.99
RSI of 24
RSI is oversold
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has bottomed at 1.00 following the recent sell down. Technicals are oversold
Trading Strategy
Buy. Stop loss is at 0.99
Source:Jupiter Securities Research 13 September 2012
Description
Resistance : 1.13
Support : 0.99
RSI of 24
RSI is oversold
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has bottomed at 1.00 following the recent sell down. Technicals are oversold
Trading Strategy
Buy. Stop loss is at 0.99
Source:Jupiter Securities Research 13 September 2012
Stock Overview - RHBCAP - 13 Sep 2012
RHBCAP ( 1066 : 7.00 ) : Targeting 7.36/Stop loss 6.90
Description
Resistance : 7.36 7.50
Support : 6.90
RSI of 31
RSI is oversold
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has bottomed at 6.90 following the recent sell down. Technicals are oversold
Trading Strategy
Buy. Stop loss is at 6.90
Source:Jupiter Securities Research 13 September 2012
Description
Resistance : 7.36 7.50
Support : 6.90
RSI of 31
RSI is oversold
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has bottomed at 6.90 following the recent sell down. Technicals are oversold
Trading Strategy
Buy. Stop loss is at 6.90
Source:Jupiter Securities Research 13 September 2012
Stock Overview - SCOMI - 13 Sep 2012
SCOMI ( 7158 : 0.33 ) : Targeting 0.41/Stop loss 0.31
Description
Resistance : 0.41
Support : 0.31
RSI of 69
RSI is up
STOCHASTIC
It is on an upswing
Comment
The current upmove is heading for 0.41
Trading Strategy
Buy. Stop loss is at 0.31
Source:Jupiter Securities Research 13 September 2012
Description
Resistance : 0.41
Support : 0.31
RSI of 69
RSI is up
STOCHASTIC
It is on an upswing
Comment
The current upmove is heading for 0.41
Trading Strategy
Buy. Stop loss is at 0.31
Source:Jupiter Securities Research 13 September 2012
Daily Summary - 13 Sep 2012
YOUR MORNING COFFEE – Thursday 13/9/2012
SUMMARY
Source:Jupiter Securities Research 13 September 2012
SUMMARY
- Wall St closed 0.1% higher ahead of US FOMC Thursday, which may announce QE3 or quantitative easing. The German Constitutional court ruled the legality of the bailout fund ESM, thus preserving the euro. Dow of 13,333, is on a technical rebound. Resistance is at 13,470. RSI of 61, is steady.
- DOLLAR INDEX is lower at 79.7. Support is at 79.4.
- Crude oil is lower at USD97.0. Resistance is at 100.0.
- Dollar yen is lower at 77.8 yen. Support is at 77.4.
- Euro/dollar is higher at 1.291. Upside is at 1.300.
- Gold is higher at USD1733. Resistance is at 1790.
- Shanghai closed higher at 2,126.
- Singapore STI closed higher at 3,031.
- Ringgit is firmer at 3.077. Downside is at 3.210.
- S’pore ringgit is higher at 2.505. Upside is at 2.540.
- Malaysian market closed lower at 1613. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1612. RSI of 33, is oversold. Today’s range is between 1609 and 1622.
- CPO Nov futures is higher at RM2922. Resistance is at 3270.
- Trading : RHBCAP ( 1066 : 7.00 ) : Targeting 7.36/Stop loss 6.90, WTK ( 4243 : 1.03 ) : Targeting 1.13/Stop loss 0.99, SCOMI ( 7158 : 0.33 ) : Targeting 0.41/Stop loss 0.31
Source:Jupiter Securities Research 13 September 2012
Tuesday 11 September 2012
Morning Coffee - 12 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Advance Amid Speculation Over Fed Decision: amid speculation the Federal Reserve will act to stimulate the economy. The S&P 500 added 0.3 percent to 1,433.56 at 4 p.m. in New York. The Dow Jones Industrial Average gained 69.07 points, or 0.5 percent, to 13,323.36 today. Volume for exchangelisted stocks in the U.S. was 5.9 billion shares, or almost in line with the three-month average.
European Stocks Advance on German Court, Fed Speculation: Germany’s top constitutional court said it will proceed with a ruling on the country’s role in the euro-area bailout fund and speculation grew that the Federal Reserve will boost stimulus. France’s CAC 40 advanced 0.9 percent and Germany’s DAX Index rallied 1.3 percent. The U.K.’s FTSE 100 was little changed.
Oil Declines From Three-Week High as U.S. Crude Stockpiles Climb: after an industry report showed stockpiles climbed in the U.S., the world’s biggest crude user. Oil for October delivery decreased as much as 46 cents to $96.71 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.78 at 9:16 a.m. Sydney time. The contract yesterday rose 0.7 percent to $97.17, the highest close since Aug. 22. Prices are 2.1 percent lower this year
Source:Jupiter Securities Research 12 September 2012.
CORPORATE NEWS
Malindo Airways to take off in May 2013: National Aerospace and Defence Industries Sdn Bhd (Nadi) and Lion Air's owner PT Lion Grup will form Malindo Airways that could rival AirAsia Bhd and subsequently spark a price war. Malindo Airways is poised to start in May 2013 using the soon-to-completed KLIA2 at KL International Airport in Sepang as its hub.
AirAsia to be first operator of A320neo: In 2011, AirAsia placed an order for 200 A320neo planes, which European manufacturer Airbus says will use 15 per cent less fuel than its current top A320 model
Btimes
Glenealy shareholders will get special dividend of 52.75 sen: a special dividend of 52.75 sen per share as a sweetener to Samling Global Ltd's offer to privatise the company. The shares were suspended from 9am to 5pm yesterday, pending the announcement of the proposed dividend.
Media Prima fully redeems MTN: RAM Rating Services Bhd said it had received confirmation from the facility agent that Media Prima had fully redeemed its MTN and as such, the rating agency no longer has any rating obligation on the debt
facility, which had carried a long-term AAA(bg) rating, with a stable outlook.
StarbIz
Source:Jupiter Securities Research 12 September 2012
U.S. Stocks Advance Amid Speculation Over Fed Decision: amid speculation the Federal Reserve will act to stimulate the economy. The S&P 500 added 0.3 percent to 1,433.56 at 4 p.m. in New York. The Dow Jones Industrial Average gained 69.07 points, or 0.5 percent, to 13,323.36 today. Volume for exchangelisted stocks in the U.S. was 5.9 billion shares, or almost in line with the three-month average.
European Stocks Advance on German Court, Fed Speculation: Germany’s top constitutional court said it will proceed with a ruling on the country’s role in the euro-area bailout fund and speculation grew that the Federal Reserve will boost stimulus. France’s CAC 40 advanced 0.9 percent and Germany’s DAX Index rallied 1.3 percent. The U.K.’s FTSE 100 was little changed.
Oil Declines From Three-Week High as U.S. Crude Stockpiles Climb: after an industry report showed stockpiles climbed in the U.S., the world’s biggest crude user. Oil for October delivery decreased as much as 46 cents to $96.71 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.78 at 9:16 a.m. Sydney time. The contract yesterday rose 0.7 percent to $97.17, the highest close since Aug. 22. Prices are 2.1 percent lower this year
Source:Jupiter Securities Research 12 September 2012.
CORPORATE NEWS
Malindo Airways to take off in May 2013: National Aerospace and Defence Industries Sdn Bhd (Nadi) and Lion Air's owner PT Lion Grup will form Malindo Airways that could rival AirAsia Bhd and subsequently spark a price war. Malindo Airways is poised to start in May 2013 using the soon-to-completed KLIA2 at KL International Airport in Sepang as its hub.
AirAsia to be first operator of A320neo: In 2011, AirAsia placed an order for 200 A320neo planes, which European manufacturer Airbus says will use 15 per cent less fuel than its current top A320 model
Btimes
Glenealy shareholders will get special dividend of 52.75 sen: a special dividend of 52.75 sen per share as a sweetener to Samling Global Ltd's offer to privatise the company. The shares were suspended from 9am to 5pm yesterday, pending the announcement of the proposed dividend.
Media Prima fully redeems MTN: RAM Rating Services Bhd said it had received confirmation from the facility agent that Media Prima had fully redeemed its MTN and as such, the rating agency no longer has any rating obligation on the debt
facility, which had carried a long-term AAA(bg) rating, with a stable outlook.
StarbIz
Source:Jupiter Securities Research 12 September 2012
Stock Overview - FITTERS - 12 Sep 2012
FITTERS ( 9318 : 0.695 ) : Targeting 0.76/Stop loss 0.68
Description
Resistance : 0.76
Support : 0.68
RSI of 32
RSI is oversold
STOCHASTIC
It is oversold, and due for a rebound
Comment
The downside is limited following the recent sell down. Technicals are oversold
Trading Strategy
Buy. Stop loss is at 0.68
Source:Jupiter Securities Research 12 September 2012
Description
Resistance : 0.76
Support : 0.68
RSI of 32
RSI is oversold
STOCHASTIC
It is oversold, and due for a rebound
Comment
The downside is limited following the recent sell down. Technicals are oversold
Trading Strategy
Buy. Stop loss is at 0.68
Source:Jupiter Securities Research 12 September 2012
Stock Overview - INCKEN - 12 Sept 2012
INCKEN ( 2607 : 0615 ) : Targeting 0.68/Stop loss 0.595
Description
Resistance : 0.68
Support : 0.595
RSI of 62
RSI is on the rise
STOCHASTIC
It is on an upswing
Comment
Following the consolidation breakout, it is heading for 0.68
Trading Strategy
Buy. Stop loss is at 0.595
Source:Jupiter Securities Research 12 September 2012
Description
Resistance : 0.68
Support : 0.595
RSI of 62
RSI is on the rise
STOCHASTIC
It is on an upswing
Comment
Following the consolidation breakout, it is heading for 0.68
Trading Strategy
Buy. Stop loss is at 0.595
Source:Jupiter Securities Research 12 September 2012
Stock Overview - PERWAJA - 12 Sep 2012
PERWAJA ( 5146 : 0.595 ) : Targeting 0.66/Stop loss 0.575
Description
Resistance : 0.66
Support : 0.58
RSI of 41
RSI is on a positive buy divergence
STOCHASTIC
It is oversold, and due for a rebound
Comment
The downside is limited following the recent sell down. Technicals are in a positive divergence
Trading Strategy
Buy. Stop loss is at 0.575
Source:Jupiter Securities Research 12 September 2012
Description
Resistance : 0.66
Support : 0.58
RSI of 41
RSI is on a positive buy divergence
STOCHASTIC
It is oversold, and due for a rebound
Comment
The downside is limited following the recent sell down. Technicals are in a positive divergence
Trading Strategy
Buy. Stop loss is at 0.575
Source:Jupiter Securities Research 12 September 2012
Daily Summary - 12 Sept 2012
YOUR MORNING COFFEE – Wednesday 12/9/2012
SUMMARY
Source:Jupiter Securities Research 12 September 2012
SUMMARY
- Wall St closed 0.5% higher ahead of a decision by the German Constitutional court Wednesday which could impact on the ECB’s plans to preserve the euro. Then there is the bet on QE3 or quantitative easing move by US Fed Thursday. US trade deficit of USD42bln in July.
- Dow of 13,323, is on a technical rebound. Resistance is at 13,470. RSI of 61, is steady.
- DOLLAR INDEX is lower at 79.9. Support is at 79.4.
- Crude oil is higher at USD97.1. Resistance is at 100.0.
- Dollar yen is lower at 77.8 yen. Support is at 77.4.
- Euro/dollar is higher at 1.285. Upside is at 1.300.
- Gold is higher at USD1733. Resistance is at 1790.
- Shanghai closed lower at 2,120.
- Singapore STI closed higher at 3,016.
- Ringgit is firmer at 3.085. Downside is at 3.210.
- S’pore ringgit is higher at 2.508. Upside is at 2.540.
- Malaysian market closed lower at 1614. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1612. RSI of 33, is oversold. Today’s range is between 1609 and 1622.
- CPO Nov futures is lower at RM2899. Resistance is at 3270.
- Trading : FITTERS ( 9318 : 0.695 ) : Targeting 0.76/Stop loss 0.68, PERWAJA ( 5146 : 0.595 ) : Targeting 0.66/Stop loss 0.575, INCKEN ( 2607 : 0615 ) : Targeting 0.68/Stop loss 0.595
Source:Jupiter Securities Research 12 September 2012
Monday 10 September 2012
Morning Coffee - 11 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Retreat as Greece Overshadows Stimulus Bets: as concern over Greece’s debt crisis overshadowed speculation central banks will take action to spur the economy. The S&P 500 fell 0.6 percent to 1,429.08 at 4 p.m. in New York. The Dow Jones Industrial Average slid 52.35 points, or 0.4 percent, to 13,254.29. The Nasdaq Composite Index lost 1 percent to 3,104.02. About 5.6 billion shares traded hands on U.S. exchanges, 7.3 percent below the three-month average, while the Chicago Board Options Exchange Volatility Index, known as the VIX, rose 13 percent, the biggest jump in seven weeks, to 16.28.
European Stocks Drop on China Import Decline, Greek Aid: as China’s imports unexpectedly dropped, and Greece struggled to qualify for aid payments. The U.K.’s FTSE 100 and Germany’s DAX slipped less than 0.1 percent. France’s CAC 40 lost 0.4 percent.
Oil Drops From Three-Week High on U.S. Fed Meeting, Saudi Arabia: as investors waited to see if U.S. policy makers will add stimulus to the economy and Saudi Arabia said rising prices are unjustified. Crude for October delivery decreased as much as 34 cents to $96.20 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.28 at 9:42 a.m. Sydney time. The contract yesterday rose 12 cents to $96.54, the highest close since Aug. 22. Prices are 2.6 percent lower this year.
CORPORATE NEWS
Palm oil prices likely to hit RM3,200 by year-end: PALM oil prices are likely to climb back to RM3,200 a tonne by year-end, said Jupiter Securities chief market strategist Benny Lee Wan Yu. Lee was speaking on the sidelines of the International Palm Oil Sustainability Conference 2012 held here yesterday.
Pintaras unit wins RM21.55m condo job: unit Pintaras Geotecnics Sdn Bhd has won a contract worth RM21.55 million from Sime Darby Melawati Development Sdn Bhd to undertake piling and pile cap works for a condominium project in Desa Melawati, Setapak.
Btimes
LBS unit to buy 18% of Casa Inspirasi: has entered a deal to acquire an 18% stake, or 49,500 shares, in property development company Casa Inspirasi Sdn Bhd (CISB) for a total cash consideration of RM10mil.
ECS ICT proposes 1-for-2 bonus issue: the issue entailed the issuance of 60 million new ordinary shares of 50 sen par and was targeted for completion by the fourth quarter of 2012. This would result in the group's share capital increasing from RM60mil, comprising 120 million shares of 50 sen par, to RM90mil, comprising 180 million shares of 50 sen par.
StarbIz
Source:Jupiter Securities Research 11 September 2012
U.S. Stocks Retreat as Greece Overshadows Stimulus Bets: as concern over Greece’s debt crisis overshadowed speculation central banks will take action to spur the economy. The S&P 500 fell 0.6 percent to 1,429.08 at 4 p.m. in New York. The Dow Jones Industrial Average slid 52.35 points, or 0.4 percent, to 13,254.29. The Nasdaq Composite Index lost 1 percent to 3,104.02. About 5.6 billion shares traded hands on U.S. exchanges, 7.3 percent below the three-month average, while the Chicago Board Options Exchange Volatility Index, known as the VIX, rose 13 percent, the biggest jump in seven weeks, to 16.28.
European Stocks Drop on China Import Decline, Greek Aid: as China’s imports unexpectedly dropped, and Greece struggled to qualify for aid payments. The U.K.’s FTSE 100 and Germany’s DAX slipped less than 0.1 percent. France’s CAC 40 lost 0.4 percent.
Oil Drops From Three-Week High on U.S. Fed Meeting, Saudi Arabia: as investors waited to see if U.S. policy makers will add stimulus to the economy and Saudi Arabia said rising prices are unjustified. Crude for October delivery decreased as much as 34 cents to $96.20 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.28 at 9:42 a.m. Sydney time. The contract yesterday rose 12 cents to $96.54, the highest close since Aug. 22. Prices are 2.6 percent lower this year.
CORPORATE NEWS
Palm oil prices likely to hit RM3,200 by year-end: PALM oil prices are likely to climb back to RM3,200 a tonne by year-end, said Jupiter Securities chief market strategist Benny Lee Wan Yu. Lee was speaking on the sidelines of the International Palm Oil Sustainability Conference 2012 held here yesterday.
Pintaras unit wins RM21.55m condo job: unit Pintaras Geotecnics Sdn Bhd has won a contract worth RM21.55 million from Sime Darby Melawati Development Sdn Bhd to undertake piling and pile cap works for a condominium project in Desa Melawati, Setapak.
Btimes
LBS unit to buy 18% of Casa Inspirasi: has entered a deal to acquire an 18% stake, or 49,500 shares, in property development company Casa Inspirasi Sdn Bhd (CISB) for a total cash consideration of RM10mil.
ECS ICT proposes 1-for-2 bonus issue: the issue entailed the issuance of 60 million new ordinary shares of 50 sen par and was targeted for completion by the fourth quarter of 2012. This would result in the group's share capital increasing from RM60mil, comprising 120 million shares of 50 sen par, to RM90mil, comprising 180 million shares of 50 sen par.
StarbIz
Source:Jupiter Securities Research 11 September 2012
Stock Overview - TWSCORP - 11 Sep 2012
TWSCORP ( 4804 : 0.77 ) : Targeting 0.89/Stop loss 0.74
Description
Resistance : 0.85 0.89
Support : 0.74
RSI of 54
RSI is rising
STOCHASTIC
It is on an upswing
Comment
The current rise from the lower boundary, is heading for 0.89
Trading Strategy
Buy. Stop loss is at 0.74
Source:Jupiter Securities Research 11 September 2012
Description
Resistance : 0.85 0.89
Support : 0.74
RSI of 54
RSI is rising
STOCHASTIC
It is on an upswing
Comment
The current rise from the lower boundary, is heading for 0.89
Trading Strategy
Buy. Stop loss is at 0.74
Source:Jupiter Securities Research 11 September 2012
Stock Overview - ITRONIC - 11 Sep 2012
ITRONIC ( 9393 : 0.74 ) : Targeting 0.85/Stop loss 0.715
Description
Resistance : 0.85
Support : 0.715
RSI of 64
RSI is rising
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has completed its correction at 0.695, and is heading for 0.85
Trading Strategy
Buy. Stop loss is at 0.715
Source:Jupiter Securities Research 11 September 2012
Description
Resistance : 0.85
Support : 0.715
RSI of 64
RSI is rising
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has completed its correction at 0.695, and is heading for 0.85
Trading Strategy
Buy. Stop loss is at 0.715
Source:Jupiter Securities Research 11 September 2012
Stock Overview - MISC - 11 Sep 2012
MISC ( 3816 : 4.20 ) : Targeting 4.50/Stop loss 4.00
Description
Resistance : 4.50
Support : 4.00
RSI of 38
RSI is on a base forming
STOCHASTIC
It is oversold, and turning upwards
Comment
With oversold technicals, the downside is limited
Trading Strategy
Buy. Stop loss is at 4.00
Source:Jupiter Securities Research 11 September 2012
Description
Resistance : 4.50
Support : 4.00
RSI of 38
RSI is on a base forming
STOCHASTIC
It is oversold, and turning upwards
Comment
With oversold technicals, the downside is limited
Trading Strategy
Buy. Stop loss is at 4.00
Source:Jupiter Securities Research 11 September 2012
Daily Summary - 11 Sep 2012
YOUR MORNING COFFEE – Tuesday 11/9/2012
SUMMARY
Source:Jupiter Securities Research 11 September 2012
SUMMARY
- Wall St closed 0.4% lower ahead of a decision by the German Constitutional court Wednesday which could impact on the ECB’s plans to preserve the euro. Then there is the bet on QE3 or quantitative easing move by US Fed Thursday.
- Dow of 13,254, is on a technical rebound. Resistance is at 13,338. RSI of 58, is steady.
- DOLLAR INDEX is higher at 80.4. Support is at 79.9.
- Crude oil is higher at USD96.5. Resistance is at 100.0.
- Dollar yen is lower at 78.2 yen. Support is at 77.4.
- Euro/dollar is higher at 1.277. Upside is at 1.300.
- Gold is lower at USD1728. Resistance is at 1790.
- Shanghai closed higher at 2,134.
- Singapore STI closed higher at 3,012.
- Ringgit is weaker at 3.106. Downside is at 3.210.
- S’pore ringgit is higher at 2.510. Upside is at 2.540.
- Malaysian market closed lower at 1621. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1612. RSI of 35, is up. Today’s range is between 1618 and 1630.
- CPO Nov futures is higher at RM2927. Resistance is at 3270.
- Trading : ITRONIC ( 9393 : 0.74 ) : Targeting 0.85/Stop loss 0.715, TWSCORP ( 4804 : 0.77 ) : Targeting 0.89/Stop loss 0.74, MISC ( 3816 : 4.20 ) : Targeting 4.50/Stop loss 4.00
Source:Jupiter Securities Research 11 September 2012
Sunday 9 September 2012
Stock Overview - IJMLAND - 10 Sept 2012
IJMLAND ( 5215 : 2.31 ) : Targeting 2.54/Stop loss 2.22
Description
Resistance : 2.54
Support : 2.22
RSI of 37
RSI is neutral
STOCHASTIC
It is oversold, and due for a rebound
Comment
Following the recent sell down, the downside is limited
Trading Strategy
Buy. Stop loss is at 2.22
Source:Jupiter Securities Research 10 September 2012
Description
Resistance : 2.54
Support : 2.22
RSI of 37
RSI is neutral
STOCHASTIC
It is oversold, and due for a rebound
Comment
Following the recent sell down, the downside is limited
Trading Strategy
Buy. Stop loss is at 2.22
Source:Jupiter Securities Research 10 September 2012
Stock Overview - MPHB- 10 Sept 2012
MPHB ( 3859 : 3.64 ) : Targeting 3.82/Stop loss 3.52
Description
Resistance : 3.82
Support : 3.58
RSI of 47
RSI is neutral
STOCHASTIC
It is oversold, and due for a rebound
Comment
Following the recent sell down, it is due for a technical rebound
Trading Strategy
Buy. Stop loss is at 3.52
Source:Jupiter Securities Research 10 September 2012
Description
Resistance : 3.82
Support : 3.58
RSI of 47
RSI is neutral
STOCHASTIC
It is oversold, and due for a rebound
Comment
Following the recent sell down, it is due for a technical rebound
Trading Strategy
Buy. Stop loss is at 3.52
Source:Jupiter Securities Research 10 September 2012
Stock Overview - MYEG - 10 Sept 2012
MYEG ( 0138 : 0.78 ) : Targeting 0.86/Stop loss 0.75
Description
Resistance : 0.86 0.96
Support : 0.75
RSI of 54
RSI is neutral
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has bottomed out at 0.74, on the positive Island reversal chart pattern
Trading Strategy
Buy. Stop loss is at 0.75
Source:Jupiter Securities Research 10 September 2012
Description
Resistance : 0.86 0.96
Support : 0.75
RSI of 54
RSI is neutral
STOCHASTIC
It is oversold, and due for a rebound
Comment
It has bottomed out at 0.74, on the positive Island reversal chart pattern
Trading Strategy
Buy. Stop loss is at 0.75
Source:Jupiter Securities Research 10 September 2012
Daily Summary - 10 Sept 2012
YOUR MORNING COFFEE – Monday 10/9/2012
SUMMARY
Source:Jupiter Securities Research 10 September 2012
SUMMARY
- Wall St closed 0.1% higher, on heightened bet of QE3 or quantitative easing move by US Fed this week, following the poor jobs data. In August, there were only 96,000 jobs added, against expectation of 120,000. Unemployment dipped to 8.1%.
- Dow of 13,306, is on a technical rebound. Resistance is at 13,338. RSI
- of 61, is steady.
- DOLLAR INDEX is lower at 80.1. Support is at 79.9.
- Crude oil is higher at USD96.4. Resistance is at 100.0.
- Dollar yen is lower at 78.2 yen. Support is at 77.4.
- Euro/dollar is higher at 1.279. Upside is at 1.300.
- Gold is higher at USD1734. Resistance is at 1790.
- Shanghai closed higher at 2,127.
- Singapore STI closed higher at 3,015.
- Ringgit is firmer at 3.104. Downside is at 3.210.
- S’pore ringgit is higher at 2.510. Upside is at 2.540.
- Malaysian market closed higher at 1624. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1612. RSI of 36, is up. Today’s range is between 1618 and 1630.
- CPO Nov futures is lower at RM2903. Resistance is at 3270.
- Trading : MPHB ( 3859 : 3.64 ) : Targeting 3.82/Stop loss 3.52, MYEG ( 0138 : 0.78 ) : Targeting 0.86/Stop loss 0.75, IJMLAND ( 5215 : 2.31 ) : Targeting 2.54/Stop loss 2.22
Source:Jupiter Securities Research 10 September 2012
Friday 7 September 2012
Morning Coffee - 7 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
S&P 500 Climbs to Four-Year High as ECB Details Bond Plan: as the European Central Bank announced specifics of its bond-buying plan and data boosted optimism in the American economy. The S&P 500 climbed 2 percent, the most since June, to 1,432.12 at 4 p.m. in New York.The Dow added 244.52 points, or 1.9 percent, to 13,292, its highest level since December 2007. The Nasdaq-100 Index (NDX) climbed 2.3 percent to almost a 12-year peak. More than five shares rose for each that declined on U.S. exchanges, with volume at 7.1 billion shares, or 18 percent above the three-month average.
European Stocks Gain as ECB Agrees on Bond-Purchase Plan: after European Central Bank President Mario Draghi said policy makers agreed to an unlimited bond-purchase program as they try to regain control of interest rates in the euro area. Germany’s DAX rallied 2.9 percent and the U.K.’s FTSE 100 gained 2.1 percent. France’s CAC 40 jumped 3.1 percent.
Oil Drops From One-Week High in New York Before U.S. Jobs Report: as investors speculated prices may have risen too far before a report forecast to show jobs growth slowed last month in the U.S., the world’s biggest crude consumer. Oil for October delivery declined as much as 98 cents to $94.55 a barrel in electronic trading on the New York Mercantile Exchange and was at $94.87 at 9:55 a.m. Sydney time. The contract climbed 17 cents yesterday to $95.53, the highest
close since Aug. 31. Front-month prices are down 1.7 percent this week and 4 percent this year.
CORPORATE NEWS
DRB-HICOM will not exit Bank Muamalat: DRB-HICOM Bhd has no intention of divesting its entire 70 per cent stake in Bank Muamalat Malaysia Bhd as it still wants to be involved in the financial services industry. Khazanah owns the other 30 per cent stake in Bank Muamalat.
Malaysia debt still at manageable level: As at the end of last year, the percentage of public debt to GDP ratio is 51.8 per cent. Although there is a self-imposed cap at 55 per cent, the government is careful in ensuring that the ratio will not exceed that level. Standard and Poor's Rating Services, in a report on Wednesday, said Malaysia's public debt is on the high side for an A-rated sovereign and it expected it to rise to 53.9 per cent by the end of 2012. Unlike the high debt levels of advanced economies like the US, coupled with high unemployment and slow growth rates, Malaysia still continues to enjoy strong growth, low inflation level, healthy foreign reserves as well high foreign direct investment (FDI) interest.
Btimes
MAS want to renegotiate catering terms: seeking to renegotiate the terms of the catering agreement with Brahim’s-LSG Sky Chefs Holdings Sdn Bhd (BLH), a subsidiary of Brahim’s Holdings Bhd. Brahim’s said the renegotiation of the
terms might affect its proposed acquisition of a 49% stake in BLH for RM130mil cash.
Huawei unveils latest smartphone Ascend P1: also announced the expansion of Huawei's device business under a new distribution partnership with ECS ICT Bhd via its whollyowned subsidiary, ECS Astar Sdn Bhd, which would open up access to over 3,000 resellers nationwide.
StarbIz
Source:Jupiter Securities Reasearch 07 September 2012
S&P 500 Climbs to Four-Year High as ECB Details Bond Plan: as the European Central Bank announced specifics of its bond-buying plan and data boosted optimism in the American economy. The S&P 500 climbed 2 percent, the most since June, to 1,432.12 at 4 p.m. in New York.The Dow added 244.52 points, or 1.9 percent, to 13,292, its highest level since December 2007. The Nasdaq-100 Index (NDX) climbed 2.3 percent to almost a 12-year peak. More than five shares rose for each that declined on U.S. exchanges, with volume at 7.1 billion shares, or 18 percent above the three-month average.
European Stocks Gain as ECB Agrees on Bond-Purchase Plan: after European Central Bank President Mario Draghi said policy makers agreed to an unlimited bond-purchase program as they try to regain control of interest rates in the euro area. Germany’s DAX rallied 2.9 percent and the U.K.’s FTSE 100 gained 2.1 percent. France’s CAC 40 jumped 3.1 percent.
Oil Drops From One-Week High in New York Before U.S. Jobs Report: as investors speculated prices may have risen too far before a report forecast to show jobs growth slowed last month in the U.S., the world’s biggest crude consumer. Oil for October delivery declined as much as 98 cents to $94.55 a barrel in electronic trading on the New York Mercantile Exchange and was at $94.87 at 9:55 a.m. Sydney time. The contract climbed 17 cents yesterday to $95.53, the highest
close since Aug. 31. Front-month prices are down 1.7 percent this week and 4 percent this year.
CORPORATE NEWS
DRB-HICOM will not exit Bank Muamalat: DRB-HICOM Bhd has no intention of divesting its entire 70 per cent stake in Bank Muamalat Malaysia Bhd as it still wants to be involved in the financial services industry. Khazanah owns the other 30 per cent stake in Bank Muamalat.
Malaysia debt still at manageable level: As at the end of last year, the percentage of public debt to GDP ratio is 51.8 per cent. Although there is a self-imposed cap at 55 per cent, the government is careful in ensuring that the ratio will not exceed that level. Standard and Poor's Rating Services, in a report on Wednesday, said Malaysia's public debt is on the high side for an A-rated sovereign and it expected it to rise to 53.9 per cent by the end of 2012. Unlike the high debt levels of advanced economies like the US, coupled with high unemployment and slow growth rates, Malaysia still continues to enjoy strong growth, low inflation level, healthy foreign reserves as well high foreign direct investment (FDI) interest.
Btimes
MAS want to renegotiate catering terms: seeking to renegotiate the terms of the catering agreement with Brahim’s-LSG Sky Chefs Holdings Sdn Bhd (BLH), a subsidiary of Brahim’s Holdings Bhd. Brahim’s said the renegotiation of the
terms might affect its proposed acquisition of a 49% stake in BLH for RM130mil cash.
Huawei unveils latest smartphone Ascend P1: also announced the expansion of Huawei's device business under a new distribution partnership with ECS ICT Bhd via its whollyowned subsidiary, ECS Astar Sdn Bhd, which would open up access to over 3,000 resellers nationwide.
StarbIz
Source:Jupiter Securities Reasearch 07 September 2012
Stock Overview - GAMUDA - 7 Sep 2012
GAMUDA ( 5398 : 3.41 ) : Targeting 3.80/Stop loss 3.30
Description
Resistance : 3.60 3.80
Support : 3.30
RSI of 38
RSI is on a support
STOCHASTIC
It is oversold
Comment
With oversold technicals, it is due for a technical rebound
Trading Strategy
Buy. Stop loss is at 3.30
Source:Jupiter Securities Reasearch 07 September 2012
Description
Resistance : 3.60 3.80
Support : 3.30
RSI of 38
RSI is on a support
STOCHASTIC
It is oversold
Comment
With oversold technicals, it is due for a technical rebound
Trading Strategy
Buy. Stop loss is at 3.30
Source:Jupiter Securities Reasearch 07 September 2012
Stock Overview - GENM - 7 Sep 2012
GENM ( 4715 : 3.52 ) : Take profit
Description
Resistance : 3.60
Support : 3.40
RSI of 55
RSI is neutral
STOCHASTIC
It is overbought, and turning downwards
Comment
On the buy call of 10/8/2012 at 3.30, we are recommending to take profit at 3.53, as technicals are approaching overbought indicating a pullback
Trading Strategy
Take profit
Source:Jupiter Securities Reasearch 07 September 2012
Description
Resistance : 3.60
Support : 3.40
RSI of 55
RSI is neutral
STOCHASTIC
It is overbought, and turning downwards
Comment
On the buy call of 10/8/2012 at 3.30, we are recommending to take profit at 3.53, as technicals are approaching overbought indicating a pullback
Trading Strategy
Take profit
Source:Jupiter Securities Reasearch 07 September 2012
Stock Overview - KNM - 7 Sep 2012
KNM ( 7164 : 0.655 ) : Targeting 0.72/Stop loss 0.63
Description
Resistance : 0.72
Support : 0.63
RSI of 49
RSI is neutral
STOCHASTIC
It is oversold
Comment
The rebound off the low of 0.625 yesterday, is likely to head higher due to oversold technicals
Trading Strategy
Buy. Stop loss is at 0.63
Source:Jupiter Securities Reasearch 07 September 2012
Description
Resistance : 0.72
Support : 0.63
RSI of 49
RSI is neutral
STOCHASTIC
It is oversold
Comment
The rebound off the low of 0.625 yesterday, is likely to head higher due to oversold technicals
Trading Strategy
Buy. Stop loss is at 0.63
Source:Jupiter Securities Reasearch 07 September 2012
Daily Summary - 7 Sep 2012
YOUR MORNING COFFEE – Friday 7/9/2012
SUMMARY
SUMMARY
- Wall St closed 1.8% higher, due to the ECB’s decision to do whatever it takes to protect the euro, and the bond buying program to boost the economy. US weekly initial jobless claims dipped to 365,000. US, this Friday, is expected to announce 120,000 new jobs added in August.
- Dow of 13,292, is on a technical rebound. Resistance is at 13,338. RSI of 61, is steady.
- DOLLAR INDEX is lower at 81.1. Resistance is at 82.9.
- Crude oil is higher at USD95.5. Resistance is at 100.0.
- Dollar yen is higher at 78.9 yen. Support is at 77.4.
- Euro/dollar is higher at 1.264. Upside is at 1.262.
- Gold is higher at USD1696. Upside is at 1740.
- Shanghai closed higher at 2,051.
- Singapore STI closed lower at 2,988.
- Ringgit is firmer at 3.107. Downside is at 3.210.
- S’pore ringgit is higher at 2.499. Upside is at 2.540.
- Malaysian market closed lower at 1617. On the Daily chart, it is targeting 1710 over a longer term. Near term pullback support is at 1612. RSI of 32, is approaching oversold. Today’s range is between 1614 and 1630.
- CPO Nov futures is lower at RM2938. Resistance is at 3270.
- Trading : GENM ( 4715 : 3.52 ) : Take profit, GAMUDA ( 5398 : 3.41 ) : Targeting 3.80/Stop loss 3.30, KNM ( 7164 : 0.655 ) : Targeting 0.72/Stop loss 0.63
Morning Coffee - 6 Sep 2012
MARKET ROUNDUP (Source Bloomberg)
Most U.S. Stocks Fall On FedEx, Economy Ahead Of ECB Plan: amid a slump in FedEx (FDX) Corp. and disappointing global economic data as investors awaited the European Central Bank’s plan to buy bonds. The S&P 500 lost 0.1 percent to 1,403.44 at 4 p.m. New York time, after rising as much as 0.3 percent earlier. The Dow Jones Industrial Average added 11.54 points, or 0.1 percent, to 13,047.48. About five shares fell for every four that advanced on U.S. exchanges, with volume at 5.7 billion shares, or 6.4 percent below the three-month average.
European Stocks Swing Between Gains, Losses Before ECB: as investors await tomorrow’s European Central Bank meeting. The U.K.’s FTSE 100 Index fell 0.3 percent. France’s CAC 40 gained 0.2 percent and Germany’s DAX rose 0.5 percent.
Oil Gains A Second Day As U.S. Stockpiles Drop Most Since July: after a report showed stockpiles declined the most in five weeks in the U.S., the world’s biggest crude consumer. Oil for October delivery gained as much as 70 cents to $96.06 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.79 at 9:27 a.m. Sydney time. The contract climbed 6 cents yesterday to close at $95.36. Frontmonth prices are down 3.1 percent this year.
Gold To Fall As Stronger Dollar Curbs Investment Demand: Gold futures declined for the first time in three sessions. The ECB was said to propose unlimited government-debt purchases that will be sterilized, ensuring a neutral impact on the money supply by removing funds from elsewhere in the banking system. Gold futures for December delivery fell 0.1 percent to settle at $1,694 at 1:41 p.m.
CORPORATE NEWS
A&W sale to put KUB back in black: expects to return to the black this financial year ending December 2012 with the sale of its entire stake in A&W Restaurants (Thailand) Ltd Co and A&W (Malaysia) Sdn Bhd.
Singapore REITs yield world's best returns: Singapore's US$38 billion (RM118.18 billion) REIT market has returned an average 37 per cent in 2012, twice the gains in the US, the UK and Japan, according to data compiled by Bloomberg.
Btimes
JCY tumbles 9% on outlook, weak market: combination of a weak broader market and gloomy semiconductor outlook hurt investor sentiment towards the hard disk drive (HDD) maker.
Westports’ capacity expansion: poised to handle about nine million containers of twenty-foot equivalent units (TEUs) once its new 600-metre wharf is ready by 2014.
StarbIz
Source:Jupiter Securities Reasearch 06 September 2012
Most U.S. Stocks Fall On FedEx, Economy Ahead Of ECB Plan: amid a slump in FedEx (FDX) Corp. and disappointing global economic data as investors awaited the European Central Bank’s plan to buy bonds. The S&P 500 lost 0.1 percent to 1,403.44 at 4 p.m. New York time, after rising as much as 0.3 percent earlier. The Dow Jones Industrial Average added 11.54 points, or 0.1 percent, to 13,047.48. About five shares fell for every four that advanced on U.S. exchanges, with volume at 5.7 billion shares, or 6.4 percent below the three-month average.
European Stocks Swing Between Gains, Losses Before ECB: as investors await tomorrow’s European Central Bank meeting. The U.K.’s FTSE 100 Index fell 0.3 percent. France’s CAC 40 gained 0.2 percent and Germany’s DAX rose 0.5 percent.
Oil Gains A Second Day As U.S. Stockpiles Drop Most Since July: after a report showed stockpiles declined the most in five weeks in the U.S., the world’s biggest crude consumer. Oil for October delivery gained as much as 70 cents to $96.06 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.79 at 9:27 a.m. Sydney time. The contract climbed 6 cents yesterday to close at $95.36. Frontmonth prices are down 3.1 percent this year.
Gold To Fall As Stronger Dollar Curbs Investment Demand: Gold futures declined for the first time in three sessions. The ECB was said to propose unlimited government-debt purchases that will be sterilized, ensuring a neutral impact on the money supply by removing funds from elsewhere in the banking system. Gold futures for December delivery fell 0.1 percent to settle at $1,694 at 1:41 p.m.
CORPORATE NEWS
A&W sale to put KUB back in black: expects to return to the black this financial year ending December 2012 with the sale of its entire stake in A&W Restaurants (Thailand) Ltd Co and A&W (Malaysia) Sdn Bhd.
Singapore REITs yield world's best returns: Singapore's US$38 billion (RM118.18 billion) REIT market has returned an average 37 per cent in 2012, twice the gains in the US, the UK and Japan, according to data compiled by Bloomberg.
Btimes
JCY tumbles 9% on outlook, weak market: combination of a weak broader market and gloomy semiconductor outlook hurt investor sentiment towards the hard disk drive (HDD) maker.
Westports’ capacity expansion: poised to handle about nine million containers of twenty-foot equivalent units (TEUs) once its new 600-metre wharf is ready by 2014.
StarbIz
Source:Jupiter Securities Reasearch 06 September 2012
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