9:05 pm - Chart of the Week - IOI Corp

I believe there are some volume building up and big players are interested in IOI Corp.

Crude oil is edging higher and palm oil production was lower due to flooding in the south & east M'sia.

Check out the earlier blog that I have written.

8:51 pm - Last week Chart of the Week : VADS really flew off the chart.

Let's see if it can continue for next week. Tradeguider did pick it up too before it ran off.

Here is a chart from Tradeguider.

8:36 pm - Malaysian shares close higher in thin trade led by blue chips

- UPDATE KUALA LUMPUR (Thomson Financial) - Malaysian shares closed higher Friday supported by gains in key blue chips, but volumes were thin as most traders have begun their holiday break ahead of the weekend and Christmas Day. The Malaysian stock exchange will be closed on Tuesday for the Christmas holiday. The Kuala Lumpur Composite Index (KLCI) closed up 16.35 points or 1.2 percent at 1,403.56, little changed from last Friday's closing level of 1,403.41. The FTSE Bursa Malaysia 30-large cap rose 115.92 points or 1.3 percent to 9,065.06 and the FTSE Bursa Malaysia second board index added 17.01 points or 0.3 percent to 6,652.08. Advancers outnumbered decliners 472 to 344, with 293 stocks unchanged and 240 counters untraded. Trading volume was 636.24 million shares valued at 1.4 billion ringgit. Investor confidence has somewhat improved after major central banks implemented a rescue plan aimed at easing the global credit crunch, said Ang Kok Heng, chief investment officer of Phillip Capital Management. He was referring to the European Central Bank's injection of 500 billion US dollars into the financial system earlier this week. "Going forward, we will still have to look at the developments in the US credit market," said Ang. "I don't expect things will turn out to be very ugly as the concerted effort by major central banks around the globe will serve as a liquidity buffer against a global credit squeeze." The local market may trade higher next week on year-end window dressing activity by fund managers, said Pong Teng Siew, head of research at MIMB Investment Bank. "However, given that 2007 has been a very good year, with the KLCI gaining more than 30 percent compared to the same time last year, I don't think fund managers will embark on any ambitious window-dressing," said Pong. Palm oil producer Kuala Lumpur Kepong led the advance, rising 50 sen or 3.2 percent to 16.20 ringgit. Sime Darby, the world's largest listed palm oil company by planted area, rose 20 sen or 1.8 percent to 11.20 ringgit. Among other index heavyweights, Telekom Malaysia advanced 10 sen or 0.9 percent to 11.20 ringgit, national power supplier Tenaga rose 25 sen or 2.7 percent to 9.55 ringgit and Maybank, Malaysia's largest bank, was up 10 sen or 0.9 percent at 11.60 ringgit. IJM Corp jumped 35 sen or 4.3 percent to 8.55 ringgit after the construction group said it plans to make a cash repayment of 50 sen per share. Gamuda gained 32 sen or 7.3 percent to 4.72 ringgit. The builder is the contractor for the 12.5 billion ringgit double-tracking project linking Malaysia and Thailand. State-controlled UEM World rose 10 sen or 2.7 percent to 3.84 ringgit and its construction arm, UEM Builder, advanced 2 sen or 1.8 percent to 1.15 ringgit. On Wednesday, UEM Land, the property arm of UEM World, said it has teamed up with Limitless Holdings to develop a residential project in the southern state of Johor. Limitless is a unit of Dubai World, an investment company owned by the Dubai government. At the close, the Malaysian ringgit was quoted at 3.3470/3520 against the US dollar. Three-month interbank rates were quoted at 3.58/61 percent and the overnight rates were quoted at 3.48/50 percent.

11:23 am - Election fever and mini rally to March 2008 ???

Election is generally held on school holiday. So the next year school holiday break is from March 8 to March 16.


Prediction : March 3, 2008

10:02 am - IOI Corp acquired by Progressive Holdings S.B

If we see a series of test around RM 7.05 - RM 7.10 then watch this counter.

According to changes in shareholdings in BMSB. Progressive Holdings S.B bought almost 3 mil units of IOI Corp. from 13 - 18 Dec 2007.

9:55 am - VADS is having another 18 L/C.

Volume is not fantanstic but ok !