Monday, March 31, 2008
4:12 pm - KLSE Market outlook from Bill Wermine !
Dear Traders,
On Saturday, Phillip Singapore conducted a seminar on currency trading at our office which some of you attended. The Phillip analist concluded that raging inflation, world stock market volatility, credit collapse in the US will create currency trading opportunities and opportunities in CI and CPO futures.
Obviously, dealing in highly risky futures and currencies requires trading and risk management skills as well as total focus and discipline. Our Master the Markets course and support network does provide a foundation to survive and prosper in this environment. But it takes hard work to succed.
If you are too busy to trade, the alternative for inflation protection is diversifying some of you assets to Man Funds. The OM 3Eclipse closed end fund closes for subscription on Friday 4 April. The next fund will open in 3 or 4 months.
A few of the Friday/Saturday guests did invest in Man and I commend you for being motivated to come. Especially Friday night in the face of massive traffic jams due to flooding. Grabbing an opportunity, it seems there will always be an obstical in the way and the winner in life will always find a way to overcome the difficulty.
If you can not afford the RM 50,000 minimum investment for Man , buying gold coins from UOB Bank on a cost averaging basis is another way to protect yourself from inflation. They offer a 1 ounce Maple Leaf/Australian Nugget and will buy/sell with a 5 % spread. Current price is RM 3160 per coin. You will also need to rent a bank safe deposit box to store your coins . Remember, gold like property and palm oil has no counterparty risk unlike bank deposits, bonds, shares, cash currencies, insurance policies and has been a store of value for thousands of years.
Market Outlook
Continue to focus on high quality plantation shares. With the recent correction many are trading at attractive levels. The supply and demand picture has not changed. TG has issued strong smart money buy indications on some of the plantation shares. IOI Corp insiders are buying back their shares as reported in the Edge and the CIMB Insiders transaction report which CIMB issues daily. If you need info on this call Martin at CIMB.
On Saturday, Phillip Singapore conducted a seminar on currency trading at our office which some of you attended. The Phillip analist concluded that raging inflation, world stock market volatility, credit collapse in the US will create currency trading opportunities and opportunities in CI and CPO futures.
Obviously, dealing in highly risky futures and currencies requires trading and risk management skills as well as total focus and discipline. Our Master the Markets course and support network does provide a foundation to survive and prosper in this environment. But it takes hard work to succed.
If you are too busy to trade, the alternative for inflation protection is diversifying some of you assets to Man Funds. The OM 3Eclipse closed end fund closes for subscription on Friday 4 April. The next fund will open in 3 or 4 months.
A few of the Friday/Saturday guests did invest in Man and I commend you for being motivated to come. Especially Friday night in the face of massive traffic jams due to flooding. Grabbing an opportunity, it seems there will always be an obstical in the way and the winner in life will always find a way to overcome the difficulty.
If you can not afford the RM 50,000 minimum investment for Man , buying gold coins from UOB Bank on a cost averaging basis is another way to protect yourself from inflation. They offer a 1 ounce Maple Leaf/Australian Nugget and will buy/sell with a 5 % spread. Current price is RM 3160 per coin. You will also need to rent a bank safe deposit box to store your coins . Remember, gold like property and palm oil has no counterparty risk unlike bank deposits, bonds, shares, cash currencies, insurance policies and has been a store of value for thousands of years.
Market Outlook
Continue to focus on high quality plantation shares. With the recent correction many are trading at attractive levels. The supply and demand picture has not changed. TG has issued strong smart money buy indications on some of the plantation shares. IOI Corp insiders are buying back their shares as reported in the Edge and the CIMB Insiders transaction report which CIMB issues daily. If you need info on this call Martin at CIMB.
The Plantation index chart shows 3 green rectangles at the bottom which show smart money accumulation. The green rectangle is the stongest buy signal in the TG program
There is also good swing freedom from these levels which defines good reward to risk ratios in this sector.
We are also holding our Master the Markets Foundation program next Monday and Tuesday 7/8 April at the PC Quote training room. This will be a small group as we did not advertise or promote the course. Tell your friends and you are welcome to come to refresh your selves. Prior grads are FOC but you need to bring your notes. Call Dolly if interested 03 42524149/ 016 637 1508
Have a profitable week,
Bill
There is also good swing freedom from these levels which defines good reward to risk ratios in this sector.
We are also holding our Master the Markets Foundation program next Monday and Tuesday 7/8 April at the PC Quote training room. This will be a small group as we did not advertise or promote the course. Tell your friends and you are welcome to come to refresh your selves. Prior grads are FOC but you need to bring your notes. Call Dolly if interested 03 42524149/ 016 637 1508
Have a profitable week,
Bill
2:53 pm - KLCI touch the last high at 1259 and then turn mushrooming down
Here is a chart of 10 mins of KLCI.
Sunday, March 30, 2008
8:35 pm - Chart of the Week - iCapital.Biz
Here is a closed ended fund from Mr. Warren Buffet of M'sia - Tan Teng Boo of icapital.
Above 200 MA and 5 L/C.
Friday, March 28, 2008
12:41 pm - Here is some reasons why you should be investing in Man Investment Hedge Fund
Man Group Says Annual Profit Tops Analysts' Estimates (Update2)2008-03-27 04:48 (New York)
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
12:41 pm - Here is some reasons why you should be investing in Man Investment Hedge Fund
Man Group Says Annual Profit Tops Analysts' Estimates (Update2)2008-03-27 04:48 (New York)
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
10:37 am - PBBank financial results for 1st qtr is good ?
Market expected good results for PB Bank for 1st qtr of the year.
10:26 am - Financial results for Berjaya Group is very positive ??? and due to be released !
I cannot confirm that but the prices are.
Thursday, March 27, 2008
5:06 pm - KLCI has broken to new ground terrority. This is very bullish ~
Let's see how DJIA closes tonite. If DJIA closed lower tonite, our KLCI market will gap down and move up, like today.
11:33 am - Maybank is down and if this continue to go, it will be likely down tomorrow.
We will having lower low KLCI.
11:00 am - Lee Yeow Seng bought 100k of shares in IOI Corp
I believe this chap is the MD of IOI Corp. Any one to confirm ?
9:44 am - Another big hit for uptrend for Transmile.
Becareful if you are going to enter this counter, syndicate maybe distributing their goods to you.
9:31 am - KLCI gap down due to Maybank . They said Maybank overpaid for BII bank of Indonesia.
Resistance at 1240.0. It wud take a lot of effort (volume) to break above.
Wednesday, March 26, 2008
8.00 pm - Malaysia's Maybank buys Indonesia's BII in move to become regional player
SINGAPORE (Thomson Financial) - Malayan Banking Bhd, the largest bank in Malaysia, said Wednesday it has agreed to buy a 56 percent stake in Bank Internasional Indonesia (BII) from Singapore's state-linked Temasek Holdings Ltd and South Korea's Kookmin Bank, for 4.8 billion ringgit or about 1.5 billion US dollars. The acquisition is part of Maybank's strategy to become a regional bank as it tries to catch up with the regional expansion of its Malaysian banking peers. Analysts however said Maybank may be overpaying to gain a foothold in Indonesia. BII is Indonesia's eighth-largest bank. Maybank recently bought a 15 percent stake in Vietnam's An Binh Commercial Joint Stock bank for 430 million ringgit. "The acquisition will transform our growth prospects in Indonesia," said Aminuddin Desa, acting chief executive of Maybank. The move is "a huge step forward in our strategy to regionalize our operations through investments in selected high-growth markets," he said. With a population of 230 million, Indonesia offers Maybank long-term growth potential because banking penetration in the country is relatively low compared to other markets, Aminuddin said. Temasek is among the early foreign investors in the Indonesian banking sector and also owns 68 percent of Bank Danamon, Indonesia's fifth largest bank. After studying the feasibility of merging BII and Bank Danamon, Temasek opted to sell the smaller bank, BII, to comply with Indonesian rules prohibiting foreign entities from controlling more than one Indonesian bank by end-2010, said Elvira Tjandrawinata, an analyst at state brokerage Danareksa in Jakarta. Maybank is the second Malaysian bank to venture in Indonesia after CIMB Bank, Malaysia's second-largest bank. CIMB bought a controlling stake in Bank Niaga, Indonesia's sixth-largest bank in 2002, and earlier this month it bought a 20 percent stake in Bank of Yingkou in China. Other Malaysian banks have also been venturing overseas. Hong Leong Bank, Malaysia's sixth largest bank, bought a 20 percent stake in China's Chengdu Bank, in 2007 and Public Bank, Malaysia's third-largest bank, bought Hong Kong-based Asia Commercial Bank in 2006.
Hefty premium
Some analysts questioned the amount Maybank is paying for the BII stake. "We believe that Maybank has overpaid tremendously," said Marcus Chan, analyst at CLSA Asia-Pacific Markets in Kuala Lumpur. "This values the Indonesian bank at 8.6 billion ringgit and, at 4.7 times 2007 price-to-book ratio and 4.2 times prospective 2008 price-to-book ratio, is a record valuation paid for an Indonesian bank. We believe that value creation will be long and difficult," Chan said. Maybank's Aminuddin defended the high price paid for the acquisition. "It is normal that you pay such a premium for a controlling stake. Maybank's aspires to be a regional bank. Indonesia as a market has a strong growth potential that we cannot miss," he said. Other analyst believe the premium could be justified as there are not many opportunities to acquire big banks in Indonesia. "There is a significant premium. I guess it is all about demand and supply," said Mulya Chandra, an analyst at CIMB-GK in Jakarta. "I think there are no more big banks for sale here except the state banks. That's the fact that has probably driven the valuation (up)," he said.
Determined buyer
Intense competition from other bidders may have also encouraged Maybank to put in a strong bid. "It looks like Maybank was very determined to get the deal through -- it put up a very attractive offer which was hard to turn down," said Pong Teng Siew, head of research of MIMB Investment Bank in Malaysia. Earlier media reports said Kookmin Bank and Bank of China were among the final three bidders for Temasek's stake in BII. Pong said his preliminary calculations suggest that Maybank is paying a premium of at least 11.2 percent for BII. "This is a substantial acquisition. The bank is poised for a major move outside Malaysia. It seems Maybank is going to make Indonesia its main operation centre for its overseas business," Pong said. Maybank has in the past unsuccessfully tried to buy other financial assets in Indonesia. In November, the Indonesian government rejected Maybank's proposal to acquire a 60 percent stake in PT Anugrah Life Insurance, a subsidiary of PT Panin Life Tbk, due to restrictions imposed on foreign companies. Panin Life controls Panin Bank, one of the top banks in Indonesia. Maybank said it has obtained the approval of Bank Negara, the Malaysian central bank, for the proposed acquisition. The deal will now await regulatory approval from Indonesia's central bank and from Maybank shareholders. Once the acquisition is completed, Maybank will make a general offer for the remaining 44 percent of BII, as required by the rules in Indonesia. Maybank said it will file its statement on the buyout offer, which is expected to cost 3.8 billion ringgit, with the Jakarta Stock Exchange and BII in due course. The premium paid by Maybank to the majority shareholders of BII should make it easier to convince minority shareholders to sell their shares, analysts in Jakarta said. "I am sure the majority shareholders would make a huge capital gain -- it is a clean exit," said Tjandrawinata of Danareksa. "As for the minority shareholders, I think they will sell their shares. What more upside could you expect?" Maybank shares were suspended from trading Wednesday and last traded Monday at 8.95 ringgit. Trading of Maybank shares will resume on Thursday. In Jakarta, BII shares finished Wednesday up 12 percent at 465 rupiah.
(1 US dollar = 1.38 Singapore dollars, 3.19 ringgit) jonathan.burgos@thomson.com aipeng.soo@thomson.com
Hefty premium
Some analysts questioned the amount Maybank is paying for the BII stake. "We believe that Maybank has overpaid tremendously," said Marcus Chan, analyst at CLSA Asia-Pacific Markets in Kuala Lumpur. "This values the Indonesian bank at 8.6 billion ringgit and, at 4.7 times 2007 price-to-book ratio and 4.2 times prospective 2008 price-to-book ratio, is a record valuation paid for an Indonesian bank. We believe that value creation will be long and difficult," Chan said. Maybank's Aminuddin defended the high price paid for the acquisition. "It is normal that you pay such a premium for a controlling stake. Maybank's aspires to be a regional bank. Indonesia as a market has a strong growth potential that we cannot miss," he said. Other analyst believe the premium could be justified as there are not many opportunities to acquire big banks in Indonesia. "There is a significant premium. I guess it is all about demand and supply," said Mulya Chandra, an analyst at CIMB-GK in Jakarta. "I think there are no more big banks for sale here except the state banks. That's the fact that has probably driven the valuation (up)," he said.
Determined buyer
Intense competition from other bidders may have also encouraged Maybank to put in a strong bid. "It looks like Maybank was very determined to get the deal through -- it put up a very attractive offer which was hard to turn down," said Pong Teng Siew, head of research of MIMB Investment Bank in Malaysia. Earlier media reports said Kookmin Bank and Bank of China were among the final three bidders for Temasek's stake in BII. Pong said his preliminary calculations suggest that Maybank is paying a premium of at least 11.2 percent for BII. "This is a substantial acquisition. The bank is poised for a major move outside Malaysia. It seems Maybank is going to make Indonesia its main operation centre for its overseas business," Pong said. Maybank has in the past unsuccessfully tried to buy other financial assets in Indonesia. In November, the Indonesian government rejected Maybank's proposal to acquire a 60 percent stake in PT Anugrah Life Insurance, a subsidiary of PT Panin Life Tbk, due to restrictions imposed on foreign companies. Panin Life controls Panin Bank, one of the top banks in Indonesia. Maybank said it has obtained the approval of Bank Negara, the Malaysian central bank, for the proposed acquisition. The deal will now await regulatory approval from Indonesia's central bank and from Maybank shareholders. Once the acquisition is completed, Maybank will make a general offer for the remaining 44 percent of BII, as required by the rules in Indonesia. Maybank said it will file its statement on the buyout offer, which is expected to cost 3.8 billion ringgit, with the Jakarta Stock Exchange and BII in due course. The premium paid by Maybank to the majority shareholders of BII should make it easier to convince minority shareholders to sell their shares, analysts in Jakarta said. "I am sure the majority shareholders would make a huge capital gain -- it is a clean exit," said Tjandrawinata of Danareksa. "As for the minority shareholders, I think they will sell their shares. What more upside could you expect?" Maybank shares were suspended from trading Wednesday and last traded Monday at 8.95 ringgit. Trading of Maybank shares will resume on Thursday. In Jakarta, BII shares finished Wednesday up 12 percent at 465 rupiah.
(1 US dollar = 1.38 Singapore dollars, 3.19 ringgit) jonathan.burgos@thomson.com aipeng.soo@thomson.com
5:36 am - Maybank is suspended today due to announcement !
If opened tomorrow, you wud see it +0.20 to + 0.50 up and causes CI to go up.
It has a bullish pattern for Maybank.
1:42 pm - Another little bird told me about Gamuda.
The weekly chart for Gamuda is a beautiful swing trade.
Stop at the bottom and get in today or tomorrow.
Tuesday, March 25, 2008
3:52 pm - Little bird told me that Proton might be taken private.
Watch for the volume build-up for Proton.
1:34 pm - Malaysian shares end morning sharply higher on Wall Street's rally
- UPDATE KUALA LUMPUR (Thomson Financial) - Malaysian shares ended the morning session sharply higher Tuesday after US stocks rallied overnight on an unexpected rise in home sales and news of JPMorgan's revised offer for Bear Stearns. Also lifting sentiment were the new measures announced by Prime Minister Abdullah Ahmah Badawi aimed at boosting stock market liquidity. Abdullah told fund managers at an investment conference that the main and second boards will be combined into one board for more established companies, cutting down the number of boards in the Malaysian stock exchange to two from three. The stock exchange will also introduce market makers, which could include proprietary traders at commercial and investment banks, as well as foreign traders, to enhance liquidity, he said. At the midday break, the Kuala Lumpur Composite Index (KLCI) was up 24.34 points or 2percent at 1,225.36. The FTSE Bursa Malaysia 30-large cap index gained 151.15 points or 1.9 percent to 8,130.96 and the FTSE Bursa Malaysia second board index added 25.84 points or 0.5 percent to 5,710.75. Advancers led decliners 493 to 169 with 168 stocks unchanged and 535 counters untraded. Trading volume was 506.8 million shares, valued at 608.88 million ringgit. "The market was higher mainly because of the strong closing in the US," said Michael Lai, investment director at Fortress Capital Asset Management. The Dow Jones Industrial Average rose 187.32 points or 1.5 percent to 12,548.64 on Mondayafter JPMorgan Chase raised its offer for ailing rival Bear Stearns to 10 dollars a share from 2 dollars. Sentiment was also boosted by a report from the National Association of Realtors that sales of existing homes rose 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. Economists had expected a slight decline. The streamlining of the board structure of the Malaysian stock exchange and the setting up of amarket-making mechanism should help increase liquidity if they are well implemented, said Lai. "Unifying the main and second boards is probably good news for second-board companieswhich have long been overlooked by investors in the past few years. "However, a good market-making mechanism is essential. Otherwise, in formality you may have one board but the market remains a two-tier market," he said. Stock exchange operator Bursa Malaysia ended the morning sharply higher. The stock jumped 55 sen or 6.7 percent to 8.80 ringgit. Plantation stocks, which were among the hardest hit in the recent selloff, were broadly higher as investors sought bargains. Sime Darby, the world's largest oil palm grower, gained 20 sen or 2.2 percent to 9.20 ringgitand IOI Corp, the second-biggest palm oil stock on the bourse by market value, rose 10 sen or 1.5 percent to 6.70 ringgit. Kuala Lumpur Kepong, which has interests in oil palm as well as rubber plantations, jumped 40sen or 2.5 percent to 16.50 ringgit. Among blue chips, DiGi.com rose 1 ringgit or 4.4 percent to 24.00 ringgit while construction group IJM surged 40 sen or 7.5 percent to 5.75 ringgit. Malaysia's leading bank, Maybank, added 15 sen or 1.7 percent to 8.90 ringgit, national power utility Tenaga advanced 20 sen or 2.9 percent to 7.05 ringgit and state-controlled Telekom Malaysia was steady at 10.90 ringgit. The Malaysian ringgit was quoted at 3.1970/2005 against the US dollar.
Monday, March 24, 2008
1:57 pm - Weekly KLSE Market from Bill Wermine
Dear Traders,
I wish to thank all of you who attended the Atic Convention and supported us. I am sure you benefitted from the wide array of products and services available.
I have attached a brochure of a seminar by Grace Chan, a professional currency trader with Phillip Futures Singapore who will share her strategies. She has many years as a currency trader and will share how to get a trading edge. There are 2 sessions Dates are 28/ 29 March. Fri evening and Sat morning.
The price is only RM 30 for each session and will be held at the Phillip office at B-2-6 Megan Ave 11, 12 Jalan Yap Kwan Seng. This is in contrast with the many other currency trading programs marketed at the ATIC who charge a wide range of fees - from free of charge to RM 5000.
If you are interested in currency trading, this could be a good introduction. If you use price and volume which we teach in our Master the Markets program to trade you will be ahead of 90 % of the retailers
Market Outlook
I wish to thank all of you who attended the Atic Convention and supported us. I am sure you benefitted from the wide array of products and services available.
I have attached a brochure of a seminar by Grace Chan, a professional currency trader with Phillip Futures Singapore who will share her strategies. She has many years as a currency trader and will share how to get a trading edge. There are 2 sessions Dates are 28/ 29 March. Fri evening and Sat morning.
The price is only RM 30 for each session and will be held at the Phillip office at B-2-6 Megan Ave 11, 12 Jalan Yap Kwan Seng. This is in contrast with the many other currency trading programs marketed at the ATIC who charge a wide range of fees - from free of charge to RM 5000.
If you are interested in currency trading, this could be a good introduction. If you use price and volume which we teach in our Master the Markets program to trade you will be ahead of 90 % of the retailers
Market Outlook
Major support is building at the 1180 level on the composite index as evidenced by the blue trend cluster at the right edge of the chart. Expect more consolidation with a slight upside bias in the week ahead. This may be an opportunity to lighten up on your equity portfolio as price moves up to the 1300 level.
Most of ther analists at the ATIC convention were super bearish. The Hulbert newsletter digest from the US which compiles sentiment from all the prominent newsletter writers reprted negative senitiment is at a 22 year extreme, the worst since 1987. That should at least put a floor under the market in the short term.
If the crowd of advisers are right you should consider Man fund for your long term capital protection- OM IP Eclipse Fund closes on 4 April. or learn how to trade currencies. One fact is almost for sure. The US will not raise interest rates as long as the housing market is in trouble which will increase inflation and increase stock market volatility around the world. Gold took a big hit last week but the long term trend are still up. Gold shops in KL have reported an increase in biusiness with the price drop.
Have a good week
Bill
Most of ther analists at the ATIC convention were super bearish. The Hulbert newsletter digest from the US which compiles sentiment from all the prominent newsletter writers reprted negative senitiment is at a 22 year extreme, the worst since 1987. That should at least put a floor under the market in the short term.
If the crowd of advisers are right you should consider Man fund for your long term capital protection- OM IP Eclipse Fund closes on 4 April. or learn how to trade currencies. One fact is almost for sure. The US will not raise interest rates as long as the housing market is in trouble which will increase inflation and increase stock market volatility around the world. Gold took a big hit last week but the long term trend are still up. Gold shops in KL have reported an increase in biusiness with the price drop.
Have a good week
Bill
12:56 noon : Chart of the Week : UemBuilder with 5 L/C
It also has hidden potential buying confirmed with high volume.
12:47 pm - Here is a swing trade for Berjaya Toto on a weekly basis
Buy @ 4.90 and stop loss @ 4.50. It is a high quality dividend yield play.
12:19 noon - Here is a good counter for dividend yield play !
Acostec - check it out yourself - double digit dividend yield. A triple bottom support.
Friday, March 21, 2008
10:12 am - AMMB selldown first thing in the morning after Wed last min push up in prices.
There were no volume for this wide range bar.
Wednesday, March 19, 2008
Subscribe to:
Posts (Atom)
Posts
