HONG KONG: Asian markets gained yesterday as bargain-hunters moved in the day after a heavy sell-off, with sentiment boosted by a rally on Wall Street.
Wall Street shares gained 1.28 per cent overnight to snap a three-day losing streak, boosted by a pick-up in merger and acquisition activity.
Investors also awaited the release of data, including US consumer confidence figures, later Tuesday.
TOKYO: Up 0.91 per cent. The Nikkei-225 gained 90.68 points to 10,100.20.
Investors were closely monitoring foreign exchange movements as the dollar rose to 90.01 yen in Tokyo afternoon trade from 89.58 in New York late Monday, when it had earlier sunk to 88.25.
SYDNEY: Up 1.62 per cent. The S&P/ASX 200 put on 75.7 points to 4,753.1 "We had a good lead from Wall Street overnight and have got consumer confidence data coming out in the US tonight which should be fairly positive considering the good run in the market in July and August," said an analyst.
SHANGHAI: Down 0.33 per cent. The Shanghai Composite Index, which covers both A and B shares, was down 8.98 points to 2,754.54. Investors fear securities regulators may quicken the pace of initial public offerings for the new index, which will soak up liquidity in the market, dealers said.
SEOUL: Up 0.87 per cent. The KOSPI ended up 14.50 points at 1,690.05. Banks, technology companies and auto firms led gains after recent weakness.
TAIPEI:Up 2.0 per cent. The weighted index rose 145.37 points to 7,429.98. The market was boosted by big caps focusing on flat panels and semiconductors after Taipei said it may ease controls on high-tech investments in China by local companies while allowing further Chinese investments here.Alibaba.com - The largest database of products & suppliers from China
BANGKOK: Up 0.90 per cent. The Stock Exchange of Thailand gained 6.41 points to close at 715.29.
JAKARTA: Up 1.92 per cent. The Jakarta Composite Index gained 46.01 points to 2,443.83.
MANILA: Up 0.81 per cent. The composite index gained 22.67 points to 2,807.32.
WELLINGTON: Up 0.77 per cent. The NZX-50 rose 24.22 points to 3,155.39.
MUMBAI: Up 0.96 per cent. The 30-share Sensex index rose 159.91 points to 16,852.91. - AFP
September 30, 2009
Saham murah rangsang pasaran
HARGA saham di Bursa Malaysia ditutup kukuh semalam dirangsang oleh kegiatan membeli saham murah dan juga seiring dengan aliran serantau.
Peniaga berkata, sentimen serantau meningkat berikutan lantunan semula di pasaran Amerika Syarikat (AS) yang dicetuskan oleh beberapa berita mengenai pengambilalihan korporat.
Pada penutup, Indeks Komposit FTSE Bursa Malaysia Kuala Lumpur naik 2.26 mata kepada 1,208.21 selepas dibuka 2.42 mata lebih tinggi pada 1,208.37.
“Kegiatan belian semalam meningkat dengan ketara, didorong oleh berita dari AS dan juga seiring dengan pasaran serantau," kata penganalisis TA Securities, Stephen Soo.
Beliau menjangkakan yang paras sokongan dalam lingkungan 1,200 sementara halangan pada 1,220.
Indeks FBMEmas menokok 19.66 mata kepada 8,137.72, FBM Top 100 mengukuh 18.62 mata kepada 7,927.54, FBM70 melonjak 33.89 mata kepada 8,048.95 dan FBM ACE Index mengembang 46.53 mata kepada 4,023.91.
Indeks Teknologi naik 0.08 mata kepada 16.36, Indeks Kewangan lebih tinggi 39.57 mata kepada 9,974.11, Indeks Perladangan menambah 0.99 mata kepada 5,910.13 dan Indeks Perusahaan menokok 3.13 mata kepada 2,648.42.
Saham untung mengatasi saham rugi dengan 369 berbalas 239 sementara 265 kaunter tidak berubah dan 385 tidak diniagakan.
Jumlah dagangan mengukuh kepada 594.587 juta saham bernilai RM720.739 juta daripada 454.117 juta saham bernilai RM605.403 juta, kelmarin.
Mendahului saham yang untung termasuklah British American Tobacco, yang menambah 34 sen kepada RM44.94, HAIO naik 27 sen kepada RM5.69 dan KFC meningkat 20 sen kepada RM7.60.
Antara yang aktif, KNM kekal pada 76 sen sementara Land & General melonjak 3.5 sen kepada 41.5 sen dan TA Enterprise menokok sembilan sen kepada RM1.48.
Bagi saham berwajaran tinggi, Sime Darby menambah satu sen kepada RM8.53 sementara IOI Corp susut tiga sen kepada RM5.20.
PPB mengukuh dua sen kepada RM15.94 dan KLK naik 10 sen kepada RM13.88 manakala MISC susut 10 sen kepada RM8.90.
Maybank dan Tenaga Nasional, masing-masing meningkat tiga sen kepada RM6.68 dan RM8.21 sementara CIMB Group mengembang empat sen kepada RM11.14 dan DiGi lebih tinggi 20 sen kepada RM21.50.
Di Pasaran Utama, jumlah dagangan melonjak kepada 527.654 juta saham bernilai RM795.882 juta daripada 416.577 juta saham bernilai RM595.463 juta kelmarin.
Jumlah dagangan di Pasaran ACE pula menambah kepada 43.906 juta saham bernilai RM8.038 juta daripada 20.852 juta saham bernilai RM5.445 juta sementara waran pula menokok kepada 16.615 juta unit bernilai RM3.918 juta daripada 14.104 juta unit bernilai RM3.367 juta.
Produk pengguna menguasai 41.268 juta saham yang diniagakan di Pasaran Utama, produk perusahaan 131.777 juta, pembinaan 30.424 juta, urus niaga dan perkhidmatan 171.991 juta, teknologi 15.056 juta, infrastruktur 5.819 juta, kewangan 48.533 juta, perhotelan 2.197 juta, hartanah 71.19 juta, perladangan 7.788 juta, perlombongan 10,000, REIT 1.556 juta dan dana tertutup 40,000. - Bernama
Peniaga berkata, sentimen serantau meningkat berikutan lantunan semula di pasaran Amerika Syarikat (AS) yang dicetuskan oleh beberapa berita mengenai pengambilalihan korporat.
Pada penutup, Indeks Komposit FTSE Bursa Malaysia Kuala Lumpur naik 2.26 mata kepada 1,208.21 selepas dibuka 2.42 mata lebih tinggi pada 1,208.37.
“Kegiatan belian semalam meningkat dengan ketara, didorong oleh berita dari AS dan juga seiring dengan pasaran serantau," kata penganalisis TA Securities, Stephen Soo.
Beliau menjangkakan yang paras sokongan dalam lingkungan 1,200 sementara halangan pada 1,220.
Indeks FBMEmas menokok 19.66 mata kepada 8,137.72, FBM Top 100 mengukuh 18.62 mata kepada 7,927.54, FBM70 melonjak 33.89 mata kepada 8,048.95 dan FBM ACE Index mengembang 46.53 mata kepada 4,023.91.
Indeks Teknologi naik 0.08 mata kepada 16.36, Indeks Kewangan lebih tinggi 39.57 mata kepada 9,974.11, Indeks Perladangan menambah 0.99 mata kepada 5,910.13 dan Indeks Perusahaan menokok 3.13 mata kepada 2,648.42.
Saham untung mengatasi saham rugi dengan 369 berbalas 239 sementara 265 kaunter tidak berubah dan 385 tidak diniagakan.
Jumlah dagangan mengukuh kepada 594.587 juta saham bernilai RM720.739 juta daripada 454.117 juta saham bernilai RM605.403 juta, kelmarin.
Mendahului saham yang untung termasuklah British American Tobacco, yang menambah 34 sen kepada RM44.94, HAIO naik 27 sen kepada RM5.69 dan KFC meningkat 20 sen kepada RM7.60.
Antara yang aktif, KNM kekal pada 76 sen sementara Land & General melonjak 3.5 sen kepada 41.5 sen dan TA Enterprise menokok sembilan sen kepada RM1.48.
Bagi saham berwajaran tinggi, Sime Darby menambah satu sen kepada RM8.53 sementara IOI Corp susut tiga sen kepada RM5.20.
PPB mengukuh dua sen kepada RM15.94 dan KLK naik 10 sen kepada RM13.88 manakala MISC susut 10 sen kepada RM8.90.
Maybank dan Tenaga Nasional, masing-masing meningkat tiga sen kepada RM6.68 dan RM8.21 sementara CIMB Group mengembang empat sen kepada RM11.14 dan DiGi lebih tinggi 20 sen kepada RM21.50.
Di Pasaran Utama, jumlah dagangan melonjak kepada 527.654 juta saham bernilai RM795.882 juta daripada 416.577 juta saham bernilai RM595.463 juta kelmarin.
Jumlah dagangan di Pasaran ACE pula menambah kepada 43.906 juta saham bernilai RM8.038 juta daripada 20.852 juta saham bernilai RM5.445 juta sementara waran pula menokok kepada 16.615 juta unit bernilai RM3.918 juta daripada 14.104 juta unit bernilai RM3.367 juta.
Produk pengguna menguasai 41.268 juta saham yang diniagakan di Pasaran Utama, produk perusahaan 131.777 juta, pembinaan 30.424 juta, urus niaga dan perkhidmatan 171.991 juta, teknologi 15.056 juta, infrastruktur 5.819 juta, kewangan 48.533 juta, perhotelan 2.197 juta, hartanah 71.19 juta, perladangan 7.788 juta, perlombongan 10,000, REIT 1.556 juta dan dana tertutup 40,000. - Bernama
Ringgit declines against greenback
RINGGIT
THE ringgit closed lower against the greenback yesterday due to month-end related US dollar demand, dealers said.
At 5pm, the ringgit declined to 3.4810/4850 against the greenback from 3.4780/4820 at Monday's closing.
The dealers said bidding interest from foreign banks and month-end corporate interest provided support for the US dollar.
"A positive catalyst for the ringgit is still far-off, with the flow for now, skewed towards US dollar bids," a dealer said.
The dealer also said the ringgit is likely to decline further due to a comment by the European Central Bank president, that the commitment of US policy makers to a strong US dollar, is important in keeping currency markets and the global economy stable.
Compared with the Singapore dollar, the local unit declined to 2.4554/4599 from 2.4471/4533 but rose against the Japanese yen to 3.8786/8852 from 3.8886/8944.
The ringgit appreciated against the British pound to 5.5219/5303 from 5.5318/5399 as well as against the euro to 5.0781/0857 from 5.0869/0938.
INTERBANK RATES
SHORT-TERM rates closed steady yesterday as Bank Negara Malaysia intervened in the money market to absorb surplus funds, dealers said.
The overnight rate was fixed at 1.92 per cent while the one-week, two-week and three-week rates were at 1.95, 1.97 and 1.99 per cent respectively.
Total liquidity in the conventional system was reduced to RM20.23 billion from an earlier estimate of RM26.61 billion, while Islamic funds dropped to RM7.35 billion from an earlier estimate of RM9.69 billion.
Bank Negara carried out four conventional and four Al-Wadiah tenders as well as a repo tender and two commodity murabahah tenders this morning. The central bank later issued a conventional tender for RM20.20 billion of one-day money and an Al-Wadiah tender for RM7.3 billion of one-day money.
KLIBOR
THE three-month Kuala Lumpur Interbank Offered Rate (Klibor) futures on Bursa Malaysia Derivatives closed untraded yesterday, with all contracts remaining at Monday's settlement prices.
October 2009, November 2009, December 2009 and March 2010 were unchanged at 97.81, 97.80, 97.80 and 97.63 respectively.
The underlying three-month Klibor was fixed at 2.14 per cent.
The five-year Malaysian Government Securities (MGS) futures were also untraded. - Bernama
THE ringgit closed lower against the greenback yesterday due to month-end related US dollar demand, dealers said.
At 5pm, the ringgit declined to 3.4810/4850 against the greenback from 3.4780/4820 at Monday's closing.
The dealers said bidding interest from foreign banks and month-end corporate interest provided support for the US dollar.
"A positive catalyst for the ringgit is still far-off, with the flow for now, skewed towards US dollar bids," a dealer said.
The dealer also said the ringgit is likely to decline further due to a comment by the European Central Bank president, that the commitment of US policy makers to a strong US dollar, is important in keeping currency markets and the global economy stable.
Compared with the Singapore dollar, the local unit declined to 2.4554/4599 from 2.4471/4533 but rose against the Japanese yen to 3.8786/8852 from 3.8886/8944.
The ringgit appreciated against the British pound to 5.5219/5303 from 5.5318/5399 as well as against the euro to 5.0781/0857 from 5.0869/0938.
INTERBANK RATES
SHORT-TERM rates closed steady yesterday as Bank Negara Malaysia intervened in the money market to absorb surplus funds, dealers said.
The overnight rate was fixed at 1.92 per cent while the one-week, two-week and three-week rates were at 1.95, 1.97 and 1.99 per cent respectively.
Total liquidity in the conventional system was reduced to RM20.23 billion from an earlier estimate of RM26.61 billion, while Islamic funds dropped to RM7.35 billion from an earlier estimate of RM9.69 billion.
Bank Negara carried out four conventional and four Al-Wadiah tenders as well as a repo tender and two commodity murabahah tenders this morning. The central bank later issued a conventional tender for RM20.20 billion of one-day money and an Al-Wadiah tender for RM7.3 billion of one-day money.
KLIBOR
THE three-month Kuala Lumpur Interbank Offered Rate (Klibor) futures on Bursa Malaysia Derivatives closed untraded yesterday, with all contracts remaining at Monday's settlement prices.
October 2009, November 2009, December 2009 and March 2010 were unchanged at 97.81, 97.80, 97.80 and 97.63 respectively.
The underlying three-month Klibor was fixed at 2.14 per cent.
The five-year Malaysian Government Securities (MGS) futures were also untraded. - Bernama
Economist: Further liberalisation can draw FDIs
FURTHER liberalisation moves will help bring back foreign investments into Malaysia, an economist at the Forbes Global CEO conference said yesterday.
He said the country's move to liberalise about 27 sub-sectors of the services sector and relax some foreign investment rules, including that of Bumiputra ownership in companies, was a step in the right direction.
"It definitely helps when you start competing on a level playing field with everybody else. In particular, it will put Malaysia back on the map for foreign direct investments," said Jim Walker, the founder and managing director of Asianomics Ltd, an economic research and consultancy company.
Malaysia could also leverage on its competitive advantages such as its quality labour resources.
"Malaysia has very good quality labour resources which is something that is undersold for very many years now," he told reporters after participating as a panellist at a session themed "Game Change: Taking Stock Of A New Landscape".
Walker felt, however, that it may be more difficult to bring back investor interest in the equity market.
He noted that in the past, foreign investors were well invested and interested in Malaysia.
"But now, in my business, which is basically talking to fund managers, I can't remember answering a question on Malaysia in the last two years, which means the country is still far away from the market in terms of investments," he said.
He said the country's move to liberalise about 27 sub-sectors of the services sector and relax some foreign investment rules, including that of Bumiputra ownership in companies, was a step in the right direction.
"It definitely helps when you start competing on a level playing field with everybody else. In particular, it will put Malaysia back on the map for foreign direct investments," said Jim Walker, the founder and managing director of Asianomics Ltd, an economic research and consultancy company.
Malaysia could also leverage on its competitive advantages such as its quality labour resources.
"Malaysia has very good quality labour resources which is something that is undersold for very many years now," he told reporters after participating as a panellist at a session themed "Game Change: Taking Stock Of A New Landscape".
Walker felt, however, that it may be more difficult to bring back investor interest in the equity market.
He noted that in the past, foreign investors were well invested and interested in Malaysia.
"But now, in my business, which is basically talking to fund managers, I can't remember answering a question on Malaysia in the last two years, which means the country is still far away from the market in terms of investments," he said.
Malaysia GDP growth forecast likely to be raised
MALAYSIA is likely to revise upwards its economic growth forecast for this year at the upcoming national budget, Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz said.
"We expect that it would be an improved outcome compared with the earlier projection," she told reporters on the sidelines of the Forbes Global CEO conference in Kuala Lumpur yesterday.
The government's current projection is for an economic contraction of between 4 per cent and 5 per cent.
"Fiscal stimulus and aggressive financing are two critical elements supporting the recovery that we are seeing," she said, adding that she is confident that economic growth would turn positive in the fourth quarter.
The country's gross domestic product contracted at a slower pace of 3.9 per cent in the second quarter of this year compared with a 6.2 per cent contraction in the first quarter.
Meanwhile, inflation is also seen improving, and is likely to come in at between 1 per cent and 2 per cent later in the year, Zeti said.
Malaysia's current interest rate level is supportive of growth, she added.
"We're not a central bank that adopts an inflation-targetting framework. We had predicted that inflation would decline during the course of this year and we have been validated. Temporarily it (inflation) is negative ... and we expect, going later into this year, that inflation will be in the region of 1 per cent to 2 per cent," she said.
"We expect that it would be an improved outcome compared with the earlier projection," she told reporters on the sidelines of the Forbes Global CEO conference in Kuala Lumpur yesterday.
The government's current projection is for an economic contraction of between 4 per cent and 5 per cent.
"Fiscal stimulus and aggressive financing are two critical elements supporting the recovery that we are seeing," she said, adding that she is confident that economic growth would turn positive in the fourth quarter.
The country's gross domestic product contracted at a slower pace of 3.9 per cent in the second quarter of this year compared with a 6.2 per cent contraction in the first quarter.
Meanwhile, inflation is also seen improving, and is likely to come in at between 1 per cent and 2 per cent later in the year, Zeti said.
Malaysia's current interest rate level is supportive of growth, she added.
"We're not a central bank that adopts an inflation-targetting framework. We had predicted that inflation would decline during the course of this year and we have been validated. Temporarily it (inflation) is negative ... and we expect, going later into this year, that inflation will be in the region of 1 per cent to 2 per cent," she said.
Najib to announce major Mideast investment in Malaysia today
Written by Ellina Badr
Wednesday, 30 September 2009 00:03
KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak said on Sept 29 he will make a "major announcement" on a Middle East investment in Malaysia today, as the country tries to bring in foreign capital amid this year's nosedive in foreign direct investment.
"FDIs were at an all-time high in 2008, with 73.4% of a total US$18.1 billion (RM63 billion) manufacturing project investments approved made up of foreign investments.
"But FDIs have nosedived this year, so we are trying to attract capital from capital surplus countries, like the Middle East," Najib, who is also Finance Minister, said at the Forbes CEO conference here last night.
He added that on his recent break to the south of France, he had struck relationships with Middle Eastern investors, who frequented the holiday destination.
"It's all about building relationships," Najib said in a dialogue session with Forbes chairman and CEO, and editor-in-chief of Forbes magazine, Steve Forbes.
Asked by Forbes to reveal the identity of the Middle East investor, Najib said even his cabinet had not been informed of it yet.
Najib said Malaysia was also very keen on attracting investments from India, China, and its traditional Western trading partners as well.
On the government's plans to transform the economy into a high-income model, he said industries like pharmaceuticals, aerospace and renewable energy would "fit in" the new model that would have customisable incentives.
On the various economic regions, Najib said on the Iskandar region in particular, the government was currently discussing with Singapore, with the Singaporean prime minister having agreed in principle, for the two countries to collaborate on an iconic investment in Johor.
He said the "free and easy" movement of people, goods and services between Singapore and Malaysia would make Iskandar "really boom".
He also said the country's medical tourism industry here lacked specialists and it was key to train and bring back home Malaysian specialists who were practising overseas.
Najib also said the government was approving the establishment of two mega Islamic banks here, each with a paid-up capital of US$1 billion.
Commenting on the government's approval of two aluminium smelters in Sarawak, he said the government did not mind either way if the smelters decided to merge or operate separately.
Meanwhile, on free trade and regional cooperation, Najib said the country was still "quite keen" to complete a free trade agreement with the US, but sensed that the Obama administration was not ready to indicate its position on the matter.
Wednesday, 30 September 2009 00:03
KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak said on Sept 29 he will make a "major announcement" on a Middle East investment in Malaysia today, as the country tries to bring in foreign capital amid this year's nosedive in foreign direct investment.
"FDIs were at an all-time high in 2008, with 73.4% of a total US$18.1 billion (RM63 billion) manufacturing project investments approved made up of foreign investments.
"But FDIs have nosedived this year, so we are trying to attract capital from capital surplus countries, like the Middle East," Najib, who is also Finance Minister, said at the Forbes CEO conference here last night.
He added that on his recent break to the south of France, he had struck relationships with Middle Eastern investors, who frequented the holiday destination.
"It's all about building relationships," Najib said in a dialogue session with Forbes chairman and CEO, and editor-in-chief of Forbes magazine, Steve Forbes.
Asked by Forbes to reveal the identity of the Middle East investor, Najib said even his cabinet had not been informed of it yet.
Najib said Malaysia was also very keen on attracting investments from India, China, and its traditional Western trading partners as well.
On the government's plans to transform the economy into a high-income model, he said industries like pharmaceuticals, aerospace and renewable energy would "fit in" the new model that would have customisable incentives.
On the various economic regions, Najib said on the Iskandar region in particular, the government was currently discussing with Singapore, with the Singaporean prime minister having agreed in principle, for the two countries to collaborate on an iconic investment in Johor.
He said the "free and easy" movement of people, goods and services between Singapore and Malaysia would make Iskandar "really boom".
He also said the country's medical tourism industry here lacked specialists and it was key to train and bring back home Malaysian specialists who were practising overseas.
Najib also said the government was approving the establishment of two mega Islamic banks here, each with a paid-up capital of US$1 billion.
Commenting on the government's approval of two aluminium smelters in Sarawak, he said the government did not mind either way if the smelters decided to merge or operate separately.
Meanwhile, on free trade and regional cooperation, Najib said the country was still "quite keen" to complete a free trade agreement with the US, but sensed that the Obama administration was not ready to indicate its position on the matter.
Drop in consumer confidence weighs on Wall Street
Written by Agencies
Wednesday, 30 September 2009 07:44
NEW YORK: US stocks closed lower on Tuesday, Sept 28 after a surprise drop in consumer confidence weighed on investors' sentiment,according to wire reports.
The Dow Jones industrials fell 47.16 points, or 0.5%, to 9,742.20, giving up about a third of Monday's 124-point gain. The S&P 500 index slipped 2.38 points, or 0.2% to 1,060.60, and the Nasdaq composite index fell 6.70 points, or 0.3%, to 2,124.04.
Stocks slid after the Conference Board said its consumer confidence index fell in September. Economists had been expecting a reading of 57; instead it came in at 53.1.
Despite the decline, the major indexes are likely to end September and the third quarter of 2009 with gains. Historically, September is the worst month of the year for stocks.
US consumers are still worried about losing their jobs. Many analysts warn a turnaround in the economy won't hold if consumers don't start picking up spending and employers add jobs.
The report offset early enthusiasm over an increase in home prices.
Stocks broke a three-day losing streak on Monday after news of several big acquisitions signaled to investors that corporate America is feeling more confident about the economy and willing to take on more risk through mergers and acquisitions.
"You had these M&A deals make people feel better about growth prospects and valuations," said Nick Kalivas, vice president of financial research and senior equity index analyst at MF Global. "We don't have any follow-through M&A today and the market really lacks a forward catalyst."
With economic reports still mixed, some investors are hesitant to keep buying and extend the market's nearly seven-month advance, or at least keep it going at the same fervid pace. The benchmark Standard & Poor's 500 index has gained 56.8% since hitting a 12-year low in March. - Agencies
Wednesday, 30 September 2009 07:44
NEW YORK: US stocks closed lower on Tuesday, Sept 28 after a surprise drop in consumer confidence weighed on investors' sentiment,according to wire reports.
The Dow Jones industrials fell 47.16 points, or 0.5%, to 9,742.20, giving up about a third of Monday's 124-point gain. The S&P 500 index slipped 2.38 points, or 0.2% to 1,060.60, and the Nasdaq composite index fell 6.70 points, or 0.3%, to 2,124.04.
Stocks slid after the Conference Board said its consumer confidence index fell in September. Economists had been expecting a reading of 57; instead it came in at 53.1.
Despite the decline, the major indexes are likely to end September and the third quarter of 2009 with gains. Historically, September is the worst month of the year for stocks.
US consumers are still worried about losing their jobs. Many analysts warn a turnaround in the economy won't hold if consumers don't start picking up spending and employers add jobs.
The report offset early enthusiasm over an increase in home prices.
Stocks broke a three-day losing streak on Monday after news of several big acquisitions signaled to investors that corporate America is feeling more confident about the economy and willing to take on more risk through mergers and acquisitions.
"You had these M&A deals make people feel better about growth prospects and valuations," said Nick Kalivas, vice president of financial research and senior equity index analyst at MF Global. "We don't have any follow-through M&A today and the market really lacks a forward catalyst."
With economic reports still mixed, some investors are hesitant to keep buying and extend the market's nearly seven-month advance, or at least keep it going at the same fervid pace. The benchmark Standard & Poor's 500 index has gained 56.8% since hitting a 12-year low in March. - Agencies
Stocks to watch: BCorp, Gamuda, Sunway Holdings, Ramunia
Written by Loong Tse Min
Wednesday, 30 September 2009 08:02
KUALA LUMPUR: Malaysian investors will have to look at the domestic front for leads on Wednesday, Sept 30 after the disappointing close on Wall Street where the surprise drop in consumer confidence pushed the key indices into the red.
The Dow Jones industrials fell 0.5%, to 9,742.20, giving up about a third of Monday's 124-point gain. The S&P 500 index slipped 0.2% to 1,060.60 and the Nasdaq composite index fell 0.3% to 2,124.04.
US stocks slid after the Conference Board said its consumer confidence index fell in September. Economists had been expecting a reading of 57; instead it came in at 53.1.
At the home front, there is a lot of fresh news for investors to ponder upon. For one, Prime Minister Datuk Seri Najib Razak will make a "major announcement" on a Middle East investment in Malaysia today, as the country tries to bring in foreign capital amid this year's nosedive in foreign direct investment.
"FDIs were at an all-time high in 2008, with 73.4% of a total US$18.1 billion (RM63 billion) manufacturing project investments approved made up of foreign investments.
Stocks to watch include Berjaya Corp, Sime Darby, Ramunia, Gamuda and Sunway Holdings.
BCorp proposed a corporate exercise involving the injection of two units - Singer(M) Sdn Bhd and 7-Eleven Malaysia Sdn Bhd - under a new holding company Berjaya Retail Bhd (B-Retail) which will then be listed. BCorp would spin off Singer to B-retail which would then acquire 7-Eleven for RM600 million.
Sime Darby announced a plan for RM4.5 billion Islamic debt notes to finance its working capital requirements and also future investments and if required, refinance debt obligations.
Sime Darby is taking over Ramunia, which net loss narrowed to RM25.59 million in the third quarter (3Q) ended July 31, 2009 from a net loss of RM215.21 million in 3Q08. Ramunia attributed the loss to diminishing order book and lower project margins to cover expenses.
GAMUDA BHD []'s net profit fell 38.3% to RM43.29 million in the fourth quarter ended July 31 compared with RM70.2 million a year ago due to sharply higher operating expenses.
Gamuda said on Tuesday, Sept 29 that revenue however rose 10.68% to RM942.24 million from RM851.3 million. Earnings per share were 2.16 sen compared with 3.50 sen.
CONSTRUCTION [] player Sunway Holdings' unit Sunway Construction Sdn Bhd secured a RM147.36 million construction project from Putrajaya Holdings Sdn Bhd for a 16-storey, three-star hotel and an 11-storey office tower.
Corrugated cardboard maker and resort property developer, KYM Holdings has reduced the par value of its shares to 50 sen per share from RM1 per share effective Sept 29.
The company had hit the headlines in June for the sale of a 16.5 ha site in Manjung, Perak to Brazil's Vale International SA - a global mining giant. KYM is planning to use the proceeds of RM40.6 million from the par value reduction to create a reserve for the issuance warrants and for the setting off and elimination of accumulated losses.
Chinese-language newspaper publisher, MCIL has announced that national pension fund, Employees Provident Fund Board has on Sept 18 acquired 84.7 million shares or 5.03% in the stock.
Wednesday, 30 September 2009 08:02
KUALA LUMPUR: Malaysian investors will have to look at the domestic front for leads on Wednesday, Sept 30 after the disappointing close on Wall Street where the surprise drop in consumer confidence pushed the key indices into the red.
The Dow Jones industrials fell 0.5%, to 9,742.20, giving up about a third of Monday's 124-point gain. The S&P 500 index slipped 0.2% to 1,060.60 and the Nasdaq composite index fell 0.3% to 2,124.04.
US stocks slid after the Conference Board said its consumer confidence index fell in September. Economists had been expecting a reading of 57; instead it came in at 53.1.
At the home front, there is a lot of fresh news for investors to ponder upon. For one, Prime Minister Datuk Seri Najib Razak will make a "major announcement" on a Middle East investment in Malaysia today, as the country tries to bring in foreign capital amid this year's nosedive in foreign direct investment.
"FDIs were at an all-time high in 2008, with 73.4% of a total US$18.1 billion (RM63 billion) manufacturing project investments approved made up of foreign investments.
Stocks to watch include Berjaya Corp, Sime Darby, Ramunia, Gamuda and Sunway Holdings.
BCorp proposed a corporate exercise involving the injection of two units - Singer(M) Sdn Bhd and 7-Eleven Malaysia Sdn Bhd - under a new holding company Berjaya Retail Bhd (B-Retail) which will then be listed. BCorp would spin off Singer to B-retail which would then acquire 7-Eleven for RM600 million.
Sime Darby announced a plan for RM4.5 billion Islamic debt notes to finance its working capital requirements and also future investments and if required, refinance debt obligations.
Sime Darby is taking over Ramunia, which net loss narrowed to RM25.59 million in the third quarter (3Q) ended July 31, 2009 from a net loss of RM215.21 million in 3Q08. Ramunia attributed the loss to diminishing order book and lower project margins to cover expenses.
GAMUDA BHD []'s net profit fell 38.3% to RM43.29 million in the fourth quarter ended July 31 compared with RM70.2 million a year ago due to sharply higher operating expenses.
Gamuda said on Tuesday, Sept 29 that revenue however rose 10.68% to RM942.24 million from RM851.3 million. Earnings per share were 2.16 sen compared with 3.50 sen.
CONSTRUCTION [] player Sunway Holdings' unit Sunway Construction Sdn Bhd secured a RM147.36 million construction project from Putrajaya Holdings Sdn Bhd for a 16-storey, three-star hotel and an 11-storey office tower.
Corrugated cardboard maker and resort property developer, KYM Holdings has reduced the par value of its shares to 50 sen per share from RM1 per share effective Sept 29.
The company had hit the headlines in June for the sale of a 16.5 ha site in Manjung, Perak to Brazil's Vale International SA - a global mining giant. KYM is planning to use the proceeds of RM40.6 million from the par value reduction to create a reserve for the issuance warrants and for the setting off and elimination of accumulated losses.
Chinese-language newspaper publisher, MCIL has announced that national pension fund, Employees Provident Fund Board has on Sept 18 acquired 84.7 million shares or 5.03% in the stock.
September 29, 2009
KL shares end higher
Published: 2009/09/29
SHARE prices on Bursa Malaysia ended firmer today on bargain hunting in line with regional trends, dealers said.
They said the regional sentiment was up following a rebound in the US market sparked by news of several corporate takeovers.
At the close, the FTSE Bursa Malaysia Kuala Lumpur Composite Index rose 2.26 points to 1,208.21 after opening 2.42 points higher at 1,208.37.
"The buying today picked up dramatically over the news from the US and was in line with regional markets," said TA Securities analyst Stephen Soo.
He expected the support level to be at 1,200 while resistance at 1,220.
The FBMEmas gained 19.66 points to 8,137.72, the FBM Top 100 increased 18.62 points to 7,927.54, the FBM70 jumped 33.89 points to 8,048.95 and the FBM ACE Index advanced 46.53 points to 4,023.91.
The Technology Index edged up 0.08 of a point to 16.36, the Finance Index went up 39.57 points to 9,974.11, the Plantation Index inched up 0.99 of a point to 5,910.13 and the Industrial Index gained 3.13 points at 2,648.42.
Gainers led losers by 369 to 239 while 265 counters were unchanged and 385 untraded.
Turnover rose to 594.587 million shares worth RM720.739 million from 454.117 million shares worth RM605.403 million yesterday.
Bernama
SHARE prices on Bursa Malaysia ended firmer today on bargain hunting in line with regional trends, dealers said.
They said the regional sentiment was up following a rebound in the US market sparked by news of several corporate takeovers.
At the close, the FTSE Bursa Malaysia Kuala Lumpur Composite Index rose 2.26 points to 1,208.21 after opening 2.42 points higher at 1,208.37.
"The buying today picked up dramatically over the news from the US and was in line with regional markets," said TA Securities analyst Stephen Soo.
He expected the support level to be at 1,200 while resistance at 1,220.
The FBMEmas gained 19.66 points to 8,137.72, the FBM Top 100 increased 18.62 points to 7,927.54, the FBM70 jumped 33.89 points to 8,048.95 and the FBM ACE Index advanced 46.53 points to 4,023.91.
The Technology Index edged up 0.08 of a point to 16.36, the Finance Index went up 39.57 points to 9,974.11, the Plantation Index inched up 0.99 of a point to 5,910.13 and the Industrial Index gained 3.13 points at 2,648.42.
Gainers led losers by 369 to 239 while 265 counters were unchanged and 385 untraded.
Turnover rose to 594.587 million shares worth RM720.739 million from 454.117 million shares worth RM605.403 million yesterday.
Bernama
Higher local interest in Malaysian property
Published: 2009/09/29
DOMESTIC interest in Malaysian property is now higher compared to that from overseas in contrast to a year ago, an analysis by thinkproperty.my showed.
The property website analysed its visitor traffic data over the last three months and compared it with the status last year.
The data is pertinent because in 2008, 82.7 per cent of visitors were from Malaysia, while in 2009, that proportion rose to 85.2 per cent.
Over 80 per cent of the visitors were interested in buying or renting property in Malaysia, Thinkproperty.my said in a statement today.
While there was increased interest from Malaysian property buyers, it was less among those from countries such as Singapore, the United Kingdom, India, Australia, Japan, the United Arab Emirates (UAE) and Pakistan, it said.
Asim Qureshi, the chief executive officer of Think Media Sdn Bhd, the company that owns thinkproperty.my, commented that the data provided mixed signals.
"On one hand, it indicates the confidence of Malaysians in investing in property has increased in contrast to those from overseas.
"This is to be expected because Malaysia’s property market has been stable. The Malaysian experience of seeing property as an investment has also been more positive compared to those of most other countries," he added.
"However, the negative is that we are not seeing as many foreigners interested in Malaysian property," he said.
According to Qureshi, Malaysia is doing a good job of getting the Malaysian story across overseas in marketing itself as the gateway to Asia, the lack of a property gains tax, liberal ownership rules as well as a strong banking sector.
"These are all strong pull factors for the country. However, the weak global economy must be the prime culprit for the lower level of foreign interest this year. There is not much Malaysia can do about it, except wait," he said.
On a positive note, he said, there was some increased interest from China, Vietnam and Thailand, though Hong Kong’s level was unchanged.
"In my view, this should be a hint for both the government which is trying to promote Malaysia’s real estate abroad as well as developers trying to do the same.
"The focus should increasingly be Asia. Asia is leading the world out of recession. Asian investors will likely play an increasingly important role in Malaysia’s property market in future," he highlighted.
Eddie Chen, the head of Marketing of Think Media Sdn Bhd, pointed out that Thinkproperty.my’s absolute visitor figures have risen by 409 per cent from this time last year.
"This is the result of a shift from people searching for property in traditional classifieds to searching online.
"The shift has been dramatic and in my view, it’s merely the tip of the iceberg. We are conservatively expecting traffic to increase at least a further 300 per cent between now and 2010," -- BERNAMA
DOMESTIC interest in Malaysian property is now higher compared to that from overseas in contrast to a year ago, an analysis by thinkproperty.my showed.
The property website analysed its visitor traffic data over the last three months and compared it with the status last year.
The data is pertinent because in 2008, 82.7 per cent of visitors were from Malaysia, while in 2009, that proportion rose to 85.2 per cent.
Over 80 per cent of the visitors were interested in buying or renting property in Malaysia, Thinkproperty.my said in a statement today.
While there was increased interest from Malaysian property buyers, it was less among those from countries such as Singapore, the United Kingdom, India, Australia, Japan, the United Arab Emirates (UAE) and Pakistan, it said.
Asim Qureshi, the chief executive officer of Think Media Sdn Bhd, the company that owns thinkproperty.my, commented that the data provided mixed signals.
"On one hand, it indicates the confidence of Malaysians in investing in property has increased in contrast to those from overseas.
"This is to be expected because Malaysia’s property market has been stable. The Malaysian experience of seeing property as an investment has also been more positive compared to those of most other countries," he added.
"However, the negative is that we are not seeing as many foreigners interested in Malaysian property," he said.
According to Qureshi, Malaysia is doing a good job of getting the Malaysian story across overseas in marketing itself as the gateway to Asia, the lack of a property gains tax, liberal ownership rules as well as a strong banking sector.
"These are all strong pull factors for the country. However, the weak global economy must be the prime culprit for the lower level of foreign interest this year. There is not much Malaysia can do about it, except wait," he said.
On a positive note, he said, there was some increased interest from China, Vietnam and Thailand, though Hong Kong’s level was unchanged.
"In my view, this should be a hint for both the government which is trying to promote Malaysia’s real estate abroad as well as developers trying to do the same.
"The focus should increasingly be Asia. Asia is leading the world out of recession. Asian investors will likely play an increasingly important role in Malaysia’s property market in future," he highlighted.
Eddie Chen, the head of Marketing of Think Media Sdn Bhd, pointed out that Thinkproperty.my’s absolute visitor figures have risen by 409 per cent from this time last year.
"This is the result of a shift from people searching for property in traditional classifieds to searching online.
"The shift has been dramatic and in my view, it’s merely the tip of the iceberg. We are conservatively expecting traffic to increase at least a further 300 per cent between now and 2010," -- BERNAMA
'Liberalisation will draw back investors'
Published: 2009/09/29
MALAYSIA can return to the radar of foreign investors with further liberalisation moves and by leveraging on its competitive advantages, says an economist.
Dr Jim Walker, the founder and managing director of Asianomics Ltd, an economic research and consultancy company said the recent liberalisation moves by the Malaysian government had certainly sped up the process.
"It is a good move that will certainly help bring foreign investment back into the market," he told reporters after a session at the Ninth Forbes Global CEO Conference in Kuala Lumpur today.
Earlier this year, Malaysia liberalised about 27 sub-sectors in services while relaxing some foreign investment rules.
Walker, who has been actively involved in surveys of fund managers in Asia, was a panellist at a session, "Game Change: Taking Stock Of A New Landscape".
The session largely touched on changes around the world, created by the global economic crisis.
He said Malaysia needs to enhance its playing field by leveraging on competitive advantages such as good quality labour resources as well as its expertise in high technology manufacturing and semi-conductors.
"If you look back, Malaysia used to be the second biggest equity market in Asia and foreign investors heavily invested in various areas of interest.
"But, I can't remember people asking about Malaysia for the past two years, which means the country is still far away from the market in terms of investments," he explained.
He was responding to a question on how Malaysia had fared in terms of the government or central bank intervening in handling the financial crisis.
Walker also said it would be tough for Bank Negara to actually offset the entire impact of the global crisis but what it could do is absorb it as best possible, together with other regional central banks.
"Malaysia is a very open economy, so the external environment is extremely important," he added. - Bernama
MALAYSIA can return to the radar of foreign investors with further liberalisation moves and by leveraging on its competitive advantages, says an economist.
Dr Jim Walker, the founder and managing director of Asianomics Ltd, an economic research and consultancy company said the recent liberalisation moves by the Malaysian government had certainly sped up the process.
"It is a good move that will certainly help bring foreign investment back into the market," he told reporters after a session at the Ninth Forbes Global CEO Conference in Kuala Lumpur today.
Earlier this year, Malaysia liberalised about 27 sub-sectors in services while relaxing some foreign investment rules.
Walker, who has been actively involved in surveys of fund managers in Asia, was a panellist at a session, "Game Change: Taking Stock Of A New Landscape".
The session largely touched on changes around the world, created by the global economic crisis.
He said Malaysia needs to enhance its playing field by leveraging on competitive advantages such as good quality labour resources as well as its expertise in high technology manufacturing and semi-conductors.
"If you look back, Malaysia used to be the second biggest equity market in Asia and foreign investors heavily invested in various areas of interest.
"But, I can't remember people asking about Malaysia for the past two years, which means the country is still far away from the market in terms of investments," he explained.
He was responding to a question on how Malaysia had fared in terms of the government or central bank intervening in handling the financial crisis.
Walker also said it would be tough for Bank Negara to actually offset the entire impact of the global crisis but what it could do is absorb it as best possible, together with other regional central banks.
"Malaysia is a very open economy, so the external environment is extremely important," he added. - Bernama
CIMB to start retail banking in Singapore
Published: 2009/09/29
SINGAPORE: Malaysia’s second-biggest bank CIMB is launching retail banking business in Singapore on Tuesday and plans to hire an additional 110 bankers in the city-state before the end of 2009.
“We’ll be aggressively pursuing a recruitment agenda. We expect to be recruiting an additional 110 professionals before the end of the year,” said Mak Lye Mun, CEO CIMB Bank in Singapore said in a statement.
Currently, CIMB Group has a staff of about 1,000 in Singapore.
REUTERS
SINGAPORE: Malaysia’s second-biggest bank CIMB is launching retail banking business in Singapore on Tuesday and plans to hire an additional 110 bankers in the city-state before the end of 2009.
“We’ll be aggressively pursuing a recruitment agenda. We expect to be recruiting an additional 110 professionals before the end of the year,” said Mak Lye Mun, CEO CIMB Bank in Singapore said in a statement.
Currently, CIMB Group has a staff of about 1,000 in Singapore.
REUTERS
diary What to expect on Sept 30, 2009
Tags: diary
Written by The Edge Financial Daily
Tuesday, 29 September 2009 20:20
1. Frost & Sullivan organises seminar on Thailand & Asean co-operation in automotive, auto parts & accessories at Training Room 5, Level 7, Sheraton Imperial Hotel, KL at 8.30am
2. Forbes Global CEO Conference "Game Change" at Grand Ballroom, Basement II, Shangri-La Hotel at 8.45am
3. Iskandar Investment Bhd to hold media briefing at the Forbes CEO at Lemon Garden Café, Lobby Level, Shangri La Hotel, KL at 9am
4. Media briefing by Lawrence Yong, director, trade & supply chain, HSBC Bank Malaysia Bhd on the Malaysian results of the HSBC Trade Confidence Index at Executive Suite, HSBC Bank Malaysia Bhd, 18th Floor, Bangunan HSBC, Leboh Ampang, KL at 9.45am
5. Maybank AGM at Sime Darby Convention Centre, KL at 10am
6. Launch of Maxis Hotlink Brand Refresh at Monte's Restaurant, Level 1, Bangsar Shopping Centre, KL at 10am
7. GLOMAC BHD [] AGM at Multi-Purpose Hall, Ground Floor Podium, Block D, Kompleks Kelana Centre Point, Jalan SS 7/19, Kelana Jaya, PJ, Selangor at 10am
8. TMC LIFE SCIENCES BHD [] holds the grand official opening of Tropicana Medical Centre by HRH The Sultan of Selangor at Ballroom, 7th Floor, Tropicana Medical Centre, No 11 Jln Teknologi, Taman Sains Selangor 1, PJU 5, Kota Damansara, PJ, Selangor at 10.15am
Written by The Edge Financial Daily
Tuesday, 29 September 2009 20:20
1. Frost & Sullivan organises seminar on Thailand & Asean co-operation in automotive, auto parts & accessories at Training Room 5, Level 7, Sheraton Imperial Hotel, KL at 8.30am
2. Forbes Global CEO Conference "Game Change" at Grand Ballroom, Basement II, Shangri-La Hotel at 8.45am
3. Iskandar Investment Bhd to hold media briefing at the Forbes CEO at Lemon Garden Café, Lobby Level, Shangri La Hotel, KL at 9am
4. Media briefing by Lawrence Yong, director, trade & supply chain, HSBC Bank Malaysia Bhd on the Malaysian results of the HSBC Trade Confidence Index at Executive Suite, HSBC Bank Malaysia Bhd, 18th Floor, Bangunan HSBC, Leboh Ampang, KL at 9.45am
5. Maybank AGM at Sime Darby Convention Centre, KL at 10am
6. Launch of Maxis Hotlink Brand Refresh at Monte's Restaurant, Level 1, Bangsar Shopping Centre, KL at 10am
7. GLOMAC BHD [] AGM at Multi-Purpose Hall, Ground Floor Podium, Block D, Kompleks Kelana Centre Point, Jalan SS 7/19, Kelana Jaya, PJ, Selangor at 10am
8. TMC LIFE SCIENCES BHD [] holds the grand official opening of Tropicana Medical Centre by HRH The Sultan of Selangor at Ballroom, 7th Floor, Tropicana Medical Centre, No 11 Jln Teknologi, Taman Sains Selangor 1, PJU 5, Kota Damansara, PJ, Selangor at 10.15am
CPO drops the most since June
Tags: CPO | Dalian | December delivery | Dorab Mistry | Godrej International Ltd | Malaysia Derivatives Exchange | Malaysian Palm Oil Board | UOB Kay Hian
Written by Claire Leow
Tuesday, 29 September 2009 11:31
SINGAPORE: Crude palm oil (CPO) tumbled the most in more than three months after a leading industry buyer said prices must slump 13% from current levels to stoke demand for food and fuel applications and as crude oil fell.
The commodity needs to decline to RM1,900 a tonne for demand to rebound, Dorab Mistry, director of Godrej International Ltd, said in Mumbai last Sunday.
Godrej is one of the biggest buyers of palm oil in India, the second-largest consumer of edible oils.
“Prices need to become more competitive if biodiesel usage is to expand,” Mistry, who has traded edible oils for three decades, said at a conference.
CPO for December delivery in Malaysia, the second-biggest producer, dropped 3.8% to RM2,103 a tonne on the Malaysia Derivatives Exchange. That was the biggest drop since June 22.
Prices of the tropical commodity, which competes directly with soybean oil for use in cooking and biodiesel, have climbed 24% this year on concern there may be a global oilseed shortage. Higher crude oil prices and speculation the global economy was recovering also boosted futures.
Crude oil slipped to less than US$66 (RM229.68) a barrel in New York yesterday as declines in Asian equities raised concern a recovery in fuel demand may stall.
November-delivery crude oil, which slumped 8.9% last week, dropped as much as 0.9% to US$65.41 a barrel in Singapore. It was 0.5% lower at US$65.69 at 6.29pm Singapore time.
CPO traded in Dalian, China for May delivery dropped 1.5% to 5,730 yuan (RM2,919.72) a tonne, a sixth day of decline. China is the world’s largest consumer of edible oils.
“We concur with Dorab’s expectations for weaker crude palm oil prices till end-2009,” a UOB Kay Hian research report said yesterday.
“We expect the weak price trend to continue into March or April 2010” as supply improves during the seasonally weakest quarter for demand in the first quarter, it added.
The outlook for CPO was based on an assumption that crude oil will trade at between US$65 and US$80 a barrel until the spring of 2010, Mistry said. He correctly predicted on Aug 4 that CPO would drop to RM2,100 a tonne as inventories expanded on increased production.
Malaysia’s palm oil production gained 0.2% in August on- month to 1.49 million tonnes, the highest level since a record set in November last year, according to the Malaysian Palm Oil Board on Sept 10.
That helped lift stockpiles to a six-month high of 1.42 million tonnes, as exports fell for the first time in four months.
Still, CPO may reach US$1,000 a tonne if a global economic recovery pushes crude oil up to US$95 a barrel, James Fry, managing director of LMC International Ltd, which tracks the world’s main oilseeds, said at the same conference.
“Biofuels have created a link between mineral and vegetable oil prices,” Fry said. — Bloomberg
This article appeared in The Edge Financial Daily, September 29, 2009.
Written by Claire Leow
Tuesday, 29 September 2009 11:31
SINGAPORE: Crude palm oil (CPO) tumbled the most in more than three months after a leading industry buyer said prices must slump 13% from current levels to stoke demand for food and fuel applications and as crude oil fell.
The commodity needs to decline to RM1,900 a tonne for demand to rebound, Dorab Mistry, director of Godrej International Ltd, said in Mumbai last Sunday.
Godrej is one of the biggest buyers of palm oil in India, the second-largest consumer of edible oils.
“Prices need to become more competitive if biodiesel usage is to expand,” Mistry, who has traded edible oils for three decades, said at a conference.
CPO for December delivery in Malaysia, the second-biggest producer, dropped 3.8% to RM2,103 a tonne on the Malaysia Derivatives Exchange. That was the biggest drop since June 22.
Prices of the tropical commodity, which competes directly with soybean oil for use in cooking and biodiesel, have climbed 24% this year on concern there may be a global oilseed shortage. Higher crude oil prices and speculation the global economy was recovering also boosted futures.
Crude oil slipped to less than US$66 (RM229.68) a barrel in New York yesterday as declines in Asian equities raised concern a recovery in fuel demand may stall.
November-delivery crude oil, which slumped 8.9% last week, dropped as much as 0.9% to US$65.41 a barrel in Singapore. It was 0.5% lower at US$65.69 at 6.29pm Singapore time.
CPO traded in Dalian, China for May delivery dropped 1.5% to 5,730 yuan (RM2,919.72) a tonne, a sixth day of decline. China is the world’s largest consumer of edible oils.
“We concur with Dorab’s expectations for weaker crude palm oil prices till end-2009,” a UOB Kay Hian research report said yesterday.
“We expect the weak price trend to continue into March or April 2010” as supply improves during the seasonally weakest quarter for demand in the first quarter, it added.
The outlook for CPO was based on an assumption that crude oil will trade at between US$65 and US$80 a barrel until the spring of 2010, Mistry said. He correctly predicted on Aug 4 that CPO would drop to RM2,100 a tonne as inventories expanded on increased production.
Malaysia’s palm oil production gained 0.2% in August on- month to 1.49 million tonnes, the highest level since a record set in November last year, according to the Malaysian Palm Oil Board on Sept 10.
That helped lift stockpiles to a six-month high of 1.42 million tonnes, as exports fell for the first time in four months.
Still, CPO may reach US$1,000 a tonne if a global economic recovery pushes crude oil up to US$95 a barrel, James Fry, managing director of LMC International Ltd, which tracks the world’s main oilseeds, said at the same conference.
“Biofuels have created a link between mineral and vegetable oil prices,” Fry said. — Bloomberg
This article appeared in The Edge Financial Daily, September 29, 2009.
Possible weight changes ahead for FBM KLCI
Tags: Astro All Asian Networks plc | CIMB | FBM KLCI | GLCs | Khazanah Nasional Bhd | MAS | Maxis Bhd | PLUS Expressways Bhd | RHB Research Institute | Weightage changes
Written by Financial Daily
Tuesday, 29 September 2009 11:12
KUALA LUMPUR: The FBM KLCI may undergo some weightage changes if four events occur as anticipated — Maxis Bhd is relisted, Khazanah Nasional Bhd pares down stakes in certain government-linked companies (GLCs), PLUS EXPRESSWAYS BHD [] is privatised, and Astro All Asian Networks plc makes a RM1 per share capital repayment, RHB Research Institute said.
The research house said if the Khazanah selldown occurred anytime between now and end-November, the changes would only be reflected after the next half-yearly review in mid-December. Likewise, a capital repayment by Astro (which would also reduce its market capitalisation) would only be reflected at the next half-yearly review.
However, under the FTSE ground rules, any changes caused by a Maxis relisting or PLUS privatisation prior to a half-yearly review would be reflected immediately.
Three years after it was privatised, Maxis is headed for a relisting on Bursa Malaysia, albeit only for its local operations. On its last day as a listed company on June 22, 2007, the stock was the fourth largest by full market capitalisation, ranked just below CIMB (formerly known as BUMIPUTRA-COMMERCE HOLDINGS [] Bhd) and above MISC BHD [] at the time.
“We note that the KLCI component stocks were still selected by full market cap in 2007, before the current free float-based system was implemented on July 6, 2009.
“In any case, as a start we have simplistically assumed that Maxis would have a market cap of RM37.5 billion roughly similar to what it was in 2007 prior to being delisted,” RHB Research said.
It said upon listing, due to its expected free float of 30% (and thus 0.3 time free float factor), Maxis would be added to the FBM KLCI at 10th spot even though it would be the fourth largest stock by full market cap.
RHB Research said MAS as the smallest by full market cap on the top 30 list as well as the reserve list would then drop out.
“We estimate Maxis would have an index weight of 3%, slightly diluting the top nine stocks by 0.09 percentage point to 0.28 percentage point. On the FBM100 [], Maxis would have an index weight of 2.39%,” it said.
RHB Research said Khazanah had had long-term plans to reduce its shareholdings in the GLCs but this had repeatedly been hampered by market downturns.
“While the timing of Khazanah’s future share sales is unknown, we highlight that this could potentially have an impact on the FBM KLCI stock weightings, which are based on estimated free floats.
“Khazanah would have to sell 12.8% of Tenaga Nasional, 23.8% of Telekom, and 19.5% of Axiata to push the free float factor from 0.75 time currently to one time in order to make a difference to their FBM KLCI weightings, and effectively dilute the top three heavyweights: CIMB, Sime Darby and Public Bank.
“However, we believe this is unlikely as Khazanah’s stake in all three companies would fall below 33%,” it added.
RHB Research said as the government continued to mull over plans to privatise PLUS, it believed the potential impact on other component stock weightings would be insignificant although a new stock would be promoted in its place. It said if PLUS fell out, the next stock in the reserve list, Gamuda, would be promoted to the FBM KLCI.
It said as Gamuda’s estimated free float was over 75% after taking into account the Employees Provident Fund’s 9.3% and Raja Datuk Seri Eleena’s 7.5%, its free float factor would be the full one time.
This would place Gamuda in 18th position on the FBM KLCI based on Sept 24 share prices, just one rung below PLUS’ vacated spot, but above other bigger market cap stocks like BAT, Petronas Gas and YTL Power.
Similarly, if Astro’s market cap falls by RM1.9 billion, assuming a RM1 per share capital repayment, the stock’s market cap would fall to below even that of MAS which is currently the smallest among the top 30 FBM KLCI component stocks as well as the five reserve stocks.
RHB Research said Maxis’ relisting would lift the telecom sector weighting from 9.5% currently to 12.3% and if Khazanah sold down its stakes in Telekom and Axiata, the sector’s weighting would rise further to 14%. If the infrastructure sector’s sole representative PLUS is privatised and replaced by Gamuda, the CONSTRUCTION [] sector weight would rise to 3.6%.
The research house said if Astro fell out of the index to be replaced by Gamuda, the construction sector weighting would rise to 3.5% and the media sector would no longer be represented in the index.
After the changes caused by the four scenarios, RHB Research noted that the finance and PLANTATION [] sectors remained the major heavyweights, still commanding over 52% of the total index weight. The power sector would be diluted slightly, although its ranking would fall to fourth place after Telekom, from third currently.
This article appeared in The Edge Financial Daily, September 29, 2009.
Written by Financial Daily
Tuesday, 29 September 2009 11:12
KUALA LUMPUR: The FBM KLCI may undergo some weightage changes if four events occur as anticipated — Maxis Bhd is relisted, Khazanah Nasional Bhd pares down stakes in certain government-linked companies (GLCs), PLUS EXPRESSWAYS BHD [] is privatised, and Astro All Asian Networks plc makes a RM1 per share capital repayment, RHB Research Institute said.
The research house said if the Khazanah selldown occurred anytime between now and end-November, the changes would only be reflected after the next half-yearly review in mid-December. Likewise, a capital repayment by Astro (which would also reduce its market capitalisation) would only be reflected at the next half-yearly review.
However, under the FTSE ground rules, any changes caused by a Maxis relisting or PLUS privatisation prior to a half-yearly review would be reflected immediately.
Three years after it was privatised, Maxis is headed for a relisting on Bursa Malaysia, albeit only for its local operations. On its last day as a listed company on June 22, 2007, the stock was the fourth largest by full market capitalisation, ranked just below CIMB (formerly known as BUMIPUTRA-COMMERCE HOLDINGS [] Bhd) and above MISC BHD [] at the time.
“We note that the KLCI component stocks were still selected by full market cap in 2007, before the current free float-based system was implemented on July 6, 2009.
“In any case, as a start we have simplistically assumed that Maxis would have a market cap of RM37.5 billion roughly similar to what it was in 2007 prior to being delisted,” RHB Research said.
It said upon listing, due to its expected free float of 30% (and thus 0.3 time free float factor), Maxis would be added to the FBM KLCI at 10th spot even though it would be the fourth largest stock by full market cap.
RHB Research said MAS as the smallest by full market cap on the top 30 list as well as the reserve list would then drop out.
“We estimate Maxis would have an index weight of 3%, slightly diluting the top nine stocks by 0.09 percentage point to 0.28 percentage point. On the FBM100 [], Maxis would have an index weight of 2.39%,” it said.
RHB Research said Khazanah had had long-term plans to reduce its shareholdings in the GLCs but this had repeatedly been hampered by market downturns.
“While the timing of Khazanah’s future share sales is unknown, we highlight that this could potentially have an impact on the FBM KLCI stock weightings, which are based on estimated free floats.
“Khazanah would have to sell 12.8% of Tenaga Nasional, 23.8% of Telekom, and 19.5% of Axiata to push the free float factor from 0.75 time currently to one time in order to make a difference to their FBM KLCI weightings, and effectively dilute the top three heavyweights: CIMB, Sime Darby and Public Bank.
“However, we believe this is unlikely as Khazanah’s stake in all three companies would fall below 33%,” it added.
RHB Research said as the government continued to mull over plans to privatise PLUS, it believed the potential impact on other component stock weightings would be insignificant although a new stock would be promoted in its place. It said if PLUS fell out, the next stock in the reserve list, Gamuda, would be promoted to the FBM KLCI.
It said as Gamuda’s estimated free float was over 75% after taking into account the Employees Provident Fund’s 9.3% and Raja Datuk Seri Eleena’s 7.5%, its free float factor would be the full one time.
This would place Gamuda in 18th position on the FBM KLCI based on Sept 24 share prices, just one rung below PLUS’ vacated spot, but above other bigger market cap stocks like BAT, Petronas Gas and YTL Power.
Similarly, if Astro’s market cap falls by RM1.9 billion, assuming a RM1 per share capital repayment, the stock’s market cap would fall to below even that of MAS which is currently the smallest among the top 30 FBM KLCI component stocks as well as the five reserve stocks.
RHB Research said Maxis’ relisting would lift the telecom sector weighting from 9.5% currently to 12.3% and if Khazanah sold down its stakes in Telekom and Axiata, the sector’s weighting would rise further to 14%. If the infrastructure sector’s sole representative PLUS is privatised and replaced by Gamuda, the CONSTRUCTION [] sector weight would rise to 3.6%.
The research house said if Astro fell out of the index to be replaced by Gamuda, the construction sector weighting would rise to 3.5% and the media sector would no longer be represented in the index.
After the changes caused by the four scenarios, RHB Research noted that the finance and PLANTATION [] sectors remained the major heavyweights, still commanding over 52% of the total index weight. The power sector would be diluted slightly, although its ranking would fall to fourth place after Telekom, from third currently.
This article appeared in The Edge Financial Daily, September 29, 2009.
CIMB reiterates trading buy on chip sector
Tags: Brokers Call | CIMB Research | MPI | trading buy | Unisem
Written by Financial Daily
Tuesday, 29 September 2009 11:10
CIMB Research yesterday reiterated its trading buy on the semiconductor sector, noting that fundamentals “appear to be improving” with all the top 20 semiconductor companies — including Intel, Samsung, Texas Instruments, Toshiba and TSMC — recording a sequential bounce in their topline.
“Chip sales were up month-on-month for the fifth consecutive month in July, suggesting the bottom has been reached. We maintain our trading buy stance on the sector as we believe that it is at a turning point, notwithstanding some bumps along the recovery path.
“Closer to home, both MPI and Unisem also saw a sharp reversal in fortunes as they swung back into profitability from losses in the first quarter,” CIMB said in a note.
“Moreover, in line with our market strategy, we believe that investors are regaining their appetite for risk, leading to a resurgence of interest in higher-beta plays like semiconductor stocks. Sector catalysts could include a sooner-than-expected revival of end-user demand and a faster-than-expected economic recovery,” it added.
UNISEM (M) BHD [] is CIMB’s top pick for the sector due to its higher liquidity and beta. It has a trading buy on Unisem with a RM2.08 target price.
“The recently announced private placement of up to 10% of its shares by year-end was an unwelcome surprise to us as it would result in 5% to 6% dilution to our FY2010-2011 EPS (earnings per share) assuming the shares are priced at a 5% discount to its five-day volume weighted average market price at the time of the announcement.
“Moreover, we had always understood that de-gearing of its balance sheet would be through operating cash flow generation rather than cash calls. That said, we do not expect the exercise to have any impact on our call or target price.
Furthermore, the negative surprise is countered by the strengthening of its balance sheet and improved share liquidity arising from the higher number of shares in circulation,” CIMB said.
CIMB also has a trading buy on MALAYSIAN PACIFIC INDUSTRIES [] Bhd (MPI) with a target price of RM7.70 due to a quarter-on-quarter (q-o-q) improvement in earnings, revival of end-user demand and increasing risk tolerance.
The research house noted that the turnaround in chip sales had been fuelled mostly by inventory replenishment, “with some modest demand thrown into the mix”.
CIMB added that market researchers IC Insights had noted the top 20 semiconductor firms showed a sequential upswing of 21% in sales in the second quarter (2Q), a dramatic reversal from the 16% q-o-q fall experienced in 1Q.
While much of the 2Q sales growth resulted from inventory replenishment, the research house reckoned that seasonal demand for semiconductors should push up 3Q growth to 8% on a q-o-q basis.
“While consensus expects 3Q to hit its seasonal peak, it is somewhat divided over the outlook beyond that as visibility is still obscured.
“We believe that the upcoming Christmas sales will be a good barometer for 2010. While the market is almost unanimous in its opinion that 2010 and 2011 will be better years, most are divided on the timing of the take-off. We believe that it will be clearer by 2H10 when chip sales will finally rebound convincingly,” CIMB said.
Unlike the previous downcycle, CIMB reckoned that semiconductor firms were now “in a much healthier position”, with many semiconductor suppliers keeping their inventory levels lean and were scaling back on capital expenditure and capacity upgrade plans.
Nonetheless, CIMB warned investors to “watch out for the bumps and double dip”, given that the semiconductor sector’s fate is “still tied to the macroeconomic picture and until economies begin to show signs of life, there could be some choppy times ahead”.
“Our own economics team believes that there are clear signs of bottoming out in major OECD countries, suggesting that the deep recession is giving way to stabilisation and recovery.
“But the road to recovery is expected to be bumpy as recoveries in the wake of financial crises are typically slower. We see a 30%-40% probability of a double dip in the US as the sharp rise in asset and commodity prices could threaten the pace of recovery,” it said.
Unisem closed at RM1.62, down one sen yesterday while MPI ended at RM5.71, down three sen.
Written by Financial Daily
Tuesday, 29 September 2009 11:10
CIMB Research yesterday reiterated its trading buy on the semiconductor sector, noting that fundamentals “appear to be improving” with all the top 20 semiconductor companies — including Intel, Samsung, Texas Instruments, Toshiba and TSMC — recording a sequential bounce in their topline.
“Chip sales were up month-on-month for the fifth consecutive month in July, suggesting the bottom has been reached. We maintain our trading buy stance on the sector as we believe that it is at a turning point, notwithstanding some bumps along the recovery path.
“Closer to home, both MPI and Unisem also saw a sharp reversal in fortunes as they swung back into profitability from losses in the first quarter,” CIMB said in a note.
“Moreover, in line with our market strategy, we believe that investors are regaining their appetite for risk, leading to a resurgence of interest in higher-beta plays like semiconductor stocks. Sector catalysts could include a sooner-than-expected revival of end-user demand and a faster-than-expected economic recovery,” it added.
UNISEM (M) BHD [] is CIMB’s top pick for the sector due to its higher liquidity and beta. It has a trading buy on Unisem with a RM2.08 target price.
“The recently announced private placement of up to 10% of its shares by year-end was an unwelcome surprise to us as it would result in 5% to 6% dilution to our FY2010-2011 EPS (earnings per share) assuming the shares are priced at a 5% discount to its five-day volume weighted average market price at the time of the announcement.
“Moreover, we had always understood that de-gearing of its balance sheet would be through operating cash flow generation rather than cash calls. That said, we do not expect the exercise to have any impact on our call or target price.
Furthermore, the negative surprise is countered by the strengthening of its balance sheet and improved share liquidity arising from the higher number of shares in circulation,” CIMB said.
CIMB also has a trading buy on MALAYSIAN PACIFIC INDUSTRIES [] Bhd (MPI) with a target price of RM7.70 due to a quarter-on-quarter (q-o-q) improvement in earnings, revival of end-user demand and increasing risk tolerance.
The research house noted that the turnaround in chip sales had been fuelled mostly by inventory replenishment, “with some modest demand thrown into the mix”.
CIMB added that market researchers IC Insights had noted the top 20 semiconductor firms showed a sequential upswing of 21% in sales in the second quarter (2Q), a dramatic reversal from the 16% q-o-q fall experienced in 1Q.
While much of the 2Q sales growth resulted from inventory replenishment, the research house reckoned that seasonal demand for semiconductors should push up 3Q growth to 8% on a q-o-q basis.
“While consensus expects 3Q to hit its seasonal peak, it is somewhat divided over the outlook beyond that as visibility is still obscured.
“We believe that the upcoming Christmas sales will be a good barometer for 2010. While the market is almost unanimous in its opinion that 2010 and 2011 will be better years, most are divided on the timing of the take-off. We believe that it will be clearer by 2H10 when chip sales will finally rebound convincingly,” CIMB said.
Unlike the previous downcycle, CIMB reckoned that semiconductor firms were now “in a much healthier position”, with many semiconductor suppliers keeping their inventory levels lean and were scaling back on capital expenditure and capacity upgrade plans.
Nonetheless, CIMB warned investors to “watch out for the bumps and double dip”, given that the semiconductor sector’s fate is “still tied to the macroeconomic picture and until economies begin to show signs of life, there could be some choppy times ahead”.
“Our own economics team believes that there are clear signs of bottoming out in major OECD countries, suggesting that the deep recession is giving way to stabilisation and recovery.
“But the road to recovery is expected to be bumpy as recoveries in the wake of financial crises are typically slower. We see a 30%-40% probability of a double dip in the US as the sharp rise in asset and commodity prices could threaten the pace of recovery,” it said.
Unisem closed at RM1.62, down one sen yesterday while MPI ended at RM5.71, down three sen.
Stocks to watch: Plantations, O&G, TSR Cap, Glomac
Tags: Glomac | O&G | Plantations | TSR Cap
Written by Chong Jin Hun
Tuesday, 29 September 2009 07:34
KUALA LUMPUR: Asian markets including Bursa Malaysia could trade on a more positive note on Tuesday, Sept 29 after the overnight rally on Wall Street, enabling US stocks to snap a three-day losing streak.
A spurt of corporate takeovers in the TECHNOLOGY [] and health-care sectors fuelled optimism about share values, according to Reuters. Mergers and acquisitions are typically viewed as bullish as it suggests companies are more optimistic about the business outlook.
The Dow Jones industrial average rose or 1.28% to end at 9,789.36. The Standard & Poor's 500 Index gained 1.78% to 1,062.98. The Nasdaq Composite Index shot up 1.9% to 2,130.74.
At Bursa Malaysia, PLANTATION []s, and oil and gas (O&G) companies could take their cue from weaker commodity prices as crude oil prices fall in anticipation of weaker demand amid high inventory.
Palm oil rates tend to move in tandem with crude oil prices as costlier hydrocarbon energy prompts demand for palm oil as feedstock for production of biodiesel, a cheaper alternative.
"(Crude) Oil may find some support at USD58," SJ Securities wrote in a note. Malaysian palm oil for November delivery fell RM86 to RM2,115 a tonne yesterday while crude oil for the same month was traded at some US$66 a barrel, down from about US$72 seen last week.
Yesterday, shares of plantation firms IOI Corp Bhd lost 11 sen to RM5.23 while SIME DARBY BHD [] fell six sen to RM8.52. O&G process equipment maker KNM GROUP BHD [], the most actively traded stock, shed 2.5 sen to 76 sen.
CONSTRUCTION [] stocks AHMAD ZAKI RESOURCES BHD [] (AZRB) and TSR CAPITAL BHD [] could see trading interest on fresh corporate developments.
AZRB confirmed a report in The Edge Financial Daily that it had bid for a RM50 million job for the Hulu Terengganu hydroelectric project.
"At this stage, we can confirm that we have bid for the project but at present no letter of award has been secured with respect to the works mentioned in the said article," AZRB said.
TSR Capital secured an RM80 million job to build Phase 3A of the Space Technology Facility within the National Space Centre in Banting, Selangor.
A 6.12% block of shares in property developer GLOMAC BHD [], believed to be treasury shares, were traded off-market on Sept 28 at RM1.098 apiece.
Glomac posted net profit of RM8.34 million for the first quarter ended July 31, 2009, up from the RM7.8 million a year ago. On a pre-tax level, it was up 57% at RM16.47 million versus RM10.5 million a year ago.
As for AmcorpGroup and AMDB, the latest development was that Tan Sri Azman Hashim's AmcorpGroup Bhd's offer for sale of 119.8 million shares in a restructured AMDB BHD [] met with a cold reception as only 7.19% of the total shares offered were accepted.
Written by Chong Jin Hun
Tuesday, 29 September 2009 07:34
KUALA LUMPUR: Asian markets including Bursa Malaysia could trade on a more positive note on Tuesday, Sept 29 after the overnight rally on Wall Street, enabling US stocks to snap a three-day losing streak.
A spurt of corporate takeovers in the TECHNOLOGY [] and health-care sectors fuelled optimism about share values, according to Reuters. Mergers and acquisitions are typically viewed as bullish as it suggests companies are more optimistic about the business outlook.
The Dow Jones industrial average rose or 1.28% to end at 9,789.36. The Standard & Poor's 500 Index gained 1.78% to 1,062.98. The Nasdaq Composite Index shot up 1.9% to 2,130.74.
At Bursa Malaysia, PLANTATION []s, and oil and gas (O&G) companies could take their cue from weaker commodity prices as crude oil prices fall in anticipation of weaker demand amid high inventory.
Palm oil rates tend to move in tandem with crude oil prices as costlier hydrocarbon energy prompts demand for palm oil as feedstock for production of biodiesel, a cheaper alternative.
"(Crude) Oil may find some support at USD58," SJ Securities wrote in a note. Malaysian palm oil for November delivery fell RM86 to RM2,115 a tonne yesterday while crude oil for the same month was traded at some US$66 a barrel, down from about US$72 seen last week.
Yesterday, shares of plantation firms IOI Corp Bhd lost 11 sen to RM5.23 while SIME DARBY BHD [] fell six sen to RM8.52. O&G process equipment maker KNM GROUP BHD [], the most actively traded stock, shed 2.5 sen to 76 sen.
CONSTRUCTION [] stocks AHMAD ZAKI RESOURCES BHD [] (AZRB) and TSR CAPITAL BHD [] could see trading interest on fresh corporate developments.
AZRB confirmed a report in The Edge Financial Daily that it had bid for a RM50 million job for the Hulu Terengganu hydroelectric project.
"At this stage, we can confirm that we have bid for the project but at present no letter of award has been secured with respect to the works mentioned in the said article," AZRB said.
TSR Capital secured an RM80 million job to build Phase 3A of the Space Technology Facility within the National Space Centre in Banting, Selangor.
A 6.12% block of shares in property developer GLOMAC BHD [], believed to be treasury shares, were traded off-market on Sept 28 at RM1.098 apiece.
Glomac posted net profit of RM8.34 million for the first quarter ended July 31, 2009, up from the RM7.8 million a year ago. On a pre-tax level, it was up 57% at RM16.47 million versus RM10.5 million a year ago.
As for AmcorpGroup and AMDB, the latest development was that Tan Sri Azman Hashim's AmcorpGroup Bhd's offer for sale of 119.8 million shares in a restructured AMDB BHD [] met with a cold reception as only 7.19% of the total shares offered were accepted.
Wall Street snaps 3-day losing streak
Tags: Abbott Laboratories | mergers | Solvay | Wall Street | Xerox Corp
Written by Reuters
Tuesday, 29 September 2009 06:59
NEW YORK: US stocks rallied on Monday, Sept 28 snapping a three-day losing streak, as a spurt of corporate takeovers in the TECHNOLOGY [] and health-care sectors fueled optimism about share values, according to Reuters.
Mergers and acquisitions are typically viewed as bullish as it suggests companies are more optimistic about the business outlook.
A number of deals were announced and investors bet more could follow. Xerox Corp agreed to buy Affiliated Computer Services Inc, and Abbott Laboratories said it would pay US$6.6 billion for Solvay's drug unit.
"It's always a positive sign when you see companies putting money to work, whether they buy other companies, invest in new plants, (or) buy back their own stock," said Tim Smalls, head of U.S. stock trading at brokerage firm Execution LLC in Greenwich, Connecticut.
"With depressed stock prices, like we've had over the past year and a half, a lot of companies will find it cheaper to buy a company than to grow that same type of company organically. It's a more effective way to put money to work sometimes."
The Dow Jones industrial average rose 124.17 points, or 1.28 percent, to end at 9,789.36. The Standard & Poor's 500 Index gained 18.60 points, or 1.78 percent, to 1,062.98. The Nasdaq Composite Index shot up 39.82 points, or 1.90 percent, to 2,130.74.
With Monday's gains, the Dow Jones industrial average held an advance of about 16 percent in the quarter so far, which would make it the index's best such period since the fourth quarter of 1998.
But the end of the third quarter on Wednesday may spur volatility as fund managers engage in what is known as "window dressing" -- when they sell laggards in favor of outperformers to spruce up portfolios at quarter's end.
In the last three sessions, the S&P 500 had declined more than 2 percent after rallying nearly 60 percent from the 12-year closing low of early March.
Abbott climbed 2.6 percent to US$48.58, while Affiliated Computer advanced 14 percent to US$53.86.
Xerox, which valued the cash-and-stock deal for Affiliated at an initial US$6.4 billion, sank 14.5 percent to US$7.68.
Other deals on Monday included U.S. diversified health-care company Johnson & Johnson's purchase of an 18 percent stake in biotech firm Crucell for 302 million euros (US$444 million) as part of a flu vaccine development deal, the Dutch company said on Monday.
The pharmaceuticals index climbed 1.3 percent.
Crucell fell 6.6 percent to US$22.13 on Nasdaq, but J&J, a Dow component, was up 1.1 percent at US$61.27 on the New York Stock Exchange. - Reuters
Written by Reuters
Tuesday, 29 September 2009 06:59
NEW YORK: US stocks rallied on Monday, Sept 28 snapping a three-day losing streak, as a spurt of corporate takeovers in the TECHNOLOGY [] and health-care sectors fueled optimism about share values, according to Reuters.
Mergers and acquisitions are typically viewed as bullish as it suggests companies are more optimistic about the business outlook.
A number of deals were announced and investors bet more could follow. Xerox Corp agreed to buy Affiliated Computer Services Inc, and Abbott Laboratories said it would pay US$6.6 billion for Solvay's drug unit.
"It's always a positive sign when you see companies putting money to work, whether they buy other companies, invest in new plants, (or) buy back their own stock," said Tim Smalls, head of U.S. stock trading at brokerage firm Execution LLC in Greenwich, Connecticut.
"With depressed stock prices, like we've had over the past year and a half, a lot of companies will find it cheaper to buy a company than to grow that same type of company organically. It's a more effective way to put money to work sometimes."
The Dow Jones industrial average rose 124.17 points, or 1.28 percent, to end at 9,789.36. The Standard & Poor's 500 Index gained 18.60 points, or 1.78 percent, to 1,062.98. The Nasdaq Composite Index shot up 39.82 points, or 1.90 percent, to 2,130.74.
With Monday's gains, the Dow Jones industrial average held an advance of about 16 percent in the quarter so far, which would make it the index's best such period since the fourth quarter of 1998.
But the end of the third quarter on Wednesday may spur volatility as fund managers engage in what is known as "window dressing" -- when they sell laggards in favor of outperformers to spruce up portfolios at quarter's end.
In the last three sessions, the S&P 500 had declined more than 2 percent after rallying nearly 60 percent from the 12-year closing low of early March.
Abbott climbed 2.6 percent to US$48.58, while Affiliated Computer advanced 14 percent to US$53.86.
Xerox, which valued the cash-and-stock deal for Affiliated at an initial US$6.4 billion, sank 14.5 percent to US$7.68.
Other deals on Monday included U.S. diversified health-care company Johnson & Johnson's purchase of an 18 percent stake in biotech firm Crucell for 302 million euros (US$444 million) as part of a flu vaccine development deal, the Dutch company said on Monday.
The pharmaceuticals index climbed 1.3 percent.
Crucell fell 6.6 percent to US$22.13 on Nasdaq, but J&J, a Dow component, was up 1.1 percent at US$61.27 on the New York Stock Exchange. - Reuters
Bursa Malaysia trails key markets
Tags: equities | Hirohisa Fujii | US dollar | yen
Written by Joseph Chin
Tuesday, 29 September 2009 13:12
KUALA LUMPUR: While most key Asian markets, except Shanghai, managed to snap out of their recent losses after the Japanese yen started to weaken against the US dollar, the local stock market put up a lacklustre performance at the midday break on Tuesday, Sept 29.
At midday, the FBM KLCI rose 1.08 points to 1,207.03. Turnover was 306.92 million shares valued at RM317.67 million. The broader market saw advancers leading decliners three to two, with 309 gainers, 198 losers and 230 stocks unchanged.
The yen weakened against the greenback in the morning session to as low as 90.23 after Tokyo refused to rule out currency intervention. At 12.30pm, it was 89.96 to the US dollar versus the high of 88.22 on Monday. Japan's Nikkei 225 rose 0.69% to 10,078.63 as exporters would benefit from a weaker yen.
Reuters reported the yen slid after Finance Minister Hirohisa Fujii said that intervention might be an option if currency moves were irregular, even though he reiterated it was wrong for any country to try to win a competitive edge by devaluing its currency.
"If moves are irregular, there is a possibility we might take whatever action deemed necessary for the sake of the country," Fujii told a news conference
Hong Kong's Hang Seng Index added 2.3% to 21,051.87 and Singapore's Straits Times Index gained 1.6% to 2,670.68 but Shanghai's Composite Index fell 0.91% to 2,738.34.
Crude palm oil futures rose RM7 to RM2,110.
BAT was the top gainer, adding 38 sen to RM44.98 with 7,500 shares done while Hai-O added 20 sen to RM5.62, Kawan 15 sen to RM1.16 and Apollo 10 sen up to RM2.86.
Petronas Dagangan added 12 sen to RM8.55, EON Cap, Tanjong and Pos advanced 10 sen each to RM5.49, RM15 and RM2.21 respectively.
KNM was the most active with 30.65 million shares done.
Bintulu Port lost 20 sen to RM6.10 while Star and UPA shed 10 sen each to RM3.22 and RM1.39, Alam shed nine sen to RM1.88 and M3Nergy was eight sen lower at RM1.70.
Written by Joseph Chin
Tuesday, 29 September 2009 13:12
KUALA LUMPUR: While most key Asian markets, except Shanghai, managed to snap out of their recent losses after the Japanese yen started to weaken against the US dollar, the local stock market put up a lacklustre performance at the midday break on Tuesday, Sept 29.
At midday, the FBM KLCI rose 1.08 points to 1,207.03. Turnover was 306.92 million shares valued at RM317.67 million. The broader market saw advancers leading decliners three to two, with 309 gainers, 198 losers and 230 stocks unchanged.
The yen weakened against the greenback in the morning session to as low as 90.23 after Tokyo refused to rule out currency intervention. At 12.30pm, it was 89.96 to the US dollar versus the high of 88.22 on Monday. Japan's Nikkei 225 rose 0.69% to 10,078.63 as exporters would benefit from a weaker yen.
Reuters reported the yen slid after Finance Minister Hirohisa Fujii said that intervention might be an option if currency moves were irregular, even though he reiterated it was wrong for any country to try to win a competitive edge by devaluing its currency.
"If moves are irregular, there is a possibility we might take whatever action deemed necessary for the sake of the country," Fujii told a news conference
Hong Kong's Hang Seng Index added 2.3% to 21,051.87 and Singapore's Straits Times Index gained 1.6% to 2,670.68 but Shanghai's Composite Index fell 0.91% to 2,738.34.
Crude palm oil futures rose RM7 to RM2,110.
BAT was the top gainer, adding 38 sen to RM44.98 with 7,500 shares done while Hai-O added 20 sen to RM5.62, Kawan 15 sen to RM1.16 and Apollo 10 sen up to RM2.86.
Petronas Dagangan added 12 sen to RM8.55, EON Cap, Tanjong and Pos advanced 10 sen each to RM5.49, RM15 and RM2.21 respectively.
KNM was the most active with 30.65 million shares done.
Bintulu Port lost 20 sen to RM6.10 while Star and UPA shed 10 sen each to RM3.22 and RM1.39, Alam shed nine sen to RM1.88 and M3Nergy was eight sen lower at RM1.70.
Bursa: Likely to take a breather
Tags: Bursa Malaysia | InsiderAsia
Written by InsiderAsia
Tuesday, 29 September 2009 20:09
THE share price for Bursa Malaysia (RM8.16) has fared better than the broader market in the year-to-date, bolstered by the sharp rebound in equity markets. Going forward, sentiment — and performance — for the stock will remain closely tied to outlook for global equities.
So far, the rally in global stocks has shown remarkable resilience despite chalking up strong gains over the past six months. Strengthening investor confidence is underpinned by mounting evidence that the world is coming out of its worst recession in decades. The worst, by most yardsticks, is behind us.
Industrial output and global trade are rising month to month, boosted by government pump-priming efforts and inventory rebuilding. Consumer confidence too has improved from the lows in the fourth quarter of 2008 to the first quarter of 2009 (4Q08-1Q09).
To be sure, we are cautious that equity markets may have run ahead of underlying fundamentals. Valuations do appear stretched against forecast earnings for 2009-2010. Further upside from hereon will depend on the pace of the global economic recovery, which at this point is still somewhat unclear.
Pace of recovery still unclear
Chief among the concerns is the persistent high unemployment rates in most developed countries, including the US, euro zone and Japan. With jobs scarce and income growth muted, consumers are expected to remain tight-fisted, especially when it comes to discretionary spending. Also, there remains significant excess in production capacity around the world, which would, in turn, keep a lid on business spending in the near to medium term.
This means that private spending may not be strong enough to pick up the slack once the lifting impact from government stimulus measures and inventory rebuilding fades. Unless consumer and business spending gains traction, the rally in equity markets could start to lose momentum. Additionally, given the magnitude of recent gains, markets should undergo some correction.
Resilient markets, supported by massive liquidity
However, any pullback may turn out to be relatively shallow. This is due, primarily, to the massive liquidity pumped into the global financial system in the aftermath of last year's credit crisis.
Leaders of the G20 leading industrialised and developing economies have reaffirmed their commitment to stimulus policies, given the still fragile state of the recovery. The US Federal Reserve's latest statement suggests that interest rates will stay near zero levels for an extended period.
The search for higher yields has been, and will continue to be, the main driving force behind the current rally in equity — and commodity — markets. Improved economic outlook has whetted investors' appetite for risks, again.
Decent trading volume on Bursa
Trading volume on the local bourse has come off from the highs recorded in 2Q09, when daily market volume averaged at 1.64 billion shares, given the more cautious stance. But current levels are still pretty decent. Daily on-market trading volume averaged roughly 830 million shares in the current quarter.
Assuming daily trading volume to average at around 700-800 million shares for the rest of the year, Bursa's net profit in the second half of 2009 (2H09) is estimated to mirror the RM50.5 million recorded in the first half of the year.
The stock's valuations do look relatively high, at roughly 43 times our estimated 2009 earnings. Bear in mind though, Bursa's earnings tend to fluctuate quite a bit in tandem with investor confidence and trading volume. In other words, valuations would drop sharply if investor interest picks up. Given prevailing market conditions, further upside in the immediate future may be limited. Nevertheless, Bursa's longer-term prospects remain intact.
Strong business franchise
Bursa is a good proxy for the broader market as well as the country's economic health. It has a solid business franchise and balance sheet, with some RM440 million in available resources for use at end-June 2009.
The company's recent strategic partnership with CME Group, the world's largest and most diverse derivatives marketplace, is expected to boost its derivatives business.
Upon completion of the deal — slated for 2H2010 — all derivatives products currently traded on the Bursa Trade Derivatives will be listed and traded on the CME Globex electronic trading platform. This will, in one fell swoop, open its entire range of derivatives products to CME Group's vast global network of dealers and investors. Bursa forecasts trading volume for its derivatives products will double within three years.
Bursa will also license the Chicago Mercantile Exchange the right to use the settlement prices of its RM-denominated crude palm oil futures contract (FCPO). This will allow the future joint development and marketing for new palm oil-related products.
CME Group will take a 25% stake in the company's derivatives business for a total consideration of RM55.6 million. The purchase consideration will be settled via RM1.9 million cash and 76,427 shares in CME Group. As a result, Bursa will recognise an extraordinary gain of about RM44 million upon completion of the equity sale, targeted to be by end-2009.
Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.
Written by InsiderAsia
Tuesday, 29 September 2009 20:09
THE share price for Bursa Malaysia (RM8.16) has fared better than the broader market in the year-to-date, bolstered by the sharp rebound in equity markets. Going forward, sentiment — and performance — for the stock will remain closely tied to outlook for global equities.
So far, the rally in global stocks has shown remarkable resilience despite chalking up strong gains over the past six months. Strengthening investor confidence is underpinned by mounting evidence that the world is coming out of its worst recession in decades. The worst, by most yardsticks, is behind us.
Industrial output and global trade are rising month to month, boosted by government pump-priming efforts and inventory rebuilding. Consumer confidence too has improved from the lows in the fourth quarter of 2008 to the first quarter of 2009 (4Q08-1Q09).
To be sure, we are cautious that equity markets may have run ahead of underlying fundamentals. Valuations do appear stretched against forecast earnings for 2009-2010. Further upside from hereon will depend on the pace of the global economic recovery, which at this point is still somewhat unclear.
Pace of recovery still unclear
Chief among the concerns is the persistent high unemployment rates in most developed countries, including the US, euro zone and Japan. With jobs scarce and income growth muted, consumers are expected to remain tight-fisted, especially when it comes to discretionary spending. Also, there remains significant excess in production capacity around the world, which would, in turn, keep a lid on business spending in the near to medium term.
This means that private spending may not be strong enough to pick up the slack once the lifting impact from government stimulus measures and inventory rebuilding fades. Unless consumer and business spending gains traction, the rally in equity markets could start to lose momentum. Additionally, given the magnitude of recent gains, markets should undergo some correction.
Resilient markets, supported by massive liquidity
However, any pullback may turn out to be relatively shallow. This is due, primarily, to the massive liquidity pumped into the global financial system in the aftermath of last year's credit crisis.
Leaders of the G20 leading industrialised and developing economies have reaffirmed their commitment to stimulus policies, given the still fragile state of the recovery. The US Federal Reserve's latest statement suggests that interest rates will stay near zero levels for an extended period.
The search for higher yields has been, and will continue to be, the main driving force behind the current rally in equity — and commodity — markets. Improved economic outlook has whetted investors' appetite for risks, again.
Decent trading volume on Bursa
Trading volume on the local bourse has come off from the highs recorded in 2Q09, when daily market volume averaged at 1.64 billion shares, given the more cautious stance. But current levels are still pretty decent. Daily on-market trading volume averaged roughly 830 million shares in the current quarter.
Assuming daily trading volume to average at around 700-800 million shares for the rest of the year, Bursa's net profit in the second half of 2009 (2H09) is estimated to mirror the RM50.5 million recorded in the first half of the year.
The stock's valuations do look relatively high, at roughly 43 times our estimated 2009 earnings. Bear in mind though, Bursa's earnings tend to fluctuate quite a bit in tandem with investor confidence and trading volume. In other words, valuations would drop sharply if investor interest picks up. Given prevailing market conditions, further upside in the immediate future may be limited. Nevertheless, Bursa's longer-term prospects remain intact.
Strong business franchise
Bursa is a good proxy for the broader market as well as the country's economic health. It has a solid business franchise and balance sheet, with some RM440 million in available resources for use at end-June 2009.
The company's recent strategic partnership with CME Group, the world's largest and most diverse derivatives marketplace, is expected to boost its derivatives business.
Upon completion of the deal — slated for 2H2010 — all derivatives products currently traded on the Bursa Trade Derivatives will be listed and traded on the CME Globex electronic trading platform. This will, in one fell swoop, open its entire range of derivatives products to CME Group's vast global network of dealers and investors. Bursa forecasts trading volume for its derivatives products will double within three years.
Bursa will also license the Chicago Mercantile Exchange the right to use the settlement prices of its RM-denominated crude palm oil futures contract (FCPO). This will allow the future joint development and marketing for new palm oil-related products.
CME Group will take a 25% stake in the company's derivatives business for a total consideration of RM55.6 million. The purchase consideration will be settled via RM1.9 million cash and 76,427 shares in CME Group. As a result, Bursa will recognise an extraordinary gain of about RM44 million upon completion of the equity sale, targeted to be by end-2009.
Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.
Asia Roundup: Down on US weakness, strong yen
HONG KONG: Asian markets fell yesterday after further weakness on Wall Street Friday triggered fresh doubts over the pace of economic recovery and a strong yen stoked fears for Japanese exporters.
Weighing on the region was a third consecutive fall on Wall Street Friday, after the Commerce Department said orders for US durable goods fell 2.4 per cent, showing surprising weakness in the manufacturing sector.
TOKYO: Down 2.50 per cent. The Nikkei-225 index dropped 256.46 points to 10,009.52. "The yen's strength weighed on the market as it reduces exporter earnings," said Kazuhiro Takahashi, equity information chief at Daiwa Securities SMBC.
SYDNEY: Down 0.76 per cent. The S&P/ASX 200 dropped 35.9 points to close at 4,677.4. The Australian market fell in line with stocks in Asia following a weak lead from the United States, analysts said.
SHANGHAI: Down 2.65 per cent. The Shanghai Composite Index, which covers both A and B shares, was down 75.32 points to 2,763.53 The official Securities Times, citing an unnamed "authoritative" source, reported yesterday that the Nasdaq-style ChiNext board would be launched in Shenzhen at the end of October.
SEOUL: Down 0.94 per cent. The KOSPI ended down 15.93 points at 1,675.55.
Hyundai Motor lost 4.3 per cent to 110,500 won, Kia Motors dropped 4.7 per cent to 18,300 and KB Financial Group dropped two per cent to 58,300. Steelmakers declined on supply and price concerns.
TAIPEI: Down 0.83 per cent. The index fell 60.61 points to 7,284.61.
"The market is watching closely how US high-tech firms will report their earnings for the third quarter. It will provide an important indication for local electronic stocks," an analyst said.
BANGKOK: Down 1.76 per cent. The Stock Exchange of Thailand (SET) composite index fell 12.69 points to close at 708.88.
JAKARTA: Down 1.91 per cent. The Jakarta Composite Index lost 46.75 points to 2,397.82.
MANILA: Down 1.30 per cent. The composite index gave up 36.69 points to 2,784.65. Investors braced for the economic fallout from the worst flooding in Manila in over 40 years, dealers said.
WELLINGTON: Up 0.64 per cent. The NZX-50 index gained 19.92 points to 3,131.17. - AFP
Weighing on the region was a third consecutive fall on Wall Street Friday, after the Commerce Department said orders for US durable goods fell 2.4 per cent, showing surprising weakness in the manufacturing sector.
TOKYO: Down 2.50 per cent. The Nikkei-225 index dropped 256.46 points to 10,009.52. "The yen's strength weighed on the market as it reduces exporter earnings," said Kazuhiro Takahashi, equity information chief at Daiwa Securities SMBC.
SYDNEY: Down 0.76 per cent. The S&P/ASX 200 dropped 35.9 points to close at 4,677.4. The Australian market fell in line with stocks in Asia following a weak lead from the United States, analysts said.
SHANGHAI: Down 2.65 per cent. The Shanghai Composite Index, which covers both A and B shares, was down 75.32 points to 2,763.53 The official Securities Times, citing an unnamed "authoritative" source, reported yesterday that the Nasdaq-style ChiNext board would be launched in Shenzhen at the end of October.
SEOUL: Down 0.94 per cent. The KOSPI ended down 15.93 points at 1,675.55.
Hyundai Motor lost 4.3 per cent to 110,500 won, Kia Motors dropped 4.7 per cent to 18,300 and KB Financial Group dropped two per cent to 58,300. Steelmakers declined on supply and price concerns.
TAIPEI: Down 0.83 per cent. The index fell 60.61 points to 7,284.61.
"The market is watching closely how US high-tech firms will report their earnings for the third quarter. It will provide an important indication for local electronic stocks," an analyst said.
BANGKOK: Down 1.76 per cent. The Stock Exchange of Thailand (SET) composite index fell 12.69 points to close at 708.88.
JAKARTA: Down 1.91 per cent. The Jakarta Composite Index lost 46.75 points to 2,397.82.
MANILA: Down 1.30 per cent. The composite index gave up 36.69 points to 2,784.65. Investors braced for the economic fallout from the worst flooding in Manila in over 40 years, dealers said.
WELLINGTON: Up 0.64 per cent. The NZX-50 index gained 19.92 points to 3,131.17. - AFP
KL shares lower on profit-taking
Malaysian shares ended lower yesterday on profit-taking as investors cashed in on heavyweights following the downtrend in the US market, said dealers.
At close, the FTSE Bursa Malaysia Kuala Lumpur Composite Index shed 11.44 points to 1,205.95 after opening 0.57 of a point easier at 1,216.82.
SJ Securities analyst Phua Kwee Hock said the market was undergoing a small correction and did not expect it to fall below 1,184 level. "The market may see a support level at 1,193 and resistance level at 1,212. This profit-taking is more of a global thing," he said.
Phua said the local market tracks the US market which went on a selling mode recently when the US Federal Reserve made a cautious stance on the country's economic recovery.
Phua said the market would remain soft until mid-October ahead of the Budget 2010 to be tabled October 23.
The FBMEmas fell 75.97 points to 8,118.06, the FBM Top 100 slid 76.92 points to 7,908.92, the FBM70 lost 85.27 points to 8,015.06 and the FBM ACE Index dwindled 50.17 points to 4,023.91. The Technology Index shed 0.05 of a point to 16.28, the Finance Index slipped 67.67 points to 9,934.54, the Plantation Index slid 83.85 points to 5,909.14 and the Industrial Index was 21.8 points lower at 2,645.29.
Losers led gainers 469 to 145 with 183 counters unchanged and 461 untraded.
Top losers included KLK, which shed 24 sen to RM13.74, LMCement lost 23 sen to RM6.05 and SP Setia fell 20 sen to RM4.
Among actives, KNM lost 2.5 sen to 76 sen, SAAG slipped half a sen to 23 sen while Jadi Imaging gained half a sen to 21 sen.
Losers among the heavyweights included plantation companies such as Sime Darby, which fell six sen to RM8.52, IOI Corp shed 14 sen to RM5.20 and PPB Group declined 10 sen to RM15.92.
As for the banking sector, Maybank lost two sen to RM6.66, CIMB Group and Public Bank slid six sen each to RM11.10 and RM10.20, respectively, and RHB Capital lost 15 sen to RM5.10.
Tenaga Nasional fell two sen to RM8.18, Axiata eased three sen to RM3.14 and Genting fell 19 sen to RM9.
The FBM KLCI futures ended lower, on the back of a similar trend in the cash market, a dealer said.
The September 2009 contract fell 16.5 points to 1,205, October 2009 dropped 15.5 points to 1,207.0, December 2009 declined 17.5 points to 1,204.5 and March 2010 was 14 points lower at 1,204.5. Turnover was higher at 16,876 lots compared with 13,670 lots last Friday and open interests perked to 20,343 contracts from 17,923 contracts previously. - Bernama
At close, the FTSE Bursa Malaysia Kuala Lumpur Composite Index shed 11.44 points to 1,205.95 after opening 0.57 of a point easier at 1,216.82.
SJ Securities analyst Phua Kwee Hock said the market was undergoing a small correction and did not expect it to fall below 1,184 level. "The market may see a support level at 1,193 and resistance level at 1,212. This profit-taking is more of a global thing," he said.
Phua said the local market tracks the US market which went on a selling mode recently when the US Federal Reserve made a cautious stance on the country's economic recovery.
Phua said the market would remain soft until mid-October ahead of the Budget 2010 to be tabled October 23.
The FBMEmas fell 75.97 points to 8,118.06, the FBM Top 100 slid 76.92 points to 7,908.92, the FBM70 lost 85.27 points to 8,015.06 and the FBM ACE Index dwindled 50.17 points to 4,023.91. The Technology Index shed 0.05 of a point to 16.28, the Finance Index slipped 67.67 points to 9,934.54, the Plantation Index slid 83.85 points to 5,909.14 and the Industrial Index was 21.8 points lower at 2,645.29.
Losers led gainers 469 to 145 with 183 counters unchanged and 461 untraded.
Top losers included KLK, which shed 24 sen to RM13.74, LMCement lost 23 sen to RM6.05 and SP Setia fell 20 sen to RM4.
Among actives, KNM lost 2.5 sen to 76 sen, SAAG slipped half a sen to 23 sen while Jadi Imaging gained half a sen to 21 sen.
Losers among the heavyweights included plantation companies such as Sime Darby, which fell six sen to RM8.52, IOI Corp shed 14 sen to RM5.20 and PPB Group declined 10 sen to RM15.92.
As for the banking sector, Maybank lost two sen to RM6.66, CIMB Group and Public Bank slid six sen each to RM11.10 and RM10.20, respectively, and RHB Capital lost 15 sen to RM5.10.
Tenaga Nasional fell two sen to RM8.18, Axiata eased three sen to RM3.14 and Genting fell 19 sen to RM9.
The FBM KLCI futures ended lower, on the back of a similar trend in the cash market, a dealer said.
The September 2009 contract fell 16.5 points to 1,205, October 2009 dropped 15.5 points to 1,207.0, December 2009 declined 17.5 points to 1,204.5 and March 2010 was 14 points lower at 1,204.5. Turnover was higher at 16,876 lots compared with 13,670 lots last Friday and open interests perked to 20,343 contracts from 17,923 contracts previously. - Bernama
Bank Negara, HKMA sign pact on financial services
BANK Negara Malaysia and the Hong Kong Monetary Authority (HKMA) has signed a memorandum of understanding to cooperate in developing the financial services industry, particularly in Islamic finance.
Both parties agreed to strengthen cooperation in several key areas such as capacity building and human capital development.
They will also work together in promoting and developing market infrastructure and in promoting cross-border financial activities through harmonisation of standards relating to Islamic finance transactions.
Both parties agreed to strengthen cooperation in several key areas such as capacity building and human capital development.
They will also work together in promoting and developing market infrastructure and in promoting cross-border financial activities through harmonisation of standards relating to Islamic finance transactions.
Ringgit finishes lower against US dollar
RINGGIT
THE ringgit closed lower against the US dollar yesterday in line with the easier stock market, where the FTSE Bursa Malaysia KLCI lost 11.44 points to 1,205.95, dealers said.
At 5pm, the ringgit was at 3.4780/4820 to a US dollar compared with 3.4680/4720 at last Friday's closing.
A dealer said the local stock market ended lower as investors took cue from the US market which went down on selling pressure, and this had impact on the ringgit's movement.
Against the Singapore dollar, the local unit rose 2.4471/4533 from 2.4479/4534 but against the Japanese yen it eased to 3.8886/8944 from 3.8304/8360.
The local unit was also higher against the British pound to 5.5318/5399 from 5.5592/5674 and against the euro to 5.0869/0938 from 5.0948/1018.
INTERBANK RATES
SHORT-TERM rates remained steady at close yesterday as Bank Negara Malaysia continued to siphon off excess liquidity to keep rates in check.
The overnight rate finished at 1.92 per cent while the one-week, two-week and three-week rates were at 1.95, 1.97 and 1.99 per cent respectively.
Liquidity surplus in the system was reduced to RM18.0 billion in the conventional operations and to RM8.08 billion in Islamic funds. The central bank earlier estimated excess liquidity at RM30.37 billion in the conventional system and RM8.25 billion in Islamic funds.
In the conventional system, Bank Negara called for five tenders to borrow RM2 billion each for one-week, two-weeks, three-weeks and 45-days respectively and RM4 billion for one-month. The central bank also called for a repo tender of RM500 million for 45-days.
In addition, it issued three Al-Wadiah tenders namely RM1.5 billion for one week and RM500 million each for two-weeks and three-weeks respectively. It also conducted a late conventional tender for RM18.0 billion of three-day money and an Al-Wadiah tender for RM8.0 billion of three-day money.
KLIBOR
THE three-month Kuala Lumpur Interbank Offered Rate (Klibor) futures on Bursa Malaysia Derivatives closed lower yesterday with two contract months traded, dealers said.
December 2009 and March 2010 declined three ticks each to settle at 97.80 and 97.63 respectively.
Turnover totalled 22 lot while open interest was 32,903 contracts. At 11am, the underlying three-month Klibor was fixed at 2.14 per cent. Meanwhile, the five-year Malaysian Government Securities futures were untraded. - Bernama
THE ringgit closed lower against the US dollar yesterday in line with the easier stock market, where the FTSE Bursa Malaysia KLCI lost 11.44 points to 1,205.95, dealers said.
At 5pm, the ringgit was at 3.4780/4820 to a US dollar compared with 3.4680/4720 at last Friday's closing.
A dealer said the local stock market ended lower as investors took cue from the US market which went down on selling pressure, and this had impact on the ringgit's movement.
Against the Singapore dollar, the local unit rose 2.4471/4533 from 2.4479/4534 but against the Japanese yen it eased to 3.8886/8944 from 3.8304/8360.
The local unit was also higher against the British pound to 5.5318/5399 from 5.5592/5674 and against the euro to 5.0869/0938 from 5.0948/1018.
INTERBANK RATES
SHORT-TERM rates remained steady at close yesterday as Bank Negara Malaysia continued to siphon off excess liquidity to keep rates in check.
The overnight rate finished at 1.92 per cent while the one-week, two-week and three-week rates were at 1.95, 1.97 and 1.99 per cent respectively.
Liquidity surplus in the system was reduced to RM18.0 billion in the conventional operations and to RM8.08 billion in Islamic funds. The central bank earlier estimated excess liquidity at RM30.37 billion in the conventional system and RM8.25 billion in Islamic funds.
In the conventional system, Bank Negara called for five tenders to borrow RM2 billion each for one-week, two-weeks, three-weeks and 45-days respectively and RM4 billion for one-month. The central bank also called for a repo tender of RM500 million for 45-days.
In addition, it issued three Al-Wadiah tenders namely RM1.5 billion for one week and RM500 million each for two-weeks and three-weeks respectively. It also conducted a late conventional tender for RM18.0 billion of three-day money and an Al-Wadiah tender for RM8.0 billion of three-day money.
KLIBOR
THE three-month Kuala Lumpur Interbank Offered Rate (Klibor) futures on Bursa Malaysia Derivatives closed lower yesterday with two contract months traded, dealers said.
December 2009 and March 2010 declined three ticks each to settle at 97.80 and 97.63 respectively.
Turnover totalled 22 lot while open interest was 32,903 contracts. At 11am, the underlying three-month Klibor was fixed at 2.14 per cent. Meanwhile, the five-year Malaysian Government Securities futures were untraded. - Bernama
BNM, HKMA sign MoU on cooperation
Written by The Edge Financial DCaily
Monday, 28 September 2009 22:08
KUALA LUMPUR: Bank Negara Malaysia (BNM) and the Hong Kong Monetary Authority (HKMA) have signed a memorandum of understanding (MoU) on cooperation in the development of the financial services industry, particularly in the area of Islamic finance.
In a joint statement on Sept 28, the central banks said under a long-term strategic partnership, they agreed to further strengthen cooperation in key areas such as capacity building and human capital development and facilitating and promoting the development of an effective financial market infrastructure through the exchange of information and experience in developing legal, regulatory and supervisory frameworks for Islamic finance.
It will also involve promoting cross-border financial activities through exploring harmonisation of standards and documentation relating to Islamic finance transactions and promoting the consistent application of Islamic financial contracts for cross-border transactions.
“The signing of this MoU marks the beginning of a new area of cooperation between the HKMA and BNM,” said HKMA chief executive Joseph Yam. “It reflects our joint commitment to further develop the Islamic finance industry and paves the way for future initiatives that will benefit both Malaysia and Hong Kong.”
BNM governor Tan Sri Dr Zeti Akhtar Aziz said: “This effort which extends the cooperation in the area of Islamic finance will provide further opportunities for increased economic and financial flows between Hong Kong and Malaysia.”
Monday, 28 September 2009 22:08
KUALA LUMPUR: Bank Negara Malaysia (BNM) and the Hong Kong Monetary Authority (HKMA) have signed a memorandum of understanding (MoU) on cooperation in the development of the financial services industry, particularly in the area of Islamic finance.
In a joint statement on Sept 28, the central banks said under a long-term strategic partnership, they agreed to further strengthen cooperation in key areas such as capacity building and human capital development and facilitating and promoting the development of an effective financial market infrastructure through the exchange of information and experience in developing legal, regulatory and supervisory frameworks for Islamic finance.
It will also involve promoting cross-border financial activities through exploring harmonisation of standards and documentation relating to Islamic finance transactions and promoting the consistent application of Islamic financial contracts for cross-border transactions.
“The signing of this MoU marks the beginning of a new area of cooperation between the HKMA and BNM,” said HKMA chief executive Joseph Yam. “It reflects our joint commitment to further develop the Islamic finance industry and paves the way for future initiatives that will benefit both Malaysia and Hong Kong.”
BNM governor Tan Sri Dr Zeti Akhtar Aziz said: “This effort which extends the cooperation in the area of Islamic finance will provide further opportunities for increased economic and financial flows between Hong Kong and Malaysia.”
Wall Street snaps 3-day losing streak
Written by Reuters
Tuesday, 29 September 2009 06:59
NEW YORK: US stocks rallied on Monday, Sept 28 snapping a three-day losing streak, as a spurt of corporate takeovers in the TECHNOLOGY [] and health-care sectors fueled optimism about share values, according to Reuters.
Mergers and acquisitions are typically viewed as bullish as it suggests companies are more optimistic about the business outlook.
A number of deals were announced and investors bet more could follow. Xerox Corp agreed to buy Affiliated Computer Services Inc, and Abbott Laboratories said it would pay US$6.6 billion for Solvay's drug unit.
"It's always a positive sign when you see companies putting money to work, whether they buy other companies, invest in new plants, (or) buy back their own stock," said Tim Smalls, head of U.S. stock trading at brokerage firm Execution LLC in Greenwich, Connecticut.
"With depressed stock prices, like we've had over the past year and a half, a lot of companies will find it cheaper to buy a company than to grow that same type of company organically. It's a more effective way to put money to work sometimes."
The Dow Jones industrial average rose 124.17 points, or 1.28 percent, to end at 9,789.36. The Standard & Poor's 500 Index gained 18.60 points, or 1.78 percent, to 1,062.98. The Nasdaq Composite Index shot up 39.82 points, or 1.90 percent, to 2,130.74.
With Monday's gains, the Dow Jones industrial average held an advance of about 16 percent in the quarter so far, which would make it the index's best such period since the fourth quarter of 1998.
But the end of the third quarter on Wednesday may spur volatility as fund managers engage in what is known as "window dressing" -- when they sell laggards in favor of outperformers to spruce up portfolios at quarter's end.
In the last three sessions, the S&P 500 had declined more than 2 percent after rallying nearly 60 percent from the 12-year closing low of early March.
Abbott climbed 2.6 percent to US$48.58, while Affiliated Computer advanced 14 percent to US$53.86.
Xerox, which valued the cash-and-stock deal for Affiliated at an initial US$6.4 billion, sank 14.5 percent to US$7.68.
Other deals on Monday included U.S. diversified health-care company Johnson & Johnson's purchase of an 18 percent stake in biotech firm Crucell for 302 million euros (US$444 million) as part of a flu vaccine development deal, the Dutch company said on Monday.
The pharmaceuticals index climbed 1.3 percent.
Crucell fell 6.6 percent to US$22.13 on Nasdaq, but J&J, a Dow component, was up 1.1 percent at US$61.27 on the New York Stock Exchange. - Reuters
Tuesday, 29 September 2009 06:59
NEW YORK: US stocks rallied on Monday, Sept 28 snapping a three-day losing streak, as a spurt of corporate takeovers in the TECHNOLOGY [] and health-care sectors fueled optimism about share values, according to Reuters.
Mergers and acquisitions are typically viewed as bullish as it suggests companies are more optimistic about the business outlook.
A number of deals were announced and investors bet more could follow. Xerox Corp agreed to buy Affiliated Computer Services Inc, and Abbott Laboratories said it would pay US$6.6 billion for Solvay's drug unit.
"It's always a positive sign when you see companies putting money to work, whether they buy other companies, invest in new plants, (or) buy back their own stock," said Tim Smalls, head of U.S. stock trading at brokerage firm Execution LLC in Greenwich, Connecticut.
"With depressed stock prices, like we've had over the past year and a half, a lot of companies will find it cheaper to buy a company than to grow that same type of company organically. It's a more effective way to put money to work sometimes."
The Dow Jones industrial average rose 124.17 points, or 1.28 percent, to end at 9,789.36. The Standard & Poor's 500 Index gained 18.60 points, or 1.78 percent, to 1,062.98. The Nasdaq Composite Index shot up 39.82 points, or 1.90 percent, to 2,130.74.
With Monday's gains, the Dow Jones industrial average held an advance of about 16 percent in the quarter so far, which would make it the index's best such period since the fourth quarter of 1998.
But the end of the third quarter on Wednesday may spur volatility as fund managers engage in what is known as "window dressing" -- when they sell laggards in favor of outperformers to spruce up portfolios at quarter's end.
In the last three sessions, the S&P 500 had declined more than 2 percent after rallying nearly 60 percent from the 12-year closing low of early March.
Abbott climbed 2.6 percent to US$48.58, while Affiliated Computer advanced 14 percent to US$53.86.
Xerox, which valued the cash-and-stock deal for Affiliated at an initial US$6.4 billion, sank 14.5 percent to US$7.68.
Other deals on Monday included U.S. diversified health-care company Johnson & Johnson's purchase of an 18 percent stake in biotech firm Crucell for 302 million euros (US$444 million) as part of a flu vaccine development deal, the Dutch company said on Monday.
The pharmaceuticals index climbed 1.3 percent.
Crucell fell 6.6 percent to US$22.13 on Nasdaq, but J&J, a Dow component, was up 1.1 percent at US$61.27 on the New York Stock Exchange. - Reuters
Asian markets fall as yen rises
Written by Surin Murugiah
Tuesday, 29 September 2009 00:14
KUALA LUMPUR: Asian markets skidded on Sept 28 after Japan’s Nikkei 225 tumbled to its lowest level in two months as the yen appreciated to an eight-month high against the US dollar following reports that Japanese officials did not have any plans to stem the currency’s rise.
The rising yen piled pressure on the export-heavy Japanese stock exchange as a stronger currency makes exports less competitive.
However, the yen lost some ground later in the day as the country’s Finance Minister Hirohisa Fujii toned down his earlier statement on the possibility of a stronger Japanese currency and clarified that his statements were being distorted.
According to a Reuters report, Fujii was reported to have said that the root of the problem of the yen's rise against the US dollar was in the US policy and that markets would correct themselves.
On Sept 28, the yen traded as high as 88.24 per dollar, its highest since January when it spiked to a 13-year high of 87.10.
Apart from the yen worries, the weak US housing data last week did little to restore confidence in the dollar. European markets traded in negative territory on Sept 28 on concerns of weaker-than-expected US economic recovery and commodity prices continued their slide, keeping investors on the sidelines.
Crude palm oil (CPO) futures took a tumble on Sept 28 after Godrej International Ltd’s influential director Dorab Mistry said the price for the commodity should ease to RM1,900 per tonne for demand to rebound. Godrej is one of the biggest buyers of palm oil in India.
CPO for third-month delivery fell RM83 per tonne to RM2,103 on Sept 28.
Meanwhile, crude oil prices slipped as declines in Asian equities sparked worries of a slowdown in the recovery of demand for fuel. Crude oil fell 43 cents per barrel to US$65.59 (RM228.25) as at 6.20pm on Sept 28.
In regional markets, the Nikkei slumped 2.5% to 10,009.52 points; the Shanghai Composite Index lost 2.65% to 2,763.52, Hong Kong’s Hang Seng Index fell 2.07% to 20,588.41, the Singapore Straits Times Index slipped 1.26% to 2,629.25, the South Korean Kospi was down 0.94% to 1,675.55 and Taiwan's Taiex Index gave up 0.83% to 7,284.61.
On the local front, the FBM KLCI fell the most in a single day since Aug 17, losing 0.94% or 11.44 points to 1,205.95.
Turnover was 557.89 million shares valued at RM772.79 million. Losers beat gainers 471 to 181, while 220 counters traded unchanged.
MIDF Research Sdn Bhd head of research Zulkifli Hamzah said the global sentiment towards equity was currently a bit fragile, and Malaysia was no exception.
He said the local market had been partly weighed down by the trend in Wall Street and regional markets.
“After the strong gain in recent months, it is to be expected that the market will take a breather. Such an expectation is so pervasive, globally, that it has become somewhat self-fulfilling.
“Timing-wise, the onset of October is also keeping most investors edgy as it is the month of big market crashes. However, we do not foresee a repetition of last year’s October. Asian markets are still attracting global liquidity,” he said.
Zulkifli said the markets in Asia had been riding on strong macroeconomic numbers, especially on production and exports, adding that the concern now was whether the momentum was sustainable.
He said the market was living up to the old adage of selling on news, and as far as MIDF was concerned, any weakness would be an opportunity to accumulate.
“We don’t expect the 1,000 threshold to be broken because it means a retracement of more than 20%, which is by definition a bear market trend. The consensus appears to be a 5% correction, which is about 1,150,” Zulkifli said.
Maybank Investment Bank Bhd (Maybank IB) said the FBM KLCI could be under selling pressure this week if it rallied.
Resistance areas of 1,217 and 1,248 will cap market gains, while the support areas for the FBM KLCI are located at 1,196 and 1,213, it said.
“The Dow Jones Industrial Average lost about 155 points last week and there could be more weakness in the Asia-Pacific region,” Maybank IB said in a note on Sept 28.
On Bursa Malaysia on Sept 28, PLANTATION [] and finance stocks fell, with KL Kepong Bhd, BURSA MALAYSIA BHD [] and GENTING BHD [] among the major losers.
KL Kepong slumped 20 sen to RM13.78, while Bursa and Genting lost 19 sen each to RM8.08 and RM6.49. LAFARGE MALAYAN CEMENT BHD [] was the top loser, falling 23 sen to RM6.05.
Among plantations, FAR EAST HOLDINGS BHD [] fell 15 sen to RM6.15, IOI CORPORATION BHD [] was down 11 sen to RM5.23, BATU KAWAN BHD [] lost 10 sen to RM9.20 and KULIM (M) BHD [] slipped four sen to RM7.36.
In the finance sector, RHB CAPITAL BHD [] lost 15 sen to RM5.10; PUBLIC BANK BHD [], EON CAPITAL BHD [] and CIMB Group Bhd gave up six sen each to RM10.20, RM5.39 and RM11.10, respectively, while MALAYAN BANKING BHD [] eased three sen to RM6.65.
Other losers included MISC BHD [], S P Setia Bhd, Pos Malaysia Holdings Bhd, PETRONAS DAGANGAN BHD [] and KLCC PROPERTY HOLDINGS BHD [].
Among gainers, SINORA INDUSTRIES BHD [] and LOH & LOH CORPORATION BHD [] added 30 sen each to 91.5 sen and RM4.50; Panasonic Manufacturing Malaysia Bhd rose 18 sen to RM12.70 and ALAM MARITIM RESOURCES BHD [] was up 16 sen to RM1.97.
KNM GROUP BHD [] was the most actively traded counter with 32.54 million shares done. The stock declined 2.5 sen to 76 sen. Other top-volume stocks included SAAG CONSOLIDATED (M) BHD [], AIRASIA BHD [], UEM LAND HOLDINGS BHD [] and OILCORP BHD [].
Tuesday, 29 September 2009 00:14
KUALA LUMPUR: Asian markets skidded on Sept 28 after Japan’s Nikkei 225 tumbled to its lowest level in two months as the yen appreciated to an eight-month high against the US dollar following reports that Japanese officials did not have any plans to stem the currency’s rise.
The rising yen piled pressure on the export-heavy Japanese stock exchange as a stronger currency makes exports less competitive.
However, the yen lost some ground later in the day as the country’s Finance Minister Hirohisa Fujii toned down his earlier statement on the possibility of a stronger Japanese currency and clarified that his statements were being distorted.
According to a Reuters report, Fujii was reported to have said that the root of the problem of the yen's rise against the US dollar was in the US policy and that markets would correct themselves.
On Sept 28, the yen traded as high as 88.24 per dollar, its highest since January when it spiked to a 13-year high of 87.10.
Apart from the yen worries, the weak US housing data last week did little to restore confidence in the dollar. European markets traded in negative territory on Sept 28 on concerns of weaker-than-expected US economic recovery and commodity prices continued their slide, keeping investors on the sidelines.
Crude palm oil (CPO) futures took a tumble on Sept 28 after Godrej International Ltd’s influential director Dorab Mistry said the price for the commodity should ease to RM1,900 per tonne for demand to rebound. Godrej is one of the biggest buyers of palm oil in India.
CPO for third-month delivery fell RM83 per tonne to RM2,103 on Sept 28.
Meanwhile, crude oil prices slipped as declines in Asian equities sparked worries of a slowdown in the recovery of demand for fuel. Crude oil fell 43 cents per barrel to US$65.59 (RM228.25) as at 6.20pm on Sept 28.
In regional markets, the Nikkei slumped 2.5% to 10,009.52 points; the Shanghai Composite Index lost 2.65% to 2,763.52, Hong Kong’s Hang Seng Index fell 2.07% to 20,588.41, the Singapore Straits Times Index slipped 1.26% to 2,629.25, the South Korean Kospi was down 0.94% to 1,675.55 and Taiwan's Taiex Index gave up 0.83% to 7,284.61.
On the local front, the FBM KLCI fell the most in a single day since Aug 17, losing 0.94% or 11.44 points to 1,205.95.
Turnover was 557.89 million shares valued at RM772.79 million. Losers beat gainers 471 to 181, while 220 counters traded unchanged.
MIDF Research Sdn Bhd head of research Zulkifli Hamzah said the global sentiment towards equity was currently a bit fragile, and Malaysia was no exception.
He said the local market had been partly weighed down by the trend in Wall Street and regional markets.
“After the strong gain in recent months, it is to be expected that the market will take a breather. Such an expectation is so pervasive, globally, that it has become somewhat self-fulfilling.
“Timing-wise, the onset of October is also keeping most investors edgy as it is the month of big market crashes. However, we do not foresee a repetition of last year’s October. Asian markets are still attracting global liquidity,” he said.
Zulkifli said the markets in Asia had been riding on strong macroeconomic numbers, especially on production and exports, adding that the concern now was whether the momentum was sustainable.
He said the market was living up to the old adage of selling on news, and as far as MIDF was concerned, any weakness would be an opportunity to accumulate.
“We don’t expect the 1,000 threshold to be broken because it means a retracement of more than 20%, which is by definition a bear market trend. The consensus appears to be a 5% correction, which is about 1,150,” Zulkifli said.
Maybank Investment Bank Bhd (Maybank IB) said the FBM KLCI could be under selling pressure this week if it rallied.
Resistance areas of 1,217 and 1,248 will cap market gains, while the support areas for the FBM KLCI are located at 1,196 and 1,213, it said.
“The Dow Jones Industrial Average lost about 155 points last week and there could be more weakness in the Asia-Pacific region,” Maybank IB said in a note on Sept 28.
On Bursa Malaysia on Sept 28, PLANTATION [] and finance stocks fell, with KL Kepong Bhd, BURSA MALAYSIA BHD [] and GENTING BHD [] among the major losers.
KL Kepong slumped 20 sen to RM13.78, while Bursa and Genting lost 19 sen each to RM8.08 and RM6.49. LAFARGE MALAYAN CEMENT BHD [] was the top loser, falling 23 sen to RM6.05.
Among plantations, FAR EAST HOLDINGS BHD [] fell 15 sen to RM6.15, IOI CORPORATION BHD [] was down 11 sen to RM5.23, BATU KAWAN BHD [] lost 10 sen to RM9.20 and KULIM (M) BHD [] slipped four sen to RM7.36.
In the finance sector, RHB CAPITAL BHD [] lost 15 sen to RM5.10; PUBLIC BANK BHD [], EON CAPITAL BHD [] and CIMB Group Bhd gave up six sen each to RM10.20, RM5.39 and RM11.10, respectively, while MALAYAN BANKING BHD [] eased three sen to RM6.65.
Other losers included MISC BHD [], S P Setia Bhd, Pos Malaysia Holdings Bhd, PETRONAS DAGANGAN BHD [] and KLCC PROPERTY HOLDINGS BHD [].
Among gainers, SINORA INDUSTRIES BHD [] and LOH & LOH CORPORATION BHD [] added 30 sen each to 91.5 sen and RM4.50; Panasonic Manufacturing Malaysia Bhd rose 18 sen to RM12.70 and ALAM MARITIM RESOURCES BHD [] was up 16 sen to RM1.97.
KNM GROUP BHD [] was the most actively traded counter with 32.54 million shares done. The stock declined 2.5 sen to 76 sen. Other top-volume stocks included SAAG CONSOLIDATED (M) BHD [], AIRASIA BHD [], UEM LAND HOLDINGS BHD [] and OILCORP BHD [].
Khidmat perundangan kewangan Islam kini semakin penting: Zeti
KHIDMAT perundangan dalam kewangan Islam akan menjadi lebih penting berikutan kecekapan dan kemajuan industri itu, kata Gabenor Bank Negara Malaysia, Tan Sri Dr Zeti Akhtar Aziz. Beliau menegaskan, ini berikutan kekuatan kewangan Islam semasa krisis kewangan global berlaku, yang berjaya menambah minat, menerusi peningkatan tahap inovasi, skala dan bertambah kompleks transaksi yang juga semakin meningkat.
"Kerangka perundangan yang baik dalam kewangan Islam akan meningkatkan keyakinan awam terhadapnya, dan menawarkan platform yang membolehkan pengamal membangunkan produk kewangan yang kompleks dan inovatif bagi memenuhi permintaan pengguna yang pelbagai," katanya.
Zeti berkata demikian dalam ucaptamanya pada Seminar Keempat Lembaga Perkhidmatan Kewangan Islam (IFSB) mengenai Isu-isu Perundangan dalam Industri Perkhidmatan Kewangan Islam, di Kuala Lumpur, semalam.
Zeti juga berkata, kerangka kerja perundangan yang kukuh akan menawarkan mekanisme untuk penyelesaian pertikaian yang mengambil kira ciri berlainan bagi transaksi kewangan Islam.
"Di sinilah industri perkhidmatan perundangan memainkan peranan penting dalam menawarkan penyelesaian perundangan.
“Justeru, ia menawarkan jambatan yang penting antara ruang lingkup perundangan dan Syariah, yang membolehkan pengoperasian prinsip syariah dalam amalan kewangan Islam dilaksanakan secara sah," katanya.
Ini katanya, penting dalam menyediakan dokumentasi transaksi pembiayaan Islam bagi mengelak kekaburan serta tidak konsisten dan mengelak risiko dokumen perundangan dianggap tidak sah oleh mahkamah.
"Kerangka perundangan yang baik dalam kewangan Islam akan meningkatkan keyakinan awam terhadapnya, dan menawarkan platform yang membolehkan pengamal membangunkan produk kewangan yang kompleks dan inovatif bagi memenuhi permintaan pengguna yang pelbagai," katanya.
Zeti berkata demikian dalam ucaptamanya pada Seminar Keempat Lembaga Perkhidmatan Kewangan Islam (IFSB) mengenai Isu-isu Perundangan dalam Industri Perkhidmatan Kewangan Islam, di Kuala Lumpur, semalam.
Zeti juga berkata, kerangka kerja perundangan yang kukuh akan menawarkan mekanisme untuk penyelesaian pertikaian yang mengambil kira ciri berlainan bagi transaksi kewangan Islam.
"Di sinilah industri perkhidmatan perundangan memainkan peranan penting dalam menawarkan penyelesaian perundangan.
“Justeru, ia menawarkan jambatan yang penting antara ruang lingkup perundangan dan Syariah, yang membolehkan pengoperasian prinsip syariah dalam amalan kewangan Islam dilaksanakan secara sah," katanya.
Ini katanya, penting dalam menyediakan dokumentasi transaksi pembiayaan Islam bagi mengelak kekaburan serta tidak konsisten dan mengelak risiko dokumen perundangan dianggap tidak sah oleh mahkamah.
Isu global dorong ambil untung
Ulasan Pasan
SAHAM di Bursa Malaysia ditutup rendah semalam susulan aktiviti pengambilan untung apabila pelabur menjual saham berwajaran tinggi berikutan aliran harga menurun di pasaran Amerika Syarikat (AS), kata peniaga.
Pada penutup, Indeks Komposit FTSE Bursa Malaysia Kuala Lumpur susut 11.44 mata kepada 1,205.95 selepas dibuka 0.57 mata lebih rendah pada 1,216.82.
Penganalisis SJ Securities, Phua Kwee Hock, berkata pasaran melalui pembetulan kecil dan ia dijangka tidak turun di bawah paras 1,184.
“Pasaran mungkin menyaksikan paras sokongan pada 1,193 dan paras ketahanan pada 1,212. Aktiviti pengambilan untung lebih kepada isu global,” katanya.
Phua bekata, pasaran tempatan menjejaki pasaran AS yang melalui proses jualan baru-baru ini apabila Rizab Persekutuan AS membuat kenyataan supaya berhati-hati terhadap pemulihan ekonomi negara itu.
“Pelabur ambil kira nota Rizab Persekutuan itu dan menyesuaikannya dengan jangkaan mereka,” katanya.
Phua berkata, pasaran kekal rendah sehingga pertengahan Oktober, menjelang Bajet 2010 yang akan dibentangkan kerajaan pada 23 Oktober. FBMEmas susut 75.97 mata kepada 8,118.06, FBM Top 100 turun 76.92 mata kepada 7,908.92, FBM70 susut 85.27 mata kepada 8,015.06 dan Indeks FBM ACE turun 50.17 mata kepada 4,023.91.
Indeks teknologi turun 0.05 mata kepada 16.28, Indeks Kewangan susut 67.67 mata kepada 9,934.54, Indeks Perladangan turun 83.85 mata kepada 5,909.14 dan Indeks Perusahaan merekodkan 21.8 mata lebih rendah pada 2,645.29. Kaunter rugi mengatasi kaunter untung sebanyak 469 berbanding 145, 183 kaunter tidak berubah dan 461 tidak diniagakan.
Jumlah dagangan berkurangan kepada 454.117 juta saham bernilai RM605.403 juta berbanding 688.772 juta saham bernilai RM945.180 juta pada Jumaat.
Saham yang mencatatkan kerugian tertinggi termasuk KLK, yang turun 24 sen kepada RM13.74, LMCement rugi 23 sen kepada RM6.05 dan SP Setia susut 20 sen kepada RM4.Antara saham aktif, KNM susut 2.5 sen kepada 76 sen, SAAG turun setengah sen kepada 23 sen manakala Jadi Imaging menokok setengah sen kepada 21 sen.
Antara kaunter saham berwajaran tinggi yang mengalami kejatuhan termasuk syarikat perladangan seperti Sime Darby yang susut enam sen kepada RM8.52, IOI Corp turun 14 sen kepada RM5.20 dan PPB Group rugi 10 sen kepada RM15.92.
Bagi sektor perbankan, Maybank turun dua sen kepada RM6.66, CIMB Group dan Public Bank, masing-masing susut enam sen kepada RM11.10 dan RM10.20, manakala RHB Capital turun 15 sen kepada RM5.10.
Tenaga Nasional turun dua sen kepada RM8.18, Axiata susut tiga sen kepada RM3.14, manakala Genting rugi 19 sen kepada RM9.
Di Pasaran Utama, jumlah dagangan berkurangan kepada 416.577 juta saham bernilai RM595.463 juta berbanding 632.296 juta saham bernilai RM929.450 juta pada Jumaat. Jumlah dagangan di Pasaran ACE turun kepada 20.852 juta saham bernilai RM5.445 juta berbanding 31.587 juta saham bernilai RM8.74 juta sebelumnya. Dagangan warrant juga susut kepada 14.104 juta unit bernilai RM3.367 juta berbanding 19.463 juta unit bernilai RM5.095 juta sebelumnya.
Barangan pengguna menyumbang sebanyak 36.684 juta saham yang didagangkan di Pasaran Utama, barangan perindustrian sebanyak 96.829 juta, pembinaan 32.1 juta, perdagangan dan perkhidmatan 150.591 juta, teknologi 14.287 juta, infrastruktur 2.846 juta, kewangan 30.592 juta, hotel 3.19 juta, hartanah 42.325 juta, perladangan 5.812 juta, perlombongan 60,000, REIT 1.275 juta dan dana tertutup 72,000. - Bernama
SAHAM di Bursa Malaysia ditutup rendah semalam susulan aktiviti pengambilan untung apabila pelabur menjual saham berwajaran tinggi berikutan aliran harga menurun di pasaran Amerika Syarikat (AS), kata peniaga.
Pada penutup, Indeks Komposit FTSE Bursa Malaysia Kuala Lumpur susut 11.44 mata kepada 1,205.95 selepas dibuka 0.57 mata lebih rendah pada 1,216.82.
Penganalisis SJ Securities, Phua Kwee Hock, berkata pasaran melalui pembetulan kecil dan ia dijangka tidak turun di bawah paras 1,184.
“Pasaran mungkin menyaksikan paras sokongan pada 1,193 dan paras ketahanan pada 1,212. Aktiviti pengambilan untung lebih kepada isu global,” katanya.
Phua bekata, pasaran tempatan menjejaki pasaran AS yang melalui proses jualan baru-baru ini apabila Rizab Persekutuan AS membuat kenyataan supaya berhati-hati terhadap pemulihan ekonomi negara itu.
“Pelabur ambil kira nota Rizab Persekutuan itu dan menyesuaikannya dengan jangkaan mereka,” katanya.
Phua berkata, pasaran kekal rendah sehingga pertengahan Oktober, menjelang Bajet 2010 yang akan dibentangkan kerajaan pada 23 Oktober. FBMEmas susut 75.97 mata kepada 8,118.06, FBM Top 100 turun 76.92 mata kepada 7,908.92, FBM70 susut 85.27 mata kepada 8,015.06 dan Indeks FBM ACE turun 50.17 mata kepada 4,023.91.
Indeks teknologi turun 0.05 mata kepada 16.28, Indeks Kewangan susut 67.67 mata kepada 9,934.54, Indeks Perladangan turun 83.85 mata kepada 5,909.14 dan Indeks Perusahaan merekodkan 21.8 mata lebih rendah pada 2,645.29. Kaunter rugi mengatasi kaunter untung sebanyak 469 berbanding 145, 183 kaunter tidak berubah dan 461 tidak diniagakan.
Jumlah dagangan berkurangan kepada 454.117 juta saham bernilai RM605.403 juta berbanding 688.772 juta saham bernilai RM945.180 juta pada Jumaat.
Saham yang mencatatkan kerugian tertinggi termasuk KLK, yang turun 24 sen kepada RM13.74, LMCement rugi 23 sen kepada RM6.05 dan SP Setia susut 20 sen kepada RM4.Antara saham aktif, KNM susut 2.5 sen kepada 76 sen, SAAG turun setengah sen kepada 23 sen manakala Jadi Imaging menokok setengah sen kepada 21 sen.
Antara kaunter saham berwajaran tinggi yang mengalami kejatuhan termasuk syarikat perladangan seperti Sime Darby yang susut enam sen kepada RM8.52, IOI Corp turun 14 sen kepada RM5.20 dan PPB Group rugi 10 sen kepada RM15.92.
Bagi sektor perbankan, Maybank turun dua sen kepada RM6.66, CIMB Group dan Public Bank, masing-masing susut enam sen kepada RM11.10 dan RM10.20, manakala RHB Capital turun 15 sen kepada RM5.10.
Tenaga Nasional turun dua sen kepada RM8.18, Axiata susut tiga sen kepada RM3.14, manakala Genting rugi 19 sen kepada RM9.
Di Pasaran Utama, jumlah dagangan berkurangan kepada 416.577 juta saham bernilai RM595.463 juta berbanding 632.296 juta saham bernilai RM929.450 juta pada Jumaat. Jumlah dagangan di Pasaran ACE turun kepada 20.852 juta saham bernilai RM5.445 juta berbanding 31.587 juta saham bernilai RM8.74 juta sebelumnya. Dagangan warrant juga susut kepada 14.104 juta unit bernilai RM3.367 juta berbanding 19.463 juta unit bernilai RM5.095 juta sebelumnya.
Barangan pengguna menyumbang sebanyak 36.684 juta saham yang didagangkan di Pasaran Utama, barangan perindustrian sebanyak 96.829 juta, pembinaan 32.1 juta, perdagangan dan perkhidmatan 150.591 juta, teknologi 14.287 juta, infrastruktur 2.846 juta, kewangan 30.592 juta, hotel 3.19 juta, hartanah 42.325 juta, perladangan 5.812 juta, perlombongan 60,000, REIT 1.275 juta dan dana tertutup 72,000. - Bernama
Pengambilan untung dagangan Bursa lemah
KUALA LUMPUR 28 Sept - Saham-saham di Bursa Malaysia ditutup rendah hari ini susulan aktiviti pengambilan untung apabila pelabur menjual saham-saham berwajaran tinggi berikutan aliran harga menurun di pasaran Amerika Syarikat (AS), kata peniaga.
Pada penutup, Indeks Komposit FTSE Bursa Malaysia Kuala Lumpur susut 11.44 mata kepada 1,205.95 selepas dibuka 0.57 mata lebih rendah pada 1,216.82.
FBMEmas susut 75.97 mata kepada 8,118.06, FBM Top 100 turun 76.92 mata kepada 7,908.92, FBM70 susut 85.27 mata kepada 8,015.06 dan Indeks FBM ACE turun 50.17 mata kepada 4,023.91. Indeks teknologi turun 0.05 mata kepada 16.28, Indeks Kewangan susut 67.67 mata kepada 9,934.54, Indeks Perladangan turun 83.85 mata kepada 5,909.14 dan Indeks Perusahaan merekodkan 21.8 mata lebih rendah pada 2,645.29.
Kaunter rugi mengatasi kaunter untung sebanyak 469 berbanding 145, 183 kaunter tidak berubah dan 461 tidak diniagakan. Jumlah dagangan berkurangan kepada 454.117 juta saham bernilai RM605.403 juta berbanding 688.772 juta saham bernilai RM945.180 juta pada Jumaat.
Saham-saham yang mencatatkan kerugian tertinggi termasuklah KLK, yang turun 24 sen kepada RM13.74, LMCement rugi 23 sen kepada RM6.05 dan SP Setia susut 20 sen kepada RM4.
Antara saham aktif, KNM susut 2.5 sen kepada 76 sen, SAAG turun setengah sen kepada 23 sen manakala Jadi Imaging menokok setengah sen kepada 21 sen.
Di Pasaran Utama, jumlah dagangan berkurangan kepada 416.577 juta saham bernilai RM595.463 juta berbanding 632.296 juta saham bernilai RM929.450 juta pada Jumaat. Jumlah dagangan di Pasaran ACE turun kepada 20.852 juta saham bernilai RM5.445 juta berbanding 31.587 juta saham bernilai RM8.74 juta sebelumnya.
Dagangan waran juga susut kepada 14.104 juta unit bernilai RM3.367 juta berbanding 19.463 juta unit bernilai RM5.095 juta sebelumnya.
Barangan pengguna menyumbang sebanyak 36.684 juta saham yang didagangkan di Pasaran Utama, barangan perindustrian sebanyak 96.829 juta, pembinaan 32.1 juta, perdagangan dan perkhidmatan 150.591 juta, teknologi 14.287 juta, infrastruktur 2.846 juta, kewangan 30.592 juta, hotel 3.19 juta, hartanah 42.325 juta, perladangan 5.812 juta, perlombongan 60,000, REIT 1.275 juta dan dana tertutup 72,000.
- Bernama
Pada penutup, Indeks Komposit FTSE Bursa Malaysia Kuala Lumpur susut 11.44 mata kepada 1,205.95 selepas dibuka 0.57 mata lebih rendah pada 1,216.82.
FBMEmas susut 75.97 mata kepada 8,118.06, FBM Top 100 turun 76.92 mata kepada 7,908.92, FBM70 susut 85.27 mata kepada 8,015.06 dan Indeks FBM ACE turun 50.17 mata kepada 4,023.91. Indeks teknologi turun 0.05 mata kepada 16.28, Indeks Kewangan susut 67.67 mata kepada 9,934.54, Indeks Perladangan turun 83.85 mata kepada 5,909.14 dan Indeks Perusahaan merekodkan 21.8 mata lebih rendah pada 2,645.29.
Kaunter rugi mengatasi kaunter untung sebanyak 469 berbanding 145, 183 kaunter tidak berubah dan 461 tidak diniagakan. Jumlah dagangan berkurangan kepada 454.117 juta saham bernilai RM605.403 juta berbanding 688.772 juta saham bernilai RM945.180 juta pada Jumaat.
Saham-saham yang mencatatkan kerugian tertinggi termasuklah KLK, yang turun 24 sen kepada RM13.74, LMCement rugi 23 sen kepada RM6.05 dan SP Setia susut 20 sen kepada RM4.
Antara saham aktif, KNM susut 2.5 sen kepada 76 sen, SAAG turun setengah sen kepada 23 sen manakala Jadi Imaging menokok setengah sen kepada 21 sen.
Di Pasaran Utama, jumlah dagangan berkurangan kepada 416.577 juta saham bernilai RM595.463 juta berbanding 632.296 juta saham bernilai RM929.450 juta pada Jumaat. Jumlah dagangan di Pasaran ACE turun kepada 20.852 juta saham bernilai RM5.445 juta berbanding 31.587 juta saham bernilai RM8.74 juta sebelumnya.
Dagangan waran juga susut kepada 14.104 juta unit bernilai RM3.367 juta berbanding 19.463 juta unit bernilai RM5.095 juta sebelumnya.
Barangan pengguna menyumbang sebanyak 36.684 juta saham yang didagangkan di Pasaran Utama, barangan perindustrian sebanyak 96.829 juta, pembinaan 32.1 juta, perdagangan dan perkhidmatan 150.591 juta, teknologi 14.287 juta, infrastruktur 2.846 juta, kewangan 30.592 juta, hotel 3.19 juta, hartanah 42.325 juta, perladangan 5.812 juta, perlombongan 60,000, REIT 1.275 juta dan dana tertutup 72,000.
- Bernama
BNM, HKMA majukan kewangan Islam
KUALA LUMPUR 28 Sept. - Hong Kong Monetary Authority (HKMA) dan Bank Negara Malaysia (BNM) menandatangani memorandum persefahaman (MoU) untuk memajukan kewangan Islam.
HKMA dan BNM hari ini membuat pengumuman bersama mengenai MoU berhubung kerjasama dalam pembangunan industri perkhidmatan kewangan, terutamanya dalam bidang kewangan Islam.
Ketua Eksekutif HKMA, Joseph Yam berkata, bagi mencapai perkongsian strategik jangka panjang di bawah MoU ini, kedua-dua belah pihak bersetuju untuk mengukuhkan lagi kerjasama dalam beberapa bidang utama.
"Antaranya bina upaya dan pembangunan modal insan, memudahkan dan menggalakkan pembangunan infrastruktur pasaran kewangan yang efektif melalui pertukaran maklumat dan pengalaman dalam pembangunan rangka kerja perundangan, pengawalan dan penyeliaan bagi kewangan Islam.
"Menggalakkan aktiviti kewangan merentas sempadan melalui usaha pengharmonian piawaian dan dokumentasi berkaitan urus niaga kewangan Islam dan menggalakkan penggunaan kontrak kewangan Islam secara konsisten bagi urus niaga merentas sempadan,'' katanya dalam kenyataan dikeluarkan di sini hari ini.
Tambah Joseph, MoU ini menandakan permulaan era baharu kerjasama antara HKMA dengan BNM dan mencerminkan komitmen bersama untuk meneruskan pembangunan industri kewangan Islam dan merintis jalan bagi inisiatif pada masa depan yang akan memanfaatkan kedua buah negara.
Sementara itu, Gabenor BNM, Tan Sri Dr. Zeti Akhtar Aziz berkata, usaha yang merangkumi kerjasama dalam bidang kewangan Islam itu akan membuka lagi peluang untuk meningkatkan aliran ekonomi dan kewangan antara Hong Kong dengan Malaysia.
HKMA dan BNM hari ini membuat pengumuman bersama mengenai MoU berhubung kerjasama dalam pembangunan industri perkhidmatan kewangan, terutamanya dalam bidang kewangan Islam.
Ketua Eksekutif HKMA, Joseph Yam berkata, bagi mencapai perkongsian strategik jangka panjang di bawah MoU ini, kedua-dua belah pihak bersetuju untuk mengukuhkan lagi kerjasama dalam beberapa bidang utama.
"Antaranya bina upaya dan pembangunan modal insan, memudahkan dan menggalakkan pembangunan infrastruktur pasaran kewangan yang efektif melalui pertukaran maklumat dan pengalaman dalam pembangunan rangka kerja perundangan, pengawalan dan penyeliaan bagi kewangan Islam.
"Menggalakkan aktiviti kewangan merentas sempadan melalui usaha pengharmonian piawaian dan dokumentasi berkaitan urus niaga kewangan Islam dan menggalakkan penggunaan kontrak kewangan Islam secara konsisten bagi urus niaga merentas sempadan,'' katanya dalam kenyataan dikeluarkan di sini hari ini.
Tambah Joseph, MoU ini menandakan permulaan era baharu kerjasama antara HKMA dengan BNM dan mencerminkan komitmen bersama untuk meneruskan pembangunan industri kewangan Islam dan merintis jalan bagi inisiatif pada masa depan yang akan memanfaatkan kedua buah negara.
Sementara itu, Gabenor BNM, Tan Sri Dr. Zeti Akhtar Aziz berkata, usaha yang merangkumi kerjasama dalam bidang kewangan Islam itu akan membuka lagi peluang untuk meningkatkan aliran ekonomi dan kewangan antara Hong Kong dengan Malaysia.
September 28, 2009
Pesaing memburukkan & menjatuhkan anda… (bhg 2)
Thu 3 Sep 2009
Posted by Irfan Khairi under Tip Perniagaan
Sekiranya ianya terjadi kepada anda, jangan sesekali membalas dengan memburukkan perniagaan pesaing kembali. Ini adalah kerana, sekiranya anda melakukan ini, anda pula akan dilihat sebagai memburukkan perniagaan lain dan 10 orang akan memburukkan anda. Dalam erti kata lain, “buat tak tau” sahaja… tetapi, jelaskan pada perniagaan anda segala manfaat, kelebihan dan kekuatan yang ada pada perniagaan anda.
Sekiranya terdapat pesaing memburukkan anda, tambahkan ilmu dan tambahkan kekuatan perniagaan sendiri sehingga ianya menjadi amat sukar untuk pesaing menyaingi anda.Tujuan utama pesaing memburukkan anda adalah untuk menjatuhkan anda, dan menaikkan nama mereka. Memandangkan ini tujuan utama, maka, anda perlu bersedia dalam pelbagai aspek- terutama ilmu perniagaan.
Tingkatkan ilmu perniagaan anda sehingga anda sendiri mendapat lebih ramai pelanggan dan pasaran sehingga sukar untuk sesiapa menyaingi anda.Tidak perlu bergaduh atau berlawan dengan pesaing anda oleh kerana ianya hanya akan membuang masa anda di mana tiada siapa yang akan menang.
Tetapi, dengan ilmu, anda boleh melepasi semua pesaing anda sehingga apa sahaja teknik kurang baik yang digunakan oleh pesaing anda tidak akan menjadi keatas anda. Malah, ia akan menjatuhkan pesaing anda sendiri.
Fikir sejenak… sekiranya gerai burger cuba memburukkan McDonalds, adakah ia akan menjatuhkan kredibiliti gerai burger tersebut? adakah ia akan menganggu keuntungan McDonalds? Adakah McDonalds akan membalas balik dan memburukkan gerai burger tersebut?
Jawapan: Lengkapkan ilmu perniagaan anda sehingga jurang perniagaan anda dan pesaing anda menjadi seperti McDonalds dan gerai burger! THINK BIG!
Posted by Irfan Khairi under Tip Perniagaan
Sekiranya ianya terjadi kepada anda, jangan sesekali membalas dengan memburukkan perniagaan pesaing kembali. Ini adalah kerana, sekiranya anda melakukan ini, anda pula akan dilihat sebagai memburukkan perniagaan lain dan 10 orang akan memburukkan anda. Dalam erti kata lain, “buat tak tau” sahaja… tetapi, jelaskan pada perniagaan anda segala manfaat, kelebihan dan kekuatan yang ada pada perniagaan anda.
Sekiranya terdapat pesaing memburukkan anda, tambahkan ilmu dan tambahkan kekuatan perniagaan sendiri sehingga ianya menjadi amat sukar untuk pesaing menyaingi anda.Tujuan utama pesaing memburukkan anda adalah untuk menjatuhkan anda, dan menaikkan nama mereka. Memandangkan ini tujuan utama, maka, anda perlu bersedia dalam pelbagai aspek- terutama ilmu perniagaan.
Tingkatkan ilmu perniagaan anda sehingga anda sendiri mendapat lebih ramai pelanggan dan pasaran sehingga sukar untuk sesiapa menyaingi anda.Tidak perlu bergaduh atau berlawan dengan pesaing anda oleh kerana ianya hanya akan membuang masa anda di mana tiada siapa yang akan menang.
Tetapi, dengan ilmu, anda boleh melepasi semua pesaing anda sehingga apa sahaja teknik kurang baik yang digunakan oleh pesaing anda tidak akan menjadi keatas anda. Malah, ia akan menjatuhkan pesaing anda sendiri.
Fikir sejenak… sekiranya gerai burger cuba memburukkan McDonalds, adakah ia akan menjatuhkan kredibiliti gerai burger tersebut? adakah ia akan menganggu keuntungan McDonalds? Adakah McDonalds akan membalas balik dan memburukkan gerai burger tersebut?
Jawapan: Lengkapkan ilmu perniagaan anda sehingga jurang perniagaan anda dan pesaing anda menjadi seperti McDonalds dan gerai burger! THINK BIG!
Elevator pitch… adakah anda memilikinya?
Tue 8 Sep 2009
Posted by Irfan Khairi under Tip Perniagaan
Dalam pemasaran era baru, terdapat teknik menjual yang dikenali sebagai elevator pitch. Elevator = lif.. pitch = kata-kata menjual.
Maksud elevator pitch, bukannya anda menjual dan lakukan promosi ketika di dalam lif
Tetapi, maksudnya adalah untuk anda ciptakan satu “selling pitch” atau “kata-kata jualan” yang khas yang panjangnya dalam lingkungan 15-20 saat. Elevator pitch adalah terbaik oleh kerana ia akan membezakan anda dnegan pesaing-pesaing anda. Namanya dikenali sebagai “elevator pitch” kerana kononnya seumpama anda perlu promosi dalam jangka masa pendedk seperti di dalam lif.
Contoh:
Sekiranya anda seorang penasihat kewangan, apabila di tanya “apa anda buat?”, sering kali jawapannya adalah “Penasihat Kewangan”
Tetapi, sekiranya anda mempunyai elevator pitch, jawapan anda adalah:
“Saya membantu mereka yang dalam kesusahan kewangan untuk mengurus kewangan mereka dengan lebih sempurna dan menambahkan lagi pendapatan tanpa usaha dengan cara melaburkan simpanan yang sedia ada”
Sekiranya anda seorang konsultan Internet:
“Saya membantu perniagaan menambahkan keuntungan perniagaan mereka sebanyak 200% dengan memperkenalkan kaedah dan strategi perniagaan Internet yang mudah dan murah”
Elevator pitch adalah apabila anda menjelaskan apa yang anda lakukan (perniagaan anda) dengan lebih sempurna dan lengkap. Tidak lagi menjawab pertanyaan orang dengan “saya seorang arkitek” atau “saya seorang ejen hartanah” atau “saya seorang akauntan”.
Elevator pitch pastinya membezakan anda dengan pesaing-pesaing anda yang lain
Jadi, kongsikan elevator pitch anda di sini… siapa berani? (cabaran ni… siapa nak sahut?)
Posted by Irfan Khairi under Tip Perniagaan
Dalam pemasaran era baru, terdapat teknik menjual yang dikenali sebagai elevator pitch. Elevator = lif.. pitch = kata-kata menjual.
Maksud elevator pitch, bukannya anda menjual dan lakukan promosi ketika di dalam lif
Tetapi, maksudnya adalah untuk anda ciptakan satu “selling pitch” atau “kata-kata jualan” yang khas yang panjangnya dalam lingkungan 15-20 saat. Elevator pitch adalah terbaik oleh kerana ia akan membezakan anda dnegan pesaing-pesaing anda. Namanya dikenali sebagai “elevator pitch” kerana kononnya seumpama anda perlu promosi dalam jangka masa pendedk seperti di dalam lif.
Contoh:
Sekiranya anda seorang penasihat kewangan, apabila di tanya “apa anda buat?”, sering kali jawapannya adalah “Penasihat Kewangan”
Tetapi, sekiranya anda mempunyai elevator pitch, jawapan anda adalah:
“Saya membantu mereka yang dalam kesusahan kewangan untuk mengurus kewangan mereka dengan lebih sempurna dan menambahkan lagi pendapatan tanpa usaha dengan cara melaburkan simpanan yang sedia ada”
Sekiranya anda seorang konsultan Internet:
“Saya membantu perniagaan menambahkan keuntungan perniagaan mereka sebanyak 200% dengan memperkenalkan kaedah dan strategi perniagaan Internet yang mudah dan murah”
Elevator pitch adalah apabila anda menjelaskan apa yang anda lakukan (perniagaan anda) dengan lebih sempurna dan lengkap. Tidak lagi menjawab pertanyaan orang dengan “saya seorang arkitek” atau “saya seorang ejen hartanah” atau “saya seorang akauntan”.
Elevator pitch pastinya membezakan anda dengan pesaing-pesaing anda yang lain
Jadi, kongsikan elevator pitch anda di sini… siapa berani? (cabaran ni… siapa nak sahut?)
Di mana tahap kewangan anda
Fri 11 Sep 2009
Posted by Irfan Khairi under Tip Kewangan
Baru-baru ini slot Radio saya telah bertukar dari rancangan “Yo!” kepada “Irfan on Air”. Irfan on Air berkonsep seperti blog anda baca ini, menyampaikan tip perniagaan, kewangan dan juga motivasi cara santai dan insyaallah happening! Saya juga membuka talian telefon untuk pendengar radio24 berkongsikan pengalaman, tip atau pun soalan bersama saya
Semalam di Radio24, program “Irfan on Air” (Setiap hari Khamis 2.15pm) saya kongsikan mengenai 4 tahap kewangan seseorang itu.
Berikut adalah 4 tahap tersebut…
#1: Kewangan tidak selamat (Finacially not secure)
Keadaan ini adalah apabila jika anda tidak mempunyai simpanan pun. Dalam erti kata lain, sekiranya ada pun simpanan anda hanya mampu menyara hidup anda dan keluarga selama sebulan sahaja. Sekiranya anda hilang kerja esok, sebulan sahaja anda dapat hidup dengan wang simpanan yang ada.
Tahap ini amat tidak selamat bagi sesiapapun. Boleh diumpamakan sebagai kais pagi-makan pagi… kais petang makan petang. Zaman modern ini, seumpama kais bulan ni, makan bulan ni… kais bulan depan, makan bulan depan
Masalahnya, ramai antara kita berada dalam keadaan yang tidak selamat ini…
#2: Kewangan Selamat (Financially secure)
Ini adalah pilihan yang lebih baik. Ertinya, umpamanya sekiranya anda berhenti kerja (atau dinberhentikan ) anda mempunyai simpanan untuk menyara hidup anda dan keluarga anda selama 6 bulan. Sekiranya anda berada dalam tahap ini, tahniah! keran tidak ramai yang berada di sini.
6 bulan adalah jangka waktu yang logik untuk seseorang itu mendapatkan kerja lain atau memulakan perniagaan untuk menyambung pendapatan sara hidup. matlamat utama anda sekiranya anda berada di tahap #1 adalah untuk mencapai tahap ini… cukupkan simpanan anda untuk menyara 6 bulan hidup anda dan keluarga- tanpa perlu kerja!
#3: Bebas kewangan / Mandiri kewangan (Financially Free)
Ini adalah matlamat bagi ramai antara kita. Tetapi, yang mencapainya adalah amat sedikit. Ertinya sekiranya anda berada di tahap ini adalah- anda bebas untuk membuat pilihan untuk bekerja ataupun tidak! Anda mempunyai simpanan atau pun aliran pendapatan secara automatik yang cukup untuk menyara hidup anda sekeluarga sampai bila-bila!
Tahap ini, anda tidak perlu kerja lagi (atau menjalankan perniagaan). namun begitu, ramai yang berada di tahap ini, masih lagi meneruskan karier atau perniagaan kerana berasa seronok melakukannya. Bukan kerana terpaksa, tetapi dengan sukarela…
Tips untuk mencapai keadaan ini adalah fikirkan aliran pendapatan berganda secara automatik, contoh seperti menyewa rumah, membina perniagaan yang dikendalikan secara automatik (perniagaan Internet) atau membina perniagaan yang dikendalikan oleh orang lain (mungkin pengurus).
#4: Tahap Kaya Giler (… ya.. memang saya sebut kaya Giler di radio!) atau Ultra Rich
Tahap ini lagi la sedikit yang capai… teramat sedikit. Mereka ini jenis yang mempunyai wang yang banyak sehingga tak terpakai wang yang dimiliki. Boleh derma beratus ribu ringgit atau berjuta… (kita nak dapat beratus ribu pun payah ) nama nama seperti Tan Sri Mokhtar Bukhari, Tan Sri Daim Zainuddin, mendiang Tan Sri Lim Goh Tong dan Tan Sri Ananda Krishnan.
Itulah 4 tahap kekayaan yang saya kongsikan di “Irfan on Air”. Sekiranya anda ikuti semalam, saya juga kongsikan teknik dan strategi bagaimana hendak meningkatkan tahap anda dari 1-2-3-dan-4. Insyaallah saya akan konsikan pada hari lain. Buat masa ini, kita faham dulu kedudukan kewangan kita…
Soalan cepu gangsa untuk hari Jumaat ini…
Anda berada dalam kedudukan yang mana?
*Tak perlu jawap di sini pun takpe. Just jawap dalam hati… yang penting kita sedar kedudukan kewangan kita dan berusaha untuk tingkatkan ke tahap yang seterusnya
Posted by Irfan Khairi under Tip Kewangan
Baru-baru ini slot Radio saya telah bertukar dari rancangan “Yo!” kepada “Irfan on Air”. Irfan on Air berkonsep seperti blog anda baca ini, menyampaikan tip perniagaan, kewangan dan juga motivasi cara santai dan insyaallah happening! Saya juga membuka talian telefon untuk pendengar radio24 berkongsikan pengalaman, tip atau pun soalan bersama saya
Semalam di Radio24, program “Irfan on Air” (Setiap hari Khamis 2.15pm) saya kongsikan mengenai 4 tahap kewangan seseorang itu.
Berikut adalah 4 tahap tersebut…
#1: Kewangan tidak selamat (Finacially not secure)
Keadaan ini adalah apabila jika anda tidak mempunyai simpanan pun. Dalam erti kata lain, sekiranya ada pun simpanan anda hanya mampu menyara hidup anda dan keluarga selama sebulan sahaja. Sekiranya anda hilang kerja esok, sebulan sahaja anda dapat hidup dengan wang simpanan yang ada.
Tahap ini amat tidak selamat bagi sesiapapun. Boleh diumpamakan sebagai kais pagi-makan pagi… kais petang makan petang. Zaman modern ini, seumpama kais bulan ni, makan bulan ni… kais bulan depan, makan bulan depan
Masalahnya, ramai antara kita berada dalam keadaan yang tidak selamat ini…
#2: Kewangan Selamat (Financially secure)
Ini adalah pilihan yang lebih baik. Ertinya, umpamanya sekiranya anda berhenti kerja (atau dinberhentikan ) anda mempunyai simpanan untuk menyara hidup anda dan keluarga anda selama 6 bulan. Sekiranya anda berada dalam tahap ini, tahniah! keran tidak ramai yang berada di sini.
6 bulan adalah jangka waktu yang logik untuk seseorang itu mendapatkan kerja lain atau memulakan perniagaan untuk menyambung pendapatan sara hidup. matlamat utama anda sekiranya anda berada di tahap #1 adalah untuk mencapai tahap ini… cukupkan simpanan anda untuk menyara 6 bulan hidup anda dan keluarga- tanpa perlu kerja!
#3: Bebas kewangan / Mandiri kewangan (Financially Free)
Ini adalah matlamat bagi ramai antara kita. Tetapi, yang mencapainya adalah amat sedikit. Ertinya sekiranya anda berada di tahap ini adalah- anda bebas untuk membuat pilihan untuk bekerja ataupun tidak! Anda mempunyai simpanan atau pun aliran pendapatan secara automatik yang cukup untuk menyara hidup anda sekeluarga sampai bila-bila!
Tahap ini, anda tidak perlu kerja lagi (atau menjalankan perniagaan). namun begitu, ramai yang berada di tahap ini, masih lagi meneruskan karier atau perniagaan kerana berasa seronok melakukannya. Bukan kerana terpaksa, tetapi dengan sukarela…
Tips untuk mencapai keadaan ini adalah fikirkan aliran pendapatan berganda secara automatik, contoh seperti menyewa rumah, membina perniagaan yang dikendalikan secara automatik (perniagaan Internet) atau membina perniagaan yang dikendalikan oleh orang lain (mungkin pengurus).
#4: Tahap Kaya Giler (… ya.. memang saya sebut kaya Giler di radio!) atau Ultra Rich
Tahap ini lagi la sedikit yang capai… teramat sedikit. Mereka ini jenis yang mempunyai wang yang banyak sehingga tak terpakai wang yang dimiliki. Boleh derma beratus ribu ringgit atau berjuta… (kita nak dapat beratus ribu pun payah ) nama nama seperti Tan Sri Mokhtar Bukhari, Tan Sri Daim Zainuddin, mendiang Tan Sri Lim Goh Tong dan Tan Sri Ananda Krishnan.
Itulah 4 tahap kekayaan yang saya kongsikan di “Irfan on Air”. Sekiranya anda ikuti semalam, saya juga kongsikan teknik dan strategi bagaimana hendak meningkatkan tahap anda dari 1-2-3-dan-4. Insyaallah saya akan konsikan pada hari lain. Buat masa ini, kita faham dulu kedudukan kewangan kita…
Soalan cepu gangsa untuk hari Jumaat ini…
Anda berada dalam kedudukan yang mana?
*Tak perlu jawap di sini pun takpe. Just jawap dalam hati… yang penting kita sedar kedudukan kewangan kita dan berusaha untuk tingkatkan ke tahap yang seterusnya
CPO futures' technical rebound still in progress
Published: 2009/09/28
OBSERVATIONS: External factors and events weighed on the Kuala Lumpur CPO futures market at first, but a much improved - indeed, a much better-than-expected - export performance saved the day for the local market.
The actively-traded December 2009 dropped to intra-week low of RM2,089 but strong buying interest emerged at the eleventh hour, giving this market a strong lift. Settling last Friday at RM2,186 a tonne, the benchmark contract closed almost unchanged from the previous week, down a mere RM4 over the week.
Strength in the US dollar early last week was the catalyst that sent crude oil plunging below US$70 a barrel, and which chilled commodity markets overall.
World edible oil markets also came under downside pressure due to expectations for a bumper US soyabean crop. US soyabeans are harvested from October through November and weather conditions are said to be perfect. US soyabean oil for October delivery on the Chicago Board of Trade closed last Friday at 34.68 US cents a pound, down 64 points or 1.85 per cent over the week.
India's soyabean crop was also reported to be doing well, putting further downside pressure on other vegetables oils, palm oil included.
But it was the latest - and much better-than-expected - export estimates that came to the market's rescue. Intertek Agri Services put September 1-25 exports at 963,814 tonnes. Though still lower by some 37,000 tons or 3.70 per cent compared to that shipped out in the corresponding period in August, it was a major improvement compared to the earlier September 1-15 export estimate, which was 135,000 tonnes lower compared to that for first half August 2009.
Conclusion: The technical indicators overall, as of last Friday, suggests that the technical rebound is still on.
What's more, last Friday's trading action drew a bullish engulfing pattern on the chart, a bullish candlestick signal.
HOW TO USE THE CHARTS AND INDICATORS
THE BAR AND VOLUME CHART: This is the daily high, low and settlement prices of the most actively traded basis month of the crude palm oil futures contract. Basically, rising prices accompanied by rising volumes would indicate a bull market.
THE MOMENTUM INDEX: This line plots the short/medium-term direction of the market and may be interpreted as follows:
(a) The market is in an upward direction when the line closes above the neutral straight line and is in a downward direction when the reverse is the case.
(b) A loss in the momentum of the line (divergence) when prices are still heading up or down normally indicates that the market could expect a technical correction or a reversal in the near future.
THE RELATIVE STRENGTH INDEX: This indicator is most useful when plotted in conjunction with a daily bar chart and may be interpreted as follows:
(a) Overbought and oversold positions are indicated when the index goes above or below the upper and lower dotted lines.
(b) Support and resistance often show up clearly before becoming apparent on the bar chart.
(c) Divergence between the index and price action on the chart is a very strong indication that a market turning point is imminent.
The subject expressed above is based purely on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.
The writer welcomes comments and feedback. He can be reached at mavernwqmun@gmail.comm
OBSERVATIONS: External factors and events weighed on the Kuala Lumpur CPO futures market at first, but a much improved - indeed, a much better-than-expected - export performance saved the day for the local market.
The actively-traded December 2009 dropped to intra-week low of RM2,089 but strong buying interest emerged at the eleventh hour, giving this market a strong lift. Settling last Friday at RM2,186 a tonne, the benchmark contract closed almost unchanged from the previous week, down a mere RM4 over the week.
Strength in the US dollar early last week was the catalyst that sent crude oil plunging below US$70 a barrel, and which chilled commodity markets overall.
World edible oil markets also came under downside pressure due to expectations for a bumper US soyabean crop. US soyabeans are harvested from October through November and weather conditions are said to be perfect. US soyabean oil for October delivery on the Chicago Board of Trade closed last Friday at 34.68 US cents a pound, down 64 points or 1.85 per cent over the week.
India's soyabean crop was also reported to be doing well, putting further downside pressure on other vegetables oils, palm oil included.
But it was the latest - and much better-than-expected - export estimates that came to the market's rescue. Intertek Agri Services put September 1-25 exports at 963,814 tonnes. Though still lower by some 37,000 tons or 3.70 per cent compared to that shipped out in the corresponding period in August, it was a major improvement compared to the earlier September 1-15 export estimate, which was 135,000 tonnes lower compared to that for first half August 2009.
Conclusion: The technical indicators overall, as of last Friday, suggests that the technical rebound is still on.
What's more, last Friday's trading action drew a bullish engulfing pattern on the chart, a bullish candlestick signal.
HOW TO USE THE CHARTS AND INDICATORS
THE BAR AND VOLUME CHART: This is the daily high, low and settlement prices of the most actively traded basis month of the crude palm oil futures contract. Basically, rising prices accompanied by rising volumes would indicate a bull market.
THE MOMENTUM INDEX: This line plots the short/medium-term direction of the market and may be interpreted as follows:
(a) The market is in an upward direction when the line closes above the neutral straight line and is in a downward direction when the reverse is the case.
(b) A loss in the momentum of the line (divergence) when prices are still heading up or down normally indicates that the market could expect a technical correction or a reversal in the near future.
THE RELATIVE STRENGTH INDEX: This indicator is most useful when plotted in conjunction with a daily bar chart and may be interpreted as follows:
(a) Overbought and oversold positions are indicated when the index goes above or below the upper and lower dotted lines.
(b) Support and resistance often show up clearly before becoming apparent on the bar chart.
(c) Divergence between the index and price action on the chart is a very strong indication that a market turning point is imminent.
The subject expressed above is based purely on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.
The writer welcomes comments and feedback. He can be reached at mavernwqmun@gmail.comm
Wall St still a bull market despite pullback
Published: 2009/09/28
NEW YORK: Wall Street has stepped back from a spectacular six-month rally, leaving investors pondering the depth of the latest pullback in the context of a fragile economic recovery.
Some analysts say a "correction" would be healthy for the market by working off some of the gains and easing speculative fervour from short-term traders.
Still in doubt, however, is whether the bull market can keep running even after stunning gains of some 60 perc ent for the broad market as the economy struggles to emerge from recession.
Over the past week, the Dow Jones Industrial Average lost 1.58 per cent to end Friday at 9,665.19, as the market pulled back from 11-month highs.
The tech-dominant Nasdaq slipped 1.97 percent to 2,090.92 while the Standard & Poor's 500 broad-market index retreated 2.24 per cent to 1,044.38.
The market appeared to hit a roadblock on Wednesday as stocks rallied in the wake of a Federal Reserve announcement that it intended to hold interest rates near zero for some time.
The rally pushed the Dow briefly above 9,900 but then a pullback began.
Analysts said the market used the occasion to lock in hefty gains and wait for further evidence that the economy is pulling out of recession.
Al Goldman, chief market strategist at Wells Fargo Advisors, urged clients to wait out the correction.
"A several-day pullback has begun," he said.
"We believe it will be measured in days, not weeks but it still must be respected after the 60 per cent rally from the March 9 lows. The big picture is still a bull market which we believe will be higher by year-end."
Bob Dickey at RBC Wealth Management said the market is in "an established bull trend" until proven otherwise.
"Today the market is likely telling us what the economic condition may be six to 12 months from now, and although it currently may not make sense, the market has tended to lead these economic changes historically," he said.
Gregory Drahuschak at Janney Montgomery Scott said that "for the very short-term that the market is getting a bit tired" but that does not alter the long-term outlook.
"We are not concerned about a short-term pullback since we are focused more on GDP (gross domestic product) and earnings potential into the first half of 2010 - potential we do not think the market has discounted fully yet," he said. - AFP
NEW YORK: Wall Street has stepped back from a spectacular six-month rally, leaving investors pondering the depth of the latest pullback in the context of a fragile economic recovery.
Some analysts say a "correction" would be healthy for the market by working off some of the gains and easing speculative fervour from short-term traders.
Still in doubt, however, is whether the bull market can keep running even after stunning gains of some 60 perc ent for the broad market as the economy struggles to emerge from recession.
Over the past week, the Dow Jones Industrial Average lost 1.58 per cent to end Friday at 9,665.19, as the market pulled back from 11-month highs.
The tech-dominant Nasdaq slipped 1.97 percent to 2,090.92 while the Standard & Poor's 500 broad-market index retreated 2.24 per cent to 1,044.38.
The market appeared to hit a roadblock on Wednesday as stocks rallied in the wake of a Federal Reserve announcement that it intended to hold interest rates near zero for some time.
The rally pushed the Dow briefly above 9,900 but then a pullback began.
Analysts said the market used the occasion to lock in hefty gains and wait for further evidence that the economy is pulling out of recession.
Al Goldman, chief market strategist at Wells Fargo Advisors, urged clients to wait out the correction.
"A several-day pullback has begun," he said.
"We believe it will be measured in days, not weeks but it still must be respected after the 60 per cent rally from the March 9 lows. The big picture is still a bull market which we believe will be higher by year-end."
Bob Dickey at RBC Wealth Management said the market is in "an established bull trend" until proven otherwise.
"Today the market is likely telling us what the economic condition may be six to 12 months from now, and although it currently may not make sense, the market has tended to lead these economic changes historically," he said.
Gregory Drahuschak at Janney Montgomery Scott said that "for the very short-term that the market is getting a bit tired" but that does not alter the long-term outlook.
"We are not concerned about a short-term pullback since we are focused more on GDP (gross domestic product) and earnings potential into the first half of 2010 - potential we do not think the market has discounted fully yet," he said. - AFP
FBM KLCI futures:Bears in ongoing tussle with bulls
Published: 2009/09/28
THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures spot month contract on Bursa Malaysia Derivatives closed unchanged at 1,221.50 last Friday with a higher open interest of 14,843 contracts.
Moving beyond the technical resistance line at 1,220, the futures contract has remained supported above this level on a weekly basis. Consolidation ruled for the most part of last week only to be interrupted by profit-taking opportunity which dragged the spot contract to a low of 1,210.50 before it recovered and ended on a flat note.
As the cash index underwent a correction from last Wednesday, returning interest from the bullish side was slow and uninspiring. The reluctance of the bulls to commit further at dips has resulted in the technical indicators turning consolidative at best while shorter term signals have remained largely unchanged. Firm recovery has yet to kick in with the technical indicators undergoing work in progress before easing to the oversold region. Technical oscillators are emitting mixed signals with the direction of the indicators diverging.
The Moving Average Convergence Divergence (MACD) indicator is slowing down after the positive crossover spotted in the previous week. This will have a complicated effect on the rising trend line on the weekly chart despite the primary pattern remaining largely unscathed. The dichotomy runs deep as the secondary trend persists with an adjustment which if left unchecked will have dire consequences on the overall trend.
Tactically for this week, the consolidation will continue. Bears are still in a tussle with the bulls, who have become subdued. Under this setting, the spot contract may be compelled to stay defensive only at lower support levels with the first at 1,210. Ability to resist this stopover may then see consolidative pressure in the market to keep the spot within the 1,240 to 1,210 band.
Technical reports
The MACD indicator remained positive with the faster above the signal line. Both lines remain at the negative region.
The daily Relative Strength Index closed at the overbought.
The daily Commodity Channel Index finished at the overbought.
bernard@tactician.com.my.
The subject expressed above is based purely on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.
THE FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures spot month contract on Bursa Malaysia Derivatives closed unchanged at 1,221.50 last Friday with a higher open interest of 14,843 contracts.
Moving beyond the technical resistance line at 1,220, the futures contract has remained supported above this level on a weekly basis. Consolidation ruled for the most part of last week only to be interrupted by profit-taking opportunity which dragged the spot contract to a low of 1,210.50 before it recovered and ended on a flat note.
As the cash index underwent a correction from last Wednesday, returning interest from the bullish side was slow and uninspiring. The reluctance of the bulls to commit further at dips has resulted in the technical indicators turning consolidative at best while shorter term signals have remained largely unchanged. Firm recovery has yet to kick in with the technical indicators undergoing work in progress before easing to the oversold region. Technical oscillators are emitting mixed signals with the direction of the indicators diverging.
The Moving Average Convergence Divergence (MACD) indicator is slowing down after the positive crossover spotted in the previous week. This will have a complicated effect on the rising trend line on the weekly chart despite the primary pattern remaining largely unscathed. The dichotomy runs deep as the secondary trend persists with an adjustment which if left unchecked will have dire consequences on the overall trend.
Tactically for this week, the consolidation will continue. Bears are still in a tussle with the bulls, who have become subdued. Under this setting, the spot contract may be compelled to stay defensive only at lower support levels with the first at 1,210. Ability to resist this stopover may then see consolidative pressure in the market to keep the spot within the 1,240 to 1,210 band.
Technical reports
The MACD indicator remained positive with the faster above the signal line. Both lines remain at the negative region.
The daily Relative Strength Index closed at the overbought.
The daily Commodity Channel Index finished at the overbought.
bernard@tactician.com.my.
The subject expressed above is based purely on technical analysis and opinions of the writer. It is not a solicitation to buy or sell.
China tyre makers should consider Malaysia as production avenue
Published: 2009/09/28
CHINA-based tyre manufacturers should consider setting up operations in Malaysia. This is to avert the recent punitive tariff of 35 per cent imposed on Chinese-made tyre imports by the US.
"China buys a lot of rubber from Malaysia as raw material to produce tyres there. If manufacturers set up factories and export from Malaysia, they will avoid the impact of the increased tax," the deputy chairman of the Malaysia-China Chamber of Commerce, Liew Choon Kong said in Kuala Lumpur on Saturday.
The decision by the US to impose extra duties on Chinese-made tyres has triggered strong complaints from local tyre companies in the country.
It has also led to China strongly opposing the act of trade protectionism by the US.
According to Liew, if tyres are produced in Malaysia by China-based manufacturers, the specifications would not be categorised as being "Chinese", which would enable the product to enter the US market.
"In this way, it would be cost effective as well, while steering away from the impact of the new US tariffs on Chinese tyres," he said.
Liew said the move will also indirectly open up more business opportunities for Malaysian and Chinese companies to work hand in hand, in view of the current economic environment.
He also urged local food and beverage producers to penetrate the Chinese market as there was more untapped opportunities due to the growing population.
"The Chinese have difficulty getting coffee supplies. So, this is an example of a market Malaysian producers can look at," he said. - Bernama
CHINA-based tyre manufacturers should consider setting up operations in Malaysia. This is to avert the recent punitive tariff of 35 per cent imposed on Chinese-made tyre imports by the US.
"China buys a lot of rubber from Malaysia as raw material to produce tyres there. If manufacturers set up factories and export from Malaysia, they will avoid the impact of the increased tax," the deputy chairman of the Malaysia-China Chamber of Commerce, Liew Choon Kong said in Kuala Lumpur on Saturday.
The decision by the US to impose extra duties on Chinese-made tyres has triggered strong complaints from local tyre companies in the country.
It has also led to China strongly opposing the act of trade protectionism by the US.
According to Liew, if tyres are produced in Malaysia by China-based manufacturers, the specifications would not be categorised as being "Chinese", which would enable the product to enter the US market.
"In this way, it would be cost effective as well, while steering away from the impact of the new US tariffs on Chinese tyres," he said.
Liew said the move will also indirectly open up more business opportunities for Malaysian and Chinese companies to work hand in hand, in view of the current economic environment.
He also urged local food and beverage producers to penetrate the Chinese market as there was more untapped opportunities due to the growing population.
"The Chinese have difficulty getting coffee supplies. So, this is an example of a market Malaysian producers can look at," he said. - Bernama
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About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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