Stocks to watch: GLCs, SelProp, Vastalux, NSTP, UEMLand - Edgedaily

Sunday, September 27, 2009

KUALA LUMPUR: Market sentiment this week is expected to stay lacklustre in the absence of fresh positive corporate news, expect for several companies, while the continued losses on Wall Street are unlikely to see investors taking fresh positions.
On Friday, US stocks fell for a third straight day as investors stayed cautious following disappointing housing and durable goods data and concerns about TECHNOLOGY spending.

Reuters reports the rally in US stocks, which stumbled in recent days on worries about the economic recovery and continued government stimulus, will be tested this week, by crucial data on growth and jobs.

Data due out are September non-farm payrolls, the final reading of second-quarter gross domestic product and several other big economic reports.


There is concern that the rally in stocks, with the Standard & Poor's 500 index up about 54% since early March, could be fizzling out.

Meanwhile, CIMB Equities Research is maintaining an overweight stance on Malaysia following potential share placements by government-linked investment companies including Khazanah Nasional.

The research house said such corporate exercises would be a win-win move for Malaysia as they would increase free float and liquidity for government-linked companies (GLCs). The GLCs include Malaysian Airline System, PLUS Expressways, UEM Land, Pharmaniaga while Khazanah has also substantial stakes in Proton, Axiata, Telekom and Time Engineering.


UEM Land Weekly Chart



Plus Expressway Weekly Chart


"Placements could also help renew foreign investor interest and drive a re-rating of the market. We remain bullish on Malaysia and maintain our end-2010 FBM KLCI target of 1,400," said CIMB Research.

Selangor PROPERTIES [] Bhd posted net profit of RM33.3 million for 3Q ended July 31, up 182% from RM11.8 million a year ago, boosted by foreign exchange gains and higher profits from property development.

Revenue rose 36.5% to RM70.55 million from RM51.68 million. Earnings per share were 9.69 sen versus 3.44 sen.

In VASTALUX ENERGY BHD [], its executive vice chairman Mohamad Nor Abdul Rashid continued to reduce his stake in the company.


Vastalux Weekly Chart


He sold 3.98 million shares in the open market at prices ranging from 41 sen to 46.8 sen from Sept 4 to 23. The recent disposals reduced his stake to 63.73 million shares.

As for NSTP and Utusan Malaysia, investors could be ready to lock in gains after several days of gain following an upgrade by Macquarie Research.


UEMland Weekly Chart

Macquarie Research upgraded NSTP to outperform and a target price of RM2.50, based on a 12 times price-to-earnings (PER) for 2010E. NSTP closed 13 sen higher at RM2.29 last Friday while Media Prima added four sen to RM1.54 and Utusan jumped 12.5 sen to RM1.04.

NSTP's three newspapers in its fold account for 35% of total circulation and 22% of total newspaper advertising spending (adex), it had said in the report.

Source: Edgedaily


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Wall Street drops on Fed stimulus withdrawal fears

Thursday, September 24, 2009

NEW YORK: Stocks fell on Wednesday, Sept 23 as investors worried the Federal Reserve is closer to pulling back on extraordinary measures to inject funding to shore up the economy, according to Reuters.

The Fed's policy-setters met and kept interest rates unchanged, as expected, but they also said the U.S. central bank would slow purchases of mortgage debt to extend that program's life until the end of March. That was seen as a step toward a measured withdrawal of its extraordinary support for the economy during the downturn.

"They're talking about removing some of the various packages they have in place for purchasing mortgages and other instruments in debt markets that was kind of keeping everything flowing," said Kurt Brunner, portfolio manager at the Swarthmore Group in Philadelphia.

"There's a broad concern about what happens when the Fed gets out of the way."

Among the casualties were banks, housing stocks and energy shares. The Dow Jones home CONSTRUCTION [] index slid 3.4 percent, while the S&P energy index declined 2 percent, a decline that coincided with a sharp slide in crude oil prices.

The Dow Jones industrial average shed 81.32 points, or 0.83 percent, to 9,748.55. The Standard & Poor's 500 Index declined 10.79 points, or 1.01 percent, to 1,060.87. The Nasdaq Composite Index lost 14.88 points, or 0.69 percent, to 2,131.42.

Initially stocks had risen sharply following the Fed's comment that economic activity was picking up, but in the last hour of trading the market reversed course as investors fretted about the timing of the removal of some of the Fed's stimulus.

The other worry was the Fed's vow that interest rates will stay low for an extended time.

"Keeping interest rates low -- it's positive for the consumer, but it's tougher for banks to make money with interest rates so low," said Dan Faretta, senior market strategist at Lind-Waldock, a brokerage firm in Chicago.

The market's run-up of nearly 60 percent over six months might have also caused some investors to use the Fed's statement as reason to book profits, he added.

Slowing mortgage purchases is something the Fed could consider in another six months, Faretta said. "There's still a lot of problems with mortgages, the housing market in general, as well as the banking sector."

Among banks, JPMorgan fell 3.03 percent to US$45.06, making the stock the Dow's top drag. The S&P financial index .GSPF and the KBW bank index each lost 2.1 percent.

Home builder Toll Brothers fell 3.4 percent to US$20.68. In energy, Chevron Corp fell 1.7 percent to US$71.73, while U.S. front-month crude futures declined US$2.79 or 3.89 percent to settle at US$68.97 a barrel.

Networking equipment maker Cisco Systems weighed heavily on Nasdaq, falling 2.6 percent to US$22.80.

Volume was moderate, with about 1.32 billion shares changing hands on the New York Stock Exchange, compared with last year's estimated daily average of 1.49 billion. On the Nasdaq, about 2.72 billion shares traded, above last year's daily average of 2.28 billion. - Reuters


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Ranhill trapped in symetrical Triangle

Saturday, September 19, 2009



Ranhill trapped in symetrical triangle in both weekly and daily chart. Longterm showed uptrend with next resistant at RM1.17 and current support at Rm0.93. Next support seen at RM0.83 if the current support fail.

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Uchitec break downtrend resistant - short term

Thursday, September 10, 2009

Uchitec at 9/9/2009

Is Uchitec can sustain the current share price at this moment? Since it break the short term downtrend...

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WCT

Sunday, April 5, 2009

WCT Weekly Chart 3rd April 2009

Volume traded recently on the WCT increased. RSI-14 weeks just quit from oversold area. Previous resistant already broken and and might goes higher and retest the 2nd resistant. The previous support seen at the RM0.925. WCT may increase in next week? We will see....

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Maybulk at the 61.8% Fibonacci Extension Level

Maybulk Weekly Chart April 2009

Maybulk rebound when touching 123.6% Fibonacci level last year and continue to increase further as well as the volume traded recently. Current support seen at the RM2.53 and resistant at RM3.25. But RSI-14weeks already in overbought area which I think it will be more in selling mode for few weeks after this. If the price can exceed the current resistant, next level will be at RM3.50.

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TMI at the 161.8% Fibonacci

Tuesday, March 31, 2009

TMI Weekly Chart

TMI Daily Chart

TMI trading in downtrend mode and if you use the Fibonacci level, it is trading at the support level 161.8%. Trading occurred in high volume recently. RSI-14 weeks still in oversold are but RSI-14 days already went out from that area.

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Gpacket Slump Down For A Few Days

Monday, March 30, 2009

Gpacket Weekly Chart

Gpacket Daily Chart

After I posted on 10/3/2009 which Gpacket trading in trapped symmetrical triangle. Then a few days after, the downtrend continue rallied. Today it was closed at the RM0.805 which currently traded in high volume at its support. The best for me to trade is waiting for the confirmation candle to trade and the volume as well.


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YNH Prop - RSI Divergence

Thursday, March 12, 2009


YNH Prop - RSI Divergence?

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Gpacket - Trapped in Symetrical Triangle

Tuesday, March 10, 2009


What's next?

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YNH Properties Rebound 27 Feb 2009?

Friday, February 27, 2009

YNH Properties Price Chart


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Malaysia's TMI posts $140 mln Q4 loss

Thursday, February 26, 2009

Telekom Malaysia International Price Chart

As reporting in CNBC, TMI posts $140 mil Q4 loss today. Another reporting by the Star Publication. Current support is just near RM3.02. Will TMI share price stay at that level? We will see by tomorrow morning. Or it triple bottom will transform? Have a look on this chart.

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