Tuesday, June 22, 2010

Interactive Futures Sdn Bhd Soft Opening & Promotion Event.


Get ahead of others and strategize your trades and investment by getting first hand information on how the 10th Malaysia Plan moves the market and where Malaysian market is heading forward with NextVIEW Chief Market Strategist – Benny Lee and Interactive Futures! Using advanced trading tools and backed by many years of real life trading experience, Benny Lee will definitely give you a heads-up and insights to the FBM KLCI and CPO that you are trading in 2010.

This sophisticated event will bring you hordes of networking opportunities with experienced traders and the best deals in town by Interactive Futures.

* FREE NextVIEW Advisor to attendees. Features:

  • Real-time streaming data and Dow Jones news
  • Market depth, market watch and queue track
  • Technical charts that show Tick, intra-day, daily, weekly and monthly charts
  • Over 50 technical indicators
  • Portfolio management
  • Historical market data for more than 15 years
  • Real-time news alerts send via SMS and email
  • Access through PDA or mobile phone. And many more…
* Limited units available. Terms & conditions applies.

Date : 22 June 2010 (Tue)
Venue : Auditorium, Menara Hap Seng, Jalan P.Ramlee, KL(Near by Shangri La Hotel)
06:30pm : Registration with pre dinner cocktail
07:00pm : Opening speech by Interactive Futures
07:05pm : “Market Review on 10th Malaysia Plan” by Benny Lee
07:30pm : Dinner with heart-tempting prizes to be won
09:30pm : End
Click here to register for the event !

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20100622 1809 FCPO EOD Daily Chart Study.

FCPO closed : 2377, changed : -28 points, volume : lower.
Bollinger band reading : downside biased.
MACD Histrogram : reversed lower, seller insisted to stay.
Support : 2370, 2350, 2330 level.
Resistant : 2400, 2450, 2470 level.
Comment :
After correction FCPO continue its cruise heading south again ended the day lower in reduced volume traded. Daily chart reading turned into a downside biased market after having some upward corrections.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with larger cut loss and profit target.

20100622 1745 FKLI EOD Daily Chart Study.

FKLI closed : 1330 changed : -11.5 points, volume : lower.
Bollinger band reading : side way correction upside biased.
MACD Histrogram : reversed downward, buyer taking profit.
Support : 1330, 1325, 1318 level.
Resistant : 1337, 1345, 1350 level.
Comment :
Over reaction on China Yuan revaluation yesterday plus profit taking activities lead FKLI to eased lower closing near the low of the day in nearly half of yesterday volume transacted. Daily chart shows that correction is taking place after yesterday surged with an upside biased reading.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20100622 1533 Global Market News,

Asia stocks fall as yuan euphoria fades
HONG KONG, June 22 (Reuters) - Asian stocks retreated as investors booked profits a day after China's weekend decision to give its currency more flexibility triggered a risk rally.
"The potential boost that might be given to consumption is likely to be subtracted from what will happen to exports," said Emil Wolter, head of regional strategy at Royal Bank of Scotland.

20100622 1322 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1332 changed : -9.5 points, volume : low.
Bollinger band reading : side way range bound correction upside biased.
MACD Histrogram : fall lower, buyer taking profit.
Support : 1330, 1325, 1318 level.
Resistant : 1337, 1345, 1350 level.
Comment :
4.5 points range market FKLI traded lower in quiet volume transaction as profit taking activities take place after yesterday over extended price upward surged. Hourly chart showing a correction side way range bound upside biased market testing support level.

20100622 1250 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2391, changed : -14 points, volume : low.
Bollinger band reading : side way range bound.
MACD Histrogram : fall lower, not much participation from both buyer and seller.
Support : 2370, 2350, 2330 level.
Resistant : 2400, 2450, 2470 level.
Comment :
No follow through after yesterday climbed FCPO opened and traded weaker in thin trading volume tight 13 points range market. Hourly chart reading suggesting a side way range bound market testing resistant level.

20100622 1210 China Yuan Currency Related News.

Peg is dead as China vows yuan flexibility before G20
BEIJING/WASHINGTON, June 19 (Reuters) - China said on Saturday it would gradually make the yuan more flexible, in a gesture that may deflect foreign criticism at next week's G20 summit but will not quickly yield a big move by its currency.
U.S. President Barack Obama, who prodded China over the yuan in a letter released on Friday, welcomed the news in an indication the danger of a market-roiling confrontation at the Group of 20 meeting in Canada had eased.
Yuan will not necessarily rise, China media warn
BEIJING, June 21 (Reuters) - China's pledge to reform the yuan does not necessarily mean that the currency will strengthen against the dollar, state media reported on Monday, citing Chinese economists.
The People's Daily, the official newspaper of the ruling Communist Party, said the yuan would float both up and down against the dollar and that one-way appreciation was not the thrust of the reform.
More flexible yuan mildly bullish for commodities
CHICAGO, June 19 (Reuters) - China's move to make its yuan currency more flexible should be mildly bullish for many commodities, boosting China's purchasing power and possibly increasing its imports of copper, iron ore and chicken.
Although China made clear on Saturday that a one-off step change in the rate similar to 2005 wasn't in the cards, analysts expect the yuan to slowly rise, adding to its nearly 20 percent gain since its last revaluation in 2005.

20100622 1136 Global Economic News.

June 21 (Bloomberg) -- The failure of Standard & Poor’s 500 Index to hold above levels monitored by analysts is sending a bearish signal to traders who base day-to-day decisions on whether to buy or sell stocks on price charts. The benchmark index for U.S. stocks rose to 1,131.23 today before reversing course and falling to 1,113.20 at 4 p.m. in New York. The rally fizzled above 1,120.84, the level marking a 50 percent recovery of its October 2007 to March 2009 plunge, and 1,130.29, the midpoint of its intraday highs and lows in 2010. 

Malaysia: Trade set to rebound to RM1trn this year
Malaysia's trade will bounce back to its RM1trn mark volume this year on the back of an improved global economy, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed. Total trade slipped off the RM1trn mark last year, with a decrease of 16.6% from RM1.2 trn recorded in 2008. MITI has targeted exports to grow between 6% and 7% this year as demand improves in tandem with the global economic recovery. (BT)

Malaysia: MITI targeting RM45bn in investments for services sector
The International Trade and Industry Ministry (MITI) is targeting RM45.8bn worth of approved investments for the services sector for 2010 as part of the Third Industrial Master Plan (IMP) targets. Besides this sector, the Third IMP included a target of RM27.5bn for the manufacturing sector for this year. According to the 2009 MITI report released yesterday, the Government would ensure the investment environment remained conducive and competitive. (Starbiz)

Taiwan: Export orders rose for eighth month in May
Taiwan’s export orders rose for an eighth consecutive month in May as Europe’s debt crisis failed to damp demand for the island’s computers and television screens. Orders, an indication of shipments in the next one to three months, advanced 34.0% from a year earlier, after a 35.2% gain in April, the Ministry of Economic Affairs said in Taipei. (Bloomberg)

Korea:Growth may exceed trend rate in second half
South Korea’s central bank governor said economic growth may exceed its trend rate and inflation could accelerate in the second half of the year, sending bond yields higher as traders bet the bank will raise interest rates. “It’s too early to say that actual economic growth has already exceeded potential output,” Governor Kim Choong Soo mentioned. That “will come in the second half.” He also said that inflation may approach the central bank’s 3% target. (Bloomberg)

20100622 1131 Malaysia Corporate News.

Primus files lawsuit against EONCap directors
Hong Kong-based Primus Pacific Partners yesterday filed a lawsuit against the directors of EON Capital (EONCap) in an attempt to stop the lender from being taken over by bigger rival Hong Leong Bank. Primus, which is EONCap's single largest shareholder with a 20.2% stake, claims that Hong Leong's RM5.06bn takeover offer is unlawful in the way it is structured and that EONCap's directors, who plan to let shareholders decide on the offer, have not acted in the best interest of the company. (BT)

Delay may prompt MAS to cancel A380 orders
The Malaysian carrier would not rule out opting to cancel its A380 orders, says its managing director and chief executive officer. National carrier Malaysia Airlines (MAS) may consider cancelling its order for six Airbus A380- 800 superjumbos, following the repeated delay in delivery by aircraft maker Airbus SAS. (BT)

Kencana to buy shares in Singapore firms
Kencana Petroleum, through its wholly-owned subsidiary Kencana Petroleum Ventures SB (KPV), is acquiring equity in Mermaid Kencana Rig 1 Pte Ltd (MKR1), Kencana Mermaid Drilling SB (KMD) and Mermaid Kencana Rigs (Labuan) Pte Ltd (MKR Labuan) from Mermaid Drilling (Singapore) Pte Ltd, together with intercompany loans and debts, for US$66.6m (RM213.12m). The equity acquisition – 75% in MKR1, 40% in KMD and 45% in MKR Labuan - amount to US$43.65m. KPV will also pay Mermaid Drilling Singapore US$22.95m (RM73.44m) to settle intercompany loans and debts in the three companies. Kencana said the acquisitions, which will make the company the only Malaysian group with a wholly owned offshore drilling subsidiary, are in line with its plans to expand its recurring income and secure businesses with higher margins. The exercise is expected to be completed in the first quarter of the group's financial year ending July 31 2011. (BT) 

Nestle to keep factories in Malaysia, Philippines
The Malaysian and Philippine units of Nestle, the world’s biggest food group, said the company will not leave those countries for Indonesia, following a report which suggested it would, Reuters said. Indonesian daily Kontan earlier reported Nestle planned to move factories in Malaysia and the Philippines to Indonesia to be closer to raw material sources, and cited Nestle’s Indonesia spokesman Brata T. Hardjosubroto as saying details of the relocation would be announced in November. In separate statements, Nestle (Malaysia) and Nestle Philippines Inc said they had no plans to move any of their factories in the two countries to Indonesia. “In fact, Nestle continues to invest heavily in its manufacturing facilities in the Philippines to upgrade machinery and expand capacities to meet local and foreign demand for its products,” Nestle Philippines said. Nestlé (Malaysia) clarified that there are no plans to relocate its production facilities in Malaysia and the Philippines. (BT)

Wilmar to invest RM6.46bn in Indonesia
Wilmar International Ltd, the world’s largest palm oil trader, plans to invest USD2bn (RM6.37bn) in Indonesia. Wilmar may invest in various industries, including agriculture in Merauke, a town on Papua Island, Wirjawan was cited as saying yesterday. The company may build a sugar plantation, possibly in Merauke, without confirming the USD2bn figure. Wilmar may follow other palm-oil producers by expanding into Papua, the eastern-most island in South-East Asia’s biggest economy. (Malaysianreserve)

20100622 1111 Soy Oil & Palm Oil News.

Soyoil futures bounced, underpinned by bullish demand prospects amid the markets competitiveness in world vegoil markets, analysts said. Spillover support from firm crude oil prices added support. Crude oil influences grain and oilseeds due to their use in making renewable fuels. July soyoil settled 0.13 cent, or 0.3%, higher at 38.05 cents per pound.(Source: CME)

Palm oil rises but ends off one-week high
KUALA LUMPUR, June 21 (Reuters) - Malaysian crude palm oil futures ended a touch higher  on a broader market rally and strong export data but finished well off intraday highs as the ringgit's jump raised fears about refining margins.
"Palm oil should be moving higher because China is going to widen its trading band for the yuan but the ringgit is very strong today, market sentiment is a bit depressed," said a trader in Kuala Lumpur.

India monsoon seen weak over soybean areas
NEW DELHI, June 21 (Reuters) - India's monsoon rains, which have entered the key soybean-growing areas, are likely to be weak in the next three days, weather officials said on Monday.
But industry officials said sowing of soybean, the main summer-planted oilseed, would not be hit due to good soil moisture after recent pre-monsoon showers in the region.

Argentine soy harvest delayed by rains - govt
BUENOS AIRES, June 18 (Reuters) - Rains in several of Argentina's farming regions delayed the country's 2009/10 soy harvest and slowed gathering of the crop in its final stage, the Agriculture Ministry said on Friday in a weekly crop report.
Argentina is the world's top soy oil and meal supplier, and the world's No. 3 exporter of the grain.

Argentina raises corn, soy, wheat forecasts
BUENOS AIRES, June 18 (Reuters) - Argentina's Agriculture Ministry raised  on Friday its forecast for 2009/10 soy output to a record 54 million tonnes, a 0.9 percent increase from the previous estimate, after plentiful rains and favorable weather boosted yields in growing areas.
The government, which had previously forecast soy output at 53.5 million tonnes, said farmers had gathered 98 percent of the estimated record soy crop.