EARNINGS DRIVEN DOW(N) ???The Dow Jones Industrial Average (DJIA – 11,146.57) ended a wishy-washy session with a gain of 38.6 points, or 0.4%, as 21 of its 30 components settled higher. Home Depot (HD) and United Technologies (UTX) paced the advancing equities, while Bank of America and Alcoa (AA) blazed the path into the red. Despite more than halving its intraday lead, the Dow finished at its highest price since May 3.
The S&P 500 Index (SPX – 1,180.26) also ended a volatile session in the black, notching a gain of 2.1 points, or 0.2%. In similar fashion, the Nasdaq Composite (COMP – 2,459.67) muscled back into positive territory by the close, edging just 2.3 points, or 0.1%, higher.
BURSA OPTIMISTICALLY UPSIDEDThe Malaysian stock market has finished higher now in two of three trading days since the end of the three-day losing streak in which it had declined more than 15 points or 1.1 percent. The Kuala Lumpur Composite Index finished just above the 1,490-point plateau, and now analysts are expecting to see the market tick slightly higher again at the opening of trade on Friday.
The global forecast for the Asian markets is fairly flat with a touch of upside, thanks to continued good news among corporate earnings. Technology stocks may provide support, while gold, steel and oil shares may fall under pressure. The European and U.S. stocks finished slightly higher, and now the Asian markets are tipped to also inch slightly to the upside.
The KLCI finished slightly higher on Thursday, nudged into the green by gains from the financial shares and the plantation stocks.
For the day, the index collected 4.42 points or 0.29 percent to finish at 1,491.02 after trading between 1,488.44 and 1,495.84. Volume was 1.42 billion shares worth 1.84 billion ringgit. There were 458 gainers and 301 decliners, with 316 stocks finishing unchanged. Among the actives, CIMB, Genting, Kuala Lumpur Kepong, Gamuda, IOI Corp and Chin Teck all finished higher, while BAT, Dutch Lady, CBIP, Shell, Warisan and Karambunai all ended lower.
BUOYANTLY SPECULATIVE
CRUDE palm oil futures prices closed higher yesterday, as the commodity inched up above RM3,000 a tonne, dealers said.
BUOYANTLY SPECULATIVECRUDE palm oil futures prices closed higher yesterday, as the commodity inched up above RM3,000 a tonne, dealers said.
The Chinese soyaoil futures also hit a two-year high. At the close, November 2010 rose RM5 to settle at RM2,995 a tonne, December 2010 was unchanged at RM2,990 , January 2011 was RM6 higher at RM2,990 and February 2011 gained RM9 to RM2,987.
Volume fell to 14,910 lots from 19,252 on Wednesday while open interest rose to 71,596 contracts from 71,412. On the physical market, September South was up RM10 to RM3,000.
CPO Rekomen
BUY AT WEAKNESS
FKLI slithering between premium & discount
ZL's positions 1493.600 average LONGTarget 1500 intraday >>> Positional 1515
FKLI Rekomen >>> Neutral
Buy at weakness / Sell into strength you pandai pandai lor :D
HAPPY TRADING
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