ZLBT Morning Views >>> Bursa Malaysia + Wall Street

Bursa Malaysia : Optimistic Day For KL Stocks
The Malaysian stock market has finished higher now in back-to-back sessions, rising 8 points or 0.5 percent in that span. The Kuala Lumpur Composite Index ended just above the 1,566-point plateau. However, traders are bracing for a mild correction to the downside when the market opens on Thursday. due to the DJIA overnite 80.3 points losses. Optimistically, some follow-up momentum of recent sessions should come into play when the local bourse dips as limited selling pressure was evident.

The global forecast for the Asian markets is firmly negative following downbeat economic news from the United States. Airlines figure to lead the markets lower, along with retail stocks and financials - although gold may provide some support. The European and U.S. markets finished under pressure, and the Asian markets also are expected to track to the downside.

The KLCI finished modestly higher on Wednesday following slim gains from the financial shares, industrial issues and plantation stocks.

For the day, the index added 6.56 points or 0.42 percent to finish at 1,567.35 after trading between 1,559.95 and 1,567.35. Volume was 847.12 million shares worth 1.52 billion ringgit. There were 383 decliners and 362 gainers.

Among the actives, Genting Malaysia, Lion Corporation and CIMB Group all finished higher, while KBB Resources and Maybank were unchanged and MAA Holdings and Petronas Chemicals ended lower.

The lead from Wall Street suggests consolidation as stocks came under pressure on Wednesday after showing a lack of direction throughout much of the day. The pullback was partly due to news that the Federal Reserve lowered its forecast for U.S. economic growth.

Wall Street : DJIA Succumbs To 11th Hour Sell-off
The Feds Trimmed Growth Forecast For 2011 & 2012
The central bank occupied the spotlight throughout the session, as a midday interest rate decision from the Federal Open Market Committee (FOMC) was followed by an afternoon press briefing with Chairman Ben Bernanke. The FOMC stood pat on rates, to no one's surprise, and confirmed that its $600 billion bond-buying program -- dubbed "QE2" -- is on track to conclude at the end of the month. What's more, the Fed trimmed its 2011 and 2012 growth estimates for the U.S. economy, and simultaneously nudged its core inflation forecasts higher. "We don't have a precise read on why this slower pace of growth is persisting," admitted Bernanke during his Q&A session. "One way to think about it is that maybe some of the headwinds that have been concerning us -- like weakness in the financial sector, problems in the housing sector, balance sheets and deleveraging issues -- some of these headwinds may be stronger, more persistent than we thought." After spending most of the day churning aimlessly around the breakeven line, the major market indexes responded to Bernanke's cautious comments by dropping decisively lower during the final hour of the session, unceremoniously ending a four-day winning streak.

The Dow Jones Industrial Average (DJIA – 12,109.67) ended on a loss of 80.3 points, or 0.7%, as 28 of its 30 components succumbed to the late-day sell-off. Boeing (BA) gave up 2.5% to lead the laggards, while American Express (AXP) and Coca-Cola (KO) were the only two blue chips to close higher. As a result of today's decline, the Dow sacrificed its short-lived foothold above its 20-day moving average -- but the index remains north of both its 10-day trendline and the 12,100 level.

After rising as high as 1,298 shortly after Bernanke started speaking, the S&P 500 Index (SPX – 1,287.14) shed 8.4 points, or 0.7%, to end up sandwiched between its own 10-day and 20-day moving averages. The Nasdaq Composite (COMP – 2,669.19) kept pace with its peers by losing 18.1 points, or 0.7%, but notched a second straight daily close above its 10-day trendline.

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ZLBT Morning Views >>> Bursa Malaysia

Malaysian Stocks May Face Renewed Selling Pressure

The Malaysian stock market turned right back to the upside again on Friday, one session after it had ended the three-day winning streak in which it had collected more than 20 points or 1.3 percent. The Kuala Lumpur Composite Index finished just above the 1,540-point plateau, and now analysts are forecasting a soft start for the market when it opens on Monday.

The global forecast for the Asian markets suggests consolidation on continued unrest in the Middle East and debt concerns in Europe. Steel companies figure to bear the brunt of the damage, along with financials and technology stocks. The European markets were mixed on Friday and the U.S. bourses were sharply lower - and now the Asian markets also are expected to track to the downside.

The KLCI finished modestly higher on Friday as gains from the financial sector were dented by selling among the industrials and plantation stocks.

For the day, the index collected 8.45 points or 0.55 percent to finish at 1,540.74 after trading between 1,532.94 and 1,545.21. Volume was 1.18 billion shares worth 1.71 billion ringgit. There were 499 gainers and 258 decliners, with 303 stocks finishing unchanged.

Among the actives, CIMB Group, Sime Darby, Maybank, Genting, Axiata and Hong Leong Bank all finished higher.

The lead from Wall Street is negative as stocks moved sharply lower over the course of the trading day on Friday. Renewed concerns about the financial situation in Europe contributed to the weakness on Wall Street along with some strength in the value of the U.S. dollar.

Wall Street major averages moved roughly sideways in afternoon trading, stuck firmly in negative territory. The Dow fell 100.17 points or 0.8 percent to 12,595.75, the NASDAQ dropped 34.57 points or 1.2 percent to 2,828.47 and the S&P 500 slid 10.88 points or 0.8 percent to 1,337.77. With the lower close on the day, the Dow and the S&P 500 posted modest weekly losses of 0.3 percent and 0.2 percent, respectively, while the NASDAQ was nearly unchanged for the week.

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ZLBT Morning Views : Bursa Malaysia + Wall Street

Bursa Malaysia May Continue Winning Streak Today
The Malaysian stock market has finished higher now in three straight sessions, adding just over 6 points or 0.4 percent along the way. The Kuala Lumpur Composite Index finished just below the 1,530-point plateau, and now analysts are expecting the market to extend those gains when it kicks off trade on Thursday.
The global forecast for the Asian markets remains optimistic following upbeat economic news from the United States and continued solid earnings reports. Gold miners and retail stocks figure to lead the markets higher, although oil companies may be dented by profit taking. The U.S. markets finished mostly higher and the European bourses were mostly so, and the Asian markets also figure to track to the upside.

The KLCI finished slightly higher on Wednesday as solid gains from the financial shares were offset by weakness from the property stocks and plantations.

The benchmark FBM KLCI is hovering around the key resistance of 1,530 and once it breaches this level, the next resistance would be at 1,550.

Meanwhile, the ringgit continued to chart a new 13-year high versus the US dollar, riding on the weakening greenback.

At 5pm, the local unit stood at 2.9780/9801 as investors awaited the outcome of the US Federal Reserve's decision on interest rates yesterday.

For the day, the index added 2.57 points or 0.17 percent to finish at 1529.91 after trading between 1,526.58 and 1,534.69. Volume was 1.114 billion shares worth 1.431 billion ringgit. There were 454 decliners and 320 gainers. Volume on the Main Market increased to 832.859 million shares worth RM1.365 billion from 793.167 million shares, worth RM1.221 billion recorded on Tuesday.Among the actives, Genting, AMMB, CIMB Holdings and Sime Darby all finished higher, while Tenaga Nasional, Digi.com and BAT ended lower.

Transperant Fed Propels DJIA North Of 12600

Wall Street offers a positive lead as stocks saw some further upside during trading on Wednesday after showing a strong upward move in the previous session. The markets benefited from a positive reaction to the Federal Reserve's latest monetary policy announcement and Chairman Ben Bernanke's accompanying news conference. While stocks showed a lack of direction in morning trading, buying interest emerged as traders digested the Fed's monetary policy announcement.

As expected, the Fed once again left interest rates unchanged at near-zero levels and indicated that it will continue its asset purchase program through the end of June. In the statement, the Fed noted that the economic recovery is proceeding at a moderate pace and said overall conditions in the labor market are improving gradually. Stocks saw further upside as Bernanke held his news conference later in the afternoon, with the Fed Chief predicting that the economic recovery would continue at a moderate pace and reiterating that measures of underlying inflation remain stable despite recent increases in commodities prices. The Fed Chairman also noted that monetary policy actions must be taken with an eye toward future due to the delayed impact of policy changes.

The Dow Jones Industrial Average (DJIA – 12,690.96) settled on an impressive gain of 95.6 points, or 0.8%, as all but two of its 30 components powered higher. In the process, the Dow collected its first daily close above 12,600 since June 5, 2008, and its highest settlement price since May 20, 2008. On an intraday basis, the index tagged a new multi-year peak of 12,708.37. General Electric paced the 28 advancing blue chips, thanks to bullish comments from its CFO, while Cisco Systems was the lone Dow member to finish in the red. United Technologies finished flat.

The S&P 500 Index (SPX – 1,355.66) topped out at 1,357.49 in intraday action, before ending with a gain of 8.4 points, or 0.6%. Today marks the SPX's best daily finish since June 17, 2008. Finally, the Nasdaq Composite (COMP – 2,869.88) rounded out the rally by adding 22.3 points, or 0.8%. The COMP peaked at 2,870.80 today -- in territory the index hasn't explored since January 2001.

Earlier in the day, the Commerce Department released a report showing that new orders for manufactured durable goods increased by much more than anticipated in March. The report showed that durable goods orders surged up by 2.5 percent in March following a revised 0.7 percent increase in February. Economists had expected orders to increase by 1.9 percent compared to the 0.9 percent drop that had been reported for the previous month.

On the earnings front, aerospace giant Boeing closed up by 0.8 percent after reporting first quarter earnings of $0.78 per share on revenues of $14.9 billion. Analysts had expected earnings of $0.72 per share on revenues of $15.13 billion. The company also reaffirmed its 2011 guidance.
 

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ZLBT morning Views : Bursa Malaysia + Wall Street

Malaysia Shares Draw Flat Lead
The Malaysian stock market picked up just a point on Monday - but that was enough to end the two-day losing streak in which it had declined nearly 10 points or 0.6 percent. The Kuala Lumpur Composite Index finished just shy of the 1,525-point plateau, and now analysts are expecting to see the market remain in that neighborhood when it opens on Tuesday.

The global forecast for the Asian markets is mixed with a hint of downside on caution ahead of a slew of economic and corporate data coming later this week. Gold and oil stocks may see consolidation, while airlines and technology stocks are expected to tick higher. The European and U.S. markets finished mixed but little changed, and the Asian markets are tipped to follow that lead.

The KLCI finished barely higher on Monday as gains from the financial shares and industrial issues were offset by softness from the plantation stocks.

For the day, the index added 1.30 points or 0.09 percent to finish at 1,524.05 after trading between 1,522.99 and 1,526.83. Volume was 1.043 billion shares worth 1.026 billion ringgit. There were 441 decliners and 313 gainers, with 320 stocks finishing unchanged.

Among the actives, Ramunia, Karambunai, CIMB Holdings and Petronas Chemicals all finished lower, while Iris and Maybank ended higher.

DJIA Dips on Pre-Fed Caution, Lackluster Earnings, and Light Volume
Wall Street offers little guidance as stocks showed a lack of direction on Monday, as traders seemed reluctant to make any significant moves ahead of some key economist events later in the week. The lackluster performance also came as some traders remained away from their desks following the long weekend.The choppy trading seen on Wall Street came as traders looked ahead to the Federal Reserve's latest monetary policy announcement on Wednesday as well as some key economic data. While the Fed is not expected to announce any major policy changes, traders have expressed some uncertainty about what Fed Chairman Ben Bernanke will say in his first accompanying news conference.

After touching a multi-year high of 12,506.22 right out of the gate, the Dow Jones Industrial Average (DJIA – 12,479.88) ended with a loss of 26.1 points, or 0.2%, snapping its three-session run higher. Intel Corp. (INTC) paced the 12 advancing equities with a gain of 2.2%, while DuPont (DD) led the bearish majority with a loss of 1.4%.
The S&P 500 Index (SPX – 1,335.25) pared its losses in afternoon trading, surrendering 2.1 points, or 0.2%, by the close. Nevertheless, the broad-market barometer maintained its perch atop the closely watched 1,333 level, which marks double its March 2009 low. Finally, the Nasdaq Composite (COMP – 2,825.88) fared the best of the three, tacking on 5.7 points, or 0.2%, by the time the dust settled.

Traders are also waiting on the release of the Commerce Department's first estimate on first quarter GDP growth on Thursday. The report is expected to show that GDP growth slowed to 2.0 percent in the first quarter from 3.1 percent in the fourth quarter.

Meanwhile, the markets did not show much reaction to a report from the Commerce Department showing that new home sales rebounded in the month of March. The report said new home sales rose 11.1 percent to an annual rate of 300,000 in March from the revised February rate of 270,000. Economists had expected new home sales to rise to 280,000 from the 250,000 originally reported for the previous month.

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ZLBT Morning Views >>> BURSA MALAYSIA

KL Stocks To Rise On Wall St. Overnight Gains
The Malaysian stock market has finished higher in two of three trading days since the end of the two-day losing streak in which it had retreated more than a dozen points or 0.8 percent. The Kuala Lumpur Composite Index finished just above the 1,530-point plateau, and now investors are anticipating continued support at the opening of trade on Thursday.

The global forecast for the Asian markets is broadly positive on solid earnings news and economic data. Technology stocks are expected to fuel the rally, along with energy producers - while financial shares could see some consolidation. The European and U.S. markets finished firmly higher, and the Asian bourses are also expected to track to the upside.

The KLCI finished modestly higher on Wednesday on gains from the financial shares, property stocks and plantations.
Testerday, the FBM KLCI collected 9.49 points or 0.62 percent to finish at the daily high of 1531.02 after falling as low as 1,525.90. Volume was 1.270 billion shares worth 1.809 billion ringgit. There were 473 gainers and 288 decliners.

Among the actives, Genting, IOI Corporation, Tenaga Nasional, Petronas Chemical and Digi.com all finished higher.

The lead from Wall Street is optimistic as stocks continued to perform well throughout the trading session after moving sharply higher in early trading on Wednesday. The markets benefited from a positive reaction to the latest batch of earnings news, further recovering from the sell-off seen on Monday. The considerable strength that was visible on Wall Street was largely due to better than expected quarterly results and upbeat guidance from big-name companies.

Wall St. major averages moved roughly sideways throughout the afternoon, closing firmly in positive territory. The Dow surged up 186.79 points or 1.5 percent to 12,453.54, the NASDAQ jumped 57.54 points or 2.1 percent to 2,802.51 and the S&P 500 climbed 17.74 points or 1.4 percent to 1,330.36. With the upward moves, the Dow reached its best closing level in almost three years and the NASDAQ reached a two-month closing high.

The U.S. market spinoff is expected to have a positive affect on Bursa Malaysia at the opening bell today.

In economic news, Malaysia's consumer prices rose at a faster annual pace in March, the Department of Statistics said on Wednesday. The consumer price index increased 3 percent year-on-year in March. In February, inflation was 2.9 percent. Economists were looking for an inflation figure of 3.1 percent. Month-on-month, prices edged up 0.1 percent in March. In February, the increase was 0.5 percent. During the January to March period, prices rose 2.8 percent from last year.

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ZLBT Morning Views >>> Bursa Malaysia

Malaysia Stocks Expected To Find Support
The Malaysian stock market has finished lower now in back-to-back sessions, declining more than a dozen points or 0.8 percent along the way. The Kuala Lumpur Composite Index finished just above the 1,520-point plateau, and now traders are anticipating mild traction at the opening of trade on Monday.

Investors’ sentiment in the week ahead, starting Monday, April 18 would partly hinge on the outcome of the Sarawak state elections due late Saturday, April 16.

The global forecast for the Asian markets is mixed, with positive economic data offsetting disappointing quarterly earnings results. Properties and oil stocks may provide a touch of support, although financials are likely to remain soft. The European markets were mixed on Friday and the U.S. bourses were slightly higher - and now the Asian markets are expected to split the difference.
The KLCI finished slightly lower on Friday on selling pressure from the plantation stocks, industrial issues and financial shares.

For the day, the index eased 3.86 points or 0.25 percent to finish at 1,521.94 after trading between 1,517.68 and 1,532.00 Volume was 915.038 million shares worth 1.565 billion ringgit. There were 452 decliners and 285 gainers, with 316 stocks finishing unchanged.

Among the actives, Maybank, Petronas Chemical, Sime Darby and Digi.com all finished lower, while BAT was unchanged and CIMB holdings ended higher.

Among Sarawak stocks which would be in focus include CAHYA MATA SARAWAK BHD (CMSB), NAIM HOLDINGS BHD, TA ANN HOLDINGS BHD, ZECON BHD, ENCORP BHD and  HOCK SENG LEE BHD (HSL).

The lead from Wall Street is mildly positive as stocks moved mostly higher over the course of the trading day on Friday after showing a lack of direction earlier in the session. The markets benefited from largely upbeat economic news, which overshadowed some disappointing quarterly results.

Wall Street Iinvestors will also be keeping a close watch on key corporate earnings to be announced this week, which include Goldman Sachs, Morgan Stanley, Citigroup, Wells Fargo, General Electric and others.

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