.png)
DJ MARKET TALK: KLCI May Fall, Snapping 11-Day Winning Streak
--------------------------------------------------------------------------------
0043 GMT [Dow Jones] KLCI may fall amid absence of fresh leads, bringing an end to a winning streak that lasted 11 days, longest in 16 years. KLCI ended +0.2% at 1344.37 yesterday. "We need some bullish developments to sustain the market's run-up, but newsflow has been rather thin this week. Investors may decide to take some profit at this point," dealer says; pegs immediate support at 1338, with resistance at 1350. Oil and gas-related stocks may continue to be in focus amid strong crude oil prices. "Bullish breakouts on oil and gas stocks such as Dialog (7277.KU) and Scomi Group (7158.KU) should accelerate further gains," TA Research says.
DJ MARKET TALK: USD/MYR Lower; Strong Support At 3.1950 - Dealer
--------------------------------------------------------------------------------
0035 GMT [Dow Jones] USD/MYR lower at 3.2040 vs 3.2100 late yesterday, extending recent downtrend to hit lowest level since May 2008 amid positive outlook for local economy, expectations of rising interest rates, improved risk appetite. But dealers say pair appears poised for rebound; "the pair has been moving downwards almost without stopping and is starting to look overdone. We expect strong support at the 3.1950 level, which should be a bottom for now," one says. Pegs resistance at 3.2200.
DJ MARKET TALK: DRB-Hicom May Rise To MYR1.25 On Potenza Pact
--------------------------------------------------------------------------------
0024 GMT [Dow Jones] DRB-Hicom (1619.KU) may rise to MYR1.25 (yesterday's high) after signing MOU with UK-based sports car maker Potenza for possible collaboration; DRB-Hicom says both parties will carry out feasilibility study on granting DRB-Hicom exclusive rights to manufacture, distribute Potenza cars for Asia-Pacific markets; collaboration may also include DRB-Hicom being made a development partner on new car models. "This will be a boost to DRB's reputation, but the immediate impact on DRB's bottomline will be rather limited as sports cars are a rather niche market. The market is still waiting for news on Volkswagen," dealer says, referring to recent market speculation Volkswagen, which plans to set up assembly operations in Malaysia to serve regional market, may select DRB-Hicom as a partner. Stock ends 3.2% lower at MYR1.20 yesterday
DJ MARKET TALK: Iris May Rise; Unit Awarded MYR115M LRT Contract
--------------------------------------------------------------------------------
0009 GMT [Dow Jones] Iris Corp. (0010.KU) may rise to test MYR0.18 (January 18 high), then MYR0.225 (1-year high) vs yesterday's close at MYR0.15 (down 3.2%) says dealer; this after company says unit Iris Information Technology Systems awarded MYR115.2 million contract by state-owned Syarikat Prasarana Negara to design, make, install automatic fare collection system for Prasarana's light rail transit (LRT) Kelana Jaya, Ampang lines in central Klang Valley. Adds, letter of award appoints Indra-Iris AFC Consortium as contractor for project, works to be completed within 15 months. Dealer says contract to raise Iris' top line, while generous margins will likely "significantly boost" its bottom line for 2010, 2011; "this one single contract is equivalent to a third of the company's entire 2009 revenue," dealer says. Iris posted 4Q net profit of MYR3.1 million on revenue of MYR132.5 million.
If you like the post, please subscribe to Bursa Chat. We will send you the latest post by Email
===> Click
Subscribe to Bursa Chat by Email
BACK TO CHAT BOX
--------------------------------------------------------------------------------
0043 GMT [Dow Jones] KLCI may fall amid absence of fresh leads, bringing an end to a winning streak that lasted 11 days, longest in 16 years. KLCI ended +0.2% at 1344.37 yesterday. "We need some bullish developments to sustain the market's run-up, but newsflow has been rather thin this week. Investors may decide to take some profit at this point," dealer says; pegs immediate support at 1338, with resistance at 1350. Oil and gas-related stocks may continue to be in focus amid strong crude oil prices. "Bullish breakouts on oil and gas stocks such as Dialog (7277.KU) and Scomi Group (7158.KU) should accelerate further gains," TA Research says.
DJ MARKET TALK: USD/MYR Lower; Strong Support At 3.1950 - Dealer
--------------------------------------------------------------------------------
0035 GMT [Dow Jones] USD/MYR lower at 3.2040 vs 3.2100 late yesterday, extending recent downtrend to hit lowest level since May 2008 amid positive outlook for local economy, expectations of rising interest rates, improved risk appetite. But dealers say pair appears poised for rebound; "the pair has been moving downwards almost without stopping and is starting to look overdone. We expect strong support at the 3.1950 level, which should be a bottom for now," one says. Pegs resistance at 3.2200.
DJ MARKET TALK: DRB-Hicom May Rise To MYR1.25 On Potenza Pact
--------------------------------------------------------------------------------
0024 GMT [Dow Jones] DRB-Hicom (1619.KU) may rise to MYR1.25 (yesterday's high) after signing MOU with UK-based sports car maker Potenza for possible collaboration; DRB-Hicom says both parties will carry out feasilibility study on granting DRB-Hicom exclusive rights to manufacture, distribute Potenza cars for Asia-Pacific markets; collaboration may also include DRB-Hicom being made a development partner on new car models. "This will be a boost to DRB's reputation, but the immediate impact on DRB's bottomline will be rather limited as sports cars are a rather niche market. The market is still waiting for news on Volkswagen," dealer says, referring to recent market speculation Volkswagen, which plans to set up assembly operations in Malaysia to serve regional market, may select DRB-Hicom as a partner. Stock ends 3.2% lower at MYR1.20 yesterday
DJ MARKET TALK: Iris May Rise; Unit Awarded MYR115M LRT Contract
--------------------------------------------------------------------------------
0009 GMT [Dow Jones] Iris Corp. (0010.KU) may rise to test MYR0.18 (January 18 high), then MYR0.225 (1-year high) vs yesterday's close at MYR0.15 (down 3.2%) says dealer; this after company says unit Iris Information Technology Systems awarded MYR115.2 million contract by state-owned Syarikat Prasarana Negara to design, make, install automatic fare collection system for Prasarana's light rail transit (LRT) Kelana Jaya, Ampang lines in central Klang Valley. Adds, letter of award appoints Indra-Iris AFC Consortium as contractor for project, works to be completed within 15 months. Dealer says contract to raise Iris' top line, while generous margins will likely "significantly boost" its bottom line for 2010, 2011; "this one single contract is equivalent to a third of the company's entire 2009 revenue," dealer says. Iris posted 4Q net profit of MYR3.1 million on revenue of MYR132.5 million.
===> Click
Subscribe to Bursa Chat by EmailBACK TO CHAT BOX
No comments:
Post a Comment