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The Star Online: Business

Support Line
UEM Land, IOI Corp inch up in early trade
Malaysia-Market factors to watch on March 21(Thursday)

Posted: 20 Mar 2013 07:06 PM PDT

Thursday March 21, 2013

CSC Steel has been range-bound since Aug 13, last year, interpreted as base building process. The trend ahead is pretty simple. A positive breakout of the RM1.26 barrier may drive prices up to challenge the RM1.50 heavy resistance. On the opposite, a crack of the RM1.13 solid floor would signal a downtrend continuation.

KSK Group

KSK Group shares pulled back to a 10-month low of 56 sen on Tuesday before pausing. Apparently, the prevailing trend is bearish, but the rising moving average convergence/ divergence histogram offers a ray of hope that prices may have found the bottom. Stronger support and stiff resistance are expected at the 52-sen and 64-sen level respectively .

MAA Group

RENEWED bargain hunting pushed MAA Group to a near five-month high of 55.5 sen during intra-day session. Technically, indicators are pretty encouraging. If the shares can overcome the relatively strong barrier of 60 sen, the outlook would be clearer, enroute to the 78.5-sen level. Current support is pegged at the 50-sen mark.

CSCSTEL : [Stock Watch] [News]
MAA : [Stock Watch] [News]

UEM Land, IOI Corp inch up in early trade

Posted: 20 Mar 2013 06:18 PM PDT

Published: Thursday March 21, 2013 MYT 9:16:00 AM
Updated: Thursday March 21, 2013 MYT 9:18:16 AM

KUALA LUMPUR: Malaysia's blue chips were firmer in early trade on Thursday, underpinned by gains in UEM Land, IOI Corp and several banks as investors turned more optimistic, especially after the stronger overnight close on Wall Street.

Asian shares inched higher and the dollar was underpinned on Thursday after the US Federal Reserve maintained its commitment to a very accommodative monetary stance, and market nerves over the Cyprus bailout wrangling calmed, Reuters reported

The Fed ended a two-day meeting on Wednesday with a pledge to keep its aggressive policy stimulus despite improvements in the U.S. economy, pointing to still-high unemployment, fiscal headwinds out of Washington and risks from abroad, it reported.

At 9.03am, the FBM KLCI was up 1.53 points to 1,633.07. Turnover was 13.86 million shares valued at RM19mil. There were 60 gainers, 38 losers and 62 counters unchanged.

Hwang DBS Vickers Research said the KLCI could add on to its two-day cumulative gains of 10.2-point by riding on the prevailing recovery momentum. On the chart, the benchmark index may challenge the immediate resistance barrier of 1,635 on Thursday. The research house said the sentiment would perk up after Wall Street extended its run-up last night. Bullish investors pushed up major US equity indices by between 0.4% and 0.8% at the closing bell on the back of better economic outlook.

Petronas Gas rose 30 sen to RM18.80 with 100 shares done. UEM Land and IOI Corp added five sen each to RM2.69 and RM4.67.

MPHB gained four sen to RM3.68. Among the banks, HL Bank and Maybank edged up four sen each to RM14.48 and RM9.16.

Malaysia-Market factors to watch on March 21(Thursday)

Posted: 20 Mar 2013 06:06 PM PDT

KUALA LUMPUR: Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market. GLOBAL MARKETS-Shares end up after Fed, Cyprus fears ease

SE Asia Stocks-Mixed; Cyprus bailout worries weigh

WHAT IS HAPPENING IN MALAYSIA, IN TIMES LOCAL FOLLOWED BY GMT:

* International Trade and Industry Minister Mustapa Mohamed opens Asean Comprehensive Investment Agreement Forum at Berjaya Times Square Hotel, Kuala Lumpur at 0800am (0000).

* Bank Negara Malaysia Assistant Governor Sukdave Singh attends seminar on the central bank of Malaysia governor's address on Malaysia's economy and panel discussion at Bukit Kiara Equestrian and Resort, Kuala Lumpur at 1400pm (0600).

MARKET NEWS

> Nikkei hits 4-1/2 high on Fed optimism, BOJ easing hopes

> US STOCKS-Wall St ends higher as Fed keeps stimulus in place

> TREASURIES OUTLOOK-Prices dip after rally on Cyprus worries; Fed on hold

> FOREX-Yen on defensive as new BOJ governor awaited > PRECIOUS-Gold slips after Fed maintains policy, euro rise supports

> Brent oil rises from 3-month low as Cyprus concern eases

> VEGOILS-Palm oil gains to more than 1-wk high on rise in exports MALAYSIA IN THE NEWS:

> Abertis moves closer to airports sale -sources

> Malaysia charges Filipinos with terror, waging war-report

> HIGHLIGHTS-Malaysia c.bank governor's media briefing

> HIGHLIGHTS-Malaysia c.bank's economic outlook for 2013

> Islamic finance body in "final stages" of 1st sukuk issuance-Malaysia c.bank

> Malaysia c.bank sees steady 2013 growth, lingering global risks

> Motor racing-Formula One statistics for Malaysian Grand Prix

> Motor racing-Raikkonen seeks happy Malaysian anniversary - Reuters

VEGOILS-Market factors to watch March 21

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS

* Malaysian palm oil futures rose to the highest in more than a week on Wednesday on higher export demand, although gains were curbed after Cyprus's rejection of a proposed bailout plan led to worries of a default.

* Chicago Board of Trade (CBOT) wheat futures rose to a three-week high on Wednesday on brisk demand from feeders and exporters, while corn rose to a six-week high with the market buoyed by tight stocks, firm cash and slow farm sales.

* Brent crude oil rose above $108 a barrel on Wednesday, recovering from a three-month low, after the U.S. Federal Reserve signalled it would continue its stimulus programs and on optimism that European policymakers can keep a debt crisis in Cyprus from spreading. MARKET NEWS

* Asian shares inched higher and the dollar was underpinned on Thursday after the U.S. Federal Reserve maintained its commitment to a very accommodative monetary stance, and market nerves over the Cyprus bailout wrangling calmed.

* Commodities rallied on Wednesday as the U.S. central bank's assurance of continued stimulus for markets and an easing of worries over Cyprus drove oil, metals and crop prices higher, snapping two days of losses. RELATED NEWS

> Malaysia's March 1-20 palm oil exports up 13.7 pct -SGS

> Malaysia's March 1-20 palm oil exports up 11 pct - ITS

> China soy cancellation threats spook Brazil; doubts remain

> Brazil sugar exports to see smoother sailing than soy

> U.S. drought relief improving, cold snap being eyed DATA/EVENTS

> Cargo surveyors to release Malaysia's March 1-25 export data on Monday. - Reuters

Kredit: www.thestar.com.my

Rabu, 20 Mac 2013