FBM KLCI ...How did the FBM KLCI stocks' elect perfom in 1H09 ?

MarketWrap : erratic...another setback at 1090

Despite initial gains, mkt lost steam after klci looked fragile at 1080 above.Profit take later kicked in on the final day of 1H09. Regional also their gains eroded but firm.

New spot July09 finished on a bearish tone on downside impact was greater due to it thin size. It finished almost 10point than the expired Jun. This will put some confusing moment on the continuous chart tomorrow.

Below 1070, do assume negative tone. Only go long if Jul trades above 1070. Above the uptrend line( red line), mkt trend is up.

FKLI : morning gossip...1080-1085 b4 klci

DJ +90/+1%, rallied Monday, with oil and technology shares leading the way as investors scooped up shares hit in the recent retreat, at the start of a holiday-shortened trading week...CNN

DJ futs flat/ NK +161/+1.6% Kos +16 Commodity generally higher. "More-speculative" product like crude oil while agricultural products are trading lower

Will finish the 1H09 with a bang ? Maybe not above 1100 but put in a good position for the next rally.

Fkli is seen flirting with 1085-1090. A convincing run above 1090 is hard, unless klci trades above 1085.

Above 1080 is a trading buy mkt.

MarketWrap : very quiet sluggish but hope still high

A very quiet day. Despite weak HS, our mkt was firm for a lack of sellers, probably sidelines amid the ongoing "Invest Malaysia' roadshow

Mixed signals from overseas mkts stalled klci upside. Weak commodity mkt also dampened mkt mood. However, downside was limited as players hanged on to last week momentum..... keeping the mkt in +ve zone for another day.

FKLI : morning gossip....1075-1080

DJ -30

8.30 : DJ futs -20 NK +30/0.5% Kos +8. Commodity price is seen trading lower today.

Weak DJ may spark selling interest in the initila trade but is unlikley to affect the overall positive tone generated last week. If 1080 resistance break, a run up is expected. Otherwise, we are looking at 1070-1080 boring range.

Above 1070 is a buy mkt today.

Economic data week ahead : US focus

selected few........

Mon: Madoff sentencing....12 years to max.150 years

Wed : May pending home sales ( est +1.1% vs +6.7% Apr)

Thus : June employment report ( -370k jobs vs -345k in May ), unemployment rate( est 9.6% vs 9.4% in May)

Fri : Holiday

MarketWrap : pausing or toppish ?....the former

Regional firm as financial stocks extend gains. Commodity strong.

A quiet day with mostly profit take ahead of the weekend. But underlying sentiment remains strong, on course to challege the critical "pre 1100" resistance again if mkt opens firm on Monday.

While its still to early to write down 1100-1150 range, do treat the mkt a "buy" if it trades above 1070 as potential of a run up is great.

FKLI : morning gossip....1080-1083

DJ +171/+2%, thanks in part to strong demand for Treasury's $27 billion 7-year note auction, which sent bond yields lower. ( lower yield means no pressure to raise interest rate ) A rally in commodities and some end-of-quarter buying also helped.

8.15 : DJ futs -11. NK +24/+0.3% Kos +4/0.3%, Crude oil strong above 70 lvl.


FKLi will see more upside first before any weekend's selling. FKLi Jun is seen within 1077-1083 in early trades. Firm tone is expected at least till HS opens, where the mkt will take the next cue for direction.

A significant breakout above 1090 is unlikely, at best the mkt is seen matching the recent high level. Given +ve external, downside is seen limited at 1070 today.

MarketWrap : almost back to year-high...

Regional strong on financial and property. Commodity price higher in late afternoon, crude oil at 4-day high.

After a strong morning session, FKLi took a breather near 1070 from 2.30 till 4.00pm, trading at a discount to klic. Thenafter, it came alive on its own after HS closed.

Prices power ahead, taking out all short term SMA resistance. The “steepness” of recent upward move is a surprise. Would not discount a move towards 1090 if external factors continue to strengthen tomorrow, but probably too “steep” to go position-long at this point (for my taste) ahead of the weekend.

The mkt is expected to bring forward “+ve tone” . Therefore, selling is for intra-day play as the mkt is unlikely to shift back to negative trend, meaning below 1050. Immediate support is raised to 1060

Focus: weakness for intra-day sell. Buying tomorrow must have a tight stop.

Fkli : morning gossip....1055-1060

DJ -23, trimmed gains afer Fed said economy is still contracting albesit slowing and weaker than expected home sales data. Consolidation phase. But, European clsed higher, Nasdaq and S&P also higher.

8.20: DJ futs -3. Nk +40. Kos +9.

FKLi is likely to consolidate within "meaninglees" 1050-1060 range first before any attempt at 1070. Downside looks limited at this point but the current external may not be enough to trigger a sustainable breakout above 1060. Strong upside will depend on HS perfomance today.

Above 1050 is a buy mkt.

MarketWrap : mkt tone turning positive....

Strong follow-through that saw regional reversed some of Tues losses. Commodites recovery mode set the tone higher. Mkt hit the immediate resistance –7SMA. Technically, the mkt is now at a junction, a premature scene if you are expecting 1000k first, that could reverse the recent downtrend tone.( above the red line)

Short is in a tight spot now as a firm opening tomorrow would confirm today’s breakout scenario that could propel the mkt towards 1070 tomorrow , followed by a possible of a breakout towards 1090 in the coming days.

However, I do not expect big rally for the rest of the month as the highly anticipated 1000 k that did not materialise could leave many players at the sidelines yet. Plus, SMAs still converging in a tight range. So the mkt may just consolidate around the mid range of 1030-1090 and upward-bias

With the recent downtrend tone getting thinner, treat the mkt as neutral, if not, a positive one. Range bound play or go for crossover strategy - Sell below 1055, buy above 1060.

FKLI : morning gossip....1040-1045

DJ -16.

8.20 : DJ futs +4. NK +20. Kos +2. Commodities higher.

Looks like a quiet mkt before HS opens. Given strong commodity price and it positive correlation to equities, the mkt is seen firm taking advantage of yesterday solid performance. At best the mkt may put itself near critical resistanve lvl. A breakout to neutral ground is unlikely today.

Watch out for price action near upper lvl to judge players convinction that this is still a sell mkt.

Both mkt is seen trading within 1040-1045 in the early stage. The mkt may open soft as fpr a lack of overnight DJ support to yesterday klci's gap-up in the preclosing stage.

MarketWrap : late recovery...to consolidation mode ?

Mostly lower before crawling back in late trading buying. The mkt also saw bargain near anticipated support. It did perform more positive than yesterday probably due to mixed signals where DJ futs and European mkts show positive, albeit mildly. Gap closed. Sentiment turn intra-day positive after 4pm.

Klci jumped 5p in the preclosing phase, pushing fkli to intra day high. While a strong rebound from 1030 could indicate a pause from the recent sharp losses, the downtrend is not over till it take out 7SMA or the shortterm dwtrend line.

Above 1030, don’t sell too soon. Check whether it has a chance to breakout from the resistance mentioned above.

FKLI : morning gossip... 1035-1040

DJ -200/2%, ending at three-week lows, as the World Bank's weak outlook on global growth and a selloff in commodity prices sent investors heading for the exits...CNN

8.30 : DJ futs +13, NK -200/-2%, Kos -2%. Commodities price lower.

Fkli look set to venture into 1030-1050 range in the coming days. . A gap down opening expected near 1035. Market is expected to be bearish today.

And the same time i dont think we will see 1000 yet, at least not today. Knee jerk reaction possible below 1030 but it looks a strong support on closing basis. At 1030, Fkli is down 1.3%.

MarketWrap: bearihs trend...1000 eye ?

Despite a firm regional mkt, our mkt saw early sell off and recovery was shortlived as selling persisted in the PM after HS trimmed gains. Earlier, falling commodities prices put pressure to our mkt, some blamed the worsening flu situation. Later, technical related selling dragged price bearish zone in the near term-below 1050.


The mkt seems buyer-less. Could it be that players are looking at 1000 already? We have to look out for price action near 1030 strong support lvl first before anticipating 1000. 1000's wish may come true if commodity continues to fall while renewed major technical selling is seen below 1030.

FKLI : morning gossip.... 1060-1065

DJ -15.

8.20 : DJ futs -5. NK +8 Kos +5

Fkli seen stuck 1060-1070. Above 1060 is intra-day buy. Upside will need strong boost from HS. And cash remains bearish if it stay below 1065.

Economic data week ahead : US focus

selected few .....

Tues : May existing home sales ( est growth )

Wed : May new hoem sales ( est up to a 360k vs 352k unit in April ), Fed Reserve interest rate decision

MarketWrap : weekend's bounce....

Fkli closed at the high following a jump from 1061 to 1064 in the preclosing phase, no signifcant event.

Rebound after 4-day of losses but gains were mild as negative sentiment still prevails. Its too early to expect the mkt to reverse this week downtrend tone in the coming days. Unless a big boost from overseas mkt, our mkt is seen consolidating within 1050-1070 neutral range at best while the danger of a fresh legdown looms unless the mkt crosses above 1070.

If 1050 breaks next week, brace for another sell down. Longs can only breath easier if mkt crosses above 1070. Hopefully, DJ will gain tonight and provide some follow through.

FKLI : morning gossip

DJ +58

8.40 : DJ futs +18 Nk +90 Kos +9. Commodity firm.

Enough to push it back abveo 1060 ? or just 1050-1060 till HS opnes. I think the latter. I think the mkt would just probably the end the week off lows but remains a negative for next week.

MarketWrap : another sell off...sentiment worsen..

Selling across the board, as negative factors keep appearing -downgrading of bank, flu worsening - building up this week negative tone. Mkt basically breaks all short term support lvl, leaving only 30-day SMA, calling for more selling. Technically, still no sign for bargain. RSI/Stoch near oversold but still pointing downward.

While trend remains down, selling above 1050++ is not recommended as it may signal a rebound. If wanting to sell, sell at rebound target , the downtrend line with the assumption that the dwtrend will remain. Sell below 1050 for intra-day.

Focus, look for strength, if any, to long, betting for a bounce.

FKLI : morning gossip.......opening flat near 1070

DJ -7. The Dow and S&P 500 both fell about 0.1 percent on Wednesday as U.S. bank shares took a hit from a broad debt ratings downgrade from Standard & Poor's and uncertainty over the government's extensive proposals for banking-industry reform. RT

DJ futs NK -113, on banking shares. Kos -3.


Below 1070 is a fresh sell mkt but FKli is seen safe above 1070. However upside probably same as yesterday, 1070-1080.

Bear in mind that the mkt may "try" to bounce from this week 20 point fall but the trend is still downward until a strong confimation.

Position buy above 1075 and cut below 1070. Intra day sell below 1070, target 1060++.

MarketWrap : selling continues...

Losses extended but mkt is taking losses at one lvl at a time while waiting for external factors to recover. Technically negative but bargain is expected around 1060 if mkt dips further tomorrow. Above 1070 is an intra day buy tomorrow.

FKLI : morning gossip... 1070-1075 opening seen

DJ --100/-1, falling for a second session in a row on continued worries that the pace of the recession is not waning as much as has been hoped...CNN ( same old story like yesterday)

8.17 : DJ futs -7. Nk +20 Kos -7. Commodities lower in early trade.

FKLi is seen heading towards 1070-1080 range trading again. While bargain is likely at the lower end, upside will depends on HS price action. If Klci breaks 1070 , the next support is seen at 1060. Therefore, the worst case scenario for FKli is to go towards the 1063++.

Since the mkt is not expected to show any significant reversal signal, like back above 7SMA, today, wait for both mkt to go near "oversold" before engaging bargains. That probably would happen today also.

MarketWrap : a tough day...but bargains noted at lower end...

Another profit taking day. After a bearish start on DJ “recession” fear, regional bourses managed to reduce losses as players took comfort of a stronger commodity price as $ drop sharply. Klci probably had its worst day this year as bluechips took a big hit. Fkli still has high hope for the Klci to recover towards 1080.

Both Fkli and Klci dip into technically negative zone. While Fkli was “OK”, Klci bearish technical outlook will probably give longs a big headache in the coming days. More downside is expected until it forms a white candlestick. Or could 14SMA (the yellow line) is the key support again?

In the meantime, upside is seen as “recovery” rather than a renewed uptrend. Above 1083, can give fresh long a try. For keen sellers, sell below 1080 and 1070.

FWD..."THE" 30 stocks....

Dear High Net Worth-ers,

The new Malaysia financial benchmark, FTSE Bursa Malaysia KLCI ( FBM KLCI ) constituents/stocks were decided after a review yesterday.

Please see attached for the 30 stocks.( % weightage as at 12 June 2009) This list will remain until the next review in Dec 09.

FKLI would adopt FBM KLCI as the underlying index effective 6 July. Therefore, the current spot FKLI Jun09 will be the last contract to use KLCI index to calculate the settlement price. Yes, KLCI sayonara

FKLI : morning gossip

DJ -190/-2%, as weaker oil prices and more geopolitical unrest ( Iran & North Korea) raised worries that the recession may not be waning as soon as some had hoped...CNN.

8.25 : DJ futs 0 . NK -140/-1.5% and Kos -1%. Commodities weak.

A real test today to see whther the recent toppish outlook would shift into a pullback mode. FKLI below 1080 is bad for the longs as 1100 will seem far feteched in the coming days. Klci downside, however, is seen near 1085 and strong support at 1080 today. So it will be a close call today.

I suspect Fkli may get stuck near 1080 at the opening, followed by a lower 72-80 trading band if selling pressure persists. I doubt there will be any significant buy signal today.

MarkerWrap :

Klci ( financial stock) and SH outperformed the rest today. However, Fkli maintained a safe discount throughout the day as players rather stick to the “majority” sentiment but downside was limited too, as players do not wish to totally disrespect “Malaysia boleh” spirit. Translation: boring.

Major mkts reacted negatively or a cue to take profit to falling commodity price as a result of a stronger $. DJ futs is bearish too but if we use last week’s cooked up story of inflation fear ..then we should see a positive DJ tonight. Commodities down >inflation down > DJ up. hmmmm

FKLI looks pretty toppish. Strong follow through tomorrow could shift the mkt into a pullback mode towards 1060++ in the near term. A reversal from significant lvl like 1100 usually generate strong downside force. Well, this is just precaution as Fkli still above the uptrend line.

Buy on strength –above 1090, otherwise stayout and let it consolidates first.

Economic data week ahead : US focus

selected few.........

Tues : May housing starts ( est 483k unit vs 458k Apr), buiding permits ( est 500k vs 498k Apr ) , PPI

Wed : May CPI ( est -0.9% vs -0.7% Apr) , FedEx Qly result

MarketWrap : positive but cautious tone...

Very quiet day. Klci clsed above 1090 but off highs as players take profit ahead of the weekend. Fkli jumped from 1087.5 to 1090.5 in the preclosing phase after a sluggish performance that lack of a fresh momentum. Retail were said to be mired by "too high" fear factor.

Regional finished positive especially NK and HS that could see as a springboard to further leg up next week.

Technical picture is looking good to challenge 1100 next week. This lvl seems toppish this week but expect more buying interest next week if mkt moves towards this resistance next week. Upside target is to move to a new trading band of 1100-1150. A slow and steady move trending along 7SMA like the previous week.

FKLI : morning gossip

DJ +30, on strong economic data. Retail and auto sales rose. European mkts finished 0.5 to 1% higher.

8.10 : DJ futs +1 Nk +89. Kos +10

I can smell 1100 already!! too optimistic? maybe yes on a closing basis...but not suprise if any big moves towards this resistance on intra-basis. At +0.5%, our mkt is seen at 1095++.

As far as FKLi is concerned, 1080 looks good as a support today, expecting a firm if not bullish mkt. But below 1088.5 is still chart negative tone. Will have to rely on Klci strength to push it above 1090.

Focus on buy unless you think the mkt will close below the 2-mth old uptrend line. Selling at higher end is for intra-day play. Technically, overnight short position is only favorable if Jun closes below 1080.

MarketWrap : mixed....Fkli late profit taking ..

A solid performance from Klci despite not so rosy external factors. The wake-up call was at 3.40 pm, when Klci saw strong buying interest among financial stocks. FKLI hit 1091.5 on buystops, but zero follow through as it was wary of a lack of HS’s positive. Also, volumes were extremely low. FKLI dipped to 1083.5 from 1086 in the perclosing phase on mkt orders.

Regional mixed without much direction, staying close to “0”. NK just a tad off 10k after few failed attempts. Like DJ, HS also saw bargains on the downside. Crude oil hit $72, a first this
year.

Technically, no follow thorugh and stuck in a neutral range. If 1080-1086 range , stay out. For intra-daytrades, a breakout strategy is preffered tomorrow.

FKLI : morning gossip....1080-1085 till 9.00am

DJ -24, did not perform to mkt expectations on inflation fears ( short term noise) European mkts cls aobut 1% higher.

8.10 : DJ futs +2. Nk -10. Kos -6

Initial setback is expected for FKLI due to the premium. However, expected a firm tone mkt as more money are expected to put into work on the downside and would not discount another run up in the later stage. KLCI is likely to stay above 1080 until fruther fresh external factors appear.

Below 1079 would provide intra-day sell signal.

FKLi is seen opening soft around 1085.

MarketWrap : highest point y-t-d....

After a 2-day weak performance, the mkt not only neutralize its negative tone but also went into bullish mode with new year highs. Like in the previous week, strong crude oil price is used as a cue to buy across the regional.

Rising commodity price is seen as a sign of economy recovery. (soaring commodity price is actually double-edge sword. – eco growth but inflation. But it would take a long time before inflation worry set in, like when crude oil trades above $100 etc) Therefore, in the short term, strong positive correlation is expected between equity and crude oil

1100 is just a touch away! Fkli sentiment is definitely more eager than Klci in this respect. 1100 is seen as the resistance this week. Any buying above here can only be justified if fkli premium to klci is not more than 5p.

The support for this new wave is raised to 1074++.

FKLI : morning gossip

DJ -1p.

at 8.20 am : DJ futs -5. NK +50. Kos +10. CO above $70 for the first time since the burst, 70.7 in Asian.

Probably a quiet morning but expect a firm mkt, meaning dwside will be supported by short term technical support, on strong commodities and expectation of a rebound in HS share.

FKLi is seen stuck within 1067-1076.5. To the upside, any attempt above 1080 can only be sustained if Klci trades above 1076.

FKLI dwside is HS lead. So watch out for HS mkt.

MarketWrap : stablise..getting ready for next leg up ?

Negative tone continues but losses limited near immediate short-term support lvl. (uptrend line and 7SMA)- directionless condition. Unlike yesterday, no major selling seen today, players are probably waiting for HS to rebound instead. In fact, Fkli looks more confident than yesterday.A firm DJ futs and European in the afternoon also help to build confidence.

FKLI remains resilient, back above 1070 but still cautious and must break higher soon before the pressure gets to big near the support lvl. A firm opening tomorrow should see the mkt trying for 1080 again, especially if Klci breaks above 1076. Downside scenario remains the same, 1060++ unless external factors very bearish.

FKLI : morning gossip...1065-1072

DJ +1.

DJ furs +20. NK -40. Kos +14. Commodities prices stabilise, CO +2%.

FKLi is seen firm and tight range, 1065-1072, before HS opens. FKLi is seen hovering near 1070 on firm external factors that would discourage follow through selling. But also upside is seen limited until any leads from HS, if any. HS may opens higher on fimr commodities prices.

FKLI mkt may not have fresh sell signal if above 7SMA but sentiment will remain negative, targeting 1055++ unless the mkt crosses above 1072 at least.

1055-1065 or 1065-1072 ?

MarketWrap : a weak start....hamper by HS...

Regional mixed but HS shrap drop dragged prices lower. While Klci managed to maintain above 1070, Fkli lost ground after 4pm as the combination of HS and European mkt losses proved too hot to handle.

Falling commodities prices like crude oil -3% contributed to the broad slump on profit take.

A bearish engulfing candle...not good. But the uptrend tone remain intact unless Jun closes below the uptrend line. Focus is still on buy. Selling for short term play.

As for buy, wait for bargain near 1050 or buy above 7SMA ( if breach n regain) or above 1070.

FKLI : morning gossip

DJ +12 on strong jobs data. European mkts clsed 1% higher.

DJ futs -25. NK +98. Kos +4.

It does look like a firm mkt today, a continuation of last week strong tone. Immediate trading range is seen at 1070-1080. While downside is seen limited, the mkt could do a fresh breakout to a higher ground.

Economic data week ahead....

selected few....US focus

Wed : Fed Reserve's take on economic activity

Thu : May retail sales (est +0.3% vs -0.4% April)

Fri : G8 finance ministers meeting in Rome

MarketWrap : year high and bullish closing...

Despite initial cautious tone, klci managed to crawl above 1070 in the last 15 mins. Klci fnished at a new year high, +3% this week. Fkli, which anticipated the cash mkt last mins push, was mostly traded around 1075.

Sentiment was boosted by European strength for two days in a row, taking over the driver seat from a higher-but-seesawed HS index. This week, strong energy or commodities price buoyed global mkt sentiment.

FKLI technically, a bullish breakout above 1070, targeting 1100 next week. Uptrend mkt is expected unless major support lvl, like the uptrend line or SMA, is breached.

FKLI : morning gossip

DJ +70/1%, led by energy, financial and tech shares, as investors welcomed signs of improvement in the labor market ahead of the big monthly jobs report...CNN.

European clsed marginally higher, sharply off thier highs

DJ futs +6. NK +80/0.7%. Kos +10/+0.5%

Looks like a firm start today. Trading range is raised to 1065-1075 in the few first hours of trading. Given the already-strong-premium, Fkli may not open above 1070 resistance before cash opens. Still, initial movement is up.

Above 1060 is a buy market. Q is can the mkt finishes above 1070.

MarketWrap : very strong in late afternoon....

Fkli mostly sideways within 1050-1060 till 3.30pm before a breakout following a strong European initial trading hours. Prices +1% as UK house prices up in May, extending hopes for further economy recovery. Regional mkts settle lower but recoup almost 50% of early losses.

Klci, which was firm from the onset closed at the high of 1063.97/+8. Fkli managed to hold above 1050 thanks to klci firmness before staging a resistance breakout.

Technically, mkt moves from one end to another end within a consolidation band of 1050-1070. A good finishing above 1070 tomorrow would create a strong springboard towards 1100 next week.

Above 1060 a buy mkt, waiting for a breakout towards 1100 next week.

FCPO : morning gossip

DJ -65. European closed down 2%.

DJ futs -18 NK -60. Kos -4.

External factors will reinforce follow through selling for the start today. 1050 is likely to give way in initial trading with next immediate support near 1044.

Can the mkt reverse the morning expected fall ? Any upside will rely on outisde factors first like HS.

Below 1060 is a sell mkt.

MarketWrap: weak momentum continues....

KLCI was weak from the onset and externally driven. The mkt did not pay much attention to positive factors but was sensitive to negative one. After HS yesterday, European mkts spook the mkt today. As a result, FKLi saw its early premium dissapeared in a flash in late trading.

FKLI, technical outlook turns negative and could shift towards short-term sell tone if 1050 fails to hold tomorrow. If 1050 does hold, mkt still remain neutral at best unless 1070 resistance is taken out. Translation : 1050-1070 not easy to trade. Jun's fall was cushioned by 7SMA and if this support fails, the next target is 14SMA or the uptrend line.

Trading plan : while the immediate action is likely to be a sell , but prefer to go long as mkt was well support above7SMA or 14SMA in the recent days. But buy-on strength above 1064.5 or 7SMA

FKLI : morning gossip

DJ +20p. managing an advance at the end of a choppy session after a positive housing report and a series of not-as-bad-as-expected auto sales reports gave investors some optimism. ...CNN

DJ futs -7. NK +60 Kos +12.

FKLI is seen stabilising today, at least till HS opens. In the meantime, Fkli Jun is likely to flactuate within 1060-1070 range but negative tone will pervail first unless the mkt can convincingly trades above 1068.5.

Support remains at 7SMA.

FKLI Trading : near stop level.....

The mkt was trading at a lower-tha- expected band of 1060 rather than 1070. This put Jun in danger of a re-visit to short term support of 1050 if mkt opens soft tomorrow. The mkt must move back up 1070 to create fresh upside momentum.

Unless external factors are extremly negative, Jun contract is expected to hold above 7SMA, near 1050++. Meaning the recent uptrend tone will remain.

MarketWrap : a day of profit taking......

Regional mkts saw players sell into high today as "excessive gains" sentiment prevails. FKLI tracks HS performance with more selling in the afternoon after NK closed higher but at its intra-day low. HS snaps a 3-day winning streak.

Unlike FKLI, KLCI however was calm and resilient. Both mkt hit new high in early trading before succumbing to selling pressure.

FKLI :morning gossip

DJ +222/+2.6%, better-than-expected readings on manufacturing activity raised hopes that a global economic recovery is brewing.

DJ futs flat. NK +80/+1%. Kos +1.4%

DJ performed stronger than expected by almost 100p. FKLI seen heading new highs today, targeting a higher trading band of 1070-1080. The ulitmate target is 1092.

FKLI Trading : stop loss revise to trailing stop....

A technical breakout from 1030-1050 to a likely higher trading range of 1050-1100 in the coming days. The mkt reinforced its buy-tone with this performance, targeting 1100. At the current momentum, sell-on-strength is very dangerous.

Support is raised to 1050++.

MarketWrap : technical bullish breakout...

Riding on regional bullish stance, FKLI extended its positive outlook to bullish in the coming days. HK and China shares hit 9/10 month high as new data showed that China is recovery.

FKLI : morning gossip

DJ +96/1%.

DJ futs -14. NK +13p. KOs -4p

GM will file for bankruptcy at 8am Monday. ( US time) Obama will address the nation before noon.

Back home, positive sentiment is likely to stay today. Above 1050 is a strong mkt.