12/10 Malaysia’s palm oil stockpiles rise to an eight month high of 1.58 million tones in September, the MPOB said today.
12/10 August industrial production decreased 5.7 % year-on-year on drops in manufacturing and mining; fall is least in 10 months.
12/10 At 12:30 pm the FBM KLCI is down 0.08 points to 1,233.74; MISC loses 12 sen to RM 9, Supermax is up 13 sen to RM 2.94, 3A is 16sen higher at RM 1.10.
12/10 At 11:05 am, CPO 3-month futures is up RM 39 to RM 2124 per tonne, Nymex crude oil in electronic trade, down 42 cents to US$72.19 per barrel.
12/10 Bursa Malaysia opens the week up 1.78 points, or 0.14 pct to 1235.60 on extended buying momentum.
9/10 The FBM KLCI closed up 3.73 points to 1233.82. Genting +13 c to RM 7.33, BAT -20 c to RM 44.80, HLBank +17c to RM 6.79 and Parkson +11c to RM 5.31.
9/10 Maybank CEO Wahid dismissed market talk the bank was looking for potential acquisitions. He said expansion would be through organic growth.
9/10 Spot gold is down US$8.47 to US 1,046.63 at 4 pm as investors sold to lock in gains. Gold has risen 4.34% since beginning of the week.
Showing posts with label Palm oil. Show all posts
Showing posts with label Palm oil. Show all posts
Monday, October 12, 2009
Monday, March 3, 2008
Market dropped because of Dow
KLCI dropped by 24.17 to 1333.23 at noon because Dow last Friday fell 315.79.
561 counters are Losers and there are only 104 winners, whereas 136 counters remain unchanged.
SJ securities has done a good analyis of the markets. I will summerised the report as follows:
Palm oil breezed through RM 4000 mark. A level that has far exceeded the high side of analysts' expectation at RM3,600. Oil price at USD102. It has also exceeded the fair estimate of USD87. And the surprising common denominator threading through these 2 commodities is the high stockpiles. There is also the slowing down on global growth which has resulted in demand weakening.
There can only be one answer. Global funds have shifted towards investing in commodities. Equity and credit markets are stuck in a meltdown.
It looks like the equity market globally, will not recover so soon. Chartwise, when the palm oil hit RM 4,400, oil is at USD 116, and Gold at USD 1047, then perhaps, it is time to take a good book at the stockmarket. On the chart, these are the resistance levels, and a good bet for a correction in commodities, and a shift back to equity.
561 counters are Losers and there are only 104 winners, whereas 136 counters remain unchanged.
SJ securities has done a good analyis of the markets. I will summerised the report as follows:
Palm oil breezed through RM 4000 mark. A level that has far exceeded the high side of analysts' expectation at RM3,600. Oil price at USD102. It has also exceeded the fair estimate of USD87. And the surprising common denominator threading through these 2 commodities is the high stockpiles. There is also the slowing down on global growth which has resulted in demand weakening.
There can only be one answer. Global funds have shifted towards investing in commodities. Equity and credit markets are stuck in a meltdown.
It looks like the equity market globally, will not recover so soon. Chartwise, when the palm oil hit RM 4,400, oil is at USD 116, and Gold at USD 1047, then perhaps, it is time to take a good book at the stockmarket. On the chart, these are the resistance levels, and a good bet for a correction in commodities, and a shift back to equity.
Subscribe to:
Posts (Atom)