Keck Seng - In Strong Cash Flow & Financial Position, Slow & Steady Uptrend

Chart: KSeng daily chart (Source: tradeSignum)

Fundamental Review & Outlook

Keck Seng is involved in the cultivation of oil palm, Cocoa, processing and marketing of refined palm oil products, housing development, property investment and investment holding. The main factor for the recent huge income growth was due to the share disposal of its entire shareholdings of 35.58m shares in Parkway Holdings Ltd with a gain of RM260.14m. KSeng has became one of the Cash Rich company with the one-time gain income. KSeng is maintaining a slow but steady growth in the last few quarters. The company's 1-for-2 bonus issue plan is anticipated to be completed in the 1st quarter 2011.

Technical Review & Outlook

KSeng is in a steady uptrend with the supports of bullish technical data. The stock hit the record high last week with low volume transacted. It looks a bit tired and needs more convincing news to push the price higher. Otherwise, it may fall into consolidation mode and may have a pause in the bull run. The current bullish news are high CPO price, bonus issue plan, and healthy financial position.

Technical Indicators

Volume: Stock price needs further buying support to breakthough RM6.80 main resistance.
MACD: Bullish, after golden cross being constructed in early Dec 2010.

RSI: Bullish, hovering at 70 level.

EMA50, 100, 200: Bullish, as long as it stays above all these lines.

Bollinger Bands: Bullish, above mid-line.

Support level

RM6.50, RM6.25.

Resistance level

RM6.80

Risk

1. Slow down in revenue and profit due to the disposal of healthcare business.

2. Commodities prices like CPO retreated with global demand reduce and higher productivity in 2H 2011.

Near-term outlook (30-90days)

Consolidation mode after sharp gain last week.

Long-term outlook (6-12months)

Bullish, in long term uptrend, buy on weakness

Trading opportunity

Due to strong gain during the last few trading sessions, stock may falls into consolidation mode, buy on support levels.

Guan Chong - Huge Growth Potential with Production Capacity Expansion Plan in Place for the Next 3 years

Chart: Guanchg daily chart (Source: tradeSignum)

Fundamental Outlook
Guan Chong is currently one of the top 10 Cocoa-derived food ingredient maker in the world. The production plant in Johor has reached the maximum production capacity 80,000 tonnes yearly. It is investing RM80mil to setup a plant in Indonesia with a starting production at around 60,000 tonnes yearly in the 1st quarter 2011, with the potential annual capacity to reach 180,000 tonnes within the next 2 years. For the 9 months ended Sept 2010, the company revenue soared to RM836mil from RM425mil in the same period earlier while net profit jumped 6-fold to RM57mil against RM8mil previously. The company's 1-for-3 bonus issue and 5-year warrants 1-for-4 proposal has been approved during the EGM last week. The bonus issue plan is anticipated to be completed in the 1st quarter 2011.

Technical Outlook
After 2 months consolidation, GuanChg tried to test the previous high RM2.00 last week accompanied by huge volume transacted. However, stock price retreated as volume decreasing with less buying activity support. Price will only able to move up and break the main resistance RM2.00 with more volume support, otherwise it may stay in consolidation mode longer.

Technical Indicators
Volume: stock price needs further buying support to breakthough RM2.00 main resistance.
MACD: Bullish signal after golden cross being constructed last week.
RSI: Bullish signal.

Support level
RM1.80.

Resistance level
RM2.00

Risk
1. High-debt position after aggressive business acquisition and expansion plan implemented. However, it is informed that it is still under managable level as still level of debt ratio is normal in the industry.
2. Global consumer spending uncertainty.
3. Commodities prices like Cocoa increase may dilute profit margin.

Near term outlook
Consolidation mode

Long term outlook Bullish
Long term uptrend, buy on weakness

Trading opportunity
Due to strong gain during the last few trading sessions, stock falls into consolidation mode, it is good bargain hunting opportunity during profit taking.

KLCI Market Review and Outlook Commentary - 19122010

KLCI Daily Chart (Source: TradeSignum)

Fundamental outlook

Refer to KLCI Daily Chart shown above, the KLCI index was moving in a tight range and profit taking activity kicked in as anticipated. The market movement was accompanied with low volume transacted due to the year end holiday mood and most of the fund managers had closed the books to log in the huge profit gained in year 2010. The KLCI has broken the 1st support level 1500 and closed at 1499 level on 17th Dec 2010, while the market volume was hovering between 1.0bil level with less excitement anticipated. The market outlook for the coming weeks will be about the same and should maintain until the last trading day on 31st Dec 2010.

Technical Outlook
As long as the KLCI stays above the long term bullish support line, the uptrend is still intact and the super bull run in year 2011 is highly anticipated.

Technical Indicators
KLCI broke 50MA: Bearish.

KLCI above 100MA & 200MA level: Bullish.
MACD (12,26) dead-cross: Bearish.

RSI stays at 50 level: Neutral.

Support level

1,480, 1460, 1440.

Resistance level

1,500, 1524, 1531.

Near Term Outlook (30-days)
KLCI less excitement with less activity happening due to the holiday season in Dec 2010, most of the fund managers may already closing the account books earlier thanks to the huge capital gain in year 2010 bull run. Bluechips may not fluctuate much from current level, but undervalue mid-cap to small-cap may outperform the index link counters in near term.

Long Term Outlook (6-months)
With the improvement of global economy sentiment especially in US USD858bil tax rebate 2-years extention, Increase of Germany consumer confidence, delay of interest rate increase in China, as well as higher potential growth in emerging markets especially in Asian region. Thus, the equity and commodities markets are anticipated to be outperform the other investment like bond market.

Trading opportunity

Bargain hunting on good fundamental stocks on weakness.

Favourite stocks recommendations

Finance - Maybank, CIMB, RHBCAP, PBB.

Consumer - Asia File, CI Holdings, GuanChg, TWS.

Construction - Kimlun, Sunway, Gamuda, Wct.

Healthcare - KPJ, Faber.

Plantation - BStead, TDM, MHC, Cepat.

Trading/services - Kfima.

Gaming - Genting.

Telecommunication: Axiata.
Environmental: Cypark.
Oil & Gas: Kencana, Pchem.
Industrial: DRBhicom, Daibochi, Scientx.

TWS in Super Bull Run!

TWS Daily Chart (Source: TradeSignum)

TWS Daily movement analysis

As discussed earlier, TWS has broken the main resistance and entered into Super Bull Run! The breakout was mainly due to the strong quarterly result announcement, subsequently entered into strong uptrend with the support of buying interest created among investors. It has increased from RM4.00 to RM6.00 traded as on 17th Dec 2010. With the impressive of 50% gain achieved in 2 weeks time. The question now is does TWS going to hit the ceiling or continue flying sky high? Technically, there are many ways to predict the stock direction ahead. The fairly basic one which I feel is also one of the most effective tool is by using the "Daily Trading Volume Analysis" method.

TWS Daily Trading Volume analysis
Refer to TWS Daily Trading Volume table above, noted that eversince the Bull run triggered in early Dec 2010. The trading volume has shotted up from an average daily trading volume of less than 5,000lots to the highest of 34,000lots achieved on 3rd Dec 2010 (Please find details of trading volume on the Website). It followed by a minor and quick profit taking activity which is also called the filtration process to clean up the weaker/less confidence traders, and the process has to be accompanied with a "reducing daily trading volume" - which can only being rectified as "Healthy Filtration Process". The daily trading volume is slowly reducing from the top of 34,000lots to around 15,000lots, and subsequently reducing to around 5,000lots on 16th Dec 2010. Nevertheless, the very positive sign is the stock price is not only able to holding so well but still able to continue moving up with lower volume supported. It means that this stock is sending a very positive signal to the trader showing that it can easily assorb all the selling pressure with little trading volume transacted. So, since the stock is "telling" the trader clearly that it is stronger than everyone's thought, and is ready to continue flying high!

Conclusion

Due to the impressive financial results achieved and attractive valuation, as well as strong technical indicator supported. It is definitely a STRONG BUY CALL!

2010 Year End Window Dressing Kick Off??

KLCI Daily Chart (Source: TradeSignum)

Commentary

Refer to KLCI Daily Chart shown above, it has successfully builded a base at the low of 1474 level during the profit taking acitivity occured 2 weeks ago. It rebounded and moved all the way up to 1521 level last week, follow by another round of profit taking activity which has pulled the KLCI down to 1508 level. The market volume has soften from the peak of 1.5bil to around 1.0bil level with less excitement anticipated due to the year end holiday mood in Dec 2010.

Technical Indicators

1. KLCI stays above 50MA & 200MA level: Bullish.
2. MACD (12,26) golden-cross: Bullish.
3. RSI stays at 50 level: Neutral.

Support level
1,500.

Resistance level
1,530.

Near Term Outlook (30-days)

KLCI less excited with less activity happening due to the holiday season in Dec 2010, most of the fund managers may decide to close the account book earlier thanks to the huge capital gain in year 2010 bull run. Bluechips may not fluctuate much from current level, but undervalue mid-cap to small-cap may outperform the index link counters in near term.

Long Term Outlook (6-months)

With the improvement of global economy sentiment especially in US & Europe, and huge potential growth in Asian region especially in emerging markets, overall sounds convincing and it is good opportunity for equity and commodities markets in year 2011 ahead. Technically, as long as the KLCI stays above the long term bullish support line, the uptrend still intact and the super bull run in year 2011 is highly anticipated.

Trading opportunity
Bargain hunting on good fundamental stocks on weakness.

Favourite stocks recommendations
Finance - Maybank, CIMB, RHBCAP, PBB.
Consumer - Asia File, CI Holdings, GuanChg, TWS.
Construction - Kimlun, Sunway, Gamuda, Wct.
Healthcare - KPJ, Faber.
Plantation - BStead, TDM, MHC, Cepat.
Trading/services - Kfima.
Gaming - Genting.
Telecommunication: Axiata.

Environmental: Cypark.

Oil & Gas: Kencana, Pchem.

Industrial: DRBhicom, Daibochi.

Pimco Raises US Growth Forecast After Tax Deal

Published: Friday, 10 Dec 2010 3:13 AM ET

Pacific Investment Management Co, manager of the world's largest bond fund, raised its growth forecast for the U.S. economy to between 3 percent and 3.5 percent for 2011 from its earlier estimate of 2 percent to 2.5 percent, Chief Executive Mohamed El-Erian told CNBC late Thursday.

The more positive outlook was influenced by measures put in place to stimulate the economy such as the compromise to extend Bush-era tax cuts for another two years, but further stimulus measures would be needed to keep the growth going, El-Erian said.

"Maintaining such a growth rate beyond 2011 requires additional measures to enhance competitiveness and achieve medium-term fiscal consolidation," he wrote to CNBC.

Pimco sees the economy growing 3 percent to 3.5 percent in the fourth quarter of 2011 from the same period of this year.

"We revised this week our outlook for U.S. growth in 2011 taking into account Monday's announcement on additional fiscal stimulus measures," El-Erian said in an interview with Reuters.

El-Erian also shares the co-chief investment title with Bill Gross, who runs the $256 billion Pimco Total Return Fund.

"It is far from certain at this point that 2011's higher growth projection will translate into a significant improvement in the growth outlook for the period beyond next year," he added.

Obama on Monday unveiled a compromise deal to extend all Bush-era tax cuts for two years, giving ground to emboldened Republicans who won big in last month's congressional elections.

Many economists also raised their U.S. gross domestic product forecasts after the tax deal struck by Obama, which included a surprise reduction in payroll taxes for 2011.

(Source: CNBC.com)

Tax Compromise is Gift to Markets as Traders Await Santa Rally

Published: Monday, 6 Dec 2010 10:12 PM ET

The proposed extension of Bush era tax cuts is another gift to markets and makes a year-end Santa rally even more likely.

President Obama Monday said he would support a tentative compromise to keep in place all Bush tax cuts for two years, as well as extend unemployment benefits for 13 months. The White House also added a reduction in the Social Security tax for workers to 4.2 percent from 6.2 percent for a one-year period.

Traders and analysts, for weeks, have been predicting an extension of all of the tax cuts, including those that keep capital gains and dividend taxes at a maximum 15 percent.

However, if those tax cuts and taxes for the wealthy were not to be extended, as proposed by some Democrats, traders had expected to see stock market selling. They also had been expecting a relief rally once a deal was announced. The deal still needs approval of Congressional Democrats.

James Paulsen, chief investment strategist at Wells Capital Management, said he thinks any relief rally will be limited. "It's all in the market. It was as expected. Anything less would have been bad."

"I think, more than anything, the certainty and tax predictability will help business job creation and the economy," Paulsen said.

U.S. stock futures turned slightly positive Monday evening, after President Obama announced the tax deal at about 6:30 p.m. New York time. The Dow Monday had ended down 19 at 11,362, and the Nasdaq was up 3 at 2594. The S&P 500 fell 1 to 1223.

(Kindly click on the Title to link to CNBC news for more, Source: CNBC)

Obama Unveils Broad Accord To Extend All Bush Tax Cuts

As the road to global economy recovery from one of the greatest financial crisis in 2008 is tough and uneasy, it can be certain that most of the governments are committing to work harder for the best solutions to stimulate and grow the economy, without fail. Should there be any economy growth soften detected, there will be a better solution to encounter the matter. Generally, an "effective Tax Cut" is one of the common methods implemented broadly.

President Obama announced a broad "framework" agreement with Republicans that would extend all Bush-era tax cuts for two years, keep the dividend and capital gains tax at 15 percent and temporarily cut payroll and Social Security taxes.

Democrats, however, are resisting the deal and will meet Tuesday to discuss the plan. Earlier Monday, there were reports that a deal was "all but done."

Some key elements of the Obama/GOP deal include:

• Two-year extension of all Bush tax cuts
• Dividends and payroll tax would remain at 15 percent
• A 13-month extension of unemployment benefits
• A two percentage point cut in the payroll tax for one year.
• A one-year cut in Social Security taxes
• An estate tax at 35 percent with a $5 million exemption, proposed by Republicans.

The overall cost in lost revenue to the government is at least $450 billion in 2011 and could climb as high as $600 billion depending on how much the economy grows over the next two years.

Speaking at the White House, Obama said there were elements of the deal he personally opposed, including an extension of expiring income tax cuts at upper income levels and a more generous deal on estates.

But he said he decided that an agreement with Republicans was more important that a stalemate that would have resulted in higher income taxes at all income levels on Jan. 1.

"Make no mistake, allowing taxes to go up on all Americans would have raised taxes by $3,000 for a typical American family and that could cost our economy well over a million jobs," he said.

(Kindly click on the Title to link to CNBC news for more, Source: CNBC)

Goldman Sachs 2011 Forecast: Stocks, Gold, Oil Higher

Published: Monday, 6 Dec 2010 11:33 AM ET Text Size By: Bertha Coombs

Goldman Sachs is bullish on the U.S. economy for 2011, and forecasts U.S. stocks will see their third straight year of gains.

The investment banking powerhouse sees the S&P 500 [.SPX 1223.12 -1.59 (-0.13%) ] gaining nearly 25 percent to a level of 1450 in the next 12 months, fueled by strong corporate profits, easy monetary policies and an improving U.S. economy.

Goldman [GS 162.65 0.34 (+0.21%) ] sees stocks gaining as the U.S. economic growth accelerating from 2.5 to 4 percent by the end of 2012, but says investors will continue to have doubt. (Watch comments by Goldman's Chief U.S. Investment Strategist David Kostin in the video clip later in this story.)

“Despite these many positives, the equity investing landscape is hard to decipher,” Goldman’s U.S. investment strategy team writes in its 2011 U.S. equity forecast, which is headlined “Easy Money, Hard Market.”

Investors remain understandably skeptical about positive economic data, Goldman says, because the improvement is coming from a fairly low base. But the strategists argue with strong corporate balance sheets, low inflation and interest rates that “the path of earnings growth has rarely been smoother.”

Goldman is recommending its clients increase their investments in cyclical sectors. It continues to overweight technology, and has raised its outlook on energy and financials to overweight from neutral.

Goldman also recommends investors underweight defensive sectors like health care, consumer staples and utilities.

Long U.S. Bank Stocks

Goldman’s global investment team rates U.S. Large Cap Commercial Banks among its "Top Trades for 2011." The firm expects financial sector earnings to grow 24 percnet, with the economic recovery leading to improving loan demands and credit trends for the big banks. It also believes the large cap banks will get back to paying dividends in 2011.

The firm recommends clients gain exposure to the sector through the KBW Bank Index [BKX 47.85 -0.18 (-0.37%) ] or SPDR ETF based on the index [KBE 23.78 -0.11 (-0.46%) ].

Commodities: Gold, Oil Higher in 2011

Goldman believes low U.S. interest rates will continue to underpin the rally in commodities like gold. The firm expects the precious metal futures to climb to $1,690 an ounce by the end of 2011 and continue to move higher.

But the firm believes prices will likely peak at $1,750 an ounce in 2012, as the U.S. recovery will see interest rates move higher.

Goldman’s commodities strategists also see oil futures rising to $105 dollars a barrel in 2011, and demand improving along with the U.S. economy. The firm notes, “Energy is historically the best performing sector when the ISM is above 50, which seems increasingly likely given strong October ISM and our US economists upgrade to their 2011 growth outlook.”

Currencies: Top Trade, Bad Call

Among the risks Goldman sees for 2011 is moderating growth in China, as Beijing tries to reign in inflation.

While its economic teams saw the improvement in U.S. growth lagging emerging markets in 2010, Goldman strategists believe the trend has reversed over the last six months, “with our US economics team now more constructive on domestic growth, but our China economists expecting monetary tightening through increases in interest rates and reserve requirements over the next three to six months.”

One of the firm’s top trades for 2011 involves shorting the U.S. dollar/Chinese yuan exchange. The firm argues low rates in the U.S. will keep the dollar lower, while China will have to let its currency rise next year, as it undertakes policies to control growth. “Rising external political pressure on the CNY from the US and other countries, as well as the threat of escalating trade tensions, expose China’s dependence on exports. More gradual CNY appreciation would help alleviate these tensions.”

While most of Goldman’s 2010 predictions on the U.S. stock market, commodities prices and economic growth have generally proven right on the money, its crystal ball was much more cloudy when it came to some key currency calls.

One of Goldman’s top trades for 2010 proved a big loser. The firm’s currency strategists recommended shorting the New Zealand dollar and going long the British pound, saying at the time, “We are more bullish on Sterling, linked to a stronger cyclical momentum in response to a large easing in financial conditions.”

But the Kiwi has been strong performer this year on the strength of the country’s rising commodity prices. The analyst who made that call reportedly apologized to clients in a recent note, saying it may have results in losses of more 12 percent.

(Source: CNBC)

Bernanke Says Fed May Take More Action to Curb Joblessness

By Joshua Zumbrun - Dec 6, 2010 10:12 AM GMT+0800

Federal Reserve Chairman Ben S. Bernanke said U.S. unemployment may take five years to fall to a normal level and that Fed purchases of Treasury securities beyond the $600 billion announced last month are possible.

“At the rate we’re going, it could be four, five years before we are back to a more normal unemployment rate” of about 5 percent to 6 percent, Bernanke said according to a transcript of an interview airing today on CBS Corp.’s “60 Minutes” program. The purchase of more bonds than planned is “certainly possible,” said Bernanke, 56. “It depends on the efficacy of the program” and the outlook for inflation and the economy.

Bernanke and other Fed officials have defended the central bank’s announcement that it will purchase $75 billion in Treasury securities a month through June to prop up a recovery so weak that only 39,000 jobs were created in November. The unemployment rate last month rose to 9.8 percent, the highest level since April, the Labor Department said on Dec. 3, three days after the Bernanke interview.

The economy, which grew 2.5 percent in the third quarter, is so weak that Bernanke said growth could fizzle out without support. “It’s very close to the border,” he said. “It takes about 2.5 percent growth just to keep unemployment stable and that’s about what we’re getting. We’re not very far from the level where the economy is not self-sustaining.”

(Source: Bloomberg)

TWS vs HapSeng Super Bull Run - Similarities

HapSeng Daily chart (Source: TradeSignum)

TWS Daily chart (Source: TradeSignum)

Similarities in Technical Perspective:

1. Both stocks have gone through long consolidation before a strong break up.
2. The strong break up was accompanied by high volume.
3. Staying above 50 & 200MA daily moving average lines.
4. In super bull trend.

Similarities in Fundamental Perspective:

1. Steady and strong growth in recent financial results such as revenue, profit before tax, and net profit income.
2. More than 20% or double digit growth in EPS (q-to-q).
3. More than 20% or double digit growth in ROE (y-to-y).
4. Steady Dividend payout ratio.

Conclusion:
Due to the impressive financial results achieved by these 2 companies, they are definitely in a very undemanding valuation, the hardly find hidden jewels in the stock market at the current market situation.

Strategy:
Strong buy.

Prudent monetary policy by China

BEIJING: China will switch to a prudent monetary policy from a moderately loose stance, the Communist Party's top leaders decided yesterday, a change that could pave the way for more interest rate increases and lending controls.

At the same time, the Politburo elected to maintain China's proactive fiscal policy, an indication that the government wants to continue to ramp up investment spending even while taking tightening steps to control inflation.

Chinese and global markets were little affected, with investors taking the view that the new wording was an affirmation of the gradual tightening that Beijing has already started to implement in recent months.

But while the change in description of policy had been discussed for several weeks by central bank advisers, the Politburo's endorsement, reported by the official Xinhua news agency, could still mark a decisive turning point.

It means that all sort of monetary policy tools to control liquidity and to control inflation can now be used, said Ken Peng, an economist with Citigroup in Beijing.

In the past, we've been clearly focusing on administrative measures. Going forward, we could be using more price adjustments via interest rates, he said, adding that he expected five rate increases by the end of next year.

China has raised interest rates just once this year as it has guided its monetary policy back to normal from the ultra-loose settings it adopted to counter the global financial crisis. Instead, it has used quantitative tools to do the heavy work, officially raising banks' reserve requirements five times.

Along with playing a role in the fight against inflation, policy tightening also signals confidence that the world's second-largest economy is on solid ground, even as the United States and European recoveries remain fragile. - Reuters

(Source: www.thestar.com.my)

Fed's Bailout Report Shows Financial Crisis Is Over: Bove

Published: Thursday, 2 Dec 2010 12:02 PM ET
By: Jeff CoxCNBC.com Staff Writer

The Federal Reserve's report this week on its $3.3 trillion bailout of the global banking system shows that the financial crisis is finally over, banking analyst Dick Bove said.

While the information on who borrowed from the US central bank contained surprises—such as the extent to which European banks had access to the money and that Goldman Sachs was "significantly weaker than anyone knew"—the overview is that the bailout helped save the system, said Bove, of Rochdale Securities.

"The biggest point that one should derive from this information, because what has been revealed now is ancient history, is that the only entity that needs this money any longer is the United States government," he said in a research note to clients entitled "Financial Crisis Is Over."

The various entities involved with the bailouts, including the Fed, the Treasury and the Federal Deposit Insurance Corp, have been alternately praised and criticized for the trillions in aid they provided to companies as diverse as investment banker Morgan Stanley and motorcycle giant Harley-Davidson.

At issue in most of the arguments was the urgency to provide the funds.
Companies around the world came under duress as the real estate market collapsed, taking with it the trillions in securities used to underwrite the housing boom and particularly subprime mortgages provided to less-than-qualified buyers.

"After some experimentation, the moves taken by these agencies were extraordinarily successful," Bove wrote. "They stopped a run on American (and European) banking companies and earned what may be $60 billion in profits for the combined entities—a taxpayer windfall of unusually large dimensions."

Bove has been critical of some policy areas since the financial crisis hit—in particular he said the Dodd-Frank financial reform bill would hammer the industry, and he recently signed a petition from leaders in the financial community asking the Fed to back off its new round of $600 billion in Treasury purchases under its quantitative easing program.

But he also has called the Troubled Asset Relief Program the "most successful US program ever," a stance he reiterated in citing the successes of the plethora of alphabet-soup programs used to support companies during the bailout.

"The private sector programs have been wound down or eliminated," he said. "The Federal Reserve is back to its old game of funding U.S. Treasury debt. The private sector may now be certified as 'healthy.'"

(Source: CNBC)

TWS broke new high after impressive financial report

Chart: TWS daily chart (Source: tradeSignum)

Technical Commentary

Refer to TWS daily chart shown above, it continue the bullish uptrend after breaking the main resistance at RM4.00 in the last trading sessions. During several months of consolidation before the break out, it had several attempts to break the main resistance line. Eventually, with the successful breakout, a strong bullish uptrend can be anticipated in near future and the outlook is fairly positive.

Fundamental Commentary

TWS has announced an impressive quarterly financial result yesterday, with the big jump in the revenue, net profit income and earning per share. The company is definitely in a strong growth position, this is partly due to the impressive profit made by the subsidiary companies BERNAS and TWSPLNT.

Risk

The only concern is the company may face trouble in paying back the high short term debt and long term liabilities which it had spent to acquire BERNAS and other business expansion program in the last quarters. It has the plan to reduce the share holding in BERNAS and may sell certain amount of BERNAS shares in near future to bring down the debt level.

Near term outlook
Profit taking activity may arise

Long term outlook
Bullish - Long term uptrend, buy on weakness

Trading opportunity
Due to strong gain during the last few trading sessions, profit taking activity may kick in, it is good bargain hunting opportunity during profit taking.

明年上半年或有漲潮12月宜進場部署

(吉隆坡1日訊）隨著11月份套利風襲捲馬股后，僑豐投資研究呼籲投資者在12月份進場部署，趕上明年首半年可能出現的漲潮。

據僑豐投資研究報告指出並發現，自1996年起，12月份的確在大部分時候都有很好的表現，絕大多時候都能取得高達86%回酬，僅2000及2004年12月份表現疲弱。

本月份該機構表示會較傾向于大型股項如銀行、電訊、房地產及油氣領域相關股項。

為12月交易掀開序幕的第一天，富馬隆綜指今早開低2.4點報1482.81點。

爾后外圍不利因素持續掀起套利風，投資者多選擇退場觀望，跌幅一度擴張至6.9點，惟臨尾回揚，閉市掛1485.42點，起0.19點，成交量8億8624萬5500股。

(Source: Chinapress)