Tuesday, June 12, 2007

Hubba Hubba

Most Asian markets rose Tuesday as Hong Kong shares edged up, but Japanese stocks slipped on profit-taking in nonlife insurance and shipping sectors following their recent gains. Investors seemed reluctant to take positions ahead of U.S. consumer and producer price data due later this week. Any results showing a risk of inflation would be negative for U.S. stocks because they could raise concern the U.S. Federal Reserve may raise interest rates, which could drag on Japanese shares. But if the U.S. price data shows inflation is contained, the (Dow Jones industrial average) may recover even more than its recent losses.

Malaysia shares likely to continue consolidating within 1353-1370 range tomorrow after inching up 0.2% to 1360.58 in moderate volume. Market breadth stayed negative; decliners led gainers 471 to 424 as profit-taking into strength dragged stocks off highs. A handful of heavyweights and some oil and gas stocks helped to lift the KLCI but sentiment remains cautious. Oil & gas stocks, construction and property plays likely to extend gains tomorrow but upside may be capped by profit-taking.



  • Proton, VW To Hold 2nd Round Of Talks - Bernama
  • Kian Joo, Box-Pak Queried For Sharp Price Jump
  • Kenanga Keeps KEuro As Sell, 63 Sen Target
  • Swee Joo A Strong Buy Based On Charts -MIMB
  • AmResearch Keeps Buy On Selangor Ppties
  • TA Says Sell Eden On A Rally Based On Charts
  • S&P Keeps PECD As Strong Sell, 24 Sen Target
  • Goldman Sachs Cuts IOI, GHope, Sime Darby Ratings
  • CIMB Keeps Media Prima At Outperform,MYR3.50 Tgt
  • Tanah Emas; OSK Pegs Fair Value At MYR1.20
  • CIMB Ups AMMB To Outperform, Target To MYR5.35

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