Friday, 30 January 2009.

DAILY MARKET REPORT.

Thursday Markets Closing Prices.

KLCI 883.16 up 3.53.
DJIA 8.149.01 down 226.44 or 2.70%.
Crude Oil US$41.59.
April FCPO RM1,748.
Ringgit 3.6120.

NEWS.

M'sia to unveil second stimulus plan anytime now and revise upward the budget deficit accordingly.

3 more banks to cut BLR soon.


WORLD NEWS.

US jobless claims jump to records, durable orders slide.

US Congress passed the US$819 billion stimulus plan.

US Treasury Secretary Geithner got the rapped for suggesting China manipulate the Yuan.

Comment - As I said before, the world economy cannot recover unless both countries, the US and China and the rest of the world too stop manipulating and artificially keeping their currency at current level. US should let their Dollar to go down against world major currencies so they can export their way out of economic trouble while the rest of the world i.e China need to stimulate their domestic economy. The rest of the world can recover when the US economy recover and have a better standard of living now when the commodities price recover with lower US dollar. It is a win win situation for every body and the whole world.

By:-

Kamel bin Mohd Yusoh.
Kenanga Investment Bank Bhd.
013-6396544 or 03-21634549/50.