Tuesday 10 February 2009.

DAILY MARKET REPORT.

Monday Markets Closing Prices.

KLCI 896.64 closed for holiday.
DJIA 8,270.07 down 9.72 or 0.12%.
Crude Oill US$39.76.
April FCPO RM1,880.
Ringgit 3.5990.

LOCAL NEWS.

Perak new Exco lineup to be sworn in today.

Two new by election as PAS Bukit Gantang MP Roslan Shaharum dies and PKR's Arumugam resigns from Selambau state seat in Kedah.

ECONOMY AND CORPORATE NEWS.

Dec. 2008 exports and Industrial Production Index figures due out this week likely to fall sharply.

Urgent need to reform financial system says Hong Kong Monetary Authority Chief in KL recently.

New Central Bank Act in the offing says Zeti of BNM.

Malaysia and China establish RM40 billion or 80 billion Yuan currency swap to promote trade and investment.

Electricity tariff reduction effective March 1, 2009 says Minister.

Bank Negara forex reserves as at 30 January 2009 down by US$200 million ton US$91.3 billion.


WORLD NEWS.

U.S. unemployment hits 7.6%, worse level since 1974.

Analysis - During the Great Depression from 1929 to 1933, the unemployment level hits 25%, economic contraction by 31.5% and stock market declined by 84.5% as a results of banking, housing and automobile industry meltdown, exactly as what happened now.

China wants IMF to be tougher with rich states.

Japan sees record fall in current account surplus.

French to lend 6 billion euro to bail out auto industry.

Taiwan suffers record 44% plunge in January exports.

Nissan sees big loss and to cut 20,000 jobs worldwide.

Senate clears way for final vote on USD 827 billion economic stimulus plan.

U.S. banks bailout plan to be announced today.

General Motors and Chrysler may be placed in bankruptcy to protect U.S. government loans.


STOCK MARKET OUTLOOK AND STRATEGY.

SELL and TAKE PROFIT on market rally.

Resistance Level - 900, 920, 936.

Support level - 880 to 860, 850, 801.


By:-
KAMEL BIN MOHD YUSOH.
KENANGA INVESTMENT BANK BHD.
013-6306544 OR 03-21634549/50.