Monday March 16, 2009.

DAILY MARKET REPORT.

Friday Markets Closing Prices.


KLCI 843.45 up 5.06.
DJIA 7,223.98 up 53.92 or 0.75%.
Crude Oil US$46.25.
May FCPO RM1,972.
Ringgit 3.7040.


NEWS.

LTAT paid 16 percent dividend to 115,000 active contributors for FYE 2008.

Fitch affirms rating on Maybank Bhd, RM4.00 SELL, at A minus based on capital replenishment through RM6 billion rights isue.

Malaysia Airports Bhd, RM2.58 SELL, to build new RM2 billion LCCT near KLIA by the middle of 2009 and expected to be completed by the middle of 2011.


WORLD NEWS.

OPEC to cut keep output steady to help sick economy.

China stocks markets look increasingly expansive based on valuation.

UBS cutting 5000 management jobs.

U.S. Treasury to offer details on toxic assets this week.

Accounting change won't save banking,

U.S. Fed Chairman sees U.S. recovery beginnings in 2010 but the economy won't return to full employment.

Analysis - The forecast is still way too optimistic based on all the available economic numbers and based on the current conditions of the U.S. real economy, banking system and financial markets.


STOCK MARKET OUTLOOK.

SELL on market rally.

Support level at 801, 770 to 750.

Resistance level at 850 to 860.

BUY ON WEAKNESS below 800 level for a technical rebound play.


By and for any inquiries please call:-

Kamel Bin Mohd Yusoh.
Institutional Dealer.
Kenanga Investment Bank Bhd,
013-6306544 or 03-21634549/50.
March 16, 2009.