Monday March 2, 2009.

DAILY MARKET REPORT.

Friday Markets Closing Prices.


KLCI 890.67 down 2.75.
DJIA 7,062.93 down 119.15 or 1.66%.
Crude Oil US$44.15.
May FCPO RM1,895.
Ringgit 3.7050.


LOCAL NEWS.

PM Abdullah Badawi reiterated he will hand over the Premiership to DPM Najib Razak after UMNO election by the end of March.

Malaysia GDP for 4Q 2008 grew by 0.007% and for FY 2008 grew by 4.66% to RM528 billion. Nominal GDP grew by 0.04% in the 4Q 2008 due to the collapsed of external demand as the world economy sink into deeper recession.

Analysis - For FY 2009, Malaysia need a miracles to avoid a recession as the global depression is underway with no end in sight at least for the next few years and accept the facts of the severity of the problems in hand and not be in denial. For a start, the government can lessen the burden of the rakyat by introducing the right stimulus package in the upcoming "mini budget".


WORLD NEWS.

ASEAN leaders vow to maintain free trade.

Asia's export reliant economies feel pain of slowdown - AFP.

U.S. revised downward the 4Q 2008 GDP contraction from -3.8% to -6.2%.


CORPORATE RESULTS.

Maybank Bhd, RM5.10, 4Q FY 31.12.2008.



PPB Group Bhd, RM9.70, 4Q FY 31.12.2008.



STOCK MARKET OUTLOOK.

SELL and TAKE PROFIT. Only a matter of time before the CI break the 801 level again.