Wednesday 4 March 2009.

DAILY MARKET REPORT.

Tuesday Markets Closing Prices.


KLCI 868.74 down 7.82 or 0.89%.
DJIA 6726.02 down 37.27 or 0.55%.
Crude Oil US$41.65.
April FCPO RM1,900.
Ringgit 3.7070.


LOCAL NEWS>

Professor Ariff of MIER said Malaysia may face full blown recession this year.

Bina Puri Bhd, RM0.90, current book order has increased to RM2.7 billion after winning RM693 million contract to build 2,000 houses in Brunei.


WORLD NEWS.

U.S. stocks retreat following Bernanke's warning that the banking system hasn't stabilized yet.

Fed Chairman also said AIG Group CDS contracts were not hedged (naked contracts) and the bailout were necessary to save the entire financial system from systemic failure.

The prevailing mood in the U.S. now is that the governmenr doesn't have enough bullets.

Japan to tap their huge forex reserves to help stabilize the markets.


By:-
Kamel Bin Mohd Yusoh.
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.
March 4, 2009.