Monday April 6, 2009.

DAILY MARKET REPORT.

Friday Market Closing Prices.


KLCI 907.01 up 1.94.
DJIA 8,017.59 up 39.51 or 0.50%.
Crude Oil US$52.47.
June FCPO RM2,165.
Ringgit 3.5750.


LOCAL NEWS.

Malaysia exports in Feb. 2009 up 3.4% to RM39.59 billion from Jan. 2009 due to higher exports of E&E, refined petroleum products etc and imports declined 8.4% to RM27.62 billion from Jan. 2009.

Feb. 2009 exports declined by smaller than expected 15.9% year on year while imports declined by 27.3% year on year. February 2009 total trade valued at RM67.2 billion down 21% from a year ago. Feb. 09 trade surplus at RM11.97 billion.

Jan to Feb 09 total trade at RM135.64 billion down 25.2% year on year, export down 22.2% to RM77.86 billion while imports down 28.9% to RM57.78 billion.

Analysis - Has Malaysia exports bottoming out as suggested by the February trade numbers ? On closer examination China stimulus plan has pick up the slack from dwindling demand from the rest of the trade partners. Malaysia exports to China and Japan had even manage to register a trade surplus for the first time in a very long time. February trade figures definitely a very encouraging numbers but trade numbers in the coming months will tell the true story.


WORLD NEWS.

The US economy lost 663,000 jobs in March 2009 bringing losses since the slump began to 5.1 million and unemployment rate up 8.5% from 8.1%. If GM forced into bankruptcy, 1 million additional auto industry jobs may be lost and unemployment would climb to 11.%. The ISM non manufacturing index unexpectedly dropped.

Fed Vice Chairman said economy and financial markets aren't out of the woods yet.

The key to keeping the rally in US stocks going as earnings season begins will be signs that corporate outlooks are improving.


STOCK MARKET OUTLOOK.

BN win in the 3 by-election and a credible new cabinet lineup will be the catalysts for a sustainable rally in the Malaysian stockmarket as the wins prove the 'rakyat' acceptance of the new administration.

KLCI support level - 860, 880, 890.

KLCI resistance level - 910, 920, 936, 940 and 950.


For further inquiries please call :-

Kamel Bin Mohd Yusoh.
Institutional Dealer.
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.
April 6, 2009.