Thursday 2 April 2009.

DAILY MARKET REPORT.

Wednesday Markets Closing Prices.


KLCI 884.18 up 11.63.
DJIA 7,761.60 or 2.01%.
Crude Oil US$48.49.
June FCPO RM2,070.
Ringgit 3.6450.


NEWS.

YAB Dato Seri Najib Razak to be sworn in on Friday.

TMI Bhd, RM2.39, has repaid TM Bhd, RM3.54, RM2.0 billion of RM4.0 billion owed ahead of schedule and will repay the remaining balance by end April.

RM700 million capex Celcom to upgrade infrastructure of which RM300 million for upgrading its wireless broadband infrastructure.

Stock Recommendation - BUY ON WEAKNESS for both TMI and TM Bhd on attractive price for entry level and attractive dividend yield too.

Hamidy Hafidz tipped to chair revived CDRC that is in the process of being revived.

Both loan applications and approval amount for February increased month on month by 4.8% to RM33.1 billion and 7.8% to RM18 billion, reversing their downward trend since September last year.

Stock Recommendation - SELL and TAKE PROFIT on banking sector as the economy slowdown will definitely hit their bottomline and non performing loans will rise further as evidence by the revival of CDRC.


WORLD NEWS.

Japan Tankan signals more job losses, prolonging recession.

The latest US car sales down 37%.

US pending home resales up 2.1% in February from January record low.

US ISM manufaturing index contracts for 14 straight month in March.

Professor Taleb author of 'Black Swan' says Geithner bank plan will fail and calls for 'something drastic'.


For further inquiries please call:-
Kamel Bin Mohd Yusoh.
Institutional Dealer.
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.
April 2, 2009.