Monday July 6, 2009.

WEEKLY MARKET REPORT.

Friday Markets Closing Prices.


KLCI 1072.69 down 6.02 or 0.56%.
August FCPO RM2,190.
Ringgit 3.5240.
DJIA 8,250.74. Closed for 4th of July holiday.
Crude Oil US$65.63.


NEWS.

PM Najib set to announce details on the huge investments from China soon.

Malaysia May 2009 exports down 29.7% on-year to RM42.95 billion on lower shipments of tech products and commodities. On month, May exports up 4.5% on higher exports of tech products but imports down 2.3% due to decline in intermediate and capital goods.

May imports down 27.8% on year to RM32.93 billion. May trade surplus at RM10.02 billion.

ANALYSIS - Exports down mostly on lower value of oil and commodities but month on month rebound is quite encouraging as the tech exporters said that their exports rebounded in the second quarter of 2009. Exports set to recover next year from a lower base and improve demand as the global economy slowly recover.


MARKET OUTLOOK.

Opportunities to BUY and ACCUMULATE the new FTSE Bursa Malaysia KLCI 30 Stocks Index.


TECHNICAL OUTLOOK.

Resistance at 1100.

Support at 1050, 1028, 1000.

Target for 2009 1200.