Thursday 28 June 2012

FELDA GLOBAL soars on debut


KUALA LUMPUR, June 28 (Reuters) - Shares in Malaysian palm oil firm Felda Global surged 20 percent in their trading debut on Thursday, as investors cheered on the world's second largest IPO after Facebook's
offering.

Here's more articles on the FGVH IPO ;

http://www.channelnewsasia.com/stories/corporatenews/view/1210497/1/.html

FELDA GLOBAL VENTURES IPO. What's that about ?

For those of you who have no idea what it is, get acquainted with it. Here's an article you might want to read ; http://economictimes.indiatimes.com/opinion/columnists/nidhi-nath-srinivas/felda-global-ventures-a-palm-oil-company-floats-worlds-second-largest-ipo-in-2012-will-it-be-a-success/articleshow/14447596.cms

Tuesday 26 June 2012

FKLI
NEW YORK, June 26 (Reuters) - Major U.S. stock indexes bounced back on Tuesday, but trading was light with the outlook clouded by doubts before yet another summit to tackle the European debt crisis.
U.S. stocks partly recovered from losses of more than 1 percent on Monday, led by housing shares after stronger-than-expected data on home prices.
The consumer discretionary sector was the top gainer on the S&P 500, followed by energy shares, which were boosted by a 2.3 percent jump in Brent crude prices.
Traders remained cautious as Spanish short-term borrowing costs nearly tripled and U.S. consumer confidence fell in June to its lowest level in five months.
Malaysian shares may recover from Tuesday’s losses following Wall Street’s slight gain due to encouraging U.S. housing data. Analysts say the benchmark KLCI will attempt to cross the 1600 psychological   level again and tips a 1590 – 1610 range.

Thursday 21 June 2012


FKLI

NEW YORK, June 21 (Reuters) - U.S. stocks  posted  the  worst day  in  three  weeks  on   Thursday   on   mounting   evidence  that slowing  manufacturing  growth  worldwide  threatened  corporate profits. Shares   of   energy   and   materials   companies   led   declines   as commodity  prices  fell. The  Dow  Jones  industrial  average  was  down  251.35  points,  the  worst  decline  since  June 1. Stocks' slide was accelerated by Goldman Sachs research call suggesting shorting the S&P 500.


FKLI  opened down at 1599 compared to yesterday's close at 1606.5, reached a low of 1596 and as at 11.30 am, market has since recovered to 1605.


FCPO
Support is still strong due to Ramadhan demand and dry weather affecting soy crop. A shipping executive in Kuala Lumpur tipped palm  oil  shipments  to  reach  1.46  million - 1.50 million tons in June, on higher sales to China, India and Pakistan. However, concern over the US and Euro economy continue to halt recovery. Investors’ mood was further soured after a preliminary gauge of China’s manufacturing activity weakened in June, market participants said.


FCPO September opened down at 2964 compared to yesterday's close at 3000, reached a low of 2946 and as at 12.15 pm has recovered to 2960. Technically, todays trade may be range bound with immediate resistance at 3062 and support around 2940. For a strong recovery, the market will need to break the immediate resistance level. Otherwise, macroeconomic factors will drive the market further down.


Friday 15 June 2012

NEW YORK (Reuters) - Stocks jumped on Thursday after news major central banks are preparing coordinated action if the results of Greek elections this weekend lead to turmoil in financial markets. The central banks from major economies will take steps to stabilize markets and prevent a credit squeeze if necessary, Group of 20 officials told Reuters.
FKLI overall outlook : Upside bias, but gains will likely be limited as investors remain cautious ahead of weekend Greek election. The KLCI is likely to head towards 1575 with strong resistance at the week's high of 1582.29, though analysts say investors should be cautious of volatility due to the expected low trading volume in the market.

SINGAPORE, June 14 (Reuters) - Malaysian palm oil futures slumped to their lowest in 2012 on Thursday as the euro zone debt crisis and sluggish U.S. growth triggered a flight of capital from riskier assets.
FCPO overall outlook : Downside bias, although fundamentals remain quite encouraging due to higher demand and lower stocks. Malaysia's palm oil exports in the first 15 days of June rose 20% from a month earlier to 716,322 metric tons, cargo surveyor Intertek AgriServices said Friday. This is due to increased buying ahead of the Muslim fasting month, which could limit price decline. Strong demand vs cautious investors may lead to CPO trading in a narrow range between MYR2,830-MYR2,885/ton. However, since the global economy outlook is still dominating at the moment, there is a possibility that  CPO could dip further to MYR2,700/ton as people could set up more shorts ahead of th (Greek) election.

Wednesday 13 June 2012

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Monday 11 June 2012

FKLI and FCPO rose on Monday after euro zone finance ministers agreed on a rescue package for Spain's struggling banks.

FKLI opened at 1584 and peaked at 1591.5 but has since been ranging between 1579 and 1583.

Malaysian palm oil exports for the first 10 days of June fell 6.6 percent, going against traders' expectation of a stronger demand ahead of the Muslim fasting month starting in mid-July. Industry insiders are surprised but are still confident of real demand coming in the later part in June.

On the technicals front, palm oil faces resistance at RM3,038 per tonne, said Reuters market analyst Wang Tao.

Friday 8 June 2012

European stock futures and Asian shares fell, the euro weakened and oil headed for the longest weekly losing streak in 13 years after Federal Reserve Chairman Ben S. Bernanke damped expectations for monetary stimulus and German exports dropped. (Bloomberg)