Here Tokan Corner Want To Wish To All Muslim and All Traders " Selamat Hari Raya Aidil Fitri"
" Maaf Zahir Batin"
After showing a lack of direction throughout much of the session, stocks moved sharply higher in the latter part of the trading day on Wednesday. The markets extended the strong upward move seen in the previous session, regaining some ground following the substantial weakness seen in recent weeks.
The major averages all closed firmly in positive territory, near their best levels of the day. The Dow jumped 143.95 points or 1.3 percent to 11,320.71, the Nasdaq rose 21.63 points or 0.9 percent to 2,467.69 and the S&P 500 shot up 15.25 points or 1.3 percent to 1,177.60.
The strength in the markets may have been partly due to some upbeat economic data, with a report from the Commerce Department showing a much bigger than expected increase in durable goods orders in the month of July.
The report showed that durable goods orders came in at $201.5 billion, an increase of $7.7 billion or 4 percent from the previous month. Most economists had predicted a more modest 2 percent increase.
Additionally, June orders were revised upward to show a less steep, 1.3 percent decline compared to the 2.1 percent drop initially reported.
Paul Dales, Senior U.S. Economist at Capital Economics, said, "July's U.S. durables goods orders are certainly not as good as they look. Nonetheless, they still suggest that business investment growth may actually accelerate in the third quarter."
However, traders continued to express uncertainty about the next move by the Federal Reserve, looking ahead to Fed Chairman Ben Bernanke's speech at a conference in Jackson Hole, Wyoming, on Friday.
While Bernanke is not expected to announce any specific plans for the Fed, traders will be paying close attention to his remarks for any indications regarding the likelihood of further economic stimulus efforts from the central bank.
Meanwhile, traders largely shrugged off news that Moody's lowered its rating on Japanese government debt. Moody's cut the rating to Aa3 from Aa2, citing "weak" economic prospects that could hamper the government's ability to meet deficit reduction targets.
Sector News
Banking stocks saw considerable strength on the day, helping to lead the markets higher. The KBW Bank Index surged up by 3.3 percent, climbing further off the two-year closing low it set on Monday.
Bank of America (BAC) turned in one of the sector's best performances, jumping by 11 percent after ending the previous session at its worst closing level in well over two years.
Significant strength also emerged among housing stocks, as reflected by the 3.7 percent gain posted by the Philadelphia Housing Sector Index. Within the sector, Toll Brothers (TOL) rose by 4.6 percent after reporting better than expected third quarter earnings.
Defense and utilities stocks also showed strong upward moves, driving the Philadelphia Defense Sector Index and the Dow Jones Utilities Average up by 2.1 percent and 1.9 percent, respectively.
While most of the other major sectors also moved to the upside, gold stocks posted steep losses amid a sharp pullback by the price of the precious metal. The NYSE Arca Gold Bugs Index fell by 2.2 percent, as gold for December delivery plummeted $104 to $1,757.30 an ounce.
Other Markets
In overseas trading, stock markets came under pressure on Wednesday amid the news of the downgrade of Japan's credit rating. Japan's benchmark Nikkei 225 Index fell by 1.1 percent, while Hong Kong's Hang Seng Index dropped by 2.1 percent.
Meanwhile, the major European markets showed notable moves to the upside on the day. The U.K.'s FTSE 100 Index rose by 1.5 percent, the French CAC 40 Index advanced by 1.8 percent, and the German DAX Index surged up by 2.7 percent.
In the bond market, treasuries saw considerable weakness, pulling back further off their recent highs. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 12.3 basis points to 2.26 percent.
Looking Ahead
While the Labor Department's weekly jobless claims report may attract some attention on Thursday, trading activity may be somewhat subdued ahead of Bernanke's speech on Friday.
Get Ready To Start Engine Guys :)
Get Ready To Fly To The Moon ^_^
Emas jatuh lebih daripada 5%, jatuh di bawah $ 1,700
SAN FRANCISCO-Gold niaga hadapan turun lebih daripada 5% Rabu, perdagangan di bawah $ 1.700 auns dan melanjutkan kerugian untuk hari kedua sebagai pembetulan yang bermula selepas lima rekod dalam enam sesi tiba-tiba mendapat lebih curam.
Emas untuk penghantaran Disember GC1Z -5,45% susut $ 80,20, atau 4.3%, $ 1,781.10 auns pada divisi Comex New York Mercantile Exchange.
Kontrak jatuh $ 30,60 hari Selasa hingga akhir dari $ 1,861.30 auns. Gold terakhir mencecah rekod penyelesaian pada hari Isnin, apabila ia selesai dari $ 1,891.90 auns.
Pelabur ditempah keuntungan mereka selepas gagal untuk menakluk $ 1.900 auns, kata penganalisis. Baca blog post kira-kira 10 emas hari terburuk.
"Orang yang membuat banyak wang dengan cepat meninggalkan perdagangan untuk kembali pada titik yang lebih rendah," kata Matt Zeman, kepala peniaga dan strategis di Kingsview Kewangan di Chicago.
Pelabur memihak pelaburan dianggap lebih berisiko, dengan ekuiti yang lebih tinggi dan dolar yang lebih rendah menggoyahkan kepentingan emas, katanya.
Pasaran juga sibuk dengan bercakap tentang keperluan margin yang mungkin meningkat di Amerika Syarikat selepas Shanghai Gold Exchange menaikkan margin Selasa.
Pelabur bimbang CME Group Inc, ibu bapa Comex syarikat, boleh menyusul. CME menaikkan keperluan margin emas dua minggu lalu bertindak balas kepada turun naik meningkat di tengah-tengah kenaikan mendadak untuk diniagakan dalam beberapa minggu kebelakangan ini.
Emas telah mendapat kira-kira 25% daripada paras terendah dalam awal bulan Julai, dengan kebanyakan penganalisis meramalkan $ 2,000 auns dalam masa beberapa minggu dan bank-bank besar seperti Citigroup dan UBS untuk meningkatkan ramalan harga mereka.
"Langkah-langkah kecil dalam penghindaran risiko global dan seminggu yang lebih atau kurang tenang berikutan turun naik baru-baru ini (dengan beberapa peristiwa makro penting yang dijangka sehingga Jumaat) akhirnya mencetuskan beberapa menyegiempatkan buku sebagai pelabur bergegas untuk menetapkan keuntungan," kata penganalisis di VTB Modal dalam nota .
Harga boleh jatuh satu lagi $ 100 atau $ 200, Zeman Kingsview berkata. "Dalam jangka panjang, saya masih positif pada emas. Sikap tidak bertanggungjawab fiskal here to stay "dan kebimbangan inflasi telah menjalar sehingga, katanya.
Pasaran sedang menunggu untuk mendengar dari Pengerusi Rizab Persekutuan, Ben Bernanke, yang dijadual berucap pada perhimpunan yang terdiri daripada bank-bank pusat di Jackson Hole, Wyo., pada hari Jumaat.
Jangkaan Bernanke tidak akan mendedahkan lebih banyak rangsangan telah juga menyumbang kepada kejatuhan emas.
Pada perhimpunan tahun lalu, Bernanke mengumumkan pusingan kedua pelonggaran kuantitatif. Sebarang tanda-tanda program yang sama mungkin akan memberi manfaat kepada emas.
Terdahulu, Rabu, pelabur bergelut dengan Investors Service berita Moody memotong hutang kerajaan Jepun untuk AA3 dari Aa2 dengan unjuran stabil, memetik defisit yang besar di negara ini dan peningkatan terkumpul dalam hutang kerajaan sejak 2009.
Sementara itu, perak dikesan emas lebih rendah, dengan kontrak September SI1U -6,61% down $ 1.86, atau 4.4%, $ 40,43 auns.
Tembaga menongkah trend negatif. September kontrak logam HG1U 0,08% ditambah kurang dari 1 sen, atau 0.2%, $ 4 £.
Sila study djia chart semasa.
FBM KLCI traded lower at close
KUALA LUMPUR: The FBM KLCI and other stock markets in Asia slipped on Wednesday, as investors took in Moody's downgrade of its rating on Japanese government debt and shrugged off both a surge on Wall Street and fresh efforts by the Japanese government to prop up feeble economic growth.
In the news were CIMB Group Holdings Bhd, which announced record second quarter earnings and Axiata Group Bhd, which also saw its net profit rise in the similar quarter.
However, local airlines Malaysia Airlines (MAS) and AirAsia Bhd saw higher fuel cost eat into their second quarter operating numbers, with MAS posting a net loss of RM526.68mil while AirAsia posted a slight drop in its net profit at RM104.26mil.
Over in Singapore, its inflation accelerated to the fastest pace since January as transportation and housing cost increased. The consumer price index rose 5.4% last monthg from a year earlier, higher than the median survey of 5%.
Meanwhile the Federal Reserve chairman Ben Bernanke will be speaking at an annual gathering in Jackson Hole, Wyoming this Friday. Markets will be searching for something, anything, that indicates whether more stimulus is on the way.
A year ago during this same conference, Bernanke, described all the weapons the Fed had available to rescue the economy. Several months later, the Fed opened its arsenal and began a major asset-purchasing program intended to stimulate growth.
Over in the US, markets closed near session highs, with the Dow Jones posting its biggest gain in almost two weeks, despite a 5.8-magnitude earthquake in Virginia and after investors shrugged off a handful of disappointing economic news.
The Dow Jones Industrial Average added 2.97% or 322.11 points at 11176.76. Nasdaq Composite rose 4.29% or 100.68 points at 2446.06. Standard & Poor's 500 advanced 3.43% or 38.53 points at 1162.35.
On economic data front, new home sales dipped in July, to a five month low, falling nearly 1% to a seasonally adjusted annual rate of 298,000.
At 5pm, the FBM KLCI was down 13.22 points to 1,469.15. There were a total of 209 gainers and 528 losers with 294 stocks unchanged.
Tokyo's Nikkei 225 was down 1.07% to 8,639.61 and Hong Kong's Hang Seng Index was down 2.06% to 19,466.79.
Shanghai's A index was down 0.51% to 2,541.09 while Taiwan's Taiex Index was down 0.63% to 7,502.93.
Seoul's Kospi Index was down 1.23% to 1,754.78, with Singapore's Straits Times Index down 1.57% to 2,721.81.
Nymex crude oil was down $0.21 to US$85.23 per barrel.
Spot gold was up US$23.55 at US$1,852.18 per ounce.
The Ringgit was traded at 2.9785 to the Dollar
“Buy On Dip ( At Support Line) And Sell At resistance ( Upperline )” 
Share prices on Bursa Malaysia finished broadly lower following other regional markets, which also witnessed earlier gains wiped off in a knee-jerk reaction after Moody's cut Japan's credit rating.
At close, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 13.22 points or 0.9 per cent to 1,469.15, way off the day's high of 1,487.27, which was spurred by overnight gains on Wall Street on speculation of a stimulus plan to boost the United States' faltering growth. The FBM KLCI had opened 2.78 points higher at 1,485.15.
"The market fell abruptly as investors realised that the downgrade will have a negative effect on rest of Asia, although it is not as bad as U.S.," Jupiter Securities head of research Pong Teng Siew told Bernama here, today.
Moody's Investors Service cited large budget deficits and a buildup of debt since the 2009 global recession to cut its rating on Japan's government debt by one notch to Aa3, which also signals weak growth prospects.
Standard & Poor’s had downgraded the U.S. credit rating to AA+ from AAA.
"The impact of the downgrade is that Tokyo can't give near zero interest rates on government bond but the advantage is that 95 per cent of the government bonds are purchased by the domestic market," he explained.
On the flip side, even the five per cent of external buyers will probably shun away from the market, which doesn't augur well for Tokyo, he said.
A weaker Japanese economy will curtail the world's third largest economy's import capability and that will affect exporting nations like Malaysia, said Pong.
Japan's Nikkei shed 1.07 per cent to 8,639.61, Hong Kong's Hang Seng Index dropped 2.06 per cent to 19,466.79, Singapore's Straits Times Index eased 1.66 per cent to 2719.90 and Taiwan’s Taiex was down 0.63 per cent to 7,502.93.
"With Japan's credit rating being cut, investors turned more pessimistic and we are off for another roller coaster ride," said an analyst.
Globally, stock markets are waiting for some hints from US Federal Reserve Chairman Ben S. Bernanke of a possible stimulus plan this Friday, he said.
However, for now the volatility is here to stay, he warned.
Today, Bursa Malaysia's Finance Index shed 77.82 points to 14,032.16, the Plantation Index dipped 8.11 points to 7,281.83 and the Industrial Index slipped 56.54 points to 2,694.92.
The FBM Emas Index declined 92.88 points to 10,045.23, the FBM70 Index dipped 105.75 points to 10,946.47 and the FBM Ace eased 33.73 points to 3,764.0.
Decliners outnumbered advancers by 528 to 209 while 924 counters were unchanged and 448 others untraded.
A total of 892.352 million shares worth RM1.857 billion were traded today, up from 875.521 million shares valued at RM1.762 billion traded on Tuesday. -- Bernama
Palm futures steadier on external boost
CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on positive support from external markets.
A dealer said firmer soyaoil, soyabean and crude oil market had all pushed palm oil higher. He added that the market is likely to remain supportive until the Hari Raya Puasa.
However, another dealer said that most traders are still cautious over uncertainties in the global economy.
Spot month September gained RM36 to close at RM3,161 a tonne and October added RM48 to RM3,104. The benchmark month of November added RM46 to RM3,068 and December gained RM46 to RM3,054.
OIL
LONDON: Oil prices rose yesterday, boosted by better-than-expected manufacturing data in Germany and China and by uncertainty in Libya where government loyalists staged a fight back.
At 1206 GMT, Brent crude was up 31 cents (US$1.00 = RM2.97) to US$108.66 a barrel. US October crude was up US$1.06 to US$85.46, supported by expectations that US oil stockpiles released later in the session may drop.
But Brent — a benchmark measuring oil prices from Atlantic fields — continued to underperform US crude, equities and other commodities like copper, with expectations the Libyan conflict will come to a conclusion relatively soon, limiting gains.
RUBBER
THE Malaysian rubber market closed higher yesterday in line with the increased futures prices on the Tokyo Commodity Exchange (Tocom), dealers said.
A dealer said there was buying interest recorded but it was still very slow. “Buyers are waiting for prices to go lower,” he added.
At noon, the Malaysian Rubber Board’s official physical price for the SMR 20 was up 1 sen to 1,346.50 sen a kg while latex-in-bulk gained 2.5 sen to 861 sen a kg.
TIN
THE Kuala Lumpur Tin Market (KLTM) rose by US$150 to close at US$22,950 per tonne yeterday on active buying, dealers said.
"There was good demand from traders after prices went as low as US$22,800 yesterday," a dealer said.
On the LME, the tin price was unchanged at US$22,850 per tonne.
On the local front, offers stood at 40 tonnes with bids at 80 tonnes with Japanese, European and local traders accounting for yesterday trading.
Turnover was higher at 45 tonnes from the 40 tonnes on Monday.
The premium between the KLTM and LME widened to US$485 per tonne against US$335 per tonne on Monday. — Agencies
Follow the trend and get ready to short at 1506 above ^_^
PLS Note that the FKLI has breakout from Major Andrew
1st resistance is at 1506… can take que to short above it and while b4 that just ride the bulls )
2nd resistance is at 1526
“ Sell At Resistance “
