How do I see the market today? 29-Nov

US market closed lower last Friday. DJIA down 95.28p or 0.85% while S&P down 8.95p or 0.75%.

What's the latest development on Ireland?

According to Bloomberg website, it says "Ireland wins US$113 billion bailout as EU ministers seek to halt debt crisis" (Click on this link for the full news: Bloomberg Ireland News)

What's the latest development on North Korea and South Korea?

China has proposed a six-party talks but South Korea seems to resist it. According to Bloomberg website, "South Korea resisted China’s call to resume six-party talks with North Korea, as its navy began maneuvers with U.S. warships amid threats of a “merciless” response by Kim Jong Il’s regime."(Click on this link for the full news: Bloomberg Korea News)

My view:

Today it is harder to predict. The Ireland news is positive but I think the negative impact from conflicts between North Korea and South Korea should have greater impact. Thus, I guess market should start weaker but the impact should be minimal. (drop less than 10 points). However, any bad / good development from Korea should be watched closely.

Stocks that I still find attractive:

1. FPI (Attractive PER at less than 6x, dividend yield still looks good if the Company gives final dividend of 7 sen like last year)
2. Axiata (Proxy to growing Indonesia market, with stability in Malaysia Celcom, there has been talks that the Company will give out maiden dividend in 2011)
3. SP SETIA (Heard the rumours that the Company may be the next property stock to go through Corporate Exercise, biggest shareholder = PNB)