1. FBM KLCI gained 10.81p to 1505.33 on Monday. Yesterday, Thai Index was flat (+1.42p), Philippine Index also flat (-5.95p). These are signs that foreign selling almost done.
2. China inflation for was 4.9% in Jan-2011 which is lower than the expectation of 5.4%. This is good news as it shows inflation worry may be overdone.
3. Major news = Petronas made major "discoveries" of oil at Sarawak. This is positive for O&G sector. Stock to watch = SAPCRES, KENCANA and DAYANG.
4. Stocks mentioned in The Edge = AMMB (EPF accumulating) and AXIS REIT (reinvestment plan lauded).
5. My view = positive with 1510 as immediate target. PCHEM should lead the index today.
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
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