“The local stock market is expected to be bullish for the first half of this year due
to favourable conditions,” said Chart Trading Solutions Sdn Bhd’s (CTS) chief executive officer Richard Kang after the roadshow seminar.
As the main invited speaker, Kang touched on last year’s market analysis and market forecast for the first quarter of this year based on the results of the analysis, using FTSE Bursa Malaysia KLCI (FBM KLCI) index calculation methodology.
Among others, FBM KLCI uses a smaller basket of 30 stocks of the largest qualified companies listed on the Main Board and increased the frequency of index calculation from every 60 seconds to every 15 seconds in tracking the market pulse closely and more efficiently.
The FBM KLCI Index 2010 looked at the market’s trend, volume, momentum, and support and resistance, while sector analysis included sectors like construction, consumer product, finance, industrial product, plantation, property, and trading as well as services.
“Some people prefer looking at the stock market based on fundamentals, but I prefer technical analysis – using a suitable set of charting tools,” said Kang, who had been in market trading for the past 10 years.
He saw certain favourable developments in the coming Sarawak state election this year namely a possible early general election, as well as good commodity prices like for palm oil and rubber.
“However, there is a possible mild correction in the second half of the year,” he cautioned as stock prices could not always remain high.
The FBM KLCI analysis showed a medium to long term uptrend currently, while the sectors considered to be ‘out-perform’ or very attractive were construction, trading/service, plantation, industrial products and properties.
“Investors would be looking for fresh news, especially the first and second quarter reports this year to make their decisions,” he added.
Meanwhile MIMB’s senior vice president and head of dealing, Andrew Yaw was happy with the turnout of 65 out of 78 people invited for the roadshow.
MIMB also introduced its ‘EQtrade’ platform for online stock market trading for retail clients, with features like an attractive brokerage rate, and waiver of CDS account opening fee.
Bursa Malaysia’s retail business for securities markets manager Lohita Barani Naidu said that more of such market chat roadshows could be carried out in Miri with other partner stockbroking firms if time would permit.
Bursa Malaysia also introduced its ‘e-Share Payment’ facility for retail investors that would provide the convenience of electronic settlement via bank accounts, without the need to use cheques, or travel to the bank or stockbroker.
Another specially invited guest was SI Portal.com Sdn Bhd’s director of business development Albert Lim, who came with his colleague Tan Mei Siew.
Lim’s company provides stock market information through its portals or webfeeds to other organisations, and is a part of the Share Investor group, which is also a subsidiary of Singapore Press Holdings (SPH).
The Market Chat 2010/2011 roadshow team comprised of 10 members from EON Bank Miri branch, seven from MIMB, two from Bursa Malaysia, two from Share Investor, and one from CTS.
Other members of the MIMB team seen at the roadshow included e-Broking manager Agnes Chong Lai Hiong, Joseph Clement, Joey Tham, Leong Mei Loo, Chong Shun Hua. For the latest updates PRESS CTR + D or visit Stock Market news Today
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