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MARKET UPDATES :
MALAYSIAN shares closed higher on Thursday with the Kuala Lumpur Composite Index gaining 0.19 points to 1,803.21. Some 1.6 billion lots, valued at RM2.1 billion were traded. Losers outnumbered gainers 433 to 344.
STOCK RECOMMENDATION :
BUY CHIN WELL HLDNG ABOVE 1.550 TARGET 1.590 1.640 SL 1.500
INTERNATIONAL COMMODITY NEWS :
Crude oil prices carried gains into Asia on Friday with U.S. jobs data in focus as well as the latest developments as Greece tries to reach new terms with reluctant creditors.Traders now looked ahead to the release of the latest U.S. nonfarm payrolls report on Friday, for further indications on the strength of the recovery in the labor market.Market analysts expect the data to show that the U.S. economy added 234,000 jobs in January, slowing from a gain of 252,000 in December, while the unemployment rate was forecast to hold steady at 5.6%. On the New York Mercantile Exchange, crude oil for delivery in March rose 1.39% to $51.39 a barrel. Overnight, crude oil futures rallied sharply on Thursday, one day after plunging almost 9%, as investors returned to the market to seek cheap valuations.
TRADING STRATEGY :
BUY GOLD ABOVE 1268.25 TARGET 1273.25 1279.25 SL 1262.25
SELL GOLD BELOW 1261.5 TARGET 1256.5 1250.5 SL 1267.5
U.S. stocks recorded solid gains on Thursday, buoyed by a rebound in oil prices, deal news and upbeat quarterly earnings, pushing the S&P 500 and Dow industrials into positive territory for the year.
The S&P 500 SPX, +1.03% closed 21 points, or 1%, higher at 2,062.50, with broad-based gains across all 10 main sectors. Some analysts pointed out that Friday’s move on the index will prove important, if it breaks through a key January resistance level of 2,064.
Platinum for April delivery PLJ5, +0.38% edged up by $10.80, or 0.9%, to end at $1,249.70 an ounce, while March palladium PAH5, -0.01% added $5.50, or 0.7%, to $795.70 an ounce.
High-grade copper for March delivery HGH5, +0.29% ended nearly flat at $2.595 a pound.
March natural-gas futures NGH15, +0.81% fell 6 cents, or 2.3%, to settle at $2.60 per million British thermal units. Early Thursday, the U.S. Energy Information Administration reported supplies of natural gas fell 115 billion cubic feet for the week ended Jan. 30.
