Breaking news-Malaysia PM says to step down in June 2010

RTRS-Malaysia PM says has decided not to lead ruling coalition in next general election.
RTRS-Malaysia PM says to handover party presidency to Najib in June 2010.
RTRS-Malaysia PM says to contest in Party poll in December.
RTRS-Malaysia PM says Najib to remain as Deputy Party President.
RTRS-Malaysia PM says names Najib as next PM.

KLSE is covering gap

KLSE touched the day high at 1141.97 in intra-day basis but not closing. It seem may slowly targeting the gap left over on 4th July, 2008 at 1138.03-1153.33 in near term.

FKLI may want to form base

FKLI violated the resistance at 1121.5 with printed a long white candle had provide some support to the market momentum. Looks may forming base after the recent steep fall to the low of 1083 for year 2008. We continue to look for the upside at 1132-1137.5 (gap left over on 3rd July, 2008). Downside support is pegged at 1099.

Market view: buy stop was triggered at 1122, turn to hold long with sell stop at 1097.

FCPO continue its consolidation phase

FCPO continue to consolidate after last couple of days of sharply drop and likely to trade between 3450-3520 in near term for 3rd month basis. Downside support remained at 3430-3435. While, resistance put at 3595-3614 (gap left over on 7th July, 2008)

FCPO extended its consolidation phase

FCPO is still looking for a range to consolidate in near term

Breaking News-MPOB June vs May

-Malaysia's June palm oil output up 0.76% from May-MPOB
-Malaysia's June palm oil end stocks up 6.38% from May-MPOB
-Malaysia's June palm oil exports down 6.71% from May-MPOB

FKLI violated resistance at 1121.5

FKLI violated the resistance at 1121.5 as shown in above hourly chart. It may want to cover gap left over on 3rd July, 2008 at 1130.5-1143.0.

Market view: buy stop was triggered at 1122.0 Turn to hold long with sell stop at 1097.0

KLSE is covering gap

KLSE is covering gap which left over on 4th July, 2008 at 1132.21 to 1149.09.

Breaking News-Malaysia PM to step down June 2010

KUALA LUMPUR, July 10 (Reuters) - Malaysian Prime Minister Abdullah Ahmad Badawi will step down in June 2010, an influential news website said on Thursday.

Abdullah was expected to announce a handover to deputy premier Najib Razak at a party meeting on Thursday, the Malaysian Insider (www.themalaysianinsider.com) said, without citing its sources.

Abdullah laid out a timeline "because he believed that setting a date would bring some semblance of certainty to Malaysia and reduce the level of politicking which has upset many Malaysians and foreign investors", the report said.

The news website is run by several individuals known to be close to Abdullah.

A spokesman from the prime minister's office said he was unaware of any timetable for the premier to step down.

Trader's Highlight

DJI-NEW YORK, July 9 (Reuters) - Credit jitters swept Wall Street again on Wednesday and pushed a key market index back into bear territory as financial shares tumbled and the appeal of safe-haven government debt took a shine. The Dow Jones industrial average <.DJI> closed down 237.26 points, or 2.08 percent, at 11,146.95. The Standard & Poor's 500 Index <.SPX> fell 29.03 points, or 2.28 percent, at 1,244.67. The Nasdaq Composite Index <.IXIC> dropped 59.55 points, or 2.60 percent, at 2,234.89.

NYMEX-NEW YORK, July 9 (Reuters) - U.S. crude oil futures ended little changed on Wednesday as government data showed that a large drawdown in crude supplies last week was concentrated on the West Coast, which has little impact on futures prices.In the early going, rising tensions in the Middle East weighed on the dollar and that helped lift crude futures.On the New York Mercantile Exchange, August crude settled up a cent, or 0.01 percent, at $136.05 a barrel, trading from $135.90 to $138.91.

CBOT-CHICAGO, July 9 (Reuters) - Chicago Board of Trade grains and soy complex closing prices on Wednesday.

SOYBEANS - July up 17 cents at $15.78 per bushel, new-crop November up 27-1/2 at $15.57. Expectations for USDA to cut its new-crop soy ending stocks estimate in monthly crop report Friday remains supportive.

SOYOIL - July up 0.40 cent at 63.78 cents per lb.Technical bounce after sharp decline this week; bounce in soybeans and crude oil support.

FCPO-KUALA LUMPUR, July 9 (Reuters) - Malaysian crude palm oil futures rose 1.8 percent onWednesday, snapping a four-day losing streak as resurgent crude oil prices brightened global vegetable oil markets.The benchmark September contract on the Bursa Malaysia Derivatives Exchange settled up 61 ringgit at 3,515 ringgit ($1,084) per tonne.

Regional equities-SINGAPORE, July 9 (Reuters) - Most Southeast Asian stock markets rose on Wednesday as gains on Wall Street and a recoil in oil prices lifted stocks such as Singapore Exchange and Malaysian casino operator Genting .

Malaysia <.KLSE> rose 1.7 percent, the Philippine index<.PSI> gained 1.3 percent, while Singapore <.FTSTI> was up 1.1 percent.Vietnam <.VNI> closed 0.7 percent higher to resume an
uptrend, while Indonesia <.JKSE> inched 0.3 percent higher.Thailand <.SETI> was off just 0.2 percent, despite heightened political tensions.

DJI consolidated

DJI is in consolidation phase after hit the new low for year 2008 at 11120.74. Overall daily technical landscape remains weak.

Market tone: weak