KLSE weekly: Good rebound

KLSE enjoyed a good rebound for the week. Market may enter into consolidation phase in near term.

Market tone: weak

FKLI weekly: Good closing for the week

FKLI weekly chart printed with a long white candle as prices rebound after hit the low for year 2008 at 1083.0. Nevertheless, prices remains stayed below the head and shoulder's neckline support zone. Thus, market may consolidate in near term. We look for the underline support at 1045.5 (low since 11th Mar, 2007). For upside, resistance is at 1187.o.

Market tone: weak

FCPO weekly: Rebound after a steep fall

A good closing for the week after a steep fall to the low of 3439. This had created a long lower shadow candle with its small real body try to stay in the ascending triangle zone. Market may continue to look for a range to enter in consolidation phase in near term. Thus, we now look for the major support at 3420-3433. For upside, resistance is at 3647.

FCPO in range bound mode

FCPO was in range bound mode. Market may extend its consolidation in near term. We continue to look for the support at 3430-3435. While, resistance is at 3595-3614 (gap left over on 7th July, 2008)

FKLI on short term technical rebound

FKLI is covering the gap left over at 1132-1137.5. Short term technical rebound may continue.

Market view: hold long with sell stop adjusted to 1118.0

KLSE covered partial of the gap

KLSE hourly chart had covered partial of the gap left over at 1132.21-1149.09.

Trader's Highlight

DJI-NEW YORK, July 10 (Reuters) - U.S. stocks rose on Thursday, helped by optimism about a major deal in the chemicals sector and after the Federal Reserve chairman said the central bank and the government are focused on stabilizing the financial system.The Dow Jones industrial average <.DJI> rose 81.58 points, or 0.73 percent, to 11,229.02, while the Standard & Poor's 500 Index <.SPX> gained 8.70 points, or 0.70 percent, to 1,253.39. The Nasdaq Composite Index <.IXIC> was up 22.96 points, or 1.03 percent, to close at 2,257.85.

NYMEX-NEW YORK, July 10 (Reuters) - U.S. crude oil futures surged more than $6 on Thursday, stirred by news of Iran testing missiles for a second day and worries about the potential for more militant action in Nigeria.August crude settled up $5.60, or 4.12 percent, at $141.65, trading from $135.43 to $142.10.NYMEX hit a record $145.85 was hit July 3.

CBOT-July 10 (Reuters) -SOYBEANS - July up 31-1/2 cents at $16.09-1/2 per bushel; new-crop November up 30 at $15.87.Rallies on tight supply concerns. Demand for U.S. soybeans remains strong. Top global buyer China keeps booking soybeans despite historically high prices and Argentine farmers renewed their protests over a soy export tax hike.

Average of analysts' estimates pegged 2007/08 U.S. soy ending stocks 123 mln bu, below USDA's forecast in June for 125 mln. Estimate for 2008/09 soy ending stocks 137 million, below USDA June estimate for 175 million.

SOYOIL - July up 0.67 cent at 64.45 cents per lb.Higher following crude oil and soybeans.

Regional equities-SINGAPORE, July 10 (Reuters) - Most Southeast Asian stock markets edged lower on Thursday on fears the extent of global subprime losses and its economic impactmay be worse than expected. The Philippine index <.PSI> gave up 1.3 percent, while MalaysiaIndonesia were both off 0.4 percent.Thailand <.SETI> edged up 0.1 percent despite political <.KLSE> and uncertainty, while Vietnam <.VNI> rose 1.6 percent.

DJI technical landscape remains bearish

DJI daily technical outlook remains in bearish mode despite closing in positive territory.