Today’s KLCI Tracker: (21/05/2010) Friday

Overall medium technical readings say positive run is intact and but will ease a bit this week before up again.

- Expect KLCI to climb higher to test 1,350 – 1,370 band again soon. Range 1,400 – 1,410 is the next resistance.- 1,300 – 1,305 range is the immediate support; 1,275 – 1,280 is the next.

- Any pullback presents us with buying opportunities

Momentum tracker for the day:

MRCB- Medium – term positive money flow still intact and will continue- Stock is retesting the RM1.70 – RM1.80 range, eventually reaching the RM2.00 – RM2.30 band. The stock is consolidating positively in RM1.40 – RM1.55 range support.- Current pullback is a buying opportunity.

Results Note – CIMB Group (BUY, maintain) - Lower credit charge-off under FRS 139 adoptio

* Results Note – UMW (ADD, maintain)

- Inline* Results Note :

– Kossan (BUY, maintain) - A strong start to the year.

* Results Note – Nagamas International (Cease coverage) - Below expectations*

Flash Note – Kencana Petroleum (BUY, maintain)

- Outside Malaysia- U.S. stocks plunge on Europe as S&P 500 loses most in 13 months- U.S. leading index signals recovery to cool.

- Singapore economy grows more than forecast on exports- Philippines posts budget surplus amid spending freeze- Taiwan outpaces China as growth accelerates to 30-year high- Oil extends decline on euro debt crisis, U.S. recovery concern