Daily Commentaries 21st Sep 06
OSK Research
Technical View
The coup in Thailand appeared to have little impact on our market which recovered some of the losses towards the end of the day. For today, news includes our CPI numbers which was below expectations, MISC expanding its container services in the Middle East to capture the growing halal trade market, AirAsia reiterating that its business in Thailand is not impacted by the coup, JAKS Resources buying a steel pipe exporter in Penang and Kosmo Technology’s MOU with Korea’s Hanju Chemical Co. called off. Over in the US, markets rallied overnight as crude oil prices continued to slide and the US Fed maintained interest rate as expected. With news generally bland, the market could be ripe for a modest rebound towards the 966 pts resistance level. Support is now at the 957 and 948 pts levels.
Technical View
The coup in Thailand appeared to have little impact on our market which recovered some of the losses towards the end of the day. For today, news includes our CPI numbers which was below expectations, MISC expanding its container services in the Middle East to capture the growing halal trade market, AirAsia reiterating that its business in Thailand is not impacted by the coup, JAKS Resources buying a steel pipe exporter in Penang and Kosmo Technology’s MOU with Korea’s Hanju Chemical Co. called off. Over in the US, markets rallied overnight as crude oil prices continued to slide and the US Fed maintained interest rate as expected. With news generally bland, the market could be ripe for a modest rebound towards the 966 pts resistance level. Support is now at the 957 and 948 pts levels.
posted by nomadhunter at 7:37 PM
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