ks55, thx. you holding? or exited?

closed to a white marubozu....continuation?

Extending the "price enhancement" theme, based on m2u screen after today's close :

SKPETRO v SUMATEC
P/E 18.88 - 18.88
EPS 18.92 - 14.34
NAPS 1.70 - 0.79
PRCE 3.54 - 0.34

US/CA/DE/GB/FR indices and WTI/Brent futures all red but Suma showing signs of inching on....hmm

train moving... how far let's see

Timing of EXdate and Nov QR will be important factors.

thx fortunebullz. higher very likely, but maybe not at current 2.83. maybe.

nice one @steady. i can resonate with that!

In the same circular, it says HRC capacity was 3.2m tonnes but production only 1.0m tonnes. This is due to dumping from other countries and little enforced protection locally.

This was in their 28May2014 circular thru Bursa.

Correction. Should be nearly 79% as at end May.

Megasteel is 70%-owned by Lioncor.
1st article : 120 days anti-dumping duties for Hot-Rolled Coils (HRC). Megasteel produces HRC
2nd article : Megasteel is chaired by ex-MITI minister TS Rafidah Aziz.

Better to buy EXdate at TERP 2.33 or thereabouts as long term investor?

good one rlch.

http://www.thestar.com.my/News/Nation/2014/05/11/Still-as-sharp-still-as-savvy-Despite-having-left-the-political-scene-for-many-years-former-Cabinet/

Published: Sunday May 11, 2014 MYT 12:00:00 AM
Updated: Sunday May 11, 2014 MYT 8:46:09 AM
Still as sharp, still as savvy

DESPITE having left the political scene for many years, former Cabinet minister Tan Sri Rafidah Aziz is as busy as ever. The ‘Iron Lady’, who is chairman of three companies - Air Asia X, Megasteel Sdn Bhd and Pinewood Studios - shares her thoughts on a wide range of issues, from GST to Malay rights’ groups and the social media in an exclusive interview with RAHMAH GHAZALI and RASHVINJEET S BEDI.

http://klse.i3investor.com/blogs/KlSE%20Stock%20Market%20News%20Update/62273.jsp
-----
KLSE Stock Market News Update

Author: EpicMalaysia | Publish date: Tue, 21 Oct 21:33

MARKET UPDATES :

The Kuala Lumpur Tin Market (KLTM) rose US$100 to close at US$19,400 a tonne yesterday in tandem with the firmer London Metal Exchange (LME). The tin price on the LME increased by US$55 to close US$19,305 a tonne. The dealer said KLTM price rise was higher than LME as some sellers were cautious as they wanted to see how LME would fare today.He said today’s market was dominated by scattered buying from the Europeans, Japanese and the locals.

The three-month Kuala Lumpur Interbank Offered Rate (Klibor) futures contracts closed untraded yesterday on lack of buying interest, dealer said. Spot month November 2014, December 2014, January 2015 and March 2015 remained unchanged at 96.25, 96.26, 96.22 and 96.18, respectively. Open interest stood at 2,660 contracts. At the 11am fixing, the underlying three-month Klibor stood at 3.75 per cent. Bernama .

AMALGAMATED Industrial Steel Bhd (AIS), which have been in the red for six years, is hopeful of narrowing loss this year as it sells its pipes at higher prices, following the government’s slapping of anti- dumping tax on select imported hot-rolled coils (HRC).“We’re relieved to hear that there’s better government enforcement in the form of anti-dumping investigation. We’re a customer of Megasteel,” said AIS chief financial officer Jack Soo. For 120 days from Thursday, the Ministry of International Trade and Industry (Miti) has imposed provisional anti-dumping duties of between 3.15 per cent and 29.37 per cent on HRC originating or imported from China, Indonesia and South Korea.

http://www.forbes.com/sites/christopherhelman/2014/10/20/why-harold-hamm-isnt-worried-about-plunging-oil-prices/

Was aiming for that low but this morning shoot up to 3.95 so far.

SuperBear, thx for the link.

A BRUTAL BLOODTOBER

Exactly 2 hours after opening, both DAX and FTSE went truly below their yesterday closes. CAC was at 5 mins earlier at 1h55m. This is on 5min charts. All yet to come back up.

Well-spoken ks55. Above is all info only. Self have to decide.

Misif wants MITI to act fast on anti-dumping cases, impose margin in interim

By Jeffrey Tan / TheEdge Markets.com | October 16, 2014 : 12:47 PM MYT

KUALA LUMPUR (Oct 16): The Malaysian Iron & Steel Industry Federation (MISIF) has called on the government to act “quickly and decisively” on anti-dumping cases involving steel.

This is one of several measures the industry body is proposing to the Ministry of International Trade and Industry (MITI) to safeguard the interests of local steel players in light of aggressive competition from China.

MISIF President Datuk Soh Thian Lai said preliminary anti-dumping margins should be imposed while investigations are ongoing.

"There is too much export from China to Malaysia. If you ask me: 'Is China super competitive?', I say yes," he said at the 11th MISIF Conference on Status and Outlook of the Malaysian Iron and Steel Industry today.

Addressing a large crowd of industry players, Soh also urged the government to accord priority to made-in-Malaysia steel products in line with the government's "Buy Malaysia 1st Policy".

Deputy International Trade and Industry Minister Datuk Hamim Samuri, who was present, told reporters that MITI would consider the proposals, but declined to specify a timeline.

However, he stressed the need for steel players to be united and work together with the government, besides displaying a sense of “shared responsibility”.

Ann Joo Group of Companies's Group Managing Director Datuk Lim Hong Thye said global prices of steel would rise if Chinese tax rebates were abolished and prices of iron ore also rose.

http://www.theedgemarkets.com/my/article/misif-wants-miti-act-fast-anti-dumping-cases-impose-margin-interim

http://www.marketwatch.com/story/china-steel-now-as-cheap-as-cabbage-weighing-on-global-price-2014-10-13

aa111111, there is a lot of info out there. you most likely need to consider them yourself and decide. no one dares advise with any accuracy... or is there? it could boomerang because of external factors and investor mix (not all loyal to the counter, but to their money...which is right too).

also wonder if China factory slowdown means less steel dumping here.

maybe attracting those who want relative safety to the bloodbath elsewhere.

in-play this morning!

0947h, some fellas big short again.

so far, seeing action cuncun as opined by simon85 in his 0811h post.

TQ simon84 for sharing as it is.

waterfall 1.19 to 1.12 since news. some loyalty....

Agree with Noraini's view there.

Looks like sell on news since 1430h.

Manipulation.

true, oily gassy. their modus operandi to trap those undecided.

Wonderful. Thx Christine.

at 27, it would have fully retraced to 23June level, just prior to gap-up.

got action sikit this morning. more than the usual. been a long time coming. will it continue?

good recovery this morning. so far, up 0.13 to 4.05.

heavyweight shortists at work esp at 0910h, 0934h, 0943h. beware.

AT/AM the honourable.

Here's why shale oil stocks are tanking
http://www.cnbc.com/id/102078976

Illustrated example of the challengers shale producers now face.

yup. holding tight.... but somehow also feel like a sitting duck.

Touched two indicators today SMA200 and fibo 78.6%, from my view.

Meeting tmrw morning on the Bonus Issue.

hard to ascertain with any degree of confidence where and how long this will go. stay aside.

CMSB volume done is only 0.184% of its shares. shortists and bears are adding to panic sell from poor market sentiment. grossly overdone (worldwide) beyond the fundamentals of even the so-called strong stocks.

Broking houses have to preserve their raisons d'être. To defend fund outflows is quite normal for them.