DJ MARKET TALK: CSC Steel May Rise; 1Q Profit Up More Than 5-Fold

0005 GMT [Dow Jones] CSC Steel (5094.KU) may rise to test 30-day moving average of MYR1.90, says dealer with local brokerage; this after steelmaker posts 1Q net profit of MYR30.6 milion vs MYR5.8 million a year earlier. Company says higher earnings due to higher sales volume, favorable selling prices of steel products; expects to remain profitable rest of year as steel prices still on uptrend. "1Q profit, annualized, beats street estimates by more than 20%," says dealer; adds earnings sustainable given robust demand for steel from economic recovery. Stock ends down 0.5% at MYR1.85 on Friday. (elffie.chew@dowjones.com)

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