KLCI Technical Analysis - 13 Oct, 2015

KLCI Market Review

• The FBM KLCI index gained 3.32 points or 0.19% on Monday. The Finance Index fell 0.02% to 14497.63 points, the Properties Index up 0.57% to 1183.51 points and the Plantation Index rose 0.37% to 7490.63 points. 

• The market traded within a range of 19.25 points between an intra-day high of 1719.90 and a low of 1700.65 during the session.

• The KLCI closed higher at 1709.86 points amid overnight gains in US markets following higher oil price. The performance of our local bourse was lifted by buying interest in heavy weight counters such as Tenaga, TM and Public Bank.

Market Forecast

• The FBM KLCI index is expected to trade with bullish sentiments if break the resistance level of 1719.868 as most key Asian markets were higher, with Hong Kong and China among the top performers. 

• Hong Kong stocks extended recent gains on Monday, with investor sentiment underpinned by renewed strength in China's markets and hopes that the US central bank will not raise interest rates any time soon.

Market Highlights

• Bursa Malaysia opened slightly lower as gains in utilities offset a retreat in energy shares on Monday, leaving US stocks slightly higher as investors remained nervous about third-quarter corporate results.There were 200 gainers, 206 losers and 197 counters traded unchanged on the Bursa Malaysia.

• The FTSE Bursa Malaysia Kuala Lumpur key index was at 1,707.66 down 2.20 points. 

• The DJIA rose rose 47.37 points, or 0.28%, to 17,131.86, the S&P 500 gained 2.57 points, or 0.13%, to 2,017.46 and the Nasdaq added 8.17 points, or 0.17%, to 4,838.64.

• The ringgit down 0.82% to 4.1815 per US$.

• Digi Bhd is planning to aggressively double site rollout for the year by adding more than 1,500 sites to solidify its stronger and more extensive network position by year-end.

• Petronas-linked stocks, plantations and banks underpinned the FBM KLCI’s advance in early Tuesday trade – the seventh straight days of gains – supported by foreign buying of index linked stocks.

• Glomac, highway concessionaires, Parkson, Icon Offshore and Metrod to be among the stocks which could see trading interest on Tuesday. 

• CIMB Equities Research believes that starting next year, Genting Malaysia will see a long-awaited multi-year re-rating process when the Genting Integrated Tourism Plan (GITP) comes onstream and starts to mature.

• Parkson Holdings Bhd has failed to get its independent shareholders’ approval for a proposed internal group reorganisation that would see its Singapore-listed subsidiary, Parkson Retail Asia Ltd (PRA), being parked under Hong Kong-listed Parkson Retail Group Ltd (PRG).

• Silk Holdings Bhd’s share price soared, leading gains among highway concessionaires following an announcement of toll rate hikes at major expressways in the Klang Valley effective Thursday.

• Icon Offshore Bhd and its partner FOB Swath Malaysia A/S have agreed to terminate their shipbuilding contract with Denmark-based Danish Yachts.

 

Malaysia Market Highlights - 12 Oct, 2015

Market Highlights

• Bursa Malaysia opened higher in the early session today with stronger investor optimism resulting in persistent buying interest in heavyweights.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 6.34 points to 1,712.88, after opening 3.3 points easier at 1,703.24.

• The ringgit opened softer against the US dollar today on profit taking after last week's rally. 

• Petroliam Nasional Bhd (Petronas) said it is committed to its Canadian liquefied natural gas (LNG) project despite the tumble in oil and gas prices which has hurt the state-owned oil company’s profitability.

• 1Malaysia Development Bhd (1MDB) has confirmed that it will hand over its US dollar-denominated cash deposits and part of its US dollar funds under management, either in cash or units, in exchange for International Petroleum Investment Co (IPIC) taking over US$3.5 billion bond principal and interest obligation.

• Mitrajaya Holdings Bhd has been awarded a RM52.19 million contract by the East Coast Economic Region Development Council for main infrastructure works at Pahang Technology Park in Gambang, Pahang.

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KLCI Technical Analysis - 09 Oct, 2015

Market Review for KLCI

• The FBM KLCI index gained 2.95 points or 0.17% on Thursday. The Finance Index fell 0.45% to 14411.73 points, the Properties Index up 0.04% to 1166.44 points and the Plantation Index down 0.65% to 7397.14 points. 

• The market traded within a range of 19.43 points between an intra-day high of 1701.21 and a low of 1681.78 during the session.

•  The KLCI closed flat with 2.95 points higher at 1692.20 points. The performance of our local bourse was limited as profit taking kicked in following the rally in the past three days.

Market Forecast for KLCI

The FBM KLCI index can trade with positive sentiments in coming session and end the week with positive sentiments as technically it have crossed the level of 1602 and it can reach to the level of 1700 in near term.

Market Highlights

• Bursa Malaysia opened higher as blue chips climbed in early Friday trade, powered by Petronas stocks and banks, following the firm overnight close on Wall Street as the ringgit rallied.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 13.6 points or 0.8% to 1,705.80. Turnover was 249.48 million shares valued at RM118.50mil. There were 245 gainers, 94 losers and 163 counters unchanged.

• The ringgit rose to 4.1480 to the US dollar from 4.2358 the previous day and it was at 6.3100 to the pountd sterling from 6.4922.

• Dow Jones closed over 120 pts up ,market should react well on this after yesterday's almost panic sellings in anticipation of a pullback of regional markets especially the Dow as the Dow futures was down all the way throughout yesterday.

• Puncak Niaga Holdings Bhd (PNHB) has received confirmation that all conditions precedent in the sale and purchase agreement (SPA) for the Selangor water takeover deal have been fulfilled and satisfied.

• Gas Malaysia Bhd, which recently held a groundbreaking ceremony for its compressed natural gas (CNG) mother station at Gebeng, Pahang, remains confident on its new business, given its future potential and growth. 

• YTL Power won the bid to supply power from its existing 808-megawatt (MW) power plant in Paka, Terengganu, to the main grid for two years and 10 months from March 1, 2016.

• Daya Materials bagged a €17.7mil (RM88mil) subcontract from Axima Concept SA of France, to provide marine heating, ventilation and air conditioning equipment and services.

KLCI Technical Analysis - 08 Oct, 2015

Market Review for KLCI

The FBM KLCI index gained 26.74 points or 1.61% on Wednesday. The Finance Index increased 1.68% to 14477.42 points, the Properties Index up 0.85% to 1165.98 points and the Plantation Index rose 1.21% to 7445.73 points. The market traded within a range of 33.06 points between an intra-day high of 1690.79 and a low of 1657.73 during the session.

The KLCI extended its winning streak for the third day after gaining 26.74 points to 1689.25 points following overnight mix performance in US market. The performance of our local bourse was lifted by buying in heavy weights counters such as Sapurakencana Petroleum, CIMB and Genting.

Market Forecast

The FBM KLCI index is expected to trade sideways in coming session technically it have a immediate resistance at 1695 if it breaks this level then it can give a good positive movement in near term.

Market Highlights

• Bursa Malaysia opened higher for the fourth straight day with analysts expecting the index to test the key 1,700 level.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 3.2 points or 0.19% to 1,692.45. Turnover was 833.54 million shares valued at RM572.01mil. There were 262 gainers, 299 losers and 250 counters unchanged.

• DRB-Hicom Bhd, which has secured a 15-year contract extension to supply aircraft composite components to UTC Aerospace System, expects its aerospace arm to register an 18-20% revenue growth for the financial year ending March 31, 2016 (FY16).

• OpenSys (M) Bhd is optimistic on its business growth, given the market potential and positive ecosystem in the country.

• KNM Group Bhd’s unit KNM Process Systems Sdn Bhd has clinched a contract worth RM581 million from Drenl Ltd to undertake the engineering, procurement, construction and commissioning of a waste-to-energy facility at Croydon in the United Kingdom.

•  Malaysian Rating Corp Bhd (MARC) has affirmed its long-term ratings on WCT Holdings Bhd’s debt and sukuk issuances but revised the ratings outlook of the construction firm to “negative” from “stable”.

• Genting Malaysia Bhd’s £150 million (RM967.5 million) Resorts World Birmingham in the UK will open its doors on Oct 21, at 10am (UK time).

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Malaysia Market Highlights - 06 Oct, 2015

Market Highlights

• The Malaysian stocks market jumped in early Tuesday trade, extending its gains for the second day, as investor sentiment firmed up following the strong overnight close FBM KLCI rose 13.56 points or 0.82% to 1,661.15. Turnover was 283.86 million shares valued at RM118.99mil. There were 330 gainers, 79 losers and 177 counters unchanged.

• Malaysian palm oil futures rose on Monday, supported by strong gains in rival oilseed and crude oil prices.

• Mobile virtual network operator XOX Bhd was slapped with an unusual market activity (UMA) query yesterday, following the sudden spike in price and volume of its shares.

• Khazanah Nasional Bhd is not in a hurry to sell its 30% stake in Bank Muamalat Malaysia Bhd, said its managing director Tan Sri Azman Mokhtar.

• Malayan Banking Bhd (Maybank) officially launched its Myanmar operations yesterday and aims to focus on transaction banking, corporate lending and treasury services as part of its objective to establish itself as a leading cross-border bank in the country.

• OCK Group Bhd is looking to boost its recurring income in the next three years by acquiring and building new greenfield telecommunications infrastructure, inclusive of towers and sites, to lease to telecom operators in the Asean region.

• CIMB Equities Research has cautioned that UMW Toyota’s proposal to raise the prices of all its Toyota and Lexus vehicles by 4% to 16% effective January next year could impact sales.

Malaysia - 05 Oct, 2015

Market Highlights

• Bursa Malaysia opened marginally higher today, led by positive buying momentum in heavyweights.

• The FTSE Bursa Malaysia Kuala Lumpur Compositethe key index rose 4.26 points to 1,633.06, after opening 0.79 point better at 1,629.59.

• The ringgit opened stronger against the US dollar today as negative sentiment over the latter helped boost demand.

• Axiata Group Bhd’s unit, edotco Group Sdn Bhd, is buying a 75% stake in Digicel Asian Holdings Pte Ltd based on an enterprise value of US$221 million (RM974.61 million) on a cash free and debt-free basis.

•  Poultry-based Lay Hong Bhd said it is in talks with a few potential foreign investors and expects to complete negotiations within a month.

• The Malaysian equity market is starting to show signs of stabilising despite the ringgit turmoil but it lacks a major catalyst for a re-rating in the immediate term, said Eastspring Investments Bhd general manager of investment service Yvonne Tan.

Market Highlights - 28 Sept, 2015

Market Highlights

• Bursa Malaysia opened lower today on poor buying sentiment after a long weekend with investors still cautious on global growth outlook

• The FTSE Bursa Malaysia Kuala Lumpur Composite was 1.85 points lower to 1,613.16 after opening 2.49 points easier at 1,612.52.

• The ringgit continued its decline in early trade today, as the greenback strengthened amid the possibility for an increase in interest rates this year.

• Foreign funds sold down their shareholdings in Malaysian equities in the week ended Sept 24 with net selling at RM1.268bil.

• Tadmax Resources Bhd has received Bursa Malaysia's approval for a further extension of six months to complete its private placement exercise.

•  Mieco Chipboard is selling its unit Mieco Wood Products Sdn Bhd, which is mainly involved in reforestation, for RM35mil cash to repay borrowings and for additional working capital.

• SYF’s net profit for the fourth quarter ended July 31, 2015 almost doubled to RM10.13mil following contribution from its property development segment.

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KLCI Technical Analysis - 25 Sept, 2015

Market Review for KLCI

• The FTSE Bursa Malaysia Kuala Lumpur Composite index lost 4.10 points or 0.25% on Tuesday. The Finance Index fell 0.45% to 14189.02 points, the Properties Index up 0.24% to 1158.54 points and the Plantation Index down 0.15% to 6994.46 points. The market traded within a range of 13.17 points.

• The KLCI closed down at 1635.37 points more than one-week low as Southeast Asian stock markets mostly fell. Market sentiment remained bearish after ringgit continues to slide and as crude oil prices dropped.

Market Forecast

The FBM KLCI index is expected to trade with bearish sentiments and can take support at 1604 as the investors sentiment can continue to remain negative on the back of the Chines economic slowdown.

Market Highlights

• Bursa Malaysia fell into the red for its fourth consecutive session amid the negative regional market performances. The MACD Histogram has extended another red bar, while the RSI hovers above the 50 level. The immediate resistance is 1,650-1,660 levels. Support is at the 1,560-1,600 levels.

• The ringgit continued its decline in early trade on Friday, testing the 4.38 level per US dollar for the first time since the Asian financial crisis 17 years ago.

• Oil prices rose as much as 1 percent on Thursday, boosted by inventory draws at the U.S. crude futures' delivery hub although gains were capped by tumbling equity prices on Wall Street.

• The government will impose provisional anti-dumping duties of between 5.68% and 52.10% on imports of prepainted, painted or colour coated steel coils (PPCCSC) from China and Vietnam.

• Allianz Life Insurance Malaysia Bhd, which is aiming tohave 10,000 agents by year-end from 8,300 now, remains interested in the takaful business although it is not in talks with any potential acquisition target now.

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KLCI Technical Analysis - 23 Sept, 2015

Market Review for KLCI

The FTSE Bursa Malaysia Kuala Lumpur Composite index lost 4.10 points or 0.25% on Tuesday. The Finance Index fell 0.45% to 14189.02 points, the Properties Index up 0.24% to 1158.54 points and the Plantation Index down 0.15% to 6994.46 points. The market traded within a range of 13.17 points.

The KLCI closed down at 1635.37 points more than one-week low as Southeast Asian stock markets mostly fell. Market sentiment remained bearish after ringgit continues to slide and as crude oil prices dropped.

Market Forecast for KLCI

The FBM KLCI index is expected to trade sideways as the investors sentiments can remain cautious after the FED officials comment on the interest rate hike, however if market finds fresh leads in coming session then it may give a positive movement

 

Market Highlights

• Bursa Malaysia opened lower today on weaker demand as trading sentiment remained cautious ahead of the release of China's Caixin purchasing managers' index (PMI) for September today.

• The FTSE Bursa Malaysia Kuala Lumpur Composite fell by 16.9 points to 1,618.47 after opening 8.51 points easier at 1,626.86.

• 1Malaysia Development Bhd has expressed disappointment with Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz who apparently singled out the strategic development company for the ringgit's weakness.

• Foreign selling of Malaysian equities continued for the second day Tuesday with net selling at –RM185.5mil while the market was supported by local funds with local retailers nibbling.

• Iris Corp Bhd expects to see better performance for its financial year ending March 31, 2016 , mainly driven by its trusted identification division, housing project in Papua New Guinea and waste to energy incinerator plant in Phuket, Thailand.

• JAKS Resources Bhd has secured US$1.402 billion (RM5.82 billion) in financing to partly fund the construction of a coal-fired thermal power plant project (IPP project) in Hai Duong province, Vietnam.

• Eco World Development Group Bhd has proposed to buy 2,198.4 acres of leasehold land in Ijok, Kuala Selangor for RM1.181bil.

 

KLCI Technical Analysis - 22 Sept, 2015

Market Review KLCI

• The FTSE Bursa Malaysia Kuala Lumpur Composite index lost 4.10 points or 0.25% on Tuesday. The Finance Index fell 0.45% to 14189.02 points, the Properties Index up 0.24% to 1158.54 points and the Plantation Index down 0.15% to 6994.46 points. The market traded within a range of 13.17 points.

• The KLCI closed down at 1635.37 points more than one-week low as Southeast Asian stock markets mostly fell. Market sentiment remained bearish after ringgit continues to slide and as crude oil prices dropped.

Market Forecast

The FBMKLCI index is expected to trade sideways as the investors sentiments can remain cautious after the FED officials comment on the interest rate hike, however if market finds fresh leads in coming session then it may give a positive movement. 

FBMKLCI Days Performance

Open	1640.58
High	1641.41
Low	1628.24
Close	1635.37
Change (in points)	-4.1
% Change	-0.25%
Volume	1954.6M
Rise	424
Fall	322
Unch	1079

KLCI Levels

Support 1	1623.31
Support 2	1595.91
Support 3	1559.78
Resistance 1	1655.69
Resistance 2	1684.34
Resistance 3	1721.3

 KLCI Counter Specific News

• External pressures and not public debt are one of the issues that may cause rating agencies to rethink their ratings on Malaysia at present, said Fitch Ratings managing director and global head of sovereign and supranational group.
  
  
• The ringgit opened lower against a rejuvenated US dollar today.
  
  
• Oil markets have seesawed since the beginning of the week, torn between data that points towards a bottoming out of prices following an over 50 percent fall over the last year.
  
  
• Alliance Financial Group Bhd (AFG) is planning to raise RM4 billion from a bond issue for general banking and working capital requirements as well as to finance existing debt redemption.
  
  
• Berjaya Land Bhd saw its net profit for the first quarter ended July 31, 2015 drop 74% to RM9.91 million, from RM37.66 million a year ago, mainly due to higher prize payout coupled with the absorption of Goods and Services Tax (GST) expense, lower revenue from hotels and resorts business and higher finance costs.
  
  
• Affin Hwang has downgraded FGV to Sell form Hold after the recent surge in the company's share price.
  
  
  
  
  
  
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KLCI Market Highlights - 22 Sept, 2015

KLCI Market Review

• The FBM KLCI index gained more than 25 points in late afternoon trade on Monday.The Finance Index increased 1.59% to 14239.33 points, the Properties Index up 0.32% to 1140.27 points and the Plantation Index rose 2.50% to 7062.07 points.

• The market traded within a range of 44.79 points. high of 1645.49 and a low of 1600.70 during the session.

• The KLCI closed higher at 1639.63 points amid gains in US Market on last Friday before a Federal Reserve interest rate decision this week. Local sentiment improved after Prime Minister has announced several new measures to strengthen the economy.There were 303 gainers and 381 losers.

Market Forecast for KLCI

The FBM KLCI index is expected to trade with bullish sentiments in coming session as technically it can take the support at 1638 and turn positive buy covering the last days loss.

Market Highlights

• Bursa Malaysia opened on a firm note today on bargain hunting after yesterday's losses.

• The FTSE Bursa Malaysia Kuala Lumpur Composite was eased by 1.67 points to 1,637.8 at 9.21am, after opening 1.11 points better at 1,640.58.

• The ringgit opened lower against a rejuvenated US dollar today.

• External pressures and not public debt are one of the issues that may cause rating agencies to rethink their ratings on Malaysia at present, said Fitch Ratings managing director and global head of sovereign and supranational group.

• Oil markets have seesawed since the beginning of the week, torn between data that points towards a bottoming out of prices following an over 50 percent fall over the last year.

• Alliance Financial Group Bhd (AFG) is planning to raise RM4 billion from a bond issue for general banking and working capital requirements as well as to finance existing debt redemption.

• Berjaya Land Bhd saw its net profit for the first quarter ended July 31, 2015 drop 74% to RM9.91 million, from RM37.66 million a year ago, mainly due to higher prize payout coupled with the absorption of Goods and Services Tax (GST) expense, lower revenue from hotels and resorts business and higher finance costs.

• Affin Hwang has downgraded FGV to Sell form Hold after the recent surge in the company's share price.

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Malaysia Market Highlights - 21 Sept, 2015

Market Highlights

• Malaysian share prices opened lower today on weaker buying sentiment across-the-board on lack of fresh catalysts in the local market.

• The FTSE Bursa Malaysia Kuala Lumpur Composite was 13.65 points lower at 1,655.8 after opening 7.91 points easier at 1,661.54.

• The ringgit opened lower against the US dollar in early trading today on lack of demand.

•  Economists agree that the US Federal Reserve's move last week to keep interest rates unchanged will provide short-term relief to Malaysian financial markets, but they don't think it will help spark a strong rebound in the ringgit

• Hong Leong Investment Bank (HLIB) Research has downgraded the automotive sector to "underweight" and reduced its total industry volume (TIV) assumptions for 2015, on the back of lower vehicle sales in August.

• Cruise and resort company Genting Hong Kong Ltd will invest some 17.5 million euros (RM84.4 million) to acquire a 70% stake in Lloyd Werft Shipyard in Bremerhaven, Germany, and a 50% ownership of the shipyard land.

• Taliworks Corp Bhd has confirmed that it is eyeing Silk Holdings Bhd's wholly-owned subsidiary Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd (SILK), but stressed it is still in the exploratory stage. 

• WCT has clinched a construction contract for infrastructure jobs at Kwasa Damansara in Sungai Buloh valued at RM127.39mil.

•  Hwang Capital (Malaysia) Bhd reported a 5.51% drop in net profit to RM8.89 million for the fourth quarter ended July 31, 2015 compared with RM9.41 million in the previous corresponding period, partly due to higher operating costs.

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Malaysia Market Highlights - 18 Sept, 2015

Market Highlights

• Malaysian share prices opened opened lower today in line with its regional peers as US Federal Reserve's (Fed) decision to maintain key interest rate renewed concerns about the global growth outlook.

• The FTSE Bursa Malaysia Kuala Lumpur Composite fell 2.51 points to 1,679.03.There were 216 gainers, 172 decliners and 206 counters unchanged. 

• The ringgit opened higher against the US dollar today as more investors shifted interest towards emerging currencies, including the ringgit,A haze that’s engulfed parts of the world’s biggest oil palm-growing region in South-East Asia threatens to stunt fruit growth and disrupt harvesting during the peak production season.

• Hong Leong Investment Research has kept a Hold call on Glomac with a target price of 86 sen, as it expects the property outlook in near term remains uncertain given the weak sentiment post GST coupled with tightening loan approval from banks.

•  UEM Sunrise Bhd has revised its fund raising scheme after taking into account current weak market condition and its depressed share price.

• Titijaya land Bhd unit Liberty Park Development Sdn Bhd has secured a money lending licence from the Urban Wellbeing, Housing and Local Government Ministry.

• Gas Malaysia Bhd has agreed on the terms for the construction of gas distribution pipeline and metering facilities for the supply of natural gas to Honda Malaysia Sdn Bhd (HMSB).

• Brahim's Airline Catering Holdings Sdn Bhd (BACH) has signed a termination agreement with Malaysia Airline System (MAS) to end the existing shareholders' agreement between Brahim's Airline Catering Sdn Bhd (BAC), it and MAS.

Malaysia Market Highlights - 17 Sept, 2015

Market Highlights

• Malaysian share prices opened higher in early trade today, jumping more than 37 points higher boosted by gains in Tenaga and select blue chips, in tandem with the stronger Asian equities.

• The FTSE Bursa Malaysia Kuala Lumpur Composite is at 37.49 points to 1,683.47.There were 377 gainers, 100 decliners and 174 counters unchanged.

• The ringgit extended its gain on Tuesday to open higher against the US dollar today on continuous buying momentum.

• Oil prices jumped on Wednesday, after the largest US crude drawdown in seven months at the key US delivery point eased worries about over supply, helping to boost battered energy stocks.

• AmResearch has initiated coverage on Inari Amertron Berhad with a Buy and a fair value of RM3.83 a share, based on a PE of 15 times FY16F earnings, due to surging growth and demand for its radio frequency (RF) chips.

• Government bonds or sovereign yields trended upwards across the entire maturity spectrum in August, amid a weak ringgit and subdued oil prices, which steepened Malaysian Government Securities (MGS) yield curves from a year ago.

• Inter-Pacific Research Sdn Bhd has assigned a “neutral” rating on Johor Corp’s new Islamic real estate investment trust (REIT) Al-Salam, with a target price of RM1.14, based on a discount rate of 7.6% and a dividend growth of 2%.

KLCI Technical Analysis - 16 Sept, 2015

Market Review for KLCI

• The FTSE Bursa Malaysia Kuala Lumpur Composite index gained 7.52 points or 0.46% on Tuesday.

• The Finance Index increased 0.50% to 14310.03 points, the Properties Index up 0.65% to 1147.67 points and the Plantation Index rose 0.63% to 7106.69 points. The market traded within a range of 16.11 points.

• The KLCI maintained in positive territory following yesterday's surged after Prime Minister Najib Razak unveiled a RM20 bil package to boost Malaysian market and closed higher at 1647.15 points. 

• The performances of our regional peers were relatively poor as investors await US Federal Reserve's meeting starting this Wednesday.

Market Forecast for KLCI

The FBM KLCI index is expected to trade positive in coming session and can reach to the level of 1660 supported by the uplift market sentiments.

Market Highlights

• JAKS Resources Bhd expects to clinch more packages in the Langat 2 water treatment plant project once the water restructuring process in the state is concluded.

• Sapura Kencana Petroleum Bhd saw its net profit for the second quarter ended July 31, 2015, plunge 76.65% to RM104.08 million, from RM445.8 million in the previous corresponding quarter, primarily due to its oil and gas (O&G) asset impairment provision. 

• Damansara Realty Bhd is planning to set up a joint venture (JV) company with Japan’s Sumitomo Warehouse Co Ltd (SWC) to participate in downstream oil and gas operation in Pengerang Integrated Petroleum Complex (PIPC).

•  Maybank Investment Bank (MaybankIB) believes that the repatriation of overseas profits and capital, as well as the reactivation of ValueCap will boost investors’ confidence on the local stock market.

• Fututech Bhd, which is acquiring two construction firms for RM458 million, is looking to raise some RM150 million from a proposed private placement of 100 million new Fututech shares.

• The Malaysian Palm Oil Board (MPOB) is focusing on promoting palm oil application in non-food products and health benefits in China to further support the growth of the Malaysian palm oil industry.

• Sunway Holdings Sdn Bhd (SunHoldings), a unit of Sunway Bhd, has entered into a second supplemental agreement to buy hardware and household product trader Winstar Trading Sdn Bhd (WTSB) for RM130.95mil.

KLCI Technical Analysis - 15 Sept, 2015

Market Review KLCI

• The FBM KLCI index gained more than 25 points in late afternoon trade on Monday.Local sentiment improved after Prime Minister has announced a government equity investment firmwould be given 20 billion ringgit ($4.6 billion) to shore up the country's stock market, and announced other measures to support its slowing economy.

• The Finance Index increased 1.59% to 14239.33 points, the Properties Index up 0.32% to 1140.27 points and the Plantation Index rose 2.50% to 7062.07 points. The market traded within a range of 44.79 points. high of 1645.49 and a low of 1600.70 during the session. 

• The KLCI closed higher at 1639.63 points amid gains in US Market on last Friday before a Federal Reserve interest rate decision this week. 

• Local sentiment improved after Prime Minister has announced several new measures to strengthen the economy.There were 303 gainers and 381 losers.

Market Forecast for KLCI

• The FBM KLCI index is expected to trade with bullish sentiments in coming session supported by the positive measures taken by the local government to boost Malaysia's economy.

• Technically the KLCI index had crossed the level of 1614 and it may reach the level of 1660 in near term.

Market Highlights

• Malaysian share prices opened higher in early trade on continued buying activity following the announcement that the government will inject RM20 billion into a state investment firm to uplift the stock market.

• The FTSE Bursa Malaysia Kuala Lumpur Composite was 14.71 points higher at 1,654.34.

• The ringgit opened stronger against a basket of major currencies as demand was fuelled by growing optimism over a robust domestic economy following the proactive measures announced by the Prime Minister yesterday.

• SKP Resources Bhd has secured a new contract from its existing customer Dyson Ltd for the manufacturing of Dyson’s cordless vacuum cleaners, which is scheduled to commence in January 2016.

• Harvest Court Industries Bhd, which manufactures timber-related products, plans to diversify into property development while focusing more on timber services in order to return to profitability by the end of its 2017 financial year.

• Felda Global Ventures Holdings Bhd (FGV) shares, along with the shares of other government-linked companies (GLCs), were in focus following measures unveiled by the Government to strengthen the stock market.

• Agricultural chemical manufacturer and distributor Halex Holdings Bhd is venturing into the Cambodian gaming business.

• Aemulus Holdings Bhd made a firm debut on the ACE Market of Bursa Malaysia on Tuesday at 38 sen, which was 10 sen above its offer price of 28 sen.

Malaysia Market Highlights - 14 Sept, 2015

• Malaysian share prices opened higher but turned easier thereafter as traders turned cautious and stayed on the sidelines.

• The FTSE Bursa Malaysia Kuala Lumpur Composite was 1.48 points easier at 1,602.12 after opening 0.092 of a point higher at 1,605.14.

• The ringgit continued last week uptrend momentum to open higher against the US dollar supported by buying interest for the local note.

• Berjaya Food Bhd’s net profit rose 1.73% to RM6.11 million for the first quarter ended July 31, 2015 against RM6.0 million in the previous corresponding period.

• Genting Malaysia Bhd, which is on track to meeting the demands that the Genting Integrated Tourism Plan (GITP) will make on it next year, sees value in reclaiming the Guinness Book of Records title for operating the world’s largest hotel.

• Bank Negara Malaysia (BNM) has maintained the overnight policy rate at 3.25% as it remains accommodative and supportive of economic activity.

• Petronas Dagangan, Petronas Gas and MISC led the FBM KLCI higher in early Monday trade amid a mixed market while investors awaited measures from the government to strengthen the economy.

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KLCI Weekly Analysis

Weekly Wrap KLCI

• The week started with a falling window with drop of 1567.91. It remain slighlty bullish this whole week mixed sentiments. On weekly basis KLCI moved within the range of 1567.91 to 1612.32 and ended the week in a range bound phase, closed 44 points up. 

•  Investors remained cautious as await FED’s monetary policy meeting on next week, which could potentially see interest rate rise in almost a decade.

• The KLCI halted its winning streak and closed lower at 1603.60 points despite overnight gains in US markets following higher oil price, 10.42 points or 0.65% lost on Friday.

• Finance Index fell 1.41% to 14015.9 points, Properties Index up 1.14% to 1136.64 points and Plantation Index down 0.22% to 6890.07 points. 

• Market traded within a range of 9.78 points between an intra-day high of 1612.32 and a low of 1602.54 during the session.

FBM KLCI Week's Performance

Open	1578.5
High	1614.02
Low	1567.91
Close	1603.6
Change (in points)	14.44
% Change	0.91%

Weekly Technical Levels

Support 1	1553
Support 1	1503
Support 1	1448
Resistance 1	1614
Resistance 2	1660
Resistance 3	1700

Market Forecast 

The KLCI index is expected to trade sideways in coming week on the back of cautious investors sentiments which can bound the market to give some good movement. However if it breaks the technical level of 1614 then it can reach to the level of 1640 and trade positive.

Technical Indicators

RSI for this week is 32.001 with CCI at -132.308. Besides, difference line of MACD -51.838 below its signal line at -38.556.

Global factors & World Indices

• The ringgit opened higher against the US dollar today on technical correction. Investors have been covering their short US dollar positions against the ringgit as local note seems to be oversold.

• Malaysia's central bank left interest rates unchanged for a seventh meeting as quickening inflation and a weakening currency reduced scope for the central bank to add stimulus.

• Malaysia and China have agreed to activate the Economic Cooperation Working Group (ECWG), which was established under the Five Year Programme for Economic and Trade Cooperation signed in 2013.

• China's central bank has asked commercial banks to strengthen supervision of foreign-held non-resident accounts (NRA) purchases of foreign exchange in China.

• Inflation in Germany, Europe's biggest economy, stood at just 0.2 per cent in August, data on Friday, amid concerns that prices could begin to fall again in the 19-country eurozone.

• The biggest euro-area banks will put 2.8 billion euros (US$3.2 billion) this year into crisis funds intended to keep taxpayers off the hook for meltdowns in the financial industry.

• China stocks ended a directionless session with mixed performance, as investors awaited more signals for trying to judge the health of the country's economy.

• Singapore Exchange (SGX) retained its status as Derivatives Exchange of the Year and was named Central Counter party of the Year by Asia Risk magazine.SGX's diverse offerings were cited in awarding it the title of derivatives exchange of the year, the market operator announced. This is the second year in a row that SGX has won the title.

• Asian markets were relatively calm Friday at the end of a volatile week, with Shanghai and Hong Kong ticking higher after China unveiled a series of steps to shore up its economy, but fears of a US interest rate hike kept dealers on edge.

• A slump in oil prices is forcing the oil and gas services industry for the first time in 15 years to trim costs in a way that executives say will create a lasting change away from their usual lavish way of doing business.

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