KLCI Technical Analysis - 27 Aug, 2015

Market Review for KLCI

• Market Review for KLCI SMISCOR 0.765 9.29 CIHLDG 1.8 7.78 DRBHCOM 1.32 6.45 IQGROUP 2.2 6.28 The FTSE Bursa Malaysia Kuala Lumpur Composite stood at 16.43 points on Wednesday.  

• Also,the other sectors like the Finance Index increased 0.72% to 13914.16 points, the Properties Index up 0.58% to 1079.08 points and the Plantation Index rose 0.83% to 6762.38 points.

• As the movement of the market was within the range of 31.22 points where as the high of 1585.59 and a low of 1554.37. 

• Today the KLCI ended on a positive note and closed higher at 1580.37 points despite the descent at most regional markets as well as the overnight reversal of gains.

Market Forecast for KLCI

We expect that the KLCI market will trade on a positive note in coming trading session, technically if the FBM KLCI index breaks the resistance of 1595 then it can go to 1630. However the internal political instability can keep the investors sentiments defensive and can bound the market to trade sideways.

FBMKLCI Day Performance

Open	1559.75
High	1585.59
Low	1554.37
Close	1580.37
Change (in points)	16.43
% Change	105.00%
Volume	2150.7M
Rise	407
Fall	407
Unch	989

KLCI Levels

Support 1	1553
Support 2	1530
Support 3	1500
Resistance 1	1595
Resistance 2	1630
Resistance 3	1652

Market Highlights

• Malaysian share prices opened higher today with the higher regional markets following the sharp overnight rebound at Wall Street.

• The FTSE Bursa Malaysia Kuala Lumpur Composite rose 2.38 points to 1,582.75.

• Kwasa Land Sdn Bhd, the master developer of iconic Kwasa Damansara township has awarded Project R2-1, a proposed residential development of a site measuring 12.7 acres, to Naza TTDI Sdn Bhd.

• Selangor Dredging Bhd (SDB) is looking to replenish its landbank in Malaysia and Singapore as land prices have become more reasonable.

• Bermaz Sdn Bhd’s launchs two-seat convertible sports car has expanded the company’s product portfolio in catering to a niche market segment, with the roadster aimed at driving.

• Syarikat Takaful Malaysia Bhd (STMB) has entered into a 10 year bancatakaful relationship with RHB Islamic Bank for a total service fee of RM110 million.

• Tenaga Nasional Bhd (TNB) has signed a supplemental power purchase agreement (PPA) with Jimah East Power Sdn Bhd (JEP) for the development of the coal-fired power plant in Mukim Jimah.

• Hong Leong Bank Bhd's net profit for the fourth quarter ended June 30, 2015 rose 14.4% to RM614.85 million from RM537.45 million in the previous period.

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KLCI Technical Report - 25 Aug, 2015

Market Review for KLCI

The FBM KLCI index lost 42.53 points or 2.70% on Monday. The Finance Index fell 3.23% to 13675.61 points, the Properties Index dropped 2.60% to 1074.79 points and the Plantation Index down 2.23% to 6715.88 points. 

The market traded within a range of 21.94 points between an intra-day high of 1554.08 and a low of 1532.14 during the session. The KLCI extended its mid day losses by ending lower at 1532.14 points amid weaker performance in Wall Street on last Friday. Market sentiment remained bearish after ringgit continues to slide and as crude oil prices tumbled.

Market Forecast

KlCI index is expected to trade with bearish and drop further on the back of the political instability and the negative global market performance, technically if it breaks the support of 1530 then it is expected to drop further.

Technical Indicators

RSI stood below the center line at 19.64 with its CCI at -126.062. Difference line of MACD performed at -42.496 below its signal line which performed at -32.471.

KLCI Days Performance

Open	1553.25
High	1554.08
Low	1532.14
Close	1532.14
Change (in points)	-42.53
% Change	-2.70%
Volume	2580.1M
Rise	100
Fall	941
Unch	760

KLCI Levels

Support 1	1530
Support 2	1500
Support 3	1465
Resistance 1	1555
Resistance 2	1595
Resistance 3	1628

Market Highlights

• Malaysian share prices continued to open lower, in early trade, this morning tracking the sharp downturn in regional equity markets and concerns over China.

• The FTSE Bursa Malaysia Kuala Lumpur Composite stood at 1,507.45, down 24.69 points, after opening 16.41 points lower at 1,515.73.

• It was a black Monday for the ringgit and the local stock market yesterday, with both tumbling to record lows, amid fears over China’s slowing economy and falling crude oil prices.

• World stock markets plunged yesterday, after a near 9% dive in China shares and a sharp drop in the dollar and major commodities sent investors rushing for the exits.

• After dropping more than 1,000 points, or almost 7%, at Wall Street’s open, the Dow Jones Industrial Average eased losses but was still off more than 1% at midday.

• Malaysian Resources Corp Bhd's (MRCB) net profit for the second quarter ended June 30, 2015 almost halved to RM60.10 million from RM118.53 million a year ago due to higher expenses and lower profit from operations.

• Uzma Bhd ( Financial Dashboard) rose 3.16% early today after the company reported 2Q core net profit of RM11.9 million bringing 1H15 core net profit to RM25.1 million.

• Plantations-to-motoring conglomerate Sime Darby Bhd said it is weighing options to strengthen its balance sheet after its acquisition of New Britain Palm Oil (NBPO).

• Boustead Holdings Bhd's second quarter net profit ended June 30, 2015 dropped 25% to RM50.8 million, from RM67.7 million a year ago, largely due to the decline in its palm products and fuel-trading revenue.

• Malaysian Pacific Industries Bhd (MPI) ( Financial Dashboard) fell in early today amidst thin trade after AffinHwang Capital Research downgraded MPI to Sell at RM6.42 with a lower target price of RM4.31 (from RM6.24) and said MPI reported a stronger-than-expected set of FY15 earnings.

• Real estate investment firm Pelaburan Hartanah Bhd (PHB) is buying a parcel of commercial land measuring 10.8 acres in Kuala Terengganu for RM106 million to embark on a mixed development project.

• Felda Global Ventures Holdings Bhd’s (FGV) second quarter net profit ended June 30 2015 was down by half on higher cost of sales and lower earnings mainly from palm related segments.

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KLCI Weekly Report - 24 Aug, 2015

Weekly KLCI Report

• This week the FBM KLCI index given a range bound movement and traded FBM KLCI Week's Performance between the resistance level of 1595 and support level of 1550, on weekly basis the index have made a high of 1594.68 and low of 1557.1 and ended with a weekly loss of -1.38%.

• On Friday the KLCI ended flat with 2.74 points lower and closed at 1574.67 points amid overnight losses in US market. The performance of our local bourse was in line with our regional peers on concern that global growth is slowing. On sectoral basis.

• The Finance Index fell 0.77% to 14132.32 points, Properties Index dropped 0.51% to 1103.5 points and Plantation Index rose 0.28% to 6869.39 points in the last trading day of the week. The market traded within a range of 26.37 points between an intra-day high of 1583.38 and a low of 1557.01 during the session on Friday.

FBM KLCI Week's Performance

Open	1563.65
High	1583.38
Low	1557.01
Close	1574.67
Change (in points)	-22.15
Change ( in %)	-1.38%

Market Forecast

The KLCI index is expected to take sideways trend next week as the investors sentiments are still defensive about the market condition which can bound the index to give some good movement, however if it breaks the support of 1550 then it can drop further and can reach to the level of 1500 and extend the last three weeks heavy sell down.

Market Highlights

• Malaysian share prices opened lower,the FTSE Bursa Malaysia Kuala Lumpur Composite stood at 1,544.24, down 30.23 points. 

• The decline of the Malaysian ringgit is only temporary,the ringgit depreciation could be a silver lining as it is expected to work in favour for Malaysia in bringing in investments especially in the technology sector.

• Malaysia’s capital market may be volatile now, but the sell-offs in the past few weeks offer an opportunity for investors to capitalise on undervalued stocks. 

• MISC Bhd is disposing of its entire 50% stake in VTTI BV, which it bought in 2010, back to Vitol Group for US$830 million (RM3.41 billion).

• Malakoff Corp Bhd reported a 26.92% drop in net profit to RM86.29 million for the second quarter ended June 30, 2015 from RM118.08 million, mainly due to recognition of fair valuation gains from the acquisition of the remaining 75% equity in Port Dickson Power Bhd in previous corresponding period as well as share of losses recorded by an associate company.

• Mining and civil engineering company Minetech Resources Bhd hopes to deliver double-digit growth in revenue for its financial year ending March 31, 2016, driven mainly by upcoming government and public sector infrastructure projects.

• US oil prices traded below US$40 a barrel for the first time since the 2009 financial crisis, ending 2 percent lower on Friday on signs of US oversupply and weak Chinese manufacturing and notching the longest weekly losing streak in almost three decades.

• Malaysia’s capital market may be volatile now, but the sell-offs in the past few weeks offer an opportunity for investors to capitalise on undervalued stocks.

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Bursa Malaysia market Updates - 21 Aug, 2015

Market Summary

Market Highlights

• Malaysian share prices opened lower, in early trade, this morning, tracking the overnight fall on Wall Street amid lingeering concerns over China's slowing economy and uncertainty surrounding the US Federal Reserves' September rate hike.

• The FTSE Bursa Malaysia Kuala Lumpur Composite stood at 1,565.27, down 12.25 points, after opening 13.76 points lower at 1,563.65.

• The ringgit opened unchanged against the US dollar, in early trading, this morning, as investors and traders stayed on the sidelines.

• The ringgit should be trading at about 3.70 to the US dollar based on current fundamentals but investor sentiment has derailed the local currency beyond that level, said CIMB chairman Datuk Seri Nazir Razak.

• AMMB Holdings Bhd, which set a lower profit after tax and minority interest (patmi) target for its financial year ending March 31, 2016 (FY16), expects the economic environment to remain challenging due external factors and some political risks.

• Conglomerate YTL Corp Bhd saw its net profit slip 15.57% to RM298.93 million for the fourth quarter ended June 30, 2015 from RM354.07 million in the same period last financial year, mainly due to lower contribution in most of its business segments.

• WCT Holdings Bhd reported a 9.45% drop in net profit to RM31.06 million for the second quarter ended June 30, 2015 compared with RM34.3 million in the previous corresponding period, due to lower contribution from overseas projects and property development segment.

• Boustead Plantations Bhd's (BPB) net profit for the second quarter ended June 30, 2015 expanded more than threefold to RM48.6 million, from RM9.4 million in the previous corresponding quarter, mainly due to gain realised on land disposals, amounting to RM39.1 million.

• AirAsia Bhd's net profit for the second quarter ended June 30, 2015 fell 33.8% to RM243.03 million from RM367.16 million a year ago following the unrealised foreign exchange loss on borrowings and one-off costs related to the sale of leaseback of aircraft.

• Axiata Group Bhd’s net profit leaped 34.2% to RM610.7 million in the second quarter ended June 30 (Q2’FY15) from RM455.01 million from a year ago, due mainly to lower losses from its Indonesia operations, PT XL Axiata Tbk, arising from lower foreign exchange losses and net finance costs.

•  BIMB Holdings Bhd has appealed for more time to submit its second quarter results for the financial year ended Jun 30, 2015 pending approval from the relevant authority.

• Axiata Group Bhd’s net profit leaped 34.2% to RM610.7 million in the second quarter ended June 30 (Q2’FY15) from RM455.01 million from a year ago, due mainly to lower losses from its Indonesia operations, PT XL Axiata Tbk, arising from lower foreign exchange losses and net finance costs.

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KLCI Report - 20 Aug, 2015

Market Review for KLCI

• The FBM KLCI index gained 2.84 points or 0.18% on Wednesday. Finance Index increased 0.27% to 14249.6 points.

• Properties Index up 0.62% to 1114.99 points and Plantation Index rose 0.24% to 6864.47 points. The market traded within a range of 14.43 points between an intra-day high of 1594.68 and a low of 1580.25 during the session.

• The KLCI extended its gains for the second day after inched up 2.84 points to 1582.44 points despite overnight losses in US market as concern over slowing growth in China. Investors still remained cautious as lack of fresh lead in local market.

Market Forecast for KLCI

We expect the KLCI market to trade positive in next trading session if it breaks the technical level of 1595 and can reach to a intra-day high of 1625, however the mixed market sentiment can restrict it to trade sideways and it can take resistance at 1595.

FBM KLCI Day's Performance

Open	1594.68
High	1594.68
Low	1580.25
Close	1582.44
Change (in points)	2.84
Change ( in %)	0.18%
Volume	1894.2M
Rise	557
Fall	259
Unch	985

KLCI Levels

Support 1	1554
Support 2	1530
Support 3	1507
Resistance 1	1595
Resistance 2	1625
Resistance 3	1655

Market Highlights

• Malaysian share prices opened lower today in line with the regional markets, and stayed on course to stay below the crucial 1,600-point level.

• The FTSE Bursa Malaysia Kuala Lumpur Composite lost 7.93 points to 1,574.51. 

• Aemulus Holdings Bhd, an electrical and electronics engineering company in the semiconductor tester industry, has signed an underwriting agreement with TA Securities Holdings Bhd for a proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.

• Daya Materials Bhd’s net profit for the second quarter ended June 30, 2015 rose 87.68% to RM8.77 million from RM4.68 million a year ago, due to higher utilisation of its vessels Siem.

• Eco World Development Group Bhd, whose shareholders approved the joint development of the RM8.7 billion Bukit Bintang City Centre (BBCC) project yesterday, is on track to launch the project by year-end.

• Petronas Dagangan Bhd (PDB), the retail arm of national oil company Petroliam Nasional Bhd (Petronas), has rolled out the first Euro 4M RON 97 petrol in the country, two weeks ahead of its gazetted Sept 1, 2015 implementation date.

• MSM Malaysia Holdings Bhd’s net profit for the second quarter ended June 30, 2015 rose marginally to RM79.13 million from RM78.71 million a year ago due to increased demand for refined sugar.

• AMMB Holdings Bhd’s net profit slumped 36.7% to RM339.51 million in the first quarter ended June 30, 2015 (1Q15) from RM536.94 million a year earlier.

• Bank Negara Malaysia (BNM) has issued a circular to foreign exchange dealers of both local and foreign institutions disallowing onshore banks from taking onshore fixing orders from offshore banks

KLCI Market Report - 19 Aug, 2015

Market Review for KLCI

• The FBM KLCI index gained 7.06 points or 0.45% on Tuesday. The sectors have performed mixedwith Finance Index gained 0.98% to 14210.870 points.

• Properties Index dropped 0.10% to 1108.160 points and Plantation Index down by 0.32% to 684.290 points. The market traded within a range of 21.62 points between an intra-day high of 1584.05 and a low of 1562.88 during the session..

• The FBM KLCI rebounded 7.06 points or 0.45% as investors chased beaten-down Malaysian shares and have accounted the last Friday's gain in US market amid positive economic data. The KLCI bucked China's 6% share loss on further yuan devaluation concerns.

FBMKLCI Day Performance

Open	1573.09
High	1584.05
Low	1562.88
Close	1579.6
Change (in points)	7.06
Change ( in %)	0.45%
Volume	2254.7M
Rise	409
Fall	407
Unch	985

KLCI Levels

Support 1	1554
Support 2	1530
Support 3	1507
Resistance 1	1592
Resistance 2	1630
Resistance 3	1654

Market Highlights

• Malaysian share prices opened 0.95% higher today, lifted by blue chips on bargain hunting activities.

• The FTSE Bursa Malaysia Kuala Lumpur Composite jumped 15.08 points after opening 15.08 point higher at 1,594.68.to 1,594.68.

• The ringgit opened higher against the US dollar Wednesday, lifted by continued buying interest from exporters.

• AirAsia Bhd foresees US$160 million (RM654.40 million) in cost savings next year from weakening crude oil prices as the group’s hedging tenure ends in 2015.

• Shares of Genting Bhd and IJM Corp Bhd fell yesterday amid market barometer FBM KLCI’s 0.45% gain, after a continued exclusion by Norway’s sovereign wealth fund manager Norges Bank Investment Management.

• Tune Insurance Bhd (TIB) will surrender its Labuan reinsurance licence held by its subsidiary Tune LifeRe Ltd (TLR) effective Sept 4, 2015.

• Berjaya Assets Bhd saw its net profit fall to RM5.8 million for the fourth quarter ended June 30, 2015 against RM22.93 million in the previous corresponding period due to lower profits from the gaming, hotel and recreation business segments.

• India plans to spend US$1.5 billion (RM6.1 billion) in the next three years to help farmers cultivate oil palm in an area the size of New Jersey, government sources said, with Prime Minister Narendra Modi pushing to make the nation self-sufficient in edible oils this decade.

• Alliance Financial Group Bhd (AFG)’s net profit dropped 7% in its first quarter ended June 30, 2015 (1QFY16), from a year earlier, mainly on significantly higher bad loan allowance. 

• IGB Corp Bhd’s net profit for the second quarter ended June 30, 2015 (2QFY15) fell 17% to RM55.35 million or 4.06 sen a share, from RM66.76 million or 4.97 sen a share last year, dragged down by lower contributions from its property development and hotel divisions.

• Bina Puri Holdings Bhd has secured an island resort work contract that is worth RM100 million at Pulau Poh, which is located at Kenyir Lake, Terengganu.

•  Hup Seng Industries Bhd posted a 49% rise in net profit to RM14.55 million in the second quarter ended June 30, 2015 (2QFY15), from RM9.74 million a year ago, mainly on improved sales margin due to lower input costs.