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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