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.