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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KLCI Technical Analysis - 11 Sept, 2015

Market Review for KLCI

• The FTSE Bursa Malaysia Kuala Lumpur Composite index erased losses on bargain hunting while the ringgit strengthened after depreciating to fresh levels on Thursday and gained 0.7% to close at 1,614.02 points.

• The Finance Index dropped 0.38% to 14,216.79 points, the Properties Index up 0.28% to 1,123.87 points and the Plantation Index rose 1.05% to 6,905.33 points. 

• The KLCI index had earlier fallen low of 1,586.84 and a high of 1614.02 and closed higher at 1614.02 points,during the session,as Asian markets contended with less optimistic economic data from China and Japan.

• There were there were 354 gainers to 422 losers and 302 counters unchanged.

Market Forecast for KLCI

• The KLCI index is expected to trade positive in coming session as it have crossed the level of 1603 and it may reach the level of 1630 in near future.

• However the investors sentiments can be defensive on the back of upcoming Bank Negara Malaysia's monetary policy statement coming tomorrow evening.

Market Highlights

• Malaysian share prices defended its 1,600-point despite being weighed by losses including at index-linked banking stocks.

• The FTSE Bursa Malaysia Kuala Lumpur Composite was down 6.38 points to 1,607.64.

• MIDF Research expects the ringgit to strengthen to between 4.00 and 4.20 against the US dollar within the next few months and in turn positively impact the local stock market.

• Foreign funds and retail investors were net sellers on Bursa Malaysia on Thursday, according to BIMB Securities Research.

• IOI Corporation Bhd is buying the entire oleochemicals business of Germany's Cremer Oleo GmbH & Co KG for 89.4 million euros, or about RM433 million.

• KNM Group Bhd's indirect 70%-owned joint venture company CNI Engineering & Construction Malaysia Sdn Bhd has been awarded a US$42 million (RM183 million) erection work contract by Toyo Thai Malaysia Sdn Bhd.

• SP Setia Bhd’s net profit for the third quarter ended July 31, 2015 rose 2.5 times to RM261.79 million from RM103.32 million a year ago on the back of a strong sales pipeline and timely handover of its maiden Australian property project, Fulton Lane.

• AirAsia Bhd has clinched the best low-cost airline title at the Business Traveller Asia-Pacific Travel Awards 2015, becoming the only airline that has won the title since the inception of the category in 2012.

• Berjaya Auto Bhd (BAuto) saw a marginal increase in revenue for the first quarter ended July 31, 2015 to RM512.55 million from RM507.95 million in the previous year’s corresponding quarter from the sales of Mazda vehicles in both the Malaysian and Philippine markets.

• Tune Ins Holdings Bhd has changed the company’s name to Tune Protect Group Bhd, as part of its rebranding initiative to better align with its future strategy and product roadmap.

• UEM Sunrise Bhd (UEMS) were the most actively traded at mid-morning today and jumped 7.61% on renewed buying interest.

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KLCI Technical Analysis - 10 Sept, 2015

Market Review for KLCI

• The FTSE Bursa Malaysia Kuala Lumpur Composite index rebounded on Wednesday and gained 17.32 points.The ringgit firmed up as investor sentiment was lifted by the strong performances of Japan and China. 

• The Finance Index increased 1.08% to 14177.71 points, the Properties Index up 1.11% to 1121.67 points and the Plantation Index rose 0.76% to 6833.88 points. The market traded within a range of 9.12 points. 

• The KLCI extended yesterday's gains and closed higher at 1604.44 points,made a high of 1605.79 and a low of 1596.67 during the session,following the overnight bullish performance in US markets. 

• The performance of our local bourse was in having two things arranged one in front of the other with our regional peers amid gained in most emerging Asian currencies.There were 666 gainers,228 losers and 253 counters unchanged

FBM KLCI Day Performance

Open	1597.9
High	1605.79
Low	1596.67
Close	1603.36
Change (in points)	16.24
% Change	1.02%
Volume	2558.2M
Rise	666
Fall	228
Unch	919

Market Forecast for KLCI

• The FBM KLCI Index is expected to trade with bullish sentiments if it will cross technically the level of 1605 in coming trading session.

• However,the cautious investor sentiments can bound the market to trade sideways.

KLCI Levels

Support 1	1554
Support 2	1531
Support 3	1503
Resistance 1	1606
Resistance 2	1631
Resistance 3	1660

Market Highlights

• Malaysian share prices opened lower this morning in line with the retreat at most regional markets as profit taking took its toll on the local market.

• The FTSE Bursa Malaysia Kuala Lumpur Composite lost 11.20 points to 1,592.16.

• Malaysia’s ringgit opened lower against the US dollar today on lack of buying momentum  to its lowest in more than 17 years as a renewed selloff in stocks.

• Bank Negara Malaysia is expected to hold its benchmark rate at 3.25% at a policy review tomorrow amid a plunging ringgit and global market uncertainty.

• TH Heavy Engineering Bhd’s newly appointed CEO Nusral Danir is expected to chart a new course for the oil and gas heavy engineering company, during the current low oil price scenario and beyond.

• Titijaya Land Bhd is targeting lower property sales of RM400 million for the financial year ending June 30, 2016  due to uncertainties in the softening property market.

• Property developer Land & General Bhd (L&G) foresees a 10-15% rise in construction costs moving forward due to the weakening ringgit, which will result in higher property prices for new projects

• AirAsia’s share price rose in active trade early Thursday on rising confidence in the low-cost carrier but the broader market was cautious, with banks and Tenaga Nasional erasing part of the previous day’s gains.

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KLCI Technical Analysis - 9 Sept, 2015

Market Review for KLCI

• On Tuesdaythe KLCI index closing higher at 1587.12 points. On Sectoral basis the sectoral indices performed in line with the market except Plantation Index which dropped 0.25% to 6782.5 points, Finance Index increased 0.93% to 14026.62 points, Properties Index up 0.36% to 1109.32 points. 

• The KLCI market traded within a range of 17.95 points between an intra-day high of 1594.91 and a low of 1576.96 during the session.

• The FBM KLCI closed positive and gained 4.27 points or 0.27% on Tuesday, supported by the bullish movement on the heavy weight counters like Maybank and Sapurakencana Petroleum.

Market Forecast for KLCI

KLCI index is expected to trade positive in coming trading session however 1603 is the immediate resistance if it breaks this level then it can reach to 1630.

FBM KLCI Day Performance

Open	1584.2
High	1594.91
Low	1576.96
Close	1588.48
Change (in points)	5.63
% Change	0.36%
Volume	2007.3M
Rise	547
Fall	243
Unch	1023

KLCI Levels

Support 1	1555
Support 2	1530
Support 3	1503
Resistance 1	1603
Resistance 2	1630
Resistance 3	1660

Market Highlights

• Malaysian share prices rose 0.81% today to cross the 1,600-point level, lifted by selected blue chips in line with the advance at most global markets.

• The FTSE Bursa Malaysia Kuala Lumpur Composite rose 13.04 points to 1,600.16.There were 298 gainers, 94 losers and 182 counters unchanged.

• Malaysia needs to resolve its domestic issues in order to boost investor confidence and this would help stem the decline in the ringgit.

• Tenaga Nasional Bhd is one of four suitors shortlisted for the final round of bidding in state fund 1MBD's sale of its power unit Edra Global Energy Bhd.

• RHB Capital Bhd is expected to see a higher dilution impact on its earnings per share (EPS) and return on equity (ROE) after it fixed a lower rights issue price at RM4.82 on Monday.

• Moody's Investors Service said the depreciation in Malaysia's ringgit is manageable for the sovereign, banks and rated corporates, although it indicates a weakening environment.

• Telekom Malaysia Bhd (TM) has entered into a five-year service agreement with Bank Simpanan Nasional (BSN) for a new converged network transformation project.

• OSK Holdings Bhd, which is planning to form a mega property company, has failed to take over PJ Development Holdings Bhd (PJD) at the close of the offer yesterday.

• George Kent, the group has secured a contract for the supply and delivery of 600,000 units of water meters to Hong Kong’s Water Supplies Department (WSD) worth RM31.19mil, the largest single order for water meters it has ever obtained thus far.

• Water concessionaires and pipe makers such as Kumpulan Perangsang Selangor, Puncak Niaga, Engtex, JAKS Resources, YLI could see trading interest as the long-drawn saga over the water restructuring deal between the Selangor and Federal governments had concluded after the final four agreements were signed by both parties.

Malaysia Market Highlights - 08 Sept, 2015

Market Highlights

• Malaysian share prices fell in early Tuesday trade with Hong Leong Bank and MAHB among the major decliners in thin trade as foreign fund selling continues to weigh on market sentiment despite being shored up by local funds.
  The FTSE Bursa Malaysia Kuala Lumpur Composite was down 2.46 points to 1,580.39.There were 198 gainers, 197 losers and 205 counters unchanged.
   
•  Oil fell more than 3 percent on Monday, hit by weaker Chinese equities and record North Sea crude production data that added to global oversupply concerns.
   
• The government is expanding the palm oil industry into new markets such as Iran, Turkey, Kazakhstan and Turkmenistan.
   
• 1Malaysia Development Bhd's (1MDB) said it has shortlisted four parties to the final bidding stage for the sale of its power business held under Edra Global Energy Bhd.
   
• Malaysian exports, which rose at a slower 3.5% in July, are expected to see subdued growth ahead with analysts highlighting concerns over exports to China.

• The Media Shoppe Bhd (TMS) has made its first foray into the property development and construction industry through its wholly-subsidiary, Exonion Sdn Bhd (ESB), in a RM192 million deal to develop a piece of land in Kemaman, Terengganu.
   
• Dagang NeXchange Bhd's (DNeX) wholly-owned subsidiary DNeX Petroleum Sdn Bhd is acquiring 30% equity of Ping Petroleum Ltd via a proposed subscription of shares for US$10 million (RM42 million) cash.
   
• RHB Capital Bhd has fixed the issue price for its proposed rights issue at RM4.82 per rights share on the basis of one rights share for every five existing company share.
   
• Tecnic Group Bhd hit limit-up to RM1.20, up 30 sen, and prompting a query from Bursa Malaysia Securities.
   
• Puncak Niaga Holdings Bhd and Kumpulan Perangsang Selangor Bhd’s (KPS) shares rose yesterday in active trade ahead of the sealing of the Selangor water deal today.