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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