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.