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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