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.