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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