KLCI Technical Analysis - 13 Oct, 2015

KLCI Market Review

• The FBM KLCI index gained 3.32 points or 0.19% on Monday. The Finance Index fell 0.02% to 14497.63 points, the Properties Index up 0.57% to 1183.51 points and the Plantation Index rose 0.37% to 7490.63 points. 

• The market traded within a range of 19.25 points between an intra-day high of 1719.90 and a low of 1700.65 during the session.

• The KLCI closed higher at 1709.86 points amid overnight gains in US markets following higher oil price. The performance of our local bourse was lifted by buying interest in heavy weight counters such as Tenaga, TM and Public Bank.

Market Forecast

• The FBM KLCI index is expected to trade with bullish sentiments if break the resistance level of 1719.868 as most key Asian markets were higher, with Hong Kong and China among the top performers. 

• Hong Kong stocks extended recent gains on Monday, with investor sentiment underpinned by renewed strength in China's markets and hopes that the US central bank will not raise interest rates any time soon.

Market Highlights

• Bursa Malaysia opened slightly lower as gains in utilities offset a retreat in energy shares on Monday, leaving US stocks slightly higher as investors remained nervous about third-quarter corporate results.There were 200 gainers, 206 losers and 197 counters traded unchanged on the Bursa Malaysia.

• The FTSE Bursa Malaysia Kuala Lumpur key index was at 1,707.66 down 2.20 points. 

• The DJIA rose rose 47.37 points, or 0.28%, to 17,131.86, the S&P 500 gained 2.57 points, or 0.13%, to 2,017.46 and the Nasdaq added 8.17 points, or 0.17%, to 4,838.64.

• The ringgit down 0.82% to 4.1815 per US$.

• Digi Bhd is planning to aggressively double site rollout for the year by adding more than 1,500 sites to solidify its stronger and more extensive network position by year-end.

• Petronas-linked stocks, plantations and banks underpinned the FBM KLCI’s advance in early Tuesday trade – the seventh straight days of gains – supported by foreign buying of index linked stocks.

• Glomac, highway concessionaires, Parkson, Icon Offshore and Metrod to be among the stocks which could see trading interest on Tuesday. 

• CIMB Equities Research believes that starting next year, Genting Malaysia will see a long-awaited multi-year re-rating process when the Genting Integrated Tourism Plan (GITP) comes onstream and starts to mature.

• Parkson Holdings Bhd has failed to get its independent shareholders’ approval for a proposed internal group reorganisation that would see its Singapore-listed subsidiary, Parkson Retail Asia Ltd (PRA), being parked under Hong Kong-listed Parkson Retail Group Ltd (PRG).

• Silk Holdings Bhd’s share price soared, leading gains among highway concessionaires following an announcement of toll rate hikes at major expressways in the Klang Valley effective Thursday.

• Icon Offshore Bhd and its partner FOB Swath Malaysia A/S have agreed to terminate their shipbuilding contract with Denmark-based Danish Yachts.

 

Malaysia Market Highlights - 12 Oct, 2015

Market Highlights

• Bursa Malaysia opened higher in the early session today with stronger investor optimism resulting in persistent buying interest in heavyweights.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 6.34 points to 1,712.88, after opening 3.3 points easier at 1,703.24.

• The ringgit opened softer against the US dollar today on profit taking after last week's rally. 

• Petroliam Nasional Bhd (Petronas) said it is committed to its Canadian liquefied natural gas (LNG) project despite the tumble in oil and gas prices which has hurt the state-owned oil company’s profitability.

• 1Malaysia Development Bhd (1MDB) has confirmed that it will hand over its US dollar-denominated cash deposits and part of its US dollar funds under management, either in cash or units, in exchange for International Petroleum Investment Co (IPIC) taking over US$3.5 billion bond principal and interest obligation.

• Mitrajaya Holdings Bhd has been awarded a RM52.19 million contract by the East Coast Economic Region Development Council for main infrastructure works at Pahang Technology Park in Gambang, Pahang.

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KLCI Technical Analysis - 09 Oct, 2015

Market Review for KLCI

• The FBM KLCI index gained 2.95 points or 0.17% on Thursday. The Finance Index fell 0.45% to 14411.73 points, the Properties Index up 0.04% to 1166.44 points and the Plantation Index down 0.65% to 7397.14 points. 

• The market traded within a range of 19.43 points between an intra-day high of 1701.21 and a low of 1681.78 during the session.

•  The KLCI closed flat with 2.95 points higher at 1692.20 points. The performance of our local bourse was limited as profit taking kicked in following the rally in the past three days.

Market Forecast for KLCI

The FBM KLCI index can trade with positive sentiments in coming session and end the week with positive sentiments as technically it have crossed the level of 1602 and it can reach to the level of 1700 in near term.

Market Highlights

• Bursa Malaysia opened higher as blue chips climbed in early Friday trade, powered by Petronas stocks and banks, following the firm overnight close on Wall Street as the ringgit rallied.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 13.6 points or 0.8% to 1,705.80. Turnover was 249.48 million shares valued at RM118.50mil. There were 245 gainers, 94 losers and 163 counters unchanged.

• The ringgit rose to 4.1480 to the US dollar from 4.2358 the previous day and it was at 6.3100 to the pountd sterling from 6.4922.

• Dow Jones closed over 120 pts up ,market should react well on this after yesterday's almost panic sellings in anticipation of a pullback of regional markets especially the Dow as the Dow futures was down all the way throughout yesterday.

• Puncak Niaga Holdings Bhd (PNHB) has received confirmation that all conditions precedent in the sale and purchase agreement (SPA) for the Selangor water takeover deal have been fulfilled and satisfied.

• Gas Malaysia Bhd, which recently held a groundbreaking ceremony for its compressed natural gas (CNG) mother station at Gebeng, Pahang, remains confident on its new business, given its future potential and growth. 

• YTL Power won the bid to supply power from its existing 808-megawatt (MW) power plant in Paka, Terengganu, to the main grid for two years and 10 months from March 1, 2016.

• Daya Materials bagged a €17.7mil (RM88mil) subcontract from Axima Concept SA of France, to provide marine heating, ventilation and air conditioning equipment and services.

KLCI Technical Analysis - 08 Oct, 2015

Market Review for KLCI

The FBM KLCI index gained 26.74 points or 1.61% on Wednesday. The Finance Index increased 1.68% to 14477.42 points, the Properties Index up 0.85% to 1165.98 points and the Plantation Index rose 1.21% to 7445.73 points. The market traded within a range of 33.06 points between an intra-day high of 1690.79 and a low of 1657.73 during the session.

The KLCI extended its winning streak for the third day after gaining 26.74 points to 1689.25 points following overnight mix performance in US market. The performance of our local bourse was lifted by buying in heavy weights counters such as Sapurakencana Petroleum, CIMB and Genting.

Market Forecast

The FBM KLCI index is expected to trade sideways in coming session technically it have a immediate resistance at 1695 if it breaks this level then it can give a good positive movement in near term.

Market Highlights

• Bursa Malaysia opened higher for the fourth straight day with analysts expecting the index to test the key 1,700 level.

• The FTSE Bursa Malaysia Kuala Lumpur key index was up 3.2 points or 0.19% to 1,692.45. Turnover was 833.54 million shares valued at RM572.01mil. There were 262 gainers, 299 losers and 250 counters unchanged.

• DRB-Hicom Bhd, which has secured a 15-year contract extension to supply aircraft composite components to UTC Aerospace System, expects its aerospace arm to register an 18-20% revenue growth for the financial year ending March 31, 2016 (FY16).

• OpenSys (M) Bhd is optimistic on its business growth, given the market potential and positive ecosystem in the country.

• KNM Group Bhd’s unit KNM Process Systems Sdn Bhd has clinched a contract worth RM581 million from Drenl Ltd to undertake the engineering, procurement, construction and commissioning of a waste-to-energy facility at Croydon in the United Kingdom.

•  Malaysian Rating Corp Bhd (MARC) has affirmed its long-term ratings on WCT Holdings Bhd’s debt and sukuk issuances but revised the ratings outlook of the construction firm to “negative” from “stable”.

• Genting Malaysia Bhd’s £150 million (RM967.5 million) Resorts World Birmingham in the UK will open its doors on Oct 21, at 10am (UK time).

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Malaysia Market Highlights - 06 Oct, 2015

Market Highlights

• The Malaysian stocks market jumped in early Tuesday trade, extending its gains for the second day, as investor sentiment firmed up following the strong overnight close FBM KLCI rose 13.56 points or 0.82% to 1,661.15. Turnover was 283.86 million shares valued at RM118.99mil. There were 330 gainers, 79 losers and 177 counters unchanged.

• Malaysian palm oil futures rose on Monday, supported by strong gains in rival oilseed and crude oil prices.

• Mobile virtual network operator XOX Bhd was slapped with an unusual market activity (UMA) query yesterday, following the sudden spike in price and volume of its shares.

• Khazanah Nasional Bhd is not in a hurry to sell its 30% stake in Bank Muamalat Malaysia Bhd, said its managing director Tan Sri Azman Mokhtar.

• Malayan Banking Bhd (Maybank) officially launched its Myanmar operations yesterday and aims to focus on transaction banking, corporate lending and treasury services as part of its objective to establish itself as a leading cross-border bank in the country.

• OCK Group Bhd is looking to boost its recurring income in the next three years by acquiring and building new greenfield telecommunications infrastructure, inclusive of towers and sites, to lease to telecom operators in the Asean region.

• CIMB Equities Research has cautioned that UMW Toyota’s proposal to raise the prices of all its Toyota and Lexus vehicles by 4% to 16% effective January next year could impact sales.

Malaysia - 05 Oct, 2015

Market Highlights

• Bursa Malaysia opened marginally higher today, led by positive buying momentum in heavyweights.

• The FTSE Bursa Malaysia Kuala Lumpur Compositethe key index rose 4.26 points to 1,633.06, after opening 0.79 point better at 1,629.59.

• The ringgit opened stronger against the US dollar today as negative sentiment over the latter helped boost demand.

• Axiata Group Bhd’s unit, edotco Group Sdn Bhd, is buying a 75% stake in Digicel Asian Holdings Pte Ltd based on an enterprise value of US$221 million (RM974.61 million) on a cash free and debt-free basis.

•  Poultry-based Lay Hong Bhd said it is in talks with a few potential foreign investors and expects to complete negotiations within a month.

• The Malaysian equity market is starting to show signs of stabilising despite the ringgit turmoil but it lacks a major catalyst for a re-rating in the immediate term, said Eastspring Investments Bhd general manager of investment service Yvonne Tan.