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).

For more info, visit: www.capitalvia.com.my
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