KLSE Stock Recommendations

MARKET UPDATES :

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slid 0.32 per cent at close today, amid the fall in oil prices which weighed on trading sentiment in Asia, said dealers. The bench benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.98 points, to close at 1,847.36, after moving between a tight range of 1,845.52 and 1,852.06 throughout the day.

STOCK RECOMMENDATION :
BUY KLCC PROPERTY HOLDING ABOVE 6.810 TG 6.880, 6.960, 7.060 SL 6.710

KLSE IForex Recommendations

TRADING TIPS :

USD/JPY was down 0.45% to 113.48, holding below the seven-year peaks of 114.20 struck in the previous session. The yen remained under pressure after the Bank of Japan surprised markets by restarting its bond purchasing stimulus program on Friday, in a bid to shore up the faltering economic recovery.The BoJ acted after data showed that inflation fell to its lowest in nearly a year in September, as a sales tax hike which came into effect in April continued to hit domestic demand. The move fuelled expectations that the European Central Bank will have to implement quantitative easing measures in order to stave off the threat of deflation and spur growth in the euro area. Data on Monday highlighted the diverging monetary policy outlook between the Federal Reserve and its major peers.



INTRADAY OUTLOOK
Support: 112.97
Resistance: 113.62

RECOMMENDATION:
1. Buy USD/JPY Above 113.64-TG:113.84/114.14 SL 113.34
2. Sell USD/JPY Below 112.95-TG:112.65/112.35 SL 113.25

INTRADAY OUTLOOK
Immediate Support: 1.5979
Immediate Resistance: 1.6036

RECOMMENDATION:
1. Buy GBP/USD Above 1.6038-TG:1.6058/1.6088 SL 1.6008
2. Sell GBP/USD Below 1.5975-TG:1.5955/1.5925 SL 1.6005

KLSE Comex Recommendations

INTERNATIONAL GOLD NEWS :

Gold prices were hovering near four-year lows in early European trade on Monday, as Friday’s upbeat U.S. economic reports and the Bank of Japan’s surprise move to add stimulus measures boosted the dollar and dampened demand for the precious metal. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,171.10 a troy ounce during European morning trade, down 0.04%. The December contract settled 2.25% lower on Friday to end at $1,171.6 a troy ounce.

TRADING STRATEGY :
BUY GOLD ABOVE 1166 TGT 1170,1175 SL 1161
SELL GOLD BELOW 1162 TGT 1158,1153 SL 1167

Forex Market Update

The ICE U.S. Dollar Index dipped back below a psychologically significant threshold of 87.0000 Tuesday afternoon as the euro strengthened against the greenback.

The euro surged against the dollar Tuesday, rising as high as $1.2579, as investors took profits following four sessions of losses. The shared currency EURUSD, -0.05%   last traded at $1.2556, compared to $1.2504 late Monday.

Many analysts heralded the dollar’s rise above the 87.000 threshold, which it passed for the first time in four years on Monday, as the beginning of an uptrend in the currency’s value. The dollar index DXY, +0.21%   was down 0.33% on the day at 86.9780.

The kiwi NZDUSD, -0.09%  traded at 78.12 cents, compared to 77.40 cents late Monday.

The pound remained flat against the greenback for most of Tuesday’s session, after data that showed a modest improvement in the country’s construction sector failed to make an impression with investors. Sterling GBPUSD, -0.20%  traded at $1.5995, compared to $1.5981 Monday.

S&P Market News Update

The U.S. stock market finished Tuesday’s choppy session mostly lower, as steep losses in energy companies’ stocks weighed on the main benchmark.

The S&P 500 SPX, -0.28% finished 5.71 points, or 0.3%, lower at 2,021.10.