Market Closing Update

MALAYSIAN shares ended higher on Tuesday with the Kuala Lumpur Composite Index adding 4.79 points to close at 1,838.56.

Some 2.09 billion lots, valued at RM2.46 billion were traded. Gainers numbered 308 while losers numbered 476.

KLSE Stock Recommendations

MARKET UPDATES :

WCT Holdings Bhd’s pre-tax profit for the third quarter ended Sept 30, 2014 fell to RM32.37 million from RM59.89 million in the same period last year.Revenue, however, rose to RM471.11 million from RM418.51 million previously. In a filing to Bursa Malaysia, the company said operational profit from its property development, investment, civil engineering and construction segments posted lower operational profit mainly due to lower project margin.



STOCK RECOMMENDATION :

BUY SAPURA KENCANA ABOVE 3.260 TARGET 3.300 3.350 SL 3.200

KLSE IForex Recommendations

TRADING TIPS :

EUR/USDwas up 0.31% at 1.2429, up from a session low of 1.2363 and off a high of 1.2443. The pair was likely to find support at 1.2503, last Thursday’s low, and resistance at 1.2600, last Wednesday’s high. The euro firmed against the dollar on Monday after an upbeat German business climate report surpassed expectations and offset ongoing expectations for the European Central Bank to loosen policy in the near future.The single currency found support after a report showed that German business sentiment improved this month after six successive months of declines, indicating that the downturn the euro area’s largest economy may be ending.



INTRADAY OUTLOOK
Support: 1.2397
Resistance: 1.2443

RECOMMENDATION:
1. Buy EUR/USD Above 1.2445-TG:1.2464/1.2495 SL 1.2415
2. Sell EUR/USD Below 1.2395-TG:1.2375/1.2345 SL 1.2425

INTRADAY OUTLOOK
Immediate Support: 117.72
Immediate Resistance: 118.34

RECOMMENDATION:
1. Buy USD/JPY Above 118.36-TG:118.56/118.86 SL 118.06
2. Sell USD/JPY Below 117.70-TG:117.50/117.20 SL 118.00

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices held steady to higher in Asia on Tuesday with investors looking for any cue on physical demand ahead of end-year holidays. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,198.20 a troy ounce, up 0.08%.Overnight, gold prices held steady on Monday, supported by softer dollar and a Chinese decision to trim interest rates, though uncertainty ahead of Tuesday’s economic growth and consumer confidence reports capped gains.

TRADING STRATEGY :

BUY GOLD ABOVE 1204 TARGET 1214 1228 SL 1194
SELL GOLD BELOW 1189 TARGET 1179 1170 SL 1199

S&P Market News Update

The S&P 500 and Dow Jones Industrial Average closed at record levels on Monday, but it was the small-caps and the Nasdaq Composite who stole the show.

The S&P 500 SPX, +0.29%  closed 5.91 points, or 0.3%, higher at 2,069.41, the 46th time it closed at record level this year. Consumer discretionary and tech sector stocks led the gains. The heaviest-weighted company on the index, Apple, Inc. rose 1.9%, helping lift the benchmark.