KLSE Stock Recommendations

MARKET UPDATES :

Cahya Mata Sarawak Bhd’s pre-tax profit for the third quarter ended September 30, 2014 soared to RM104.18 million from RM62.53 million in the same period last year. Revenue grew to RM413.07 million from RM335.4 million previously. In a filing to Bursa Malaysia, the infrastructure facilitator attributed the solid performance to its cement, construction and road maintenance, construction materials and trading divisions. Group managing director, Datuk Richard Curtis, said the company was one of the best proxy-listed investments for Sarawak’s accelerating economic growth.



STOCK RECOMMENDATION :

BUY YTL CORP ABOVE 1.590 TG 1.630 1.710 SL 1.510

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KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.28% at 1.2509, up from a session low of 1.2444 and off a high of 1.2531. The pair was likely to find support at 1.2372, Monday’s low, and resistance at 1.2600, last Wednesday’s high.The euro firmed against the dollar on Wednesday after a mixed bag of U.S. data left investors questioning the strength of U.S. recovery and the timing of Federal Reserve rate hikes next year. It was the highest level since early September, confounding market calls for a decrease of 5,000.Finally, data showed that sales of new homes rose 0.7% in October to an annual rate of 458,000 units, but pending home sales unexpectedly fell 1.1% last month.Elsewhere, the euro was down against the pound.


INTRADAY OUTLOOK
Support: 1.2483
Resistance: 1.2530

RECOMMENDATION:
1. Buy EUR/USD Above 1.2532-TG:1.2552/1.2582 SL 1.2502
2. Sell EUR/USD Below 1.2480-TG:1.2460/1.2430 SL 1.2510

INTRADAY OUTLOOK
Immediate Support: 117.31
Immediate Resistance: 117.89

RECOMMENDATION:
1. Buy USD/JPY Above 117.91-TG:118.11/118.41 SL 117.61
2. Sell USD/JPY Below 117.29-TG:117.09/116.79 SL 117.59

KLSE Gold Recommendations

INTERNATIONAL COMMODITY NEWS :
• Gold held mostly steady in early Asia on Thursday ahead of a holiday in the U.S. that will shut markets, but also marks the start of the year-end shopping season that is key for demand. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded down $1,198.00 a troy ounce, flat, after hitting an overnight session low of $1,194.70 and off a high of $1,201.50.

TRADING STRATEGY :
SELL GOLD BELOW 1191 TARGET 1181 1171 SL 1201
BUY GOLD ABOVE 1205 TARGET 1215 1225 SL 1195

S&P 500, Dow score record close ahead of Thanksgiving break

The S&P 500 and Dow Jones Industrial Average ended slightly higher on Wednesday, scoring their 47th and 30th record closes this year, respectively.

The S&P 500 SPX, +0.28%  closed 5.74 points, or 0.3%, higher at 2,072.77. The Dow Jones Industrial Average DJIA, +0.07%  added 12.81 points, or 0.1%, to 17,827.75.

Dollar index extends losses on weak U.S. data

The ICE U.S. Dollar Index extended its losses Wednesday after a stream of weak economic data released over the past two days implied that U.S. economic growth won’t be as strong in the fourth quarter as it was in the third.

The dollar index DXY, -0.04% a measure of its strength against a basket of six rival currencies, was down 0.32% on the day to 87.6290, it’s lowest level since last Thursday.

The euro EURUSD, +0.00% which is the most heavily-weighted of the dollar index’s components, traded at $1.2514, compared with $1.2477 Tuesday.

The dollar JPYUSD, +0.34%  traded at 117.71 yen, compared with ¥117.85 Tuesday.