KLSE Malaysia Opening Market Update

MALAYSIA share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 2.81 points to 1747.38.

Volume was 66.02 million lots worth RM45.06 million.

Losers outnumbered gainers 119 to 103.

Market Closing Update

MALAYSIAN shares ended lower on Thursday with the Kuala Lumpur Composite Index slipping 20.95 points to close at 1,744.57.

Some 1.27 billion lots, valued at RM1.50 billion were traded. Gainers numbered 178 while losers numbered 626.

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

• Gold prices rose slightly in early Asia on Thursday with the focus on next week’s Federal Reserve meeting for signals on interest rates. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,227.50 a troy ounce, up 0.05%, after hitting an overnight session low of $1,225.70 and off a high of $1,238.90. Overnight, gold futures held steady on Wednesday after the dollar cooled its rally due to profit taking amid safe-haven demand for the yen, though uncertainty in Europe sent the yellow metal dipping into negative territory during afternoon trading on concerns the dollar may rise in the near future.

TRADING STRATEGY :

SELL GOLD BELOW 1223.5 TARGET 1218.5 1212.5 SL 1229.5
BUY GOLD ABOVE 1233 TARGET 1238 1244 SL 1227

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD held steady at 1.2379, as investors remained cautious following a surprise decision by the Greek government to bring forward a parliamentary vote for president to next week from February.Markets were spooked by the risk of snap elections which could take place if Prime Minister Antonis Samaras’ candidate is not approved by parliament, which could see the anti-bailout Syriza party take power.The decision prompted the stock market in Athens to plummet 9.5% on Tuesday, the largest one day decline in over 20 years. The Greek stock market suffered fresh falls on Wednesday and the yield on Greece’s 10-year bond rose to 8.55% from 8.12% late Tuesday.


INTRADAY OUTLOOK
Support: 1.2353
Resistance: 1.2399

RECOMMENDATION:
1. Buy EUR/USD Above 1.2401-TG:1.2421/1.2451 SL 1.2371
2. Sell EUR/USD Below 1.2350-TG:1.2330/1.2300 SL 1.2380

INTRADAY OUTLOOK
Immediate Support: 119.10
Immediate Resistance: 119.64

RECOMMENDATION:
1. Buy USD/JPY Above 119.66-TG:119.86/120.16 SL 119.36
2. Sell USD/JPY Below 119.08-TG:118.88/118.58 SL 119.38

KLSE Stock Recommendations

MARKET UPDATES :

Maybank has been recognised for the second consecutive year, as the only Malaysian-founded organisation to be listed in the Towers Watson Global High Performing Company Norm.Maybank is placed alongside 26 other globally recognised companies in the internationally acclaimed benchmark for high performing organisations. Organisations are evaluated based on two criteria, namely, superior financial performance, defined by a net profit margin and/or return on invested capital that exceeds industry averages and superior human resource practices, defined by employee opinion scores near the top among the most financially successful companies surveyed by Towers Watson.



STOCK RECOMMENDATION :

BUY PETRONAS CHEM ABOVE 5.330 TARGET 5.360 5.410 SL 5.290