KLSE Stock Recommendations

MARKET UPDATES :

Bursa Malaysia has issued a new framework for the opening of trading and securities accounts for both retail investors and corporate clients. In a statement, it said the framework provides greater flexibility to Participating Organisations (POs) of Bursa Securities and Authorised Depository Agents of Bursa Depository (ADAs) in opening accounts. POs and ADAs are now able to allow individual investors to open the accounts through electronic mediums, it added. The amendments to the rules for this new framework has been approved by the Securities Commission and is effective Jan 15, 2015.



STOCK RECOMMENDATION :

BUY BONIA CORP ABOVE 0.900 TARGET 0.940 0.990 SL 0.860

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD slipped 0.18% to trade near two-year lows at 1.2264 even as data earlier showed that the Gfk German consumer climate index rose to a six-month high of 9.0 in December from a reading of 8.7 the previous month. Analysts had expected the index to tick up to 8.9 this month. The dollar enjoyed support after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending Dec 12 fell by 6,000 to 289,000 from the previous week’s revised total of 295,000. Economist had forecast an increase of 1,000.The data came a day after the Fed said it would be “patient” before raising rates, guidance which it said is consistent with earlier assurances statement that rates would stay low “for a considerable time.

INTRADAY OUTLOOK
Support: 1.2191
Resistance: 1.2241

RECOMMENDATION:
1. Buy EUR/USD Above 1.2143-TG:1.2263/1.2293 SL 1.2113
2. Sell EUR/USD Below 1.2189-TG:1.2169/1.2139 SL 1.2219

INTRADAY OUTLOOK
Immediate Support: 1.5584
Immediate Resistance: 1.5647

RECOMMENDATION:
1. Buy GBP/USD Above 1.5650-TG:1.5670/1.5700 SL 1.5620
2. Sell GBP/USD Below 1.5582-TG:1.5562/1.5532 SL 1.5612

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased mildly in early Asia on Monday in thin pre-holiday trade. Investors looked ahead to year-end holiday demand prospects and U.S. GDP data on Tuesday for direction. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,194.90 a troy ounce, down 0.07%.Last week, gold futures came off earlier lows and moved into positive territory on Friday after investors felt the commodity had fallen too far amid a dollar rally. Gold prices have tumbled in recent months as markets prep for the Fed to raise interest rates, which is widely seen taking place in 2015, as higher borrowing costs chip away at the precious metal’s appeal as a hedge to weaker paper currencies, the product of loose monetary policy.



TRADING STRATEGY :
BUY GOLD ABOVE 1200 TARGET 1205 1211 SL 1194
SELL GOLD BELOW 1192.5 TARGET 1187.5 1181.5 SL 1198.5

Asian Market Update

Asian markets rose in thin trade Monday ahead of the festive season, tracking cues from Wall Street where stocks surged in a Federal Reserve-fuelled "Santa Claus rally" last week.

Sydney surged 1.49 per cent, Hong Kong gained 1.18 per cent, Shanghai climbed 1.26 per cent and Seoul added 0.28 per cent.

Tokyo was flat by the break after the Bank of Japan gave a more upbeat view of the world's number three economy on Friday, saying exports were showing signs of picking up while factory output has started to "bottom out".

Trading is expected to be thin this week at the start of the holiday season, with many traders away for Christmas and New Year celebrations.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened higher on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 7.64 points to 1723.87.

Volume was 21.53 million lots worth RM8.78 million.

Gainers outnumbered losers 101 to 21.