KLSE Malaysia Opening Market Update

MALAYSIA share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 6.33 points to 1734.61.

Volume was 39.14 million lots worth RM21.6 million.

Gainers outnumbered losers 160 to 33.

Market Closing Update

MALAYSIAN shares ended higher on Thursday with the Kuala Lumpur Composite Index adding 18.88 points to close at 1,728.06.

Some 1.6 billion lots, valued at RM1.84 billion were traded. Gainers numbered 555 while losers numbered 240.

KLSE IForex Recommendations

TRADING TIPS :

USD/JPY up 0.54% to 119.08.Modest gains in Asian equity markets overnight dampened demand for the safe haven yen as investor sentiment recovered following a selloff earlier in the week.The U.S. dollar index, which measures the greenback against a basket of six major currencies, hit nine-year highs of 92.14 and was last at 91.97, supported by weakness in the euro.The Federal Reserve was to publish the minutes of its latest policy meeting later Wednesday, which were expected to provide further indications on the future direction of monetary policy.

INTRADAY OUTLOOK
Support: 118.55
Resistance: 119.37

RECOMMENDATION:
1. Buy USD/JPY Above 119.40-TG: 119.60/119.90 SL 119.10
2. Sell USD/JPY Below 118.53-TG: 118.33/118.03 SL 118.83

INTRADAY OUTLOOK
Immediate Support: 1.1818

Immediate Resistance: 1.1876
RECOMMENDATION:
1. Buy EUR/USD Above -1.1878 TG: 1.1898/1.1928 SL 1.1848
2. Sell EUR/USD Below -1.1815 TG:1.1795/1.1765 SL 1.1845

KLSE Stock Recommendations

MARKET UPDATES :

Hong Leong Investment Bank Research (HLIB Research) has recommended a ‘buy’ call on Tenaga Nasional Bhd (TNB) at a higher target price of RM16. HLIB Research said it has maintained ‘overweight’ call on power sector and upgraded its target price on TNB shares from RM15 to RM16, based on a discounted cash flow to equity valuation, after rolled-forward its valuation up to financial year 2016. “We maintained our ‘overweight’ call on the power sector as the government continued to push through industry transformation and transparency. “



STOCK RECOMMENDATION :

BUY YTL CORP ABOVE 1.620 TARGET 1.660 1.710 SL 1.580

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased mildly in Asia on Wednesday as investors continued to eye Greece in the euro zone and await upcoming Federal Reserve minutes for hints on the timing of an interest rate hike widely expected this year.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.11% to $1,217.30 on Wednesday in early Asia.Overnight, gold futures were up for the third consecutive session on Tuesday, as safe-haven demand was boosted amid growing fears that Greece might exit the euro zone.

TRADING STRATEGY :

BUY GOLD ABOVE 1223.5 TARGET 1228.5 1234.5 SL 1217.5
SELL GOLD BELOW 1212 TARGET 1207 1201 SL 1218