KLSE Stock Recommendations

MARKET UPDATES :

Axiata Group Bhd’s shares on the Bursa Malaysia rose, in early trading this morning, riding high on the positive outlook for its 92 per cent Bangladesh subsidiary, Robi. As at 10.02 am, the counter added four sen to RM6.99 with 230,400 shares changing hands, after opening one sen higher at RM6.96.In a research note today, Maybank Investment Bank (MaybankIB) said Robi’s contribution to Axiata has been growing.“By our estimates, Robi would account for around 6.0 per cent of Axiata’s net profit in 2014. Robi accounts for 20 sen of our Axiata RM7.80 target price.



STOCK RECOMMENDATION :

BUY BUMI ARMADA ABOVE 1.210 TARGET 1.250 1.300 SL 1.170

KLSE IForex Recommendations

TRADING TIPS :

 GBP/USD hit 1.5150 during European morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.5134, gaining 0.30%.In a report, the U.K. Office for National Statistics said that manu- facturing production rose 0.7% in November, beating expectations for a 0.3% gain, after a 0.7% fall the previous month.On the other hand, U.K. industrial production ticked down 0.1% in November, data showed on Friday, confounding expectations for an increase of 0.2%. October’s figure was revised to a 0.3% slip from a previously estimated 0.1% fall.A separate report showed that the U.K. trade deficit narrowed to £8.85 billion in November from £9.84 billon in October, whose figure was revised from a previously estimated deficit of £9.62 billion. Analysts had expected the trade deficit to narrow to £9.40 billion in November.

INTRADAY OUTLOOK
Support: 1.5111
Resistance: 1.5185

RECOMMENDATION:
1. Buy GBP/USD Above 1.5187-TG: 1.5207/1.5237 SL 1.5157
2. Sell GBP/USD Below 1.5109-TG: 1.5089/1.5059 SL 1.5139

INTRADAY OUTLOOK
Immediate Support: 1.1805
Immediate Resistance: 1.1866

RECOMMENDATION:
1. Buy EUR/USD Above -1.1868 TG: 1.1888/1.1918 SL 1.1838
2. Sell EUR/USD Below -1.1802 TG:1.1782/1.1752 SL 1.1832

Palladium Market Update

Palladium for March delivery PAH5, +0.15% rose $1.70 to $801.85 an ounce, while April platinum PLJ5, +0.28%  gained $3.60 to $1,233.70 an ounce.

High-grade copper for March delivery HGH5, -0.18%  held steady at $2.75 a pound.

Gold prices build on last week’s momentum

Gold prices rallied on Monday, adding on to last week’s 2.5% advance as the volatility that has gripped the stock markets showed no sign of calming.

By midday in East Asia, gold for February delivery GCG5, +0.82%  was higher by $10.60, or 0.9%, at $1,226.70 an ounce, while March silver SIH5, +1.01% climbed 16 cents, or 1%, to $16.58 an ounce

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) closed for holiday 

 Hong Kong (Hang Seng Index) up 0.1% (at break) 

 Shanghai (Shanghai Composite Index) down 2.1% (at break) 

 Sydney (S&P/ASX 200) down 0.8% 

 Seoul (Kospi) down 0.3% 

 Mumbai (Sensex) down 0.1% 

 Taipei (Taiex) down 0.2%