KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.35 points to 1767.74.

Volume was 47.54 million lots worth RM16.24 million.

Gainers outnumbered losers 121 to 42.

Market Closing Update

MALAYSIAN shares ended higher on Wednesday with the Kuala Lumpur Composite Index adding 19.98 points to close at 1,770.09.

Some 2.16 billion lots, valued at RM2.45 billion were traded. Gainers numbered 559 while losers numbered 287.

KLSE IForex Recommendations

TRADING TIPS :
GBP/USD hit 1.5144 during European morning trade, the pair’s lowest since January 8; the pair subsequently consolidated at 0.7656, rising 0.28%.Cable was likely to find support at 1.5032, the low of January 8 and an 18- month low and resistance at 1.5236, the high of January 16.The dollar remained broadly supported after the Swiss National Bank shocked markets last Thursday by abandoning its three-year old 1.20 per euro exchange rate cap. Meanwhile, sentiment on the pound remained vulnerable after data last week showed that the annual rate of consumer inflation in the U.K. slowed to 0.5% last month from 1.0% in November. The slowdown in inflation underlined expectations that the Bank of England will keep interest rates on hold at record lows for most of this year.

INTRADAY OUTLOOK
Support: 1.5117
Resistance: 1.5172

RECOMMENDATION:
1. Buy GBP/USD Above 1.5175-TG: 1.5195/1.5225 SL 1.5145
2. Sell GBP/USD Below 1.5114-TG: 1.5094/1.5064 SL 1.5144

INTRADAY OUTLOOK
Immediate Support: 1.1566
Immediate Resistance: 1.1620

RECOMMENDATION:
1. Buy EUR/USD Above -1.1622 TG: 1.1642/1.1672 SL 1.1592

2. Sell EUR/USD Below -1.1564 TG:1.1544/1.1514 SL 1.1594 

Dollar rises against rivals on central-bank expectations

 Monetary-policy expectations were the dominant drivers of the foreign-exchange market Tuesday, as traders sold euros, yen and Canadian dollars and bought the greenback ahead of central-bank meetings in Canada, Japan and Europe later in the week.

The dollar USDJPY, -0.80%  traded at ¥118.7710 in recent trade, its highest level against the yen in a week, down from ¥117.81 Monday afternoon.

The U.S. dollar USDCAD, -0.11%  traded as high as 1.2115 Canadian dollars, compared with 1.20 Canadian Monday.

The euro EURUSD, +0.23%  traded at $1.1554, compared with $1.16 Monday afternoon. It hit an 11-year low around $1.1480 Monday.

The Swiss franc traded slightly higher against both of its major rivals. It was at EURCHF, -0.64%   1.0107 francs per euro, compared with 1.02 Monday afternoon. One dollar bought USDCHF, -0.88% 0.8775 francs, compared with 0.88 francs Monday.

The ICE U.S. Dollar Index DXY, -0.21% a measure of the dollar’s strength against a trade-weighted basket of six rival currencies, was up 0.52% on the day to 93.0000.

KLSE Stock Recommendations

MARKET UPDATES :

The International Monetary Fund has cut its growth projections for emerging and developing Asian economies, including Malaysia.In its latest World Economic Outlook, it said the Asean 5 – Indonesia, Malaysia, the Philippines, Thailand and Vietnam — will likely grow by 4.5 per cent in 2014 ( a 0.2 per cent cut from its previous outlook) and 5.2 per cent in 2015 ( a 0.1 per cent cut from previous outlook) .These five countries are projected to grow by 5.3 per cent in 2016.In its latest outlook versus the previous one in October, the Fund said the growth is projected to remain broadly stable at 4.3 percent in 2015 and to increase to 4.7 per cent in 2016 — a weaker pace than the October forecast.

STOCK RECOMMENDATION :

BUY HAP SENG CONS ABOVE 3.860 TARGET 3.900 3.960 SL 3.800