Market Closing Update

MALAYSIAN shares closed higher on Thursday with the Kuala Lumpur Composite Index gaining 0.19 points to 1,803.21. Some 1.6 billion lots, valued at RM2.1 billion were traded. Losers outnumbered gainers 433 to 344.

Forex Market Update

The euro remained weak against rival currencies during the Asian session Thursday, weighed down by renewed risk aversion stemming from the European Central Bank’s tougher stance on Greece.

The euro EURUSD, +0.27%  hit as low as $1.1304 -- close to its 11-year low -- before stabilizing at $1.1354 around 0540 GMT. That was weaker than $1.1391 late Wednesday in New York.

The common currency EURJPY, +0.29%  also fell as low as ¥132.57 before bouncing back to ¥133.18. That compares with ¥133.56 late in New York.

 The dollar USDJPY, +0.02%  hit as low as ¥117.02 earlier in the session and then recovered to ¥117.28. That compares with ¥117.30 late Wednesday in New York. 

The WSJ Dollar Index BUXX, -0.19% a measure of the dollar against a basket of major currencies, was down 0.08% at 85.47.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5192 during European morning trade, the session high; the pair subsequently consolidated at 1.5162.Data showed that the Markit/CIPS Services Purchasing Managers Index increased to 57.2 last month from a reading of 55.8 in December. Analysts had expected the index to rise to 56.3 in January.Commenting on the report, Chris Williamson, Chief Economist at survey compilers Markit said, “The January PMI surveys signalled a reassuringly robust start to the year for the UK economy, indicating a quarterly rate of GDP growth just over 0.5%.”The report came one day after Markit and the Chartered Institute of Purchasing & Supply said that their U.K. construction PMI increased to 59.1 last month from a reading of 57.6 in December.



INTRADAY OUTLOOK
Support: 1.5136
Resistance: 1.5225

RECOMMENDATION:
1. Buy GBP/USD Above 1.5227-TG: 1.5257/1.5287 SL 1.5197
2. Sell GBP/USD Below 1.5134-TG: 1.5114/1.5084 SL 1.5164

INTRADAY OUTLOOK
Immediate Support: 1.1418
Immediate Resistance: 1.1492

RECOMMENDATION:
1. Buy EUR/USD Above -1.1494 TG: 1.1514/1.1544 SL 1.1464
2. Sell EUR/USD Below -1.1416 TG:1.1396/1.1366 SL 1.1446

KLSE Stock Recommendations

MARKET UPDATES :

MALAYSIA share prices closed higher on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 21.76 points to 1,803.02. Volume was 2.5 billion lots worth RM2.7 billion. Gainers outnumbered losers 467 to 399.



STOCK RECOMMENDATION :

BUY TA ANN HOLDING ABOVE 3.895 TARGET 3.935 3.985 SL 3.845

Copper Market Update

High-grade copper for March delivery HGH5, -0.41%  rose about a penny to $2.59 a pound.

 March silver SIH5, +0.26% rose more than 7 cents, or 0.4%, to end at $17.395 an ounce.