KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.90 points to 1813.88.

Volume was 47.12 million lots worth RM27.7 million.

Gainers outnumbered losers 106 to 67.

Market Closing Update

MALAYSIA share prices closed lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.82 points to 1,815.86.

Volume was 1.7 billion lots worth RM1.9 billion.

Losers outnumbered gainers 427 to 379.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5474 during European morning trade, the session high; the pair subsequently consolidated at 1.5446. Investors remained cautious as Fed Chair Janet Yellen was to testify before the Senate Banking Committee in Washington later Tuesday, with market participants watching for any indication on when U.S. interest rates may start to rise.Last week’s minutes of the Fed’s January meeting were more dovish than expected, showing that some officials thought that raising rates too soon could weigh on the U.S. economic recovery, and that a deterioration in the global economic outlook could also pose a threat.The pound shrugged off a report by the Confederation of British Industry on Monday showing that its index of U.K. retailers plunged by 38.0 points to a 21-month low of 1.0 in February from 39.0 in January.




INTRADAY OUTLOOK
Support: 1.5401
Resistance: 1.5479

RECOMMENDATION:
1. Buy GBP/USD Above 1.5481-TG: 1.5501/1.5531 SL 1.5451
2. Sell GBP/USD Below 1.5399-TG: 1.5379/1.5349 SL 1.15429

INTRADAY OUTLOOK
Support: 1.1278
Resistance: 1.1350

RECOMMENDATION:
1. Buy EUR/USD Above 1.1352-TG: 1.1372/1.1402 SL 1.1322
2. Sell EUR/USD Below 1.1276-TG: 1.1256/1.1226 SL 1.1306

KLSE Stock Recommendations

MARKET UPDATES :

The FBM KLCI index gained 1.52 points or 0.08% on Monday. The Finance Index fell 0.25% to 15871.39 points, the Properties Index up 0.22% to 1323.1 points and the Plantation Index rose 0.26% to 8105.72 points. The market traded within a range of 7.80 points between an intra-day high of 1812.75 and a low of 1804.95 during the session.



STOCK RECOMMENDATION :

BUY FELDA GLOBAL AT 2.945 TARGET 3.000 3.100 SL 2.875

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices gained in Asia on Wednesday after better than expected HSBC China flash PMI data, but copper lagged as the gains were seen from domestic demand instead of exports. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 1.02% to trade at $1,209.50 a troy ounce. The HSBC China February flash manufacturing PMI jumped to 50.1, well above the expected drop to 49.5 and up from January’s final 49.7.”Domestic demand firmed while new export orders contracted for the first time since April 2014. Both input and output prices remain in contraction,” said Q Hongbin, Chief Economist, China and joint head of Asian economic research at HSBC.”Today’s data point to a marginal improvement in the Chinese manufacturing sector going into the Chinese New Year period in February. However, domestic economic activity is likely to remain sluggish and external demand looks uncertain. We believe more policy easing is still warranted at the current stage to support growth.”



TRADING STRATEGY :

BUY GOLD ABOVE 1211.25 TARGET 1216.25 1222.25 SL 1205.25
SELL GOLD BELOW 1201.25 TARGET 1196.25 1190.25 SL 1207.25