Some 2.12 billion lots, valued at RM3.14 billion were traded. Gainers numbered 325 while losers numbered 471.
Market Closing Update
Friday, 20 March 2015
Some 2.12 billion lots, valued at RM3.14 billion were traded. Gainers numbered 325 while losers numbered 471.
KLSE Stock Recommendations
MARKET UPDATES :
The FBM KLCI index gained 9.70 points or 0.54% on Wednesday. The Finance Index fell 0.05% to 15905.19 points, the Properties Index up 0.00% to 1300.85 points and the Plantation Index rose 0.05% to 7732.84 points. The market traded within a range of 13.06 points between an intra-day high of 1800.83 and a low of 1787.77 during the session.
The FBM KLCI index gained 9.70 points or 0.54% on Wednesday. The Finance Index fell 0.05% to 15905.19 points, the Properties Index up 0.00% to 1300.85 points and the Plantation Index rose 0.05% to 7732.84 points. The market traded within a range of 13.06 points between an intra-day high of 1800.83 and a low of 1787.77 during the session.
STOCK RECOMMENDATION :
BUY WELLCALL HLDNG AT 1.990 – 1.995 TARGET 2.050 2.150 SL 1.900
KLSE Comex Recommendations
INTERNATIONAL COMMODITY NEWS :
Brent prices rebounded towards $55 a barrel on Friday as the dollar weakened, but gains were limited by supply concerns after Kuwait said OPEC had no choice but to maintain output levels. High inventory in the United States, the world’s largest oil consumer, also dragged on prices. Brent crude for May delivery had risen 16 cents to $54.59 a barrel by 0220 GMT. The contract is flat for the week, after falling in the two previous weeks.
TRADING STRATEGY :
BUY GOLD ABOVE 1174 TARGET 1179 1185 SL 1168
SELL GOLD BELOW 1166 TARGET 1161 1155 SL 1172
Brent prices rebounded towards $55 a barrel on Friday as the dollar weakened, but gains were limited by supply concerns after Kuwait said OPEC had no choice but to maintain output levels. High inventory in the United States, the world’s largest oil consumer, also dragged on prices. Brent crude for May delivery had risen 16 cents to $54.59 a barrel by 0220 GMT. The contract is flat for the week, after falling in the two previous weeks.
TRADING STRATEGY :
BUY GOLD ABOVE 1174 TARGET 1179 1185 SL 1168
SELL GOLD BELOW 1166 TARGET 1161 1155 SL 1172
Dollar stages rebound after Wednesday rout
The dollar recovered against its rivals Thursday after an unexpectedly dovish statement from Federal Reserve policy makers triggered the largest intraday selloff in the buck since 2009.
The euro EURUSD, +0.23% traded at $1.0653, compared with $1.0831 at Wednesday’s close. The single currency briefly climbed above $1.10 after the close of the Fed’s news conference, its highest intraday level in two weeks.
The U.S. Dollar index DXY, -0.18% a measure of the dollar’s strength against six rival currencies, fell 3.6% intraday on Wednesday, its largest move since a 3.7% decline in March 2009. The index bounced back to 98.0760, up 0.5% on the day.
The dollar USDJPY, -0.04% on Thursday fetched ¥120.81 compared with ¥120.09 late Wednesday.
Silver Market Update
May silver SIK5, -0.02% rallied 57.3 cents, or 3.7%, to end at $16.114 an ounce, which was also a two-week high.
April platinum PLJ5, +0.23% rose $27, or 2.5%, to end at $1,119.60 an ounce.
June palladium PAM5, +0.37% rose $1.15, or 0.2%, to $765.80 an ounce.
May copper HGK5, -0.23% jumped nearly 9 cents, or 3.5%, to $2.66 a pound after posting losses over the past two sessions.
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