KLSE IForex Recommendations

TRADING TIPS :

USD/JPY hit 112.99 during late Asian trade, the pair’s highest since November 2007; the pair subsequently consolidated at 112.66, rising 0.33%.The pair was likely to find support at 109.15, Friday’s low and resistance at 114.65.The yen came under broad selling pressure on Friday after the BOJ said it would raise its monetary base target to an annual increase of ¥80 trillion from ¥60-70 trillion yen in order to increase the chances of approaching its inflation goal.Meanwhile, demand for the dollar remained supported after the University of Michigan reported on Friday that its consumer sentiment index rose to a seven-year high of 86.9 this month from 86.4 in September.

INTRADAY OUTLOOK
Support:113.23
Resistance: 113.79

RECOMMENDATION:
1. Buy USD/JPY Above 113.81-TG:114.01/114.31 SL 113.51
2. Sell USD/JPY Below 113.20-TG:113.00/112.70 SL 113.50


INTRADAY OUTLOOK
Immediate Support: 1.5982
Immediate Resistance: 1.6025

RECOMMENDATION:
1. Buy GBP/USD Above 1.6027-TG:1.6047/1.6077 SL 1.5997
2. Sell GBP/USD Below 1.5980-TG:1.5960/1.5930 SL 1.6010

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices held steady in Asia on Tuesday on last-minute holiday-related demand, though dollar strength continues to weigh. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $,166.30 a barrel, up 0 07%, after hitting an overnight session low of $1,161.30 and off a high of $1,173.30. Overnight, gold prices edged lower on Monday after upbeat U.S. manufacturing data fueled demand for the dollar, which tends to trade inversely from the yellow metal. Elsewhere, the Bank of Japan’s Friday decision to expand its stimulus programs also fueled dollar demand.



TRADING STRATEGY :

BUY GOLD ABOVE 1170 TGT 1174,1179 SL 1165
SELL GOLD BELOW 1163 TGT 1159,1154 SL 1168

KLSE Stock Recommendations

MARKET UPDATES :

Bursa Malaysia ended lower today with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closing 1.81 points or 0.10 per cent easier at 1,853.34, as profit-taking activity emerged among heavyweight stocks. On the broader market, losers outpaced gainers by 448 to 421, with 290 counters unchanged, 480 counters untraded and 11 others suspended. Total volume dwindled to 1.86 billion shares worth RM1.89 billion from 2.75 billion shares worth RM2.40 billion last Friday.

STOCK RECOMMENDATION :
BUY FELDA GLOBAL 3.60 TGT 3.70,3.90 SL 3.45

Current Market Update

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

Tokyo (Nikkei Average) up 3.5%

Hong Kong (Hang Seng Index) up 0.2%

Shanghai (Shanghai Composite Index) flat (at break)

Sydney (S&P/ASX 200) up 0.4%

Seoul (Kospi) down 0.9%

Mumbai (Sensex) closed for holiday Taipei (Taiex) down 0.2%

Asian Market Update

Asian stocks dipped in early trade on Tuesday with disappointing Chinese data and a Wall Street slip dampening the mood, although Japan bucked the trend and rose sharply on follow-through momentum generated the Bank of Japan's surprise monetary easing last week.

The dollar was firmly on the front foot, hovering at multi-year highs against the yen and euro, after the BOJ's easing on Friday added pressure on the European Central Bank to follow suit.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.15 per cent. Wall Street closed on slight losses on Monday, taking a breather from a recent rally.