KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 5.14 points to 1817.15.

Volume was 46.09 million lots worth RM13.76 million.

Gainers outnumbered losers 91 to 59.

AirAsia Market News Update

Shares of AirAsia Bhd (5099.KU), Southeast Asia's largest discount carrier by fleet, Thursday fell to its lowest level in three weeks after reporting a 85% fall in third-quarter net profit.

The stock opened 2.0% lower at 2.41 ringgit a share ($0.72) and hit a low of 2.38 ringgit, its lowest since Oct. 30, in early trade on the Malaysian stock exchange. AirAsia was traded at 2.39 ringgit at 0130 GMT, valuing the company at about 6.6 billion ringgit.

AirAsia's July-September net profit fell to 5.4 million ringgit from 35.5 million ringgit a year earlier as borrowing costs surged 25% and the budget airline incurred a deferred tax of 10.5 million ringgit. Operating cost also increased. Revenue however rose 3.1% to 1.32 billion ringgit from 1.28 billion ringgit a year earlier, aided by an increase in passengers.

KLSE Stock Recommendations

MARKET UPDATES :

Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) hopes to clinch at least RM5.0 billion investment next year bolstered by its three strongest segments — agriculture, industrial and pharmaceuticals. Chief executive officer, Datuk Dr Mohd Nazlee Kamal said although Malaysia was competing with regional countries in securing biotechnology-based investment, he was confident of achieving the target given the country’s competitive edge in business strategy, coordination and supporting mechanism.



STOCK RECOMMENDATION :

BUY FELDA GLOBAL ABOVE 3.450 TGT 3.490 , 3.550 SL 3.390

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.06% at 1.2541.Monetary authorities largely agree that the economy was improving and no longer needed stimulus tools such as asset purchases, though concerns persisted that inflation expectations may be dipping, the minutes of the Federal Reserve’s October policy meeting released Wednesday revealed. At its October monetary policy meeting, the Fed left its benchmark interest rate unchanged at 0.00-0.25% and said it was closing its monthly bond-buying program in a move widely expected by markets.While the economy is improving, some monetary authorities want to be sure recovery remains sustained before raising interest rates, which is seen taking place in 2015, with a few voting members expressing concerns that inflationary pressures remain soft.


INTRADAY OUTLOOK
Support: 1.2502
Resistance: 1.2561

RECOMMENDATION:
1. Buy EUR/USD Above 1.2563-TG:1.2583/1.2613 SL 1.2533
2. Sell EUR/USD Below 1.2500-TG:1.2480/1.2450 SL 1.2530

INTRADAY OUTLOOK
Immediate Support: 117.86
Immediate Resistance: 118.33

RECOMMENDATION:
1. Buy USD/JPY Above 118.35-TG:118.55/118.85 SL 118.05
2. Sell USD/JPY Below 117.84-TG:117.64/117.34 SL 118.14

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

 Gold prices fell in U.S. trading on Wednesday as investors bet the Federal Reserve remains on track to raise interest rates some time in 2015, as only the timing of a move to tighten policy is still up in the air. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.96% at $1,185.60, up from a session low of $1,174.90 and off a high of $1,201.70. The December contract settled up 1.15% at $1,197.10 on Tuesday.

TRADING STRATEGY :
BUY GOLD ABOVE 1185 TGT 1189,1195 SL 1180
SELL GOLD BELOW 1175 TGT 1171,1165 SL 1180