Asian Market Update

Asian stocks were mixed in lacklustre trade Thursday, while oil prices extended their losses ahead of a pivotal OPEC meeting expected to maintain the cartel's production levels despite a huge glut.

Tokyo stocks were down 0.29 per cent by the morning break as the yen gained ground against the dollar in subdued trade ahead of the Thanksgiving holiday, which will see US markets closed Thursday and open for shortened trade on Friday.

Hong Kong gained 0.45 per cent at the opening bell, Sydney edged up 0.2 per cent and Shanghai rose 0.53 per cent. Seoul was up 0.46 per cent.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 4.41 points to 1838.20.

Volume was 24.06 million lots worth RM9.19 million.

Losers outnumbered gainers 70 to 63.

Market Closing Update

MALAYSIAN shares ended higher on Wednesday with the Kuala Lumpur Composite Index adding 3.61 points to close at 1,842.17.

Some 1.73 billion lots, valued at RM1.47 billion were traded. Gainers numbered 321 while losers numbered 452.

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.25% at 1.2472, up from a session low of 1.2403 and off a high of 1.2486. The pair was likely to find support at 1.2372, Monday’s low, and resistance at 1.2600, last Wednesday’s high.The euro firmed against the dollar on Tuesday after a poor U.S. consumer confidence report offset upbeat economic growth data and sent investors selling the greenback for profits.The Conference Board market research group reported earlier that consumer confidence index fell to 88.7 this month from a 94.1 in October, whose figure was revised down from a previously reported 94.5. The dollar has rallied in recent weeks on expectations for U.S. monetary policy to grow less accommodative while European and Asian central banks move in the opposite direction.


INTRADAY OUTLOOK
Support: 1.2440
Resistance: 1.2505

RECOMMENDATION:
1. Buy EUR/USD Above 1.2507-TG:1.2527/1.2557 SL 1.2477
2. Sell EUR/USD Below 1.2438-TG:1.2418/1.2388 SL 1.2468

INTRADAY OUTLOOK
Immediate Support: 117.64
Immediate Resistance: 118.11

RECOMMENDATION:
1. Buy USD/JPY Above 118.13-TG:118.33/118.63 SL 117.83
2. Sell USD/JPY Below 117.62-TG:117.42/117.12 SL 117.92

KLSE Stock Recommendations

MARKET UPDATES :

Malaysia’s budget deficit could fall below 3 percent of gross domestic product in 2015, the International Monetary Fund said on Monday after it concluded a mission to the Southeast Asian nation. Malaysia narrowed the fiscal deficit to 3.9 percent of GDP in 2013, and Prime Minister Najib Razak wants to further trim the gap to 3.5 percent this year and 3 percent in 2015, heading toward a balanced budget by 2020.



STOCK RECOMMENDATION :

BUY SAPURA KENCANA ABOVE 3.270 TGT 3.310 ,3.370 SL 3.210