KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 9.62 points to 1820.57.

Volume was 44.13 million lots worth RM19.28 million.

Losers outnumbered gainers 105 to 52.

Market Closing Update

MALAYSIAN shares ended lower on Thursday with the Kuala Lumpur Composite Index slipping 12.26 points to close at 1,829.91.

Some 1.55 billion lots, valued at RM1.36 billion were traded. Gainers numbered 252 while losers numbered 567.

KLSE Stock Recommendations

MARKET UPDATES :

Cahya Mata Sarawak Bhd’s pre-tax profit for the third quarter ended September 30, 2014 soared to RM104.18 million from RM62.53 million in the same period last year. Revenue grew to RM413.07 million from RM335.4 million previously. In a filing to Bursa Malaysia, the infrastructure facilitator attributed the solid performance to its cement, construction and road maintenance, construction materials and trading divisions. Group managing director, Datuk Richard Curtis, said the company was one of the best proxy-listed investments for Sarawak’s accelerating economic growth.



STOCK RECOMMENDATION :

BUY YTL CORP ABOVE 1.590 TG 1.630 1.710 SL 1.510

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KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.28% at 1.2509, up from a session low of 1.2444 and off a high of 1.2531. 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 Wednesday after a mixed bag of U.S. data left investors questioning the strength of U.S. recovery and the timing of Federal Reserve rate hikes next year. It was the highest level since early September, confounding market calls for a decrease of 5,000.Finally, data showed that sales of new homes rose 0.7% in October to an annual rate of 458,000 units, but pending home sales unexpectedly fell 1.1% last month.Elsewhere, the euro was down against the pound.


INTRADAY OUTLOOK
Support: 1.2483
Resistance: 1.2530

RECOMMENDATION:
1. Buy EUR/USD Above 1.2532-TG:1.2552/1.2582 SL 1.2502
2. Sell EUR/USD Below 1.2480-TG:1.2460/1.2430 SL 1.2510

INTRADAY OUTLOOK
Immediate Support: 117.31
Immediate Resistance: 117.89

RECOMMENDATION:
1. Buy USD/JPY Above 117.91-TG:118.11/118.41 SL 117.61
2. Sell USD/JPY Below 117.29-TG:117.09/116.79 SL 117.59

KLSE Gold Recommendations

INTERNATIONAL COMMODITY NEWS :
• Gold held mostly steady in early Asia on Thursday ahead of a holiday in the U.S. that will shut markets, but also marks the start of the year-end shopping season that is key for demand. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded down $1,198.00 a troy ounce, flat, after hitting an overnight session low of $1,194.70 and off a high of $1,201.50.

TRADING STRATEGY :
SELL GOLD BELOW 1191 TARGET 1181 1171 SL 1201
BUY GOLD ABOVE 1205 TARGET 1215 1225 SL 1195