KLSE Stock Recommendations

MARKET UPDATES :

Number forecast operator Magnum Bhd’s earnings fell 29.8% to RM45.42mil in the third quarter ended Sept 30, 2014 from RM64.77mil a year ago due to losses incurred by its investment holdings segment, mainly attributed to fair value losses of quoted investments. It said on Thursday its pre-tax profit fell 3.2% to RM74.72mil from RM77.12mil. Revenue fell 4.6% to RM669.98mil from RM702.39mil. Earnings per share were 3.2 sen compared with 4.6 sen. It rewarded shareholders with a dividend of 5 sen per share.



STOCK RECOMMENDATION :

BUY KLCC PROP ABOVE 6.890 TARGET 6.940 7.000 SL 6.810

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was down 0.22% to 1.2478, off session highs of 1.2522. The euro was slightly lower against the dollar on Thursday after data showed that the annual rate of inflation in Germany slowed to almost a five year low this month, fuelling concerns over the risk of deflation in the euro area.Germany’s consumer price index rose just 0.6% this month, data on Thursday showed, down from 0.8% in October. On a month-over-month basis, prices were flat. Investors were looking ahead to preliminary data on euro zone inflation due to be released on Friday. The annual rate of inflation in the euro zone fell to 0.4% in October, well below the ECB’s target of close to but just under 2%.

INTRADAY OUTLOOK
Support: 1.2437
Resistance: 1.2492

RECOMMENDATION:
1. Buy EUR/USD Above 1.2495-TG:1.2515/1.2545 SL 1.2465
2. Sell EUR/USD Below 1.2430-TG:1.2410/1.2380 SL 1.2460

INTRADAY OUTLOOK
Immediate Support: 117.95
Immediate Resistance: 118.65

RECOMMENDATION:
1. Buy USD/JPY Above 118.67-TG:118.87/119.13 SL 118.37
2. Sell USD/JPY Below 117.92-TG:117.72/117.42 SL 118.28

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in early Asian trade on Friday with investors focused on demand cues from Switzerland and year-end holiday sales. On the Comex division of the New York Mercantile Exchange,gold future for February delivery traded at $1,189.50 a troy ounce, down 0.06%. Overnight, gold prices inched lower on Thursday, as trading conditions remained thin with markets in the U.S. closed for the Thanksgiving Day holiday.

TRADING STRATEGY :

SELL GOLD BELOW 1180 TARGET 1170 1160 SL 1190
BUY GOLD ABOVE 1193 TARGET 1203 1213 SL 1183

Ruble, loonie driven lower after OPEC keeps output target

The currencies of Russia, Norway and Canada dropped against the U.S. dollar, with the oil-producing countries feeling the weight of a decision by the Organization of the Petroleum Exporting Countries not to cut its production target.

The dollar fetched 6.939 Norwegian krone USDNOK, +0.32% up from 5.979 krone on Wednesday. “Norway derives nearly 70% of its exports from crude oil and petroleum products, representing 20% of GDP, so changes in the price of oil have a massive impact on the nordic nation’s economy,” said Forex.com in a note earlier this month.

The greenback after the OPEC statement bought 1.134 Canadian dollars USDCAD, +0.14%  from 1.124 Canadian dollars in the previous session.

Meanwhile, the euro EURUSD, -0.15%  was at $1.2477, down from $1.2509 on Wednesday, and the pound GBPUSD, -0.17%  bought $1.5724, less than $1.5792 in the previous session. The dollar traded at 117.73 Japanese yen USDJPY, +0.45% little changed from ¥117.74.

The dollar index DXY, +0.14% a measure of its strength against a basket of six rival currencies, rose 0.3% to 87.992.

Gasoline Market Update

Gasoline RBF5, -5.84%  for January tanked 5.6% to $1.90 a gallon, while heating oil for the same month HOF5, -4.49%  slid 4.4% to $2.22 a gallon.