Malaysia: Shares open lower on Wednesday

MALAYSIA share prices opened lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 3.08 points to 1735.02.

Volume was 9.26 million lots worth RM4.23 million.

Losers outnumbered gainers 63 to 45.

Market Closing Update

MALAYSIAN shares ended lower on Wednesday with the Kuala Lumpur Composite Index slipping 2.74 points to close at 1,738.1.

Some 1.44 billion lots, valued at RM1.70 billion were traded. Gainers numbered 216 while losers numbered 647.
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KLSE Stock Recommendations

MARKET UPDATES :

The Trans Pacific Partnership can and must be a done deal in 2015 as it provides the best “political opportunity” for the United States. Marc Mealy, who is vice president (policy) in the US-Asean Business Council, described the deadline for next year requires precision clocking to enable a rational legislative approach to see the 21st century trade deal come through.



STOCK RECOMMENDATION :

SELL FELDA GLOBAL VENTURES BELOW 2.96 TARGET 2.92 2.87 SL 3.01

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD hit lows of 1.2279, the weakest level since August 16, 2012.Data released on Monday showed that Japan’s third quarter economic contraction was deeper than initially estimated.Revised data showed that Japan’s gross domestic product contracted by an annualized 1.9%, more than the preliminary estimate of a 1.6% decline. On a quarter-over-quarter basis the economy contracted by 0.5% in the three months to September, compared to a preliminary estimate of a 0.4% contraction.A separate report showed that Chinese exports rose just 4.7% in November from a year earlier, less than the expected 7.9% increase, while imports fell 6.7% on a year-over-year basis. The weak data added to concerns over a slowdown in the world’s second-largest economy.In the euro zone, data showed that German industrial production rose just 0.2% in October,


INTRADAY OUTLOOK
Support: 1.2238
Resistance: 1.2302

RECOMMENDATION:
1. Buy EUR/USD Above 1.2304-TG:1.2324/1.2354 SL 1.2274
2. Sell EUR/USD Below 1.2235-TG:1.2215/1.2185 SL 1.2265

INTRADAY OUTLOOK
Immediate Support: 120.67
Immediate Resistance: 121.28

RECOMMENDATION:
1. Buy USD/JPY Above 121.30-TG:121.50/121.80 SL 121.00
2. Sell USD/JPY Below 120.65-TG:120.45/120.15 SL 120.95

KLSE GOLD Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold ticked higher in early Asia on Tuesday as the dollar eased against the yen.Overnight, gold prices edged higher on Monday, amid expectations central banks in China, Japan and Europe will have to implement more stimulus to boost growth.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,203.80 a troy ounce, up 0.08%. Expectations for further stimulus mounted after data released earlier showed that China’s trade activity was weaker than expected in November, while Japan’s economy shrank more than initially reported in third quarter.

TRADING STRATEGY :

BUY GOLD ABOVE 1203.75 TARGET 1208.75 1214.75 SL 1197.75
SELL GOLD BELOW 1199 TARGET 1194 1188 SL 1205