Market Closing Update

MALAYSIAN shares ended higher on Wednesday with the Kuala Lumpur Composite Index adding 7.96 points to close at 1,681.9.

Some 1.94 billion lots, valued at RM2.06 billion were traded. Gainers numbered 648 while losers numbered 257.
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KLSE Stock Recommendations

MARKET UPDATES :

Share prices on Bursa Malaysia ended lower today on selling pressure, sparked by the continuous fall in oil prices, reduced demand and slower global growth,

The Malaysian rubber market closed higher for the second consecutive day today, despite a stronger ringgit, lower crude oil prices and weaker performance of the regional futures, a dealer said.




STOCK RECOMMENDATION :

SELL ASTRO MALAYSIA BELOW 2.840 TARGET 2.800 2.720 SL 2.880

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Wednesday with investors focused on the results of a Federal Reserve meeting later in the day that might shift language on the outlook for interest rates. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,195.40 a troy ounce, down 0.13%, after hitting an overnight session low of $1,188.00 and off a high of $1,223.80. Overnight, gold futures dropped on Tuesday after investors shrugged off disappointing housing data that would have otherwise boosted prices and jumped to the sidelines ahead of the Federal Reserve’s statement on interest rates and monetary policy due out Wednesday.

TRADING STRATEGY :

BUY GOLD ABOVE 1200 TARGET 1205 1211 SL 1194
SELL GOLD BELOW 1193 TARGET 1188 1182 SL 1199

KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.37% at 1.2483.U.S. housing starts fell unexpectedly last month, official data showed on Tuesday. The Census Bureau reported earlier that the number of housing starts fell to 1.028 million units in November from 1.045 million in the precedingmonth, whose figure was revised up from 1.009 million. Analysts had expected the number of housing starts to rise to 1.030 million last month.Building permits took a similar turn for the worse. The Census Bureau reported that the number of building permits issued in November fell to 1.035 million from 1.080 million in the preceding month.Analysts were expecting the number of building permits issued to fall to 1.060 million last month.



INTRADAY OUTLOOK
Support: 1.2472
Resistance: 1.2528

RECOMMENDATION:
1. Buy EUR/USD Above 1.2530-TG:1.2550/1.2580 SL 1.2500
2. Sell EUR/USD Below 1.2470-TG:1.2450/1.2420 SL 1.2500

INTRADAY OUTLOOK
Immediate Support: 116.72
Immediate Resistance: 117.35

RECOMMENDATION:
1. Buy USD/JPY Above 117.37-TG:117.57/117.87 SL 117.07
2. Sell USD/JPY Below 116.70-TG:116.50/116.20 SL 117.00

Platinum Market Update

January platinum PLF5, +0.38% settled down 1.5% at $1,196.50 an ounce, while March palladium PAH5, -0.06% dropped by 2.3% to end at $784 an ounce. High-grade copper for March delivery HGH5, +0.14% fell 2 cents, or 0.7%, to settle at $2.86 a pound.


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