Market Closing Update

MALAYSIAN shares ended higher on Tuesday with the Kuala Lumpur Composite Index adding 5 points to close at 1,749.05.

Some 1.51 billion lots, valued at RM1.67 billion were traded. Gainers numbered 281 while losers numbered 541.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my

KLSE Stock Recommendations

MARKET UPDATES :

 Automotive players are expected to introduce new and enhanced versions of existing models next year, including energy-efficient vehicles (EEVs) at very competitive prices.However, uncertainties over the impact of the goods andservices tax (GST), rising living costs and bleak global economic outlook may cause consumers to be careful with their spending, and players expect the sector to soften in the first half of next year.Proton Holdings Bhd CEO Datuk Abdul Harith Abdullah said the company saw a lot of potential in providing models in their respective segments, citing the recently launched Proton Iriz.



STOCK RECOMMENDATION :

BUY SAPURA KENCANA ABOVE 2.410 TARGET 2.470 2.540 SL 2.350

KLSE IForex Recommendations

TRADING TIPS :

EUR/USDrose 0.26% to 1.2258, easing off two-year lows of 1.2222 hit overnight.Earlier Monday, official data showed that German import prices dropped 0.8% in November, compared to expectations for a 0.5% loss, after a 0.3% downtick in October.Meanwhile, the dollar continued to be underpinned after the Federal Reserve said last week that it would be “patient” before raising rates, guidance which it said is consistent with earlier assurances statement that rates would stay low “for a considerable time.”The central bank also acknowledged the impr- vement in the U.S. labor market and noted that the economy is making progress toward its goals in inflation and employment. Trading volumes were expected to remain light on Monday, ahead of the Christmas Day Holiday.

INTRADAY OUTLOOK
Support: 1.2243
Resistance: 1.2298

RECOMMENDATION:
1. Buy EUR/USD Above 1.2300-TG:1.2320/1.2350 SL 1.2270
2. Sell EUR/USD Below 1.2240-TG:1.2220/1.2190 SL 1.2270

INTRADAY OUTLOOK
Immediate Support: 1.5597
Immediate Resistance: 1.5662

RECOMMENDATION:
1. Buy GBP/USD Above 1.5665-TG:1.5685/1.5715 SL 1.5635
2. Sell GBP/USD Below 1.5595-TG:1.5575/1.5545 SL 1.5625

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

The global decline in crude oil prices is beginning to reveal consequences around the globe far beyond the Russian ruble’s historic collapse last week. The magnitude of cheaper oil is beginning to rock the world’s emerging markets in two very different ways depending on whether nations are commodity producers or commodity importers. The fact that the global economy is teetering on the verge of a widespread slowdown – or worse – could magnify the effect of the ruble’s collapse on emerging markets and the bonds they issue.

TRADING STRATEGY :

BUY GOLD ABOVE 1179.75 TARGET 1184.75 1190.75 SL 1173.75

SELL GOLD BELOW 1175 TARGET 1170 1164 SL 1181

S&P 500, Dow industrials close at records

The S&P 500 and Dow Jones Industrial Average ended Monday at new records, fueled by continued hopes that the Federal Reserve won’t be in a rush to raise interest rates.

The S&P 500 SPX, +0.38%  gained 7.9 points, or 0.4%, to 2,078.55, closing at a record for the 50th time this year. This is the highest number of record closes in a year since 1995. Gains in technology and telecom stocks outweighed sharp losses in energy and health-care companies.