Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) up 1.1% 

 Hong Kong (Hang Seng Index) up 0.1% (closed) 

 Shanghai (Shanghai Composite Index) down 1.9% 

 Sydney (S&P/ASX 200) up 0.3% 

 Seoul (Kospi) up 0.3% 

 Mumbai (Sensex) flat 

 Taipei (Taiex) up 0.8%

Asian Market Update

Asian markets rose on Wednesday, supported by record gains in US share markets after stellar growth figures from the world's top economy.

Tokyo opened 1.17 per cent higher, Hong Kong added 0.15 per cent, Seoul gained 0.38 and Sydney rose 0.22 per cent in morning trade.

Shanghai rebounded slightly after a three per cent drop the previous day, edging up 0.22 per cent.

Trade was thin ahead of the Christmas holiday, with half days in Hong Kong and Australia's financial markets.

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.
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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