Current Market Update

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

Tokyo (Nikkei Average) closed for holiday 

 Hong Kong (Hang Seng Index) up 0.4% (closed) 

 Shanghai (Shanghai Composite Index) up 0.7% (at break) 

 Sydney (S&P/ASX 200) down 0.1% (closed) 

 Seoul (Kospi) closed for holiday 

Mumbai (Sensex) up 0.2% 

 Taipei (Taiex) down 0.1%

Asian Market Update

Asian markets were set for a cautious close to 2014 on Wednesday as worries about Greece's future in the euro zone served as an excuse to take profits on popular trades.

The US dollar also ran into selling on its recent gains, while the euro got no respite as a host of European bonds yields fell to all-time lows after a shockingly sharp fall in Spanish inflation.

Trade was thinned by holidays in Japan, Thailand, South Korea and the Philippines, while many markets in Europe are either shut or finish early on Wednesday.

Among the scraps of data and indicators due in Asia is a final measure of December Chinese manufacturing activity from HSBC, though it is unlikely to cause a fuss unless wildly out of line with the preliminary reading of 49.5.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Wednesday with the FBMKLCI down 6.16 points to 1759.76.

Volume was 17.5 million lots valued at RM$7.5 million.

Gainers outnumbered losers 50 to 45.

Market Closing Update

MALAYSIAN shares ended lower on Tuesday with the Kuala Lumpur Composite Index slipping 1.58 points to close at 1,766.83.

Some 1.34 billion lots, valued at RM1.61 billion were traded. Gainers numbered 382 while losers numbered 402.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5586 during European morning trade, the pair’s highest since December 23; the pair subsequently consolidated at 1.5573, adding 0.10%.The dollar remained broadly supported after final data last week showed that U.S. gross domestic product rose 5.0% in the third quarter, exceeding expectations for a growth rate of 4.3% and up from 3.9% in the three months to June.The strong data fuelled further optimism over the strength of the U.S.economic recovery and added to expectations for the Federal Reserve to raise interest rates next year. The pound found some support after data on Friday showed that U.K. GDP rose 0.7% in the third quarter, in line with expectations and down from a 0.8% growth rate in the three months to June.


INTRADAY OUTLOOK
Support: 1.5520
Resistance: 1.5586

RECOMMENDATION:
1. Buy GBP/USD Above 1.5588-TG:1.1.5608/1.5638 SL 1.5558
2. Sell GBP/USD Below 1.5517-TG:1.1.5497/1.5467 SL 1.5547

INTRADAY OUTLOOK
Immediate Support: 1.2163
Immediate Resistance: 1.2224

RECOMMENDATION:
1. Buy EUR/USD Above 1.2226-TG:1.2246/1.2276 SL 1.2196
2. Sell EUR/USD Below 1.2160-TG:1.2140/1.2110 SL 1.2190