Asian Market Update

Asian markets staged a mild recovery Wednesday, but traders remained nervous after oil prices hit new five-and-a-half-year lows and Greek political turmoil sent the euro skidding.

More losses on Wall Street and in Europe kept investors on edge as they awaited the release of US Federal Reserve minutes later in the day and jobs data on Friday.

Tokyo added 0.54 per cent by the break, Hong Kong was flat, Shanghai gained 0.51 per cent and Seoul put on 0.18 per cent while Sydney was 0.40 per cent lower.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 4.76 points to 1714.70.

Volume was 21.07 million lots worth RM8.55 million.

Losers outnumbered gainers 79 to 34.

Market Closing Update

MALAYSIAN shares ended lower on Tuesday with the Kuala Lumpur Composite Index slipping 20.04 points to close at 1,716.58.

Some 1.64 billion lots, valued at RM1.86 billion were traded. Gainers numbered 180 while losers numbered 639.

KLSE IForex Recommendations

TRADING TIPS :

USD/JPY changed hands at 120.07, down 0.36%.Last week, the euro fell to four-and-a-half year lows against the dollar on Friday, and the greenback rose to parity against the Swiss franc after European Central Bank President Mario Draghi indicated that the likelihood of quantitative easing has increased.In an interview Handelsblatt Draghi said the risk of the ECB not fulfilling its mandate of price stability is higher now than six months ago. The remarks indicated that the central bank is moving closer to implementing quantitative easing measures in order to spur growth and inflation.


INTRADAY OUTLOOK
Support: 119.97
Resistance: 120.64

RECOMMENDATION:
1. Buy USD/JPY Above 120.66-TG: 120.86/121.16 SL 120.36
2. Sell USD/JPY Below 119.95-TG: 119.75/119.45 SL 120.25

INTRADAY OUTLOOK
Immediate Support: 1.1879
Immediate Resistance: 1.1950

RECOMMENDATION:
1. Buy EUR/USD Above -1.1952 TG: 1.1972/1.2002 SL 1.1922
2. Sell EUR/USD Below -1.1877 TG:1.1857/1.1827 SL 1.1907

KLSE Stock Recommendations

MARKET UPDATES :

Malaysia Airports Holdings Berhad announced on Bursa Malaysia today that it has completed the acquisition for the remainder 40 per cent collective equity stake in Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim Ve Isletme A.S. (Istanbul Sabiha Gokcen International Airport).The company said in its announcement that the acquisition was completed for a cash consideration of EUR279 million (RM1.17 billion) from Limak Insaat Ve San Tic A.S. and Limak Yatirim Energi Uretim Isletme Hizmetleri Ve Insaat A.S..



STOCK RECOMMENDATION :

BUY CREST BUILDER ABOVE 1.225 TARGET 1.260 2.320 SL 1.175