skip to main |
skip to sidebar
MARKET UPDATES :
The FBM KLCI index lost 0.46 points or 0.03% on Tuesday. The Finance Index increased 0.23% to 15915.65 points, the Properties Index dropped 0.28% to 1305.23 points and the Plantation Index down 0.06% to 8013.23 points. The market traded within a range of 7.93 points between an intra-day high of 1816.62 and a low of 1808.69 during the session.
STOCK RECOMMENDATION :
BUY FELDA GLOBAL ABOVE 2.505 TARGET 2.540 2.600 SL 2.450
INTERNATIONAL COMMODITY NEWS :
Gold prices eased in early Asia on Thursday with events surrounding Greece in sharper focus and the implications for euro zone stability. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.08% to trade at $1,219.90 a troy ounce.Prices were supported amid speculation of further monetary easing from the People’s Bank of China following Tuesday’s lower-than-expected inflation data. Investors were also looking at a bump from seasonal physical gold demand ahead of the Chinese New Year holiday and any stockpiling of copper ahead of a week-long break.Overnight, gold inched up modestly in cautious trade on Wednesday, as Greece’s Finance Minister Yanis Varoufakis was to meet with other finance ministers of the euro zone later in the day to discuss a solution to Greece’s bailout program.
TRADING STRATEGY :
BUY GOLD ABOVE 1224 TARGET 1229 1235 SL 1218
SELL GOLD BELOW 1216 TARGET 1211 1205 SL 1222
The euro surged against the dollar late Wednesday after a CNBC report indicated that Greek and European Union officials have reached an agreement “in principle” on a plan to rework the country’s bailout.
The euro EURUSD, -0.20% traded at $1.1354, its highest level in two sessions, after trading in a tight range around the $1.13 level during Wednesday’s session.
The dollar USDJPY, -0.16% traded at ¥120.41, its highest level since the closing compared with ¥119.35 late Tuesday.
The pound GBPUSD, -0.12% traded flat against the dollar and euro at $1.5250 and £0.7420 EURUSD, -0.22%
The euro traded flat against the dollar at $1.1315.
The ICE U.S. Dollar Index DXY, +0.03% a measure of the greenback’s strength against a basket of six rival currencies was 0.2% stronger at 94.9530.
March silver SIH5, -0.54% fell 11 cents, or 0.7%, to $16.76 an ounce.
Platinum for April delivery PLJ5, -0.06% fell $11.70 to end at $1,195.60 an ounce, while March palladium PAH5, +0.42% tacked on 85 cents to $766.55 an ounce. High-grade copper for March delivery HGH5, +0.24% closed down by about a penny at $2.541 a pound.
Natural gas logged a third straight session gain, with March natural gas NGH15, +0.21% jumping 4.5%, or 12 cents, to $2.797 per million British thermal units.
