Current Market Update

 

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

Tokyo (Nikkei Average NIK, -0.45% ) down 0.3% 

 Hong Kong (Hang Seng Index HSI, +0.90% ) up 0.9% 

 Shanghai (Shanghai Composite Index SHCOMP, +1.57% ) up 1.6% (at break) 

 Sydney (S&P/ASX 200 XJO, +2.41% ) up 2.4% 

 Seoul (Kospi SEU, +0.53% ) up 0.5%

 Mumbai (Sensex 1, +0.46% ) up 0.3% 

 Taipei (Taiex Y9999, +0.35% ) up 0.4%

Asian Market Update

Asian markets mostly rose Friday after European leaders and Russia agreed a plan to end Ukraine's 10-month war, while traders were confident Greece would eventually hammer out a debt overhaul with its creditors.

The upbeat outlook for the crises provided a catalyst for an equities rally in Europe and the United States, a mantle picked up in bourses across Asia.

Hong Kong rose 0.46 per cent, Shanghai added 0.50 per cent and Seoul put on 0.33 per cent, while Sydney rallied 1.09 per cent as energy firms were boosted by a rebound in oil prices.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 1.95 points to 1791.68.

Volume was 30.63 million lots worth RM16.43 million.

Gainers outnumbered losers 117 to 46.

Market Closing Update

Malaysian shares closed lower on Thursday with the Kuala Lumpur Composite Index slipping 9.88 points to 1,789.07.

Some 1.68 billion lots, valued at RM2.51 billion were traded. Losers outnumbered gainers 436 to 326.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5297 during European morning trade, the pair’s highest since February 6; the pair subsequently consolidated at 1.5283, adding 0.19%.Investors remained cautious following reports the European Commission could propose a six-month extension to Greece’s existing bailout program at an emergency meeting of the euro group of finance ministers, due to take place later in the day.Athens is expected to ask for a bridge loan to cover its funding needs until September, and to also propose new economic reforms to replace some of the harshest austerity conditions attached to its bailout.However, German Finance Minister Wolfgang Schaeuble dampened hopes Wednesday morning, by saying there are no plans to discuss a new agreement.

INTRADAY OUTLOOK
Support: 1.5266
Resistance: 1.5325

RECOMMENDATION:
1. Buy GBP/USD Above 1.5327-TG: 1.5347/1.5377 SL 1.5297
2. Sell GBP/USD Below 1.5264-TG: 1.5244/1.5214 SL 1.5294

INTRADAY OUTLOOK
Immediate Support: 1.1261
Immediate Resistance: 1.1334

RECOMMENDATION:
1. Buy EUR/USD Above -1.1336 TG: 1.1356/1.1386 SL 1.1306

2. Sell EUR/USD Below -1.1259 TG:1.1239/1.1209 SL 1.1289