KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Monday in light trade as sentiment on the timing of a widely expected Federal Reserve rate hike guides investors. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery fell 0.24% to 1,181.70 a troy ounce. Gold rallied to a two-week high on Friday, as the U.S. dollar sold off after the Federal Reserve projected a slower pace of rate hikes following its policy meeting earlier in the week. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar- priced commodities cheaper for holders of other currencies. The dollar’s losses came after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections, prompting investors to push back expectations on the timing and pace of future rate increases.



TRADING STRATEGY :
BUY GOLD ABOVE 1188 TARGET 1193 1199 SL 1182
SELL GOLD BELOW 1178 TARGET 1173 1167 SL 1184

S&P Market News Update

Energy companies and those relying heavily on international sales are expected to be the biggest drag on earnings this coming season as the S&P 500 Index is forecast to see its year-over-year quarterly earnings decline for the first time in nearly six years.

The S&P 500 SPX, +0.90%  rising 2.7%, and the Nasdaq Composite Index COMP, +0.68%  gaining 3.2%. The weekly gains on the Dow and the S&P 500 put them back in the black for the year.

Current Market Update

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

 Tokyo (Nikkei Average NIK, +1.08% ) up 1.1% 

 Hong Kong (Hang Seng Index HSI, +0.56% ) up 0.6% 

 Shanghai (Shanghai Composite Index SHCOMP, +1.63% ) up 1.6% (at break) 

 Sydney (S&P/ASX 200 XJO, +0.04% ) flat 

Seoul (Kospi SEU, +0.22% ) up 0.1% 

 Mumbai (Sensex 1, +0.33% ) up 0.3% 

 Taipei (Taiex Y9999, +0.21% ) up 0.2%

Asian Market Update

Asian markets mostly advanced Monday following rallies on Wall Street and in Europe, while the dollar continued to struggle after the Federal Reserve dampened expectations for an early interest rate hike.

Tokyo rose 0.83 per cent, Hong Kong gained 0.37 per cent, Seoul added 0.10 per cent and Shanghai was up 0.63 per cent, marking a ninth successive rise. Sydney eased 0.34 per cent.

With few catalysts to drive business early in the week investors took their lead from their US counterparts, who have been cheered by the Fed's dovish comments on rates.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 5.09points to 1,798.56

Volume was about 142 million lots worth RM64 million.

Gainers outnumbered losers 156 to 100.