Bursa Malaysia stock news and signals

Market forecast for KLCI:

The FBMKLCI opened at the level of 1669 on Wednesday and closed in the red at level of 1669. The trading session on Wednesday saw a low of 1664.

The market traded within a range of 5.79 points between an intra-day high of 1669.80 and a low of 1664.01 during the session. Market closed lower than the previous day and in the coming trading session it is expected to breach the resistance level of 1674 and go upto the level of 1684. On the other side if it tests the support level of 1660 it could cross the level and go further down to the level of 1651.

Market Review for KLCI:

The FBM KLCI index lost 0.94 points or 0.06% on Wednesday. The Finance Index increased 0.01% to 14272.57 points, the Properties Index up 0.21% to 1166.7 points and the Plantation Index rose 0.11% to 7601.07 points. The market fluctuated between a high of 1669 and low of 1664 throughout the trading session on Wednesday. The KLCI extended its mid-day losses by ending lower at 1669.61 points, amid overnight mixed performance in Wall Street. Our benchmark index was dragged down by losses in heavyweight counters such as YTL Corp and Maxis. 

Top Losers
Scrip Name	CMP	%change
QUALITY	1.37	-7.43
SGB	0.63	-7.35
TGL	1.3	-7.14
MICROLN	1.4	-6.67
KEN	0.89	-6.32

Top Gainers
Scrip Name	CMP	%change
AISB	0.485	21.25
HARBOUR	1.05	14.13
GESHEN	1.85	8.19
CEPCO	1.65	7.84
SCC	1.97	7.65

TECHNICAL INDICATORS
RSI	Price line above centre line at 61.787
CCI	Above the signal line at 115.252
MACD	Above its signal line showing its cross over at 7.418

KLCI COUNTER SPECIFIC NEWS :

• Alliance Financial Group Bhd (AFG) expects the profitability of its banks to be negatively impacted by the Overnight Policy Rate (OPR) cut by Bank Negara Malaysia but is confident that it will be able to steer through the challenge.
• Bursa Malaysia Bhd is proposing to promote the exchange as a one-stop centre for all secondary fund raising by listed issuers, as it will be the single approving authority for all new issues of securities by Collective Investment Schemes (CIS) post-listing, except for debt securities.
• Kerjaya Prospek Group Bhd’s subsidiary, Kerjaya Prospek (M) Sdn Bhd, has been awarded a RM213.75 million job by Apple 99 Development Sdn Bhd for the main building works of a proposed mixed development project known as “The Apple”.
• Borneo Oil Bhd’s wholly owned subsidiary Borneo Oil and Gas Corp Sdn Bhd’s first phase of gold mining prospect in Bukit Ibam, Pahang, has inferred gold resources of about 60,814 troy ounces (or 1,819.5kg).
• PRG Holdings Bhd and Baycity Park Sdn Bhd will jointly develop a high-quality affordable apartment project, consisting of 650 units priced from RM250,000 to RM450,000 each in Subang Bestari Seksyen U5, Shah Alam, Selangor.