Market forecast for KLCI

Market forecast for KLCI:

The FBMKLCI opened at the level of 1664 on Thursday and closed in the green at level of 1670. The trading session on Friday saw a low of 1662;

The market traded within a range of 8.93 points Market breadth was positive with 401 gainers as compared to 392 losers. Market continued to be bullish as it is currently in the uptrend. It is expected to breach the resistance level of 1675 in the coming days and could reach to the level of 1684.

Market Review for KLCI:

The FBM KLCI index gained 2.44 points or 0.15% on Monday. The Finance Index increased 0.02% to 14254.84 points, the Properties Index up 0.38% to 1164.55 points and the Plantation Index rose 0.47% to 7566.93 points. The market fluctuated between a high of 1671 and low of 1662 throughout the trading session on Monday. The KLCI erased its midday losses by ending higher at 1670.84 points despite mixed performance in Wall Street on last Friday. The performance of our local bourse was lifted by buying interest in heavy weight counters such as Maxis and Axiata. 

Top Losers
Scrip Name	CMP	%change
AFUJIYA	0.43	-10.42
MCEHLDG	0.77	-6.1
WINGTM	1.08	-6.09
SAPIND	0.91	-5.7
AIRPORT	6.11	-5.12

Top Gainers
Scrip Name	CMP	%change
MBWORLD	1.26	11.5
MENANG	0.995	11.17
MBMR	2.43	10.96
PUNCAK	1.09	7.92
FGV	1.67	7.74

              

TECHNICAL INDICATORS
RSI	Price line above centre line at 62.718
CCI	Above the signal line at 135.576
MACD	Above its signal line showing its cross over at 6.206

KLCI COUNTER SPECIFIC NEWS :

• Goodway Integrated Industries Bhd said it was unaware of reasons behind the recent spike in the company’s share price, after being issued an unusual market activity query by Bursa Malaysia last Thursday.
• Oldtown Bhd has allowed G&L Food and Beverage Management Co Ltd to operate and sub-license the territorial rights of its Oldtown White Coffee business in Jiangsu, China.
• Malaysia Airports Holdings Bhd (MAHB) said yesterday it has been receiving regular updates from its Istanbul Sabiha Gokcen International Airport (ISG) on the situation following reports of an attempted military coup in Turkey.
• CIMB Group Holdings Bhd and AMMB Holdings Bhd (AmBank) are the two latest banks which announced that they will be reducing their respective base rates (BR) and base lending rates (BLR) by 20 basis points each following the cut in the Overnight Policy Rate (OPR) last week.
• SKP Resources Bhd, which secured new orders worth an estimated RM500 million a year last Friday, said it will have to discontinue a RM400 million a year contract manufacturing job to manage labour resources.
• Sepang International Circuit Sdn Bhd (SIC) is investing RM1.13 billion on a master plan that will transform the circuit into an integrated, multi-faceted entertainment hub over the next five to seven years.