Weekly Technical view on KLCI

Weekly Wrap of KLCI

In the entire week the market breath was negative. It closed in the green on Monday followed by four red candles. On the last day of the week market gained little momentum observing little recovery in the counters. US allegations of massive fraud at state investment fund 1MDB wherein US authorities moved to seize more than $1bn (£761m) in assets related to the fund has been the major reason of the market being bearish.

Forecast for week ahead:

The FBMKLCI opened at the level of 1656 on Friday and closed in the red at level of 1657. The trading session on Friday saw a low of 1651; The market traded within a range of 7.86 points between an intra-day high of 1659.76 and a low of 1651.90 during the session.
In the coming week market  could complete its rounding bottom pattern and if it happens it is expected to test the resistance level of 1671 and could go upto the level of 1689. On the other side if the market breaches the support level of 1648 it might go further down to the level of 1638. In the coming days traders would remain cautious regarding the 1MDB issue and would trade accordingly.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1648	1638	1627	1671	1689	1699

 FBMKLCI Week's Performance

Open	1656
High	1659
Low	1651
Close	1657
Change(Points)	-0.12
% Change	-0.01%

Technical indicators:

RSI for this week is 48.954 with CCI at -12.311 Besides, difference line of MACD -8.158.

Counter-Specific News: 

1. The KL118 skyscraper project, also known as Menara Wawasan, is ongoing, said UEM Group Bhd     chairman Tan Sri Ahmad Tajuddin Ali.
2. Dancomech Holdings Bhd, which made its debut on the Main Market of Bursa Malaysia yesterday,     is eyeing sales growth of up to 20% in the next three to five years, pinning its hopes on a recovery       in prices of crude palm oil (CPO) and oil and gas (O&G) going forward.
3. Scomi Engineering Bhd yesterday issued a notice of arbitration against Prasarana Malaysia Bhd to     resolve the dispute between them in relation to the termination of the RM494 million Kuala                 Lumpur monorail fleet expansion project.
4. Petroliam Nasional Bhd (Petronas) awarded a production sharing contract (PSC) to PTTEP HK           Offshore Ltd, KUFPEC Malaysia (SK-410B) Ltd, and Petronas Carigali Sdn Bhd for exploration         Block SK410B at a signing ceremony yesterday.
5. Malayan Banking Bhd (Maybank) expects lower double-digit growth in its credit card billings and     receivables this year as consumers are more prudent on spending. It aims to maintain a 15%                 growth in its credit card base this year.

6.Mercedes-Benz Malaysia Sdn Bhd delivered a record 6,017 cars to customers in the six-month            period ended June 2016, registering a growth of 17% compared with the same period last year.

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.

Market Review and forecast

Market Review for KLCI:

The FBM KLCI index lost 1.96 points or 0.12% on Thursday. The Finance Index fell 0.58% to 14267.19 points, the Properties Index up 0.16% to 1154.09 points and the Plantation Index rose 0.45% to 7516.1 points. The market fluctuated between a high of 1635 and low of 1621 throughout the trading session on Thursday. The KLCI continued with its losses inspite of overnight mixed performance in Wall Street after Federal Reserve meeting minutes boosted speculation that the central bank will raise interest rates as soon as June.

 Market forecast for KLCI: 

The FBMKLCI failed to continue with past two days bullish streak on Thursday and closed in red.The KLCI Closed at the level of 1633, almost in the same zone as on Tuesday. The bearish closing just before the last trading day of the week sends in negative signals with even less volume expected on Friday. Any move above the 1637 level is  expected to touch the 1643 level whereas a bearish swipe below the 1621 level is expected to fall till 1611.

                                 

Top Gainers
Scrip Name	CMP	%change
MAYPAK	0.485	21.25
WOODLAN	0.48	15.36
CHEEWAH	1.37	10.48
WELLCAL	2.48	7.83
MERCURY	1.35	7.14

Top Losers
Scrip Name	CMP	%change
ATURMJU	0.92	-29.77
MYCORN	0.48	-10.28
PPG	0.51	-8.26
SAPRES	1	-7.53
MILUX	0.88	-7.37

Latest Stock Market News for Malaysia

Malaysia: Shares open slightly lower on Monday

MALAYSIA share pricess opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 0.630 points to 1628.520. Volume was 35.02 million sections worth RM10.9 million.

US dollar rises

A US dollar gage held over a six-week high achieved Friday after the greatest increment in shopper spending in a year provoked some in the business sector to conjecture that merchants would help the chances of a Federal Reserve financing cost build this year.

                                               Top gainers

Stock Name	Open	Range	Last	Change	Volume
DLADY	55.3	55.30 - 56.10	56	+0.88 (1.60%)	3600
HLIND	7.5	7.49 - 7.70	7.69	+0.20 (2.67%)	140200
VERSATL	1.03	0.965 - 1.10	1.1	+0.15 (15.79%)	549700
SCIENTX	12.16	11.88 - 12.16	12	+0.14 (1.18%)	87300
MICROLN	1.25	1.25 - 1.33	1.33	+0.11 (9.02%)	696900
LKL	0.33	0.28 - 0.35	0.305	+0.105 (52.50%)	111909400
LUXCHEM	1.6	1.60 - 1.68	1.68	+0.08 (5.00%)	124400
TURIYA	0.175	0.16 - 0.235	0.22	+0.07 (46.67%)	5061500
PRLEXUS	1.96	1.89 - 2.01	2.01	+0.06 (3.08%)	508500
HSI-C24	0.6	0.60 - 0.62	0.61	+0.06 (10.91%)	57000
AIRASIA	2.17	2.16 - 2.22	2.21	+0.05 (2.31%)	15524900
PESTECH	6.78	6.69 - 6.78	6.7	+0.05 (0.75%)	106200
TECNIC	1.3	1.30 - 1.35	1.35	+0.05 (3.85%)	7000
HSI-C23	0.72	0.715 - 0.78	0.78	+0.045 (6.12%)	90000
3A	1.14	1.13 - 1.18	1.18	+0.04 (3.51%)	1303700
LIIHEN	2.45	2.42 - 2.45	2.45	+0.04 (1.66%)	208200
HSI-C40	0.685	0.675 - 0.70	0.675	+0.04 (6.30%)	40200
AAX-WA	0.27	0.27 - 0.30	0.3	+0.035 (13.21%)	61928900

Lower fuel costs, fine discount move SIA's Q4 benefit to S$225m

LESS costly Jet fuel and a S$117 million discount of an opposition related fine offered lift to Singapore Airlines' wings as it posted a net benefit of S$224.7 million for the final quarter finished March 31, 2016, up from just S$39.6 million a year back.

Nonetheless, yields kept on misery in the midst of intense rivalry as SIA, provincial wing SilkAir and SIA Cargo reported lower figures. Specifically, overcapacity in the payload market brought on SIA Cargo's respects tumble strongly by 15.5 for every penny year-on-year to 26.8 pennies/ltk (load-ton-kilometer).

"The gathering is fighting with a testing working environment in key markets, brought about partially by feeble monetary movement and moderately fast development in limit, prove by expanding special passage action," SIA said in its money related results, which were discharged after the business sector shut on Thursday.

MALAYSIAN shares finished lower on Monday with the Kuala Lumpur Composite Index

                                         Todays News

 

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Shares end lower

MALAYSIAN shares finished lower on Monday with the Kuala Lumpur Composite Index slipping 8.69 points to close at 1,654.75. Nearly 1.69 billion lots, valued at RM2.31 billion were exchanged. Gainers numbered 306 while losers numbered 599.

Malaysia's Petronas posts US$704m Q4 net loss, confirms spending cuts

Malaysia's Petroliam Nasional Bhd, or Petronas, reported a final quarter net loss on Monday and declared spending cuts for the following couple of years, as the state oil organization supports for a drawn out time of low oil costs. Petronas reported a net loss of RM2.96 billion (US$704.3 million) for the October-December period, contrasted and lost RM7.3 billion a year back. The organization credited the net misfortune to weakness of advantages created by low oil costs.

Todays signal

Panasonic Manufacturing Malaysia: gap

the upside prevails as long as 24.6 is support.

Supports and resistances:
28.5 **
28 *
27.5 **
27
25.8 last
25
24.6 **
23.8 *
23.3 **

                                                        Top Gainers

Stock Name	Open	Range	Last	Change	Volume
PANAMY	26	25.30 - 26.00	25.8	+0.60 (2.38%)	36200
CARLSBG	12.3	12.20 - 12.54	12.54	+0.42 (3.47%)	483500
UTDPLT	25.88	25.88 - 25.90	25.9	+0.40 (1.57%)	300
HARTA	4.61	4.60 - 4.90	4.9	+0.30 (6.52%)	8520200
ULICORP	5.3	5.30 - 5.30	5.3	+0.28 (5.58%)	200
BKAWAN	17.52	17.50 - 17.76	17.76	+0.26 (1.49%)	31000
SPB	5.53	5.50 - 5.70	5.63	+0.22 (4.07%)	121500
APM	3.82	3.82 - 4.04	4.04	+0.22 (5.76%)	5200
AEONCR	11.82	11.82 - 11.98	11.92	+0.20 (1.71%)	36200
HAPSENG-WA	6	5.96 - 6.20	6.09	+0.19 (3.22%)	9400
TGUAN-LA	2.93	2.93 - 3.07	3.07	+0.17 (5.86%)	268600
TGUAN-WA	2.12	2.12 - 2.29	2.22	+0.17 (8.29%)	331800
KOSSAN	6.35	6.31 - 6.50	6.5	+0.16 (2.52%)	1962700
MPI	7.78	7.73 - 7.94	7.93	+0.15 (1.93%)	189900
WPRTS	3.95	3.89 - 4.03	4.03	+0.15 (3.87%)	3250200
AHEALTH	3.55	3.55 - 3.75	3.68	+0.14 (3.95%)	352000
AJI	9.17	9.17 - 9.30	9.3	+0.13 (1.42%)	22700
TGUAN	3.15	3.15 - 3.37	3.29	+0.13 (4.11%)	1510500
HSI-HS	1.39	1.39 - 1.54	1.5	+0.13 (9.49%)	112900
AXIATA	5.85	5.84 - 6.02	5.92	+0.12 (2.07%)	9678400
HSI-HU	1.3	1.30 - 1.34	1.34	+0.12 (9.84%)	93500
TAWIN	0.24	0.24 - 0.36	0.34	+0.11 (47.83%)	334500
HAPSENG-CQ	0.31	0.31 - 0.31	0.31	+0.105 (51.22%)	10000
BURSA	8.5	8.50 - 8.62	8.6	+0.10 (1.18%)	1676500
UMW	6.9	6.74 - 7.37	7.08	+0.10 (1.43%)	1149000
HUMEIND	3	2.97 - 3.10	3.1	+0.10 (3.33%)	72100
TAKAFUL	3.82	3.81 - 3.95	3.95	+0.10 (2.60%)	424100
HSI-HR	0.735	0.73 - 0.85	0.82	+0.095 (13.10%)	697600
ALLIANZ	10.02	10.02 - 10.02	10.02	+0.09 (0.91%)	46400
APB	1.09	1.07 - 1.18	1.18	+0.09 (8.26%)	144200