Bursa Market : KLCI Technical Anaysis Report 29 Sept

Market Review for KLCI:
The FBM KLCI index gained 5.84 points or 0.32% on Monday. The Finance Index increased 0.70% to 17264.55 points, the Properties Index dropped 0.23% to 1493.5 points and the Plantation Index down 0.22% to 8397.8 points. The market traded within a range of 7.55 points between an intra-day high of 1846.75 and a low of 1839.20 during the session. 

On the first trading day of the week, the KLCI closed higher by 5.84 points at 1846.34 points amid the positive economic performance in the US. The performance of our benchmark index was supported by gains in heavyweight counters such as CIMB, Hong Leong Financial, and Maxis.

KLCI Day Performance
Open	1841.05
High	1846.75
Low	1839.20
Close	1846.34
Change(Points)	5.84
% Change	0.32%
Volume	2602.1M
Rise	371
Fall	436
Unch	1549

Market forecast for KLCI:
Market trend is still down and prices are moving sideways but buying pressure is seen higher today. It is anticipated to be good buying momentum in the market. Still need to break the resisting level 1854.745.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1820	1805	1780	1854	1878	1895

Technical indicators:RSI stood below the centre line at 41.911 with its CCI at -60.583. Difference line of MACD performed at -7.071 below its signal line which performed at -5.964.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
CIMB	7.19	2.86	UEMS	1.82	-1.62
HLFG	17.76	2.19	KLK	21.5	-1.19
MAXIS	6.52	1.88	YTL	1.7	-1.16
SKPETRO	4.15	0.97	IOICORP	4.82	-0.41
GENTING	9.34	0.43	ASTRO	3.34	-0.3

Economic Factors:

• The local stock market corrected a third straight week on regional weakness after the global central bankers cautioned that the eurozone’s extended slowdown could stall global economic recovery.
• The ringgit opened lower today against the US dollar this morning as demand shifted to the greenback.
• Nam Cheong Ltd will invest US$30.7 million to subscribe to about 30 per cent of the enlarged share capital of PT Pelayaran Nasional Bina Buana Raya Tbk (BBR), an indirect subsidiary of Marco Polo Marine Ltd (MPML).
• IJM Plantations Bhd, the plantation arm of IJM Corp Bhd wants to bolster its planted oil palm estates to match and eventually outpace the land size of Singapore.
• Palm oil prices will decline as the world’s most-used edible oil is no longer competitive against alternatives even after dropping to the lowest level since 2009, according to Dorab Mistry, director at Godrej International Ltd Futures retreated.
• CAB expected to re-challenge immediate overhead resistance.
• Forty-two Malaysian construction companies generated total sales of RM102.96 million from 97 pre-arranged meetings at the recent Incoming Buying Mission on September 17, 2014.
• RAM Rating Services Bhd has received confirmation that Syarikat Borcos Shipping Sdn Bhd has fully-redeemed and cancelled its RM160 million Sukuk Ijarah MTN Programme (2008/2014) (IMTN).

Bursa Malaysia - KLCI Weekly Technical Analysis Review 22-26 Sept

Weekly wrap of KLCI::
The FBM KLCI index lost 2.61 points or 0.14% on Friday. The Finance Index fell 0.57% to 17144.77 points, the Properties Index dropped 0.52% to 1496.97 points and the Plantation Index rose 0.03% to 8416.7 points.

 The market traded within a range of 11.13 points between an intra-day high of 1840.37 and a low of 1829.24 during the session. The final trading day of the week saw the KLCI close lower by 1840.50 points.

The local bourse remained in the red for majority of the day, as a sharp overnight drop in Wall Street and on-going geopolitical tensions in the Middle East, rocked investor's appetite for risk. 

Regionally, Asian markets slid, as investors reacted to the U.S. overnight selloff, rumours of a Russian draft law that would allow seizure of foreign assets, possible change of leadership in China's Central Bank and expectations of higher interest rates from the Fed. 

FBMKLCI WEEK’s Performance
Open	1840.01
High	1840.50
Low	1829.24
Close	1840.50
Change(Points)	-8.99
% Change	-0.48%

Market Forecast for week ahead:
Market stood at support level 1836.248, it may rebound next week by taking next support at 1820.

Weekly Technical view on KLCI
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1820	1805	1780	1854	1878	1895

Technical indicators:

RSI for this week is 43.83 with CCI at -198.016. Besides, difference line of MACD (2.527) stood below its signal line (7.954).

Economic Factors:

• The ringgit opened higher in the early session on renewed buying interest for the local currency.
• The General Insurance Association of Malaysia (PIAM) expects the 2015 Budget to continue focusing on measures to further liberalise and strengthen the nation’s insurance and takaful sector.
• Automotive sector is on neutral mode following the launch of Proton's new compact car Iriz indicating that the sector will perform in line with the overall market in the next 12 months.
• Local Bumiputera firm Madolin Industry Sdn Bhd and Akishige Construction Co Ltd of Japan today inked a memorandum of understanding (MoU) on developing the country's construction industry.
• Malaysia's exports can grow in terms of volume and value once the country implemented the Goods and Services Tax (GST) by April next year.
• Malaysia will be on the right track towards achieving high-income nation status, propelled by science, technology and innovation by 2020.
• Malaysia is well-equipped to withstand another potential global financial crisis, thanks to its balanced economic structure, riding on domestic demand as the growth driver.
• FOOD-based QL Resources Bhd has offered to buy the remaining 73.19% stake in poultry outfit Lay Hong Holdings Bhd for RM3.50 a share. QL is currently the second largest shareholder in Lay Hong with a 26.81 per cent stake or 13.42 million shares.
• Scientex Bhd’s Q4 profit has increased substantially amid the move by the packaging manufacturing group to forge a strategic alliance with Japan’s Futamura Chemical Co Ltd (FCC). Q4 pre-tax profit for the year ended July 31 2014 rose 39.3% to RM56 million from RM40.2 million in the preceding quarter.
• UEM Group Bhd said its property arm UEM Sunrise Bhd’s revised sales target of RM2 billion for this year is achievable given the encouraging response for its projects in Australia and Johor. UEM Group Bhd (UEM), an engineering-based infrastructure and services company, is stepping up its game in all its core businesses in a bid to maintain its strong balance sheet and low net gearing.
• Positive long-term view is maintained on Malaysia Airports Holdings Bhd (MAHB) despite the stock’s lacklustre performance for the past few months due to weak statistics and earnings.

Sector Allocation Chart

SECTOR	CHANGE	%CHANGE	HIGH	LOW
PROPERTIES	8.11	1.27%	668.72	640.35
PLANTATION	12.23	0.82%	18434.9	18259.32
INDUSTRIAL	6.37	0.20%	3213.89	3176.26
CONSUMER	0.06	0.04%	143.9	142.73
MINING	2.18	0.03%	8424.22	8340.04
CONSTRUCTION	-0.08	-0.03%	241.98	240.91
IND-PROD	-0.63	-0.11%	593.42	588.99

Bursa Malaysia : KLCI Technical Analysis Summary 25 Sept

Market Review for KLCI:
The FBM KLCI index gained 3.03 points or 0.16% on Thursday. The Finance Index fell 0.09% to 17243.66 points, the Properties Index up 0.53% to 1504.73 points and the Plantation Index rose 0.65% to 8414.52 points. The market traded within a range of 7.00 points between an intra-day high of 1842.64 and a low of 1835.64 during the session. The KLCI today closed higher at 1843.11 points. The local bourse managed to erase its earlier losses and inched upwards, as investors continue to bargain hunt amid improving market sentiment, spurred on by new U.S. home sales data. Regionally, Asian markets slid but remained mixed, as the impact of overnight gains on Wall Street begin to wane. Investors continue to keep their ear to the ground, for clues on stimulus measures by the ECB, developments on the on-going conflict in Syria, and a possible changing of the guard at the Governor position in the PBOC.

KLCI Day Performance
Open	1835.64
High	1843.11
Low	1835.64
Close	1843.11
Change(Points)	3.03
% Change	0.17%
Volume	2393.4M
Rise	419
Fall	437
Unch	1500

Market forecast for KLCI:
Market trend is still down but buying pressure is seen higher today. It is anticipated to be good buying momentum in the market. Still need to break the resisting level 1854.745.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1820	1805	1780	1854	1878	1895

Technical indicators:RSI stood below the centre line at 37.411 with its CCI at -100.124. Difference line of MACD performed at -7.254 below its signal line which performed at -5.243.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
UEMS	1.85	2.78	UMW	12	-2.28
TM	6.54	2.51	PPB	14.2	-0.28
KLK	21.6	2.27	PETGAS	22.68	-0.26
CIMB	7.1	1.72	SKPETRO	4.13	-0.24
GENM	4.2	1.45	GENTING	9.32	-0.21

Economic Factors:

• The Asian Development Bank has revised upwards its growth projections for the Malaysian economy for 2014 and 2015. In the Outlook 2014, the Manila-based bank raised the growth projection this year to 5.7% from 5.1% previously. For 2015, it also revised its growth projection from 5.0% to 5.3%. The bank focused on the impact of fiscal and monetary tightening, including consumers’ responses to rising interest rates.
• Sapurakencana Petroleum Bhd's (SKP) group revenue of RM2.7 billion for Q2 of financial year 2015 (Q2 FY2015) was RM251.2 million higher compared to the immediate preceding quarter (Q1 FY2015) of RM2.4 billion.
• FOOD-based QL Resources Bhd has offered to buy the remaining 73.19% stake in poultry outfit Lay Hong Holdings Bhd for RM3.50 a share. QL is currently the second largest shareholder in Lay Hong with a 26.81 per cent stake or 13.42 million shares. QL Resources Bhd’s shares, which started on an uptrend in the early session, was lower at mid-afternoon as the market turned cautious on its takeover bid for Lay Hong Bhd.
• Scientex Bhd’s Q4 profit has increased substantially amid the move by the packaging manufacturing group to forge a strategic alliance with Japan’s Futamura Chemical Co Ltd (FCC). Q4 pre-tax profit for the year ended July 31 2014 rose 39.3% to RM56 million from RM40.2 million in the preceding quarter.
• UEM Group Bhd said its property arm UEM Sunrise Bhd’s revised sales target of RM2 billion for this year is achievable given the encouraging response for its projects in Australia and Johor. UEM Group Bhd (UEM), an engineering-based infrastructure and services company, is stepping up its game in all its core businesses in a bid to maintain its strong balance sheet and low net gearing.
• Shapadu Security Sdn Bhd plans to install 60 new Gunnebo automated retail cash handling solutions machines by mid-2015 with five major clients already signed up for the installation of the machines.
• Positive long-term view is maintained on Malaysia Airports Holdings Bhd (MAHB) despite the stock’s lacklustre performance for the past few months due to weak statistics and earnings.
• TA Enterprise Bhd’s share price rose by 1.58 per cent, or 1.5 sen, at mid-afternoon trading on its better first-half results ended July 31, 2014.
• Scientex Bhd’s shares rose 1.29 per cent, or nine sen, at mid-afternoon today, after announcing a RM300 million capital expenditure (capex) for the next three years yesterday.

Bursa Malaysia : KLCI Technical Analysis Outlook 24 Sept

Market Review for KLCI:
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 0.11 point easier on last-minute selling as investors took some profits off the table. It stood at 1,840.08, after moving between 1,838.67 and 1,844.77 throughout the day.

Some investors were in the midst of "spring cleaning", removing a few small- and mid-cap companies in their portfolios.

KLCI Day Performance
Open	1840.72
High	1844.67
Low	1838.67
Close	1840.08
Change(Points)	-0.11
% Change	-0.01%
Volume	2689.8M
Rise	427
Fall	371
Unch	1554

Market forecast for KLCI:
Market trend is still down and selling pressure seems to be higher.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1820	1805	1780	1854	1878	1895

Technical indicators: 
RSI stood below the centre line at 34.1555 with its CCI at -112.816. Difference line of MACD performed at -7.151 above its signal line which performed at -4.740.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
YTL	1.69	1.81	UEMS	1.8	-2.7
MISC	6.9	1.47	ASTRO	3.31	-1.19
BAT	69.8	1.19	GENTING	9.34	-0.85
HLFG	17.58	0.92	IOICORP	4.8	-0.83
RHBCAP	8.9	0.56	GENM	4.14	-0.48

Economic Factors:

• Malaysian rubber prices closed slightly lower today on mild selling.
• The ringgit closed higher against the US dollar today on renewed buying interests in most of the currencies of emerging Asia, including the ringgit.
• The government has decided to announce the findings of the Special Committee to Determine Cash Payments from Petroleum in the East Coast of Peninsular Malaysia to the rakyat.
• The Malaysian capital market is strong enough to weather the volatility as it has shown its resilience against the external hiccups.
• The Land Public Transport Commission (Spad) has withdrawn its notice of intention to suspend FM Global Logistics (M) Sdn Bhd's haulage licence.
• Malaysia Airports Holdings Bhd (MAHB) has a positive long term view despite the stock’s lacklustre performance for the past few months due to weak statistics and earnings.
• UEM Group Bhd is maintaining its property division UEM Sunrise Bhd's sales target of RM2 billion this year despite only achieving RM560 million sales as of August.
• Tenaga Nasional Bhd's shares rose 2.0 sen to RM12.30 as the market reacts positively to its venture in Bangladesh.
• Amanah Saham Nasional Bhd, a wholly owned subsidiary of Permodalan Nasional Bhd (PNB), today announced an income distribution of 6.6 sen per unit for Amanah Saham 1Malaysia (AS1M) for the financial year ending September 30, 2014.
• The general insurance industry, which recorded a steady growth in the first half of the year (1H14), is expected to continue its momentum in the year's second half driven by the motor insurance segment.

Bursa Malaysia - KLCI Technical Analysis Outlook 23 Sept

Market Review for KLCI:

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 5.86 points to end at 1,840.19 points after moving between 1,832.54 points and 1,842.15 points throughout the day.

Bursa Malaysia finished the day in the red despite the regional bourses bullish performances after positive data for China's factory activity.

In the coming week, the lingering positive sentiment from last week's overnight policy rate would fuel positive market sentiment and support the index to retest the 1,861 resistance level.

KLCI Day Performance
Open	1839.10
High	1842.15
Low	1832.54
Close	1840.19
Change(Points)	-5.86
% Change	-0.32%
Volume	2357.4M
Rise	284
Fall	527
Unch	1541

Market forecast for KLCI:

Market trend is still down and selling pressure seems to be higher

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1820	1805	1780	1857	1878	1895

Technical indicators:

RSI stood below the centre line at 34.215 with its CCI at -152.136. Difference line of MACD performed at -6.606 above its signal line which performed at -4.138. 

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
PPB	14.3	1.56	BAT	68.98	-2.29
MAXIS	6.33	1.12	HLFG	17.42	-1.58
TENAGA	12.28	0.66	IOICORP	4.84	-1.22
TM	6.46	0.62	ASTRO	3.35	-1.18
UMW	12.28	-0.16	FGV	3.51	-1.13

ECONOMIC FACTORS:

• The HSBC China Purchasing Managers' Index (PMI) rose to 50.5 in September from August's final reading of 50.2, beating a Reuters poll forecast of 50.
• Short-term interbank rates closed steady today following Bank Negara Malaysia's (BNM) intervention to absorb surplus liquidity from the financial system.
• The overnight rate stood at 3.21 per cent while the one-, two- and three-week rates stood at 3.26 per cent, 3.30 per cent and 3.34 per cent, respectively.
• Sona Petroleum Bhd, which aims to complete the acquisition of a stake in Salamander Energy plc's unit by year-end, is still awaiting the Securities Commission's (SC) approval.
• Malaysian rubber prices extended their fall at close today, tracking the Shanghai Futures Exchange's (SHFE) downtrend, as more traders remained on the side-lines.
• National oil and gas company Petronas is now actively implementing enhanced oil recovery (EOR) programmes to enhance crude oil production in maturing fileds, with more than 10 EOR projects in the pipeline.
• Scomi Engineering Bhd expects its maintenance, repair and overhaul (MRO) services to provide a steady source of recurring income to further boost development in the upstream segment.
• The world’s biggest Islamic debt offering of 2014 from Malaysia’s sovereign wealth fund will push the nation’s sukuk sales beyond RM50 billion (US$15.4 billion) for only the second time in 16 years.
• Malaysia’s benchmark stock gauge fell to a six-week low as data showed weekly outflows of foreign funds reached the highest level since March.
• BToto reported a higher revenue of RM1.2 billion in the first quarter due to the consolidation of its subsidiary HR Owen’s results, but net profit fell 21 per cent year-on-year (YoY) to RM78.3 million, mainly due to a weak performance from Sports Toto Malaysia, which saw fewer draws in the quarter and higher prize payouts.

KLCI Technical Analysis Outlook 22 Sept

Market Review for KLCI:
Share prices on Bursa Malaysia were higher in the early session of opening at 1,851.65 on fresh buying support and bolstered by gains in blue-chips. Bursa Malaysia finished lower today in tandem with regional bourses with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) 3.44 points easier.

KLCI Day Performance
Open	1851.65
High	1851.91
Low	1843.85
Close	1846.05
Change(Points)	-3.44
% Change	-0.19%
Volume	2592M
Rise	384
Fall	444
Unch	1524

Market forecast for KLCI:
Market may rebound as trend is still down and selling pressure seems to be higher

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1836	1820	1806	1854	1878	1895

Technical indicators:RSI stood below the centre line at 37.472 with its CCI at -117.485. Difference line of MACD performed at -5.827 above its signal line which performed at -3.521.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
IOICORP	4.9	1.45	PPB	14.08	-2.22
MAXIS	6.26	0.81	IHH	5	-1.96
BAT	70.6	0.51	HLFG	17.7	-1.67
GENM	4.19	0.48	RHBCAP	8.95	-1.65
PBBANK	19.12	0.42	TENAGA	12.2	-1.45

Economic Factors:

• Malaysia has revised upwards its forecast for this year’s growth to between 5.5 and 6.0%, following impressive growth in the H1 of the year.
• The ringgit opened higher today on buying demand for the local unit.
• Sunway Bhd shares appreciated 2.67% or 9.0 sen, in early trading session, as the market responded positively to the announcement that the company’s construction arm, Sunway Construction Group Bhd, will be listed soon.
• Malaysian Communications and Multimedia Commission (MCMC) is confident of achieving its target of RM600 million in content exports by year-end.
• Bursa Malaysia is expected to gain momentum this week, driven by select blue chips as investor sentiment edged up after Bank Negara Malaysia maintained the Overnight Policy Rate at 3.25 per cent.

KLCI Technical Analysis Outlook - 17 Sept

Market Review for KLCI:
The FBM KLCI index lost 3.52 points or 0.19% on Wednesday. The Finance Index fell 0.22% to 17251.07 points, the Properties Index dropped 0.31% to 1489.62 points and the Plantation Index down 0.97% to 8371.05 points. The market traded within a range of 4.69 points between an intra-day high of 1845.74 and a low of 1841.05 during the session. The day ended with the KLCI closing lower at 1843.78 points despite of positive overnight performance by Wall Street. Market sentiment was muted due to lack of fresh catalyst and local investors await the BNM policy decision for market clues.

KLCI Day Performance
Open	1841.33
High	1845.74
Low	1841.05
Close	1843.78
Change(Points)	-3.52
% Change	-0.19%
Volume	527.7M
Rise	174
Fall	258
Unch	1910

Market forecast for KLCI:
Market may rebound as trend is still down but selling pressure seems to be lower.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1836	1820	1806	1859	1880	1894

Technical indicators:
 RSI stood below the centre line at 34.068 with its CCI at -258.262. Difference line of MACD performed at -4.062 above its signal line which performed at -2382.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
ASTRO	3.32	2.15	UEMS	1.86	-2.62
MISC	6.89	1.47	GENM	4.24	-2.53
SIME	9.22	0.77	FGV	3.57	-2.19
BAT	71.2	0.56	HLFG	17.42	-1.69
MAYBANK	9.97	0.5	RHBCAP	8.97	-1.64

Economic Factors:

• The ringgit closed higher against the US dollar today as investors shifted their interest to the local note.
• Malaysian rubber prices closed mostly higher today, lifted by foreign buying following the weakening of the ringgit.
• The current account surplus and its ample domestic liquidity serve as “buffers” to potential external financial shocks to Malaysia. While the foreign share in domestic government bond markets continues to rise, the potential for interest rate volatility in the event of an outflow is mitigated by the presence of large domestic institutional investors.
• The National Information and Communications Technology (ICT) Association of Malaysia (Pikom) is proposing to the government to exempt ICT products from the Goods and Services Tax (GST).
• Malaysia and Indonesia, the world's major producers of vegetable oil, are eyeing India's US$10 billion market.
• Genting Malaysia Bhd, a unit of Southeast Asia’s largest casino operator by market value, plans to raise RM1.5 billion (US$466 million) in its debut bond sale.
• The Consumer Price Index (CPI) increased 3.3 per cent to 110.5 in August 2014 compared with 107.0 recorded in the same month last year.

Malaysian Market Financial Updates 17 Sept

Share prices on Bursa Malaysia opened lower today, despite an upbeat overnight performance on Wall Street, remained mixed at mid-morning today on lack of fresh local leads.

• The Consumer Price Index, the official barometer used to measure the inflation, is expected to indicate stability in price pressures for the month of August.
• The ringgit opened higher against the US dollar today on improved demand for the local unit, it rose the most in three weeks as a report that China is stepping up economic stimulus tempered concern a slowdown in Malaysia’s second-biggest export market will deepen.
• Malaysia Institute of Chartered Secretaries and Administrators (Maicsa) is proposing that tax breaks be accorded to companies for expenses incurred for good corporate governance compliance.
• Malaysia’s overall media advertising expenditure (adex) rose 8.7% to RM9.13 billion in the first eight months this year, compared with RM8.4 billion in the same period a year ago.
• Hong Leong Investment Bank (HLIB) is upbeat on Fitters Diversified’s maiden venture into PVC-O pipes production, which would strengthen the group’s revenue model.
• The research house said that Fitters will commence with two production lines for PVC-O pipes production in October and the company hopes to capture a 10 per cent market share by end-2015. HLIB is confident that the group’s order book will receive a boost from this.
• HLIB also said the group’s property division will sustain earnings with a 20.2 hectares leasehold project in Rawang.
• HLIB also said the group’s property division will sustain earnings with a 20.2 hectares leasehold project in Rawang.
• The MOU will see the development of urea and ammonia derivatives for the Asian agriculture industry.
• The three parties will undertake a preliminary technical, economic, raw material supply, logistics, infrastructure and utilities study for the development of the petrochemical products.
• Sarawak Cable announced last Friday that it had accepted the conditional offer made by HNG Capital for the proposed acquisition of the latter’s 100 percent stakes in Universal Cable (M) and Leader Cable Industry for RM210 million.
• According to a news report earlier, Sarawak Cable may issue up to 10 percent of new shares to fund the acquisitions and may also borrow RM110 million.
• HNG Capital will guarantee a total pre-tax profit of RM21 million for the two companies for financial year ending 31 December and will pay for any shortfall.