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.