Bursa Malaysia KLCI Technical Analysis Outlook 8th Oct

Market Review for KLCI:
The FBM KLCI index lost 9.22 points or 0.50% on Wednesday. Finance Index fell 0.43% to 17007.37 points, Properties Index dropped 1.96% to 1418.11 points and Plantation Index down 1.61% to 8147.29 points. Market traded within a range of 7.27 points between an intra-day high of 1831.79 and a low of 1824.52 during the session.

KLCI closed lower at 9.22 points, down 1824.32 points, by the end of the trading day. The local bourse took a beating amid a global selloff trend, lead by Wall Street, triggered by fears of a weakening global economy as the IMF downgraded its global growth forecasts. Regionally, Asian markets also slid in line with the global rout, as investors also weighed in on a declining European economy and the timing of U.S. interest-rate increases. Asset safe havens like bonds and the yen experienced gains, as oil prices slip to the lowest in 2 years on oversupply.

KLCI Day Performance
Open	1830.67
High	1831.79
Low	1824.32
Close	1824.32
Change(Points)	-9.22
% Change	-0.50%
Volume	2579.7M
Rise	93
Fall	935
Unch	1333

Market forecast for KLCI:
Market fell on gap down opening and closed near to the next support, it is anticipated to continue the same.

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 center line at 29.541 with its CCI at -156.364. Difference line of MACD performed at -8.038 below its signal line which performed at -6.91.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
YTL	1.69	1.81	AMBANK	6.79	-0.73
MISC	6.9	1.47	ASTRO	3.19	-1.54
BAT	69.8	1.19	AXIATA	7.03	-0.42
HLFG	17.58	0.92	BAT	66.16	-1.28
RHBCAP	8.9	0.56	DIGI	5.84	-0.17

Economic Factors:

• The ringgit opened easier against the US dollar as the greenback rose broadly against major peers after the International Monetary Fund cut its forecast for global growth.
• KL Budget 2015 to ease inflation concerns, but will stick to fiscal cuts.
• LPI Capital Bhd posted a pre-tax profit of RM77.4 million for its Q3 ended September 30, 2014, up 7.6% from RM71.9 million in the same period last year.
• The recent reduction in the petrol and diesel subsidy will not affect the cost of the MRT Sungai Buloh-Kajang Line project, says its developer MRT Corp Sdn Bhd.
• Pelaburan Hartanah Bhd (PHB) and Maybank Asset Management Sdn Bhd today announced a final income distribution of 3.30 sen a unit for Amanah Hartanah Bumiputera (AHB) for the financial year ended September 30, 2014.
• Ireka Corporation Bhd's infrastructure arm, Ireka Engineering and Construction Sdn Bhd (IECSB), has bagged a RM276.79 million construction contract from KL Eco City Sdn Bhd.
• The Life Insurance Association of Malaysia (LIAM) has proposed that the government offer more tax relief incentives in Budget 2015 to promote financial planning among Malaysians.
• Nam Cheong Ltd, Malaysia’s biggest builder of offshore support vessels, expects record deliveries this year and next as the company’s focus on shallow-water oil search products helps it withstand a drop in crude-oil prices.
• The International Monetary Fund is upbeat about Malaysia’s growth outlook, projecting a robust 5.9 and 5.2% growth for 2014 and next year, respectively.