KLCI Market Review, Forecast, Technical Indicators & Economic Factors 9th Oct

Market Review for KLCI:
The FBM KLCI index gained 5.41 points or 0.30% on Thursday. Finance Index fell 0.02% to 17003.7 points, Properties Index up 0.87% to 1430.43 points and Plantation Index rose 1.34% to 8256.37 points. Market traded within a range of 5.85 points between an intra-day high of 1830.80 and a low of 1824.95 during the session. KLCI rebounded from yesterday’s losses by ending 5.41 points higher at 1829.73, underpinned by gains in plantation counters such as KLK, FGV and IOI Corp. Investors sentiment was boosted by overnight gains in Wall Street following the expectation that the Federal Reserve would keep interest rates low, amid weaker global economic forecasts. 

KLCI Day Performance
Open	1825.18
High	1830.80
Low	1824.95
Close	1829.73
Change(Points)	5.41
% Change	0.30%
Volume	1814.7M
Rise	609
Fall	229
Unch	1523

Market forecast for KLCI:
Market seems to be rebounded and buying pressure is seen today, still in down trend.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1821	1805	1779	1853	1871	1895

Technical indicators:RSI stood below the center line at 143.412 with its CCI at 35.36. Difference line of MACD performed at -8.296 below its signal line which performed at -7.092.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
KLK	21.04	2.43	UEMS	1.73	-1.14
FGV	3.49	2.05	HLBANK	14.36	-0.69
IOICORP	4.84	1.89	MISC	6.76	-0.44
YTL	1.69	1.81	MAYBANK	9.85	-0.4
GENM	4.11	1.73	PCHEM	6.22	-0.32

Economic Factors:

• The ringgit advanced by the most in six months on speculation the Federal Reserve will delay raising interest rates and on optimism Malaysia’s budget will outline commitments to improve finances.
• Malaysian rubber prices retreated to close mostly lower today on the back of better ringgit performance that curbed buying interest among foreign buyers.
• Malaysia's economic growth next year is expected to outpace the International Monetary Fund's (IMF) revised global economic growth of 3.8 per cent.
• Expected that new policies to be announced in the 2015 Budget which will be tabled in Parliament tomorrow to ensure the country's sustainable growth over the short, medium and long-term.
• Palm oil prices are expected to average RM2,300-RM2,400 per tonne in the fourth quarter this year.