Malaysia Stocks: KLCI Technical Report 3rd Nov

Market Review for KLCI:
The FBM KLCI index lost 1.81 points or 0.10% on Monday. Finance Index fell 0.18% to 16796.57 points, Properties Index up 0.18% to 1464.34 points and Plantation Index down 0.53% to 8508.54 points. Market traded within a range of 9.84 points between an intra-day high of 1858.09 and a low of 1848.25 during the session.

KLCI started the first trading day of the week in negative territory by finishing 1.81 points lower at 1853.34, despite Friday’s jump in Wall Street as an unexpected boost in stimulus from the Bank of Japan spurred optimism in the global economy. Our benchmark index were bogged down by selling in banking counters such as CIMB, Public Bank and RHB Capital.

KLCI Day Performance
Open	1856.82
High	1858.09
Low	1848.25
Close	1853.34
Change(Points)	-1.81
% Change	-0.10%
Volume	1863.0M
Rise	422
Fall	449
Unch	1579

Market forecast for KLCI:
As Bursa Malaysia opened higher but dropped in mid-morning, it is likely to be in a consolidation mode this week as investors remained cautious amid uncertainty in the local stock market, despite closing higher last week.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1835	1813	1796	1860	1880	1895

Technical indicators:RSI stood below the center line at 61.871 with its CCI at 127.112. Difference line of MACD performed at 1.552 below its signal line which performed at 6.290.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
TM	7.28	1.11	FGV	3.55	-3.01
TENAGA	13.5	1.05	PETGAS	21.94	-2.4
MAXIS	6.81	1.04	CIMB	6.41	-1.23
PETDAG	20.52	0.59	SKPETRO	3.39	-0.59
MIS	6.9	0.58	UEMS	1.87	-0.53

Economic Factors:

• Malaysia Building Society Bhd's (MBSB) pre-tax profit for the third quarter (Q3) ended September 30, 2014, grew to RM267.42 million from RM196.24 million recorded in the same quarter last year.
• Malaysia Airport Holdings Bhd's (MAHB) pre-tax profit for the third quarter ended September 30, 2014 slumped to RM10.61 million from RM151.12 million in the same period last year.
• Malaysia’s ringgit fell to a seven- month low amid demand for the dollar after the Bank of Japan increased stimulus and on signs Chinese growth is slowing.
• In an effort to help mitigate the downtrend in crude palm oil (CPO) price, the government has decided to extend the removal of the CPO export duty to December this year, said Plantation Industries and Commodities Minister, Datuk Seri Douglas Uggah Embas.
• Palm oil surged to a three-month high on expectations that an increase in the biodiesel mandate in Malaysia and the biggest monthly rally in soybeans since 2012 will boost demand for the world’s most used cooking oil.
• Celcom Axiata Bhd and Korea-based SK Planet have collaborated to form a joint-venture company, Celcom Planet, to explore, seek and pursue e-Commerce business opportunities in Malaysia.
• TA Investment Management Bhd has declared a gross income distribution of 0.9 sen per unit for the TA Asian Dividend Income Fund (TADIF) and 1.5 sen per unit for TA Asia Pacific REITs Income Fund (TAREITs) for registered unit holders of the funds as at October 31, 2014.