Bursa Malaysia Stock Market : KLCI Updates 3rd Dec

Market Review for KLCI:
The FBM KLCI index lost 27.82 points or 1.56% on Wednesday. Finance Index fell 1.91% to 15648.63 points, Properties Index dropped 0.81% to 1345.72 points and Plantation Index down 1.02% to 8081.04 points. Market traded within a range of 30.89 points between an intra-day high of 1789.04 and a low of 1758.15 during the session.

The day ended with the KLCI closing sharply lower at 1758.15 points, as the subdued crude oil and palm oil prices weighed on weak market sentiment. The performance of our benchmark index was bogged down by selling in banking counters such as Hong Leong Financial, CIMB, RHB Capital and Maybank.

KLCI Day Performance
Open	1788.15	% Change	-1.56%
High	1789.04	Volume	1560.1M
Low	1758.15	Rise	197
Close	1758.15	Fall	678
Change(Points)	-27.82	Unch	1679

Market forecast for KLCI:
Market is anticipated to fall more as broke its major support level.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1742	1717	1685	1789	1805	1824

Technical indicators:RSI stood below the center line at 30.83 with its CCI at -236.325. Difference line of MACD performed at -9.981 below its signal line which performed at -3.808.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
UEMS	1.73	1.17	HLFG	15.96	-5
PETDAG	14.94	1.08	SKPETRO	2.44	-4.69
MAXIS	6.84	0.88	ASTRO	3.29	-4.36
UMW	11	0.73	CIMB	5.57	-3.97
AXIATA	6.94	-0.14	PCHEM	5.3	-3.64

Economic Factors:

• Takaful Ikhlas Bhd is confident the gross contributions for its financial year ending March 31, 2015 (FY15) will hit RM800 million, up from RM772 million in FY14, driven by its newly launched and final quarter awareness programmes.
• Alliance Research has lowered its growth forecast for the economy from 5.2 per cent to 5.0 per cent for 2015 on expectations of softening consumption and export growth.
• Brahim's Holdings Bhd, following the company's joint venture (JV) with Australian-based Carpenter Beef Pty Ltd, for the development of the Cataby Abattoir in Perth.
• Malaysia underlying economic fundamentals continue to be strong despite the apparent free fall in global crude oil prices, which have roiled markets worldwide, including the local equity and currency markets.
• Hong Leong Investment Bank (HLIB) noted that the recent 3Q results of public-listed companies were disappointing, including those in the automotive, banking, building materials, construction, consumer goods, gaming, media, oil and gas, plantation, property and telecommunications sectors.