Malaysia Stock Market Technical Analysis Outlook 9th Dec

Market Review for KLCI:
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) extended its earlier losses to close the morning session 3.62 points lower at 1,737.22 at midday Tuesday, as selling in blue chips coupled with weaker oil prices weighed on demand.

KLCI Day Performance
Open	1741.17	% Change	-0.16%
High	1741.31	Volume	1443.3M
Low	1730.77	Rise	216
Close	1738.10	Fall	647
Change(Points)	-2.74	Unch	1709

Market forecast for KLCI:
the market continued to be affected by the fall in crude oil prices, which remained at about US$65 (RM226.85) per barrel. It may continue to be in bearish mode.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1730	1700	1660	1770	1790	1813

Technical indicators:  RSI stood below the center line at 27.944 with its CCI at -149.192. Difference line of MACD performed at -21.362 below its signal line which performed at -12.497.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
FGV	2.85	-4.04	TM	6.9	3.92
SKPETRO	2.45	-2.78	HLBANK	14.3	2.44
PETGAS	21.5	-2.18	ASTRO	3.33	2.15
UEMS	1.64	-1.8	RHBCAP	7.75	1.17
PPB	13.62	-1.45	MAXIS	6.62	1.07

Economic Factors:

• The ringgit opened slightly firmer against the U.S. dollar today on profit taking but the local unit was softer against other major currencies.
• The weaker ringgit is a boon to the country as it makes Malaysian exports more competitive.
• Malaysia can expect a modest increase in investments in the manufacturing sector this year, bolstered by investments in the electrical and electronics (E&E) sector.
• Wah Seong Corp Bhd, via its indirect subsidiary P.M.T.I Energy (Cambodia) Co Ltd (PMTIEC), is venturing into a biomass power plant project in Cambodia by supplying electric energy to Baitang (Kampuchea) Plc for 20 years.