Malaysia Stock Market Updates for KLCI 2nd Dec

Market Review for KLCI:
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 7.56 points lower at lunch break at 1,770.71 on bargain hunting activity earlier today.

Investors are being cautious and are waiting on the sidelines, while waiting for some indication that the local bourse will stabilize.

KLCI Day Performance
Open	1779.54	% Change	0.43%
High	1789.42	Volume	2161.2M
Low	1763.55	Rise	439
Close	1785.97	Fall	400
Change(Points)	7.70	Unch	1712

Market forecast for KLCI:
Technically it formed a double top pattern and expected it follow the tendency of that pattern to led rebound to the market condition.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1740	1720	1700	1790	1805	1820

Technical indicators:RSI stood below the center line at 37.214 with its CCI at -237.044. Difference line of MACD performed at -5.963 below its signal line which performed at -2.2264.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
BAT	70.5	-3.42	PCHEM	5.5	7.21
HLFG	16.8	-2.33	GENTING	9.45	3.39
PPB	15	-2.09	CIMB	5.8	3.2
HLBANK	14.02	-1.82	ASTRO	3.44	2.99
UMW	10.92	-1.62	YTL	1.61	2.55

Economic Factors:

• The ringgit opened higher against the US dollar, in early trade, lifted by renewed buying interest for the domestic currency. The ringgit rose against the US dollar at close today in tandem with most emerging Asian currencies following a sharp rebound in crude oil prices from its five-year lows.
• Malaysia is well on track towards achieving the 3.5 deficit target of the gross domestic growth for this year.
• US stocks fell in a broad decline on Monday, with the S&P 500 suffering its biggest one-day drop in more than a month, as economic data indicated weakness across the globe and the holiday shopping season got off to a tepid start.
• Ping An Insurance Group Co of China Ltd, China’s second-largest insurer by market capitalisation, is planning to raise HK$36.8 billion (RM16.34 billion) in a private placement of its H-shares. The insurer will issue 594.056 million new H Shares at HK$62 per share to between six and 10 investors. The placing price is at a discount of about 4.7% to Friday’s closing price of HK$65.05.
• Gold futures contracts on Bursa Malaysia Derivatives erased earlier losses to end higher yesterday, tracking gains in the New York Commodity Exchange’s (Comex) gold futures.
• Shares in MOL Global Inc, the first Malaysian company to list in the United States, fell more than 60 per cent on Monday after the online payments company reported accounting errors at its Vietnam unit and a 61.5 per cent fall in net profit.