KLSE Stock Market Report for KLCI

Market Review for KLCI: The FBM KLCI index gained 19.98 points or 1.14% on Wednesday. Finance Index increased 0.30% to 15603.35 points, Properties Index up 0.32% to 1301.94 points and Plantation Index rose 0.92% to 7838.32 points. Market traded within a range of 18.63 points between an intra-day high of 1770.09 and a low of 1751.46 during the session.

KLCI soared to 1770.09 points, mainly led by the strong gains made by PPB Group and Genting Malaysia. Trading sentiment was positive after the development expenditure in the Revised Budget kept unchanged.

FBMKLCI Day Performance

Open- 1752.9

High-1770.09

Low- 1751.46

Close- 1770.09

Change(Points)- 19.98

% Change- 1.14%

Volume- 2161.6M

Rise- 559

Fall- 287

Unch- 1797

Market forecast for KLCI: Market has maintained an uptrend, technically it stood at the resistance level 1770. Once it break that it will attain heavy gains.

Technical indicators: RSI stood below the center line at 58.058 with its CCI at 112.239. Difference line of MACD performed at -0.886 above its signal line which performed at -5.820.

KLCI LEVELS

Support 1- 1725

Support 2- 1706

Support 3- 1670

Resistance 1- 1770

Resistance 2- 1780

Resistance 3- 1830

ECONOMIC FACTORS:

• The ringgit closed lower against the US dollar today on concerns about Malaysia’s economic growth following continuous decline of oil price amid stronger US economic outlook.
• Bursa Malaysia closed higher today, supported by gains in small-capitalized counters as well as plantation and industrial-related shares, a dealer said. As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,770.09, up 19.98 points after moving between 1,751.46 and 1,770.09 throughout the day. PPB Group, Petronas Chemicals and Sime Darby were the top contributors to the composite index, adding RM1.20, 17 sen and 21 sen, to RM15.20, RM5.11 and RM9.50 respectively.

Bursa Malaysia - KLSE Daily Technical Outlook 20th Jan

The FBM KLCI index lost 3.20 points or 0.18% on Tuesday. Finance Index increased 0.18% to 15556.08 points, Properties Index up 0.05% to 1297.81 points and Plantation Index down 0.22% to 7766.66 points. Market traded within a range of 8.70 points between an intra-day high of 1754.34 and a low of 1745.64 during the session.

KLCI ended marginally lower at 1750.11 points after Prime Minister Datuk Seri Najib Razak announced the revised Budget. Investor’s reaction to the announced economic intervention measures was lukewarm as it offered little surprise to the market.

FBMKLCI Day Performance
Open  1750.11
High  1754.34
Low  1745.64
Close  1750.11
Change(Points)  -3.20
% Change  -0.18%
Volume  2014.7M
Rise  418
Fall  391
Unch  1825

Market forecast for KLCI: Market is still in a side way movement, though it is anticipated that market will move upside in this week as technically there is a resistance at 1770.

Technical indicators: RSI stood below the center line at 51.227 with its CCI at 42.518. Difference line of MACD performed at -3.267 above its signal line which performed at -7.053.

KLCI  LEVELS
Support 1  1725
Support 2  1706
Support 3  1670
Resistance 1  1758
Resistance 2  1770
Resistance 3  1789
 ECONOMIC FACTORS:

• The International Monetary Fund has cut its growth projections for emerging and developing Asian economies, including Malaysia. In its latest World Economic Outlook, the Asean 5 – Indonesia, Malaysia, the Philippines, Thailand and Vietnam will likely grow by 4.5% in 2014 (0.2% cut from its previous outlook) and 5.2% in 2015 (0.1% cut from previous outlook) . These five countries are projected to grow by 5.3% in 2016.
• Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) applauds the government’s decision to maintain the development expenditure of RM48.5 billion for 2015, and to proceed with the implementation of various infrastructure projects including MRT Line 2.
• The central bank said the current interest level at 3.25 per cent is still accommodative.
• The government today revised the country’s fiscal deficit target for 2015 to 3.2 per cent of gross domestic product (GDP), up from the 3.0 per cent set out in the Budget, in the wake of falling oil prices.
• The current economic problems are not a manifestion of something Malaysia has done wrongly as far as economic management is concerned but rather due to external shocks no thanks to the slump in crude oil prices.

Malaysia KLSE Review: KLCI Technical Analysis 19th Jan

The FBM KLCI index gained 9.74 points or 0.56% on Monday. Finance Index increased 1.05% to 15527.53 points, the Properties Index up 0.85% to 1297.22 points and the Plantation Index rose 0.10% to 7783.63 points. market traded within a range of 9.62 points between an intra-day high of 1755.12 and a low of 1745.50 during the session.

KLCI ended higher at 1753.31 points, buoyed by a rise in crude oil prices. The gains on Wall Street last Friday also helped supporting market sentiment after U.S. consumer sentiment surged to 11-year high.

FBMKLCI Day Performance

Open-1745.50

High-1755.12

Low-1745.50

Close-1753.31

Change(Points)-9.74

% Change-0.56%

Volume-1849.7M

Rise-486

Fall-324

Unch-1824

Market forecast for KLCI: Market is still in a side way movement, though it is anticipated that market will move upside in this week as technically there is a resistance at 1750.

Technical indicators: RSI stood below the center line at 52.499 with its CCI at 55.389. Difference line of MACD performed at -4.224 above its signal line which performed at -7.999.

KLCI LEVELS

Support 1- 1725

Support 2- 1706

Support 3- 1670

Resistance 1- 1758

Resistance 2- 1770

Resistance 3- 1789

ECONOMIC FACTORS:

• Hong Leong Investment (HLIB) Bank expects AirAsia Group to register stronger earnings in 2015, given the significant benefits from lower jet fuel price.
• Property developer, GuocoLand (M) Bhd, is bullish its flagship project, Damansara City, will be launched by the first quarter of this year.
• SapuraKencana Petroleum Bhd’s shares rose this morning after the group announced it was rejoining the Security Commission (SC)’s syariah list with a US$2.3 billion Islamic loan.
• Genting Bhd today announced that DNA Electronics Limited (DNAe), its indirect 82.1 per cent-owned subsidiary, has completed the acquisition of the entire issued share capital of NanoMR, Inc (NanoMR) for a total cash consideration of about US$24.0 million (US$1= RM3.57).
• Malaysia's annual inflation rate is expected to have eased slightly in December, a Reuters poll showed, as falling fuel prices offset the effects of higher food costs from severe floods.

KUALALAMPUR MALAYSIA Weekly Technical view on KLCI

The week started with FBM KLCI index gained 2.64 points at 1730.10. During the week, performance of our benchmark index was underpinned by strong gains in CIMB following news suggesting its mega merger with RHB capital and MBSB may be called off. Market sentiment was cautious amid further weakness in oil prices while investors remained concerned about the global economy after the World Bank has cut its global growth forecast on subdued performance in the EURO zone, Japan and some major economies. Yesterday KLCI ended higher after oil prices rebound the most in more than 2 1/2 years from close to six year low. This whole week index shown side way movement of almost 28 points.

The FBM KLCI index lost 1.43 points or 0.08% at 1743.57 on Friday. Finance Index fell 0.17% to 15366.83 points, Properties Index up 0.03% to 1286.28 points and Plantation Index down 0.40% to 7776.16 points. Market traded within a range of 13.89 points between an intra-day high of 1746.24 and a low of 1732.35 during the session.

The index went down following weighed down by selling in Petronas-linked and banking counters. Investor’s risk appetite were dampened by the weak lead from overnight US market due to drop in crop price and the surprise move of Swiss National Bank scrapping its three-year policy of capping the Swiss franc against the euro.

FBMKLCI Week's Performance
Open: 1740.19
High: 1746.24
Low: 1732.35
Close: 1743.57
Change (Points): 11.13
% Change: 0.64%

Market Forecast for week ahead:

The global market tone came under fresh pressure from ongoing weakness in currency and commodity markets, highlighted by a huge overnight weekly decline in the euro and yen as well as oil and copper. It is anticipated that market will move upside in the coming week as technically there is a resistance at 1750.

Technical indicators:

RSI for this week is 38.801 with CCI at 98.804. Besides, difference line of MACD 29.310 overlapping its signal line (22.339).

Support 1: 1725
Support 2:1706
Support 3:1670
Resistance 1: 1750
Resistance 2: 1770
Resistance 3: 1789

ECONOMIC FACTORS:

• SapuraKencana Petroleum Bhd signed a US$2.3 billion Islamic loan with 11 lenders - the largest Islamic facility till date. The loan will convert a portion of its existing conventional multi-currency facility (MCF) borrowings into a Shariah based facility with 11 local, regional and international banks.
• AirAsia Group to register stronger earnings in 2015, given the significant benefits from lower jet fuel price. It is assumed average yields (including surcharge) to drop 7.6 per cent in 2015 after an assumed decline of 5.8 per cent in 2014.
• The ringgit opened marginally lower against the US dollar this morning due to lack of buying support.
• Celcom Axiata Bhd will invest RM100 million in capital expenditure (capex) to ensure connectivity in flood-prone states in the east coast of Peninsular Malaysia. Its CEO said the telco recognised the importance of full connectivity in times of crisis – not only for residents within the affected areas, but also to the relief teams and organisations working round the clock to deliver aid.
• MISC Bhd’s share price on the Bursa Malaysia slipped after the company aborted the sale of its wholly-owned subsidiary, MISC Integrated Logistics Sdn Bhd (MILS).
• Asian currencies tend to depreciate against the US dollar in the 12 month period prior to a peak in oil prices and this time around, the peso is likely to be the worst performing Asian currencies, according to a study.
• The government should review the budget given the significant change in oil prices, said CIMB Group Holdings Bhd chairman. One of the targets that external observers are watching for is the budget deficit and the target of 3% budget deficit by 2015. And also here has to be clarity in terms of where Petronas dividends are going to be and what are the main drivers because the dividends are not just a function of oil price but also a function of the group's capital expenditure plans.
• The Ministry of International Trade and Industry (Miti), which aims to see intra-Asean trade grow from 24% of total trade now to 30% to 35% in the next few years, said the harmonisation of rules and regulations for the Asean Economic Community (AEC) is still a work-in-progress. The challenge is because Asean is made up of 10 countries that can be divided into different tiers in terms of per capita income, population and economic development.
• Bright Packaging Industry Bhd has entered into a purchase-sale agreement with Zao Philip Morris Izhora, a multinational tobacco manufacturing company in Russia to supply aluminium foil worth US$15 million. Intra- Asian trade is likely to expand from 24 percent to 34 percent, spurred by zero-duty incentives on Asian Free Trade Area (AFTA).
• Bursa Malaysia Securities has issued an unusual market activity query to IFCA MSC Bhd due to the recent rise in the price and volume of its shares. The counter closed 4.5 sen lower at 95 sen, with 42.05 million shares changing hands.

Stock Market Review for KLCI Malaysia 15th Jan

The FBM KLCI index gained 2.99 points or 0.17% on Thursday. Finance Index increased 1.11% to 15392.79 points, Properties Index up 0.38% to 1285.87 points and Plantation Index down 0.41% to 7807.44 points. Market traded within a range of 12.70 points between an intra-day high of 1750.94 and a low of 1738.24 during the session.

KLCI ended higher at 1745.00 points after oil prices rebound the most in more than 2 1/2 years from close to six-year low. The surge in oil prices outweighed the concerns over slowdown in global economy that indicated by the decline of US retail sales in December.

Open: 1747.54
High: 1750.94
Low: 1738.24
Close: 1745.00
Change(Points): 2.99
% Change: 0.17%
Volume: 1934.5M
Rise: 497
Fall: 283
Unch: 1846

Market forecast for KLCI: Market is still in a side way movement, though it is anticipated to show some improvement.

Technical indicators: RSI stood below the center line at 49.423 with its CCI at 34.73. Difference line of MACD performed at -6.531 above its signal line which performed at -9.752.

Support 1: 1706
Support 2: 1688
Support 3: 1668
Resistance 1: 1738
Resistance 2: 1758
Resistance 3: 1770

ECONOMIC FACTORS:

• Asian currencies tend to depreciate against the US dollar in the 12-month period prior to a peak in oil prices and, this time around, the peso is likely to be the worst performing among Asian currencies, according to a study.
• Ringgit opened higher against major currencies like US dollar, Yen, Singapore dollar, Euro and British Pound. The reason for lowring of US dollar is unfavourable US retail sales data.
• Maybank Investment Bank has recommended a "Take Profit" stance for the index today as the KLCI January 2015 futures contract moved into a larger 10.01-point discount against the FBM KLCI. We expect minor nibbling at the supports of 1,718 to 1,742, whilst heavy profit taking would be at the resistances of 1,745 and 1,770.
• Khazanah Nasional Bhd, which posted a 9.2% growth in investment portfolio for 2014, said it is ready to play a "national role" in addressing Malaysia's budget conditions despite dividends to be received from its investments could be under pressure for 2015.
• Sona Petroleum Bhd said yesterday it has "officially" terminated the sale and purchase agreement with Salamander Energy Plc on the two assets in Thailand for US$281.5 million (RM1.01 billion).
• The government should review the budget given the significant change in oil prices, said CIMB Group Holdings Bhd chairman. One of the targets that external observers are watching for is the budget deficit and the target of 3% budget deficit by 2015. And also here has to be clarity in terms of where Petronas dividends are going to be and what are the main drivers because the dividends are not just a function of oil price but also a function of the group's capital expenditure plans.
• The Ministry of International Trade and Industry (Miti), which aims to see intra-Asean trade grow from 24% of total trade now to 30% to 35% in the next few years, said the harmonisation of rules and regulations for the Asean Economic Community (AEC) is still a work-in-progress. The challenge is because Asean is made up of 10 countries that can be divided into different tiers in terms of per capita income, population and economic development.

Malaysia Stock Market KLCI Signals - 12th Jan

The FBM KLCI index gained 2.64 points or 0.15% on Monday. Finance Index fell 0.55% to 15096.96 points, Properties Index up 0.34% to 1272.45 points and Plantation Index rose 0.19% to 7813.22 points. Market traded within a range of 16.32 points between an intra-day high of 1735.08 and a low of 1718.76 during the session.

KLCI ended by 2.13 points higher at 1735.08, despite Wall Street’s decline on Friday as December jobs report topped expectations but hourly earnings declined. The gain in our benchmark index was supported by buying interest in selected heavyweight counters such as SapuraKencana, YTL and Petronas Chemical.

FBMKLCI Day Performance
Open: 1730.10
High: 1735.08
Low: 1718.76
Close: 1735.08
Change(Points): 2.64
% Change: 0.15%
Volume: 1361.4M
Rise: 394
Fall: 317
Unch: 1906

Market forecast for KLCI: Market is still in a side way movement, though it is anticipated to show some improvement over last week’s losses.

Technical indicators: RSI stood below the center line at 45.972 with its CCI at -2.097. Difference line of MACD performed at -10.455 above its signal line which performed at -11.956.

KLCI  LEVELS
Support 1: 1706
Support 2: 1688
Support 3: 1668
Resistance 1: 1738
Resistance 2: 1758
Resistance 3: 1770

ECONOMIC FACTORS:

• Tenaga Nasional Bhd (TNB) is proposing to acquire the remaining 77.88% in Integrax for about RM645m or RM2.75/share. TNB currently holds about 22.12% shares in Integrax.
• SMRT Holdings Bhd’s subsidiary, Strategic Ambience Sdn Bhd (SASB) and Creador II LLC’s unit, Arenga Pinnata Sdn Bhd (APSB), are finalising plans to acquire a 30.75 stake in Masterskill Education Bhd for RM122 million.
• Axiata Group Bhd’s shares on the Bursa Malaysia rose, in early trading this morning, riding high on the positive outlook for its 92 per cent Bangladesh subsidiary, Robi.
• Sumatec Resources Bhd has entered into a supplemental agreement with vendors to reduce the purchase price for the proposed acquisition of Borneo Energy Oil and Gas Limited by US$60 million (US$1 = RM3.57) to US$290 million.

KUALA LAMPUR MALAYSIA: Weekly Technical view on KLCI

Weekly wrap of KLCI: Market performed sideways this whole week. The FBM KLCI index gained 4.38 points or 0.25% on Friday. Finance Index fell 0.13% to 15180.13 points, Properties Index up 0.96% to 1268.09 points and Plantation Index down 0.47% to 7798.03 points. Market traded within a range of 12.73 points between an intra-day high of 1738.54 and a low of 1725.81 during the session.

KLCI rose 4.38 points to 1732.44 on the last trading day of the week, boosted by surge in overnight US market as oil steadied, hopes for continued improvement in the U.S economy and signs of a strengthening labour market. The performance of our benchmark index was supported by buying in selected heavyweight counters, led by SapuraKencana.

FBMKLCI Week's Performance
Open	1734.61
High	1738.54
Low	1725.81
Close	1732.44
Change (Points)	-20.33
% Change	-1.15

Market Forecast for week ahead: It is anticipated the once the resistance of 1740 is broken market will perform better.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1722	1715	1700	1740	1760	1770

Technical indicators: RSI for this week is 36.155 with CCI at -122.152. Besides, difference line of MACD (29.077) overlapping its signal line (20.596).

ECONOMIC FACTORS:

• Malaysia’s Industrial Production Index (IPI) grew by 4.7 per cent in November 2014 compared with the same month a year ago. The increase was due to the positive growth in all indices of manufacturing, mining and electricity.
• The ringgit opened higher against the US dollar Friday, lifted by continued buying support for the local unit. The local note was also traded firmer against other major currencies, except the British pound.
• Gold futures contract on Bursa Malaysia Derivatives opened lower today with only one contract months traded.
• The FTSE Bursa Malaysia KLCI futures (FKLI) contract on Bursa Malaysia Derivatives opened higher in tandem with the gains in the cash market.
• Industrial output is likely to have grown at a slower pace in November. The Industrial Production Index (IPI), which tracks the manufacturing, mining and electricity indices, to post an average 4.06% annualised growth.
• Land Public Transport Commission (SPAD), which was set up in 2010 to regulate the land public transport sector, reported that it has not received any proposal from Malaysia Steel Works (KL) Bhd (Masteel) for the latter's proposed RM1.23 bilion intra-city rail transit project in Johor.

Sector Allocation Chart

SECTOR	CHANGE	%CHANGE	HIGH	LOW
MINING	-	-	526.87	526.87
CONSTRUCTN	2.66	0.96	279.24	277.24
PROPERTIES	12.03	0.96	1,270.44	1,263.28
IND-PROD	0.87	0.7	124.96	124.25
CONSUMER	3.79	0.69	555.15	551.77
TRAD/SERV	1.26	0.55	229.86	228.47
TECHNOLOGY	0.08	0.46	17.66	17.44
INDUSTRIAL	9.51	0.3	3,173.71	3,157.88
FINANCE	-19.24	-0.13	15,209.19	15,091.33
PLANTATION	-36.84	-0.47	7,884.58	7,795.38

Malaysia Stock Market Review 8th Jan

The FBM KLCI index gained 18.88 points or 1.10% on Thursday. Finance Index increased 0.78% to 15199.37 points, Properties Index up 0.26% to 1256.06 points and Plantation Index rose 1.70% to 7834.87 points. Market traded within a range of 16.16 points between an intra-day high of 1730.18 and a low of 1714.02 during the session.

KLCI reversed previous day’s losses after ending 18.18 points higher at 1728.06, buoyed by the rebound in overnight US market following the upbeat US employment data and declaration from the Federal Reserve that it was not quite ready to lift up interest rates just yet. The performance of our benchmark index was lifted by buying interest in heavyweight counters, led by KL Kepong and SapuraKencana.

Market forecast for KLCI: Players welcomed the local lead after weeks of being spooked by global crude oil price bearishness, citing Malaysia’s November 2014 export data released yesterday, which saw the country’s trade surplus at its highest in three years, successfully attracting buyers.

Technical indicators: RSI stood below the center line at 43.584 with its CCI at -24.184. Difference line of MACD performed at -11.810 above its signal line which performed at -12.604.

ECONOMIC FACTORS:

• The Malaysian ringgit pulled off 5-1/2-year lows against the dollar while other Asian currencies steadied on Thursday, as a pause in sliding global oil prices and better U.S. jobs data put a floor under emerging markets and other riskier assets.
• IJM Corporation Bhd (IJM Corp) expects to finalise the full privatisation of IJM Land Bhd by April this year after obtaining unanimous shareholders approval at the Extraordinary General Meeting (EGM) here, this morning.
• The gold futures contract on Bursa Malaysia Derivatives was lower at mid-day today.
• The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts (FKLI) on Bursa Malaysia Derivatives traded higher at mid-day today as traders turned more bullish in tandem with the trend on the cash market.

Stocks Malaysia: KLCI Techincal Analysis Outlook 6th Jan

Index lost 20.04 points or 1.15% on Tuesday. Finance Index fell 1.78% to 15198.57 points, Properties Index dropped 1.53% to 1254.91 points and Plantation Index down 0.51% to 7712.17 points. Market traded within a range of 22.16 points between an intra-day high of 1730.94 and a low of 1708.78 during the session.

The KLCI extended yesterday’s loss by ending 20.04 points lower at 1716.58, tracking the overnight losses in Wall Street. Our benchmark index was weighed down by continuous selling in banking stocks and Petronas Chemical. Investors risk appetite was further dampened by external headwinds as oil prices declined to its lowest level since April 2009, disappointing economic data in Germany, and the political uncertainty in Greece.

KLCI Day Performance
Open	1730.94	% Change	-1.15
High	1730.94	Volume	1637.9M
Low	1708.78	Rise	180
Close	1716.58	Fall	639
Change(Points)	-20.040	Unch	920

Market forecast for KLCI:
The KLCI trend is moving in down side, so it may cross 1710-1700. The uncertainty in Greece concerning monetary easing discussions and China's trade figure, are expected to affect future market performance.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1700	1680	1660	1730	1750	1770

Technical indicators:RSI stood below the center line at 38.487 with its CCI at -49.851. Difference line of MACD performed at -9.963 below its signal line which performed at -13.023.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
YTL	1.61	1.26	UEMS	1.31	-5.76
MAXIS	6.75	-0.15	PCHEM	5.01	-3.47
DIGI	6.13	-0.16	GENTING	8.43	-3.44
PETGAS	21.78	-0.18	HLBANK	13.88	-2.66
PPB	14.08	-0.28	UMW	10.62	-2.39

Economic Factors:

• Asian shares slumped on Tuesday as sliding oil prices and political uncertainty in Greece forced investors out of riskier assets and into the safety of government bonds, while the euro wallowed near nine-year lows..
• Century Logistics Holdings Bhd, an integrated logistics services provider, squashed talks that its major shareholders are selling out their stakes in the company.
• VS Industry Bhd, one of the world's top-50 electronics manufacturing services providers, is focusing its resources on niche products for the export market, amid the competitive business environment.
• Malaysia's finance ministry has asked government-linked companies (GLCs) and statutory bodies to temporarily halt purchases of foreign assets, in response to falling commodity prices and in a bid to contain capital outflows.
• Malaysia Development Bhd’s (1MDB) Mohd Hazem Abd Rahman resigned as its managing director and chief executive officer (CEO) as part of a transition plan, says chairman Tan Sri Lodin Wok Kamaruddin.

Bursa Malaysia: Stock Market Review for KLCI 5th Jan

The benchmark FTSE Bursa Malaysia KLCI declined 16.15 points to 1,736.62 after moving between 1,734.51 and 1,759.15 throughout the day. Shares on Bursa Malaysia closed lower today on selling of finance counters. Banking stocks stole the focus in today’s trading in light of the new base rate (BR) mechanism implementation by Bank Negara Malaysia from Jan 2, 2015.

Losers outpaced gainers by 502 to 271 while 966 counters were unchanged. Turnover stood at 1468.2 million. Finance Index fell 175.801 points to 15,486.14, Plantation Index declined 40.4 points to 7,770.55 and Industrial Index eased 15.17 points to 3,141.57.

FBMKLCI Day Performance

Open: 1758.43

High: 1759.15

Low: 1734.51

Close: 1736.62

Change (in Points): -16.15

%Change: -0.92

Volume: 1468.2 M

Rise: 271

Fall: 502

Unch: 966

Market forecast for KLCI: The market is gloomy and trend is down. It is now anticipated that after breaking previous low of 1752.77, it will likely to move till 1720 or may cross.

Technical indicators: RSI stood below the center line at 43.489 with its CCI at 24.265. Difference line of MACD performed at -8.075 below its signal line which performed at -13.788.

KLCI LEVELS

Support 1: 1720

Support 2: 1700

Support 3: 1670

Resistance 1: 1748

Resistance 2: 1765

Resistance 3: 1790

ECONOMIC FACTORS:

• The construction sector is overweight on strong prospects, mainly backed by the RM73 billion Klang Valley Mass Rapid Transit (MRT) and other mega public infrastructure projects.
• Businesses in Malaysia will focus on improving their sales force effectiveness in facing the challenging global economy,Business owners are rethinking their sales strategies, sales processes, reward plans, training and other aspects, to improve their businesses.
• The Ministry of International Trade and Industries (MITI) is optimistic of this year's trade outlook despite the local currency weakening and declining crude oil price.
• The ringgit opened lower against the US dollar today as the greenback continued to strengthen against other major currencies.
• Short-term interbank rates are expected to remain stable today on Bank Negara Malaysia (BNM)’s intervention to absorb excess liquidity from the financial system.
• Gold futures contracts on Bursa Malaysia Derivatives closed lower today impacted by the weakening of the ringgit against the US dollar.
• Puncak Niaga Holdings Berhad (PNHB) will be voting on the Selangor state government's plan to takeover PNHB in an extraordinary general meeting (EGM) on Wednesday.P elaburan Hartanah Nasional Bhd (PHNB) is now wholly owned by Permodalan Nasional Bhd (PNB) after PNB acquired the remaining 30 per cent stake from Malayan Banking Bhd (Maybank) last month.
• Bamboo product manufacturer Kanger International Bhd plans to raise up to RM100 million via a redeemable convertibles notes (RCN) programme for expansion into property investment and management.