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
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:
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.
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