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.