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.