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.