KLCI Weekly Technical Analysis Outlook

The week started with bullish movement and ended the week on a positive note on Friday. On weekly basis KLCI moved within the range of 1600.70 to 1691.93 and ended the week in a range bound phase, closed 65.85 points positive. On Friday KLCI extended its midday losses by ending lower at 1669.45 points as investors were taking profit after the index’s rally in the past three days. The performance of our local bourse was bogged down by selling in heavy weight counters such as Sime Darby, CIMB and YTL Corp.

The FBM KLCI index lost 12.09 points or 0.72% on Friday. The Finance Index increased 0.00% to 14556.72 points, the Properties Index up 0.07% to 1160.27 points and the Plantation Index down 1.04% to 7108.62 points. The market traded within a range of 22.84 points between an intra-day high of 1684.40 and a low of 1661.56 during the session.

Market Forecast for week ahead:

We are expecting that market will continue its positive movement in coming week supported by the positive measures taken by the local government and the decision to hold on the interest rates hike by the US central bank. The market can take support at the level of 1660 and starts the positive movement from there.
Technical indicators:

RSI for this week is 44.406 with CCI at -54.943. Besides, difference line of MACD -46.884 below its signal line at -40.222.

Global factors and world Indices

• The Federal Reserve held its key interest rate locked at zero Thursday, citing worries about how the slowdown in China will hit the US economy.
• Malaysia's inflation in August likely cooled to 3.0 per cent on lower fuel prices and after the Muslim Eid al-Fitr celebrations, a Reuters poll showed on Friday.
• Ringgit was set to snap the longest run of weekly declines in more than four decades after the US refrained from raising interest rates and a rally in the price of Brent crude improved prospects for the net oil exporter.
• Malaysia's trade with China, already past the USD100 billion level, can be expanded further by looking at new products and industries, Minister of International Trade and Industry II Datuk Seri Ong Ka Chuan said.
• Malaysia construction sector is going to be hit hard if the government does not extend the status of migrant workers under the 6P programme, which will expire end of the year
• Hong Kong equities traced most Asian markets higher Friday as traders welcomed the Federal Reserve's decision to keep interest rates at record lows, while Shanghai ended another volatile week on a positive note. Hang Seng Index added 0.30 per cent, or 66.20 points, to close at 21,920.83
• China stocks ended a volatile week slightly higher on Friday, after the US Federal Reserve held off from raising interest rates citing concerns about a weak world economy. Index of the largest listed companies in Shanghai and Shenzhen rose 0.4 per cent, to 3,251.27, but was down 2.9 per cent for the week.
• The Nikkei 225 index at the Tokyo Stock Exchange dropped 1.96 per cent, or 362.06 points, to close at 18,070.21, while the broader Topic index of all first-section shares was down 1.98 per cent, or 29.53 points, at 1,462.38.
• US central bank's decision to hold off hiking interest rates sent emerging market currencies and most Asian markets advancing on Friday, as concerns eased over an outflow of cash as the global economy suffers a painful slowdown.
• Australian shares ended higher on Friday, shaking off a negative lead from Wall Street after the head of the central bank made reassuring comments about the economy.
• Bank of Japan policy makers agreed that emerging economies had suffered from weak growth but were likely to improve from a longer-term perspective, minutes of the central bank's August policy meeting.
• Gold dropped from a two-week high on Friday, giving back some of the sharp gains from the last two days, as the Federal Reserve's decision to hold US interest rates steady this week added to uncertainty over the timing of an eventual rate hike.
• Oil markets were weak on Friday as fresh signs Opec will continue to value market share over prices outweighed expectations of a lift when the United States kept interest rates at historic lows.

Malaysian Palm Oil Price Down on Stronger Ringgit

KUALA LUMPUR: Malaysian palm oil futures dropped on Thursday due to market corrections and a strengthening ringgit.

The benchmark December palm oil contract on the Bursa Malaysia Derivatives Exchange closed 2.9 percent lower on Thursday at 2,128 ringgit ($500.71) a tonne, after seeing consecutive rises in the last two weeks.

Traded volume stood at 66,318 lots of 25 tonnes each, well above the average 35,000 lots usually traded in a day.

The ringgit gaining against the dollar is the main factor for the downtrend, said a trader based in Kuala Lumpur, but traders are also taking profit after the market went up in the last ten days.

"It was a bit of an expected correction as the market run up was too fast," he said. "Prices should find support again at 2,100 ringgit."

The ringgit strengthened against the dollar on Thursday by 0.7 percent, reaching 4.2500 per dollar on Thursday. It is emerging Asia's worst performing currency, having lost about 18 percent so far this year. A weaker ringgit usually lends some support to palm prices.

Palm oil may drop to 2,068 ringgit per tonne as it has broken a support at 2,132 ringgit, said Reuters market analyst Wang Tao.

In other vegetable oil markets, the most active January soybean oil contract on the Dalian Commodity Exchange was down 0.15 percent, while the U.S. December soyoil contract lost 0.9 percent.

Oil prices fell below $50 a barrel on Thursday on weak Japanese data, drawing concerns on global growth prospects and outweighing the impact of declining U.S. crude oil stocks.

Palm oil often takes price direction from crude oil, as vegetable oils are increasingly used in making renewable fuels.

Palm, soy and crude oil prices at 1016 GMT
                                                                    
  Contract        Month     Last   Change     Low    High  Volume
  MY PALM OIL      OCT5    2055   -52.00    2050    2095     385
  MY PALM OIL      NOV5    2095   -53.00    2091    2135   16040
  MY PALM OIL      DEC5    2128   -64.00    2125    2178   32158
  CHINA PALM OLEIN JAN6    4276    -8.00    4270    4328 1018844
  CHINA SOYOIL     JAN6    5384    -8.00    5382    5430  527706
  CBOT SOY OIL     DEC5   26.64    +0.00   26.60   26.91    5658
  INDIA PALM OIL   SEP5    0.00    +0.00    0.00    0.00       0
  INDIA SOYOIL     OCT5    0.00    +0.00    0.00    0.00       0
  NYMEX CRUDE      OCT5   46.51    -0.64   46.33   47.57   32931
                                                                    
  Palm oil prices in Malaysian ringgit per tonne
  CBOT soy oil in U.S. cents per pound
  Dalian soy oil and RBD palm olein in Chinese yuan per tonne
  India soy oil in Indian rupee per 10 kg
  Crude in U.S. dollars per barrel

($1 = 4.2500 ringgit)
($1 = 66.1500 Indian rupees)
($1 = 6.3645 Chinese yuan)
- Reuters

Source : The Star
- See more at: http://www.mpoc.org.my/Malaysian_palm_oil_price_down_on_stronger_ringgit.aspx#sthash.dhVUdc8B.dpuf

KUALA LUMPUR: Malaysian palm oil futures dropped on Thursday due to market corrections and a strengthening ringgit.

The benchmark December palm oil contract on the Bursa Malaysia Derivatives Exchange closed 2.9 percent lower on Thursday at 2,128 ringgit ($500.71) a tonne, after seeing consecutive rises in the last two weeks. 

Traded volume stood at 66,318 lots of 25 tonnes each, well above the average 35,000 lots usually traded in a day.

The ringgit gaining against the dollar is the main factor for the downtrend, said a trader based in Kuala Lumpur, but traders are also taking profit after the market went up in the last ten days.

"It was a bit of an expected correction as the market run up was too fast," he said. "Prices should find support again at 2,100 ringgit."

The ringgit strengthened against the dollar on Thursday by 0.7 percent, reaching 4.2500 per dollar on Thursday. It is emerging Asia's worst performing currency, having lost about 18 percent so far this year. A weaker ringgit usually lends some support to palm prices.

Palm oil may drop to 2,068 ringgit per tonne as it has broken a support at 2,132 ringgit, said Reuters market analyst Wang Tao.

In other vegetable oil markets, the most active January soybean oil contract on the Dalian Commodity Exchange was down 0.15 percent, while the U.S. December soyoil contract lost 0.9 percent.

Oil prices fell below $50 a barrel on Thursday on weak Japanese data, drawing concerns on global growth prospects and outweighing the impact of declining U.S. crude oil stocks.

Palm oil often takes price direction from crude oil, as vegetable oils are increasingly used in making renewable fuels.

Palm, soy and crude oil prices at 1016 GMT
                                                                     
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      OCT5    2055   -52.00    2050    2095     385
  MY PALM OIL      NOV5    2095   -53.00    2091    2135   16040
  MY PALM OIL      DEC5    2128   -64.00    2125    2178   32158
  CHINA PALM OLEIN JAN6    4276    -8.00    4270    4328 1018844
  CHINA SOYOIL     JAN6    5384    -8.00    5382    5430  527706
  CBOT SOY OIL     DEC5   26.64    +0.00   26.60   26.91    5658
  INDIA PALM OIL   SEP5    0.00    +0.00    0.00    0.00       0
  INDIA SOYOIL     OCT5    0.00    +0.00    0.00    0.00       0
  NYMEX CRUDE      OCT5   46.51    -0.64   46.33   47.57   32931
                                                                     
  Palm oil prices in Malaysian ringgit per tonne
  CBOT soy oil in U.S. cents per pound
  Dalian soy oil and RBD palm olein in Chinese yuan per tonne
  India soy oil in Indian rupee per 10 kg
  Crude in U.S. dollars per barrel

($1 = 4.2500 ringgit)
($1 = 66.1500 Indian rupees)
($1 = 6.3645 Chinese yuan)
- Reuters
Source : The Star
- See more at: http://www.mpoc.org.my/Malaysian_palm_oil_price_down_on_stronger_ringgit.aspx#sthash.dhVUdc8B.dpuf

KUALA LUMPUR: Malaysian palm oil futures dropped on Thursday due to market corrections and a strengthening ringgit.

The benchmark December palm oil contract on the Bursa Malaysia Derivatives Exchange closed 2.9 percent lower on Thursday at 2,128 ringgit ($500.71) a tonne, after seeing consecutive rises in the last two weeks. 

Traded volume stood at 66,318 lots of 25 tonnes each, well above the average 35,000 lots usually traded in a day.

The ringgit gaining against the dollar is the main factor for the downtrend, said a trader based in Kuala Lumpur, but traders are also taking profit after the market went up in the last ten days.

"It was a bit of an expected correction as the market run up was too fast," he said. "Prices should find support again at 2,100 ringgit."

The ringgit strengthened against the dollar on Thursday by 0.7 percent, reaching 4.2500 per dollar on Thursday. It is emerging Asia's worst performing currency, having lost about 18 percent so far this year. A weaker ringgit usually lends some support to palm prices.

Palm oil may drop to 2,068 ringgit per tonne as it has broken a support at 2,132 ringgit, said Reuters market analyst Wang Tao.

In other vegetable oil markets, the most active January soybean oil contract on the Dalian Commodity Exchange was down 0.15 percent, while the U.S. December soyoil contract lost 0.9 percent.

Oil prices fell below $50 a barrel on Thursday on weak Japanese data, drawing concerns on global growth prospects and outweighing the impact of declining U.S. crude oil stocks.

Palm oil often takes price direction from crude oil, as vegetable oils are increasingly used in making renewable fuels.

Palm, soy and crude oil prices at 1016 GMT
                                                                     
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      OCT5    2055   -52.00    2050    2095     385
  MY PALM OIL      NOV5    2095   -53.00    2091    2135   16040
  MY PALM OIL      DEC5    2128   -64.00    2125    2178   32158
  CHINA PALM OLEIN JAN6    4276    -8.00    4270    4328 1018844
  CHINA SOYOIL     JAN6    5384    -8.00    5382    5430  527706
  CBOT SOY OIL     DEC5   26.64    +0.00   26.60   26.91    5658
  INDIA PALM OIL   SEP5    0.00    +0.00    0.00    0.00       0
  INDIA SOYOIL     OCT5    0.00    +0.00    0.00    0.00       0
  NYMEX CRUDE      OCT5   46.51    -0.64   46.33   47.57   32931
                                                                     
  Palm oil prices in Malaysian ringgit per tonne
  CBOT soy oil in U.S. cents per pound
  Dalian soy oil and RBD palm olein in Chinese yuan per tonne
  India soy oil in Indian rupee per 10 kg
  Crude in U.S. dollars per barrel

($1 = 4.2500 ringgit)
($1 = 66.1500 Indian rupees)
($1 = 6.3645 Chinese yuan)
- Reuters
Source : The Star
- See more at: http://www.mpoc.org.my/Malaysian_palm_oil_price_down_on_stronger_ringgit.aspx#sthash.dhVUdc8B.dpuf

KUALA LUMPUR: Malaysian palm oil futures dropped on Thursday due to market corrections and a strengthening ringgit.

The benchmark December palm oil contract on the Bursa Malaysia Derivatives Exchange closed 2.9 percent lower on Thursday at 2,128 ringgit ($500.71) a tonne, after seeing consecutive rises in the last two weeks. 

Traded volume stood at 66,318 lots of 25 tonnes each, well above the average 35,000 lots usually traded in a day.

The ringgit gaining against the dollar is the main factor for the downtrend, said a trader based in Kuala Lumpur, but traders are also taking profit after the market went up in the last ten days.

"It was a bit of an expected correction as the market run up was too fast," he said. "Prices should find support again at 2,100 ringgit."

The ringgit strengthened against the dollar on Thursday by 0.7 percent, reaching 4.2500 per dollar on Thursday. It is emerging Asia's worst performing currency, having lost about 18 percent so far this year. A weaker ringgit usually lends some support to palm prices.

Palm oil may drop to 2,068 ringgit per tonne as it has broken a support at 2,132 ringgit, said Reuters market analyst Wang Tao.

In other vegetable oil markets, the most active January soybean oil contract on the Dalian Commodity Exchange was down 0.15 percent, while the U.S. December soyoil contract lost 0.9 percent.

Oil prices fell below $50 a barrel on Thursday on weak Japanese data, drawing concerns on global growth prospects and outweighing the impact of declining U.S. crude oil stocks.

Palm oil often takes price direction from crude oil, as vegetable oils are increasingly used in making renewable fuels.

Palm, soy and crude oil prices at 1016 GMT
                                                                     
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      OCT5    2055   -52.00    2050    2095     385
  MY PALM OIL      NOV5    2095   -53.00    2091    2135   16040
  MY PALM OIL      DEC5    2128   -64.00    2125    2178   32158
  CHINA PALM OLEIN JAN6    4276    -8.00    4270    4328 1018844
  CHINA SOYOIL     JAN6    5384    -8.00    5382    5430  527706
  CBOT SOY OIL     DEC5   26.64    +0.00   26.60   26.91    5658
  INDIA PALM OIL   SEP5    0.00    +0.00    0.00    0.00       0
  INDIA SOYOIL     OCT5    0.00    +0.00    0.00    0.00       0
  NYMEX CRUDE      OCT5   46.51    -0.64   46.33   47.57   32931
                                                                     
  Palm oil prices in Malaysian ringgit per tonne
  CBOT soy oil in U.S. cents per pound
  Dalian soy oil and RBD palm olein in Chinese yuan per tonne
  India soy oil in Indian rupee per 10 kg
  Crude in U.S. dollars per barrel

($1 = 4.2500 ringgit)
($1 = 66.1500 Indian rupees)
($1 = 6.3645 Chinese yuan)
- Reuters
Source : The Star
- See more at: http://www.mpoc.org.my/Malaysian_palm_oil_price_down_on_stronger_ringgit.aspx#sthash.dhVUdc8B.dpuf

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Malaysian Intraday Stock Picks
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Quarterly	700 SGD	629 SGD
Half yearly	1300 SGD	999 SGD
Yearly	2300 SGD	1799 SGD

  

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Happy Malaysia Day - 16 Sept 2015

 Malaysia Day is celebrated on September 16 as the Malaysian federation is established on September 16 of 1963. When East Malaysian states of Sabah & Sarawak and the former British territory of Singapore united the Federation of Malaya, they created the Malaysian Federation. The Singapore only remained in the federation for two years, which had leaved on August 9 1965.

The date august 9 was decided for June 1 1963, but it was delayed; as the date August 31 had coincided with an older national day and also delayed again to allow referendums to take place in certain regions.

Malaysia Day has considered as a National holiday since 2010. On this day, there are several activities are involved that encourages the spirit of Malaysia. The activities are celebrated with formal events such as a parade to celebrate the historical moment. In addition, the day reminds them about their struggle period to achieve independence.

Malaysia day is all about celebrating the moment of independence. The day encourages the people to celebrate the event with complete freedom.
Wishing You a Pleasant Malaysia Day

Weekly Technical View on KLCI - Bursa Malaysia

The week started bearish with heavy loss with dropping 46.26 points on Tuesday and traded sideways with mixed sentiments throughout the week and made a weekly loss of 23.58 points. On weekly basis KLCI moved within the range of 1660.22 to 1583.63 and ended the week on a negative note, closed lower at 1589.16 points as investors await non-farm report to provide the last major clue on U.S.’s economy before the Federal Reserve next meets. The performance of our local bourse was in tandem with most of our regional peers.

The FBM KLCI index lost 13.59 points or 0.85% on Friday. The Finance Index fell 1.19% to 13924.63 points, the Properties Index up 0.09% to 1107.93 points and the Plantation Index down 0.38% to 6813.29 points. The market traded within a range of 14.71 points between an intra-day high of 1602.32 and a low of 1587.61 during the session.

FBMKLCI Week's Performance
Open	1655.47
High	1660.22
Low	1583.63
Close	1589.16
Change (Points)	-23.58
% Change	-1.46%

Market Forecast for week ahead:

The KLCI index can trade sideways in coming week as the investors sentiments are still cautious which can bound the market to give some good movement, technically if the market breaks the level of 1580 then it can go further down.

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1580	1500	1430	1660	1720	1773

Technical indicators:

RSI for this week is 28.764 with CCI at -133.072. Besides, difference line of MACD -50.702 below its signal line at -35.236.

Global factors and world Indices

• Malaysia saw exports in July increase 3.5 per cent from a year earlier as demand for electrical and electronic goods surged, government data showed on Friday.
• Hong Kong shares ended 0.45 per cent lower on Friday, bringing an end to another painful week for the Hang Seng Index, owing to ongoing concerns about the Chinese economy.
• AUTHORITIES in Singapore, Malaysia and Thailand have published a handbook to guide companies that hope to offer securities across borders through a streamlined review framework.
• UOL Group, Yangzijiang Shipbuilding and SATS will replace Jardine Matheson, Jardine Strategic and Olam International as constituents of the Straits Times Index (STI). This comes after the conclusion of the semi-annual review.
• Japanese stocks slipped to seven-month lows, with the Nikkei posting its biggest weekly fall in almost a year and a half with speculators dumping futures while investors stayed risk-averse ahead of the release of a key U.S. jobs report later in the day.
• Swiss consumer prices fell in August by the most in 56 years, the strongest indication yet of the pricing pressure from Switzerland's strong currency and low oil prices.
• Andy Hall, one of the best-known oil traders who's bullish on prices, said the decline in the oil market isn't a repeat of 1998 or 2008. The absence of "extreme contango," which occurs when commodities prices close to delivery are cheaper than those to be delivered at later dates, suggests that "the world, whilst moderately oversupplied, is not awash in oil.
• Gold held declines from a two-day losing streak on Friday, ahead of a crucial US jobs report as traders waited for clues about the timing of a Federal Reserve rate hike.
• Oil prices eased in Asian trade on Friday as investors turned cautious ahead of US jobs data later in the day that is expected to play into the Federal Reserve's decision on the timing of any US rate hike.

SECTOR ALLOCATION

SECTOR	CHANGE	%CHANGE	HIGH	LOW
FINANCE	-167.03	-1.19	14,072.54	13,922.36
TRAD/SERV	-1.28	-0.61	211.08	208.99
INDUSTRIAL	-13.51	-0.44	3,095.28	3,062.33
PLANTATION	-25.96	-0.38	6,823.54	6,790.83
IND-PROD	-0.34	-0.26	132.4	131.53
CONSUMER	-1.21	-0.22	560.24	557.51
PROPERTIES	1.02	0.09	1,111.84	1,103.19
TECHNOLOGY	0.03	0.15	20.13	19.86
CONSTRUCTN	0.87	0.34	254.26	253.15
MINING	12.16	2.56	486.34	474.18

Bursa Malaysia: KLCI Technical Analysis for 25 Aug & Market Forecast

Market Review for KLCI:

The FBM KLCI index gained 31.80 points or 2.08% on Tuesday. Finance Index increased 1.02% to 13815.29 points, Properties Index dropped 0.18% to 1072.84 points and Plantation Index down 0.13% to 6706.97 points. market traded within a range of 64.74 points between an intra-day high of 1568.42 and a low of 1503.68 during the session.

The KLCI rebounded from yesterday’s losses by ending higher at 1563.94 points despite overnight losses in Wall Street on deep fears about China's economic slowdown. Our local bourse advanced on bargain hunting.

FBMKLCI Day Performance

Open:1515.73

High: 1568.42

Low: 1503.68

Close: 1563.94

Change(Points): +31.80

% Change: +2.08%

Volume: 2,784.4

Rise: 381

Fall: 487

Unch: 935

Market forecast for KLCI:

KLCI is expected to trade with positive sentiments as technically it have shown bullish engulfing pattern and it have also crossed the immediate resistance at 1555 however,the internal political issue can keep the investor sentiments cautious.

KLCI COUNTER SPECIFIC NEWS :

• Malaysian Resources Corp Bhd's (MRCB) net profit for the second quarter ended June 30, 2015 almost halved to RM60.10 million from RM118.53 million a year ago due to higher expenses and lower profit from operations.
• Uzma Bhd ( Financial Dashboard) rose 3.16% early today after the company reported 2Q core net profit of RM11.9 million bringing 1H15 core net profit to RM25.1 million.
• Plantations-to-motoring conglomerate Sime Darby Bhd said it is weighing options to strengthen its balance sheet after its acquisition of New Britain Palm Oil (NBPO).
• Boustead Holdings Bhd's second quarter net profit ended June 30, 2015 dropped 25% to RM50.8 million, from RM67.7 million a year ago, largely due to the decline in its palm products and fuel-trading revenue.
• Malaysian Pacific Industries Bhd (MPI) ( Financial Dashboard) fell in early today amidst thin trade after AffinHwang Capital Research downgraded MPI to Sell at RM6.42 with a lower target price of RM4.31 (from RM6.24) and said MPI reported a stronger-than-expected set of FY15 earnings.
• Real estate investment firm Pelaburan Hartanah Bhd (PHB) is buying a parcel of commercial land measuring 10.8 acres in Kuala Terengganu for RM106 million to embark on a mixed development project.
• Felda Global Ventures Holdings Bhd’s (FGV) second quarter net profit ended June 30 2015 was down by half on higher cost of sales and lower earnings mainly from palm related segments.

GLOBAL FACTORS AND WORLD INDICES:

• Asian shares tumbled today after a big decline in Chinese stocks sparked a global equities rout and increased the fear over the future outlook of the world economy. Shanghai stocks tumbled 6.41 per cent at the open, in line with the decline of previous day.
•  Hong Kong stocks fell 0.67 % in early trade Tuesday, in line with fall in all other gobal indexes.Index fall by 142.86 points to 21,108.71 in opening deals.
• China's major stock indexes further dropped by 6% in early trade on Tuesday, continuing the decline of Monday that made Chinese exchanges suffer and destablised the world financial market around the world. This was the biggest loss that China saw after the Global financial crises 2008.
• Australian shares rebounded on Tuesday as investor took the advantage of beaten down bank stocks, on the next day where the market has seen the biggest drop in over the 6 years. S&P/ASX 200 i.e., 4.1% drop.
• European stocks rebounded at opening on Tuesday despite of fall in Chinese indexes. Europe’s various indexes saw recovering the previous day fall, London's FTSE-100 rose by 1.3 per cent, Frankfurt rose by 1 1.74 per cent and Paris's CAC-40 opened the day up 1.7 per cent.
• US 10-year Treasury yields declined below 2 per cent. This was seen for the first time since April, as high sell-off in stocks and commodities encouraged investor to go for the safest fixed-income assets. US government securities increased consecutively on fourth day between the concern over slowing growth in China and destabilisng the economy all over the world and has also led to delay in increase in US ineterst rate by the Federal Reserve.
• Gold was traded below a 7 week high on Tuesday as equity markets regained from continous fall also US Dollar rebounded after a high sell-off during past few trading sesisons due to fear over meltdown of Chinese economy.
• Oil declined and was traded near 6 year low after equities market and commodities saw huge selloff.

Bursa Malaysia : KLCI Technical Reports for Week Ahead

Weekly wrap of KLCI: This week the FBM KLCI index given a range bound movement and traded between the resistance level of 1595 and support level of 1550, on weekly basis the index have made a high of 1594.68 and low of 1557.1 and ended with a weekly loss of -1.38%.  

FBMKLCI Week's Performance
Open	1563.65
High	1583.38
Low	1557.01
Close	1574.67
Change (Points)	-22.15
% Change	-1.38%

On Friday the KLCI ended flat with 2.74 points lower and closed at 1574.67 points amid overnight losses in US market. The performance of our local bourse was in line with our regional peers on concern that global growth is slowing. On sectoral basis The Finance Index fell 0.77% to 14132.32 points, Properties Index dropped 0.51% to 1103.5 points and Plantation Index rose 0.28% to 6869.39 points in the last trading day of the week. The market traded within a range of 26.37 points between an intra-day high of 1583.38 and a low of 1557.01 during the session on Friday.

Market Forecast for week ahead: The KLCI index is expected to take sideways trend next week as the investors sentiments are still defensive about the market condition which can bound the index to give some good movement, however if it breaks the support of 1550 then it can drop further and can reach to the level of 1500 and extend the last three weeks heavy sell down. 

Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1550	1500	1465	1595	1630	1672

 Technical indicators: RSI for this week is 21.893 with CCI at -200.639. Besides, difference line of MACD -44.093 performed below its signal line -27.451.

Global factors and World Indices

• Ringgit weakened to a 17-year low and led declines in Asia as falling oil prices worsened Malaysia's export outlook amid an emerging-market selloff. The currency has slumped 8.2 per cent this month in the worst developing-nation performance after Russia's ruble. Figures due Friday may show a further decline in Malaysia's foreign-exchange reserves, reducing the central bank's ability to stem the ringgit's descent.
• Malaysia's attorney-general has formed a new task force to investigate state fund 1MDB but it excludes the country's anti-corruption body.
• China's yuan was broadly unchanged on Friday and looked to close out the week on a flat note as the central bank sought to stabilise the currency and calm financial markets after its shock devaluation last week.
• Tokyo's benchmark stock index dropped 2.98 per cent on Friday, piling on its fourth day of losses as fears about the health of the global economy pounded equity markets. Nikkei 225 at the Tokyo Stock Exchange tumbled 597.69 points to finish at 19,435.83, its lowest close in just over three months.
• Asian stocks tumbled, extending the worst week for global equities in nine months, as a gauge of Chinese manufacturing plunged to the lowest since 2009. Gold extended gains.
• Ringgit weakened to a 17-year low and led declines in Asia as falling oil prices worsened Malaysia's export outlook amid an emerging-market selloff. The currency has slumped 8.2 per cent this month in the worst developing-nation performance after Russia's ruble. Figures due Friday may show a further decline in Malaysia's foreign-exchange reserves, reducing the central bank's ability to stem the ringgit's descent.
• Federal Reserve officials planning to lift interest rates as soon as September have been encouraged by solid US jobs growth, but inflation holds the key to how far the Fed can go in moving rates away from zero.
• Markit's flash composite Purchasing Managers' Index (PMI), which tracks manufacturing and services activity that accounts for more than two-thirds of the economy, inched up to 54.0 from 53.7 in July. Stronger-than-expected growth among manufacturers helped Germany's private sector expand at a faster rate in August, suggesting Europe's largest economy is on track for a solid third quarter.
• Euro zone business growth unexpectedly accelerated this month as steeper price cutting drove an increase in new orders and led to firms building up a bigger backlog of work, a survey showed on Friday.
• Gold for immediate delivery climbed 1.4 per cent to US$1,168.39 an ounce, the highest level since July 7, before trading at US$1,163.36 by 12:22 pm in Singapore, according to Bloomberg generic pricing. The metal has surged 4.3 per cent this week and is set for the biggest such gain since January.
• Oil prices resumed their downward trend on Friday pulled lower by weaker global stock markets and a sharp contraction in China's manufacturing activity, with the US benchmark on track for its longest weekly losing streak since 1986.