7Oct

KLCI up at eleventh hour as Bursa innovation stocks ascend on iPhone 11 news

The FBM KLCI settled up 1.33 focuses or 0.09% today at 1,559 in the wake of tearing back to a positive area at the eleventh hour as worldwide speculators foreseen US-China exchange talks this week and assessed the US’ most recent business information.

Today, Bursa Malaysia innovation stocks ascended in a clear reaction to the news that Apple Inc would increase the creation of iPhone 11 models.

At 5pm, the KLCI quit for the day tumbling to its intraday low of 1,555.55.

Bursa’s innovation list, which incorporates semiconductor producers, wound up 0.67 points or 1.83% at 37.25.

Crosswise over Bursa Malaysia, 2.17 billion offers worth RM1.33 billion were exchanged.

Top gainers included semiconductor makers Malaysian Pacific Industries Bhd and Unisem (M) Bhd.

The most-dynamic stocks included recently recorded SDS Group Bhd, which enrolled a volume at exactly 109 million offers. Pro Market-recorded SDS Group’s offer value shut everything down sen at 25.5 sen from the stock’s first sale of stock cost of 23 sen an offer.

All around, Reuters announced that Asian offers edged higher on Monday after information demonstrated the US joblessness rate dropped to the most minimal in very nearly 50 years, facilitating worries of a stoppage on the planet’s biggest economy.

It was accounted for that slant towards the US economy weakened strongly a lot of a week ago in the wake of baffling information on assembling and administrations recommended the exchange war was incurring significant damage, and more rate slices would be expected to turn away a potential downturn on the planet’s greatest economy.

“Yet, an unobtrusive September increment in US employments, declared on Friday, facilitated a portion of these worries and lifted US showcases that day. The US joblessness rate tumbled to 3.5% in September to come to the most reduced since December 1969. Non-ranch payrolls likewise developed in September, yet somewhat not exactly expected,” the newswire said.

In Malaysia today, TA Securities Holdings Bhd wrote in a note before that the KLCI, which was regarded oversold, could be ready for a specialized bounce back.

 

Malaysia Stock Market Live

“Specialized pattern markers for the KLCI have turned unequivocally increasingly bearish after a week ago’s breakdown to close beneath key rotate low supports, indicating progressively potential for noteworthy misfortunes ahead. In any case, for this coming week, given the extraordinary oversold conditions activated by a week ago’s extreme sell-down, we don’t limit great probability for a specialized bounce back to address the oversold energy.

“Moreover, the nearby market ought to likewise ricochet back alongside territorial friends early this week following the US financial exchange’s certain response to the intently watched September US employments month to month report last Friday, which was hearty enough to clammy downturn fears, however feeble enough to urge the Federal Reserve to again cut loan costs in the not so distant future,” TA Securities said.

US-China exchange talks will be intently viewed. CNBC announced, referring to sources, that the following round of the discussions would be held from Thursday to Friday (Oct 10 to 11).

The result from the current week’s exchange discourses “will probably be urgent in deciding whether the different sides can arrive at a break economic agreement that delays further levy heightening,” examiners at Eurasia Group were cited as writing in a note.

10Apr

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Oil prices crept higher on Wednesday, supported by supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela, but restricted by expectations that an economic slowdown could soon dent fuel consumption. International benchmark Brent futures were at $70.66 per barrel at 0158 GMT, up 5 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $64.10 per barrel, up 12 cents, or 0.2 percent, above their last settlement.
  • President Donald Trump will issue two executive orders in the heart of the Texas energy hub on Wednesday seeking to speed gas, coal and oil projects delayed by coastal states as he looks to build support ahead of next year’s election. Trump’s orders will direct his Environmental Protection Agency to change a part of the U.S. clean water law that has allowed states, on the basis of environmental reasons, to delay projects such as pipelines to carry natural gas to New England and coal export terminals on the West Coast.
  •  U.S. Agriculture Secretary Sonny Perdue said on Tuesday that talks with China about reducing Beijing’s tariff on U.S. ethanol products were “positive,” but cautioned the discussions were not over. “There have been conversations with China on reducing that tariff on ethanol, which would obviously be good for our domestic corn industry,” he told reporters. “While things look positive, it’s never over till it’s over with the Chinese.”

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world’s largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, even though such activities previously fell under a regulatory grey area.
  • Bank of Japan Governor Haruhiko Kuroda said on Wednesday the central bank was seeking to create a condition in which any acceleration in inflation is accompanied by rises in corporate profits and wages. “The BOJ isn’t seeking to push up inflation alone. We want to create a situation where wage and employment conditions improve too … and a positive economic cycle is created,” Kuroda told parliament.
  • A political feud over President Donald Trump’s picks for the U.S. Federal Reserve Board broke into an open brawl on Tuesday even before the nominations of Herman Cain, a former restaurant chain executive, and Stephen Moore, a conservative economic commentator, have been formally submitted to the Senate. Cain and Moore, both overt loyalists to the president, in recent days have waged unprecedented public campaigns for the Fed jobs, with both eagerly endorsing Trump’s economic policies and Moore pledging to “accommodate” those policies once he is at the Fed.

GOLD TRADING FORECAST TODAY

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8Apr

TODAY’S KLSE STOCK SIGNAL & TECHNICAL REPORT

Today’s KLSE Stock Signal

                        Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Malaysia Stock Market News

The FBM KLCI index lost 3.26 points or 0.20% on Friday. The Finance Index fell 0.20% to 16888.72 points, the Properties Index dropped 0.69% to 907.62 points and the Plantation Index rose 0.40% to 7236.55 points. The market traded within a range of 4.79 points between an intra-day high of 1645.09 and a low of 1640.30 during the session.

Actively traded stocks include SCOMI, TRIVE, PWORTH, SAPNRG, SCOMI-WB, HIBISCS, ICON, ARMADA, BIOOSMO and PUC. Trading volume decreased to 2650.18 mil shares worth RM1574.81 mil as compared to Thursday’s 3183.84 mil shares worth RM2128.16 mil.

Leading Movers were SIMEPLT (+10 sen to RM5.15), MAHB (+2 sen to RM7.11), DIGI (+1 sen to RM4.70), CIMB (+1 sen to RM5.11) and AXIATA (+0 sen to RM4.18). Lagging Movers were MAXIS (-11 sen to RM5.49), GENM (-6 sen to RM3.19), TOPGLOV (-5 sen to RM4.60), HLFG (-16 sen to RM19.02) and DIALOG (-2 sen to RM3.18). Market breadth was negative with 381 gainers as compared to 388 losers.

The KLCI tumbled to 1641.81 points amid overnight mixed performance in US market. The performance of our local bourse was bogged down by selling interest in heavy weight counters such as Maxis, Genting Malaysia and Top Glove.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

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4Apr

TODAY’S KLSE STOCK SIGNAL & TECHNICAL REPORT

Today’s KLSE Stock Signal

                         Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Malaysia Stock Market News

Continuous buying by funds and gains on heavyweights helped propel the benchmark FBM KLCI index higher on Wednesday.

At closing, the bellwether FBM KLCI added 10.38 points, or 0.64%, to close at 1,643.21 on strong interest in Genting Group stocks as well banking stocks. The market traded within a range of 9.74 points between an intra-day high of 1,645.54 and a low of 1,635.80 during the session.

In the broader market, there were 490 gainers, 329 losers while 414 counters unchanged. Trading volume stood at 2.66 billion shares worth RM1.93bil.

Dealers said continued buying in selected heavyweights pushed the key index to finish higher buoyed by the progress over US-China trade talks. In today’s session, 22 of the KLCI-component stocks were traded higher, seven counters fell while the remaining one closed unchanged.

Major stock advancers among the FBM KLCI component stocks included IHH Healthcare, which gained 18 sen to RM5.60, Public Bank added 30 sen to RM23, Genting rose 25 sen to RM6.85 and Genting Malaysia advanced 11 sen to RM3.28.

Laggards in the FBM KLCI component stocks included Maxis, which fell four sen to RM5.49, Tenaga declined four sen to RM12.54 and Petronas Chemicals shed two sen to RM9.08.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

4april6

 

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3Apr

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Oil prices rose for a fourth day on Wednesday, holding firm despite an industry report showing that U.S. inventories rose unexpectedly last week, with supply cuts and sanctions supporting the market. Brent futures rose 22 cents, or 0.3 percent, to $69.59 a barrel by 0028 GMT, after earlier reaching $69.68, the highest since Nov. 13. The global benchmark closed half a percent higher on Tuesday. U.S. West Texas Intermediate crude rose 6 cents, or 0.1 percent, to $62.64 cents a barrel.
  • Crude advanced to the highest this year after a further reduction in supply from OPEC signaled that global markets are tightening. Futures added 1.6 percent to the highest level since November in New York on Tuesday. Declines in OPEC production are stoking optimism among investors as Saudi Arabia pressed on with output curbs and as power blackouts in Venezuela further squeezed supplies.
  • The good news for gold bugs is there’s always some news on economic uncertainty out there to keep the yellow metal from collapsing. The bad news is there hasn’t been enough news of economic uncertainty lately to push prices back above the key $1,300 level. Bullion and futures of gold rose on Tuesday as latest U.S. data renewed worries about growth in the world’s largest economy. Spot gold, reflective of trades in bullion, was at $1,291.62 an ounce by 2:42 PM ET (18:42 GMT), up $3.90, or 0.3%.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Growth in developing Asia could slow for a second straight year in 2019 and lose further momentum in 2020, the Asian Development Bank (ADB) said on Wednesday, warning of rising economic risks from a bitter Sino-U.S.trade war and a potentially disorderly Brexit. Developing Asia, which groups 45 countries in the Asia-Pacific region, is expected to grow 5.7 this year, the ADB said in its Asian Development Outlook report, slowing from a projected 5.9 percent expansion in 2018 and 6.2 percent growth in 2017.
  • South Korea’s finance minister said on Wednesday the ministry will submit a supplementary budget of smaller than 9 trillion won ($7.9 billion) in size to the parliament by the end of April. “The size of the extra budget hasn’t been confirmed yet, but I think it would be smaller than the size that the International Monetary Fund (IMF) suggested,” Hong Nam-ki told reporters after a policy meeting in Seoul.
  • The U.S. Federal Reserve’s dovish turn has probably delayed the arrival of a key bond market recession indicator to 2020, a bit later than predicted three months ago, according to the latest Reuters poll of bond strategists. Only about one-fifth of those answering an additional question expected the gap between U.S. 2-year and 10-year note yields to invert within the next six months, compared to over one-third in the previous poll.

GOLD TRADING FORECAST TODAY

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2Apr

Algerian association archives RM370m declare towards Malakoff, Hyflux JV

wc-hyflux-1602

 

An Algerian company had filed a declare for 80mil euros (RM370mil) in opposition to Tlemcen Desalianation Investment Co. SAS (TDIC), Singapore’s Hyflux Ltd and Malakoff Bhd over a desalination undertaking in that country.

Independent strength enterprise Malakoff announced to Bursa on Wednesday two Algerian Energy Co, SPA (AEC) used to be suing the joint-venture organizations for alleged two breaches and negligence in the design, operation and maintenance of its plant

Malakoff stated its legal professionals in Paris had knowledgeable it that AEC had filed its request for arbitration  at the International Chamber of Commerce International Court of Arbitration.

The claim was in relation to the water buy agreement and a framework settlement in December 2007 and the joint-venture settlement dated March 28, 2007.

Malakoff stated AEC claimed the three companies have been accountable for breaches and negligence in the design, operation and maintenance of the plant.

AEC additionally referred to the three organizations or respondents had wrongly objected to the termination of the water purchase agreement, switch of shares to AEC and carrying out of technical audit under the framework agreement.

AEC claimed the respondents had breached their contractual tasks and sought an order for them to pay the fees to repair the plant.

AEC sought an order for the respondents to indemnify AEC for damages incurred as a end result of their breaches, estimated on an period in-between groundwork at 80mil euros.

It also sought an order that the respondents warranty the charge or reimburse the excellent of 3.929bil Algerian dinar which was imposed on Almiyah Attilemcania SPA (AAS) by Algerian courts and presently pending effect of AAS’ attraction at the Algerian Supreme Court).

Malakoff stated it appointed global arbitration lawyers in Paris and Kuala Lumpur to advise on and take the indispensable steps to protect its role and two task AEC’s claims in the ICC arbitration, and perchance counterclaim in opposition to AEC.

To recap, AAS is a joint stock company included in Algeria for the design, set up and operation of the plant. two TDIC holds 51% of AAS and AEC 49%. The shareholders of TDIC, a enterprise integrated in France, are Malakoff AlDjazair Desal Sdn Bhd (MADSB) and MenaSpring Utility (Tlemcen) Pte Ltd (MUPL), conserving 70% and 30% of the shares respectively.

MADSB is a unit  of Malakoff whilst MUPL is entirely owned by way of Hyflux.

Malakoff stated the group’s carrying amount of funding in AAS had been thoroughly supplied for in 2016.

“The request is no longer anticipated to have any operational affect to Malakoff. The monetary impact, if any, of the request, cannot be determined with finality at this juncture as the claims are still being reviewed through Malakoff’s lawyers,” it said.

28Mar

KLCI limits losses, ringgit dips towards growing greenback

The FBM KLCI fell as a lot as four points in intra-morning trade even though it managed to halve losses by using midday break.

KLCI report

 

At 12.30pm, the local index used to be 2.03 factors lower at 1,640.70. Trading used to be sluggish in the morning session with a total of 950.36 million shares replacing arms for a price of RM616.91mil.

Asian markets grew weaker over Thursday change as the recession fears hooked up on falling 10-year US Treasury yields.

In Greater China, the Shanghai Composite Index slipped 0.25% though the CSI300 and Hong Kong’s Hang Seng were marginally higher.

Japan’s Nikkei fell 1.3% whilst South Korea’s Kospi slid 0.5%. On Bursa Malaysia, fantastic charge motion used to be led by means of client stocks Nestle rising RM2 to RM147, Panasonic gaining 98 sen to RM38.48 and BAT adding 34 sen to RM35.34.

Leading decliners were Petronas Dagangan falling 16 sen to RM24.82, Rapid dropping 10 sen to RM5.60 and Hengyuan dipping 10 sen to RM5.80. Most active counters had been Sapura Energy losing 0.5 sen to 32.5 sen, MyEG slipping one sen to RM1.38 and Destini adding one sen to 31 sen. Oil fees prolonged losses for a second straight session as US investories confirmed an surprising increase. US crude fell 17 cents to US$59.24 a barrel and Brent crude dipped 10 cents to US$67.73 a barrel. The ringgit was 0.1% weaker towards a strengthening dollar at 4.0770. It was flat against the pound sterling at 5.3783 and marginally greater over the Singapore dollar at 3.0089.

18Mar

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

 

INTERNATIONAL COMEX NEWS

  • The kings of precious metals, gold and palladium, are both vying for world attention with major price milestones achieved on Friday from global growth fears and a Russian export ban, respectively. U.S. gold futures, as well as globally-traded bullion, moved above the key $1,300 perch after official suggestions of more downward pressure on China’s economy and weakening in U.S. employment trends and New York State manufacturing data.
  • Forget China’s growth, for now — the U.S. might be a bigger problem as New York manufacturing data showed on Friday, casting more economic worries for oil. Both U.S. West Texas Intermediate crude and U.K. Brent oil dipped slightly after the Empire State Manufacturing Index slumped to a reading of 3.70 for March, its third consecutive monthly reading below 10 and the lowest since May 2017.
  • The Trump administration is likely to open up portions of the Atlantic to oil and gas drilling despite opposition from East Coast states, a U.S. Interior Department official suggested in remarks at a recent energy industry conference, a recording of which was reviewed by Reuters. The comments come as the administration of President Donald Trump prepares to release a new five-year drilling plan proposal for federal waters that could vastly expand available acreage, part of its broader agenda to maximize U.S. oil, gas and coal production.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Subsidies will be granted to lure talent from outside mainland China to support development of the Greater Bay Area, a project aimed at deepening integration between Hong Kong and southern Guangdong province, the Ministry of Finance’s tax bureau said on Saturday. The subsidies will be provided in nine cities in southern China to individuals from Hong Kong, Macao, and Taiwan and other parts of the world, according to a document released by the bureau.
  • Brazil does not expect the U.S. government to announce support for its bid to join a club of the world’s advanced economies when its President Jair Bolsonaro visits Washington next week, a senior member of his economic team told Reuters on Friday. Brazil, the world’s eighth-largest economy, applied in 2017 to join the Organization for Economic Cooperation and Development (OECD), a forum of three dozen advanced economies that includes Mexico, Chile and Colombia.
  • Turns out that billionaire investor Warren Buffett doesn’t love Modern Monetary Theory either. “I’m not a fan of MMT — not at all,” the Berkshire Hathaway Inc . chief executive officer said Friday in a telephone interview, adding that the deficit spending that’s part of the theory could risk “spiraling” inflation. “We don’t need to get into danger zones, and we don’t know precisely where they are.” Buffett joins critics including Federal Reserve Chairman Jerome Powell, former U.S. Treasury Secretary Larry Summers, Blackrock Inc .

COMEX GOLD SIGNAL

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15Mar

TODAY’S KLSE STOCK SIGNAL & TECHNICAL REPORT

Today’s KLSE Stock Signal

                         Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

 

Malaysia Stock Market News

  • Heavy churning of penny oil and gas (O&G) stocks on Thursday drove the total market volume to the highest since May last year amid a firmer broader market though blue chips gave up some gains. At 5pm, the KLCI was down 3.72 points or 0.22% to 1,674.52. Advancers beat decliners 491 to 400 while 387 counters were unchanged.However, turnover surged to 4.77 billion shares valued at RM2.74bil, reflecting the low quality buying. Nine out of the 10 most active stocks were O&G counters. Sino-Hua Ann jumped seven sen to 29 sen with 375 million shares done, Destini also added seven sen to 32.5 sen and Sapura Energy eked out one sen to 35 sen. Carimin climbed 10.5 sen to 94 sen, Hibiscus five sen to RM1.07 and Perdana Petroleum rose three sen to 48 sen while Bumi Armada was flat at 19.5 sen. Among the KLCI stocks, Petronas Dagangan fell 18 sen to RM25.12, Petronas Chemical lost five sen to RM9.25, Petronas Gas fell two sen to RM17.68 but Dialog was flat at RM3.20. US light crude oil rose six cents to US$58.32 and Brent added 10 cents to US$67.65.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

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14Mar

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • The United States aims to cut Iran’s crude exports by about 20 percent to below 1 million barrels per day (bpd) from May by requiring importing countries to reduce purchases to avoid U.S. sanctions, two sources familiar with the matter told Reuters. U.S. President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Tehran’s main source of revenue.
  • Democrats in the U.S. House of Representatives gave a cool reception to the replacement for the North American Free Trade Agreement on Wednesday as the top U.S. trade negotiator opened a campaign to win broad support for the accord in Congress. Several Democrats said a closed-door meeting between United States Trade Representative Robert Lighthizer and their caucus failed to ease their concerns about the new U.S.-Mexico-Canada Agreement’s (USMCA) provisions on labor, biologic drugs and some other issues.
  • Gold futures for April delivery were up $10.95, or 0.8%, at $1,309.05 per ounce on the Comex division of the New York Mercantile Exchange by 2:08 PM ET (18:08 GMT). It hit a near two-week peak of $1,309.60 after settling at $1,309.30, up $11.20. Spot gold, reflective of trades in physical bullion, rose by $7.37, or 0.6%, to $1,308.96 by 2:08 PM ET after a session high at $1,309.46. On Wall Street, the S&P 500 index rose almost 1%, as February producer prices indicated benign inflation that strengthened the Federal Reserve’s patient stance on future rate hikes

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The U.S. agency in charge of federal buildings is blaming Congress for delays and a sudden change in plans for a new FBI headquarters, an issue that lawmakers are investigating as a possible conflict of interest for President Donald Trump. Before Trump was elected, the Federal Bureau of Investigation, currently based near the Trump International Hotel in central Washington, was headed for a new home in the suburbs; its crumbling headquarters, for the wrecking ball. But that all changed abruptly in 2017.
  • British finance minister Philip Hammond said on Wednesday he could free billions of pounds for extra public spending or tax cuts, as long as parliament resolves its Brexit impasse. Hammond told lawmakers he could relax his grip on the public finances if they spared Britain the shock of leaving the world’s biggest trading bloc without an agreement. “I hoped we would do that last night, but I am confident that we, as a House, will do it over the coming weeks,” he said.
  • China’s securities watchdog is tightening scrutiny over gray-market margin financing, barring brokerages from facilitating shadow lending and warning against risks of another credit-fueled bubble. The China Securities Regulatory Commission (CSRC) said on Wednesday that its subsidiary in eastern Zhejiang province last week held a meeting with local brokerages, flagging potential risks associated with illegal margin financing and banning them from doing any form of business that could facilitate such a business.

GOLD TRADING FORECAST TODAY

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