Daily Archives: March 4, 2016

4Mar
BURSA

Bursa Malaysia : KLCI stages mild rebound early Friday

KUALA LUMPUR :

  • Blue chips staged a mild rebound early Friday after the firmer Wall Street close with the FBM KLCI set on the key 1,700 level but again profit taking could cap the gains.
  • At 9.10am, the KLCI was up eight points or 0.47% to 1,696.20. Turnover was 136.87 million shares valued at RM46.12mil. There wre 154 gainers to 78 losers.
  • BIMB Equities Research reported foreign funds continued their buying for the second day on Thursday with net buying rising to RM391.6mil.
  • In the latest update on the Asian markets on Friday, Reuters reported Asian shares look set to post a third straight weeks of gains on Friday as investors scaled back cautious bets on the global economy after a string of positive U.S. economic data and a recovery in oil and commodity prices.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

4Mar
MYR1

KLSE : Ringgit opens higher against US$, but lower VS euro, pound, yen, S’pore $, Friday March 4

KUALA LUMPUR :

  • The ringgit continued Thursday’s upward momentum against the US dollar to open higher Friday on mild buying support by investors and lifted by positive sentiment, dealers said.
  • At 9.01 am(0101GMT), the local unit was quoted at 4.1280/1340 per US dollar versus 4.1310/1380 at 5 pm on Thursday
  • A dealer said the local note is expected to be stronger on increased doubts about an interest rate hike by the US Federal Reserve coupled with better crude oil prices.
  • She said the buying was mainly supported by encouraging February US manufacturing data which indicated an increase of 1.3 per cent to 49.5, the highest recorded since September.
  • “This reflected an improvement in global economic growth.
  • “But investors will now wait for clues for the direction ahead of the US jobs data to be released later today,” she said.
  • The ringgit was traded lower against other emerging currencies.
  • It weakened against the Singapore dollar to 2.9743/9801 from 2.9638/9706 on Thursday and went down against the euro to 4.5202/5284 from 4.4925/4009.
  • It also depreciated against the British pound to 5.8469/8575 from 5.8074/8189 and slipped against the yen to 3.6348/6410 from 3.6278/6352 yesterday.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

4Mar
gold-bars

Comex Trading Signals and Market News – 04 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Natural Gas futures extended a slump during noon trade in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as forecasts for mild temperatures in March across the US threatened to curb demand for the heating fuel and expand a supply glut.The Commodity Weather Group called for warmer than normal weather in the US in the coming days reducing the need for gas-fired heating at offices and homes in the world’s biggest fuel consuming nation.
  • Gold futures drifted higher in European trade on Thursday, as investors looked ahead to key U.S. data later in the day to gauge if the world’s largest economy is strong enough to withstand further rate hikes this year.The U.S. was to release the weekly report on initial jobless claims at 15:30GMT, or 8:30AM ET, followed by the U.S. Institute of Supply Management’s report on service sector growth for February at 15:00GMT, or 10:00AM ET.
  • Crude prices gained further in Asia on Thursday as investors shrugged off bearish U.S. inventory reports. On the New York Mercantile Exchange, WTI crude for April delivery rose 0.40% to $34.80 a barrel. Brent rose 0.16% to $36.99 a barrel. Overnight, U.S. crude futures inched up on Wednesday remaining near one-month highs after a massive build in domestic inventories last week exacerbated concerns that top storage facilities nationwide could reach full storage capacity in the near-term future.

ECONOMY NEWS :

  • Foreign capital outflows from the South Korean securities markets continued for a fourth consecutive month in February but there were signs of the trend easing, the country’s finance ministry said on Thursday.Data from the ministry showed foreign investors reduced their holdings of South Korean domestic bonds by a net 4.2 trillion won ($3.46 bil lion) and sold a net 0.2 trillion won worth of stocks during February.
  • Australia’s deputy leader called for government unity on Thursday as Prime Minister Malcolm Turnbull’s polls plummet amid party divisions and ahead of a critical budget and looming election later this year.Deputy Prime Minister Barnaby Joyce said the honeymoon was over for Turnbull, who became leader in a party room coup in late 2015 and is now under pressure on several policy fronts and facing party instability blamed on the man he toppled, former prime minister Tony Abbott.
  • Bank of Japan Deputy Governor Hiroshi Nakaso on Thursday put the onus on the government to speed up structural reforms to boost the country’s growth potential and maximise the economic impact of the bank’s massive monetary stimulus programme.The former career central banker said it was technically possible to push interest rates further into negative territory, stressing the BOJ’s readiness to expand stimulus again if needed to achieve its 2 percent inflation target.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1245 TARGET 1250 1256 SL 1239
  • SELL GOLD BELOW 1235 TARGET 1230 1224 SL 1241

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

4Mar
forex-market-hours

IForex Market Trading Signals and News – 04 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Aussie hits 2-month highs on strong data, kiwi holds steady
  • Forex -Dollar gains with Friday’s US jobs data in focus
  • Forex -Dollar turns lower against euro, yen on doubts over rally’s momentum

EUR/USD
The common currency keeps the buoyant tone on Thursday, lifting EUR/USD to test fresh tops in the 1.0880 area. The buying interest around EUR remains firm today after Services PMI in Germany and the euro area have bettered the preliminary readings for the month of February. Adding to the upbeat sentiment around the pair, EMU’s Retail Sales have surpassed initial forecasts during January, expanding 0.4% on a monthly basis and 2.0% over the last twelve months.With releases in Euroland now out of the way, the US docket will take the driver’s seat, with Initial Claims, Factory Orders and the ISM Non-manufacturing all expected later in the NA session.The pair is now up 0.13% at 1.0880 facing the next up barrier at 1.0925 (100-day sma) ahead of 1.1046 (200-day sma) and then 1.1123 (38.2% Fibo of December up-move). On the flip side, a breakdown of 1.0823 (low Mar.2) would target 1.0777 (low Jan.21) en route to 1.0709 (2016 low Jan.5).

GBP/USD
The pound edged lower against the dollar and the euro on Thursday after data showing that U.K. service sector growth slowed to its weakest level in three years amid fears over the growing risk of Brexit. GBP/USD hit lows of 1.4034 before recovering slightly to 1.4082.The Markit services purchasing managers’ index declined to 52.7 last month from January’s 55.6. Economists had expected the index to tick down to 55.1.It was the lowest reading since March 2013.New orders in the sector rose at the weakest pace since early 2013 and employment growth hit a two-and-a-half year low. “Survey responses reveal that firms are worried about signs of faltering demand, but board- rooms have also become unsettled by concerns regarding the increased risk of Brexit,” Chris Williamson, Markit chief economist said.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4130 TARGET 1.4150 1.4180 SL 1.4100
  • SELL GBP/USD BELOW 1.4070 TARGET 1.4050 1.4020 SL 1.4100

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH MALAYSIA.

4Mar
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 04 March 2016

MARKET UPDATES :

  • The FBM KLCI index lost 2.83 points or 0.17% on Thursday. The Finance Index fell 0.30% to 14225.65 points, the Properties Index up 0.13% to 1138.46 points and the Plantation Index rose 0.20% to 7864.59 points. The market traded within a range of 15.64 points between an intra-day high of 1699.96 and a low of 1684.32 during the session.
  • Actively traded stocks include AAX, AAX-WA, AIRASIA, KNM, APFT, VIVOCOM, SONA-WA, EKA, TI- GER and SKH. Trading volume increased to 1866.02 mil shares worth RM2249.45 mil as compared to Wednesday’s 1664.69 mil shares worth RM2278.63 mil.
  • Leading Movers were RHBCAP (+10 sen to RM5.56), SKPETRO (+3 sen to RM2.08), PPB (+14 sen to RM16.32), HLFG (+12 sen to RM14.28) and ASTRO (+2 sen to RM2.77). Lagging Movers were CIMB (- 15 sen to RM4.50), MAXIS (-16 sen to RM6.26), AMMB (-10 sen to RM4.42), YTL (-2 sen to RM1.56) and BAT (-48 sen to RM57.28). Market breadth was negative with 411 gainers as compared to 415 losers.
  • The KLCI failed to maintain in positive territory and closed marginally lower at 1688.20 points amid overnight gains in US Market as oil price edged higher. The performance of our local bourse was limited as profit taking kicked in following the rally in the past two days.

STOCK RECOMMENDATION :

  • BUY TUNEPRO ABOVE 1.370 TARGET 1.410 1.480 SL 1.300

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

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