Daily Archives: March 7, 2016


Bursa Malaysia : KLCI finally breaks through 1,700


  • Petronas stocks and Tenaga Nasional led the charge for the FBM KLCI to break through the important 1,700 level on extended fund buying following the rising optimism in key Asian markets and a jump in crude oil prices.
  • At 9.08am, the KLCI was up 13.17 points or 0.78% to 1,705.66. Turnover was 172.99 million shares valued at RM87mil. There were 180 gainers, 99 losers and 139 counters unchanged.
  • Reuters reported Asian shares hit two-month highs on Monday, extending their sharp gains in the previous four sessions, following upbeat U.S. jobs data and rebound in oil commodity prices.

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KLSE : Ringgit opens higher against US$, S$, pound and yen Monday March 7


  • The ringgit opened higher against the US dollar Monday on fresh buying interest for the local note.
  • At 9.09 am()109GMT), the local unit was quoted at 4.0790/0850 per US dollar versus 4.1175/1225 at 5 pm last Friday.
  • A dealer said the greenback was traded at a week’s low on Friday on the back of weaker US wages despite recording a strong employment growth.
  • “The market is of the view that the US Federal Reserve will gradually increase its interest rates this year,” he added.
  • The ringgit was traded higher against other currencies.
  • It strengthened against the Singapore dollar to 2.9630/9680 from 2.9789/9828 on Friday and rose against the euro to 4.4840/4919 from 4.5033/5104.
  • It also appreciated against the British pound to 5.7971/8072 from last Friday’s 5.8209/8305 and increased against the yen to 3.5919/5985 from 3.6191/6251 previously.

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Comex Trading Signals and Market News – 07 March 2016


  • Gold rose in European morning hours on Friday, to trade near the previous session’s one-year peak as investors focused on the upcoming U.S. nonfarm payrolls report for new hints on the Federal Reserve’s next policy moves.  On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were up 0.25% at $1,260.90.
  • Natural Gas futures shed more than 1 per cent during noon trade in the domestic market on Friday as investors and speculators exited positions in the energy commodity as hefty storage levels exacerbated concerns of oversupplies as the end of the winter heating season threatened to curb demand for the fuel in the US the world’s biggest consumer.
  • Silver futures rallied by more than 1 per cent during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal as weaker than expected US economic data pushed back bets of a near-term interest rate hike by the Federal Reserve bolstering the lure for the bullion as a store of value.


  • Japan’s government named Makoto Sakurai, a think tank executive with ties to advocates of aggressive monetary policy easing in premier Shinzo Abe’s administration, to join the Bank of Japan’s board, a government document showed on Friday.Sakurai, 70, replaces Sayuri Shirai, a 53-year-old former International Monetary Fund economist and the only female in the nine-member board whose term ends on March 31.
  • Australian shares climbed to a two-month peak on Friday after gains in commodity prices underpinned the mining and financial sectors, while New Zealand stocks struck a record high, yet again.The S&P/ASX 200 index .AXJO edged up 0.3 percent or 16.4 points to 5,098.1 by 01:45 GMT. The benchmark is up 4.5 percent so far this week and if sustained, it would be the biggest increase in nearly five months.
  • China’s defence budget this year is likely to rise at its slowest pace since 2010, in line with the decelerating economy and by a much lower figure than had been expected in military and diplomatic circles, though it probably does not represent true spending.Fu Ying, spokeswoman for China’s parliament, said the figure would increase by about seven to eight percent from 2015, following a nearly unbroken two-decade run of double-digit budget increases.


  • BUY GOLD ABOVE 1270 TARGET 1275 1285 SL 1263
  • SELL GOLD BELOW 1258 TARGET 1252 1247 SL 1265

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IForex Market Trading Signals and News – 07 March 2016


  • Forex – Pound slides lower against stronger greenback
  • Forex -Dollar mostly higher ahead of U.S. jobs report
  • Forex -Dollar firms before U.S. payrolls data

EUR/USD keeps its march north intact on Friday, now trading at shouting distance from the psychological handle at 1.10.The pair has resumed yesterday’s upside momentum, this time propped up by an abrupt leap to session highs in EUR/GBP in response to an increased offered tone around the sterling.Next on tap for the pair will be the release of US Non-farm Payrolls, expected at 190K during February, with the jobless rate staying put at 4.9%. EUR/USD is trading at 1.0950 in Friday’s European session, after posting strong gains on Thursday. On the release front, the sole Eurozone release is Retail PMI. It’s a busy day in the US, with four key events, led by Nonfarm Employment Change. The markets are expecting a strong turnaround in the upcoming release, with an estimate of 195 thousand.

The pound slid lower against the U.S. dollar on Friday, as sentiment on the greenback improved ahead of highly anticipated data on U.S. nonfarm payrolls due later in the day. GBP/USD hit 1.4130 during European morning trade, the session low; the pair subsequently consolidated at 1.4136, shedding 0.27%.Cable was likely to find support at 1.4029, Thursday’s low and resistance at 1.4320, the high of February 22. The dollar weakened on Thursday after a string of downbeat U.S. data dampened optimism over the strength of the economy. The Institute of Supply Management reported that its non- manufacturing purchasing manager’s index fell more-than-expected last month.


  • BUY GBP/USD ABOVE 1.4180 TARGET 1.4200 1.4240 SL 1.4140
  • SELL GBP/USD BELOW 1.4100 TARGET 1.4080 1.4040 SL 1.4140

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Financial Klse Malaysia Stock Market Trading Picks And News – 07 March 2016


  • The FBM KLCI index gained 4.29 points or 0.25% on Friday. The Finance Index increased 0.97% to 14363.96 points, the Properties Index up 0.16% to 1140.27 points and the Plantation Index down 0.58% to 7819.09 points. The market traded within a range of 14.76 points between an intra-day high of 1700.49 and a low of 1685.73 during the session.
  • Actively traded stocks include AAX-WA, AAX, AIRASIA, VIVOCOM, COMFORT, MINETEC, HSI-HT, BJCORP, MYEG and COMPUGT. Trading volume decreased to 1779.29 mil shares worth RM2160.36 mil as compared to Thursday’s 1866.02 mil shares worth RM2249.45 mil.
  • Leading Movers were CIMB (+13 sen to RM4.63), AMMB (+11 sen to RM4.53), RHBCAP (+10 sen to RM5.66), MAXIS (+11 sen to RM6.37) and PETCHEM (+6 sen to RM6.98). Lagging Movers were PETDAG (-34 sen to RM24.44), BAT (-82 sen to RM56.46), KLK (-28 sen to RM23.72), IOICORP (-2 sen to RM4.76) and DIGI (-4 sen to RM5.02). Market breadth was negative with 334 gainers as compared to 463 losers.
  • The KLCI closed higher at 1692.49 amid overnight gains in US Market. Investors remained cautious ahead a key US jobs report to be announced tonight.


  • BUY KPSB ABOVE 0.640 TARGET 0.680 0.740 SL 0.590

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