Daily Archives: March 15, 2016


Mobius: Weaker ringgit makes Malaysia very attractive now


  • The ringgit, which had fallen more than 15% against the US dollar since January 2015, has made Malaysia very attractive now, says Mark Mobius .
  • Mobius, who is Templeton Emerging Markets Group’s executive chairman also noted that Malaysia’s GDP growth has been very good.
  • He said on Tuesday while the country’s foreign reserves have came down it was still at a good level while its public debt level was manageable.
  • At midday, the ringgit was at 4.1240 compared with the previous close of 4.1059 following the decline in crude oil prices. Brent crude fell 33 cents to US$39.20 a barrel.
  • However, year-to-date, the ringgit has strengthened to 4.16% against the greenback.
  • Mobius also pointed out emerging markets (EM) are at a “turning point” with funds expected to flow back into EMs.
  • He said fund managers were “underweight” on EMs and it was now at a turning point and prices could jump rapidly, adding that EMs were in “very good shape”.
  • On China, Mobius said while China’s growth was decelerating, it was still an enormous economy. He added China’ services sectors were now powering the economy.

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KLCI down 6 pts midday as oil stocks lose ground


  • After hitting the crucial 1,700 level on Monday, the FBM KLCI lost ground on Tuesday as investor risk appetite waned on ringgit weakeness and Brenct crude oil fell below US$40 per barrel.
  • At 12.30pm, the FBM KLCI was down 6.15 points or 0.36% to 1,694.16. Turnover was 780.34 million shares valued at RM780.34mil. There were 322 gainers, 340 losers and 320 stocks unchanged.
  • US light crude oil fell 27 cents to US$36.91 and Brent was down 33 cents to US$39.20.
  • The ringgit weakened against the US dollar, pound sterling and Singapore dollar. It was at 4.1240 to the US dollar from 4.1059 the previous day and it slipped against the pound to 5.8887 from 5.8879 and weakened to 2.9940 against the Singapore dollar from 2.9865.
  • Regional stock markets maintained a weak bias with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.7%, near the day’s lows and backing off a 2-1/2-month high on Monday, Reuters reported.

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Malaysia : Top Glove eyes SGX


  • Top Glove Corp Bhd is seeking a secondary listing on the Singapore Stock Exchange to gain a bigger audience – a move that has been undertaken by some companies previously but with little to shout about.
  • Top Glove is seeking a secondary listing of its shares on the Main Board of Singapore Exchange Securities Trading Ltd (SGX-ST) by the third quarter of this year.
  • The world’s largest rubber glovemaker said the proposed secondary listing will not involve the issuance of any new Top Glove shares. However, its major shareholders may divest a portion of their shareholdings amounting to 20% to create liquidity.

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



Comex Trading Signals and Market News – 15 March 2016


  • Natural Gas futures fell during noon trade in the domestic market on Monday as investors and speculators exited positions in the energy commodity as forecasts for warmer weather across the US for the remainder of March threatened to curb heating demand for the fuel in the world’s biggest fuel consuming nation.
  • Silver futures advanced in the domestic market during noon trade on Monday as investors and speculators booked fresh positions in the precious metal amid speculation that the US Federal Reserve which meets this week may sing a more cautious tune over further interest rate hikes in the world’s biggest economy bolstering the lure for the bullion as a store of value.
  • Gold futures struggled for direction in European trade on Monday, flipping between small gains and losses as investors looked ahead to central bank meetings in Japan and the U.S. later this week for further clues on monetary policy.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $3.70, or 0.29%, to trade at $1,255.70 a troy ounce by 07:45GMT, or 3:45AM ET.


  • The Bank of Japan is unlikely to ease policy further for the moment as it gauges the impact of its surprise adoption of a negative interest rate, a move that roiled markets, a key economic adviser to Prime Minister Shinzo Abe said on Monday.Given a variety of changing external factors, “I think the BOJ wouldn’t take further action right now,” Koichi Hamada, special adviser to the Cabinet, told Reuters in an interview. “Probably it will be a wise decision.”
  • India’s retail inflation is expected to have eased in February helped by falls in prices of some food items, after edging up for six straight months, raising expectations of a central bank rate cut next month.Analysts say Raghuram Rajan, Governor of the Reserve Bank of India, could soften monetary stance after Finance Minister Arun Jaitley stuck to a fiscal deficit target of 3.5 percent of GDP for next fiscal year in his third budget last month.
  • Alarm that parts of China’s housing market are overheating, raised at the ongoing annual parliament meeting, highlights concern about unregulated, online-based financing that can fuel a property bubble. Officials vowed to crack down on players in the property business illegally lending home-buyers the money to make downpayments.


  • BUY GOLD ABOVE 1260 TARGET 1265 1271 SL 1254
  • SELL GOLD BELOW 1250 TARGET 1245 1239 SL 1256

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Stacks of coins with the word FOREX isolated on white

IForex Market Trading Signals and News – 15 March 2016


  • Forex -Aussie and kiwi move lower vs. greenback in late trade
  • Forex -Dollar steadies before BOJ, Fed meetings
  • Forex-Frazzled dollar awaits Fed guidance, Aussie takes a breather

The EUR bears loosened the grip over the last hour, allowing a minor-recovery in the EUR/USD pair from near 1.1110 region heading into the Euro zone industrial output release. EUR/USD trades -0.20% lower at 1.1130, climbing back above 5-DMA placed at 1.1125. The main currency pair moves-off lows, although struggles to recover ground as the European stocks join the global risk-on rally and brought back renewed optimism into markets, dampening the safe-haven appeal for the euro. Germany’s DAX jumps +1.83%, the UK’s FTSE gains +0.60%, while the pan-European benchmark, the Euro Stoxx 50 shoots +1.20% so far this session.

The GBPUSD pair rallied strongly to the upside to manage to touch our first main target at 1.4385, as trading settles around it now waiting to get enough positive momentum to push the price to resume the bullish wave, which its next target located at the bearish channel’s resistance at 1.4635. Therefore, we will continue to suggest the bullish trend for the upcoming sessions, supported by the EMA50 that carries the price from below, noting that holding above 1.4205 level represents the first condition to continue the expected bullish trend.


  • BUY GBP/USD ABOVE 1.4380 TARGET 1.4400 1.4430 SL 1.4350
  • SELL GBP/USD BELOW 1.4330 TAGET 1.4310 1.4280 SL 1.4360

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Financial Klse Malaysia Stock Market Trading Picks And News – 15 March 2016


  • The FBM KLCI index gained 3.77 points or 0.22% on Monday. The Finance Index fell 0.04% to 14376.5 points, the Properties Index up 0.38% to 1141.81 points and the Plantation Index rose 0.66% to 8036.46 points. The market traded within a range of 12.15 points between an intra-day high of 1708.10 and a low of 1695.95 during the session.
  • Actively traded stocks include GAMUDA-WE, RSENA-WA, AAX-WA, SONA-WA, SMTRACK, HIBISCS, AAX, XOX, VIVOCOM and APFT. Trading volume decreased to 1472.66 mil shares worth RM1614.29 mil as compared to Friday’s 1632.46 mil shares worth RM1753.90 mil.
  • Leading Movers were GENM (+13 sen to RM4.39), PETCHEM (+7 sen to RM6.82), MISC (+9 sen to RM8.90), KLCC (+6 sen to RM7.14) and DIGI (+4 sen to RM4.96). Lagging Movers were PETDAG (-40 sen to RM24.10), PETGAS (-32 sen to RM21.96), AMMB (-3 sen to RM4.57), SKPETRO (-1 sen to RM2.10) and GENTING (-4 sen to RM8.84). Market breadth was positive with 419 gainers as compared to 412 losers.
  • The KLCI extended its midday gains and closed higher at 1700.31 points amid positive performance in Wall Street on last Friday. Our benchmark index was buoyed by buying interest in heavy weight counters such as Genting Malaysia, MISC and KLCC.


  • BUY LIONIND ABOVE 0.400 TARGET 0.430 0.470 SL 0.335

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