Daily Archives: March 18, 2016


KLCI extends earlier gains in line with key regional markets


  • The FBM KLCI extended its earlier gains as most Asian equities advanced as emerging market currencies and crude oil remained above US$40 levels.
  • Heavyweights such as IHH Healthcare, Petronas Gas, and Genting were among stocks that pushed the index up.
  • At 5pm on Friday, the KLCI rose 13.15 points or 0.77% to close at 1,716.34. Total turnover was 2.03 billion shares valued at RM2.98bil.
  • The broader market was stronger with advancers outpacing decliners. There were 538 gainers to 349 losers while 317 counters were unchanged.

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Ringgit continues rise to RM4.039 against the dollar


  • The ringgit continued the uptrend momentum at opening today as traders trimmed dollar positions on a bearish outlook for US interest rate hikes, dealers said.
  • At 9 am, the ringgit was quoted at 4.0395/0455 versus the US dollar from 4.0565/0625 yesterday.
  • A dealer said bullish sentiment returned to the ringgit driven by higher oil prices and expectations that the US Federal Reserve would be in no hurry to raise interest rates, giving a boost to regional currencies.
  • Brent, the global crude oil benchmark, rose US$1.15 to US$41.48 per barrel yesterday after earlier reaching the year’s peak of US$41.60.
  • Meanwhile, the ringgit was mixed against other major currencies. It depreciated against the Singapore dollar to 2.9918/9973 from Thursday’s 2.9878/9940 and weakened against the yen to 3.6421/6492 from 3.6303/6373.
  • The local unit firmed against the British pound to 5.8524/8623 from yesterday’s 5.8004/8098 and rose against the euro to 4.5727/5811 from 4.5794/5874.

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


Comex Trading Signals and Market News – 18 March 2016


  • Copper prices fell by 0.13 per cent on Wednesday after the US retail sales fell less than expected in February but a sharp downward revision to January’s data could reignite concerns about the economy’s growth prospects which reduced the demand outlook for the metal. Retail sales dipped 0.1 percent last month as automobile purchases fell and cheaper gasoline undercut receipts at service stations.
  • Oil rose above $41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world’s biggest producers to meet next month to discuss supporting the market.OPEC and non-OPEC producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar over a plan to freeze output, increasing the likelihood of the first global supply deal in 15 years.
  • Gold futures held on to strong overnight gains in European trade on Thursday, after the Federal Reserve kept    interest rates unchanged and indicated just two more rate hikes this year instead of the four expected. Gold for April delivery on the Comex division of the New York Mercantile Exchange jumped $37.00, or  3.01%, to trade at $1,266.80 a troy ounce by 08:05GMT, or 4:05AM ET.


  • Bank of Japan Governor Haruhiko Kuroda said on Thursday that inflation had slowed temporarily due to declines in oil prices but that the overall price trend was improving excluding oil.Kuroda, speaking in the upper house budget committee, also said the BOJ was still only about halfway towards meeting its 2 percent price target.
  • Federal Reserve policymakers urging caution over interest rate hikes have gained the upper hand in the central bank’s internal debate, but the risk for the U.S. economy is that they are wrong to downplay a recent rise in inflation. In words that echo those of colleagues on the Fed’s dovish wing, Fed Chair Janet Yellen told a news conference on Wednesday that “caution is appropriate” when it comes to raising interest rates. She said she was not convinced underlying inflation had accelerated.
  • Declines in China’s foreign trade will ease after March, though trade conditions are expected to be more severe this year than in 2015, a spokesman at the Commerce Ministry said on Wednesday, “There is increasing growth momentum in foreign trade,” Shen Danyang told reporters in Beijing. “We expect declines in trade will gradually ease after March.”


  • BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1264
  • SELL GOLD BELOW 1263 TARGET 1258 1252 SL 1269

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IForex Market Trading Signals and News – 18 March 2016


  • Forex -Dollar weakens further after Fed’s retreat
  • Forex -Swiss franc ticks lower against euro after SNB stands pat
  • Forex-Aussie, kiwi sharply higher vs. greenback after Fed statement

The single currency is extending its march north on Thursday, now lifting EUR/USD to test the vicinity of the 1.1300 handle.The greenback has accelerated its downside momentum following the opening bell in Euroland today, with markets posting moderate gains and the pair navigating fresh peaks in the boundaries of 1.1300 the figure.Later in the session, EMU’s final CPI figures for the month of February are due, followed by US Initial Claims and the Philly Fed survey. However, data releases area likely to be in the back burner as market participants keep digesting the recent dovish statement from the FOMC and crude oil dynamics keep sustaining the risk-on sentiment.

GBP/USD is currrently trading with a strong bullish bias. During the previous trading day, pound rebounded from the level 1.4065, went long an even crossed a short-term resistance level 1.42119. As long as the pair trades above this level, we will look for long positions with an ultimate target at 1.4406. In the meantime, we wait for minor retracements towards 1.42119, or below to 1.4180 for us to go long with our ideal target at 1.4406. We will only go short if the pullback breakout clearly below 1.4180. This pair should be traded alongside EUR/JPY, CHF/JPY, CAD/JPY and GBP/JPY. These pairs have strong positive correlation of up to +0.94 and will likely have a similar price action. Only buy or sell Pound if all the other positively correlated pairs are giving the same signal.


  • BUY GBP/USD ABOVE 1.4320 TARGET 1.4340 1.4370 SL 1.4290
  • SELL GBP/USD BELOW 1.4250 TARGET 1.4230 1.4200 SL 1.4280

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Financial Klse Malaysia Stock Market Trading Picks And News – 18 March 2016


  • The FBM KLCI index gained 9.76 points or 0.58% on Thursday. The Finance Index increased 0.80% to 14577.81 points, the Properties Index up 1.23% to 1167.46 points and the Plantation Index rose 0.54% to 8038.3 points. The market traded within a range of 12.76 points between an intra-day high of 1708.62 and a low of 1695.86 during the session.
  • Actively traded stocks include INIX, GAMUDA-WE, HSI-HT, VIVOCOM, APFT, EKA, OCK -WA, RANHILL, SONA-WA and CHINHIN. Trading volume increased to 1814.60 mil shares worth RM2310.11 mil as compared to Wednesday’s 1432.52 mil shares worth RM1691.13 mil.
  • Leading Movers were CIMB (+16 sen to RM4.80), GENM (+11 sen to RM4.39), AMMB (+8 sen to RM4.65), RHBCAP (+9 sen to RM5.84) and GENTING (+13 sen to RM9.00). Lagging Movers were UMW (-17 sen to RM6.33), KLCC (-8 sen to RM7.07), DIGI (-4 sen to RM4.86), IHH (-4 sen to RM6.48) and PPB (-4 sen to RM16.60). Market breadth was positive with 490 gainers as compared to 341 losers.
  • The KLCI closed higher at 1703.19 points, tracking the positive performance in Wall Street overnight. Our local bourse advanced on bargain hunting.


  • BUY BIOHLDG ABOVE 0.400 TARGET 0.430 0.460 SL 0.360

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