Daily Archives: March 21, 2016

21Mar
BURSA1

KLCI down in early morning trade as crude oil falls

KUALA LUMPUR:

  • The local benchmark index was down in early morning trade, in tandem with the fall in crude oil prices.
  • Oil and gas related stocks weighed the index down on early Monday. At 9.47am, the FBM KLCI was down 3.09 points or 0.18% to 1,713.25.
  • Petronas Gas pulled the index down by 1.59 points, down 48 sen to RM21.98, while Petronas Chemicals weighed 1.48 points on the index, losing 13 sen to RM6.79.
  • Heavyweight IHH Healthcare brought the index down by 2.07 points, down 15 sen to RM6.60.
  • The broader market was stronger with gainers outpacing losers by 262 versus 226 while 254 stocks were unchanged.
  • Petronas Gas fell 48 sen to RM21.98, Pos Malaysia down 24 sen to RM2.83, Airport down 22 sen to RM6.75, IHH fell 15 sen to RM6.60.
  • Among gainers were BAT up 30 sen to RM55.60, Tenaga up 12 sen to RM13.54, Magni-Tech up 10 sen to RM4.58.

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

21Mar
BURSA

Petronas’ LNG project runs into further delay in Canada

KUALA LUMPUR :

  • A major liquefied natural gas export project in Canada ran into another delay when the federal environmental assessment agency was granted an extra three months to finish an impact study.
  • Ottawa did though commit to announcing a final decision on the project this year, which would end a long-running saga for Malaysian oil giant Petronas.
  • The firm and its partners have been waiting nearly three years for a permit to build the Pacific NorthWest LNG facility in northern British Columbia, on the Pacific coast.
  • News of the latest delay broke on Saturday when Canada’s Environment Minister Catherine McKenna agreed to the Canadian Environmental Assessment Agency’s request (CEAA) for the extra three months.

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

21Mar
MYR

Ringgit gets boost from foreign investments, higher oil prices

PETALING JAYA :

  • The ringgit is on a roll, rising faster than its regional peers against the US dollar, as higher price of crude oil brightens Malaysia’s economic prospects.
  • The returning tide of foreign money into the local bonds and equity markets after a huge sell-off last year would help keep the momentum going for the ringgit, said analysts.
  • “Market environment have turned friendly towards emerging markets over the last couple of weeks,” said AmBank Group foreign exchange strategist Wong Chee Seng.
  • “Recent dovish central banks’ policy stance will work positively for the ringgit through the improvement in risk sentiment and appetite,” he added.
  • A survey by Reuters last week revealed that bullish bets on the ringgit by global fund managers and currency traders had hit their highest level since August 2014 as expectation of aggressive increases in US interest rates receded.

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

21Mar
gold-bars

Comex Trading Signals and Market News – 21 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Natural Gas prices extended gain over 1 per cent on Friday at the Multi Commodity Exchange (MCX) as traders widened their position tracking a rally in the energy commodity internationally as forecasts for cooler weather across the eastern parts of the US next week raised hopes of a pickup in gas-fired heating demand in the world’s biggest fuel consuming nation.
  • U.S. oil futures touched new highs for 2016 on Friday and were set to post gains for a fifth straight week on growing optimism that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices.U.S. crude (CLc1) was up 3 cents at $40.23 barrel at 0653 GMT, after rising to as much as $40.55 – higher than the previous peak of $40.36 reached on Thursday.
  • Gold slid lower in European morning hours on Friday, but remained within close distance of a one-year high as sentiment on the U.S. dollar remained vulnerable after the Federal Reserve’s most recent policy statement. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were down 0.43% at $1,259.60.

ECONOMY NEWS :

  • The Philippines’ financial system is facing a risk because of the $81 million that was stolen by hackers from the New York Fed account of Bangladesh’s central bank and then transferred to Manila, the country’s central bank governor said on Friday.”If you look at the behavior of the financial markets over the last several days there has been no indication that there is a negative impact. But we have to recognize there is a risk,” Amando Tetangco told reporters.
  • The European Central Bank can cut interest rates again if the euro zone’s economy fails to pick up and, under extreme circumstances, it might even consider printing money and giving it out directly to people, its chief economist said in a newspaper interview published on Friday.The ECB upset investors last week when its president, Mario Draghi, said he did not expect further rate cuts, raising questions about his pledge in 2012 to do “whatever it takes” to save the euro.
  • An international review by creditors of Greece’s reform program is advancing and it could be wrapped up by May 1, the head of the European Stability Mechanism (ESM) rescue fund told the Swiss newspaper Neue Zuercher Zeitung.”There is progress but it is too early to say when exactly the review will conclude,” Klaus Regling was quoted as saying in an interview, adding that the ESM assumed Greece would need “significantly less” than the 86 billion euros ($97 billion)being discussed for a third assistance program.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1265 TARGET 1270 1280 SL 1253
  • SELL GOLD BELOW 1248 TARGET 1243 1233 SL 1255

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

21Mar
Stacks of coins with the word FOREX isolated on white

IForex Market Trading Signals and News – 21 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar regains some ground vs. euro, yen
  • Forex -Yen stands tall as dollar weakened by Fed’s cautious stance
  • Forex-Dollar sell off ebbs, but on track for weekly losses on Fed outlook

EUR/USD
EUR/USD is currently trading with a bullish bias. Following the break above the pivot level 1.1178, Euro appears to have developed a bullish trend. We anticipate a breakout above 1.1380 for us to continue long with our ideal target at 1.1492. Alternatively, we wait for minor pullbacks towards 1.1291 for us to execute buy orders. This view can only be invalidated should the anticipated pullback go below 1.1267. If the latter is the case, then we will be looking for short positions with our target at 1.09935. This pair should be alongside GBP/JPY, and GBP/USD. These pairs have a strong positive correlation of up to +0.89 and will likely move in a similar direction. Only buy or sell Euro if pound dollar is giving the same signal.

GBP/USD
The pound slipped lower against the U.S. dollar on Friday, pulling away from a one-month peak as the greenback recovered from losses posted after the Federal Reserve’s latest policy decision.GBP/USD hit 1.4440 during European morning trade, the session low; the pair subsequently consolidated at 1.4426, shedding 0.39% .Cable was likely to find support at 1.4219, Thursday’s low and resistance at 1.4517, the high of February 16. The dollar came under broad selling pressure after the Fed left its monetary policy unchanged on Wednesday and said that it is likely to raise interest rates twice this year – and not four times, as initially estimated.Fed policymakers said the U.S. economy faces risks from an uncertain global economy, although moderate growth and “strong job gains” would allow it to tighten policy this year.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4540 TARGET 1.4560 1.4590 SL 1.4510
  • SELL GBP/USD BELOW 1.4450 TARGET 1.4430 1.4380 SL 1.4480

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

21Mar
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 21 March 2016

MARKET UPDATES :

  • The FBM KLCI index gained 13.15 points or 0.77% on Friday. The Finance Index increased 0.91% to 14711.17 points, the Properties Index up 1.14% to 1180.79 points and the Plantation Index down 0.01% to 8037.55 points. The market traded within a range of 10.72 points between an intra-day high of 1716.34 and a low of 1705.62 during the session.
  • Actively traded stocks include SMTRACK, POS-CV, SONA-WA, AIRASIA, OCK-WA, ANZO, GENETEC, RSENA-WA, GAMUDA-WE and CIMB. Trading volume increased to 2026.91 mil shares worth RM2983.13 mil as compared to Thursday’s 1814.60 mil shares worth RM2310.11 mil.
  • Leading Movers were IHH (+27 sen to RM6.75), UMW (+23 sen to RM6.56), RHBCAP (+21 sen to RM6.05), GENTING (+32 sen to RM9.32) and PETGAS (+68 sen to RM22.46). Lagging Movers were ASTRO (-4 sen to RM2.90), KLCC (-8 sen to RM6.99), MISC (-9 sen to RM8.83), MAXIS (-6 sen to RM6.22) and SIME (-6 sen to RM7.87). Market breadth was positive with 538 gainers as compared to 349 losers.
  • The KLCI ended the week with a positive note, closing higher at 1716.34 points. The performance of our benchmark index was in line with overnight gains in Wall Street following higher oil prices and the Federal Reserve’s announcement a day earlier.

STOCK RECOMMENDATION :

  • BUY BIOHLDG ABOVE 0.410 TARGET 0.430 0.460 SL 0.370

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

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