Monthly Archives: February 2018


Malaysia Stock Market Today

The FBM KLCI index gained 11.38 points or 0.61% on Tuesday. The Finance Index increased 1.11% to 18299.16 points, the Properties Index dropped 0.21% to 1186.5 points and the Plantation Index rose 0.02% to 8076.13 points. The market traded within a range of 6.56 points between an intra-day high of 1872.35 and a low of 1865.79 during the session. Actively traded stocks include KBUNAI-WC, NETX, DGB-WA, KBUNAI, DGB, PUC, BORNOIL, VIVOCOM, HUAAN and DBE.

Trading volume increased to 2760.67 mil shares worth RM2894.20 mil as compared to Monday’s 2716.11 mil shares worth RM2743.72 mil. Leading Movers were HLFG (+74 sen to RM19.20), HLBANK (+56 sen to RM19.08), HAPSENG (+27 sen to RM9.57), PPB (+46 sen to RM18.18) and GENM (+11 sen to RM5.27). Lagging Movers were AXIATA (-13 sen to RM5.46), YTL (-2 sen to RM1.47), ASTRO (-1 sen to RM2.50), DIGI (-1 sen to RM4.88) and MISC (-0 sen to RM6.79).



Market breadth was negative with 443 gainers as compared to 563 losers. The KLCI closed higher at 18.71 points amid overnight gains in US market. The performance of our local index was mainly lifted by buying interest interest in heavy weight counters such as Hong Leong Financial Group, Hong Leong Bank and Hap Seng Consolidated.





                                                                                                     Comex Gold Signal





  • Gold prices remained higher on Monday, as sentiment on the U.S. dollar remained fragile ahead of new Federal Reserve head Jerome Powell’s testimony this week. Comex gold futures were up 0.71% at $1,339.8 a troy ounce by 08:30 a.m. ET (12:30 GMT), the highest since February 20. The greenback had strengthened broadly after the minutes of the Fed’s January policy meeting showed last week that central bank officials see increased economic growth and rising inflation as justification to continue to raise interest rates gradually.
  • Crude oil prices pulled back but remained within close distance of two-week highs on Monday, still helped by news Saudi Arabia plans to continue cutting output levels and as last week’s upbeat U.S. supply data also continued to support. The U.S. West Texas Intermediate crude April contract was down 35 cents or about 0.52% at $63.22 a barrel by 10:00 a.m. ET (14:00 GMT), just off Friday’s two-and-a-half week high of $63.73.
  • Natural gas futures were sharply higher to start the week on Monday, boosted by forecasts for a bump in late-winter heating demand. Front-month U.S. natural gas futures tacked on 5.4 cents, or around 2%, to $2.711 per million British thermal units (btu) by 8:05AM ET (1305GMT). It rose to its best level since Feb. 8 earlier in the session. The commodity notched a gain of around 2.6% last week, as updated weather forecasting models showed a return to colder weather over the eastern U.S. during the first week of March.


  • Slack in the euro zone economy may be bigger than previously estimated and this could slow the rise of inflation but only temporarily and prices will eventually climb, European Central Bank President Mario Draghi said on Monday. The factors slowing the rise of inflation will wane as growth continues and the traditional relationship between growth and inflation remains intact, even if their correlation has been weakened in recent years, Draghi told the European Parliament’s committee on economic affairs.
  • European Central Bank President Mario Draghi said Monday that the euro area economy is expanding robustly, but inflation is yet to show sustained signs of moving higher so patience with regard to monetary policy is still needed. In a statement to the European Parliament, Draghi said that growth is stronger than previously expected, but inflation has yet to show more convincing signs of a sustained upward adjustment.
  • U.S., Mexican and Canadian negotiators meet on Monday seeking to narrow disagreements on how to overhaul the NAFTA trade deal despite renewed signs of tension between Mexico and U.S. President Donald Trump over his planned border wall. The trade teams began a seventh round of talks on Sunday aiming to finish reworking less contentious chapters of the North American Free Trade Agreement in order to create space to broker agreement on the trickiest subjects.



EUR/USD unaltered around 1. 2300

  • EMU’s cpi matched preliminary figures for those month from claiming january.
  • Spot keeps those negative bias, once again from Thursday’s 1. 2350.
  • Those pair sits tight wary looking into Fedspeak due after the fact in the day.

EUR/USD currently takes a gander should Fedspeak
The couple paid little-to-nil thoughtfulness regarding the arrival from claiming last expansion figures in the area measured Eventually Tom’s perusing the cpi. For fact, feature purchaser costs originated for in line for the preliminary readings Throughout most recent month, climbing In an annualized 1. 3%.

Over addition, shopper costs excluding sustenance Also vitality costochondritis rose 1. 0% through the most recent twelve monts.

In the meantime, those combine keeps the discouraged temperament as such this week against those scenery of a stronger greenback, permitting toward those same occasion when An possibility test about February’s low in the 1. 2200 neighborhood. This see may be fortified by those late action in EUR futures businesses.

Taking a gander ahead, those buck if remain vigilant once speeches by new york nourished w. Dudley (permanent voter, centrist), boston nourished e. Rosengren (2019 voter, centrist), cleveland nourished l. Mester (voter, hawkish) What’s more san francisco nourished j. Williams (voter, centrist).

EUR/USD levels should watch
Toward the moment, those couple may be losing 0. 12% toward 1. 2315 confronting quick controversy toward 1. 2260 (low feb. 22) accompanied Toward 1. 2206 (low feb. 9) Also At last 1. 2165 (low jan. 18). On the upside, a breakout of 1. 2352 (high feb. 22) might focus 1. 2369 (21-day sma) in transit on 1. 2537 (high jan. 25).




                                                                                                Comex Gold Signal




  • Gold prices remained under pressure on Wednesday, hovering at one-week lows as the U.S. dollar continued to be supported ahead of the minutes of the Federal Reserve’s latest policy meeting, due to be released later in the day. Comex gold futures were down 0.11% at $1,329.8 a troy ounce by 08:05 a.m. ET (12:05 GMT), the lowest since February 14.
  • Crude oil prices remained lower on Wednesday, weighed by U.S. dollar strength and amid growing caution ahead of this week’s U.S. supply data. The U.S. West Texas Intermediate crude April contract was down 35 cents or about 0.55% at $61.45 a barrel by 10:00 a.m. ET (14:00 GMT). Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London fell 14 cents or about 0.21% to $65.11 a barrel.
  • Natural gas futures continued higher for the second day in a row on Wednesday, nearing their best level in almost two weeks, amid forecasts for a bump in late-winter heating demand. Front-month U.S. natural gas futures tacked on 3.0 cents, or around 1.2%, to $2.647 per million British thermal units (btu) by 9:15AM ET (1415GMT). It rose to $2.662 in the last session, a level not seen since Feb. 9.


  • Chinese shoppers stepped up spending during this year’s week-long Lunar New Year holiday, splashing out more at restaurants, retailers and cinemas, according to Ministry of Commerce data released on Wednesday. The retail and catering sectors posted sales of 926 billion yuan ($146 billion) during the holiday period that began on Feb. 15 and ended on Wednesday, an increase of 10.2 percent from the year-ago holiday, the ministry said on its website.
  • Bank of England Governor Mark Carney said Wednesday that interest rates are likely to rise three times in the next three years due to “excess demand” in the UK economy. In its February inflation report, the BoE said it is likely to raise interest rates earlier and faster than it had expected in November. Carney said that November’s forecasts were based on a ‘conditioning path’ of two interest rate rises over the forecast period.
  • The U.S. Treasury Department has recommended preserving powers created after the 2007-2009 financial crisis that allow regulators to step in and wind down a failing bank. In a closely watched report published on Wednesday, the administration of Republican President Donald Trump favored keeping the “orderly liquidation authority” (OLA) created by the 2010 Dodd-Frank law, in a win for big banks that had been lobbying to keep it.



GBP/USD reinforce above 1.40

  • Link blurs the spike to 1.4050.
  • Carney is expected to talk later today.
  • US markets will stay close

The Sterling is currently substituting picks up with misfortunes versus the greenback toward the start of the week, taking GBP/USD to the 1.4020/30 band.

GBP/USD consideration regarding Carney

Link is hoping to solidify in the lower en of the current range following Friday’s sharp drop, where it appears to have discovered some good help in the 1.4000 neighborhood.

Rangebound exchanging around the buck is likewise working together with the absence of course in the match toward the start of the week, all in the midst of thin exchange conditions and rare unpredictability because of the occasion in US markets.

On the situating front and following the most recent CFTC report, GBP net yearns dropped to 7-week lows in the week to February 13.

In any case, GBP should remain careful on the forthcoming discourse by Governor M.Carney, especially after the hawkish tone conveyed by the national bank at its most recent gathering prior in the month.

GBP/USD levels to consider

As of composing, the match is losing 0.01% at 1.4026 and a break of 1.3998 (low Feb.16) would go for 1.3948 (10-day sma) and afterward 1.3765 (low Feb.9). On the upside, the following obstacle rises at 1.4146 (high Feb.16) backed by 1.4154 (close term protection line) lastly 1.4280 (high Feb.2).

GBP/USD reinforce above 1.40



FBM KLCI is expected to extend its gains today

The FBM KLCI is expected to extend its gains on resuming trade today in line with the close at most global markets last Friday after the extended weekend to celeberate the Lunar New Year.

The ringgit is also likely to be in focus today after it firmed up 0.57% in pre-holiday trade last Thursday and was quoted at 3.8942 to the greenback.The dollar rose and stocks around the globe rallied for a sixth straight session on Friday to post their best week in more than two years, but a U.S. indictment over alleged Russian meddling in the 2016 presidential election cooled gains on Wall Street, according to Reuters.


The 37-page indictment of a Russian internet agency filed by Special Counsel Robert Mueller described a conspiracy with the aim of supporting Donald Trump and sowing discord in the U.S. political system, it said.On Wall Street, the Dow Jones Industrial Average closed up 19.01 points, or 0.08 percent, to 25,219.38. The S&P 500 gained 1.02 points, or 0.04 percent, to 2,732.22 and the Nasdaq Composite dropped 16.97 points, or 0.23 percent, to 7,239.47, said Reuters.







  • Gold prices fell Friday but were set to clinch their biggest weekly win in nearly two years despite a rebound in the greenback from three-year lows. Gold futures for April delivery on the Comex division of the New York Mercantile Exchange fell by $5.70, or 0.42%, to $1,349.70 a troy ounce. In the wake of a rebound in the dollar, gold prices fell but remained well supported as traders continued to mull over the impact of rising inflation on the precious metal.
  • Natural gas futures were higher on Thursday, finding support after data showed that domestic supplies in storage fell more than forecast last week. Front-month U.S. natural gas futures gained 1.7 cents, or around 0.6%, to $2.603 per million British thermal units (btu) by 10:45AM ET (1545GMT). Futures were at around $2.593 prior to the release of the supply data. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 194 billion cubic feet (bcf) in the week ended Feb. 9, above forecasts for a withdrawal of 183 bcf.
  • Crude oil prices settled higher shrugging off data showing the number of US oil rigs rose for the fourth straight week. On the New York Mercantile Exchange crude futures for March delivery rose 34 cents to settle at $61.68 a barrel, while on London’s Intercontinental Exchange, Brent gained 37 cents to trade at $64.70 a barrel. The number of oil rigs operating in the US jumped by seven to 798, the highest level since April 2, 2015, according to data from energy services


  • The Canadian government is evaluating what impact lower U.S. corporate taxes could have on competitiveness north of the border, the finance minister said on Friday, though he gave no details on what Canada might do in response. Finance Minister Bill Morneau met with a group of private sector economists earlier in the day to discuss the Canadian outlook ahead of the release of the federal government’s budget later this month.
  • The Canadian government plans to open free trade talks with the four-nation Mercosur trading bloc in South America, an official said on Friday, at a time when the future of NAFTA is facing increasing uncertainty. Canada sends around 75 percent of its goods exports to the United States and is looking for new markets to reduce the reliance on its southern neighbor. Trade Minister Francois-Philippe Champagne is set to arrive in Paraguay on March 9 to launch talks with Mercosur, which also includes Argentina, Brazil and Uruguay.
  • A Brexit deal should strike a balance to ensure Britain clearly diverges from the European Union’s single market but keeps close economic ties with the bloc, German Chancellor Angela Merkel said after meeting British Prime Minister Theresa May on Friday. With little more than a year to go before Britain leaves the EU, Merkel struck an upbeat tone








  • Gold prices rose on Tuesday, as caution ahead of this week’s U.S. inflation data weighed on demand for the dollar. Comex gold futures were up 0.31% at $1,330.5 a troy ounce by 08:00 a.m. ET (12:00 GMT), the highest since February 7. Market participants were eyeing this week’s U.S. consumer price inflation data due on Wednesday and producer price inflation data on Thursday for further clues on how fast the Federal Reserve will raise interest rates this year
  • Norway’s finance ministry asked the central bank on Tuesday to explain what impact a potential listing of state oil giant Saudi Aramco would have on the benchmark equity index of the country’s $1 trillion sovereign wealth fund. The request was made as part of public consultations on Norges Bank’s proposal to drop the oil and gas sector from the fund’s investments in order to reduce the risk of oil-price fluctuations.
  • Crude oil prices slumped into correction — a 10% drop from their January highs — amid the turmoil that hit stocks over the past two weeks. But according to commodity strategists at RBC Capital Markets, investors would be wise not to ignore several risks that may drive prices even lower. Short of sounding “alarm bells” in their note on Tuesday, the strategists led by Michael Tran said pockets of the market are getting oversupplied again.


  • Republicans in Congress are on a tear during the Donald Trump administration, ushering in big-spending and deficitballooning advancements in direct contrast to the Tea Party wave that reshaped the modern GOP. During the budget negotiations that resulted in brief shutdown last week, enraged conservatives blasted Republican leaders for championing a massive spending deal. “When Republicans, given power, are consistently growing government and adding to the debt, it’s time to stop saying they’re abandoning limited government principles,” wrote Philip Klein in the Washington Examiner. “The reality is, they do not actually have any limited government principles. Their priorities are lower taxes and higher military spending, and they are willing to accede to growth in entitlements and other government programs if that is what it takes to secure their first two goals.”
  • Federal Reserve Chair Jerome Powell, at a ceremonial swearing-in as head of the central bank, said on Tuesday the Fed would keep watching for financial stability risks and preserve “essential” improvements in financial regulation since the 2007-2009 crisis. Powell, speaking on the heels of a market rout that shaved 10 percent from the value of major U.S. stock indexes, said the Fed would “preserve the essential gains in financial regulation while seeking to ensure that our policies are as efficient as possible. We will remain alert to any developing risks to financial stability.”





FTSE Bursa Malaysia KLCI Dropped –19.620 points

The FBM KLCI index lost 19.62 points or 1.07% on Friday. The Finance Index fell 1.17% to 17456.47 points, the Properties Index dropped 0.67% to 1178.96 points and the Plantation Index down 0.28% to 7946.03 points. The market traded within a range of 17.98 points between an intra-day high of 1824.23 and a low of 1806.25 during the session. Actively traded stocks include NICORP, HIBISCS, AAX, PDZ-WB, BORNOIL, FINTEC, SAPNRG, HSI-C1X, PERISAI and UMWOG. Trading volume increased to 2451.96 mil shares worth RM2673.56 mil as compared to Thursday’s 2054.14 mil shares worth RM2085.37 mil. Leading Movers were PETDAG (+38 sen to RM24.90), NESTLE (+110 sen to RM116.10), KLCC (+7 sen to RM7.80), PETCHEM (+4 sen to RM8.00) and IHH (+1 sen to RM5.94). Lagging Movers were YTL (-5 sen to RM1.42), CIMB (- 24 sen to RM6.86), MAXIS (-19 sen to RM5.88), PETGAS (-52 sen to RM17.48) and GENTING (-22 sen to RM8.78). Market breadth was negative with 208 gainers as compared to 900 losers. The KLCI closed lower to 1819.82 points amid significant losses in US market. The performance of our local bourse was bogged down by negative sentiment worldwide.



The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) Dropped –19.620 points ended 1824.230 to after hovering 1824.230-1806.250 throughout the day. The RSI at 39.136




Comex Gold Signal




  • Gold prices were little changed on Friday, as the U.S. dollar declined following news of another U.S. government shutdown although a budget bill was expected to be passed before the weekend, while U.S. bond yields turned back higher. Comex gold futures were steady at $1,318.5 a troy ounce by 02:00 a.m. ET (06:00 GMT), off Thursday’s one-month low of $1,309.22.
  • Crude oil prices settled lower as data showed the number of US oil rigs surged to a 34 month high, stoking investor fears for a ramp up in domestic production. On the New York Mercantile Exchange crude futures for March delivery fell 3.19% cents to settle at $59.20 a barrel, while on London’s Intercontinental Exchange, Brent lost 3.56% to trade at $62.50 a barrel. The number of oil rigs operating in the US rose by 26 to 791, the highest level since April 2, 2015, according to data from energy services firm Baker Hughes.
  • Colombia is drawing up plans to hedge against declines in the price of crude, its main export, the country’s finance minister said on Friday, following in the footsteps of Mexico, which successfully used one during the 2014-2016 price slump. Mauricio Cardenas said “it is the right time” for Colombia to start thinking about implementing an oil hedge for the first time, adding that the country would need to reshape its legal framework to allow the government to lead a potentially risky financial transaction.


  • Billionaire investor Chase Coleman’s hedge fund Tiger Global Management presented investors with a 28 percent gain last year when stocks zoomed higher, but he assured them he has not give up on betting against duds when the time is right. “While we have heard, read, and seen many signs of capitulation from short-sellers, we remain highly committed to the strategy,” the firm said in its most recent client letter seen by Reuters on Friday. Last year it was wrong-footed by bets against grocer Whole Foods and mall operator General Growth Properties and said that six of its shorts were acquired.
  • Republican leaders in Pennsylvania’s legislature submitted a plan for redrawing the state’s congressional districts just hours before Friday’s court-ordered deadline, but Democratic Governor Tom Wolf questioned whether the proposal will pass legal muster. The newly-drawn political map was ordered on Jan. 22 by the state Supreme Court, which invalidated the existing congressional district boundaries as an illegal gerrymander created by the Republican-controlled state legislature.
  • A brief U.S. government shutdown ended on Friday after Congress passed and President Donald Trump signed into law a temporary spending deal expected to push budget deficits past $1 trillion annually with new military and domestic outlays. But Trump is expected to unveil on Monday a fiscal 2019 budget plan that will be based on rosy assumptions,


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