Monthly Archives: March 2019

28Mar

KLCI limits losses, ringgit dips towards growing greenback

The FBM KLCI fell as a lot as four points in intra-morning trade even though it managed to halve losses by using midday break.

KLCI report

 

At 12.30pm, the local index used to be 2.03 factors lower at 1,640.70. Trading used to be sluggish in the morning session with a total of 950.36 million shares replacing arms for a price of RM616.91mil.

Asian markets grew weaker over Thursday change as the recession fears hooked up on falling 10-year US Treasury yields.

In Greater China, the Shanghai Composite Index slipped 0.25% though the CSI300 and Hong Kong’s Hang Seng were marginally higher.

Japan’s Nikkei fell 1.3% whilst South Korea’s Kospi slid 0.5%. On Bursa Malaysia, fantastic charge motion used to be led by means of client stocks Nestle rising RM2 to RM147, Panasonic gaining 98 sen to RM38.48 and BAT adding 34 sen to RM35.34.

Leading decliners were Petronas Dagangan falling 16 sen to RM24.82, Rapid dropping 10 sen to RM5.60 and Hengyuan dipping 10 sen to RM5.80. Most active counters had been Sapura Energy losing 0.5 sen to 32.5 sen, MyEG slipping one sen to RM1.38 and Destini adding one sen to 31 sen. Oil fees prolonged losses for a second straight session as US investories confirmed an surprising increase. US crude fell 17 cents to US$59.24 a barrel and Brent crude dipped 10 cents to US$67.73 a barrel. The ringgit was 0.1% weaker towards a strengthening dollar at 4.0770. It was flat against the pound sterling at 5.3783 and marginally greater over the Singapore dollar at 3.0089.

18Mar

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

 

INTERNATIONAL COMEX NEWS

  • The kings of precious metals, gold and palladium, are both vying for world attention with major price milestones achieved on Friday from global growth fears and a Russian export ban, respectively. U.S. gold futures, as well as globally-traded bullion, moved above the key $1,300 perch after official suggestions of more downward pressure on China’s economy and weakening in U.S. employment trends and New York State manufacturing data.
  • Forget China’s growth, for now — the U.S. might be a bigger problem as New York manufacturing data showed on Friday, casting more economic worries for oil. Both U.S. West Texas Intermediate crude and U.K. Brent oil dipped slightly after the Empire State Manufacturing Index slumped to a reading of 3.70 for March, its third consecutive monthly reading below 10 and the lowest since May 2017.
  • The Trump administration is likely to open up portions of the Atlantic to oil and gas drilling despite opposition from East Coast states, a U.S. Interior Department official suggested in remarks at a recent energy industry conference, a recording of which was reviewed by Reuters. The comments come as the administration of President Donald Trump prepares to release a new five-year drilling plan proposal for federal waters that could vastly expand available acreage, part of its broader agenda to maximize U.S. oil, gas and coal production.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Subsidies will be granted to lure talent from outside mainland China to support development of the Greater Bay Area, a project aimed at deepening integration between Hong Kong and southern Guangdong province, the Ministry of Finance’s tax bureau said on Saturday. The subsidies will be provided in nine cities in southern China to individuals from Hong Kong, Macao, and Taiwan and other parts of the world, according to a document released by the bureau.
  • Brazil does not expect the U.S. government to announce support for its bid to join a club of the world’s advanced economies when its President Jair Bolsonaro visits Washington next week, a senior member of his economic team told Reuters on Friday. Brazil, the world’s eighth-largest economy, applied in 2017 to join the Organization for Economic Cooperation and Development (OECD), a forum of three dozen advanced economies that includes Mexico, Chile and Colombia.
  • Turns out that billionaire investor Warren Buffett doesn’t love Modern Monetary Theory either. “I’m not a fan of MMT — not at all,” the Berkshire Hathaway Inc . chief executive officer said Friday in a telephone interview, adding that the deficit spending that’s part of the theory could risk “spiraling” inflation. “We don’t need to get into danger zones, and we don’t know precisely where they are.” Buffett joins critics including Federal Reserve Chairman Jerome Powell, former U.S. Treasury Secretary Larry Summers, Blackrock Inc .

COMEX GOLD SIGNAL

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15Mar

TODAY’S KLSE STOCK SIGNAL & TECHNICAL REPORT

Today’s KLSE Stock Signal

                         Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

 

Malaysia Stock Market News

  • Heavy churning of penny oil and gas (O&G) stocks on Thursday drove the total market volume to the highest since May last year amid a firmer broader market though blue chips gave up some gains. At 5pm, the KLCI was down 3.72 points or 0.22% to 1,674.52. Advancers beat decliners 491 to 400 while 387 counters were unchanged.However, turnover surged to 4.77 billion shares valued at RM2.74bil, reflecting the low quality buying. Nine out of the 10 most active stocks were O&G counters. Sino-Hua Ann jumped seven sen to 29 sen with 375 million shares done, Destini also added seven sen to 32.5 sen and Sapura Energy eked out one sen to 35 sen. Carimin climbed 10.5 sen to 94 sen, Hibiscus five sen to RM1.07 and Perdana Petroleum rose three sen to 48 sen while Bumi Armada was flat at 19.5 sen. Among the KLCI stocks, Petronas Dagangan fell 18 sen to RM25.12, Petronas Chemical lost five sen to RM9.25, Petronas Gas fell two sen to RM17.68 but Dialog was flat at RM3.20. US light crude oil rose six cents to US$58.32 and Brent added 10 cents to US$67.65.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

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14Mar

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • The United States aims to cut Iran’s crude exports by about 20 percent to below 1 million barrels per day (bpd) from May by requiring importing countries to reduce purchases to avoid U.S. sanctions, two sources familiar with the matter told Reuters. U.S. President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Tehran’s main source of revenue.
  • Democrats in the U.S. House of Representatives gave a cool reception to the replacement for the North American Free Trade Agreement on Wednesday as the top U.S. trade negotiator opened a campaign to win broad support for the accord in Congress. Several Democrats said a closed-door meeting between United States Trade Representative Robert Lighthizer and their caucus failed to ease their concerns about the new U.S.-Mexico-Canada Agreement’s (USMCA) provisions on labor, biologic drugs and some other issues.
  • Gold futures for April delivery were up $10.95, or 0.8%, at $1,309.05 per ounce on the Comex division of the New York Mercantile Exchange by 2:08 PM ET (18:08 GMT). It hit a near two-week peak of $1,309.60 after settling at $1,309.30, up $11.20. Spot gold, reflective of trades in physical bullion, rose by $7.37, or 0.6%, to $1,308.96 by 2:08 PM ET after a session high at $1,309.46. On Wall Street, the S&P 500 index rose almost 1%, as February producer prices indicated benign inflation that strengthened the Federal Reserve’s patient stance on future rate hikes

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The U.S. agency in charge of federal buildings is blaming Congress for delays and a sudden change in plans for a new FBI headquarters, an issue that lawmakers are investigating as a possible conflict of interest for President Donald Trump. Before Trump was elected, the Federal Bureau of Investigation, currently based near the Trump International Hotel in central Washington, was headed for a new home in the suburbs; its crumbling headquarters, for the wrecking ball. But that all changed abruptly in 2017.
  • British finance minister Philip Hammond said on Wednesday he could free billions of pounds for extra public spending or tax cuts, as long as parliament resolves its Brexit impasse. Hammond told lawmakers he could relax his grip on the public finances if they spared Britain the shock of leaving the world’s biggest trading bloc without an agreement. “I hoped we would do that last night, but I am confident that we, as a House, will do it over the coming weeks,” he said.
  • China’s securities watchdog is tightening scrutiny over gray-market margin financing, barring brokerages from facilitating shadow lending and warning against risks of another credit-fueled bubble. The China Securities Regulatory Commission (CSRC) said on Wednesday that its subsidiary in eastern Zhejiang province last week held a meeting with local brokerages, flagging potential risks associated with illegal margin financing and banning them from doing any form of business that could facilitate such a business.

GOLD TRADING FORECAST TODAY

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13Mar

TODAY’S KLSE STOCK SIGNAL & TECHNICAL REPORT

Today’s KLSE Stock Signal

                        Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Malaysia Stock Market News

  • The FBM KLCI went the opposite direction from major Asian markets as it extended its rebound for a second day.CIMB and Axiata led the morning advance, with the two heavyweights adding more than 2.5 points to the index in total.At 12.30pm, the FBM KLCI was up 4.38 points to 1,675.66 on an active trading day, which saw RM2.21 billion shares exchanging hands for RM1.11bil.There were 421 decliners versus 322 advancers and 347 counters unchanged.Axiata, which had slid for three straights days, finally halted its decline and rebounded 11 sen to RM4.17.CIMB grew eight sen to RM5.45, which returns it to last Thursday’s levels, before the Friday’s selloff in global equities.Another KLCI heavyweight on the rise was Public Bank, gaining 10 sen to RM24.50 while KL Kepong added 20 sen to RM25.Stocks seeing the most trading action were Sapura Energy adding 1.5 sen to 34 sen, Perdana Petroleum gaining 10 sen to 40 sen and KNM adding one sen to 11.5 sen.
  • On the regional scene, stock indices came under pressure as the global rebound came to a halt and worries over a no-deal Brexit gripped markets.

    The Shanghai Composite Index was 0.4% lower while the blue chip CSI 300 dropped 0.5%.

    Hong Kong’s Hang Seng slid 0.6% while Japan’s Nikkei was the biggest loser with a 1.2% fall. South Korea’s Kospi followed with a 0.8% slide.

    Oil prices fared better than equities as planned cuts to Saudi exports and reduced forecast for US crude output boosted sentiment.

    US crude rose 30 cents to US$57.17 a barrel and Brent crude grew 21 cents to US$66.88 a barrel.

    In currencies, the ringgit slid 0.2% against the US dollar to 4.09110 and 0.% against the Singapore dollar at 3.0155.

    It rose 0.8% against the pound sterling at 5.3551 following UK lawmakers’ rejection of Prime Minister Theresa May’s EU exit plan last night.

 

  • The restriction on bauxite mining activity will only be withdrawn once all parties adhere to standard operating procedure, Malaysia’s Ministry of Water, Land and Natural Resources says in statement.

* Malaysia may not necessarily allow bauxite mining activity to resume once current moratorium ends on March 31

* Govt will hold public hearing on the matter on April 14

* Govt won’t issue new export licenses unless miners fulfill all the stated requirements

* Miners can’t do any mining and exporting before completing environmental impact assessment, which would take at least 6 months

Today’s KLSE Stock Signal

 

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

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11Mar

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Metal traders will continue to monitor gyrations in the U.S. dollar this week after gold prices rose almost 1% on Friday as a weak U.S. employment report sent the greenback lower and clouded the outlook for the global economy. Markets will get the latest reading on U.S. retail sales on Monday, which are expected to show another decline in January after an unexpected drop at the end of 2018.
  • The Labor Department reported a 20,000-job increase in nonfarm payrolls last month, far fewer than the consensus forecast of 180,000. But traders were encouraged by the unemployment rate falling back below 4% and average hourly earnings accelerating by 0.4%. The U.S. dollar index that tracks the dollar against a basket of six currencies was down 0.36% at 97.314 in late trade.
  • Oil prices rose on Monday, lifted by Saudi oil minister Khalid al-Falih saying an end to OPEC-led supply cuts was unlikely before June and a report of falling U.S. drilling activity. Despite this, markets were somewhat held back after U.S. employment data raised concerns that an economic slowdown in Asia and Europe was spilling into the United States, where growth has so far still been healthy. U.S.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Australia’s corporate watchdog rebuked the country’s biggest banks and financial services firms on Monday for delays fixing internal systems that resulted in customers paying fees for services they had not received. The Australian Securities and Investments Commission (ASIC) said it had been supervising the four biggest banks – Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group Ltd and National Australia Bank Ltd – plus investment bank Macquarie Group Ltd and wealth manager AMP Ltd, as they reviewed the systems which led to wrongful fee charging.
  •  President Donald Trump will propose in his fiscal 2020 budget on Monday that the U.S. Congress cut non-defense spending by 5 percent while boosting spending on the military, veterans’ healthcare and border security, the White House budget office said on Sunday. The Republican president’s proposal, slated for release at 11:30 a.m. (1530 GMT) on the Office of Management and Budget’s website, is expected to be the first volley in this year’s bitter funding fight with Congress, which has control over federal purse strings.
  • The tycoon at the center of a decades-old French legal battle that has dragged politicians and business leaders in its wake goes on trial on Monday accused of fraud. Bernard Tapie, the larger-than-life businessman and one-time chairman of Olympique Marseille football club, is embroiled in a fight over a fraught 1993 corporate deal and the compensation he won from the state 15 years later. She was convicted of negligence but escaped fines or jail time.

COMEX GOLD SIGNAL

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7Mar

TODAY’S KLSE STOCK SIGNAL & TECHNICAL REPORT

Today’s KLSE Stock Signal

                         Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Malaysia Stock Market News

  • The FBM KLCI index gained 1.20 points or 0.07% on Wednesday. The Finance Index fell 0.42% to 17557.36 points, the Properties Index up 1.40% to 918.78 points and the Plantation Index rose 0.61% to 7317.01 points. The market traded within a range of 4.25 points between an intra-day high of 1688.33 and a low of 1684.08 during the session.
  • Actively traded stocks include MYEG, SAPNRG, VELESTO, VS, SAPNRG-WA, SEACERA, DAYANG, BARAKAH, ZELAN and ARMADA. Trading volume increased to 3163.23 mil shares worth RM2530.54 mil as compared to Tuesday’s 2579.98 mil shares worth RM2111.76 mil.
  • Leading Movers were PMETAL (+12 sen to RM4.43), DIALOG (+4 sen to RM3.20), PETCHEM (+11 sen to RM9.30), PETDAG (+28 sen to RM26.68) and SIME (+2 sen to RM2.17). Lagging Movers were RHBBANK (-17 sen to RM5.54), MAHB (-12 sen to RM7.87), CIMB (-7 sen to RM5.52), HARTA (-4 sen to RM4.93) and IHH (-4 sen to RM5.84). Market breadth was positive with 532 gainers as compared to 328 losers.
  • The KLCI closed flat with 1.20 points higher at 1686.82 points despite overnight losses in US market. Market sentiment was muted as lack of fresh lead.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

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6Mar

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold seems to depend, at least for now, on one factor: China. Prices of the yellow metal remained in negative territory for a seventh straight session on Tuesday. The dip, however, was modest as buying emerged at the lower level on news that China had targeted slower growth for 2019 amid its unresolved trade war with the United States. Gold futures for April delivery settled down $2.80 at $1,284.70 per ounce on the Comex division of the New York Mercantile Exchange.
  • Malaysia will present legal and technical arguments this week against an EU plan to limit the use of palm oil, the head of the country’s marketing agency said on Tuesday, opposing a move that could lead to an eventual ban on the edible oil. The European Commission last month said the use of palm oil in motor fuel should be phased out because oil palm cultivation led to deforestation.
  • Oil prices fell nearly 1 percent on Wednesday as bullish output forecasts by two big U.S. producers and a build in U.S. crude stockpiles outweighed ongoing OPEC-led efforts to rein in crude production. International Brent futures were down 55 cents, or 0.8 percent, at $65.31 a barrel at 0209 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $56.05 per barrel, down 51 cents, or 0.9 percent.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Britain’s 800-year-old parliament has a big decision to make, and little time to make it. After months of drama and delay, the country’s fate could be decided next week in a series of Brexit votes in which lawmakers must choose one of two wood-panelled corridors to shuffle down inside the neo-gothic Westminster palace. Each vote, known as a division, takes about 15 minutes. If it takes too long, the Serjeant-at-Arms, dressed in shiny black shoes, knee-high socks and a long woollen suit, will be sent bearing a ceremonial sword to investigate.
  • Bank of Japan board member Yutaka Harada said on Wednesday the central bank must ramp up stimulus without delay if risks to the economy threaten achievement of its inflation target. Harada, a vocal advocate of aggressive monetary easing, said Japan’s economy was facing growing risks, including from slowing demand in China, simmering trade tensions, volatile stock price moves and weak private consumption.
  • Britain’s scheduled departure from the European Union on March 29 will be delayed by a few months, a Reuters poll found, and a majority of economists say the two sides will eventually agree a free-trade deal. Prime Minister Theresa May is seeking to rework the Brexit deal she agreed with EU leaders and has raised the possibility of a delay of the departure date until June. All but three of 54 economists who answered an extra question in the Feb. 28-March 5 poll said the more than four-decade marriage between Britain and the EU would not be dissolved in a little over three weeks time as planned.

GOLD TRADING FORECAST TODAY

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5Mar

TODAY’S KLSE STOCK SIGNAL & TECHNICAL REPORT

Today’s KLSE Stock Signal

                        Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Malaysia Stock Market News

  • The FBM KLCI index lost 6.77 points or 0.40% on Monday. The Finance Index fell 0.04% to 17722.22 points, the Properties Index dropped 0.07% to 910.03 points and the Plantation Index down 0.11% to 7266 points. The market traded within a range of 10.65 points between an intraday high of 1698.87 and a low of 1688.22 during the session.
  • Actively traded stocks include DAYA, SAPNRG, ARMADA, DAYANG, IWCITY, PERDANA, VS, HSIC3W, SAPNRG-WA and CARIMIN. Trading volume increased to 3140.80 mil shares worth RM2157.73 mil as compared to Friday’s 2901.03 mil shares worth RM2345.07 mil.
  • Leading Movers were PMETAL (+8 sen to RM4.28), RHBBANK (+6 sen to RM5.75), DIALOG (+2 sen to RM3.20), DIGI (+2 sen to RM4.58) and HLFG (+4 sen to RM19.60). Lagging Movers were PETDAG (-50 sen to RM26.20), SIME (-4 sen to RM2.14), GENTING (-11 sen to RM7.13), MAXIS (-8 sen to RM5.31) and GENM (-4 sen to RM3.40). Market breadth was negative with 426 gainers as compared to 448 losers.
  • The KLCI started the week on a negative note, closing lower at 1693.99 points despite overnight gain in US markets.. The performance of our local bourse was bogged down by selling interest in heavy weight counters such Press Metal, RHB Bank and Dialog Group.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

For More information and daily updated KLSE stock picks, Comex signals, Forex signals Click here – http://www.epicresearch.my or Whatsapp us at +917312580605

1Mar

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Oil prices rose on Friday as markets tightened amid output cuts by producer club OPEC, but surging U.S. supply and a global economic slowdown prevented crude from climbing further. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.45 per barrel at 0116 GMT, up 23 cents, or 0.4 percent, from their last settlement. International Brent crude futures were at $66.55 per barrel, up 24 cents, or 0.4 percent.
  • The United States on Thursday laid out objectives for a trade deal with the United Kingdom that would ensure fair and balanced trade, cut tariff and non-tariff barriers for U.S. industrial and agricultural goods and reduce regulatory differences. The negotiating objectives, required by Congress under the “fast-track trade negotiating authority law, will seek to boost trade between the countries by eliminating tariff and non-tariff barriers,” the U.S. Trade Representative’s office said.
  • India’s diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May. Surging diesel consumption in India, the world’s third-largest oil user, underscores the country’s importance as a driver of global oil demand. Amid increasing concerns that crude demand growth may slip in 2019 because of slowing economic growth, India’s burgeoning fuel consumption may help underpin oil and fuel prices.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • A rise in productivity last year gives more room for wages to grow without the risk of higher inflation, Federal Reserve Chairman Jerome Powell said on Thursday, offering another reason why the U.S. central bank can hold off on further rate increases. “Signs of upward pressure on inflation appear muted despite the strong labor market,” with unemployment at 4 percent and wage increases picking up of late, Powell said in remarks prepared for delivery at the Citizens Budget Commission in New York.
  • China on Friday said it regretted a lack of support from experts after the United States won a World Trade Organization (WTO) ruling on China’s wheat and rice subsidies. The Ministry of Commerce said in a statement that government support for the agriculture sector was allowed under WTO rules and was a common practice among countries. China will continue to promote development of the sector in line with WTO rules and safeguard the stability of the multi-lateral trade system, it added.
  • Faced with a serious slowdown in euro zone economic growth, the European Central Bank is set to delay hiking interest rates from record lows until next year and will soon re-launch its offer of long-term loans to banks, a Reuters poll found. But over 60 percent of economists said there would be no change to rate guidance at its March 7 policy meeting or any official announcement yet of long-term loans.

COMEX GOLD SIGNAL

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