Monthly Archives: April 2019

10Apr

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

  • Oil prices crept higher on Wednesday, supported by supply cuts by producer club OPEC and U.S. sanctions against oil exporters Iran and Venezuela, but restricted by expectations that an economic slowdown could soon dent fuel consumption. International benchmark Brent futures were at $70.66 per barrel at 0158 GMT, up 5 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $64.10 per barrel, up 12 cents, or 0.2 percent, above their last settlement.
  • President Donald Trump will issue two executive orders in the heart of the Texas energy hub on Wednesday seeking to speed gas, coal and oil projects delayed by coastal states as he looks to build support ahead of next year’s election. Trump’s orders will direct his Environmental Protection Agency to change a part of the U.S. clean water law that has allowed states, on the basis of environmental reasons, to delay projects such as pipelines to carry natural gas to New England and coal export terminals on the West Coast.
  •  U.S. Agriculture Secretary Sonny Perdue said on Tuesday that talks with China about reducing Beijing’s tariff on U.S. ethanol products were “positive,” but cautioned the discussions were not over. “There have been conversations with China on reducing that tariff on ethanol, which would obviously be good for our domestic corn industry,” he told reporters. “While things look positive, it’s never over till it’s over with the Chinese.”

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world’s largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, even though such activities previously fell under a regulatory grey area.
  • Bank of Japan Governor Haruhiko Kuroda said on Wednesday the central bank was seeking to create a condition in which any acceleration in inflation is accompanied by rises in corporate profits and wages. “The BOJ isn’t seeking to push up inflation alone. We want to create a situation where wage and employment conditions improve too … and a positive economic cycle is created,” Kuroda told parliament.
  • A political feud over President Donald Trump’s picks for the U.S. Federal Reserve Board broke into an open brawl on Tuesday even before the nominations of Herman Cain, a former restaurant chain executive, and Stephen Moore, a conservative economic commentator, have been formally submitted to the Senate. Cain and Moore, both overt loyalists to the president, in recent days have waged unprecedented public campaigns for the Fed jobs, with both eagerly endorsing Trump’s economic policies and Moore pledging to “accommodate” those policies once he is at the Fed.

GOLD TRADING FORECAST TODAY

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8Apr

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 3.26 points or 0.20% on Friday. The Finance Index fell 0.20% to 16888.72 points, the Properties Index dropped 0.69% to 907.62 points and the Plantation Index rose 0.40% to 7236.55 points. The market traded within a range of 4.79 points between an intra-day high of 1645.09 and a low of 1640.30 during the session.

Actively traded stocks include SCOMI, TRIVE, PWORTH, SAPNRG, SCOMI-WB, HIBISCS, ICON, ARMADA, BIOOSMO and PUC. Trading volume decreased to 2650.18 mil shares worth RM1574.81 mil as compared to Thursday’s 3183.84 mil shares worth RM2128.16 mil.

Leading Movers were SIMEPLT (+10 sen to RM5.15), MAHB (+2 sen to RM7.11), DIGI (+1 sen to RM4.70), CIMB (+1 sen to RM5.11) and AXIATA (+0 sen to RM4.18). Lagging Movers were MAXIS (-11 sen to RM5.49), GENM (-6 sen to RM3.19), TOPGLOV (-5 sen to RM4.60), HLFG (-16 sen to RM19.02) and DIALOG (-2 sen to RM3.18). Market breadth was negative with 381 gainers as compared to 388 losers.

The KLCI tumbled to 1641.81 points amid overnight mixed performance in US market. The performance of our local bourse was bogged down by selling interest in heavy weight counters such as Maxis, Genting Malaysia and Top Glove.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

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4Apr

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

Continuous buying by funds and gains on heavyweights helped propel the benchmark FBM KLCI index higher on Wednesday.

At closing, the bellwether FBM KLCI added 10.38 points, or 0.64%, to close at 1,643.21 on strong interest in Genting Group stocks as well banking stocks. The market traded within a range of 9.74 points between an intra-day high of 1,645.54 and a low of 1,635.80 during the session.

In the broader market, there were 490 gainers, 329 losers while 414 counters unchanged. Trading volume stood at 2.66 billion shares worth RM1.93bil.

Dealers said continued buying in selected heavyweights pushed the key index to finish higher buoyed by the progress over US-China trade talks. In today’s session, 22 of the KLCI-component stocks were traded higher, seven counters fell while the remaining one closed unchanged.

Major stock advancers among the FBM KLCI component stocks included IHH Healthcare, which gained 18 sen to RM5.60, Public Bank added 30 sen to RM23, Genting rose 25 sen to RM6.85 and Genting Malaysia advanced 11 sen to RM3.28.

Laggards in the FBM KLCI component stocks included Maxis, which fell four sen to RM5.49, Tenaga declined four sen to RM12.54 and Petronas Chemicals shed two sen to RM9.08.

Today’s KLSE Stock Signal

Today’s KLSE Stock Signal

4april6

 

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3Apr

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

  • Oil prices rose for a fourth day on Wednesday, holding firm despite an industry report showing that U.S. inventories rose unexpectedly last week, with supply cuts and sanctions supporting the market. Brent futures rose 22 cents, or 0.3 percent, to $69.59 a barrel by 0028 GMT, after earlier reaching $69.68, the highest since Nov. 13. The global benchmark closed half a percent higher on Tuesday. U.S. West Texas Intermediate crude rose 6 cents, or 0.1 percent, to $62.64 cents a barrel.
  • Crude advanced to the highest this year after a further reduction in supply from OPEC signaled that global markets are tightening. Futures added 1.6 percent to the highest level since November in New York on Tuesday. Declines in OPEC production are stoking optimism among investors as Saudi Arabia pressed on with output curbs and as power blackouts in Venezuela further squeezed supplies.
  • The good news for gold bugs is there’s always some news on economic uncertainty out there to keep the yellow metal from collapsing. The bad news is there hasn’t been enough news of economic uncertainty lately to push prices back above the key $1,300 level. Bullion and futures of gold rose on Tuesday as latest U.S. data renewed worries about growth in the world’s largest economy. Spot gold, reflective of trades in bullion, was at $1,291.62 an ounce by 2:42 PM ET (18:42 GMT), up $3.90, or 0.3%.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Growth in developing Asia could slow for a second straight year in 2019 and lose further momentum in 2020, the Asian Development Bank (ADB) said on Wednesday, warning of rising economic risks from a bitter Sino-U.S.trade war and a potentially disorderly Brexit. Developing Asia, which groups 45 countries in the Asia-Pacific region, is expected to grow 5.7 this year, the ADB said in its Asian Development Outlook report, slowing from a projected 5.9 percent expansion in 2018 and 6.2 percent growth in 2017.
  • South Korea’s finance minister said on Wednesday the ministry will submit a supplementary budget of smaller than 9 trillion won ($7.9 billion) in size to the parliament by the end of April. “The size of the extra budget hasn’t been confirmed yet, but I think it would be smaller than the size that the International Monetary Fund (IMF) suggested,” Hong Nam-ki told reporters after a policy meeting in Seoul.
  • The U.S. Federal Reserve’s dovish turn has probably delayed the arrival of a key bond market recession indicator to 2020, a bit later than predicted three months ago, according to the latest Reuters poll of bond strategists. Only about one-fifth of those answering an additional question expected the gap between U.S. 2-year and 10-year note yields to invert within the next six months, compared to over one-third in the previous poll.

GOLD TRADING FORECAST TODAY

For More information and daily updated KLSE stock picks, Comex signals, Forex signals Click here – http://www.epicresearch.my or Whatsapp us at :- https://goo.gl/CjAfNm

 

2Apr

Algerian association archives RM370m declare towards Malakoff, Hyflux JV

wc-hyflux-1602

 

An Algerian company had filed a declare for 80mil euros (RM370mil) in opposition to Tlemcen Desalianation Investment Co. SAS (TDIC), Singapore’s Hyflux Ltd and Malakoff Bhd over a desalination undertaking in that country.

Independent strength enterprise Malakoff announced to Bursa on Wednesday two Algerian Energy Co, SPA (AEC) used to be suing the joint-venture organizations for alleged two breaches and negligence in the design, operation and maintenance of its plant

Malakoff stated its legal professionals in Paris had knowledgeable it that AEC had filed its request for arbitration  at the International Chamber of Commerce International Court of Arbitration.

The claim was in relation to the water buy agreement and a framework settlement in December 2007 and the joint-venture settlement dated March 28, 2007.

Malakoff stated AEC claimed the three companies have been accountable for breaches and negligence in the design, operation and maintenance of the plant.

AEC additionally referred to the three organizations or respondents had wrongly objected to the termination of the water purchase agreement, switch of shares to AEC and carrying out of technical audit under the framework agreement.

AEC claimed the respondents had breached their contractual tasks and sought an order for them to pay the fees to repair the plant.

AEC sought an order for the respondents to indemnify AEC for damages incurred as a end result of their breaches, estimated on an period in-between groundwork at 80mil euros.

It also sought an order that the respondents warranty the charge or reimburse the excellent of 3.929bil Algerian dinar which was imposed on Almiyah Attilemcania SPA (AAS) by Algerian courts and presently pending effect of AAS’ attraction at the Algerian Supreme Court).

Malakoff stated it appointed global arbitration lawyers in Paris and Kuala Lumpur to advise on and take the indispensable steps to protect its role and two task AEC’s claims in the ICC arbitration, and perchance counterclaim in opposition to AEC.

To recap, AAS is a joint stock company included in Algeria for the design, set up and operation of the plant. two TDIC holds 51% of AAS and AEC 49%. The shareholders of TDIC, a enterprise integrated in France, are Malakoff AlDjazair Desal Sdn Bhd (MADSB) and MenaSpring Utility (Tlemcen) Pte Ltd (MUPL), conserving 70% and 30% of the shares respectively.

MADSB is a unit  of Malakoff whilst MUPL is entirely owned by way of Hyflux.

Malakoff stated the group’s carrying amount of funding in AAS had been thoroughly supplied for in 2016.

“The request is no longer anticipated to have any operational affect to Malakoff. The monetary impact, if any, of the request, cannot be determined with finality at this juncture as the claims are still being reviewed through Malakoff’s lawyers,” it said.

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