16Oct

FBM KLCI Index Gained 22.25 Points Last Week

The FBM KLCI index gained 22.25 points or 1.30% on Friday. The Finance Index increased 1.80% to 17528.62 points, the Properties Index dropped 0.18% to 903.89 points and the Plantation Index rose 0.26% to 7411.8 points. The market traded within a range of 28.24 points between an intra-day high of 1732.16 and a low of 1703.92 during the session.

Actively traded stocks include HIBISCS, SAPNRG, BORNOIL, MYEG, GAMUDA, HSI-C3V, VC, A50CHIN-H23, VS-WA and ORION. Trading volume decreased to 2216.97 mil shares worth RM2494.47 mil as compared to Thursday’s 3104.46 mil shares worth RM3703.38 mil.

blog 16th oct

 

Leading Movers were PETGAS (+124 sen to RM18.48), CIMB (+29 sen to RM5.95), IHH (+18 sen to RM5.18), MAYBANK (+30 sen to RM9.58) and TENAGA (+32 sen to RM14.60). Lagging Movers were AXIATA (-10 sen to RM3.91), MISC (-9 sen to RM5.57), TM (-4 sen to RM2.60), GENM (-6 sen to RM4.35) and SIME (-2 sen to RM2.58).

 

 

 

Market breadth was positive with 578 gainers as compared to 334 losers. The KLCI halted its losing streak after gained 22.25 points to 1730.74 points despite overnight losses in US markets. The gain in our benchmark index was underpinned by buying in heavyweight counters, led by Petronas Gas.

 


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15Oct

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 eased Friday on light profit-taking, a day after achieving its biggest one-day rally in two years. But support remained solid above the $1,200 level from safe-haven demand triggered by the recent weakness on Wall Street and spike in Treasury yields. “My 35 years on the floor have seen all this before,” George Gero, analyst at the RBC Wealth Management in New York, said, referring to gold’s ability to stay above the $1,200 level despite a series of rate hikes planned by the U.S. Federal Reserve.
  • The winter heating season officially began this month, with U.S. supplies of natural gas roughly 17% below the five-year average for this time of year—sending prices for the commodity to their highest levels since January. That could presage elevated, volatile prices as temperatures begin to fall. Domestic natural-gas supplies in storage stood at 2.956 trillion cubic feet for the week ended Oct. 5, according to the U.S. Energy Information Administration.
  • Oil prices rebounded Friday from the previous day’s rout, but still logged their biggest weekly loss since the second quarter after data showed U.S. drillers ramping up output, even as a second global energy agency said the market was adequately supplied. A weekly reading on the U.S. oil rig count rose by eight, the first such climb in four weeks, which signaled the U.S. shale crude industry was intensifying drilling with prices near four-year highs.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Italian officials must stop questioning the euro and need to “calm down” in their budget debate as they have already caused damage to firms and households, European Central Bank ECB President Mario Draghi said on Saturday. Italy’s government has been locked in a war of words with European officials over Rome’s plans to triple the deficit next year, backtracking on a previous pledge to narrow the budget gap in one of the bloc’s most indebted countries.
  • The International Monetary Fund said on Saturday its members pledged to refrain from competitive currency devaluations and step up dialogue on trade, as escalating trade frictions and higher borrowing costs threatened to knock global growth. The agreement came as U.S. Treasury Secretary Steve Mnuchin reiterated his concern over the yuan’s weakening against the dollar – a drop that Washington suspects may be aimed at giving Chinese exports a trade advantage and offsetting U.S. tariffs.
  • Japan wants to highlight global imbalances as key topics of debate, and take steps to fix them, when it chairs next year’s gatherings of the Group of 20 major economies, government officials said this week. Tokyo hopes other countries would join Japan to counter U.S. President Donald Trump’s focus on narrowing U.S. trade deficits through purely bilateral trade deals, the officials say, rather than the big international agreements now in place.

15oct5

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12Oct

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices rose more than 1% on Thursday, regaining the psychologically important $1,200 level as a rout in global stock markets spurred by fears over rising bond yields, slowing global growth and trade tensions bolstered safe haven demand. December gold futures were up $13.90 or 1.16% to $1,207.30 by 07:45 AM ET (11:45 GMT) on the Comex division of the New York Mercantile Exchange.
  • OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group’s secretary-general said on Thursday, suggesting producers are in no rush to expand a June agreement that raises output. Oil prices have rallied this year on expectations that U.S. sanctions on Iran will strain supplies by lowering shipments from OPEC’s third largest oil producer.
  • Chinese oil buyers are making a beeline for a bargain across the Pacific. With Canadian oil over 60 percent cheaper than U.S. benchmark West Texas Intermediate and global marker Brent, China’s refiners are being lured to the heavy and sludgy crude. That’s because, apart from being a source of fuel, it’s also rich in bitumen — a black residue used to build everything from roads to runways and roofs.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • U.S. President Donald Trump launched a second day of criticism against the Federal Reserve on Thursday, calling its interest rate increases a “ridiculous” policy that was making it more expensive for his administration to finance its escalating deficits. “I’m paying interest at a high rate because of our Fed. And I’d like our Fed not to be so aggressive because I think they’re making a big mistake,” Trump said in a Thursday morning interview on Fox & Friends.
  • White House economic adviser Larry Kudlow said in an interview with CNBC on Thursday that the Federal Reserve remained independent and U.S. President Donald Trump is not dictating policy to the Fed. His remarks came hours after Trump criticized the Fed for raising interest rates too quickly, in his second attack against the central bank in the past 24 hours.
  • China drew over $17 billion in orders for a sovereign dollar bond sale of $3 billion on Thursday against a backdrop of a global market sell-off and trade war with the United States. The $3 billion deal is only the third U.S.-dollar denominated issuance by China in the last 14 years. It returned to global markets in October last year for the first time since 2004. China is selling five-year, 10-year and 30-year bonds at 30-35, 45-50, 70-75 basis points (bps) over U.S. Treasuries, respectively, according to a term sheet seen by Reuters.

COMEX GOLD SIGNAL

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12Oct

The FBM KLCI Index Lost 38.97 Points

The FBM KLCI index lost 38.97 points or 2.20% on Wednesday. The Finance Index fell 1.08% to 17487.66 points, the Properties Index dropped 3.45% to 922.06 points and the Plantation Index down 0.61% to 7449.27 points. The market traded within a range of 49.29 points between an intra-day high of 1781.79 and a low of 1732.50 during the session.

Actively traded stocks include GAMUDA, SAPNRG, HIBISCS, HSI-C3T, BORNOIL, MYEG, ORION, GLOTEC, MRCB and NETX. Trading volume increased to 3024.92 mil shares worth RM2958.59 mil as compared to Tuesday’s 1804.83 mil shares worth RM1526.14 mil.

12 oct 18

 

Leading Movers were MISC (+13 sen to RM5.79), SIME (+3 sen to RM2.63), KLCC (+5 sen to RM7.60), PMETAL (+1 sen to RM4.91) and KLK (+2 sen to RM24.94). Lagging Movers were TM (- 48 sen to RM2.55), AXIATA (-51 sen to RM3.85), GENTING (-46 sen to RM7.30), GENM (-27 sen to RM4.66) and TENAGA (-70 sen to RM14.68).

 

Market breadth was negative with 116 gainers as compared to 994 losers. The KLCI tumbled to 1735.18 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 TM, Axiata and Genting.

12Oct
3

Epic Research| Forex Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar holds losses after CPI rises less than forecast
Forex – GBP/USD hits near 3-week tops, around mid-1.3200s
Forex – EUR/USD tests tops near 1.1600 post-US CPI

EUR/USD

Poor results from the US docket have given extra boost to EUR/USD, which managed to clinch fresh tops just below 1.1600 the figure today. Spot keeps the rally well and sound so far on Wednesday, advancing to the boundaries of 1.1600 the figure after US CPI results failed to meet consensus during last month. In fact, headline consumer prices rose at a monthly 0.1% and 2.3% over the last twelve months, coming in below prior surveys. In the same line, prices stripping food and energy costs gained 0.1% inter-month and 2.2% on an annualized basis. The demand for the single currency remains quite solid in the wake of the US data, while the recent publication of the ECB minutes showed the central bank remains in ‘auto-pilot’ for the time being, eyeing the first rate hike at some point in September/October 2019. The pair moved higher to fresh lows around 1.1600 the figure. The greenback tumbles further and challenges the 95.10 area. US CPI rose less than expected during September.

GBP/USD

The GBP/USD pair quickly reversed an early European session dip to a session low level of 1.3182 and refreshed daily tops, around mid-1.3200s post-US CPI. The US Dollar weakened across the board in a knee-jerk reaction to softer-than-expected US consumer inflation figures, showing that the headline CPI rose a modest 0.1% m/m in September. Adding to the disappointment, core CPI, which excludes food and energy prices, also fell short of market expectations and the yearly rate unexpectedly held steady as against a minor uptick anticipated. The greenback was further weighed down by the US President Donald Trump’s criticism over the pace of Fed rate hikes, saying that the Fed is too aggressive and that they are making a big mistake. Against the backdrop of recent Brexit optimism, a fresh wave of USD selling pressure lifted the pair to near three week tops during the early North-American session, marking its fifth session of positive movement in the previous six.

12 fx

 

 

 

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11Oct

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 prices were largely unchanged on Wednesday, as investors grappled with rising U.S. interest rates, although the metal drew some support from the dollar coming off a seven-week high. Comex gold futures were down 20 cents at $1,191.30 a troy ounce by 10:28AM ET. Meanwhile, spot gold was trading at $1,188.35 per ounce, down $1.50, or 0.1%. Yields on the benchmark 10-year Treasury bond rose to around 3.23%, after reaching a seven-year top of 3.261% a day earlier.
  • Crude prices edged lower on Wednesday, as investors watched Hurricane Michael, which has intensified to Category 4 storm and was barreling down on Florida. Some of the storm’s most significant early impact was to offshore energy production. U.S. producers in the Gulf cut oil production by about 40%, the Bureau of Safety and Environmental Enforcement said, as they evacuated personnel from 75 platforms in the region.
  • The world’s biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic. The range of views illustrates deep uncertainty among top industry players over the outlook, given the reimposition of sanctions on Iran and forecasts of slowing economies and energy demand in 2019, potentially leading to choppy trading.

ECONOMY NEWS

ECONOMY NEWS

  • The European Union should change its budget rules to make them more effective in bringing down public debts, EU fiscal advisers said in a report on Wednesday, urging the bloc to scrap deficit targets for countries where debt is falling. The publication of the report coincides with a row between Italy and Brussels over the country’s 2019 budget, in which the eurosceptic Italian government plans to flout EU fiscal rules to fulfill electoral promises of government largesse.
  • Despite thousands of jobs set to move to the continent due to Brexit, Britain’s financial services minister said on Wednesday he would do all he can to ensure the City of London remains a major financial center. John Glen told lawmakers that he agreed with Bank of England estimates that 5,000 financial services jobs will have moved to continental Europe by the time Britain is due to leave the European Union next March.
  • Sears Holdings Corp (O:SHLD) is preparing to file for Chapter 11 bankruptcy protection as early as Friday, sources said on Wednesday, casting doubt over the future of what was once the world’s largest retailer. Negotiations between Sears Chief Executive Officer Eddie Lampert and the company’s special board committee are at a standstill over the committee’s refusal to approve Lampert’s rescue plan, the sources said. The committee is concerned it will be opening the company up to litigation, one source said. Sears shares were down 27 percent at 43 cents. The stock, which traded above $100 a decade ago, has fallen to less than $1 in the past year.

11oct5

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10Oct

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices moved higher on Tuesday, pulling away from one-week lows as rising U.S. bond yields and concerns over the outlook for global growth soured market sentiment. December gold futures were up $3.20 or 0.27% to $1,191.8 by 10:30 AM ET (14:31 GMT) on the Comex division of the New York Mercantile Exchange. Prices settled at $1,184.40 on Monday, the lowest close since Sept. 28.
  • Crude prices nudged higher on Tuesday after companies operating in the Gulf of Mexico shut down nearly 20% of oil production as Hurricane Michael moved towards eastern Gulf states, including Florida. As Michael moved over open water, energy companies halted nearly one-fifth of Gulf of Mexico oil production and evacuated personnel from 10 platforms on Monday.
  • Energy companies are betting demand for natural gas will rise at break-neck pace for decades, undermining warnings that tackling climate change would require a rapid switch to renewable energy. Top oil companies including Royal Dutch Shell (AS:RDSa), BP (L:BP) and Total(PA:TOTF) are adapting with growing urgency to the need to develop cleaner energy sources, investing more and more in solar and wind power, electric vehicle technology and even forestation.c

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Economic policymakers gathering in Indonesia for this week’s annual meetings of the International Monetary Fund and World Bank should highlight risks to the global economy posed by rising protectionism, the host nation’s finance minister said. The prospect of a further escalation in the trade war between the United States and China – the world’s two largest economies – will haunt finance ministers, central bankers and economists flocking to the resort island of Bali to attend the meetings, which begin on Thursday.
  • The recent jump in U.S. bond yields suggests there is uncertainty among investors over future economic growth prospects, Federal Reserve Bank of Dallas President Robert Kaplan said on Tuesday. The 10-year Treasury yield, which reached a fresh multi-year high on Tuesday, is “telling me that prospects for future U.S. growth are somewhat sluggish (and) that outward growth is looking a little more uncertain,” he said at the Economic Club of New York.
  • Turkey’s private sector has agreed to cut prices on its goods by at least 10 percent across the board, Finance Minister Berat Albayrak said on Tuesday, as he called on businesses to join a national struggle to tame soaring inflation. Berat Albayrak, President Tayyip Erdogan’s son-in-law, rolled out the measures as part of a “fully fledged fight” against inflation. The announcement appeared to leave financial markets cold, however. The lira weakened slightly as he spoke in Istanbul and was at 6.1484 at 1157 GMT, a touch weaker on the day.

COMEX GOLD SIGNAL

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10Oct

FBM KLCI Index Lost 1.60 Points

The FBM KLCI index lost 1.60 points or 0.09% on Tuesday. The Finance Index increased 0.00% to 17678.69 points, the Properties Index dropped 0.31% to 954.96 points and the Plantation Index rose 0.02% to 7495.3 points. The market traded within a range of 5.52 points between an intraday high of 1776.68 and a low of 1771.16 during the session.

Actively traded stocks include SAPNRG, GAMUDA, SGB-PA, HIBISCS, HSI-C3T, HSI-H4O, SANBUMI, VS-WA, MYEG and REACH. Trading volume decreased to 1804.83 mil shares worth RM1526.14 mil as compared to Monday’s 2369.80 mil shares worth RM1820.96 mil.

10 oct 18

 

Leading Movers were AXIATA (+12 sen to RM4.41), TM (+2 sen to RM3.03), SIMEPLT (+2 sen to RM5.27), RHBBANK (+2 sen to RM5.30) and PETDAG (+8 sen to RM26.08). Lagging Movers were PETGAS (-44 sen to RM18.30), MISC (-10 sen to RM5.66), DIGI (-6 sen to RM4.65), HARTA (-6 sen to RM6.25) and GENTING (-5 sen to RM7.76).

 

Market breadth was negative with 345 gainers as compared to 469 losers. The KLCI closed lower at 1774.15 point amid overnight mixed performance in US market. The performance of our local bourse was lifted by buying interest in heavy counters such as Petronas Gas, MISC and Digi.

9Oct

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 prices were lower on Monday as the greenback continued to rise on expectations of a Federal Reserve rate increase in December. Comex gold futures for December delivery fell 1.27% to $1,190.30 a troy ounce as of 10:05 AM ET (14:05 GMT),. The precious metal was pushed lower after the jobs report on Friday increased expectations that the Fed will raise rates.
  • Oil prices edged lower on Monday, after the U.S. said it may grant waivers to sanctions against Iran’s crude exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran. November West Texas Intermediate crude, the U.S. benchmark contract, shed 23 cents, or around 0.3%, to $74.11 a barrel at 10:00AM ET on the New York Mercantile Exchange.
  • Iran’s Oil Minister Bijan Zanganeh has dismissed as “nonsense” claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market. “(Mohammed) bin Salman’s remarks and such bragging can only satisfy (U.S. President Donald) Trump. No one else will believe him. Iran’s oil cannot be replaced by Saudi Arabia nor any other country,” Zanganeh was quoted as saying on his ministry’s website.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • India hopes to secure a waiver from U.S. sanctions on Iran before they take effect on Nov. 4, as it had significantly cut Iranian oil imports before the deadline, officials said on Monday. The United States is imposing new sanctions on Iran’s oil industry after Washington withdrew from a nuclear deal between Tehran and other global powers. Washington said on Friday it was considering waivers for nations that were reducing imports of Iranian oil.
  • Emerging markets were “as prepared as they can be” for changes to U.S. monetary policy as the Federal Reserve had been as “transparent” as possible, St. Louis Federal Reserve Bank President James Bullard said in Singapore on Monday. Some emerging markets have come under pressure this year as rising U.S. interest rates have drawn investors away, and due to fears of fall out from an escalating tariff war between the United States and China.
  • Indonesia plans to use meetings between global finance ministers and central bank chiefs on the island of Bali this week to push for more clarity on the path of interest rates in advanced countries, the country’s central bank governor said on Monday. Indonesia and some other emerging economies have been hit hard as investors cut their risk appetite for assets amid a rise in U.S. interest rates and an intensifying trade war between Beijing and Washington.

GOLD TRADING FORECAST TODAY

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8Oct

The FBM KLCI Index Lost 12.96 Points

The FBM KLCI index lost 12.96 points or 0.72% on Friday. The Finance Index fell 0.28% to 17712.12 points, the Properties Index dropped 0.72% to 968.1 points and the Plantation Index down 0.26% to 7482.43 points. The market traded within a range of 11.00 points between an intra-day high of 1787.52 and a low of 1776.52 during the session.

Blog 8 oct 18

 

Actively traded stocks include SAPNRG, MRCB, HSI-C3Q, MYEG, HSI-H4O, YONGTAI, BORNOIL, SANBUMI, HSI-C3P and GBGAQRS-WB. Trading volume decreased to 2054.47 mil shares worth RM1886.26 mil as compared to Thursday’s 2060.71 mil shares worth RM2454.67 mil.

Top 5 8 oct 18

Leading Movers were KLCC (+5 sen to RM7.55), HLBANK (+0 sen to RM20.60), SIMEPLT (+0 sen to RM5.25), KLK (+2 sen to RM25.00) and PBBANK (+2 sen to RM24.98). Lagging Movers were AXIATA (-20 sen to RM4.30), DIALOG (-9 sen to RM3.44), MISC (-13 sen to RM5.80), IHH (-9 sen to RM5.10) and TM (-5 sen to RM3.08). Market breadth was negative with 265 gainers as compared to 639 losers.

 


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