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KLCI down 15.87pts on bond sell-off, ringgit weakens
http://www.theedgemarkets.com/my/article/k...ns?type=Markets

nice

FBM KLCI is expected to stabilise and track sideways next week on the back of steadying global markets as well as several local developments, including the upcoming mega Malakoff Corporation Bhd initial public offering (IPO) and the tabling of the 11th Malaysia Economic Plan in Parliament later this month.

Any weakness however should be cushioned by positive momentum from ringgit (w-o-w up 4.2% to 3.5650), brent oil price (w-o-w up 3.8% to USD69.20), the tabling of 11th Malaysian Economic Plan and the upcoming Malakoff mega IPO.

The key index however had softly rebounded from its 200-day moving average level.

“Although buying momentum remains weak, oscillators such as Stochastic and RSI have flashed a crossover buy signal from oversold territories.

“Overall, the FBM KLCI has corrected a healthy 62 points or 3.3% on a declining daily volume after it hit seven month high on April 27 (1867.53),”

Bursa expect to remain moderately cautious and continue to trade sideways with upside bias between 1820-1840 this coming week.

forgotten counter

KLCI declined 6.88 points or 0.4% to 1,798.61 points after trading in red territory throughout the day as Greece's debt sentiment and the global bond sell-off persisted.

Across Bursa Malaysia, 1.63 billion shares worth RM1.7 billion were traded. Market gainers trailed decliners by 240 versus 576 while 319 counters were unchanged.

A bank-backed research house analyst told that the KLCI was under selling pressure after the index opened below 1,800 points today.

“It led investors to sell,” he said over telephone. The analyst said he foresaw the index consolidating further.

From a technical viewpoint, Kenanga Investment Bank wrote in a note earlier today the oversold situation in Malaysian shares appeared to be deepening as indicators headed further south.

“This further supports our view that the key index could potentially find its footing around the 1,800/1,780-support zone where we expect buying support to emerge,” Kenanga said.

fuh.. 116 Active User

FBM KLCI closed 1,807.55 points, up 4.53 points or 0.25%. Across the board, a total of 1.57 billion shares worth RM1.79 billion traded. Market gainers beat losers by 411 versus 355, while 359 counters were unchanged.

“There is not much excitement in the stock market today although the index managed to stay above 1,800 points. The trading volume was not high as it was less than two billion (shares),” a fund manager said.

He said the listing of power producer Malakoff Bhd tomorrow might help to bring excitement to the local bourse.

Hong Leong Investment Bank Research in a report today commented that the KLCI is “not out of the woods” yet, given a host of domestic and external challenges.

It said the overall sentiment remained cautious amid lingering domestic concerns such as on-going uninspiring first quarter reporting season, potential Fitch rating downgrade during its next review in May/June and latest fiasco surrounding 1Malaysia Development Bhd (1MDB).

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Record HIGH

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u see how active there.. within few minutes 1page change

no comments

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btw the performance really bad yo

FBM KLCI was down 2.55 points or 0.14% to 1,805 midday. Turnover was 895.09 million shares valued at RM892.57mil. There were 257 gainers and 366 losers.

Weighing down the KLCI was Genting Bhd after casino operator Genting Singapore’s weak first quarter earnings.

bad news

KLCI was up 4.37 points or 0.24% to 1,811.92. Turnover was 1.74 billion shares valued at RM1.84bil. There were 411 gainers, 358 losers and 334 counters unchanged.

A technical chartist envisaged the KLCI to trade range-bound, but with a mild positive bias next week.

“Initial support is resting at the 1,793 points level, which is the 38.2% Fibonacci retracement of the previous leg of the upward trend.

“Stronger floor is peg at the 50% Fibonacci retracement, resting at the 1,879.68, To the upside, the local bourse is expected to face significant resistance at the 1,822, followed closely by the 1,832 barrier,” he said.

The FBM KLCI is expected to rebound further next week and stay above the crucial 1,800-point support level, with investor focus on the Eleventh Malaysia Economic Plan (11MP) to be tabled on May 21.

following the oversold performance of the local stocks (over the last three weeks) and successful test of 1,800 support level, FBM KLCI expects to stage further rebound driven by positive GDP data, rising local currencies and commodities price.

on the technical front, the FBM KLCI had been deeply oversold after correcting 3.2% since April 27 high (1,867) over past three weeks and now looks poised for further rebound.

key psychological levels were successfully recaptured, with the FBM KLCI and S&P 500 climbing back above the 1,800 and 2,100 psychological level.

the benchmark index appeared to have a selling climax with bullish reversal morning star candlestick now spotted on daily chart.

expect a higher technical rebound towards next major resistance at 1830 and 1840 levels next week.

Foreign funds net sellers at RM538m on Bursa Malaysia
http://www.thestar.com.my/Business/Busines...ysia/?style=biz