Market Review for KLCI:
Malaysian stocks opened on a mixed note with KLCI at 1874.34. Share prices on Bursa Malaysia remained lower at mid-morning today, weighed on by weak buying sentiment. Local market sentiment remained cautious as fears about Portugal’s banking sector receded and investor attention turned to United States corporate earnings and monetary policy and China’s Q2 economic data. Trading sentiment was adversely impacted last Friday due to rising geopolitical tensions sparked by the downing of (Malaysia Airlines) MAS passenger airline MH17 and Israel’s ground offensive in Gaza. THE local bourse is expected to be jittery this week on the back of on-going world conflicts and the shock from the downing of Malaysian Airlines’ (MAS) Flight MH17 in eastern Ukraine.
|KLCI Day Performance|
Market forecast for KLCI:
Market is under selling pressure it might open tomorrow near 1868 level. As per the technical, prices are anticipated to continue the same.
|Support 1||Support 2||Support 3||Resistance 1||Resistance 2||Resistance 3|
RSI stood below the centre line at 38.715 with its CCI at -216.91. Difference line of MACD performed at 0.222 below its signal line which performed at 2.773.
|Top Gainers||Top Losers|
|Scrip Name||CMP||% change||Scrip Name||CMP||% change|
- The ringgit opened broadly higher against the US dollar and other major currencies today on renewed demand for the domestic currency.
- The Malaysian rubber market closed marginally lower today, weighed on by the stronger ringgit.
- Volatility spiked on Thursday after the tragedy of a downed Malaysian Airlines jet in Ukraine and the mounting death toll in Gaza and Israel interrupted the summer trading slumber. Still, the bears may have to wait a while to call the start of a correction. Uncertainly took over Wall Street Thursday as investors fled stocks, giving the S&P 500 its first decline of more than 1% in three months. The Volatility Index (VIX) posted its biggest one-day percentage increase since April last year, surging 32%. Volume jumped 20 % compared to the average so far this month.