Malaysia Stock Updates : KLCI Technical Outlook 21 July

Posted: July 21, 2014 in Stock Tips, Uncategorized

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
Open 1874.34
High 1876.83
Low 1867.34
Close 1868.64
Change(Points) -4.330
% Change -0.23%
Volume 2404.4M
Rise 400
Fall 451
Unch 796

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
1872 1862 1845 1895 1910 1916

Technical indicators:
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
ASTRO 3.37 4.01 PETDAG 19.98 -3.57
GENM 4.26 1.43 MISC 6.38 -3.48
UMW 11.66 0.52 HLFG 17.04 -3.18
PBBANK 20.12 0.5 IHH 4.67 -2.1
KLCC 6.4 0.47 PETGAS 23.4 -1.6

Economic Factors:

  • 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.

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