KLCI Technical Reports : 15th Sept 2015

Market Review for KLCI:

The FBM KLCI index gained more than 25 points in late afternoon trade on Monday.Local sentiment improved after Prime Minister has announced a government equity investment firmwould be given 20 billion ringgit ($4.6 billion) to shore up the country's stock market, and announced other measures to support its slowing economy.

The Finance Index increased 1.59% to 14239.33 points, the Properties Index up 0.32% to 1140.27 points and the Plantation Index rose 2.50% to 7062.07 points. The market traded within a range of 44.79 points. high of 1645.49 and a low of 1600.70 during the session.

The KLCI closed higher at 1639.63 points amid gains in US Market on last Friday before a Federal Reserve interest rate decision this week. Local sentiment improved after Prime Minister has announced several new measures to strengthen the economy.There were 303 gainers and 381 losers

Market forecast for KLCI:

The FBM KLCI index is expected to trade with bullish sentiments in coming session supported by the positive measures taken by the local government to boost Malaysia’s economy.Technically the KLCI index had crossed the level of 1614 and it may reach the level of 1660 in near term. 

WORLD INDICES
DOW JONES	16433.09
SHANGHAI	3263.428
NIKKEI	17965.70

KLCI COUNTER SPECIFIC NEWS :

• Malaysian stocks headed for a four-week high, led by a rally in state-controlled companies, after Prime Minister Najib Razak said the government will tap a fund to support the nation's equities.
• Berjaya Food Bhd’s net profit rose 1.73% to RM6.11 million for the first quarter ended July 31, 2015 against RM6.0 million in the previous corresponding period.
• Genting Malaysia Bhd, which is on track to meeting the demands that the Genting Integrated Tourism Plan (GITP) will make on it next year, sees value in reclaiming the Guinness Book of Records title for operating the world’s largest hotel.
• Bank Negara Malaysia (BNM) has maintained the overnight policy rate at 3.25% as it remains accommodative and supportive of economic activity.
• Petronas Dagangan, Petronas Gas and MISC led the FBM KLCI higher in early Monday trade amid a mixed market while investors awaited measures from the government to strengthen the economy.