KLSE Stocks News: Bursa Malaysia Open Lower on Monday with the FTSE Composite Index down 1.41 points to 1,809.23

Kuala Lumpur: Bursa Malaysia share prices opened lower on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.41 points to 1,809.23 at 9 am. The Investors on Bursa Malaysia diverted to profit-taking in this Monday morning session. The trading volume was 31.32 million lots worth RM12.08 million and there were 216 gainers versus 465 decliners and 300 counters unchanged.

Global Markets

The Bilateral trade talk programme between China and the US was canceled due to lack of positive leads to sustain the previous week’s rally. 
Key markets Japan, China, and South Korea were closed on Monday due to Autumn festivals and holidays.  Hong Kong’s Hang Seng index, which remained open, shed 1.25%.

Stocks Price Penetration

The Counters on the 30-stock index were mostly lower, led by Tenaga Nasional shedding 12 sen to RM15.56 and among other leading decliners, Sime Darby Plantation dropped nine sen to RM5.27, MAxis fell seven sen to RM5.81 and Digi shed five sen to RM4.79. 
The IOI gaining from 2 sen to RM4.50 in rose stocks. Petronas Gas adding 12 sen to RM19.12 and Telekom Malaysia adding one sen to RM3.22.

Dutch Lady Milk Industry BHD added RM1.30 to RM65.40, VItrox rose eight sen to RM7.78 and BAT gained eight sen to RM33.24 at the border market and United Plantation rose 38 sen to RM27.50 on the deal of its accession of plantation land from Pinehill Pacific, which jumped 12 sen to 56 sen.

Currency Stats

The ringgit was little changed against the US dollar at 4.1337. It rose 0.9% against the pound sterling at 5.4067 and 0.1% against the Singapore dollar at 3.0256.

Commodity Stats

The oil market jumped as Opec and Russia decided against lower oil prices ahead of US sanctions on Iran. WTI crude rose 81 cents to US$71.59 a barrel while Brent crude gained US$1.01 to US$79.81 a barrel.

 

Malaysia Stocks Exchange has Climbed Higher in Four Straight Sessions

The Malaysia securities exchange has moved higher in four straight sessions, assembling in excess of 10 focuses or 0.6 percent en route. The Kuala Lumpur Composite Index presently rests simply over the 1,765-point level despite the fact that it might come up short on steam on Friday.

The worldwide gauge for the Asian markets is blended to lower, with innovation stocks anticipated that would weigh. The European markets were up and the U.S. bourses were blended, and the Asian markets are relied upon to take after the last lead.

The KLCI completed marginally higher on Thursday following blended exhibitions from the money related offers and the ranch stocks.

For the day, the file included 2.45 focuses or 0.14 percent to complete at 1,766.23 in the wake of exchanging in the vicinity of 1,762.15 and 1,769.22. Volume was 3 billion offers worth 2.7 billion ringgit. There were 618 decliners and 335 gainers.

Among the actives, Axiata dove 3.83 percent, while Tenaga Nasional took off 1.48 percent, Maybank spiked 0.92 percent, Sime Darby bounced 0.81 percent, Genting tumbled 0.81 percent, Kuala Lumpur Kepong climbed 0.57 percent, Telekom Malaysia slid 0.52 percent, IOI Corporation and Digi.com both dropped 0.22 percent, CIMB Group shed 0.17 percent and Petronas Chemicals and Hong Leong Bank both included 0.11 percent.

The lead from Wall Street is uncertain as stocks turned in a blended execution on Thursday following the solid upward move multi-day sooner.

The Dow climbed 112.97 focuses or 0.44 percent to 25,527.07, while the NASDAQ drooped 80.05 focuses or 1.01 percent to 7,852.18 and the S&P 500 dropped 8.63 focuses or 0.30 percent to 2,837.44.

A striking decrease by Facebook (FB) weighed on the NASDAQ after the online networking goliath announced superior to expected second-quarter income yet weaker than anticipated incomes.

Different stocks profited from news President Donald Trump and European Commission president Jean-Claude Juncker consented to work towards killing exchange boundaries on modern merchandise.

In the monetary news, first-time claims for jobless advantages in the U.S. demonstrated an unassuming increment in the week finished July 21st, as per a report discharged by the Labor Department.

Unrefined petroleum costs moved higher on Thursday, expanding picks up for a third progressive session, on a greater than anticipated drop in U.S. unrefined inventories. Raw petroleum prospects for September wound up $0.31 or 0.4 percent at $69.61 a barrel on the New York Mercantile Exchange.

GBP/USD Weekly Forecast 09-July to 13-July

GBP/USD relish some easygoing PMI figures to retrieve but things became more complex afterward. The White Paper on Brexit, manufacturing production, and other statistics await the pound. Here are the important events and an updated technical analysis for GBP/USD.

Challenging reports about the government’s stance on Brexit makes the pound underside and forth as well as the PMI data. In the US, data was positive and fears regarding trade were attenuate for a while.

1.White Paper on Brexit:
The British government is having hard thought over Brexit and is set to create its White Paper on future relations on Monday. This comes after a gathering at Chequers on Friday. The EU is very disillusioned with the UK’s conduct on Brexit and the clock is ticking. The affirmation by Chief EU arbitrator, Michel Barnier is no less vital than the substance of the report. A speedy; achievement is very far-fetched.

2.BRC Retail Sales Monitor:
The British Retail Consortium’s measure of offers at its individuals’ stores expanded by 2.6% y/y in May. The figure for June will probably be perky too.

3.Manufacturing Production:
Yield in the assembling part dropped pointedly by 1.4% in April. The long stretch of May was presumably better and an expansion is likely. The more extensive modern generation measures fell by a more direct 0.8%.

4.Goods Trade Balance:
England’s exchange adjusts deficiency enlarged to no under 14 billion in April, a stressing level. We could see it limit in May.

5.Construction Output:
The construction sector enjoyed an expansion in activity in the spring with an inflation of 0.5% in output. We could see another favorable, yet more average increase in May.

6.RICS House Price Balance:
The Royal Institution of Chartered Surveyors reported an appropriate balance in prices in May: only -3%. This is still in negative territory, but better than in previous months.

7. BOE Credit Conditions Survey:
The survey is conducted by the Bank of England discussed increasing credit in previous quarters. We will now get the report for Q2 2018.

GBP/USD Technical analysis

Pound/dollar commenced the week in a perky state of mind, testing the 1.3200 level said a week ago.

GBP-USD Forecast 09-July to 13-July

Technical Lines from Top to Bottom:

1.3615 topped the match in late 2017. 1.3470 was a swing high toward the beginning of June. The round number of 1.34 could give additionally bolster. Additionally down, 1.3315 was a swing high in late June.

1.3250 was a swing low toward the beginning of June. Indeed, even lower, 1.3205 was the low point in late May. 1.3100 was a swing low in mid-June and 1.3050 is the most recent 2018 low. The round number of 1.3000 anticipates beneath

I remain bearish on GBP/USD. It is difficult to trust that the EU will acknowledge anything that the UK proposes. Regardless of whether they respect the recommendations, time is running out for Brexit and the UK economy is lingering behind the American one. Source

Malaysian stocks are Available at Cheapest Rates

KUALA LUMPUR: Various stocks looking appealing on valuations are ascending as the FTSE Bursa Malaysia KLCI Index’s cost to-profit proportion has fallen underneath the verifiable normal of 16 times in the midst of kept offering by outside financial specialists, Credit Suisse examiner Danny Goh writes in the note.

The FBM KLCI’s cost-to-income (P/E) at 15.6 times on Credi Suisse gauges; plunged beneath verifiable normal just once in most recent five years when the government ended seaward exchanging of ringgit in 2016.

Stocks exchanging at or beneath worldwide money related emergency cost to-book levels incorporate Uzma, Mah Sing, SP Setia, Gamuda, CIMB, AirAsia Group, BAT, Genting, Genting Malaysia, Public Bank.

Offers offering over 5% profit yield incorporates Astro, Malakoff, Maybank, SP Setia, Telekom Malaysia, CIMB, BAT, Mah Sing.

Lucidity on plans to enhance financial position, monetary development, ties with China and Singapore, initiative at government-connected organizations and conclusion of uber ventures can lift slant. Source

Asian Stock Market Driving AUD and NZD Movement in Forex Trading

Aussie, NZ Dollars drop as Asia stocks take after Wall Street lower. Yen sheds against hazard offer as Fed rate climb wagers weigh on subsidizing FX.  Approaching ECB strategy choice may crease hazard off the finish

The slant connected Australian and New Zealand Dollars failed to meet expectations as Asian bourses grabbed on a negative lead from Wall Street. Territorial offers shed 0.5 percent of all things considered. The regularly hostile to chance Yen endeavored an attack to the upside however neglected to manage force, exchanging comprehensively level against its real money partners.

The Japanese unit’s failure to underwrite may mirror the part stresses over a quickened Fed rate climb cycle in souring the business sectors’ state of mind. The Asia-session droop in hazardous resources was unsurprisingly coordinated by a steepening of the spread in the vicinity of 10-and 2-year US security yields. That may predict an extensively higher-rate condition ahead, boosting convey exchange request and weighing on standby subsidizing monetary standards.

Looking forward, a barebones offering of booked European and US occasion chance leaves markets rudderless, leaving notion patterns to build up the directional course by and by. S&P 500 prospects are pointing lower in front of the opening chime in New York, implying the hazard of inclination has the degree to convey forward. Conviction appears to be lukewarm be that as it may and take after might demonstrate restricted as the ECB rate choice weaving machines the skyline. Source

Weekly Technical Analysis of NZD/USD

NZD/USD Trading Alerts and Signals

New Zealand Dollar slows down at well-known protection, finishing 5-day win streak

Pullback obviously leaves close term uptrend, previous protection in place

Promote affirmation expected to make a significant exchange opportunity

The New Zealand Dollar slowed down at well-known protection beneath the 0.75 figure against its US partner, finishing an unstable five-day rally. Costs are yet to break the close term arrangement of higher highs and lows be that as it may. The pullback likewise prominently held back before breaking previous protection, implying it might be remedial.

Daily Forex Signals Updates:

From here, every day close underneath falling pattern line protection turned-bolster, now at 0.7375, may open the entryway for a bigger downturn and at last uncover the 38.2% Fibonacci retracement at 0.7186 for another test. On the other hand, a day by day close over 0.7434 (September 20 high) focuses on the half Fib extension at 0.7505.

Taking the short side appears to be an untimely truant affirmation of inversion, especially considering the central headwinds as yet confronting the US Dollar. In the meantime, nearness to protection contends against entering long on hazard/remunerate grounds. In view of that, standing aside seems most sensible for the time being. Source

US CPI Report playing major role in Gold and Crude Oil Movement

Gold Trading Alerts and Signals:

Gold costs may fall as solid US expansion information supports the US Dollar

Raw petroleum costs defenseless on EIA stock information, hazard avoidance risk

Gold costs ascended as the US Dollar kept on redressing lower having hit a one-month high on Friday. The greenback’s shortcoming may reflect defensive pre-situating in front of the up and coming arrival of US CPI information. That is relied upon to indicate value development moderated in January.

The likelihood of an upside astonishes resounding a surge in wage expansion over a similar period appears to be critical be that as it may. Such a result may revive fears of a forceful Fed rate climb cycle, pushing the US money higher once again and pushing the yellow metal descending.

GOLD TECHNICAL ANALYSIS

Gold costs keep on probing higher, testing the convergence of a Head and Shoulders design neck area and falling pattern protection (now at 1331.06). Breaking over that on a day by day shutting premise uncovered the 38.2% Fibonacci development at 1356.23. On the other hand, a move back underneath the 1312.36-16.50 territory (bolster rack, 38.2% Fib retracement) opens the entryway for a trial of the half limit at 1301.19.

Unrefined petroleum costs edged marginally lower. The IEA cautioned that developing US yield can crash OPEC-drove endeavors to go down a worldwide supply overabundance. Afterward, API revealed that inventories included 3.95 million barrels a week ago, topping the normal 2.75 million barrel construct anticipated from EIA figures due today.

In the event that the official informational collection prints nearer to the API projection, additionally offering might be in store. The down move may be opened up if a sudden US swelling pickup weighs on general hazard hunger, pushing the feeling touchy WTI benchmark bring down close by stock costs.

Crude Oil TECHNICAL ANALYSIS

Raw petroleum costs are setting aside a few minutes in the recognizable region, apparently processing misfortunes subsequent to touching a six-week low. A day by day close underneath the 38.2% Fibonacci retracement at 57.25 focuses on the half level at 54.36. Then again, a bounce back over the 23.6% Fib at 60.84 prepares for another test of the 14.6% retracement 63.05. source

EUR/USD Facing First Selling of 2018

Forex Trading Alerts:

The US, UK Inflation to Set the Tone for FX Markets Next Week.

EUR/USD Technical Analysis: Euro Top Maybe in Place versus the US Dollar.

The Euro has been a cargo prepare for a great part of the time since a year ago’s open, continually chugging-higher even in light of bearish drivers. Since setting a 14-year low on simply the second exchanging day of a year ago, bulls assumed control and have to a great extent been in-charge from that point onward. This happened while the European Central Bank was apparently talking the money bring down all through 2017, consistently saying that they weren’t exactly prepared to start plotting for the finish of QE. By and by, business sectors kept on expecting some unavoidable get off of uber-free financial strategy, and in January we, at last, heard some acknowledgment from the ECB on the issue.

EUR/USD Trading Alerts:
However, in a peculiar bit of occasions, that notice, which ought to be a Euro-positive given the potential for more grounded rates in the economy, may really be carrying some shortcoming into the single money. We still can’t seem to test the highs that came in on the morning of ECB, and from that point forward we’ve seen a work of lower-highs combined with new lower-lows; giving the value activity appearance of a more profound short-side move. The relationship here would be one of the worldwide ramifications, where the European Central Bank beginning to pull back on jolt makes a touch of dread in hazard showcases around the globe as we have another real Central Bank moving towards more tightly approach. This has brought higher yields in US Treasuries, and those higher yields are making fears around lifted valuations in the value space. The ECB would join the Fed in their way of fixing strategy, leaving just the Bank of Japan among the real Central Banks currently pushing QE into worldwide markets without some kind of decrease or slow down arranged. Source

Crude Oil may fall due to USA Government Shutdown Rumours

Crude Oil Trading Alerts:

Crude Oil costs decrease close to values as market estimation sours

Gold costs edge up as Treasury security yields decrease in hazard off-exchange

Raw petroleum costs fell as hazard craving decayed once more on Wall Street. The WTI benchmark took after the S&P 500 lower in a move that the newswires connected to proceeded with stresses over forceful money related fixing. The sharp bounce in wage expansion announced in January’s US work insights has stirred feelings of dread of a more extreme rate climb cycle than already anticipated. Gold costs bounced back from intraday lows as the hazard of temperament converted into a drop in security yields, boosting the interest of non-enthusiasm bearing choices.

Looking forward, a dull offering on the financial logbook appear to be probably not going to establish a connection with speculators. Bread cook Hughes fix to consider information, as well as ICE and CFTC theoretical situating measurements, are on tap, yet these are infrequently showcased moving. The possibility of another US government shutdown may overwhelm the spotlight. A preservationist unforeseen inside the Republican party is deferring section of a bipartisan spending bargain, saying it adds excessively to the deficiency. The nonappearance of a fast accord may compound hazard avoidance.

Crude Oil Technical Analysis

Raw petroleum costs keep on pushing lower, with a break underneath the 23.6% Fibonacci retracement at 60.84 preparing for a test of the 38.2% level at 57.25. On the other hand, an inversion back over 60.84 – now recast as protection – uncovered the 14.6% Fibat 63.05 another. Source

Asian Stocks Put In Mixed Showing As Data Do Too, USD Firmer

Forex Trading Alerts:

Most Asia Pacifica bourses oversaw picks up

However nearby factors held Chinese files under more weight

The US Dollar remained extensively firm after the Federal Reserve’s money related choice

Asian records were generally higher Thursday, following the moderate US picks up which came thus after the Federal Reserve allowed money related strategy to sit unbothered, of course.

The Nikkei 225 included 1.6%, with Australia’s ASX 200 up 0.9% and South Korea’s Kospi 0.3% in the green. China stocks were weaker, however with both the Shanghai Composite and the Hang Seng lower. PC-creator Lenovo announced a noteworthy quarterly misfortune which debilitated the general tone. It was brought down further in Hong Kong by some benefit taking in beforehand light property-improvement stocks

The session’s financial information was blended. China’s private makers saw humble picks up in January, Australia’s improved. However Australian building grant endorsements fell through the floor in December, a crumple which hit the Australian Dollar regardless of likely occasional impacts and the general unpredictability of the arrangement. The US Dollar was unobtrusively more grounded after the Fed flagged trust in both swelling and US development ahead.

Gold costs at first slipped, as they have a tendency to do for the most part when the possibility of higher US loan costs are the expansive market center. In any case, they livened up through Asian hours. Unrefined petroleum costs kept on moving forward on news of solid consistency with creation cuts from OPEC.

Still, to come Thursday is the UK’s assembling PMI, with Canada’s expected after that. The US monetary preview from the Institute for Supply Management is additionally coming up. Source