KLSE Stock News: Bursa holds stable on Wednesday as the previous session’s close at 1,798.20

Kuala Lumpur: Bursa Malaysia stock prices opened steady on Wednesday as the previous session’s close at 1,798.20 with FBM KLCI. There were 169.73 million shares traded valued at RM66.81 mil. There were 160 gainers versus 78 decliners and 203 counters unchanged.

Stock Watch

1. The most active KLSE stock list included Fitters rising 1.5 sen to 42 sen, Key Asic losing   1.5 sen to 19 sen and Hibiscus rising two sen to RM1.30. 
2. The top KLSE gainer stocks list, KESM rose 18 sen to RM15.20, Hengyuan gained 16 sen to RM6.96 and Petrason Gas added 10 sen to RM19.08. 
3. The Klse loser stock including Nestle, shaving 60 sen to RM 145.90, KLK dropping 24 sen to RM24.76 and Press Metal dipping five sen to RM4.80. Maybank lost three sen to RM9.71 and IOI slid three sen to RM4.53.

Global Market

Asia opened weaker with Japan’s Nikkei slipping 0.4% and South Korea’s Kospi falling 1.25%. Nasdaq index opens up today with 7,999.55 and previous close at -37.7 down and HANG SENG index open with 26,840.20 and previous close at 27,006.23

Currency Market

Forex Signals: After two days of downtrend backed by higher oil prices, the RINGGIT opened slightly higher against the US dollar on Wednesday. The local currency stood at 4.1380/1410 against 4.1400/1430 recorded at Tuesday’s closing. 
Ringgit mixed trade data with other currency- 
1. It slightly down against the Singapore dollar to 3.0108/0140 from 3.0100/0129 on Tuesday and declined versus the euro to 4.7765/7816 from 4.7668/7715. 
2. The local currency depreciated the Japanese yen to 3.6423/6459 from yesterday’s 3.6399/6438 and declined against the British pound to 5.3695/3738 from 5.3634/3677.

Commodity Market

Comex Crude Oil: The oil prices fall on Wednesday, oil prices remain near four-year highs reached earlier this week ahead of US sanctions against Iran’s oil exports that kick in next month.  Brent crude oil futures were trading at US $84.73 per barrel, down seven cents from their last close. US West Texas Intermediate (WTI) crude futures were down 10 cents at US$75.13 a barrel.

 

KLSE Stock News- Bursa Malaysia Stocks Open Lower on Tuesday, Oil Continues to Rise

Kuala Lumpur: Bursa Malaysia stock prices opened lower on Tuesday with the FTSE Bursa Composite Index down 0.53% to 1,791.93. There were 203.24 million shares traded valued at RM 76.82 mil. There were 163 gainers versus 84 decliners and 181 counters unchanged. 
Bursa Malaysia’s optimism vanished within minutes of the opening, as it erased gains to return to the starting line.

Stock Watch

1. The top KLSE active stock list including Sapura Energy was up one sen to 43.5 sen while Reach Energy gained 1.5 sen to 51 sen and Nova MSC gained 0.5 sen to 18 sen.

2. The top KLSE gainer stocks list, Air Asia was among the early gainers, adding four sen to RM3.10. Heavyweight Genting rose four sen to RM7.81 while Hengyuan climbed 12 sen to RM6.62.

3. The Klse loser stock including Hartalega slid four sen to RM6.56 in early trade. Maybank Investment Bank report said the glovemaker’s upcoming 2QFY19 core earnings is expected to be flattish. Meanwhile, CIMB slid three sen to RM5.98, Tenaga dipped two sen to RM15.50, Axiata shed two sen to RM4.63 and Public Bank lost two sen to RM 23.98.

Global Market

Nasdaq index opens up today with 8,037.3 and previous close at -9.0 and HANG SENG index open with 1.87% down to reach 27,268.42.

Chinese markets remained closed for its Golden Week holidays. Japan’s markets reached for a fresh 27-year high on news that trade tension in North America may finally have relieved, lending more positivity in the global trade environment.

Currency Market

The ringgit extended yesterday’s downtrend to open easier against the US dollar this morning as risk appetite for the greenback strengthened among rising oil prices. On Monday closing the local currency stood at 4.1400/1440 against 4.1380/1420. 
Ringgit mixed trade data with other currency-

1. It rose against the Singapore dollar to 3.0164/0195 from 3.0198/0238 on Monday and improved versus the euro to 4.7921/7979 from 4.8059/8118.

2. The local currency depreciated the Japanese yen to 3.6332/6370 from yesterday’s 3.6295/6340 and weakened against the British pound to 5.3990/4046 from 5.3976/3049.

Commodity Market

Comex Crude Oil prices fringed up on Tuesday, Brent crude oil futures were trading at US$85.05 per barrel, up seven cents from their last close, near the US$85.45 peak reached in the previous session, its highest since November 2014. US West Texas Intermediate crude futures were up 25 cents at US$75.55 a barrel.

KLSE Stock News- Malaysia stocks open lower on Wednesday, Bursa Shares Continues Slide ahead of US Federal Decision

Kuala Lumpur: Bursa Malaysia continued its slide by opened its share prices lower on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 6.49 points to 1,787.98 at 9.01am. The trading volume was 115.48 million shares valued at RM53.74mil. There were 117 gainers versus 78 decliners and 179 counters unchanged. 

The consistency in share slide as global markets traded mixed ahead of decisions made at a two-day US Federal Reserve meeting set to end on Wednesday. Traders are broadly expecting the Fed to raise interest rates for the third time this year at the climax of the meeting in another round of tightening.

Stock Price Penetration

Pestech International Bhd, move higher  8 sen to RM1.53 as the group finally secured the Gemas-JB double track electrification project worth RM399mil. Other gainers included Scientex Berhad, which rose 14 sen to RM8.75 and UMW, pushing six sen higher to RM5.12.

On the losing end, Lotte Chemicals Titan shed 6 sen to RM5.01. Plantations were also seen to weigh with Sime Darby Plantation losing 5 sen to RM5.25 and IJM Plantation slide 3 sen to RM2.43.

Global Currency Market

The ringgit was almost unchanged against the US dollar in early trade Wednesday. At 9 am, the local currency stood at 4.1350/1400 against 4.1350/1390 recorded on the previous day. 

The ringgit traded mixed versus other major currencies
1. It rose against the Yen to 3.6609/6657 from 3.6638/6677 on Tuesday and strengthened against the Euro to 4.8628/8691 from 4.8644/8699. 
2. It depreciated against the Singapore Dollar to 3.0280/0321 from yesterday’s 3.0273/0309 and weakened against the British Pound to 5.4479/4561 from 5.4400/4465.

Commodity Market

The Brent oil fringe further away from a four-year high on Wednesday down 43 cents at US$81.44 a barrel. Earlier on Tuesday, Brent hit its highest since November 2014 at US$82.55 a barrel.

The US crude futures were down 40 cents at US$71.88 a barrel. The US said it would ensure crude markets are well supplied before the penalties are re-imposed on Iran.

 

 

KLSE Stock News- Bursa Malaysia Open Lower On Tuesday; Axiata leads decline on Bursa Malaysia

Kuala Lumpur: MALAYSIA share prices opened lower on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.57 points to 1,797.60
The trading volume was 96.63 million lots worth RM38.75 million and there were 311 advancers versus 337 decliners and 371 counters unchanged.

Loser Stocks

The biggest fall was seen in Axiata in the morning session, losing 16 sen to RM4.61 and Genting Malaysia shed four sen o RM5.02 while TNB dropped four sen to RM15.48. There was no change was seen in Banks although CIMB slid two sen to RM6.01. The stock had fallen as much as four sen earlier in the trading session.

Gainer Stocks

Petronas Dangangan is the top performer on the index by rising 20 sen to RM26.56 and Petron Malaysia BHD also performs well by adding 18 sen to RM8.38. 
Pinehill Pacific, the share price had jumped nearly four-fold over the previous two sessions on news of the sale of its Perak assets for RM414mil finally gave up some gains. At midday, it had slipped 8.5 sen to 45.5 sen.

Global Market

Tuesday’s morning session given the negative sentiment surrounding the escalation of the US-China tariffs war and prospects for global growth. 
The regional markets were mixed, with declines led by Chinese markets on their first day of trading after a holiday-extended weekend. Despite the bearish mood, the local market held relatively steady as stocks on the exchange were quite evenly split between gainers and losers.

Commodity Market

Oil prices were within reach of four-year highs hit in the previous session, as US appear sanctions against Iran and unwillingness by the Organization of the Petroleum Exporting Countries (OPEC) to raise output supported the market. 
WTI crude grew 15 cents to US$72.23 a barrel while Brent crude added 23 cents to US$81.43 a barrel.

Currency Market

The ringgit slipped 0.15% against the greenback at 4.1350. It was marginally higher against the pound sterling at 5.4138 and Singapore at 3.0265.

 

US Dollar Gain a Positive Movement After Jobs Data

US Dollar may backtrack some current increases after April employment information. Australian Dollar higher after RBA updates swelling viewpoint. Yen up while Asia Pacific stocks fall as Mnuchin visits China (US Dollar Trading Alerts)

A dull offering of European financial information is probably going to see cash markets concentrated on April’s US work showcase information through the finish of the week. The economy is relied upon to have included 192k employments a month ago, denoting a vivacious bounce back from the small 103k increment recorded in March. The joblessness rate is seen tumbling to 4 percent, the west since December 2000.

On adjust, dealers will probably be more intrigued by the pace of wage expansion – where the one-year rate is relied upon to stay at 2.7 percent – than feature work creation measurements. The Fed has everything except pronounced triumph on achieving its objective of “greatest work” some time back, putting the second target of doing as such in a setting of “value strength” up front as the driver of approach choices.

EUROPEAN TRADING SESSION 04-05-2018
EUROPEAN TRADING SESSION 04-05-2018

From a handy point of view, the easy way out most likely leads bring down for the US Dollar in the information discharge’s outcome. It is floating close to a four-month high after a precarious upshift in the Fed rate climb standpoint. Wages would likely need to post an unrealistically expansive upside amazement to rouse solid finish in the close term. Or maybe, benefit taking may push the greenback to bring down after occasion hazard has passed.

ASIA PACIFIC TRADING SESSION 04-05-2018
ASIA PACIFIC TRADING SESSION 04-05-2018

The Australian Dollar outflanked in Asia Pacific exchange, ascending after the RBA redesigned its swelling viewpoint and said higher rates are probably going to be suitable “sooner or later”. The Japanese Yen also exchanged higher as local offers declined, offering a lift to the standby against chance cash. Uneasiness about US exchange arrangements with China may have been an impetus as Treasury Secretary Mnuchin visits Beijing. Source

Robert Mueller, in a gathering with U.S. President Donald Trump’s legal Advisers in March

Special Counsel Robert Mueller, in a gathering with U.S. President Donald Trump’s legal advisors in March, raised the likelihood of issuing a subpoena for Trump in the event that he decreases to converse with specialists in the Russia test, a previous legal counselor for the president said on Tuesday.

John Dowd disclosed to Reuters that Mueller said the likelihood of a subpoena in the early March meeting. Mueller’s subpoena cautioning was first detailed by the Washington Post, which referred to four individuals comfortable with the experience.

“This isn’t some amusement. You are screwing with crafted by the leader of the United States,” Dowd said he told the agents, who are testing conceivable plot between the Trump crusade and Russia. Dowd left the president’s legitimate group around two weeks after the gathering.

The Post said Mueller had raised the likelihood of a subpoena after Trump’s legal advisors said the president had no commitment to chat with government examiners associated with the test.

After the March meeting, Mueller’s group consented to give the president’s attorneys more particular data about the subjects they wished to ask Trump, the Post detailed.

With that data, Trump’s attorney Jay Sekulow accumulated a rundown of 49 questions the president’s legitimate group trusted he would be asked, as per the Post.

That rundown, first revealed by the New York Times on Monday, incorporates inquiries on Trump’s connections to Russia and others to decide if the president may have unlawfully endeavored to hinder the examination.

“We don’t talk about discussions we have had or may have had with the Office of Special Counsel,” Sekulow told Reuters on Tuesday evening.

Trump scrutinized the break of the inquiries.

“So despicable that the inquiries concerning the Russian Witch Hunt were ‘spilled’ to the media. No inquiries on Collusion,” Trump composed on Twitter on Tuesday. “It would appear to be difficult to impede equity for a wrongdoing that never happened!”

Russia has denied meddling in the 2016 U.S. presidential race, as U.S. knowledge organizations claim, and Trump has denied there was an arrangement between his battle and Moscow.

EUR-USD Extends Bearish Trend as 1Q U.S. Report

Progressed 1Q U.S. Total national output (GDP) to Show Growth Rate Slowing to Annualized 2.0% from 2.9%. Center Personal Consumption Expenditure (PCE) to Climb to 2.6% from 1.9%.

EUR/USD Clears March-Low (1.2155) as Bearish Sequence Unfolds. Relative Strength Index (RSI) Slips Towards Overbought Territory.

Updates to the U.S. Total national output (GDP) report may control the current shortcoming in EUR/USD as the development rate is expected to ease back to an annualized 2.0% from 2.9%.

Remember, advertise members may put more noteworthy accentuation on the center Personal Consumption Expenditure (PCE), the Fed’s favored check for swelling, as the perusing is anticipated to increment 2.6% amid the initial three-months of 2018, which would stamp the speediest pace of development since 2007. Indications of elevating value weights may at last trigger a bullish response in the U.S. dollar as it puts weight on the Federal Open Market Committee (FOMC) to broaden the climbing cycle.

Be that as it may, a progression of underneath figure information prints may sap the interest of the greenback, and EUR/USD may organize a close term bounce back as market members downsize wagers for four Fed rate-climbs in 2018.

EUR/USD DAILY CHART

EURUSD-Extends-Bearish 27-04-2018
EURUSD-Extends-Bearish 27-04-2018

The close term standpoint for EUR/USD stays tilted to the drawback as it expands the arrangement of lower highs and lows from the earlier week, with the match clearing the March-low (1.2155).

Close beneath 1.2130 (half retracement) raises the hazard for a move towards 1.1960 (38.2% retracement) to 1.1970 (23.% extension), with the following locale of enthusiasm coming in around 1.1810 (61.8% retracement) trailed by the Fibonacci cover around 1.1670 (78.6% development) to 1.1680 (half retracement).

Watch out for the RSI as it approaches the oversold region, with the move underneath 30 raising the hazard for a further decrease in the conversion scale as the bearish energy accumulates pace. Source

Gold Trading Alerts: Important Updates for Gold Trader

Must Read: GOLD Trading Factors

Gold costs fall as Fed’s Brainard, Philly Fed information feed rate climb wagers. Unrefined petroleum costs burdened by US Dollar rise, general hazard avoidance. OPEC+ clergymen’s gathering, remarks from Fed’s Evans on tap ahead

The standpoint for US fiscal strategy was the focal protest of theory crosswise over money related markets Thursday. A furiously hawkish discourse from regularly timid Fed Governor Lael Brainard stirred an upshift in evaluated in 2019 rate climb wagers while the yielding bend steepened, with the spread between rates on 10-and 2-year Treasury securities ascending by the most in more than two months.

Brainard talked unfavorably of “building cycle weights” that she expects will be strengthened by financial boost, suggesting a pickup in swelling. She likewise stressed resoundingly over “raised hazard” from extended resource valuations and business use levels, cautioning against “lack of concern” about vulnerabilities. A precarious ascent in acknowledged and expected value weight in the Philadelphia Fed survey of organizations strengthened the point.

GOLD TECHNICAL ANALYSIS

Gold-Price-Forecast 20-04-2018
Gold-Price-Forecast 20-04-2018

Gold costs are as yet stuck underneath protection in the 1353.87-57.50 territory (twofold best, falling pattern line). Every day close above it uncovered July 2016 high at 1375.15. On the other hand, a turn beneath close term rising pattern line bolster at 1340.73 uncovered the range floor at 1307.25.

Crude Oil Technical and Fundamental Overview

Crude Oil costs snap five-day win streak as Syria stresses ease. Programming interface stock stream information beside control value slant advancement. Gold costs may break a gridlock on approaching Fed editorial

Crude Oil costs turned strongly lower, snapping a five-day winning streak. The move appears to have reflected facilitating worries about the acceleration in Syria after US President Trump flagged an end of the week rocket assault intended to rebuff the administration for utilizing synthetic weapons was a unique case. Trump additionally moved in an opposite direction from sanctions went for punishing Russia for its help of Syrian President Bashar al-Assad.

In the meantime, gold costs stamped time as ebbing geopolitical hazard converted into firming hazard craving, boosting Fed rate climb wagers while at the same time undermining support for the US Dollar. The last impact appeared to reflect ebbing sanctuary request and also the re-development of the view that widening worldwide recuperation will see top national banks limit the US national bank’s lead down the way to boost withdrawal. This put gold’s parts as hostile to fiat and benchmark non-enthusiasm bearing resource in strife, converting into a stop.

CRUDE OIL TECHNICAL ANALYSIS

Crude-Oil-Prices-Snap-5-Day-Win-Streak-Eye-Inventory-Data_body_Picture_1 17-04-2018

Crude Oil costs pulled back from protection bunch in the 66.63-67.49 territory (January 25 high, rising channel top, 38.2% Fibonacci development). From here, a move back underneath the 23.6% level at 63.90 opens the entryway for a trial of channel floor bolster at 62.50. On the other hand, turn over 67.49 sees the following upside hindrance at 70.38, the half Fib. Source

OPEC Report Lift Up Gold and Crude Oil Price in Commodity Market

Commodity Trading News Updates:
Raw petroleum and gold costs ascended in the midst of expanded Syria struggle risk on Wednesday

Consideration now swings to the US reaction and the approaching month to month OPEC oil report

Both gold and raw petroleum outlines give cautioning suggestions that costs may soon head lower

Unrefined petroleum costs climbed in excess of two percent on Wednesday, moving to the most astounding point since December 2014. The risk of a contention between the US and Syria helped push costs higher notwithstanding EIA oil inventories expanding by the most since early March. In the meantime, gold costs additionally aroused. Notwithstanding, a portion of the additions in the counter fiat yellow metal were lost when the US Dollar revived towards the finish of the day.

We likewise had the second day of the International Energy Forum in New Delhi. There, OPEC’s Secretary General Mohammad Barkindo talked and said that the gathering is sure that they “will get inventories to the 5-year normal in 2018.” He included that the cartel sees consistency in March higher than in February.

Looking forward, on Thursday OPEC will issue their month to month oil advertise report. Already, the gathering needed to decrease supply by more than foreseen on account of an excess in the non-OPEC generation. Since Barkindo likewise specified that worldwide inventories are around 42 million bbl over the 5-year normal yesterday, maybe extra alterations could be probable. More slices of the supply may support oil costs.

Moreover, watch out for how the US reacts to the Syria circumstance. President Donald Trump addressed Defense Secretary Jim Mattis and they are as yet measuring choices for military activity. Both unrefined petroleum and gold costs could be left helpless against how the circumstance unfurls. In the event, that notion decays again and the US Dollar falls, gold costs may profit.

GOLD TECHNICAL ANALYSIS

gold technical chart analysis 12-04-2018

Gold costs are attempting to gain ground to the upside, however, the ware has neglected to close over the protection line of a slipping channel. Wednesday’s high additionally verged on testing the January high of 1,366.13. Negative RSI difference likewise implies that costs may soon fall. From here, close term bolster is at 1,340.94 which has gone about as protection in the past too. A push underneath that uncovered 1,323.65 which was a territory gold attempted to fall through in late March/early April.

CRUDE OIL TECHNICAL ANALYSIS

Crude-Oil-Prices-chart 12-04-2018

Not at all like gold, raw petroleum costs shut above key protection. That being the January 25th high of 66.60. Be that as it may, similar to gold, negative RSI dissimilarity is likewise present indicating energy to the upside is ebbing. Also, oil has not cleared the 38.2% Fibonacci augmentation at 67.33. From here the following target would be the half midpoint at 70.23. Then again, close term support could be the January 25th high took after by the 23.6% level at 63.74. Source