Klse Stock News- Bursa Malaysia Stocks Open Lower on Friday, Axiata & Public Bank Weigh Market in Early Trade

Kuala Lumpur: Bursa Malaysia stock prices opened lower on Friday with the FTSE Bursa Composite Index down 3.78 points to 1,794.86 at 9.05am. The trading volume was 99.04 million lots worth RM33.21 million. There were 107 gainers versus 71 decliners and 161 counters unchanged.

Bursa Malaysia slipped in early trade despite a positive Wall Street performance overnight as equities were floated on strong economic data.

 

Stock Watch

The top KLSE active stock including Orion rising 0.5 sen to nine sen, AWC adding 1.5 sen to 92 sen and Hiap Teck, losing 0.5 sen to 40.5 sen.

The top KLSE gainer stocks are some heavyweights that paced higher were PPB adding 10 sen to RM16.88 and Maybank rising 10 sen to RM9.64.

The top KLSE loser stocks are, Axiata that slid five sen to RM4.68 as it grew less likely to accept an offer for its stake in M1. Public Bank lost 10 sen to RM24.90 while Sime Darby shed four sen to RM2.60.

 

Global Market

At Asia’s open, Japan’s Nikkei rose a strong 1.1%, within reach of 2018 high achieved in January. Nasdaq index opens up today with 8,042.0 and previous close at 51.6 and HANG SENG index open with 0.35% to reach 27,813.58.

 

Currency Market

The RINGGIT opens lower against the US dollar early Friday. At 9 am (0100 GMT), the local currency stood at 4.1430/1460 against 4.1380/1420 recorded at 6 pm Thursday.

The RINGGIT traded higher up against other major currencies on from the previous day

-It rose against the Singapore dollar to 3.0283/0316 from 3.0315/0349 on Thursday and strengthened with the Yen to 3.6505/6542 from 3.6697/6743.

-The local currency also upgrades against the Euro to 4.8229/8276 from yesterday’s 4.8427/8495 and appreciated the British pound to 5.4182/4230 from 5.4315/4380.

 

Commodity Market

The oil prices continued to push higher on expectations of hard supply when US sanctions on Iran come into play. US crude was seven sen higher at US$72.19 a barrel while Brent crude was flat to US$81.72 per 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.

 

 

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

Commodities Trading In Malaysia: Bullish Resolutions Eyed Upon!

While there was a lot of hustle-bustle in the stock market, the FX market was haunting quiet. On Wednesday, the S&P 500 closed nearly 85 handles above its low for the day, establishing a daily bullish outside engulfing bar in the process. Meanwhile, the DXY Index barely registered a move at all, posting an inside day relative to Tuesday’s high-low range.

For the US Dollar, there may be a genuine case that the driver of equity market volatility – tension over trade tariffs with China – has proven to be an offsetting factor to the greenback’s current stature as a safe haven currency.

Many factors have proven to be a road to nowhere for the US Dollar: while the imposition of tariffs and a trade war would be bad for the US Dollar, equity market’s constant weakness has raised the need of safety of world’s reserve currency. And vice-versa: when trade tensions ease, which is good for the US Dollar, they are allowing equity markets to rebound, which is negative for the buck.

gold trading chart 05-04-2018

While we wait for FX markets – and similarly, bond markets – to partake in the large swings seen by stocks, a different safe haven has proven quite active amidst the headlines: Gold.

Gold remains unified, symmetrical triangle in January start, then many price movements are observed; mirroring moves as the S&P 500 roared back on Wednesday, Gold slid sharply from its daily highs back to its opening price level – more than a 1% drop intraday.

Fundamentally, trade tensions have fanged higher across the globe thanks to the United States, be it with China, South Korea, Canada, and Mexico re NAFTA, or the European Union. Likewise, concerns about the trajectory of the deficit and the debt may have receded into the background thanks to trade war fears, but they won’t be going away anytime soon given the fiscal stance of the Trump administration.

gold trading alerts 05-april-2018

Technically, Gold’s symmetrical consolidation has occurred after breaking the sustained descending trend line from 2011, 2012, and 2016 swing highs. It’s fairly textbook to see a price consolidation after a bottom has been established, which developed in 2017.

In recent weeks, Gold established a series of higher lows on March 1, 20, and 28. With daily statistics and MACD trending higher above their respective median and signal lines, it appears the symmetrical triangle is favoring an upside break. In the near-term, while the equity market rebound on Wednesday may have delayed Gold’s advance, the backdrop for bullion remains favorably.

Gold and Crude Oil Prices Get Stable Due to McMaster

Commodity Trading News

Crude Oil costs teeter-totter on Trump taxes, McMaster abdication

Gold costs ascend as geopolitical feelings of dread undermine advertise precariousness

US tax exclusions, spending charge improbable to cool hazard avoidance

Crude Oil costs fell after Wednesday’s Fed-connected rally after the Trump organization slapped China with corrective taxes, activating expansive based hazard avoidance (as expected).The S&P 500 stock record – a benchmark for wide based market estimation – endured the biggest drop in about two months.

Gold costs likewise withdrew as the dismal state of mind stirred sanctuary interest for the US Dollar, undermining hostile to fiat choices. The move brought down was moderately agreeable however as the hazard off state of mind drove capital streams toward the security of Treasury securities, weighing on yields and boosting the interest of non-enthusiasm bearing resources.

Items were then shocked higher in early Asia Pacific exchange on news that US National Security Advisor H.R. McMaster has surrendered. Mr. Trump intends to supplant him with the considerably more hawkish John Bolton, a previous minister to the United Nations.

Mr. Bolton has upheld pre-emptive military activity against Iran and North Korea. The danger of finish on the previous most likely stirred apprehensions about unrefined supply disturbance while the extensively more noteworthy shot of a combative US likely cautioned of general market insecurity, discoloring paper resources and lifting gold.

GOLD TECHNICAL ANALYSIS

Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-Bolton-Switch_body_Picture_23-03-2018
Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-Bolton-Switch_body_Picture_23-03-2018

Gold costs are endeavoring to break protection set apart by the 23.6% Fibonacci extension at 1333.51. Affirmation on a day by day shutting premise uncovered the 38.2% level at 1352.40the first significant layer of help comes in at 1307.25, the base of a range winning since early February.

Crude Oil TECHNICAL ANALYSIS

Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-body_Picture_23-03-2018
Gold-and-Crude-Oil-Prices-Buoyed-By-McMaster-body_Picture_23-03-2018

Crude Oil costs are wavering beneath protection in the 66.63-67.49 zone (January 25 high, 38.2% Fibonacci extension). A break to the upside at first uncovered the half level at 70.38. Then again, a turn back underneath the 23.6% Fib at 63.90 makes room for a retest the $60/bbl figure. Source

Huge Up movement is expected at the Crude oil and Gold price

Commodity Trading Alerts and Signals

Raw petroleum discovers true help as the US Dollar dives on CPI information

Gold costs train in on January high after lift from against USD request

Items propelled higher as the US Dollar drooped after January’s US CPI information crossed the wires. Unrefined petroleum costs are designated as far as the greenback on worldwide markets, so the cash’s droop offered accepted help. A pickup in chance hunger presumably assisted a well, with the WTI benchmark ascending close by stocks. Gold rose as the move stirred interest in hostile to fiat choices.

Looking forward, US PPI information adds up to the main piece of vital planned occasion hazard on the docket. The center discount expansion rate is relied upon to tick down from 2.3 to 2.1 percent. Anything shy of an emotional upside astounds reverberating a month ago’ surge in wage development appears to probably bolster continuation of the present account, however force may moderate after yesterday’s hazardous moves.

GOLD TECHNICAL ANALYSIS

Gold costs surged higher to challenge the 38.2% Fibonacci extension at 1356.23. Every day close over this boundary makes ready for a trial of the 1366.06-71.50 zone (January 25 high, half level). The primary huge drawback obstruction stays in the 1312.36-16.50 zone (38.2% Fib retracement, bolster rack).

Crude Oil TECHNICAL ANALYSIS

Raw petroleum costs are endeavoring to mount a recuperation. Every day close over the 23.6% Fibonacci retracement at 60.84 opens the entryway for a retest of the 14.6% level at 63.05. Then again, a turn bring down that ruptures the 38.2% Fib at 57.25 focuses on the half retracement at 54.36. 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

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