Market Review for KLCI:
Top Losers
|
||
Scrip Name
|
CMP
|
%change
|
KBES
|
0.28
|
-13.85
|
HOOVER
|
0.41
|
-10.87
|
AJIYA
|
3.74
|
-9.44
|
LIONFIB
|
0.53
|
-9.4
|
MENANG
|
0.86
|
-6.01
|
The FBM KLCI index lost 0.12 points or 0.01% on Friday. The Finance Index fell 0.34% to 14101.64 points, the Properties Index up 0.31% to 1164.95 points and the Plantation Index down 0.11% to 7574.5 points The market fluctuated between a high of 1668 and low of 1657 throughout the trading session on Monday. The KLCI ended the week on a negative note, closed lower at 1657.42 points amid overnight losses in Wall Street. Our benchmark index was dragged down by losses in heavyweight counters such as Genting Malaysia and Maxis.
Market
forecast for KLCI:
The FBMKLCI opened at the level of 1657 on Monday and closed in the green at level of 1668. The trading session on Monday saw a low of 1657;
The market traded within a range of 7.86 points between an intra-day high of 1659.76 and a low of 1651.90 during the session.
Market gained momentum and bounced back on the first day of the week compared to last weeks trading sessions. Market is expected to test the resistance level of 1674 and if the bulls continued to dominate the market it might go further up to the level of 1685. On the other side if it breaches the support level of 1651 it might go down to the level of 1642.
The market traded within a range of 7.86 points between an intra-day high of 1659.76 and a low of 1651.90 during the session.
Market gained momentum and bounced back on the first day of the week compared to last weeks trading sessions. Market is expected to test the resistance level of 1674 and if the bulls continued to dominate the market it might go further up to the level of 1685. On the other side if it breaches the support level of 1651 it might go down to the level of 1642.
KLCI COUNTER SPECIFIC NEWS :
- Bison Consolidated Bhd’s wholly owned subsidiary Otaru Fine Food Sdn Bhd is acquiring a piece of land in Rawang, Selangor, for RM6.75 million to construct its food processing centre.
- RHB Bank Bhd aims to achieve a 30% increase in new customers in the premier segment by year-end, from existing base of under 30,000, driven by RHB Premier.
- Kronologi Asia Bhd (KAB) plans to buy the remaining 80% stake in Quantum Storage (India) Pte Ltd (QSI) from Quantum Storage (India) Ltd (QSIL) for up to RM26 million, to increase its market presence in India.
- Construction of the RM12 billion Jimah East Power (JEP) plant has kicked off with a concrete pouring ceremony in Jimah, Port Dickson, Negri Sembilan.
- Bumi Armada Bhd and India’s Shapoorji Pallonji and Co Pte Ltd are teaming up to bid for contracts in the floating production, storage and offloading (FPSO) vessel business.
- Wah Seong Corp Bhd’s pipe coating unit has been further awarded a RM73.87 million contract from Statoil ASA Norway to provide pipe shipping and related services for the Johan Sverdrup Export Pipeline Project.
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