Showing posts with label KLSE daily signals. Show all posts
Showing posts with label KLSE daily signals. Show all posts

Tuesday 11 September 2018

KLSE Daily Report | KLSE Daily Signals

Bursa Malaysia's trading next week is forecast to slow down in the face of uncertainty in the emerging markets, escalating trade tensions and the extended weekend in the country, said dealers.Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said with investors remaining mindful of the external events, the FBMKLCI would linger around its resistance and support level of 1,805 and 1,776 respectively next week. “In addition, the US non-farm payroll data is expected to show that the labour market in the US remains solid, which necessitates a rate rise in the US, while the Federal Open Market Committee will meet on Sept 26.
“The Fed is expected to deliver a 25 basis points hike in the Fed Fund Rate which currently stands at two per cent. This will add further pressure to emerging countries' assets and currencies,” he told Bernama. In the first three days, the local market was on a downtrend and attempted to break the negative trend but failed to do so, although however it broke the trend on Thursday.
 KLSE Daily Report

M and A Securities Sdn Bhd Chief Dealing Officer R Sundararajah said the market is still on the sidelines for the week just ended, taking into account the long weekend next week. “We can see a lot of investors are not taking a position, coupled with the composite index's performance, which started last Monday's trading at 1,819 and has dropped about 20 points since then.“We also saw the net sell by foreigners which stood at RM602 million,” he said, adding that he anticipated the index to remain below the 1,800 level.



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