Malaysia KLCI Extends Gains; 1601-1655 Band -Maybank

19 Sep 2012 K

Malaysia's KLCI extends early gains slightly, up 0.4% at 1646.87 at the midday break, tracking the rise in most Asian stock markets; Maybank IB says technical signals are mainly mixed and the benchmark index will likely trade in a 1601-1655 band over the next two weeks.  "Dispose, especially on gap-up rallies," the house says, noting a sharp rebound last week that will give investors a chance to take profit on any rallies as the index fills the gap between 1628.57 and 1633.49 formed last Thursday and Friday.   Market breadth is slightly negative at 276 losers and 268 gainers with 481.7 million shares changing hands. Perisai Petroleum (0047.KU) is up 3.4% at MYR0.915 on news of charter agreements worth $40 million.  Bucking the trend, plantation stocks are down due to supply glut concerns; Felda Global (5222.KU) is down 0.2% at MYR4.87, IOI Corp. (1961.KU) down 0.6% at MYR5.09 and Kuala Lumpur Kepong (2445.KU) is down 0.3% at MYR22.18.

Malaysia KLCI +0.4%; Close Above 1620 Eyed - OSK

07 Sep 2012

0554 GMT [Dow Jones]  Malaysia's KLCI is up 0.4% at 1624.62 at the midday break, tracking gains in Asian stock markets on the back of positive cues from the ECB's bond purchase program.  OSK Research says the retracement over the last two sessions is "insignificant" but it is vital for the KLCI to hold above 1620; "we are eyeing a close above 1620, the success of which will result in a new floor there," says OSK technical analyst Shin Kao Jack.  Otherwise, the index may retrace towards the next strong support level of 1591 or even 1582, he cautions.  Market breadth is positive at 396 gainers and 210 losers with 576.7 million shares changing hands. Among gainers, Axiata Group (6888.KU) is up 2.0% at MYR6.14, Malayan Banking (1155.KU) is up 0.3% at MYR9.03 and Genting (3182.KU) is up 2.2% at MYR8.89.

Malaysia KLCI +0.1%; Sell On Rallies - Maybank

07 Sep 2012

Malaysia KLCI is up 0.1% at 1619.15, tracking gains in Asian stock markets on the back of the ECB's bond purchase program. Still, trading remains choppy and the benchmark index is struggling to hold on to gains as investors are taking profit on rallies.  "The local index will now be in a major downtrend correction phase" as prices fell below key moving averages Thursday, says Maybank IB.  "Due to the Dow?s large rise, there could be a gap-up move for the KLCI" but there could still be volatility and sustainability issues locally, it says, adding that investors should sell on rallies; support is tipped at 1613 followed by 1591.  Market breadth is positive at 314 gainers vs 155 losers with 355.8 million shares changing hands.  KNM Group (7164.KU) is up 4.6% MYR0.69 following a plan to list its German unit on the Singapore Exchange while WCT (9679.KU) is up 3.9% at MYR2.64 after the company announced issuance of bonus shares.

Malaysia KLCI Steady; Adopt Cautious Stance -Maybank

28 Aug 2012

Malaysia's KLCI remains steady at 1647.43 in choppy two-point trade and amid losses in most Asian stock markets.  Maybank IB says technical signals are mainly positive but investors should adopt a "very cautious investment stance" in the near term; "there are obvious bearish divergent chart signals depicting technical tiredness at lofty levels," it says.  The house tips support and resistance at 1646 and 1655 respectively. Market breadth is negative at 377 losers and 223 gainers with 646.9 million shares changing hands.  Among losers, Malayan Banking (1155.KU) is down 0.5% at MYR9.13 and Sime Darby (4197.KU) is down 0.1% at MYR9.79. Among gainers, YTL Corp (4677.KU) is up 0.5% at MYR1.85 and Axiata Group (6888.KU) is up 0.3% at MYR6.00.