BURSA MALAYSIA : KLCI Technical Analysis 12 Aug

Market Review for KLCI:
KLCI was opened slightly 2 points down. The local bourse was mainly supported by buying in penny stocks, which resulted in a higher total volume against the total value traded for today. Late buying helped push the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) on Bursa Malaysia to close marginally higher today, marking gains for the second consecutive days. Malaysia's economic outlook in the second half of this year remained positive, driven by a good momentum of economic growth.

KLCI Day Performance
Open	1847.98
High	1850.53
Low	1846.88
Close	1850.39
Change(Points)	1.070
% Change	0.06%
Volume	3012.1M
Rise	381
Fall	452
Unch	1445

Market forecast for KLCI:
Market performed well today and closed higher in green market. It is anticipated to open tomorrow nearby 1850 on support of previous levels.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1821	1804	1779	1861	1882	1896

Technical indicators:RSI stood below the centre line at 37.059 with its CCI at -178.682. Difference line of MACD performed at -7.148 below its signal line which performed at -3.101

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
PETGAS.KL	21.7	1.78	MISC.KL	6.59	-1.64
HLBANK.KL	14	0.86	HLFG.KL	17.1	-1.04
IHH.KL	4.76	0.63	UEMS.KL	2.04	-0.97
CIMB.KL	6.92	0.58	PCHEM.KL	6.6	-0.9
UMW.KL	11.66	0.34	FGV.KL	3.97	-0.75

Economic Factors:

• Late buying helped push the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) on Bursa Malaysia to close marginally higher today, marking gains for the second consecutive days.
• Malaysia's economic outlook in the second half of this year remained positive, driven by a good momentum of economic growth.
• Crude palm oil (CPO) stocks in August to increase on the back of production recovery. The long-term CPO price uptrend remained intact due to sustainable demand seen from the sector despite the palm oil exports being affected by China's demand.
• The ringgit closed higher against the US dollar today in line with most emerging Asian currencies.
• The Malaysian rubber market closed lower yesterday on lack of demand. The rubber inventory in warehouses had dipped by 0.3 per cent week-on-week, the positive sentiment was countered by limited gains resulting from a drop in other industrial commodities on the Tokyo Commodity Exchange and the strengthening of the ringgit.