KLCI Will Rose on Tuesday- Malaysia Stock Market Forecast

 The FBMKLCI closed in the positive at a level of 1634 with a low of 1621 during the day. if the traders take a cue from the bullish closing we saw today; a move above the level of 1637 should see a closing around the level of 1645. A bearish move is expected to fall till 1611. Tomorrow Stocks

   Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com over telephone that the KLCI's gain "was supported by bargain hunting by some investors".

   According to him, the KLCI's recent fall had spurred bargain-hunting activity among investors on selected blue chips. "Investors are buying into technology-related stocks (due to weakening ringgit) and construction-related stocks," Pong said.

KLCI COUNTER SPECIFIC NEWS :

• Malaysia Airlines Bherad is adding two new Airbus A350-900s with Air Lease Corporation (ALC) which will be delivered in 2018.
• EG Industries Bherad has secured a US$36mil (RM146mil) contract to be the sole manufacturer for Flic, the world’s first wireless smart button that creates a short-cut to favourite actions on mobile devices.
• CIMB Bank Bherad and Credit Guarantee Corporation Malaysia Bherad (CGC) have signed a memorandum of understanding (MoU) to add another RM750mil to the existing RM250 million.
• Enterprise Clean Loan (ECL), as part of a joint initiative to nurture and develop Malaysian Small and Medium Enterprises (SMEs).

GLOBAL FACTORS AND WORLD INDICES:

• Asia's benchmark stock index rebounded from four weeks of losses as Chinese and Taiwanese shares gained while Japanese equities pared a steep loss.
• China stocks edged higher,Blue-chip CSI300 index rose 0.3 per cent, to 3,087.22, while the Shanghai Composite Index gained 0.6 per cent, to 2,843.65 points.
• Hong Kong shares gave up initial gains and ended Monday flat, reflecting continued investor caution amid worries about China's economy and a possible US interest rate hike next month.
• Malaysian shares ended higher on Monday with the Kuala Lumpur Composite Index up 6.1 points to close at 1,634.89.
• Oil prices dipped in Asia Monday after Iran said it has no plans to join any output freeze by other major crude producers.
• Gold rebounded from the longest run of weekly losses this year after a rally in the dollar paused and investors expanded bullion holdings while debating the possible timing of a US interest rate increase.