STI & KLCI Technical Analysis Outlook 12 Feb

 

  

Market Review for STI: Share prices opened flat with the Straits Times Index down 1.28 points to 3,443.29.

Singapore shares sank on heightened concerns over Greece's standoff with its creditors after talks in Brussels between the country's anti-austerity government and eurozone finance ministers failed to achieve any deal.
Market forecast for STI: Market was dipped down by 25 points.STI will move in the range of 3400 to 3450.
Technical Indicators: RSI is at 56 and CCI is at 59.
Market Review for KLCI: Bursa Malaysia ended on an easier note today, with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) down 9.88 points to 1,789.07 despite the better-than-expected 2014 gross domestic product growth.

Malaysia’s economy grew by six per cent last year after recording a 5.8 per cent growth in the fourth quarter, mainly driven by private sector spending.
The key index fluctuated between 1,780.21 and 1,791 throughout the session mostly dragged down by selling in blue-chips led by TNB. Despite the better-than-expected six per cent gross domestic product growth announced by Bank Negara Malaysia today, the local market was on a downtrend due to selling in bluechips.

Market forecast for KLCI: Immediate resistance for KLCI is 1789 which needs to break to be bullish. On interval chart, it is forming double bottom pattern, which anticipate market to be under buying territory. According to the fundamental market may be gloomy till Chinese New Year.
Technical indicators: RSI stood below the center line at 53.327 with its CCI at 10.497. Difference line of MACD performed at 12.997 above its signal line which performed at 12.511.
Important Factor for today:-

• THE Singapore Exchange (SGX) has issued a "trade with caution" note on UOL Group, which saw a substantial 6.4 per cent rise in its share price.
• Singapore billionnaire Peter Lim's Rowsley has teamed up with a developer in Vietnam to build and manage a US$550-million ($748-million) mixed development in Yangon, Myanmar, marking the Mainboard-listed company's first property deal outside Malaysia.
• DBS Group Holdings will mark Singapore's 50th birthday by giving a $1,000 hongbao to each of its 18,000 employees.
• Internet-based investment platform iFAST's fourth quarter net profit plunged 67 per cent over the same period last year, due in part to listing costs and expenditures to support the company's growth.
• International Finance Corp, the World Bank's private-sector financing arm, is investing in China Everbright Water to back the water-treatment company's expansion and help reduce pollution.
• SEMBCORP Industries is expanding its renewable energy business and branching into solar power for the first time.
• Dufu Technology Corp Bhd, which last month denied claims that it was a takeover target, has received a letter alleging that certain senior management had misappropriated funds totalling RM3.9 million.
• Tanjung Offshore Bhd has lodged a police report against two directors who have been suspended from their executive positions following the findings of the company's Independent Committee.
• Kwasa Land Sdn Bhd, has awarded Project R3-2, an 8.79-acre residential development within Kwasa Damansara, to Impiana Land & Development Sdn Bhd.
• Glove manufacturers will see less downward margin pressure in 2015 due to a weaker ringgit arising from the decline in global oil prices, said Supermax Corp Bhd's CEO.
• Fitch Ratings appears to have made up its mind to downgrade Malaysia's sovereign ratings in late May or early June this year unless there are more convincing fiscal measures being introduced from now till May 2015.
• Hibiscus Petroleum Bhd's wholly owned unit, Carnarvon Hibiscus Pty Ltd (CHPL), will begin drilling an exploration well in VIC/P57 offshore Australia in June 2015.
• Tenaga Nasional Bhd's future prospects remain promising despite the new tariff adjustment and three per cent loss in its shares.
• Power firm Malakoff Bhd is expected to launch a long-delayed RM3.59 billion initial public offering as early as this month as it has offered its shares to indigenous investors. Offering shares to bumiputra investors is a government-mandated prerequisite for most companies seeking IPOs.