FTSE Bursa Malaysia KLCI (.KLSE) ends broadly higher, CI up 0.71pc

FTSE Bursa Malaysia KLCI (.KLSE) ends broadly higher, CI up 0.71pc

FTSE Bursa Malaysia KLCI (.KLSE) ends broadly higher, CI up 0.71pc

Bursa Malaysia ended broadly higher in line with regional peers and amid an announcement of better-than-expected Chinese trade data for July. 

At close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 0.71 per cent or 11.32 points to end at 1,616.02 from yesterday’s close of 1,604.7.

The key index, which opened 2.48 points higher at 1,607.18, moved between 1,605.84 and 1,620.65 throughout the day.

On the broader market, gainers outmuscled losers 508 to 296, while 401 counters remained unchanged, 699 untraded and 18 others suspended.

Turnover decreasing to 2.12 billion units worth RM1.52 billion against 2.57 billion units worth RM2.56 billion yesterday.

China’s exports increased by 3.3 per cent year-on-year, the fastest since March, but imports fell 5.6 per cent.

Regionally, Hong Kong’s Hang Seng Index went up 0.48 per cent to 26,120.77, Japan’s Nikkei 225 advanced 0.37 per cent to 20,593.35 and Singapore’s Straits Times Index fell 0.47 per cent to 3,169.86.

On Bursa, for the heavyweights, Maybank added two sen to RM8.62, Public Bank advanced 14 sen to RM21.42, Petronas Chemicals gained one sen to RM7.30, while TNB, IHH Healthcare and CIMB were flat at RM13.84, RM5.75 and RM5.06 respectively.  

As for the actives, Datasonic rose 7.5 sen to 80 sen, Genting Malaysia rose five sen to RM3.23, SMTrack increased one sen to 20 sen, KNM and Iris Corp were flat at 39.5 sen and 16 sen respectively, while Eduspec eased one sen to 5.6 sen and Netx inched down half-a-sen to 1.5 sen.

The FBM Emas Index bagged 80.67 points to 11,440.07, the FBMT 100 Index went up 77.79 points to 11,273.4, while the FBM Emas Shariah Index improved 91.85 points to 11,928.01.

The FBM 70 was 93.64 points higher at 14,279.49 and the FBM Ace expanded 73.93 points to 4,652.07.

Sector-wise, the Financial Services Index accelerated 76.21 points to 15,857.32, the Plantation Index advanced 127.89 points to 6,757.21 and the Industrial Products and Services Index inched up 0.71 point to 151.61.

Main Market volume declined to 1.14 billion shares valued at RM1.35 billion versus yesterday’s 1.58 billion shares valued at RM2.39 billion.  

Warrants turnover fell to 409.73 million units worth RM100.12 million from 506.23 million units worth RM110.52 million yesterday.   

Volume on the ACE Market rose to 569.73 million shares valued at RM64.81 million against 482.21 million shares valued at RM50.46 million.

Consumer products and services accounted for 199.55 million shares traded on the Main Market, industrial products and services (134.39 million), construction (91.58 million), technology (168.25 million), SPAC (nil), financial services (34.72 million), property (62.06 million), plantations (8.32 million), REITs (11.83 million), closed/fund (9,100), energy (252.34 million), healthcare (29.12 million), telecommunications and media (104.55 million), transportation and logistics (25.81 million) and utilities (15.23 million). ­

Technical Indicators

Overall, the bias in prices is: Downwards.

By the way, prices are vulnerable to a correction towards 1,646.24.

The projected upper bound is: 1,639.55.

The projected lower bound is: 1,593.07.

The projected closing price is: 1,616.31.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 44.8066. This is not an overbought or oversold reading. The last signal was a buy 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 34.15. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -89. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 22 period(s) ago.

Rex Takasugi – TD Profile

FTSE BURSA KLCI closed up 11.320 at 1,616.020. Volume was 1% below average (neutral) and Bollinger Bands were 41% wider than normal.

Open     High      Low     Close     Volume___
1,607.1801,620.6501,605.8401,616.020 116,574,200
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 1,629.08 1,655.69 1,668.15
Volatility: 10 9 10
Volume: 161,934,304 125,154,040 124,861,120

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FTSE BURSA KLCI is currently 3.1% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .KLSE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .KLSE and have had this outlook for the last 15 periods.

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