CRUDE OIL TO ITS RISING STAIRS

CRUDE
Crude oil was already moving in a gap up pricing, after all day consolidation the prices again jumped after the US opening and broke the $ 37 handle this lead to the main change in the price and trend of the crude oil. Now we find the major resistance at $ 38.25 if the buyers lead the market then we have a wide range to cover at part of profit.

Forecast
Buying in oil after $ 38.50 can lead the price for $ 41.00 where on the lower end we can wait for the price of $ 35.00

Bursa Malaysia Latest News Of The Day

Malaysian Benchmark: 

• The FBM KLCI opened 3.62 focuses higher at 1,696.11 . 
• The ringgit opened higher against the US dollar on crisp purchasing enthusiasm for the neighborhood note.

Counter-Specific News:

• Felda Global Ventures Holdings Bhd (FGV) said there were no human trafficking cases found at its plantations in Jempol, Negeri Sembilan following an assessment by Wild Asia, an independent verifier dedicated to promoting sustainability in Asia.
   
• Eversendai Corp Bhd, which aims to clinch a record RM2 billion new job wins this year, is likely to bag RM500 million worth of jobs in the next month or so, according to Hong Leong Investment Bank (HLIB) Research.
   
• Comfort Gloves Bhd (formerly known as Integrated Rubber Corp Bhd) reported a fire outbreak this morning at its newly-built three-storey warehouse and packing department in Taiping, Perak.
   
• Hibiscus Petroleum Bhd has asserted that a co-shareholder in Lime Petroleum Plc, Singapore-listed Rex International Holding Ltd, has continued making only "bare, unsupported assertions and claims" regarding alleged discrepancies on Hibiscus' part when disclosing information on Lime Petroleum Plc.
   
• Genetec Technology Bhd plans a share consolidation of every 10 existing shares into one consolidated share to reduce fluctuation in its share price.

Global News:

• Shares in Hong Kong and Shanghai rose in the first few minutes of trade on Monday following a strong US jobs report late last week while investors weigh China's decision to lower its economic growth outlook for this year.
   
• Oil prices opened strongly on Monday after rallying in the previous session, as tightening supplies supported the market and sentiment around a market recovery strengthened. Front-month Brent crude futures were trading at US$39.08 per barrel at 0019 GMT, up 36 cents from their last settlement. Commodity prices have been on the mend, with oil prices recovering more than 30 percent from January's 12-year lows, helped by hopes of measures to ease global glut.
   
• Hong Kong residential home sales plunged 70 per cent in February from a year earlier to a 25-year low as falling prices and economic uncertainty deterred buyers

FBMKLCI 07 Mar 2016 12:30PM

Bursa Malaysia News For Today and Forecast of Market

Malaysian Benchmark:

The FBM KLCI opened 1.59 points lower at 1,686.61.

The local unit was quoted at 4.1280/1340 per US dollar versus 4.1310/1380 at 5pm on Thursday.

Counter-Specific News: 

• The cases by Petroliam Nasional Bhd and Petronas Gas Bhd (PetGas), on the off chance that they are esteemed payable, will have an unfriendly money related effect to MClean Technologies Bhd.MClean Technologies said this in a recording to Bursa Malaysia yesterday. 
• Berjaya Corp Bhd (BCorp) is wanting to work another drug store chain, Chemist Warehouse Berjaya Asia – a joint endeavor between its recently procured organization Morning Charm Sdn Bhd and Melbourne-based CW Retail Asia Pty Ltd. 
• Shares of Kuantan Flour Mills Bhd fell 11.11% early today after the organization told Bursa Malaysia that it had gotten the gesture from the Companies Commission of Malaysia to hold its yearly broad meeting for 2015 and table its evaluated budgetary proclamation for the period finished Sept 30, 2015, by most recent March 31, 2016. 
• Malaysia Airports Holdings Bhd (MAHB) is one of the leaders to secure an arrangement to deal with the new terminal at Saudi Arabia's King Abdulaziz International Airport (KAIA) in Jeddah. 
• AirAsia Bhd reported final quarter money related year 2015 (4QFY15) net benefit of RM554.2 million (4QFY14: net loss of RM428.5 million). 
• Shares of Inari Amertron Bhd rose 2.12% at mid-morning today after its completely possessed auxiliary Inari Integrated System Sdn Bhd (IISB) has gotten a letter of endorsement from the Malaysian Investment Development Authority (MIDA) for a coordinated coordinating award of RM100 million.

Market Review for KLCI 

The FBM KLCI list lost 2.83 focuses or 0.17% on Thursday. The Finance Index fell 0.30% to 14225.65 focuses, the Properties Index up 0.13% to 1138.46 focuses and the Plantation Index rose 0.20% to 7864.59 focuses. The business sector exchanged inside of a scope of 15.64 focuses with a high of 1699.96 and a low of 1684.32. The KLCI neglected to keep up in positive domain and shut hardly bring down at 1688.20 focuses in the midst of overnight picks up in US Market as oil cost edged higher. The execution of our nearby bourse was constrained as benefit taking kicked in taking after the rally in the previous two days 

Market gauge for KLCI 

The KLCI file is required to be miserable furthermore if test the level of 1706 in coming exchanging session and the hybrid of this level can push the cost further up to the level of 1726 in close term.

KLCI Market Review|Levels|FBMKLCI Day Performance

Market Review for KLCI 

As on 2 march

The FBM KLCI list increased 16.07 focuses or 0.97% on Tuesday. The Finance Index expanded 0.87% to 14140.12 focuses, the Properties Index up 0.99% to 1135.7 focuses and the Plantation Index rose 0.39% to 7821.5 focuses. The business sector exchanged inside of a scope of 15.35 focuses with a high of 1670.82 and a low of 1655.47. 

The KLCI shut higher at 1670.82 focuses regardless of overnight misfortunes in US Market. The execution of our neighborhood bourse was in accordance with the vast majority of our local associates after a bounce back on China's benchmark Shanghai Composite Index. 

Market estimate for KLCI 

The KLCI file is relied upon to test the level of 1675 in coming exchanging session and the hybrid of this level can push the cost further up to the level of 1685 in close term

Malaysian Benchmark:

• At 9am, the FBM KLCI rose 4.81 points to 1,675.63.
• At 9.01 am, the Ringgit stood at 4.1565/1605 from 4.1685/1755 on Tuesday, in extending the improvement against the US dollar.

FBM KLCI Performance & Levels