Bursa Malaysia : KLCI Outlook 05 Aug

Market Review for KLCI:
Share prices opened lower today with KLCI down 2.61 to 1872.55. The situation in the US is not really confirmed. The IMF lowering its growth forecast as well as indication that interest rate hikes will be deferred to 2015 is not positive news. The close was observed at 1876.69 .The prices are below 20 days EMA and little above the 50 days EMA.

KLCI Day Performance
Open	1872.55
High	1876.69
Low	1872.14
Close	1876.69
Change(Points)	+0.89
% Change	+0.05
Volume	1625.8M
Rise	238
Fall	178
Unch	693

Market forecast for KLCI:
KLCI took a good pace at the start of the week and still moving at highs, seems it rose from the support of 1862 and also expected to move at the same pace.

KLCI LEVELS
Support 1	Support 2	Support 3	Resistance 1	Resistance 2	Resistance 3
1870	1865	1860	1880	1885	1890

Technical indicators:RSI is below the centre line at 49.17 and CCI is at -40.73.MACD indicating the level of -0.850.

Top Gainers			Top Losers
Scrip Name	CMP	%change	Scrip Name	CMP	%change
PETDAG	19.84	4.64	PETGAS	22.4	-3.03
AMBANK	7.17	3.02	ASTRO	3.31	-1.19
MISC	6.62	2.96	SIME	9.56	0.11
DIGI	5.85	2.45	RHBCAP	9.06	0.22
GENM	4.36	2.11	PBBANK	19.82	0.41

Economic Factors:

• The Malaysian equities market recorded a whopping RM13bil in net outflows of foreign portfolio funds over a 15-month period, and industry experts remain divided as to whether this negative trend will continue.
• Malaysian banks with Indonesian subsidiaries could face more hurdles in expanding their businesses when a law to cap foreign ownership to 40% likely comes on stream between now and October.
• United Plantations fell 28 sen to RM28.30 and PPB Group fell 26 sen to RM14.74 while KKL Kepong was down 20 sen to RM23.52.
• Gamuda has proposed to acquire the entire equity interest in Salak Land Sdn Bhd, which is owned by the Tan family of Mahajaya Bhd fame.