KLSE MALAYSIA STOCK MARKET TRADING PICKS

MARKET UPDATES :

• The FBM KLCI index lost 0.21 points or 0.01% on Friday. The Finance Index fell 0.02% to 13836.7 points, the Properties Index dropped 0.32% to 1098.39 points and the Plantation Index rose 0.29% to 7722.81 points. The market traded within a range of 10.20 points between an intra-day high of 1648.70 and a low of 1638.50 during the session.

• Actively traded stocks include TIGER, XDL, GAMUDA-WR, GENETEC, SKH, XOX, APFT, BJCORP, VIVO- COM and HSI-HQ. Trading volume increased to 1333.72 mil shares worth RM1574.00 mil as compared to Thursday’s 1226.16 mil shares worth RM1411.24 mil.

• Leading Movers were ASTRO (+4 sen to RM2.68), CIMB (+6 sen to RM4.20), MISC (+12 sen to RM8.70), IOICORP (+6 sen to RM4.67) and KLCC (+9 sen to RM7.04). Lagging Movers were GENM (- 12 sen to RM4.27), MAXIS (-8 sen to RM6.06), GENTING (-8 sen to RM7.79), PETCHEM (-6 sen to RM6.90) and WPRTS (-2 sen to RM3.98). Market breadth was negative with 271 gainers as compared to 517 losers.

• The KLCI ended little change for the second day and closed lower at 1643.74 points amid overnight losses in US market after oil prices dipped below US$30 a barrel. Market sentiment remained muted as investors were cautious with global gloom outlook.

STOCK RECOMMENDATION :

• BUY SK PETRO ABOVE 1.820 TARGET 1.860 1.910 1.970 SL 1.750

Ringgit slides with Malaysian stocks it lower down to 0.7 per cent

The ringgit weakened 0.7 per cent to 4.1845 per US dollar as of 9.56

am in Kuala Lumpur, after last week posting its biggest rally since October as the outlook for the oil-exporting nation's finances improved amid a recovery in Brent crude. Oil fell for a second day on Tuesday as Malaysian markets reopened after a holiday on Monday.

The ringgit also weakened to 2.9393 to the Singapore dollar as of 10.41am, 0.7 per cent lower than its close on Monday.

"It appears that the dust is being kicked up on 1MDB all over again," said Mr Vishnu Varathan, a Singapore-based economist at Mizuho Bank Ltd. "Downside pressures for the ringgit could re-emerge."

The ringgit climbed 3.3 per cent in January, more than any other in emerging markets, on speculation 2015's 19 per cent decline was overdone.

Malaysia's benchmark stock index fell 0.5 per cent after climbing 2.6 per cent in the five days through Jan 29. Government bonds due in 2020 rose, with the yield falling two basis points to 3.36 per cent, Bursa Malaysia prices show.