Thursday, October 31, 2024

1 November 2024 BMD

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                                                   LOCAL MARKET


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FKLI

Malaysia's stock benchmark ended the early session a third of a percent lower as investors weighed the risks to China following the US presidential elections.

At 12.30pm, the FBM KLCI was down 5.18 points to 1,609.9, while the broader market registered 605 counters in the red as compared to 282 gainers.

Plan A : Attempt short if the market stays below 1607. Targets are 1602 and 1596.

Plan B : Consider long if the market stays above 1607. Targets are 1612 and 1617.



FCPO
 
FCPO uptrend still intact, breaking recent high since 2022. Dalian traded +94 at 9530 while soybean oil traded +0.65 at 45.80 for the day. Ringgit strengthen to 4.36 against the greenback.

Plan A : Long if market supported above 4660. Targets are 4682 and 4720.

Plan B : Short only if market fail to support above 4660. Targets are 4638 and 4617.




Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of

that investment.