After GST implementation in Malaysia since April 2015, Malaysians are struggling with the increasing cost of living. More expensive food and dining out, toll hike, weakening Ringgit and not to mention stagnant property price and stock market crash. We are wondering is this only happen in Malaysia? Does other countries having the same problem?
Our Prime Minister is going to announce 2016 Budget on this coming Friday. While all Malaysians are hoping for better policies which can reduce financial burden; we are afraid expectation bring disappointment.
KLCI Index rebounded from 1504 to 1728, about 14% within two months. Will 2016 Budget announcement continue the uptrend? Or it is leading to another sell down?
FBM KLCI today closed @ 1705.03 (-13.17) while October KLCI futures closed below 1700 at 1692 (-23). October futures range between 1689.5-1719 (29.50). We see immediate resistant for KLCI at 1730, second resistant 1750. Immediate support is at 1675, further support 1640.
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