Hang Seng (HKFE) (G6) Intraday: limited upside. as on 16 feb

Hang Seng (HKFE) (G6) Intraday: limited upside.

Our preference: long positions above 18900.00 with targets @ 19400.00 & 19600.00 in extension.

Alternative scenario: below 18900.00 look for further downside with 18600.00 & 18300.00 as targets.

Bursa Malaysia Rally Tuesday Morning

KUALA LUMPUR: Key Asian markets including Bursa Malaysia extended their gains in the morning session on Tuesday as global risk aversion eased and crude oil prices continued their upward trend.

At 12.30pm, the FBM KLCI was up 11.68 points or 0.71% to 1,661.64, supported by gains in Axiata CIMB and Genting Bhd. Turnover was 946.49 million shares valued at RM742.67mil. There were 409 gainers, 294 losers and 268 stocks unchanged.

The US dollar stood tall against the yen and euro on Tuesday as a bounce in equities and crude oil prices tempered global risk aversion that battered the greenback last week, Reuters reported.

The ringgit slipped against the US dollar, pound sterling and Singapore dollar. It was at 4.1533 to the greenback from 4.1310 the previous day and it was at 5.9962 to the pound from 5.9870 and steadier against the Singapore unit at 2.9579 from 2.9536.

Among the key regional markets,

Japan’s Nikkei 225 rose 1.63% to 16,284.01;

Hong Kong’s Hang Seng Index advanced 1.64% to 19,228.55;

CSI 300 climbed 2.85% to 3,030.59;

Shanghai’s Composite Index gained 2.83% to 2,823.86;

Spot gold fell US$15.64 to US$1,193.65.