Malaysia: Daily Market Commentary - 14 August

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1. Daily Note Daily Market Commentary Monday , 14 August 2017 (A Participating Organisation of Bursa Malaysia Securities Bhd) Menara TA One, 22 Jalan P Ramlee, 50250 Kuala Lumpur Tel : 603 - 2072 1277. Fax : 603 - 2032 5048 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (11.08.2017) Volume (mil) +/-chg (RMmn) Main Market 1,084.7 245.9 1,773.1 Warrants 205.6 47.3 31.1 ACE Market 338.7 -5.2 88.5 Bond 10.8 -1.4 1.2 ETF 0.1 0.04 0.1 Total 1,639.9 1,894.1 Off Market 20.7 -14.9 27.7 Value +/-chg 375.4 7.8 13.3 -0.5 0.07 -51.8 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP August Futures Other Markets DOW JONES NASDAQ (US) FTSE (UK) NIKKEI (JAPAN) KOSPI (KOREA) HANG SENG (HK) FSSTI (S'PORE) SET (BANGKOK) JCI (JAKARTA) SHANGHAI SHENZHEN AUSTRALIA (mn) 10.0 3.0 3.0 2.0 Review & Outlook Up Down 95 577 35 154 14 84 3 8 1 3 148 826 % chg % YTD chg 1,766.96 12,502.44 16,622.68 1,766.00 -10.81 -102.99 -273.67 -10.00 -0.61 -0.82 -1.62 -0.56 7.63 9.03 12.96 7.98 21,858.32 6,256.56 7,309.96 19,729.74 2,319.71 26,883.51 3,279.72 1,561.31 5,766.14 3,208.54 1,842.60 5,693.14 14.31 39.68 -79.98 0.00 -39.76 -560.49 -43.52 -10.33 -59.81 -53.21 -30.00 -67.79 0.07 0.64 -1.08 0.00 -1.69 -2.04 -1.31 -0.66 -1.03 -1.63 -1.60 -1.18 10.60 16.23 2.34 3.22 14.47 22.19 13.85 1.19 8.86 3.38 -6.42 0.48 Top 10 KLCI Movers Based on Mkt Cap. Off Market WZSATU KGB-WA PRESBHD ESAFE Value/ Volume 1.63 0.15 0.26 0.11 1.49 1.16 1.34 @ @ @ @ (RM) 1.03 0.30 1.75 0.40 Counter Mkt Cap. (RM’mn) MAYBANK 102,257 TENAGA 80,358 PBBANK 79,470 SIME 63,996 CIMB 56,160 PCHEM 48,693 AXIATA 44,520 MAXIS 43,191 GENTING 36,607 DIGI 36,387 Chg Vol. (RM) (mn) -0.09 10.81 -0.02 7.14 -0.02 4.96 -0.01 5.27 -0.01 7.78 -0.09 1.59 -0.08 6.83 -0.07 2.69 -0.04 3.48 -0.11 3.09 Important Dates AMEDIA - 3:1 Rights Issue - RI of up to 965.6m shares together with up to 321.9m free detachable warrants. 3 rights shares together every 1 existing share held, at an issue price of RM0.05 per rights share, together with 1 warrant for every 3 rights shares subscribed. Application Closed: 16/08/2017. LISTING ON: 29/08/2017. Fresh bearish technical momentum headlined by a daily stochastics sell signal implies further weakness ahead for the FBM KLCI following last Friday's selloff. Downside momentum and cautious undertone on the local market could increase on further sabre rattling from North Korea and the US as they jostle for supremacy in the North Asian geopolitical space. On the index, a confirmed breakdown below the 100-day moving average level at 1,764 may accelerate downward correction to next major support at 1,729, matching a key support in April, while crucial uptrend support is available at the 200-day moving average at 1,715. Immediate overhead resistance will be at 1,783, the upper Bollinger band, followed by the 16 June peak of 1,796. Stock-wise, blue-chip banking and defensive gaming stocks like AMBank, RHBBank, Genting Berhad and Genting Malaysia could suffer further losses due to weak chart patterns reflecting keen profit-taking interest, and similarly oil & gas and construction related counters such as Bumi Armada, Sapura Energy, Gadang and Sunway Construction as investors lean towards reducing market exposure. News Bites • 1Malaysia Development Bhd has remitted the equivalent of USD350mn to International Petroleum Investment Co PJSC part payment of a settlement that was due on July 31, 2017. • Pos Malaysia Bhd is acquiring two second-hand bulk carriers for a combined USD32.9mn, as part of requirements of the contracts awarded by TNB Fuel Services Sdn Bhd. • Bursa Malaysia has clarified that there are no plans to facilitate the listing of dual class shares. • Bumi Armada Bhd has inked a supplemental agreement for additional job scope worth USD134mn (RM576mn) from Russia's LUKOILNizhnevolzhskneft LLC • Sime Darby Bhd, via its subsidiary, Weifang Sime Darby Port Co Ltd has launched its liquid terminal in China on Wednesday, which will see the port expanding its range of services to provide storage and usage of terminal facilities for bulk oil and chemicals. • Reach Energy Bhd has decided to call off its private placement exercise and is likely to gear up as it explores funding avenues to raise some RM180mn. • Sunway Bhd has appointed former minister and Performance Management & Delivery Unit chief, Datuk Seri Idris Jala, as co-chairman of its board today. • Asia Bioenergy Technologies Bhd is planning a rights issue of irredeemable convertible preference shares with warrants to raise up to RM81.43mn, to be mainly used as investments in companies listed on Bursa Securities' Leading Entrepreneur Accelerator Platform. • Trive Property Group Bhd is looking to start manufacturing solar panel products, from only trading solar products. • Serba Dinamik Holdings Bhd's 1H17 core net profit of RM161.5mn (+42.0% YoY) was broadly within ours' but above consensus estimates. • MRCB-Quill Real Estate Investment Trust's realised net income rose 43.3% YoY to RM22.04mn in the 2Q17 on higher realised net income attributable to rental reversions and the recognition of income from Menara Shell. • U. S. consumer prices climbed 1.7% YoY in July, as did core prices, below the Fed's 2% goal for inflation. Exchange Rate USD/MYR 4.2964 0.0041 USD/JPY 109.06 -0.7600 EUR/USD 1.176 0.0036 Commodities Futures Palm Oil (RM/mt) 2,689.00 20.00 Crude Oil ($/Barrel) 48.79 0.28 Gold ($/tr.oz.) 1,291.50 2.70 DISCLAIMER The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD Kaladher Govindan, Head of Research