Malaysia: Daily Market Commentary - 24 May

Transcription

1. Daily Note Daily Market Commentary (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 Wednesday, 24 May 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (23.05.2017) Volume (mil) +/-chg (RMmn) Main Market 1,955.7 -493.7 2,631.0 Warrants 320.0 -92.1 43.1 ACE Market 635.1 -593.4 128.4 Bond 4.1 -2.1 0.8 ETF 0.0 0.04 0.1 Total 2,915.0 2,803.4 Off Market 25.8 2.5 135.0 Value +/-chg -109.5 -11.0 -26.4 -0.8 0.05 114.7 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP May 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) 11.7 3.5 2.3 2.0 1.8 1.7 1.1 Up Down 210 448 43 123 34 62 2 2 3 1 292 636 % chg % YTD chg 1,767.17 12,666.36 17,850.75 1,765.00 -7.78 -74.36 -133.80 -9.00 -0.44 -0.58 -0.74 -0.51 7.64 10.46 21.31 7.92 20,937.91 6,138.71 7,485.29 19,613.28 2,311.74 25,403.15 3,222.69 1,564.69 5,730.61 3,061.95 1,789.47 5,760.19 43.08 5.09 -11.05 -65.00 7.71 11.81 9.12 6.96 -18.83 -13.73 -38.75 -11.01 0.21 0.08 -0.15 -0.33 0.33 0.05 0.28 0.45 -0.33 -0.45 -2.12 -0.19 5.95 14.04 4.79 2.61 14.08 15.47 11.87 1.41 8.19 -1.34 -9.12 1.67 @ @ @ @ @ @ @ (RM) 9.32 2.45 1.40 0.55 5.98 0.50 0.45 Counter IHH MAXIS AXIATA DIGI PETGAS GENTING GENM HLBANK IOICORP KLK Mkt Cap. (RM’mn) 48,264 48,217 46,665 39,031 37,952 36,615 33,614 28,636 28,340 26,369 Chg (RM) -0.11 -0.10 -0.04 -0.01 -0.62 -0.03 -0.06 -0.04 -0.03 -0.08 Stocks slipped back into profit-taking correction mode Tuesday, dragged down by a terrorist incident in the UK and weaker oil prices after the US proposed to sell half of its huge crude oil inventory. The index fell 7.78 points to close at the day's low of 1,767.17, off an early high of 1,777.08, as losers swarmed gainers 636 to 292 on slower turnover of 2.91bn shares worth RM2.8bn. Renewed geopolitical concerns following the terror attack in the UK and concerns a looming glut will upset OPEC's plan to extend output cuts may act to dampen near-term sentiment. Meantime, immediate uptrend supports for the index are at the rising 30 and 50-day moving average levels, now at 1,760 and 1,753, with better support at 1,740. Immediate upside hurdle for the benchmark stays at last Tuesday's new two-year high of 1,787, followed by the 1,800 psychological level and 18 May 2015 high of 1,823. Any price weakness on Sapura Energy shares towards the 61.8%FR (RM1.89), reinforced by the 100-day ma (RM1.86) support, will be attractive to bargain for rebound upside towards the 50%FR (RM2.08), with a decisive breakout to aim for the 38.2%FR (RM2.26) next. Wah Seong remains in base building mode, pending convincing breakout above the 61.8%FR (94sen) to target the 50%FR (RM1.04) and 38.2%FR (RM1.14) going forward. Key chart support is from the 200-day ma (86sen). News Bites • • • • Top 10 KLCI Movers Based on Mkt Cap. Off Market SIME TOMYPAK CHINHIN GUNUNG CIMB OMESTI BERTAM Review & Outlook Value/ Volume 1.35 0.13 0.20 0.19 1.29 0.96 5.24 Vol. (mn) 8.30 1.40 1.76 2.44 0.48 2.12 7.75 1.61 3.18 1.80 • • • • • • • Telekom Malaysia Bhd's 1QFY17 core net profit of RM230mn (-14.9% QoQ, +13.2% YoY) was within ours and consensus expectations. RHB Bank Bhd's 1QFY17 net profit contracted to 11.4% YoY to RM500.3mn. It was within expectations. UMW Holdings Bhd reported headline net profit of RM20.2mn in 1Q17 but excluding exceptional items, the core net loss of RM4.5mn was within our full year estimates and consensus. AirAsia X Bhd saw its net profit plunge 94.2% to RM10.3mn in 1QFY17 from RM179.5mn a year ago, on higher operating expenses including fuel prices. Star Media Group Bhd's net profit fell 57.1% YoY to RM6.6mn in 1Q17 on lower profit from its print segment. It was below expectations. Pos Malaysia Bhd's net profit for FY17 advanced 33% YoY to RM84.1mn, mainly due to inclusion of results from the newly-acquired logistics business, coupled with strong growth in its courier business. Ranhill Holdings Bhd aims to increase its power generation capacity to 1,000MW by 2020 from 380 MW currently. The race between China's Geely Automobile Holdings Ltd and France's Groupe PSA as the foreign strategic partner for Proton Holdings Bhd is nearing its end, with Geely the ultimate winner, according to sources. Wing Tai Malaysia Bhd has received a voluntary take-over offer from Wing Tai Holdings Ltd and Wing Tai Investment & Development Pte Ltd for a cash offer of RM1.80 per share. Kerjaya Prospek Group Bhd has secured a RM77mn contract for the building and external works of a 24-storey office building in Mutiara Damansara, Selangor. Purchases of new, single-family homes, which account for a narrow slice of all U.S. home sales, decreased to a seasonally adjusted annual rate of 569,000 in April, down 11.4% from March. Important Dates 3A - 1:4 Bonus Issue - BI of 98.4m shares. Ex-Date: 23/05/2017. Entitlement Date: 25/05/2017. LISTING ON: 26/05/2017. MKH - 1:10 Rights Issue - RI of up to 45.4m shares together bonus issue of up to 90.8m shares. 1 rights share for every 10 existing shares held, at an issue price of RM1.89 per rights share, together with 2 bonus shares for every 1 rights share subscribed. LISTING ON: 01/06/2017. Exchange Rate USD/MYR 4.2930 -0.0120 USD/JPY 111.26 -0.1600 EUR/USD 1.124 0.0012 Commodities Futures Palm Oil (RM/mt) 2,617.00 -42.00 Crude Oil ($/Barrel) 51.49 0.68 Gold ($/tr.oz.) 1,250.80 -9.70 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
2. Technical Comments : BUY Sapura Energy & Wah Seong Any price weakness on Sapura Energy shares towards the 61.8%FR (RM1.89), reinforced by the 100-day ma (RM1.86) support, will be attractive to bargain for rebound upside towards the 50%FR (RM2.08), with a decisive breakout to aim for the 38.2%FR (RM2.26) next. Wah Seong remains in base building mode, pending convincing breakout above the 61.8%FR (94sen) to target the 50%FR (RM1.04) and 38.2%FR (RM1.14) going forward. Key chart support is from the 200-day ma (86sen). SAPURA ENERGY Upper Middle RM1.91 (-0.04) BOLLINGER BANDS RM RM 2.03 1.94 10-day 30-day RM 1.85 50-day Lower DMI Recent Signal BUY 1.93 Recent Signal SELL Signal Change WAH SEONG Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 1.92 RM 1.96 BOLLINGER BANDS RM RM RM DMI RM0.91 (+0.015) 0.91 0.89 0.88 BUY SIMPLE MOVING AVERAGES RM 0.90 RM 0.89 RM 0.89 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 4