Bursa Malaysia Daily Market Report - 14 April

Transcription

1. Friday , 14 April, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED REPORTS’ News 1. Daily Market Commentary 2. Daily Brief Fundamental Reports 1. Banking Sector: Vibrant Debt Capital Market Activities Envisaged; FinTech Hogs Limelight at Forum Technical Reports 1. Daily Technical Stock Picks 2. Daily Stock Screen 3. Foreign Technical Stock Watch (AUS HK, & FSSTI) 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 (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
2. 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 Friday, 14 April 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (13.04.2017) (mil) Main Market 2,583.4 Warrants 167.7 ACE Market 1,102.6 Bond 8.8 ETF 0.1 Total 3,862.6 Off Market 253.5 Volume +/-chg (RMmn) 135.7 2,428.7 11.5 24.1 -300.3 141.4 -3.1 1.3 0.06 0.1 2,595.6 108.9 332.7 Value +/-chg 235.4 1.5 -44.5 -0.2 0.10 247.0 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP April 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 Up Down 156 554 37 112 24 92 3 5 0 2 220 765 % chg % YTD chg 1,738.18 12,383.22 17,316.20 1,733.50 -5.90 -57.52 -198.44 -10.50 -0.34 -0.46 -1.13 -0.60 5.87 7.99 17.67 5.99 20,453.25 5,805.15 7,327.59 18,426.84 2,148.61 24,261.66 3,169.24 1,589.50 5,616.55 3,275.96 2,014.67 5,889.95 -138.61 -31.01 -21.40 -125.77 19.70 -51.84 -16.77 0.00 -27.61 2.13 7.66 -44.01 -0.67 -0.53 -0.29 -0.68 0.93 -0.21 -0.53 0.00 -0.49 0.07 0.38 -0.74 3.49 7.84 2.59 -3.60 6.03 10.28 10.01 3.02 6.04 5.55 2.31 3.96 Top 10 KLCI Movers Based on Mkt Cap. Off Market (mn) PMETAL-WC 90.7 PMETAL 76.0 IJM 14.0 DNEX 11.9 SIME 11.8 MAYBANK 10.0 OCR 8.3 BINTAI 5.1 COFIRS 4.4 BPURI 3.7 BJASSET 3.6 RSAWIT 3.1 VERSATL 2.5 PLABS 2.0 EITA 2.0 UTDPLT 1.0 HOHUP 1.0 Value/ Volume 0.94 0.14 0.13 0.14 1.61 0.67 1.31 @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ (RM) 0.10 0.25 3.45 0.43 9.30 8.97 0.60 0.23 0.30 0.50 0.98 0.35 1.21 0.29 1.70 28.50 0.73 Counter Mkt Cap. (RM’mn) MAYBANK 91,242 PBBANK 76,998 SIME 63,112 PCHEM 62,000 CIMB 47,712 AXIATA 46,036 PETGAS 38,704 GENTING 34,882 MISC 32,987 IOICORP 27,667 Chg Vol. (RM) (mn) -0.02 12.39 -0.02 1.36 -0.02 6.31 -0.05 7.89 -0.09 24.33 -0.06 3.56 -0.12 0.22 -0.15 4.57 -0.04 0.48 -0.10 9.41 Important Dates PASUK GB - 1:1 Rights Issue - RI of up to 405.8m shares. SUKGB 1 rights share for every 1 existing share held, at an issue price of RM0.10 per rights share. Trading of Rights: 11/04 - 17/04/2017. Application Closed: 26/04/2017. LISTING ON: 11/05/2017. Review & Outlook Stocks fell on Thursday, weighed down by index-linked plantation stocks and selected blue-chip heavyweights and in tandem with regional weakness as investors assessed President Donald Trump's comments on the dollar and the ongoing geopolitical landscape. The KLCI fell 5.90 points to close at 1,738.18, off an opening high of 1,743.34 and low of 1,735.69, as losers swarmed gainers 765 to 220 on total turnover of 3.86bn shares worth RM2.59bn. The absence of strong leads from local institutional players and cautious regional sentiment should see the local market extend correction, before buyers return to cushion downside. Immediate support for the index remains at 1,737 and 1,723, the rising 30 and 50-day moving averages, with the 1,700 psychological level acting as stronger support. Immediate overhead resistance stays at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing closely matching last week's high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. Any dips on AMMB would be attractive to accumulate for technical rebound towards the upper Bollinger band (RM4.98) or the peak of 19/ 10/15 (RM5.05), with stronger hurdles seen at RM5.32 and RM5.48, the 123.6% and 138.2%, Fibonacci Projection levels. Immediate support is found at the 38.2%FR (RM4.33). Further correction on CIMB towards the 61.8%FR (RM5.08), would aggravate oversold condition and spark technical rebound, with immediate upside seen at the peak of 20/03/17 (RM5.83) and 123.6%FR (RM6.28). A stronger support platform is at the 50%FR (RM4.85). • • • • • • • • • • • • • • • • • News Bites The government is imposing definitive safeguard duties of up to 13.9% on imported steel concrete reinforcing bar, and steel wire rods and deformed bar in coils. Malaysia is weighing tougher enforcement cap on foreign ownership of insurers. Anzo Holdings Berhad had received a Letter of Intent from KL Northgate Sdn. Bhd. to construct the Paragon@KL Northgate development project in Selayang for an amount of up to RM1.2bn. Borneo Aqua Harvest Berhad has proposed to undertake a 1-for-2 free warrants issue. Handal Resources Berhad entered into a Goods and Services Outline Agreement with ExxonMobil Exploration and Production Malaysia Inc. (EMEPMI) for the provision of offshore crane maintenance services to EMEPMI. Edra Power Holdings Sdn Bhd's unit is close to signing the power purchase agreement with Tenaga Nasional Bhd for the development of Malaysia's largest combined cycle gas turbine power plant in Alor Gajah, Melaka. SEG International Bhd proposed a five-for-seven bonus issue to rewards its shareholders and potentially encourage trading liquidity. The Sabah state government does not plan to dispose of its stake in Felda Global Venture Holdings Bhd. Celcom Axiata Bhd will not engage in a price war with other telecommunication providers, said Deputy Chief Executive Officer for Business Operations, Azwan Khan Osman Khan. Sunway Bhd is setting up six new hospitals at a total cost of RM1bn to cater to the rise in medical tourism, besides upgrading its existing Sunway Medical Centre. Matrix Concepts Holdings Bhd is putting its plans to expand its property development business overseas on hold, as it strives to cater to existing demand for properties in Malaysia. S P Setia Berhad's shares will be suspended from trading today, pending release of an announcement relating to a corporate exercise. Singapore central bank kept its monetary policy unchanged on Thursday as policymakers said the neutral stance is appropriate to ensure price stability. Singapore's economy grew a slightly lower-than-expected 2.5% YoY in the first quarter of 2017. The unemployment rate in Australia was steady at a seasonally adjusted 5.9% in March. Consumer sentiment advanced to a three-month high in April as Americans' optimism about their current financial situation and the economy reached the strongest point since 2000, University of Michigan survey data showed. Germany's consumer price inflation was unchanged at a four-month low in March. Exchange Rate USD/MYR 4.4120 -0.0146 USD/JPY 109.04 -0.5700 EUR/USD 1.064 0.0036 Commodities Futures Palm Oil (RM/mt) 2,511.00 -27.00 Crude Oil ($/Barrel) 52.91 0.09 Gold ($/tr.oz.) 1,290.10 1.20 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
3. TA Securities Friday , April 14, 2017 FBMKLCI: 1,738.18 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Brief Market View, News In Brief: Corporate, Economy, and Share Buybacks THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TA Research Team Coverage Market View Tel: +603-2072 1277 taresearch@ta.com.my www.taonline.com.my Cautious on Lack of Buying Support Stocks fell on Thursday, weighed down by index-linked plantation stocks and selected bluechip heavyweights and in tandem with regional weakness as investors assessed President Donald Trump's comments on the dollar and the ongoing geopolitical landscape. The KLCI fell 5.90 points to close at 1,738.18, off an opening high of 1,743.34 and low of 1,735.69, as losers swarmed gainers 765 to 220 on total turnover of 3.86bn shares worth RM2.59bn. Immediate Supports Remains at 1,737/1,723 The absence of strong leads from local institutional players and cautious regional sentiment should see the local market extend correction, before buyers return to cushion downside. Immediate support for the index remains at 1,737 and 1,723, the rising 30 and 50-day moving averages, with the 1,700 psychological level acting as stronger support. Immediate overhead resistance stays at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing closely matching last week’s high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. Buy on Weakness AMMB & CIMB Any dips on AMMB would be attractive to accumulate for technical rebound towards the upper Bollinger band (RM4.98) or the peak of 19/10/15 (RM5.05), with stronger hurdles seen at RM5.32 and RM5.48, the 123.6% and 138.2%, Fibonacci Projection levels. Immediate support is found at the 38.2%FR (RM4.33). Further correction on CIMB towards the 61.8%FR (RM5.08), would aggravate oversold condition and spark technical rebound, with immediate upside seen at the peak of 20/03/17 (RM5.83) and 123.6%FR (RM6.28). A stronger support platform is at the 50%FR (RM4.85). Trump’s Dollar Comments Send Most Asian Markets Lower Asian equities were mostly lower in Thursday trade, following comments made by U.S. President Donald Trump that the dollar was too strong. In an interview with the Wall Street Journal, Trump said the dollar is getting too strong and that would eventually hurt the economy. Bonds also benefited from Trump’s comments that he likes the Federal Reserve’s low-interest-rate policy and didn't rule out the possibility of re-nominating Fed Chair Janet Yellen once her current four-year term is up next year. Japanese stocks slumped to fresh four-month lows as the yen spiked against the dollar after U.S. President Donald Trump said the U.S currency was too strong, hitting exporters and financial stocks hard. The Nikkei 225 share average ended 0.7 percent lower to 18,426.84, the weakest closing level since Dec. 6. Australia’s ASX 200 also slipped 0.74 percent or 44.06 points to close at 5,889.60, dragged by its materials sub-index, which was down more than 3 percent. Chinese stocks inched up on Thursday as investors continued to bet on stocks that could benefit from Beijing's plan to build a vast new economic zone, though gains were capped by fears that policy tightening will crimp economic growth. The blue-chip CSI300 index rose 0.2 percent to 3,514.57 points, while the Shanghai Composite Index added 0.1 percent to 3,275.96 points. Page 1 of 6
4. TA Securities 14-Apr-17 A Member of the TA Group Wall Street End Lower On Mounting Geopolitical Unease Stocks fell on Thursday after the U .S. launched a heavy bombing campaign against Islamic State positions in Afghanistan. The U.S. military dropped the largest nonnuclear bomb it has ever used in combat on an Islamic State tunnel complex in eastern Afghanistan, the Pentagon said. The U.S. used GBU-43 bomb, a massive ordnance air blast weapon, better known as the “mother of all bombs,” or MOAB, to aid U.S. and Afghan forces clearing the area. Investors were also nervous ahead of a potential North Korean nuclear bomb test, which could come as early as Saturday. In addition, traders are trying to get a handle on President Donald Trump’s fiscal and economic plans following his remarks from Wednesday, in which he called the dollar too strong, signaled a softening on China’s currency practices and left open the possibility of reappointing Federal Reserve Chair Janet Yellen. On earning front, JPMorgan Chase, Citigroup and Wells Fargo all reported quarterly results on Thursday. JPMorgan easily topped expectations, while Citigroup also posted better-than-expected results. Wells Fargo posted mixed results. The Dow Jones Industrial Average dropped 138.61 points, or 0.67 percent, to 20,453.25, the S&P 500 fell 15.98 points, or 0.68 percent, to 2,328.95 and the Nasdaq Composite lost 31.01 points, or 0.53 percent, to 5,805.15. Page 2 of 6
5. TA Securities 14-Apr-17 A Member of the TA Group News In Brief Corporate The government is imposing definitive safeguard duties of up to 13 .9% on imported steel concrete reinforcing bar, and steel wire rods and deformed bar in coils. A final decision has been made to impose the duties for a three year period. (The Edge) Malaysia is weighing tougher enforcement cap on foreign ownership of insurers as it seeks to boost local participation in the industry. The central bank is considering stricter application of an existing policy that foreign companies owning 100% of local insurance firms must pare their stakes to no more than 70%. (The Edge) Anzo Holdings Berhad had received a Letter of Intent from KL Northgate Sdn. Bhd. to construct the Paragon@KL Northgate development project in Selayang for an amount of up to RM1.2bn. The project entails the development of a 1.8mn sq ft six-storey shopping mall, including carparks. (Bernama) Borneo Aqua Harvest Berhad has proposed to undertake a 1-for-2 free warrants issue. The exercise price of the warrants has been fixed at RM0.87, with an expiry date of 7 years. Potential gross proceeds of up to RM283.3mn will be used for working capital requirements. (Bursa) Handal Resources Berhad entered into a Goods and Services Outline Agreement with ExxonMobil Exploration and Production Malaysia Inc. (EMEPMI) for the provision of offshore crane maintenance services to EMEPMI. The agreement is for a primary term of three years, effective 10 April 2017. (Bursa) Edra Power Holdings Sdn Bhd has taken a step closer to listing with the signing of the power purchase agreement between Tenaga Nasional Bhd and its subsidiary, Edra Energy Sdn Bhd, and the development of Malaysia's largest combined cycle gas turbine power plant in Alor Gajah, Melaka. (Bernama) SEG International Bhd proposed a five-for-seven bonus issue to rewards its shareholders and potentially encourage trading liquidity. (Bursa) The Sabah state government does not plan to dispose of its stake in Felda Global Venture Holdings Bhd. The investment was important and it was for the long term. At RM2.09, the state’s shares are valued at RM137.8mn. (Bernama) Celcom Axiata Bhd will not engage in a price war with other telecommunication providers, said Deputy Chief Executive Officer for Business Operations, Azwan Khan Osman Khan. However, if competition gets extremely aggressive in terms of price, the company may need to adjust prices to match. (Bernama) Sunway Bhd is setting up six new hospitals at a total cost of RM1bn to cater to the rise in medical tourism, besides upgrading its existing Sunway Medical Centre. The first of the six hospitals is under construction at Sunway Velocity in Cheras. To be completed in 2019, it will have 240 beds initially and an additional 100 later. (The Edge) Matrix Concepts Holdings Bhd is putting its plans to expand its property development business overseas on hold, as it strives to cater to existing demand for properties in Malaysia. The property developer will consider whether to conduct more projects outside Malaysia, upon completion of its sole overseas development called “M.Carnegie” in Melbourne, Australia. (The Edge) S P Setia Berhad’s shares will be suspended from trading today, pending release of an announcement relating to a corporate exercise. (Bursa) Page 3 of 6
6. TA Securities 14-Apr-17 A Member of the TA Group News In Brief Economy Asia China 's Economic picture Brightens as Trade Beats Forecasts, Trump Softens Tone China's 2017 export outlook brightened considerably on Thursday as it reported forecastbeating trade growth in March and as U.S. President Donald Trump softened his anti-China rhetoric in an abrupt policy shift. Washington's improving ties with Beijing were underscored when Trump told the Wall Street Journal in an interview on Wednesday that he would not declare China a currency manipulator as he had pledged to do on his first day in office. The comments were an about-face from Trump's campaign promises, which had rattled China and other Asian exporters, and came days after his first meeting with President Xi Jinping where he pressed China to help rein in North Korea. China's exports rose at the fastest pace in a little more than two years in March, climbing 16.4 percent from a year earlier in a further sign that global demand is improving, the customs office reported on Thursday. Import growth remained strong at 20.3 percent, driven by the country's voracious appetite for oil, copper, iron ore, coal and soybeans, whose volumes all surged from February despite worries about rising inventories. China's crude oil imports hit a record high of nearly 9.2 million barrels per day, overtaking the United States. China reported a trade surplus of $23.93 billion for March. (Reuters) Singapore Keeps Monetary Policy Unchanged Singapore central bank kept its monetary policy unchanged on Thursday as policymakers said the neutral stance is appropriate to ensure price stability. The Monetary Authority of Singapore said it will maintain the rate of appreciation of the S$NEER policy band at zero percent. The width of the policy band and the level at which it is centered will be unchanged, the bank said. As indicated in the October meeting, policymakers observed that a neutral policy stance is appropriate for an extended period and should ensure mediumterm price stability. The MAS applies the exchange rate against a basket of currencies within an undisclosed band as its monetary policy tool. The central bank holds monetary policy meeting twice a year. MAS core inflation was forecast to rise gradually, largely on account of higher global oil prices. Core inflation is projected to average 1-2 percent this year, while overall consumer price inflation is forecast to rise to 0.5-1.5 percent. Over the medium term, core inflation is expected to trend towards but average slightly below 2 percent. The city-state economy should expand by 1-3 percent in 2017, not markedly different from the growth of 2 percent in 2016, the bank said. (RTT News) Singapore's GDP Growth Eases to 2.5% in Q1: Flash Data Singapore's economy grew a slightly lower-than-expected 2.5 per cent in the first quarter of 2017 from a year earlier, easing from the 2.9 per cent growth in the previous quarter, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Thursday (April 13). Economists polled by Bloomberg had tipped that gross domestic product (GDP) would expand by 2.6 per cent on a year-on-year basis. While growth is slower than the 2.9 per cent expansion seen in the fourth quarter of 2016, the pace is still at the higher end of the Government's full-year forecast of 1-3 per cent for this year, and the 2016 full-year growth rate of 2.0 per cent. Compared to the previous quarter, GDP shrank 1.9 per cent, a bit more than the 1.8 per cent median forecast of Bloomberg analysts. The manufacturing sector expanded by 6.6 per cent year on year in the first quarter, moderating from the 11.5 per cent growth in the previous quarter. (The Straits Times) High Yield Bond Issuance in Asia at Robust Levels, Says Moody's Moody's Investors Service says high yield bond issuance in Asia has returned to robust levels, giving rise to stronger liquidity profiles and manageable levels of refinancing risk. "During Q1 2017, 26 deals totaling US$10bil were launched to record the highest level of issuance since US$12.3bil in Q1 2013, driven by investor tolerance for lower credit quality and active refinancing by issuers," says Annalisa DiChiara, a Moody's Vice President and Senior Credit Officer. "Currently, we believe that refinancing risk will remain manageable, assuming the continued absence of any exogenous shocks, and the market is well positioned to absorb upcoming maturities which total US$127bil in rated and unrated Page 4 of 6
7. TA Securities 14-Apr-17 A Member of the TA Group bonds from now through to 2021 ," says DiChiara. Moody's conclusions are contained in a just-released report, "Asian High Yield Interest Chartbook, Q1 2017 (Non-financial Corporates)". Moody's will also hold a briefing on the report on April 19. (The Star) Australia Jobless Rate Unchanged at 5.9%; 60,900 Jobs Added The unemployment rate in Australia was steady at a seasonally adjusted 5.9 percent in March, the Australian Bureau of Statistics said on Thursday. That was in line with estimates and unchanged from the February reading. The Australian economy added 60,900 jobs last month to 12,059,600 - shattering expectations for a gain of 20,000 following the loss of 6,400 jobs in the previous month. Full-time employment increased 74,500 to 8,238,600 and part-time employment decreased 13,600 to 3,821,000. "We have seen strengthening in fulltime growth over recent months, following falls in full-time employment recorded through much of 2016" said the Acting General Manager of ABS' Macroeconomic Statistics Division, Jacqui Jones. Unemployment increased 4,000 to 753,100. The number of unemployed persons looking for full-time work increased 2,900 to 528,600 and the number of unemployed persons only looking for part-time work increased 1,100 to 224,500. The participation rate climbed to 64.8 percent - beating forecasts for 64.6 percent, which would have been unchanged. Monthly hours worked in all jobs increased 3.2 million hours to 1,664.2 million hours. (RTT News) World Bank Sees Broadly Positive Outlook For Developing East Asia Growth in developing East Asia remains resilient and the outlook for the region is broadly positive, the World Bank said in its East Asia Pacific Economic Update, released Thursday. The Washington-based lender forecast the economies of developing East Asia and Pacific to expand at 6.2 percent this year before slowing slightly to 6.1 percent in 2018. The growth is forecast to be driven by strong domestic demand. This trend will also be underpinned by gradually rising demand for exports, the lender noted. China's growth is projected to continue easing steadily, to 6.5 percent this year and 6.3 percent in 2018-19. The moderation in growth reflects the impact of the government's measures to reduce excess capacity and credit expansion, the bank observed. In the short term, the World Bank said policy makers should prioritize measures that counteract global risks threatening the availability and cost of external finance, as well as export growth. The lender observed that the global environment and domestic vulnerabilities still pose risks to the region's prospects. (RTT News) U.S. U.S. Consumer Sentiment Climbs on Upbeat Assessment of Economy Consumer sentiment advanced to a three-month high in April as Americans’ optimism about their current financial situation and the economy reached the strongest point since 2000, University of Michigan survey data showed Thursday. Preliminary sentiment index rose to 98 (forecast was 96.5) from 96.9 in March. Current conditions gauge, which measures Americans’ perceptions of their personal finances, increased to 115.2, the highest since November 2000, from 113.2 the prior month. Expectations measure improved in April to 86.9 from 86.5. Americans have kept up a solid run of optimism, supported by a labor market that’s still humming and confidence that growth-boosting policies will take shape under the Trump administration. Some 52 percent of respondents to the Michigan survey reported that their finances had recently improved, the highest share since 2000. The more favorable assessment reflected higher incomes and wealth, as well as low prices. The report hinted that households would respond to greater optimism by making big purchases. Perceptions of favorable conditions for purchases of durable goods were cited by 82 percent of respondents, the largest share since 2005. Nevertheless, the university’s expectations measure remains divided along party lines, as 69 percent of Republicans cited favorable news about employment and economic policies, compared with only 28 percent among Democrats. (Bloomberg) U.K. U.K. Lenders Make It Harder to Borrow Money After BOE Warnings Britain’s major banks are making it tougher for consumers to get unsecured credit, which may slow the pace of lending that the Bank of England has identified as a risk to financial stability. In its Credit Conditions survey, the BOE said its measure of the availability of Page 5 of 6
8. TA Securities 14-Apr-17 A Member of the TA Group unsecured credit fell to minus 6 .6 in the first quarter, to first time it dropped below zero since 2012. The measure for the next three months declined to a level that would represent the tightest availability since just after the collapse of Lehman Brothers in 2008. Lenders in the BOE survey -- including Barclays Plc, HSBC Holdings Plc and Royal Bank of Scotland Group Plc -- said the decrease was mainly driven by tighter credit-scoring criteria. The central bank has identified consumer credit growth as a financial-stability risk, with an annual expansion rate of more than 10 percent in recent months. In its analysis last month, the BOE highlighted interest-free periods on credit-card balance transfers and an increase in maximum loan limits in some parts of the unsecured personal loan market, and said it plans to review underwriting standards. (Bloomberg) Europe German March Inflation Unrevised at 4-month Low Germany's consumer price inflation was unchanged at a four-month low in March, final figures from Destatis confirmed Thursday. The consumer price index rose 1.6 percent yearon-year following 2.2 percent surge in February. The inflation figure was the weakest since November. On a month-on-month basis, the CPI climbed 0.2 percent after a 0.6 percent rise in February. Inflation based on the EU measure of the harmonized index of consumer prices dropped to 1.5 percent from 2.2 percent. The European Central Bank aims to keep harmonized inflation 'below, but close to 2 percent'. Compared to the previous month, the HICP edged up 0.1 percent in March. All figures were unchanged from their initial estimates released on March 30. Energy price inflation slowed sharply to 5.1 percent in March from 7.2 percent in February. Food price inflation eased to 2.3 percent from 4.4 percent. (RTT News) Share Buy-Back: 13 April 2017 Company AMPROP FITTERS GRANFLO TEXCHEM UNIMECH Bought Back Price (RM) Hi/Lo (RM) 20,000 160,000 10,000 1,000 20,000 0.83/0.82 0.41 0.23 1.45 1.07 0.84/0.815 0.415/0.405 0.23/0.225 1.47/1.43 1.08/1.07 Total Treasury Shares 13,097,800 17,331,600 6,103,900 2,534,200 6,204,610 Source: Bursa Malaysia 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. liability for any direct or indirect loss arising from the use of this document. the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 6 of 6 We accept no We, our associates, directors, employees may have an interest in
9. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company AUTOMOBILE BAUTO MBMR UMW Share Price (RM) 13-Apr-17 2.11 2.50 5.99 Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 2.36 2.04 5.12 0.98 0.55 1.21 10.8 22.7 17.7 15.8 23.8 27.6 19.6 11.0 33.9 13.4 10.5 21.7 5.6 3.6 1.8 7.5 3.6 3.0 2.44 2.70 7.00 -13.5 -7.4 -14.4 1.95 1.95 4.43 8.2 28.2 35.2 -0.9 16.8 31.1 4.10 3.40 5.40 6.10 15.80 9.20 22.10 4.70 8.50 1.26 0.93 1.27 1.32 0.66 0.93 0.80 1.27 0.70 35.8 29.4 46.4 50.6 101.3 73.7 136.6 49.0 36.4 37.7 33.1 50.6 55.6 109.8 82.8 140.4 51.7 38.2 11.1 9.6 10.6 10.6 13.5 12.2 14.6 10.4 26.4 10.5 8.5 9.7 9.7 12.5 10.8 14.2 9.9 25.1 3.8 2.8 3.3 3.8 3.0 5.6 2.8 2.4 3.5 3.8 2.8 3.7 4.1 3.0 5.6 2.9 2.4 3.5 4.32 2.92 5.03 5.83 14.00 9.18 20.28 5.39 10.00 -7.9 -3.4 -2.6 -7.7 -2.1 -2.4 -1.7 -5.6 -4.0 3.60 2.08 3.90 4.11 12.70 7.50 18.52 4.43 8.20 10.6 35.6 25.6 30.8 7.9 19.5 7.7 14.9 17.1 7.0 18.0 13.7 19.3 1.5 9.3 1.1 8.1 8.5 0.46 1.27 5.10 3.46 0.73 1.85 2.00 5.99 0.49 1.45 5.49 3.27 0.58 1.90 1.50 5.58 0.81 0.70 1.04 1.09 1.15 na 1.02 0.13 5.9 12.8 31.6 16.8 9.6 12.6 12.8 44.3 5.9 13.1 36.4 20.9 9.9 12.5 12.7 45.8 7.7 9.9 16.1 20.6 7.5 14.6 15.6 13.5 7.7 9.7 14.0 16.5 7.4 14.7 15.7 13.1 0.0 2.2 2.4 2.7 1.4 3.0 1.5 4.2 2.2 2.2 2.4 2.7 1.4 3.0 1.5 4.2 0.51 1.35 5.33 3.61 0.75 1.87 2.14 6.13 -10.8 -6.1 -4.3 -4.2 -3.3 -1.1 -6.5 -2.3 0.36 0.78 4.59 3.07 0.41 1.42 1.41 5.02 26.4 62.8 11.1 12.7 79.0 30.3 41.8 19.3 4.6 21.0 6.7 8.1 26.1 8.8 15.6 1.9 1.98 2.00 0.47 15.4 15.6 12.8 12.7 5.1 5.1 2.40 -17.5 1.93 2.6 -1.5 14.98 17.94 15.41 21.08 0.57 0.58 69.6 93.1 77.5 21.5 101.9 19.3 19.3 17.6 4.6 4.7 5.2 5.1 15.20 18.74 -1.4 -4.3 12.38 14.22 21.0 26.2 7.6 9.5 2.40 7.54 23.90 81.20 2.96 1.79 4.66 0.97 2.23 9.59 26.14 83.60 3.76 2.74 4.17 1.10 0.46 0.33 0.34 0.38 0.47 0.69 0.46 0.56 6.5 35.9 102.6 288.8 22.3 25.1 12.7 9.3 7.5 40.5 124.5 313.3 24.7 25.3 15.8 12.8 36.9 21.0 23.3 28.1 13.3 7.1 36.7 10.4 31.8 18.6 19.2 25.9 12.0 7.1 29.6 7.6 0.8 4.0 2.6 3.5 5.1 4.5 1.0 5.2 0.9 5.0 3.1 3.8 5.7 4.5 1.1 5.2 3.00 9.53 27.00 81.98 3.08 2.04 4.72 1.07 -20.0 -20.9 -11.5 -1.0 -3.9 -12.3 -1.3 -9.6 2.11 7.30 20.10 74.12 1.92 1.43 4.14 0.78 13.7 3.3 18.9 9.6 54.4 25.2 12.5 23.7 -6.6 2.9 1.8 3.8 16.1 3.5 7.6 21.4 46.90 54.22 1.02 271.1 271.8 17.3 17.3 5.6 5.6 55.64 -15.7 40.31 16.4 6.2 9.36 5.68 10.34 6.10 1.34 1.26 45.0 25.7 50.9 27.9 20.8 22.1 18.4 20.4 0.5 1.4 0.6 1.6 9.90 5.81 -5.5 -2.2 7.50 4.17 24.8 36.1 17.8 25.7 2.84 0.12 3.81 0.10 0.72 1.27 22.1 0.2 24.6 0.3 12.8 53.3 11.5 39.7 5.6 0.0 6.7 0.0 3.42 0.13 -17.0 -7.7 2.84 0.05 0.0 140.0 -4.1 140.0 6.08 4.00 6.40 4.61 0.78 0.50 13.9 13.3 17.9 16.5 43.7 30.0 33.9 24.3 0.7 1.5 0.7 1.9 6.79 4.37 -10.5 -8.5 5.78 3.85 5.2 3.9 -4.3 -4.3 4.90 6.19 1.98 4.90 2.09 4.50 6.80 1.90 5.05 2.55 0.55 0.11 0.36 -0.21 0.29 18.2 35.8 16.2 26.6 4.3 21.2 40.5 18.2 30.2 7.1 27.0 17.3 12.3 18.4 48.7 23.1 15.3 10.9 16.2 29.6 1.7 2.9 2.4 2.7 0.5 2.0 3.3 2.8 3.1 0.8 5.03 7.07 2.88 5.45 2.68 -2.6 -12.4 -31.3 -10.1 -22.0 3.81 5.90 1.94 4.20 1.96 28.6 4.9 2.1 16.7 6.6 1.4 -6.1 -6.2 -8.4 -11.4 INDUSTRIAL SCIENTX SKPRES 7.90 1.28 8.50 1.75 0.54 0.50 75.3 8.8 83.0 13.7 10.5 14.5 9.5 9.4 2.7 3.4 3.0 5.3 8.01 1.44 -1.4 -11.1 5.75 1.12 37.4 14.3 17.9 -0.8 MEDIA ASTRO MEDIA PRIMA STAR 2.67 1.20 2.38 3.20 0.85 1.95 1.03 0.68 0.59 13.3 7.7 15.0 14.5 8.0 15.8 20.1 15.5 15.9 18.4 15.1 15.0 4.7 5.2 7.6 4.9 5.3 7.6 3.01 1.52 2.70 -11.3 -21.1 -11.9 2.56 1.00 2.20 4.3 20.0 8.2 2.7 4.3 6.3 OIL & GAS EATECH MHB MISC PANTECH PCHEM SENERGY UMWOG UZMA 0.65 1.01 7.39 0.62 7.75 2.06 0.64 1.97 0.45 0.96 8.16 0.52 7.91 2.02 0.54 1.40 0.90 1.78 0.85 1.25 1.13 2.43 1.95 1.38 11.5 -0.4 50.6 3.7 34.7 5.2 -14.7 11.3 11.9 1.1 57.1 4.3 39.3 7.8 -12.4 12.2 5.6 na 14.6 16.5 22.3 39.3 na 17.5 5.4 90.5 12.9 14.3 19.7 26.4 na 16.1 0.0 0.0 4.1 2.4 2.5 0.5 0.0 0.0 0.0 0.0 4.1 2.8 2.5 0.5 0.0 0.0 1.20 1.34 9.00 0.64 7.80 2.10 1.04 2.04 -45.8 -24.6 -17.9 -3.1 -0.6 -1.9 -38.5 -3.4 0.45 0.84 6.88 0.44 5.95 1.29 0.61 1.30 46.1 20.2 7.4 41.4 30.3 59.7 5.8 51.5 4.8 10.4 0.5 38.2 11.0 27.2 -26.9 15.9 BANKS & FINANCIAL SERVICES AFG 3.98 AFFIN 2.82 AMBANK 4.90 CIMB 5.38 HLBANK 13.70 MAYBANK 8.96 PBBANK 19.94 5.09 RHBBANK BURSA 9.60 CONSTRUCTION BPURI GADANG GAMUDA IJM SENDAI SUNCON WCT LITRAK Building Materials WTHORSE CONSUMER Brewery CARLSBG HEIM Retail AEON AMWAY F&N NESTLE PADINI POHUAT QL SIGN Tobacco BAT GAMING Casino GENTING GENM NFO BJTOTO LUSTER HEALTHCARE Hospitals IHH KPJ Rubber Gloves HARTA KOSSAN SUPERMX TOPGLOV KAREX
10. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price (RM) PLANTATIONS FGV IJMPLNT IOICORP KLK SIME UMCCA Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 2.02 3.14 4.40 24.10 9.28 6.22 1.53 3.88 3.93 22.75 8.24 7.52 1.75 0.44 1.06 0.94 1.26 0.50 6.3 13.7 18.7 111.8 30.8 32.7 11.1 15.7 21.1 119.1 35.3 34.5 31.8 22.9 23.5 21.6 30.2 19.0 18.2 20.0 20.9 20.2 26.3 18.0 2.5 2.2 2.3 2.3 2.4 2.6 2.5 2.5 2.7 2.4 3.0 2.7 2.52 3.70 4.81 25.50 9.55 6.51 -19.8 -15.1 -8.5 -5.5 -2.8 -4.5 1.31 3.10 4.07 22.62 7.10 5.53 54.2 1.3 8.1 6.5 30.7 12.5 30.3 -7.6 0.0 0.4 14.6 3.7 0.72 1.08 0.95 2.04 1.49 0.83 3.55 3.30 0.69 1.09 1.00 2.10 1.60 0.80 3.82 3.40 0.65 0.63 0.34 0.91 0.69 0.30 0.67 0.49 3.4 20.0 7.3 14.7 14.5 6.4 27.7 31.2 7.0 17.4 11.2 15.3 12.5 9.7 24.5 33.3 20.7 5.4 13.1 13.9 10.3 13.0 12.8 10.6 10.2 6.2 8.5 13.3 11.9 8.5 14.5 9.9 5.6 3.7 3.7 3.4 4.0 1.2 3.9 3.6 5.6 3.2 4.2 3.7 3.7 1.2 3.9 3.6 0.83 1.43 1.08 2.46 1.70 1.00 3.63 3.32 -13.9 -24.6 -12.0 -17.1 -12.4 -17.5 -2.2 -0.6 0.68 1.05 0.91 1.85 1.34 0.69 2.80 2.84 5.1 2.9 4.4 10.4 11.2 19.6 26.8 16.1 2.9 -4.4 -5.0 4.6 4.2 3.1 13.4 10.0 1.70 1.59 1.79 1.78 0.53 0.61 8.9 8.1 10.1 8.5 19.2 19.7 16.8 18.7 5.2 5.7 5.9 5.9 1.84 1.72 -7.6 -7.6 1.57 1.43 8.3 11.2 -1.2 3.9 POWER & UTILITIES MALAKOF PETDAG PETGAS TENAGA YTLPOWR 1.23 24.16 19.56 13.74 1.52 1.45 20.19 19.64 17.19 1.81 0.71 0.77 0.78 1.02 0.59 6.9 98.4 89.4 133.8 8.8 8.3 102.3 91.6 132.7 10.6 17.8 24.6 21.9 10.3 17.4 14.9 23.6 21.4 10.4 14.4 5.7 3.0 3.2 4.2 6.6 4.7 3.1 3.3 2.9 6.6 1.80 25.70 22.66 14.90 1.64 -31.7 -6.0 -13.7 -7.8 -7.3 1.14 22.16 19.56 13.00 1.38 7.9 9.0 0.0 5.7 10.1 -10.2 1.5 -8.2 -1.2 2.0 TELECOMMUNICATIONS AXIATA DIGI MAXIS TM 5.13 5.10 6.42 6.39 5.25 4.90 5.95 6.95 1.27 0.97 0.72 0.68 17.0 20.8 25.1 21.4 17.9 21.1 25.4 22.3 30.2 24.5 25.6 29.8 28.6 24.2 25.2 28.7 1.7 4.1 3.1 3.0 1.7 4.1 3.1 3.1 5.99 5.19 6.49 6.90 -14.4 -1.7 -1.1 -7.4 4.11 4.31 5.36 5.81 24.8 18.3 19.8 10.0 8.7 5.6 7.4 7.4 TECHNOLOGY Semiconductor & Electronics IRIS 0.17 INARI 1.97 MPI 11.22 UNISEM 3.04 0.14 2.35 12.00 3.55 1.32 0.75 0.46 0.78 -1.1 10.4 84.3 26.9 0.8 12.4 96.6 29.1 na 19.0 13.3 11.3 20.5 15.9 11.6 10.5 0.0 2.1 2.0 3.9 0.0 2.5 2.0 3.9 0.24 2.13 12.22 3.30 -29.2 -7.5 -8.2 -7.9 0.10 1.28 6.86 2.12 70.0 53.6 63.6 43.4 54.5 18.7 51.4 28.8 3.07 7.23 3.02 7.68 1.17 1.45 40.3 9.8 41.9 10.2 7.6 73.5 7.3 71.1 1.3 1.4 1.6 1.4 3.30 7.31 -7.0 -1.1 1.88 5.76 63.3 25.5 34.1 19.3 1.80 4.05 1.88 4.51 0.84 0.68 15.4 19.3 21.5 17.4 11.7 21.0 8.4 23.3 3.1 3.6 3.9 3.2 1.87 4.59 -3.7 -11.8 1.23 3.74 46.3 8.3 13.2 -5.8 PROPERTY GLOMAC HUAYANG IBRACO IOIPG MAHSING SNTORIA SPSETIA SUNWAY REIT SUNREIT CMMT TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WPRTS SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE Company Share Price (S$) BANKS & FINANCIAL SERVICES DBS 19.09 OCBC 9.68 UOB 21.89 PLANTATIONS WILMAR IFAR 3.51 0.49 Target Price Beta (S$) EPS (cent) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52week 52week FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 16.70 8.50 19.40 1.21 1.12 1.08 173.8 87.8 195.7 190.2 11.0 92.5 11.0 209.4 11.2 10.0 10.5 10.5 3.1 5.7 3.2 3.1 6.7 3.2 19.4 9.8 22.2 -1.7 -1.0 -1.2 14.63 8.84 17.41 30.5 17.9 25.7 10.1 8.5 7.3 3.45 0.51 0.91 1.10 28.9 3.9 31.1 4.3 11.3 11.5 2.3 2.0 2.6 2.1 4.0 0.6 -12.3 -17.6 2.96 0.44 18.6 11.4 -2.2 -6.7 12.1 12.5 BUY : Total return within the next 12 months exceeds required rate of return by 5%-point. HOLD : Total return within the next 12 months exceeds required rate of return by between 0-5%-point. SELL : Total return is lower than the required rate of return. Total Return is defined as expected share price appreciation plus gross dividend over the next 12 months. Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium.
11. TA Securities A Member of the TA Group SECTOR REPORT Friday , April 14, 2017 FBM KLCI: 1,738.18 Sector: Finance MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Banking Sector Vibrant Debt Capital Market Activities Envisaged; FinTech Hogs Limelight at Forum THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Team Coverage Tel: +603-2167 9610 liwong@ta.com.my Forum highlights We attended IFN Forum earlier this week. Having the opportunity to listen to industry captains from various industries such as banking, asset management and FinTech, we believe that amid the macro challenges, the financial industry is set for exciting changes on the technology front. We also foresee plenty of opportunities to grow earnings in underserved markets and the shift towards technology to achieve greater operational. Nevertheless, challenges abound with banks and regulators working to keep cybercrimes at bay and competition created by unregulated payments and robo-advisory companies could potentially erode fee income. Business wise, investment bankers foresee a vibrant year for debt capital market activities. Vibrant capital market activities Despite a volatile year in 2016, the private and public sectors raised RM85.3bn and RM87.4bn in debt securities respectively. Industry experts foresee a vibrant year for capital market activities in 2017. Supported by ample liquidity in the system, new debt issuances continue to be oversubscribed by local financial institutions as well as government linked funds. Local investors have demonstrated resilience and healthy appetite to absorb the gap left by recent capital outflows. Sectors underpinning the issuance of debt securities include construction, power, energy and transportation. IB players to benefit We foresee industry players with strong IB presence such as Maybank, CIMB, AMMB and RHB Bank to benefit from a rise in the debt capital market activities. The more stable MYR/USD environment and expectations of further interest rate hikes in the near future could create urgency for corporates to go to the debt capital market. The healthy demand for debt raising activities could however, dampen demand for business loans, which we forecast would grow at a softer pace of 4.7% YoY, lower than a growth of 5.1% in 2016. Driven by constraints due to the regulator’s tight capital and liquidity requirements, we understand that it would be expensive for banks to able to finance long term loans beyond 10 years. Via the sukuk market, corporates are issuing debt securities of up to 2030 years. Industry players remain upbeat of Malaysia’s resilience Concerns over global risk due to uncertainties over Trump policies and European elections will have impact on emerging markets. However, industry players continue to foresee a challenging 2H 2017 but noted that Malaysia remains resilient, supported by ample demand and supply. Challenges for the sukuk market include the ability to get new issuers from other sectors to come into the market, standardisation of a sukuk framework as well as the ability to innovate on existing products. Page 1 of 3 TA Research Team Coverage
12. TA Securities 14-Apr-17 A Member of the TA Group Industry ’s transforming via technology The forum also highlighted how the financial industry is transforming with technology. Depending on whether banks are fast to adopt these changes, the emergence of FinTech companies could erode the traditional banks market share especially in areas of payment, settlement, investments and SME financing. According to Bank Negara Malaysia (BNM), there is a RM21.8bn gap in financing for small and medium enterprises (SMEs). This gap can be filled by alternative financing, such as crowdfunding, peer-to-peer lending, factoring and leasing. Opportunities and challenges abound through FinTech As the industry continues to evolve, industry players envisage that banks will increasingly embrace technology to grow their business and tap on the efficiency technology can offer to lower operational costs. For instance, the use of mobile and digital banking could increase touchpoints yet allow banks to rely less and probably scale back on branch presence. In addition to reducing costs, fee income could increase. However, the presence of FinTech could also erode the bank’s competitiveness in the areas providing financial planning and portfolio management. We note an increasing number of robo-advisors - online wealth management service that provides automated, algorithmbased portfolio management advice without the use of expensive human financial planners. More banks to embrace changes on the technology front Going forward, we foresee more Malaysian banks embrace technology to improve. Earlier this week, CIMB Group announced the set-up of a new unit, CIMB FinTech, which is a standalone unit that will actively explore new, innovative banking solutions. The bank also announced the impending appointment of Olivier Crespin as the Chief FinTech Officer whose successes include the introduction of India’s first completely paperless, signatureless, branchless mobile banking, based on biometrics and artificial intelligence. OVERWEIGHT stance maintained on the Banking Sector For now, we maintain our OVERWEIGHT stance on the banking sector. Projecting stronger sector earnings growth of 6.9% and 8.5% for CY17 and CY18, we foresee healthier earnings visibilities for the banking sector. In addition to sustained loan expansion, steadier margins and benign asset quality - expectations of a more vibrant debt securities market and higher fee income from increased M&A activities and efforts by BNM to accelerate the migration to e-payment could lead to better topline growth. Elsewhere, the banking system’s capital buffers remained ample with CET1 and Total Capital Ratio of 13.1% and 16.9%. The liquidity coverage ratio (LCR) stood at a healthy 128%. BUY maintained on Public Bank, Hong Leong, AMMB, CIMB and Affin. Reiterate HOLD on Maybank and AFG, and SELL on RHB Bank. Table 1: Peers comparison Ma yba nk CIMB Publ i c Ba nk Hong Leong AMMB RHB Bank Al l ia nce Affin Simple average Price (RM) 8.96 5.38 19.94 13.70 TP (RM) 9.20 6.10 22.10 15.80 HOLD BUY BUY BUY 4.90 5.09 3.98 2.82 5.40 4.70 4.10 3.40 BUY SELL HOLD BUY Mkt Cap RM mil 91,331.1 47,712.0 76,998.3 28,115.1 Net Profit FY17 FY18 (sen) (sen) 7,517.4 8,440.7 4,486.3 4,933.4 5,272.9 5,421.8 2,077.9 2,253.7 Profit growth FY17 FY18 (%) (%) 11.5 12.3 25.9 10.0 1.3 2.8 9.2 8.5 FY17 (x) 12.1 10.6 14.6 13.5 FY18 (x) 10.8 9.7 14.2 12.5 14,769.6 20,410.9 6,069.1 5,479.0 36,360.6 1,399.4 1,963.5 546.1 570.9 2,979.3 7.5 16.8 4.6 1.2 10.9 10.6 10.4 11.1 9.6 11.6 9.7 9.9 10.5 8.5 10.7 Page 2 of 3 1,524.8 2,071.7 575.4 644.1 3,233.2 9.0 5.5 5.4 12.8 8.5 PER
13. TA Securities 14-Apr-17 A Member of the TA Group P /BV Ma yba nk CIMB Publ i c Ba nk Hong Leong AMMB RHB Ca p Al li a nce Affi n Simple average FY17 (x) 1.2 1.0 2.1 1.2 0.9 0.9 1.2 0.8 1.2 ROE FY18 (x) 1.1 0.9 1.9 1.2 0.9 0.8 1.1 0.7 1.1 FY17 (%) 10.7 9.7 14.8 9.5 8.9 8.7 11.3 7.3 10.1 ROA FY18 (%) 11.3 10.1 13.9 9.8 9.1 8.6 11.1 8.8 10.3 FY17 (%) 1.0 0.9 1.4 1.1 1.0 0.8 1.0 0.8 1.0 DPS FY18 (%) 1.1 0.9 1.3 1.1 1.1 0.8 1.0 0.9 1.0 FY17 (sen) 50.0 20.2 56.0 41.0 16.0 12.0 15.0 8.0 27.3 FY18 (sen) 50.0 22.3 58.0 41.0 18.0 12.0 15.0 8.0 28.0 Div yield FY17 FY18 (%) (%) 5.6% 5.6% 3.8% 4.1% 2.8% 2.9% 3.0% 3.0% 3.3% 3.7% 2.4% 2.4% 3.8% 3.8% 2.8% 2.8% 3.4% 3.5% Source: TA Research, Bursa M alaysia, B loomberg Sector Recommendation Guideline OVERWEIGHT: The industry, as per our coverage universe, is expected to outperform the FBMKLCI over the next 12 months. NEUTRAL: The industry, as per our coverage universe, is expected to perform in line with the FBMKLCI over the next 12 months. UNDERWEIGHT: The industry, as per our coverage universe, is expected to underperform the FBMKLCI over the next 12 months. 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(14948-M) (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 3 of 3
14. Friday , 14 April, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED LOCAL TECHNICAL REPORTS’ Local Technical Reports 1. Daily Technical Stock Picks 2. Daily Stock Screen 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 (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
15. T e c h n i c a l TA Securities V i e w Friday , April 14, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Technical Stock Picks Malaysia FBM KLCI: 1,738.18 (-5.90, -0.34%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Name FBMKLCI AFFIN AFG AMBANK AXIATA CIMB DIGI GAMUDA GENTING GENM IHH IOICORP MALAKOFF MAXIS MAYBANK MBSB RHBBANK SIME TENAGA TM WPRTS AIRASIA AIRASIA X ARMADA BINAPURI CMSB DIALOG ECO WORLD GADANG HSL ISKANDAR KIMLUN KKBE MUDAJAYA MRCB NAIM SAPURA ENERGY SUNCON UEMS WASEONG WCT Close 13-Apr 1738.18 2.82 3.98 4.90 5.13 5.38 5.10 5.10 9.36 5.68 6.08 4.40 1.23 6.42 8.96 1.18 5.09 9.28 13.74 6.39 4.05 3.07 0.40 0.78 0.46 4.32 1.82 1.50 1.27 1.67 2.93 2.24 1.35 1.08 1.66 1.60 2.06 1.85 1.22 0.89 2.00 Change (5.90) -0.03 -0.03 0.01 -0.06 -0.09 0.00 -0.02 -0.15 0.13 0.04 -0.10 -0.03 0.01 -0.02 -0.04 -0.05 -0.02 0.02 0.00 -0.01 0.02 -0.01 -0.02 -0.01 0.00 -0.03 0.00 -0.03 -0.01 -0.10 0.00 -0.01 -0.02 -0.04 -0.01 -0.01 0.00 -0.03 -0.02 0.00 Tel: +603-2167-9607 High Low 1,743.34 1,735.69 2.86 4.01 4.94 5.15 5.47 5.12 5.12 9.50 5.70 6.15 4.50 1.27 6.43 8.99 1.22 5.14 9.31 13.78 6.41 4.12 3.08 0.40 0.80 0.46 4.32 1.85 1.51 1.30 1.67 3.06 2.25 1.36 1.11 1.69 1.63 2.07 1.86 1.24 0.90 2.04 2.82 3.98 4.85 5.09 5.33 5.07 5.07 9.33 5.53 6.02 4.39 1.23 6.38 8.92 1.17 5.09 9.26 13.70 6.32 4.04 3.02 0.40 0.78 0.45 4.30 1.81 1.48 1.26 1.67 2.93 2.24 1.35 1.08 1.62 1.58 2.05 1.83 1.21 0.89 1.99 Bollinger Bands Lower Mid Upper 1,735.35 1,745.29 1,755.22 2.82 3.98 4.73 4.93 5.41 5.07 5.06 9.24 5.38 5.96 4.47 1.14 6.33 8.90 1.18 5.11 9.22 13.68 6.32 3.91 2.79 0.39 0.71 0.43 4.20 1.63 1.47 1.23 1.66 2.41 2.17 1.19 0.87 1.54 1.47 1.77 1.72 1.22 0.87 1.76 2.87 4.08 4.85 5.05 5.56 5.12 5.19 9.58 5.55 6.01 4.64 1.21 6.40 8.97 1.24 5.24 9.34 13.73 6.39 4.03 3.01 0.40 0.76 0.45 4.29 1.76 1.52 1.28 1.68 2.80 2.22 1.28 1.04 1.67 1.55 1.94 1.80 1.27 0.89 1.95 2.91 4.18 4.98 5.18 5.71 5.18 5.32 9.92 5.73 6.05 4.80 1.29 6.47 9.03 1.31 5.37 9.46 13.78 6.45 4.15 3.22 0.41 0.81 0.46 4.38 1.88 1.57 1.33 1.71 3.18 2.27 1.37 1.21 1.81 1.63 2.10 1.87 1.32 0.91 2.15 stsoo@ta.com.my RSI Moving Averages 14d 10d 30d 50d 51.86 1,741.63 1,737.65 1,722.62 DMI DI + DI - ADX 25.51 18.72 29.56 49.81 43.24 55.94 59.06 41.76 48.84 46.82 47.51 62.01 59.72 28.96 51.34 54.62 58.09 39.78 41.31 51.36 54.11 56.71 51.45 59.74 46.00 57.15 55.11 56.59 62.27 47.32 51.61 44.83 66.52 54.71 65.81 58.16 52.60 59.15 64.03 64.68 45.10 51.50 56.44 17.06 12.42 20.99 28.73 19.80 14.79 17.51 16.87 26.81 28.50 12.64 24.55 14.57 19.29 16.05 14.57 17.82 15.86 22.02 21.42 21.87 10.96 27.62 29.57 16.40 28.30 21.74 27.37 16.83 38.52 28.40 39.16 38.16 29.35 31.79 30.18 22.00 18.40 28.44 23.69 2.86 4.06 4.85 5.06 5.50 5.10 5.17 9.45 5.52 6.02 4.58 1.25 6.40 8.97 1.24 5.20 9.31 13.73 6.39 4.07 3.08 0.40 0.78 0.45 4.31 1.81 1.52 1.30 1.68 2.98 2.24 1.31 1.11 1.73 1.57 2.00 1.82 1.27 0.89 2.04 2.86 4.06 4.87 4.94 5.51 5.11 5.13 9.53 5.48 5.98 4.66 1.21 6.40 8.91 1.22 5.22 9.27 13.72 6.36 4.00 2.94 0.40 0.75 0.45 4.25 1.73 1.51 1.27 1.69 2.54 2.23 1.27 0.99 1.62 1.54 1.93 1.77 1.25 0.88 1.92 2.71 3.99 4.76 4.88 5.33 5.09 5.05 9.22 5.34 6.05 4.65 1.22 6.37 8.70 1.19 5.14 9.20 13.64 6.26 4.04 2.83 0.40 0.73 0.45 4.24 1.67 1.51 1.20 1.69 1.97 2.20 1.30 0.95 1.56 1.58 1.90 1.76 1.21 0.88 1.91 19.80 21.71 17.73 14.26 26.60 22.37 22.07 16.39 14.29 13.76 34.85 15.20 15.47 19.49 26.41 25.59 21.07 17.95 18.11 20.80 12.70 13.30 12.10 14.67 18.08 15.26 14.65 17.57 21.84 16.37 14.30 17.18 15.73 18.23 12.86 14.05 11.00 17.75 17.22 22.58 31.96 22.49 19.57 22.30 29.71 18.46 16.25 34.00 28.73 13.52 18.68 32.06 11.20 19.87 30.34 15.65 10.94 17.86 27.24 23.74 31.17 16.53 32.58 26.87 12.61 46.85 30.54 41.18 12.82 51.77 23.78 26.21 44.10 58.05 25.27 25.71 31.90 34.61 24.05 20.68 www.taonline.com.my Diff 6.79 (2.74) (9.29) 3.26 14.47 (6.80) (7.58) (4.55) 0.48 12.52 14.74 (22.21) 9.35 (0.90) (0.20) (10.36) (11.02) (3.25) (2.09) 3.91 0.62 9.18 (2.33) 14.90 (1.68) 13.05 13.05 7.09 9.80 (5.01) 22.16 14.10 21.97 22.43 11.12 18.93 16.14 11.00 0.65 11.22 1.12 Line 4.99 0.03 0.01 0.03 0.08 0.03 0.00 0.03 0.02 0.06 0.00 -0.04 0.00 0.01 0.07 0.01 0.01 0.04 0.01 0.03 0.01 0.07 0.00 0.02 0.00 0.03 0.05 0.00 0.03 0.00 0.28 0.01 0.02 0.05 0.05 0.01 0.05 0.03 0.01 0.01 0.04 MACD Signal Diff 7.63 (2.645) 0.05 0.03 0.03 0.08 0.07 0.01 0.05 0.08 0.07 -0.01 -0.02 0.01 0.02 0.09 0.02 0.03 0.06 0.02 0.04 0.01 0.09 0.00 0.02 0.00 0.03 0.04 0.01 0.03 0.00 0.32 0.01 0.01 0.05 0.06 0.00 0.03 0.02 0.02 0.01 0.04 (0.016) (0.021) (0.001) 0.003 (0.039) (0.008) (0.023) (0.059) (0.011) 0.013 (0.028) (0.006) (0.007) (0.019) (0.012) (0.023) (0.019) (0.005) (0.011) 0.002 (0.011) (0.000) 0.001 0.002 0.000 0.005 (0.006) (0.006) (0.001) (0.037) 0.002 0.014 0.002 (0.009) 0.012 0.018 0.006 (0.011) 0.001 0.002 DMI MACD Recent Signal BUY SELL DMI MACD Signal Change - SELL SELL BUY BUY SELL SELL SELL BUY BUY BUY SELL BUY SELL SELL SELL SELL SELL SELL BUY BUY BUY SELL BUY SELL BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL SELL SELL SELL BUY BUY SELL SELL SELL BUY SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL SELL SELL SELL BUY SELL SELL BUY BUY BUY BUY SELL SELL SELL SELL BUY BUY BUY SELL BUY BUY BUY SELL BUY BUY - The table above is a compilation of actively traded stocks with some popular technical indicators. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30-day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average, and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 1 of 4
16. Technical Comments : Buy on Weakness AMMB & CIMB Any dips on AMMB would be attractive to accumulate for technical rebound towards the upper Bollinger band (RM4.98) or the peak of 19/10/15 (RM5.05), with stronger hurdles seen at RM5.32 and RM5.48, the 123.6% and 138.2%, Fibonacci Projection levels. Immediate support is found at the 38.2%FR (RM4.33). Further correction on CIMB towards the 61.8%FR (RM5.08), would aggravate oversold condition and spark technical rebound, with immediate upside seen at the peak of 20/03/17 (RM5.83) and 123.6%FR (RM6.28). A stronger support platform is at the 50%FR (RM4.85). AMMB Upper Middle RM4.90 (+0.01) BOLLINGER BANDS RM RM 4.98 4.85 10-day 30-day RM 4.73 50-day Lower DMI Recent Signal BUY 4.76 Recent Signal SELL Signal Change CIMB Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 4.85 RM 4.87 BOLLINGER BANDS RM RM RM DMI RM5.38 (-0.09) 5.71 5.56 5.41 SELL SELL SIMPLE MOVING AVERAGES RM 5.50 RM 5.51 RM 5.33 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 4
17. T e c h n i c a l TA Securities V i e w Friday , April 14, 2017 FBMKLCI: 1,738.18 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Stock Screen s Malaysia End Day Census of 13.04.2017 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Report Description: The Daily Stock Screen is a retail product which can be a very useful guide for momentum trading and trading ideas .The following list is derived from the screening of more than 1000 stocks currently listed on Bursa Malaysia to identify: the top 20 breakout, 20 breakdown, and 30 ‘potential’ breakout stocks which just climbed above the middle Bollinger band, with potential to appreciate toward the upper Bollinger band. [MIDDLE BOLLINGER RANGEBOUND] List of 30 Potential Breakout Stocks (Short-term BUY for upside toward Upper Bollinger Band or higher to TAKE PROFIT/SELL) No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Stock Name Price BORNEO OIL BHD TIGER SYNERGY BH BIO OSMO BHD NETX HOLDINGS BH WINTONI GROUP BH ASIAN PAC HLDGS NOVA MSC BHD OLYMPIA INDS BHD LUSTER INDUSTRIE DIGISTAR CORP JKG LAND BHD KEY ALLIANCE GRO SILVER RIDGE BIOALPHA HOLDING MQ TECHNOLOGY BH SYF RESOURCES BH YTL POWER INTL ASIA BIOENERGY T TENAGA NASIONAL VIZIONE HOLDINGS CUSCAPI BHD K-ONE TECHNOLOGY TECHNODEX BHD DPS RESOURCES BH TELEKOM MALAYSIA TADMAX RESOURCES KINSTEEL BHD KARYON INDUS BHD HO WAH GENTING GREEN PACKET BHD 0.19 0.06 0.10 0.04 0.05 0.20 0.11 0.16 0.12 0.22 0.13 0.07 0.26 0.26 0.06 0.58 1.52 0.06 13.74 0.13 0.29 0.24 0.17 0.11 6.39 0.47 0.07 0.28 0.07 0.34 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.18 0.04 0.08 0.02 0.03 0.16 0.08 0.13 0.11 0.19 0.11 0.04 0.19 0.24 0.05 0.55 1.49 0.05 13.68 0.11 0.23 0.20 0.15 0.10 6.32 0.45 0.05 0.24 0.06 0.29 0.18 0.05 0.09 0.03 0.04 0.19 0.10 0.16 0.12 0.21 0.12 0.06 0.26 0.26 0.06 0.57 1.52 0.06 13.73 0.13 0.28 0.23 0.16 0.10 6.39 0.47 0.06 0.28 0.06 0.33 0.19 0.06 0.10 0.05 0.05 0.21 0.11 0.18 0.13 0.22 0.13 0.09 0.33 0.28 0.06 0.60 1.54 0.06 13.78 0.14 0.32 0.26 0.17 0.11 6.45 0.49 0.07 0.31 0.07 0.37 55.40 56.07 60.29 61.98 55.94 55.88 62.59 58.33 58.52 58.11 53.97 55.08 52.44 53.74 59.74 50.56 54.17 53.89 54.11 54.14 57.84 56.91 52.93 54.94 56.71 56.46 68.19 57.01 52.87 59.40 0.19 0.05 0.09 0.04 0.04 0.20 0.10 0.16 0.12 0.21 0.12 0.07 0.28 0.26 0.06 0.57 1.52 0.06 13.73 0.13 0.28 0.24 0.16 0.11 6.39 0.47 0.06 0.29 0.07 0.34 0.18 0.05 0.08 0.03 0.05 0.18 0.09 0.14 0.11 0.20 0.12 0.06 0.24 0.26 0.05 0.58 1.51 0.06 13.72 0.12 0.26 0.21 0.16 0.10 6.36 0.45 0.05 0.26 0.06 0.32 0.18 0.05 0.07 0.03 0.05 0.17 0.09 0.13 0.10 0.19 0.13 0.05 0.21 0.24 0.05 0.60 1.50 0.06 13.64 0.12 0.24 0.20 0.15 0.09 6.26 0.43 0.05 0.25 0.06 0.30 Vol 110,435,000 73,030,500 52,719,600 41,761,700 30,363,100 28,173,500 27,783,600 26,035,700 25,533,500 24,002,400 16,681,900 15,317,200 13,137,700 11,420,600 9,922,600 9,571,800 9,145,900 8,818,300 8,051,600 7,747,000 6,940,100 6,417,000 6,373,700 6,144,700 5,628,300 5,480,000 5,433,200 5,217,600 4,667,000 4,438,300 20-day avg vol 58,823,150 16,036,030 14,182,050 23,594,850 3,421,570 7,846,310 7,335,515 54,181,260 35,013,770 18,426,180 20,106,470 22,832,720 9,624,890 14,194,830 14,961,020 2,229,245 5,343,935 4,982,755 8,556,560 24,846,820 13,475,270 5,017,490 6,860,170 3,729,785 5,796,865 9,200,920 4,268,955 6,328,675 24,233,300 16,196,260 Raw data sourced from Bloomberg *Note: To qualify in this list above, the first sorting criteria is stock price must have just climbed or stayed ABOVE the middle Bollinger Band, followed by a second criteria that trading volume for the day must be significantly strong. This is a good watch list for momentum traders looking for short-term BUY ideas, as they are laggards with good upside potential towards the upper Bollinger band or higher to TAKE PROFIT/SELL. Caveat: Some stocks may continue to stay range bound and trade sideways, hence traders should refer to their respective charts to spot accumulation (volume growth) or breakout patterns. INTERPRETATION OF TECHNICAL INDICATORS: Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The mediumterm trend is positive if share price stays above the 30-day, and negative if it remains below this average. 14-day RSI: A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30-day SMA should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day SMA is bearish and imply further near-term downside risk. Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders will buy on price breaks above the upper band, and sell when price breaks below the lower band. Alternatively, a sharp move that originates at one band tends to go all the way to the other band, a useful observation when projecting price targets. Page 1 of 2
18. TA Securities A Member of the TA Group *Note: To qualify in the breakout list below, the first sorting criteria is stock price must close ABOVE the upper Bollinger Band, followed by a second criteria that trading volume for the day must be significantly higher than the 20-day average volume, which signal a bullish breakout. Caveat: We would caution momentum traders that a highly overbought 14-day RSI reading (> 80) and share price pullback BELOW the upper Bollinger Band are early warning signals to exit buy breakout trades. [UPPER BOLLINGER BREAKOUT] Top 20 Breakout Stocks (Generally BULLISH, but can be short-term TAKE PROFIT/SELL guide) No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Stock Name Price HARRISONS HLDGS WATTA HLDG BHD MTD ACPI ENG BHD TURBO EITA RESOURCES MCLEAN TECHNOLOG ANCOM BHD GUAN CHONG BHD BREM HLDG BHD ANCOM LOGISTICS SKB SHUTTERS LION DIVERSIFIED UZMA BHD DAYANG ENTERPRIS SCIENTEX BHD PWORTH XOX BHD GREEN OCEAN CORP YKGI HOLDINGS BH 3.67 0.42 0.40 0.95 1.96 0.23 0.54 1.03 0.95 0.12 1.04 0.06 1.97 1.15 7.90 0.25 0.12 0.14 0.27 6.08 IHH HEALTHCARE B Raw data sourced from Bloomberg 20 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 3.27 0.35 0.36 0.70 1.27 0.17 0.41 0.86 0.84 0.10 0.65 0.04 1.71 0.92 7.08 0.16 0.10 0.08 0.22 5.96 3.43 0.38 0.38 0.81 1.58 0.19 0.47 0.93 0.89 0.11 0.82 0.05 1.83 1.02 7.46 0.20 0.10 0.11 0.24 6.01 3.59 0.42 0.39 0.92 1.89 0.21 0.53 1.00 0.94 0.12 0.98 0.06 1.94 1.13 7.84 0.24 0.11 0.13 0.26 6.05 69.40 66.13 66.43 72.52 82.21 72.40 76.28 70.18 76.24 69.88 75.30 60.53 70.94 71.55 75.48 75.24 61.88 74.68 64.59 59.72 3.49 0.40 0.38 0.85 1.68 0.19 0.49 0.95 0.91 0.11 0.87 0.05 1.86 1.05 7.57 0.21 0.10 0.12 0.24 6.02 3.40 0.38 0.38 0.81 1.49 0.19 0.45 0.94 0.88 0.10 0.78 0.05 1.82 1.03 7.43 0.19 0.10 0.10 0.23 5.98 3.37 0.38 0.38 0.80 1.38 0.17 0.42 0.99 0.85 0.10 0.72 0.05 1.79 1.04 7.31 0.16 0.10 0.10 0.24 6.05 Vol 175,000 611,700 2,958,300 191,000 6,561,700 1,651,300 2,833,700 1,445,100 1,323,600 4,715,900 30,300 8,194,700 816,600 10,097,800 992,600 165,523,400 67,789,200 10,597,800 3,667,700 10,516,800 20-day avg vol 16,455 63,260 431,395 29,060 1,043,295 294,050 631,615 331,150 339,110 1,232,035 8,195 2,283,230 234,875 3,055,055 307,550 51,555,030 23,448,930 4,533,800 1,639,125 4,895,450 *Note: As for the top 20 breakdown list below, the sole sorting criteria is stock price must close significantly BELOW the lower Bollinger Band, with the largest distance from the lower band at the top of the table, signaling a severe sell-off which is bearish. Caveat: A stock should bottom out if share price moves ABOVE the falling lower Bollinger Band, which can be a good buy signal for technical rebound upside after the sharp sell-off. p [LOWER BOLLINGER BREAKDOWN] Top 20 Breakdown Stocks (Generally BEARISH, but can be short-term BUY guide) No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Stock Name Price KUALA LUMPUR KEP IOI CORP BHD UNITED PLANTATN SURIA CAPITAL GOODWAY INTEGRAT TA ANN HLDGS BHD SARAWAK OIL PALM SHH RESOURCES HL UMS HLDGS BHD SAMCHEM HOLDINGS CIMB GROUP HOLDI BATU KAWAN BHD COMPLETE LOGIST MUDA HOLDINGS WEIDA M BHD KECK SENG MALAYS RHB BANK BHD GENTING PLANTATI BERJAYA SPORTS PELIKAN INTERNAT 24.10 4.40 27.80 2.07 0.31 3.63 3.46 1.51 2.52 1.97 5.38 19.20 0.97 1.58 1.81 5.04 5.09 11.32 2.84 0.83 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 24.30 4.47 27.85 2.11 0.35 3.67 3.49 1.54 2.55 2.00 5.41 19.22 0.98 1.60 1.83 5.06 5.11 11.33 2.85 0.84 24.66 4.64 28.34 2.20 0.48 3.75 3.60 1.60 2.71 2.19 5.56 19.44 1.06 1.68 1.86 5.13 5.24 11.56 2.91 0.88 25.02 4.80 28.83 2.28 0.60 3.84 3.71 1.65 2.86 2.37 5.71 19.67 1.13 1.75 1.90 5.20 5.37 11.78 2.96 0.92 34.03 28.96 44.05 28.58 15.38 32.78 24.97 18.03 33.84 38.36 41.76 37.43 37.01 38.75 35.43 37.05 41.31 42.69 33.02 30.96 24.58 4.58 28.44 2.17 0.44 3.73 3.57 1.58 2.65 2.19 5.50 19.37 1.03 1.66 1.85 5.11 5.20 11.54 2.89 0.86 24.59 4.66 28.07 2.20 0.49 3.75 3.62 1.61 2.72 2.11 5.51 19.44 1.07 1.67 1.88 5.12 5.22 11.51 2.91 0.88 24.60 4.65 27.75 2.13 0.51 3.87 3.71 1.63 2.70 1.94 5.33 19.48 1.02 1.60 1.88 5.06 5.14 11.41 2.93 0.90 Vol 2,629,000 9,412,400 2,000 184,700 1,976,000 383,200 342,100 161,700 6,000 260,800 24,331,200 14,600 1,289,100 846,000 42,400 138,800 2,121,600 2,166,800 847,800 430,800 20-day avg vol 1,592,275 5,496,100 16,440 42,835 861,820 564,220 116,470 32,310 4,320 221,155 20,623,610 36,645 858,450 264,605 60,995 66,810 2,412,355 709,805 1,805,285 210,635 Raw data sourced from Bloomberg 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 (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
19. Friday , 14 April, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED FOREIGN TECHNICAL REPORTS’ Asian Technical Reports 1. Foreign Technical Stock Watch (AUS) 2. Foreign Technical Stock Watch (HK) 3. Foreign Technical Stock Watch (FSSTI) 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 (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research
20. T e c h n i c a l TA Securities V i e w Friday , April 14, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Foreign Technical Stock Watch Australia ASX: 5,889.95 (-44.01, -0.74%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Name ASX 200 BHP BILLITON RIO TINTO COMMONW BK AUSTR WESTPAC BANKING AUST AND NZ BANK NATL AUST BANK WESFARMERS WOODSIDE PETRO NEWCREST MINING WESTFIELD GROUP FORTESCUE METALS QBE INSURANCE ORIGIN ENERGY AMP SANTOS MACQUARIE GROUP SUNCORP GROUP ORICA OIL SEARCH COCA-COLA AMATIL AMCOR STOCKLAND ALUMINA COMPUTERSHARE QANTAS AIRWAYS SIMS METAL MGMT Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Close Bollinger Bands RSI Moving Averages DMI MACD Change High Low 13-Apr Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff Line Signal Diff 5889.95 -44.01 5934.00 5881.30 5693.09 5834.60 5976.11 58.63 5885.52 5809.41 5779.16 31.11 18.46 26.27 12.64 41.43 35.74 5.685 24.31 59.15 86.25 34.75 31.90 33.09 45.14 33.15 25.13 9.32 5.50 12.63 7.52 5.23 3.80 87.90 13.50 17.81 7.50 10.77 15.38 4.94 1.76 13.78 3.90 11.61 -1.01 -2.74 -0.43 -0.18 -0.23 -0.13 0.16 -0.70 0.13 0.24 -0.40 -0.23 0.00 -0.07 -0.04 -0.73 0.05 -0.26 -0.09 -0.01 0.08 0.06 -0.06 -0.12 -0.05 -0.71 24.47 59.77 86.50 34.84 32.13 33.15 45.29 33.68 25.33 9.35 5.59 12.77 7.55 5.29 3.82 88.49 13.51 18.08 7.53 10.80 15.42 4.95 1.78 13.87 3.94 12.04 24.21 58.75 86.00 34.55 31.83 32.95 44.87 33.00 24.85 9.07 5.42 12.55 7.46 5.23 3.72 87.16 13.35 17.76 7.38 10.72 15.23 4.89 1.74 13.33 3.89 11.56 23.32 58.59 82.69 33.50 30.84 31.60 43.25 30.27 21.21 8.42 5.68 12.57 6.41 4.90 3.62 86.62 12.77 17.30 6.75 10.27 14.46 4.42 1.73 13.57 3.79 11.92 24.45 60.68 85.11 34.54 31.65 32.69 44.43 32.13 23.19 8.85 6.21 12.84 7.03 5.12 3.77 88.51 13.15 17.72 7.21 10.61 15.02 4.67 1.79 13.92 3.91 12.45 25.58 62.77 87.53 35.57 32.46 33.79 45.61 33.98 25.17 9.27 6.74 13.11 7.64 5.35 3.91 90.40 13.53 18.15 7.67 10.94 15.58 4.91 1.85 14.27 4.02 12.98 45.92 41.70 58.72 54.18 55.59 57.39 62.06 62.13 79.50 74.65 29.47 45.02 74.42 59.92 51.34 47.70 60.60 48.43 66.21 60.60 70.08 76.30 42.72 46.78 54.39 34.30 24.67 60.67 85.83 34.73 31.76 32.99 44.75 32.87 23.92 9.02 6.09 12.87 7.26 5.22 3.80 88.80 13.16 17.72 7.40 10.73 15.19 4.76 1.79 14.00 3.93 12.32 24.51 60.68 84.73 34.57 31.65 32.67 44.19 31.75 22.60 8.77 6.27 12.83 6.83 5.08 3.72 88.40 13.22 17.94 7.12 10.54 14.78 4.65 1.82 13.93 3.86 12.51 25.09 62.76 84.17 34.06 31.06 32.18 43.39 31.67 22.69 8.84 6.46 12.70 6.87 5.07 3.79 87.42 13.26 18.19 7.09 10.36 14.67 4.61 1.86 13.68 3.72 12.39 29.40 24.80 25.95 27.10 24.52 27.51 23.95 35.55 41.81 37.66 12.83 24.02 41.32 26.44 25.61 20.29 27.59 23.65 29.10 23.58 26.84 35.74 21.01 16.07 19.68 19.30 27.32 36.20 17.39 24.94 21.58 19.94 18.58 20.46 10.82 10.29 43.62 27.21 13.41 11.58 26.62 26.01 20.80 21.13 18.62 15.12 15.95 9.18 26.74 26.92 19.79 34.33 15.03 15.39 16.04 14.85 16.45 18.72 18.08 28.44 29.61 31.05 28.51 15.67 31.30 23.88 15.01 10.64 14.18 16.80 25.96 23.97 23.25 30.36 10.33 18.95 21.78 12.60 2.08 (11.40) 8.56 2.16 2.93 7.57 5.37 15.09 30.99 27.38 (30.80) (3.18) 27.92 14.86 (1.01) (5.72) 6.79 2.52 10.48 8.46 10.89 26.56 (5.73) (10.84) (0.11) (15.03) 0.01 -0.39 0.60 0.17 0.19 0.24 0.41 0.57 0.72 0.10 -0.16 0.04 0.20 0.07 0.02 0.26 0.02 -0.08 0.14 0.12 0.21 0.08 -0.02 0.08 0.05 -0.09 -0.14 -0.55 0.54 0.20 0.21 0.25 0.43 0.39 0.48 0.05 -0.11 0.06 0.14 0.05 0.01 0.40 -0.04 -0.15 0.10 0.12 0.19 0.05 -0.02 0.11 0.07 -0.02 0.142 0.155 0.062 (0.027) (0.020) (0.017) (0.023) 0.174 0.243 0.047 (0.053) (0.021) 0.062 0.016 0.014 (0.138) 0.057 0.065 0.039 (0.002) 0.020 0.029 0.003 (0.037) (0.014) (0.064) DMI MACD DMI MACD Recent Signal Signal Change BUY BUY BUY BUY SELL BUY SELL BUY BUY BUY SELL BUY SELL BUY SELL BUY SELL BUY BUY BUY BUY BUY BUY SELL SELL SELL SELL SELL BUY BUY BUY BUY SELL BUY SELL SELL SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY SELL BUY SELL SELL SELL SELL SELL SELL SELL SELL - The table below consists of the top 30 ASX 200 Index component stocks, weighted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
21. TA Securities A Member of the TA Group INTERPRETATION OF TECHNICAL INDICATORS : Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Fundamentals of Foreign Technical Picks Bloomberg Ticker Stock Name BHP AU BHP BILLITON LTD RIO AU RIO TINTO LTD CBA AU COMMONW BK AUSTR WBC AU WESTPAC BANKING ANZ AU AUST AND NZ BANK NAB AU NATL AUST BANK WES AU WESFARMERS LTD WPL AU WOODSIDE PETRO NCM AU NEWCREST MINING WFD AU WESTFIELD GROUP FMG AU FORTESCUE METALS QBE AU QBE INSURANCE ORG AU ORIGIN ENERGY AMP AU AMP LTD STO AU SANTOS LTD MQG AU MACQUARIE GROUP SUN AU SUNCORP GROUP LT ORI AU ORICA LTD OSH AU OIL SEARCH LTD CCL AU COCA-COLA AMATIL AMC AU AMCOR LTD SGP AU STOCKLAND AWC AU ALUMINA LTD CPU AU COMPUTERSHARE LT QAN AU QANTAS AIRWAYS SGM AU SIMS METAL MGMT EPS ($) PER(x) Div Yield(%) Close Target Price % upside 24.31 27.82 13% 59.15 70.94 17% 4.65 3.39 9.7 13.2 4.555 3.386 86.25 84.06 -3% 5.64 5.84 15.3 14.8 4.917 5.060 34.75 34.01 -2% 2.41 2.51 14.4 13.9 5.364 5.355 31.90 31.20 -2% 2.39 2.43 13.3 13.1 5.066 33.09 32.42 -2% 2.41 2.47 13.7 13.4 45.14 43.46 -4% 2.61 2.63 17.3 33.15 32.87 -1% 1.27 1.45 25.13 22.97 -9% 0.74 9.32 9.48 2% 5.50 6.57 16% 12.63 13.64 7% 0.64 0.81 15.0 11.9 7.52 7.44 -1% 0.30 0.56 24.8 13.5 5.23 5.31 1% 0.36 0.37 14.7 14.0 3.80 4.40 14% 0.14 0.19 21.2 15.5 87.90 88.37 1% 6.16 6.36 14.3 13.50 13.77 2% 0.90 0.97 14.9 17.81 16.75 -6% 1.05 1.13 17.0 15.8 7.50 7.98 6% 0.21 0.25 27.0 22.9 10.77 9.92 -9% 0.57 0.60 18.8 18.1 15.38 15.97 4% 0.61 0.65 19.2 18.0 4.94 4.83 -2% 0.32 0.34 15.4 1.76 1.86 6% 0.11 0.10 13.78 13.82 0% 0.55 0.61 3.90 4.39 11% 0.53 11.61 12.42 7% 0.64 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 1.50 1.27 12.3 14.5 3.534 3.283 27.96 17.29 -2.99 69.80 41.51 -1.25 86.68 69.22 4.66 35.39 27.57 6.60 5.132 32.44 22.66 4.87 5.923 5.817 33.63 23.90 7.89 17.2 4.891 4.967 46.06 38.62 7.12 19.8 17.4 3.044 3.457 33.97 24.98 6.39 0.92 25.9 20.8 0.684 0.983 27.20 16.35 24.10 0.33 0.36 21.4 19.7 2.747 2.800 11.14 8.21 -0.64 0.85 0.50 4.9 8.4 5.800 3.509 7.27 2.81 -6.62 3.357 3.959 13.28 9.22 1.69 0.000 1.303 7.57 4.65 14.11 5.545 5.793 5.96 4.39 3.77 0.974 2.026 5.07 3.30 -5.47 13.8 4.834 5.046 90.93 61.05 0.90 13.9 5.385 5.815 13.95 11.27 -0.15 2.981 3.234 19.49 12.04 0.74 1.173 1.413 7.75 6.16 4.60 4.448 4.578 10.87 7.94 6.42 2.770 3.108 16.66 13.62 2.88 14.7 5.202 5.405 5.11 4.03 7.86 12.1 13.9 6.040 5.983 2.04 1.21 -4.10 19.1 17.2 1.901 2.032 14.33 8.63 10.59 0.53 7.40 7.37 3.769 4.615 4.08 2.58 17.12 0.73 18.3 16.0 3.299 3.394 13.62 7.40 -9.51 Note : The above data is based on Bloomberg consensus. 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 (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
22. T e c h n i c a l TA Securities V i e w Friday , April 14, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Foreign Technical Stock Watch Hong Kong HSI: 24,261.66 (-51.84, -0.21%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Stock Close Name 13-Apr HANG SENG 24,261.66 HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA GALAXY 63.35 84.50 6.26 5.02 9.43 23.05 3.71 119.30 5.69 230.60 194.20 94.80 42.35 6.37 18.08 81.75 3.29 31.55 156.10 15.78 75.85 20.75 67.35 23.30 68.50 5.27 50.05 5.94 4.13 10.64 31.45 6.11 44.65 13.46 19.44 9.94 22.75 22.70 14.52 3.89 10.94 11.00 8.49 2.71 2.40 49.85 37.25 43.25 Change High Tel: +603-2167 9607 Lower (51.84) (0.85) (0.35) 0.03 0.00 (0.02) (0.15) 0.00 1.60 0.01 (0.40) (1.00) (0.70) (0.15) (0.03) (0.08) (0.50) 0.00 (0.10) (2.10) (0.04) 1.05 0.10 0.10 0.00 (0.20) 0.11 0.25 (0.02) (0.05) 0.14 (0.30) 0.02 (0.15) 0.04 0.62 0.18 0.10 (0.25) 0.14 (0.05) 0.02 (0.04) 0.09 (0.02) 0.00 0.00 (0.10) (0.25) 24,378.38 24,158.16 63.95 84.80 6.30 5.07 9.47 23.30 3.75 119.50 5.73 233.80 195.20 95.00 42.60 6.43 18.22 82.10 3.30 31.70 157.90 15.84 76.60 20.90 67.90 23.65 68.65 5.30 50.10 5.97 4.19 10.74 31.90 6.13 44.80 13.54 19.54 10.04 22.95 23.10 14.52 3.95 11.30 11.04 8.49 2.73 2.41 50.00 37.35 43.25 63.35 84.20 6.19 4.99 9.35 22.80 3.68 117.10 5.65 228.80 193.10 94.35 42.00 6.33 18.04 81.55 3.28 31.25 155.90 15.70 74.90 20.25 66.40 23.00 68.15 5.07 49.15 5.90 4.10 10.44 31.45 6.05 44.45 13.32 18.72 9.66 22.15 22.50 14.24 3.84 10.86 10.94 8.32 2.70 2.38 49.45 36.95 42.90 RSI Bollinger Bands Low 24,085.65 62.65 82.98 6.17 4.97 8.92 22.74 3.64 112.73 5.62 220.76 192.88 94.62 42.16 5.94 16.88 79.26 3.11 31.48 156.16 15.02 75.63 20.07 65.77 21.46 66.31 4.92 46.28 5.87 3.91 9.96 31.55 6.00 42.13 13.28 17.28 9.53 21.06 21.52 13.78 3.66 10.91 10.84 8.27 2.59 2.31 49.09 34.24 39.92 Mid stsoo@ta.com.my Upper 14d 24,308.65 24,531.66 53.83 63.45 86.54 6.34 5.11 9.27 24.01 3.85 115.65 5.76 226.11 196.12 96.30 43.26 6.27 18.22 81.19 3.55 31.98 158.28 15.53 77.67 20.52 67.59 23.35 67.79 5.15 48.42 6.05 4.07 10.46 32.10 6.53 43.54 13.67 18.24 9.76 22.08 22.29 14.34 3.91 11.18 11.14 8.55 2.97 2.39 49.70 36.12 42.26 64.25 90.10 6.51 5.25 9.62 25.29 4.06 118.57 5.90 231.46 199.35 97.98 44.35 6.61 19.56 83.11 3.98 32.47 160.40 16.05 79.70 20.98 69.40 25.24 69.27 5.38 50.55 6.24 4.23 10.96 32.65 7.06 44.95 14.05 19.19 10.00 23.09 23.05 14.90 4.16 11.45 11.44 8.83 3.34 2.47 50.31 38.00 44.60 46.89 42.07 48.84 46.23 56.55 36.96 36.80 72.62 42.15 64.51 46.78 41.26 44.37 58.60 55.90 58.51 33.10 46.83 42.30 65.66 37.59 57.99 58.46 49.97 54.38 57.23 79.18 42.14 54.08 58.91 39.75 33.21 72.02 48.39 70.14 60.38 62.38 59.86 58.28 47.06 39.85 44.03 49.74 34.78 54.12 55.12 65.49 66.05 Moving Averages 10d 24,254.18 63.47 85.39 6.27 5.05 9.40 23.55 3.76 116.69 5.71 227.02 195.41 95.60 42.97 6.41 18.24 81.96 3.33 31.89 157.87 15.75 77.42 20.49 66.84 22.76 68.08 5.10 49.16 5.98 4.08 10.63 32.02 6.32 44.14 13.57 18.47 9.72 21.96 22.60 14.22 3.95 11.17 11.05 8.53 2.82 2.38 49.58 36.90 43.23 30d www.taonline.com.my DMI 50d DI + DMI MACD DI - ADX Diff Line Signal Diff MACD Recent Signal DMI MACD Signal Change 24,101.14 23,959.96 21.71 24.33 19.39 (2.62) 97.00 130.44 (33.440) SELL SELL - - 63.43 85.92 6.29 5.07 9.18 23.90 3.85 114.73 5.77 221.19 194.68 96.19 42.70 6.15 17.48 80.34 3.56 31.72 158.37 15.35 78.32 20.30 66.53 23.60 67.92 5.19 47.38 6.05 4.04 10.13 32.03 6.68 42.92 13.56 18.04 9.82 21.73 22.00 14.32 3.96 11.32 11.11 8.52 3.04 2.39 49.53 35.32 41.02 64.43 86.49 6.23 5.03 9.31 23.85 3.84 112.93 5.89 215.94 195.11 94.91 42.27 6.14 17.00 79.29 3.51 31.50 159.61 15.16 78.94 20.03 63.77 23.69 68.85 5.20 46.07 6.05 4.07 9.84 32.50 6.55 41.99 13.31 17.73 9.69 21.41 21.82 14.17 4.02 11.23 11.26 8.47 2.97 2.37 48.99 34.16 39.05 20.65 25.52 21.43 25.90 16.43 24.47 32.27 15.93 24.09 16.00 19.30 24.19 17.42 15.22 20.13 15.47 29.81 23.65 22.25 16.79 28.25 21.06 14.44 20.94 13.71 18.62 15.44 25.09 14.80 13.66 25.12 27.96 10.16 17.66 9.77 17.85 16.73 9.33 14.67 22.44 25.16 24.31 18.63 24.47 16.17 19.44 11.62 10.62 8.47 17.84 15.54 17.92 22.29 18.79 24.15 26.86 16.38 25.49 13.25 23.22 27.23 29.58 28.41 36.50 26.81 20.48 20.87 38.19 16.26 18.26 29.82 20.72 18.27 20.03 38.84 15.35 14.39 38.27 16.95 25.03 51.30 24.04 29.91 17.56 20.24 22.67 18.27 13.74 15.85 23.91 14.65 28.18 27.76 16.10 36.29 50.41 4.73 (8.92) (2.98) (6.16) 7.04 (9.31) (13.46) 10.47 (5.23) 15.12 (4.53) (11.63) 0.11 9.74 9.26 4.42 (15.70) (10.97) (12.75) 3.30 (12.76) 2.85 7.66 2.12 3.59 3.49 15.94 (10.06) 11.71 8.98 (12.42) (14.93) 19.40 (3.15) 27.59 9.20 12.37 13.02 8.61 (0.31) (2.61) (13.40) 0.68 (8.61) 13.87 0.30 12.36 13.27 -0.12 -0.42 0.00 -0.01 0.06 -0.17 -0.04 1.49 -0.05 3.88 0.10 -0.01 0.08 0.11 0.38 0.89 -0.08 0.09 -0.45 0.21 -0.71 0.19 0.72 -0.23 0.06 -0.02 1.11 -0.04 0.03 0.25 -0.15 -0.15 0.77 0.04 0.37 0.02 0.32 0.29 0.05 0.00 -0.06 -0.07 0.00 -0.09 0.01 0.18 0.88 1.29 -0.22 -0.18 0.02 0.01 0.03 -0.02 -0.02 1.28 -0.05 4.08 0.37 0.26 0.30 0.10 0.47 0.95 -0.05 0.19 -0.27 0.21 -0.45 0.22 1.07 -0.26 -0.14 -0.03 1.06 -0.02 0.01 0.28 -0.09 -0.09 0.73 0.10 0.28 0.01 0.26 0.27 0.04 -0.01 -0.02 -0.06 0.03 -0.05 0.00 0.22 0.83 1.37 0.103 (0.240) (0.022) (0.020) 0.032 (0.151) (0.024) 0.211 0.003 (0.193) (0.270) (0.273) (0.213) 0.007 (0.091) (0.063) (0.037) (0.103) (0.177) 0.006 (0.256) (0.024) (0.352) 0.039 0.201 0.008 0.049 (0.018) 0.016 (0.027) (0.057) (0.065) 0.041 (0.068) 0.091 0.007 0.060 0.012 0.015 0.010 (0.045) (0.005) (0.031) (0.044) 0.002 (0.037) 0.052 (0.084) BUY SELL SELL SELL BUY SELL SELL BUY SELL BUY SELL SELL BUY BUY BUY BUY SELL SELL SELL BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL SELL BUY SELL BUY BUY BUY BUY BUY SELL SELL SELL BUY SELL BUY BUY BUY BUY BUY SELL SELL SELL BUY SELL SELL BUY BUY SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL BUY SELL SELL SELL BUY BUY BUY BUY SELL BUY SELL SELL SELL BUY SELL BUY BUY BUY BUY BUY BUY SELL SELL SELL SELL BUY SELL BUY SELL BUY BUY BUY BUY SELL BUY - BUY BUY - 25.38 16.59 18.45 19.75 23.48 15.16 18.81 26.40 18.85 31.13 14.77 12.56 17.54 24.97 29.39 19.89 14.11 12.68 9.50 20.09 15.50 23.91 22.09 23.06 17.29 22.11 31.38 15.03 26.50 22.64 12.70 13.03 29.56 14.51 37.37 27.05 29.10 22.36 23.28 22.14 22.55 10.91 19.31 15.86 30.04 19.74 23.98 23.89 The table above consists of the 45 HKSE Hang Seng Index component stocks, sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
23. TA Securities A Member of the TA Group INTERPRETATION OF TECHNICAL INDICATORS : Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Fundamentals of Foreign Technical Picks Bloomberg Ticker 5 941 939 1398 883 2628 3988 16 857 700 388 1 2318 386 1088 2 494 2388 11 3 19 101 4 688 6 1880 12 3328 1898 762 23 330 66 83 291 17 1109 144 836 2600 293 267 1199 2038 678 1299 1928 27 HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK EPS ($) PER(x) Div Yield(%) 52week Price % Chg Stock Name Close Target Price % upside 2017 2018 2017 2018 2017 2018 High Low YTD HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA LTD GALAXY 63.35 62.70 -1% 0.6 0.6 13.8 12.6 0.8 0.8 69.10 44.50 1.77 84.50 106.47 21% 5.7 6.1 13.2 12.3 3.1 3.4 99.30 80.30 2.80 6.26 7.56 17% 0.9 1.0 5.9 5.6 4.6 4.8 6.55 4.50 4.86 5.02 6.10 18% 0.8 0.8 5.6 5.4 4.7 4.9 5.27 3.82 9.43 11.10 15% 0.6 0.8 N/A 10.7 3.5 3.7 10.88 8.70 -2.78 23.05 28.37 19% 0.9 1.1 22.2 18.4 1.4 1.6 25.50 16.00 14.11 3.71 4.48 17% 0.6 0.6 5.7 5.4 4.7 5.1 4.08 2.90 7.85 119.30 129.72 8% 8.8 9.5 13.6 12.6 3.4 3.5 123.30 85.40 21.73 0.3 0.4 19.7 12.8 1.9 3.0 6.38 7.96 5.69 7.00 19% 4.92 -1.56 230.60 257.43 10% 6.1 7.9 33.3 25.9 0.3 0.4 233.80 152.20 21.56 194.20 197.45 2% 5.7 6.3 34.2 30.8 2.6 2.9 213.20 175.00 6.00 94.80 114.23 17% 9.2 10.0 10.3 9.4 3.0 3.3 103.90 80.60 7.85 42.35 56.85 26% 3.7 4.1 10.2 9.2 1.7 1.8 32.50 9.15 6.37 7.36 13% 0.4 0.5 12.7 11.2 4.0 4.5 6.57 4.96 15.82 18.08 19.10 5% 1.6 1.5 10.3 10.7 3.2 3.2 19.78 11.40 23.84 81.75 79.60 -3% 5.0 5.2 16.2 15.7 3.5 3.6 84.35 69.65 14.74 3.29 3.16 -4% 0.0 0.0 15.1 13.7 0.8 0.8 5.15 3.24 -3.52 31.55 35.87 12% 2.7 2.9 11.8 10.9 4.3 4.5 32.55 21.01 13.69 156.10 154.53 -1% 9.2 10.1 4.3 164.40 127.60 8.18 15.78 12.92 -22% 0.6 0.6 26.4 25.3 2.4 2.5 15.92 12.95 14.85 75.85 77.17 2% 5.0 5.2 15.3 14.5 3.6 3.8 94.40 72.20 2.43 20.75 19.66 -6% 1.2 1.1 17.3 19.1 67.35 66.22 -2% 4.7 4.8 14.4 13.9 3.2 3.4 69.95 40.05 30.65 23.30 28.95 20% 3.2 3.6 7.2 6.4 3.6 4.2 27.85 20.15 13.38 68.50 74.22 8% 3.4 3.5 19.9 19.3 4.0 4.1 75.73 62.78 7.20 5.27 4.94 -7% 0.4 0.4 11.7 11.6 4.6 4.7 5.79 4.07 20.87 50.05 48.82 -3% 3.3 3.2 15.6 3.1 3.1 50.20 39.64 5.94 6.07 2% 0.9 0.9 5.9 5.6 4.6 4.8 6.44 4.46 5.88 4.13 4.67 12% 0.3 0.3 12.7 13.4 2.0 1.7 4.88 2.92 12.23 10.64 12.18 13% 0.2 0.4 41.0 22.8 0.8 1.4 11.20 7.70 17.83 31.45 25.91 14.3 17.8 3.0 2.6 34.75 26.35 16.9 15.2 15.4 4.0 3.6 3.6 44.95 20.95 13.64 26.22 21.33 -21% 2.2 1.8 6.11 5.89 -4% 0.0 0.2 N/A 38.0 0.0 1.2 7.62 5.34 0.33 44.65 39.58 -13% 1.6 1.6 28.2 27.3 7.4 2.5 44.80 35.55 18.44 13.46 13.86 3% 0.8 0.8 16.1 16.2 3.8 3.8 14.48 10.96 15.83 19.44 18.95 -3% 0.6 0.7 30.6 26.3 1.0 1.1 19.54 13.38 26.23 21.22 0.8 0.8 12.8 5.89 9.94 11.22 11% 12.1 4.4 4.4 10.46 6.91 22.75 28.28 20% 2.8 3.2 8.2 7.1 3.5 4.0 23.85 16.50 22.70 24.61 8% 1.6 1.7 14.0 13.6 3.3 3.5 24.95 18.80 17.98 14.52 15.03 3% 1.4 1.5 10.6 9.7 5.7 5.9 15.50 10.70 17.86 21.56 30.45 3.89 4.49 13% 0.2 0.2 17.3 15.9 0.3 0.5 4.45 2.25 10.94 9.91 -10% -0.1 0.2 N/A 45.8 0.5 0.7 13.50 10.00 7.25 11.00 12.35 11% 1.6 1.7 7.1 6.5 3.1 3.9 12.78 10.54 -0.90 8.49 9.10 7% 0.1 0.1 13.8 12.7 0.4 0.4 9.48 7.28 8.99 3.07 43.6 13.9 0.4 0.5 2.31 10.61 12% 0.0 0.0 2.40 2.45 2% 0.0 0.0 N/A N/A 0.0 0.0 2.88 2.00 49.85 2.71 56.81 12% 0.4 0.4 17.3 15.7 0.2 0.3 54.15 3.35 42.30 13.94 37.25 38.23 3% 0.2 0.2 24.7 22.2 0.7 0.7 39.30 24.60 10.53 43.25 44.02 2% 1.7 1.8 26.2 24.1 1.1 1.3 44.05 21.73 28.76 6.19 Note : The above data based on Bloomberg consensus. 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 (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
24. T e c h n i c a l TA Securities V i e w Friday , April 14, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 • Foreign Technical Stock Watch FSSTI: 3,169.24 (-16.77, -0.53%) Singapore THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Stock Name FSSTI SINGTEL DBS OCBC UOB JARDINE M. WILMAR HK LAND CAPLAND GENSP KEPPEL SGX SIA FNN NOBLE CITY DEV JARDINE S. SG PRESS JARDINE C&C GOLDEN AGRI SG TECH OLAM INT CAP TRUST SEMBCORP SEMCORP M. CMFT DELGRO STARHUB SIA ENG IFOOD AGRI YZJ Tel: +603-2167 9607 Close Bollinger Bands RSI Change High Low 13-Apr Lower Mid Upper 14d 3,169.24 (16.77) 3,176.63 3,160.28 3,124.91 3,165.34 3,205.76 54.27 3.77 19.09 9.68 21.89 65.47 3.51 7.85 3.68 1.10 6.91 7.53 10.17 2.35 0.18 10.42 41.50 3.46 45.62 0.37 3.75 1.91 2.01 3.14 1.85 2.62 2.89 3.67 0.49 1.16 (0.05) (0.16) (0.02) (0.15) (0.43) (0.01) 0.05 0.00 (0.01) (0.02) (0.05) (0.09) 0.04 (0.01) (0.06) (0.50) (0.06) (0.41) 0.00 0.02 (0.02) 0.00 (0.01) (0.02) 0.00 (0.02) (0.01) (0.01) 0.00 3.80 19.23 9.69 21.94 65.70 3.54 7.88 3.70 1.10 6.95 7.60 10.22 2.35 0.19 10.50 41.94 3.52 46.29 0.37 3.76 1.93 2.01 3.16 1.88 2.63 2.91 3.68 0.50 1.17 3.76 18.98 9.63 21.78 65.38 3.49 7.71 3.66 1.09 6.89 7.52 10.14 2.31 0.18 10.36 41.31 3.45 45.50 0.36 3.70 1.91 2.00 3.13 1.85 2.58 2.88 3.66 0.49 1.14 3.81 18.64 9.49 21.61 64.22 3.48 7.04 3.62 0.96 6.74 7.46 9.93 2.12 0.18 10.11 39.18 3.48 43.70 0.36 3.60 1.85 1.92 3.09 1.83 2.47 2.83 3.65 0.49 1.10 3.91 19.08 9.65 21.91 65.77 3.54 7.52 3.68 1.03 6.87 7.63 10.13 2.28 0.19 10.35 41.34 3.55 45.05 0.38 3.69 1.91 1.97 3.16 1.87 2.58 2.88 3.68 0.52 1.14 4.01 19.52 9.81 22.21 67.32 3.60 7.99 3.75 1.09 7.00 7.80 10.32 2.44 0.20 10.58 43.50 3.62 46.39 0.40 3.77 1.98 2.01 3.23 1.91 2.68 2.92 3.71 0.54 1.17 27.96 50.98 54.11 53.60 50.61 41.98 73.74 53.46 75.08 54.33 43.07 54.13 68.37 38.32 59.11 54.21 39.91 57.08 36.54 61.05 42.13 70.93 44.94 49.92 61.50 53.45 47.87 31.96 61.03 stsoo@ta.com.my Moving Averages 10d 30d 50d DI + 3,178.25 3,155.67 3,131.93 20.82 DI 22.12 ADX 15.04 MACD DMI MACD DMI MACD Diff Line Signal Diff Recent Signal Signal Change (1.30) 14.88 16.91 (2.034) SELL SELL SELL - 3.88 19.20 9.69 22.01 65.58 3.53 7.72 3.69 1.05 6.90 7.65 10.20 2.32 0.19 10.33 41.77 3.54 45.35 0.37 3.68 1.94 1.98 3.16 1.87 2.62 2.87 3.69 0.51 1.15 30.19 26.55 21.81 20.26 17.72 19.91 8.41 13.12 8.09 19.65 18.38 15.93 13.21 25.57 16.24 14.18 28.37 12.76 22.79 19.08 20.30 6.84 21.14 22.42 16.67 18.45 11.76 32.28 8.89 14.31 10.76 11.45 19.10 14.82 23.04 46.62 21.21 31.06 18.37 15.65 11.95 40.47 24.67 33.11 35.77 22.77 17.22 21.47 17.30 20.91 24.59 11.11 27.44 19.45 11.29 19.24 15.73 44.88 (16.79) (2.66) (2.17) (1.26) (0.50) (8.25) 23.83 4.62 24.64 6.33 1.79 2.31 24.27 (13.18) 12.66 12.84 (10.49) 10.69 (10.62) 10.52 (5.69) 16.52 (2.27) 6.35 4.33 2.34 0.56 (19.72) 15.14 3.92 19.08 9.62 21.79 65.71 3.56 7.34 3.67 1.01 6.87 7.59 10.07 2.22 0.20 10.23 40.76 3.53 44.74 0.38 3.68 1.93 1.95 3.18 1.89 2.55 2.87 3.69 0.52 1.13 3.92 18.94 9.60 21.52 64.80 3.67 7.14 3.61 1.00 6.76 7.58 9.99 2.17 0.20 9.91 39.77 3.51 43.70 0.39 3.62 1.98 1.96 3.18 1.78 2.51 2.85 3.67 0.53 1.04 13.40 23.89 19.64 19.00 17.21 11.67 32.24 17.74 32.73 25.98 20.16 18.24 37.48 12.39 28.91 27.02 17.89 23.45 12.18 29.60 14.61 23.36 18.87 28.77 20.99 20.79 12.32 12.57 24.03 DMI www.taonline.com.my -0.02 0.07 0.03 0.13 0.32 -0.04 0.20 0.02 0.02 0.04 0.01 0.06 0.05 -0.01 0.14 0.63 0.00 0.59 -0.01 0.02 -0.01 0.01 -0.01 0.02 0.04 0.00 0.00 -0.01 0.03 -0.01 0.09 0.04 0.15 0.39 -0.04 0.19 0.03 0.02 0.05 0.03 0.07 0.05 -0.01 0.15 0.75 0.01 0.56 -0.01 0.02 -0.01 0.01 -0.01 0.03 0.03 0.00 0.01 -0.01 0.03 (0.015) (0.014) (0.006) (0.027) (0.073) 0.004 0.013 (0.007) 0.008 (0.004) (0.020) (0.001) (0.003) (0.000) (0.018) (0.120) (0.011) 0.033 (0.001) (0.000) 0.006 0.006 (0.002) (0.011) 0.002 0.001 (0.004) (0.003) (0.006) SELL SELL SELL SELL SELL SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY SELL BUY SELL BUY SELL BUY BUY BUY BUY SELL BUY SELL SELL SELL SELL SELL SELL BUY BUY SELL BUY SELL SELL SELL - SELL SELL SELL SELL SELL SELL SELL BUY SELL SELL BUY BUY SELL SELL SELL BUY BUY SELL SELL SELL - The table above consists of the revamped 30 SGX FTSE Straits Times Index component stocks, sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
25. INTERPRETATION OF TECHNICAL INDICATORS : Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Fundamentals of Foreign Technical Picks Bloomberg Ticker ST DBS OCBC UOB JM WIL HKL CAPL GENS KEP SGX SIA FNN NOBL CIT JS SPH JCNC GGR STE OLAM CT SCI SMM CD STH SIE IFAR SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP SP Stock Name Close Target Price SINGTEL DBS OCBC UOB JARDINE M. WILMAR HK LAND CAPLAND GENSP KEPPEL SGX SIA FNN NOBLE CITY DEV JARDINE S. SG PRESS JARDINE C&C GOLDEN AGRI SG TECH OLAM INT CAP TRUST SEMBCORP SEMCORP M. CMFT DELGRO STARHUB SIA ENG IFOOD AGRI 3.77 4.21 19.09 9.68 YZJSGD SP YZJ % upside EPS ($) PER(x) Div Yield(%) 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 10% 0.2 0.3 15.6 14.7 4.7 4.9 4.36 3.59 3.29 19.44 2% 1.789 1.963 10.7 9.7 3.2 3.3 19.42 14.63 10.09 9.57 -1% 0.9 0.9 11.3 10.3 3.8 4.0 9.78 8.21 8.52 21.89 21.18 -3% 1.9 2.1 11.3 10.6 3.3 3.4 22.15 17.41 7.30 65.47 63.99 -0.02 4.1 4.4 16.0 14.9 2.4 2.5 67.27 52.42 18.50 3.51 3.86 9% 0.2 0.2 12.8 12.0 2.0 2.2 4.00 2.96 -2.23 7.85 7.43 -6% 0.4 0.4 20.0 19.3 2.5 2.5 7.88 5.79 24.01 3.68 4.08 10% 0.2 0.2 17.4 18.0 2.7 2.8 3.79 2.85 21.85 1.10 1.06 -3% 0.0 0.0 31.3 28.8 2.6 2.7 1.10 0.69 20.99 6.91 7.03 2% 0.5 0.6 13.6 12.5 3.2 3.5 7.23 5.10 19.34 7.53 7.94 5% 0.3 0.4 22.5 20.8 3.9 4.2 8.05 6.96 5.17 10.17 9.76 -4% 0.4 0.4 23.0 23.5 3.5 2.7 11.67 9.60 5.17 2.35 2.19 -7% 0.1 0.1 30.5 30.9 1.8 1.9 2.41 1.92 12.44 0.18 0.22 0.17 0.0 0.0 8.7 6.0 0.0 0.0 0.36 0.11 7.65 10.42 10.88 4% 0.6 0.7 16.4 15.2 1.4 1.4 10.65 7.86 25.85 41.50 41.25 -1% 2.8 3.0 15.0 14.0 0.8 0.8 43.78 27.35 25.00 3.46 3.18 -9% 0.2 0.2 22.9 22.9 4.9 4.7 4.13 3.45 -1.98 45.62 50.63 10% 2.2 2.5 14.7 13.3 1.9 2.1 46.38 31.60 10.65 0.37 0.38 5% 0.0 0.0 16.3 14.5 1.9 2.2 0.45 0.33 -15.12 3.75 3.68 -2% 0.2 0.2 21.7 20.6 4.1 4.2 3.78 3.01 16.10 1.91 1.99 4% 0.1 0.1 14.1 13.6 2.5 2.6 2.17 1.58 -3.05 2.01 2.13 6% 0.1 0.1 17.6 17.2 5.5 5.5 2.25 1.87 6.63 3.14 3.56 12% 0.2 0.3 13.2 10.9 2.9 3.3 3.38 2.44 10.18 1.85 1.66 -11% 0.1 0.1 34.9 26.8 1.5 1.7 2.09 1.22 34.06 2.62 2.94 11% 0.2 0.2 16.7 16.1 4.2 4.6 3.02 2.37 6.07 2.89 2.61 -11% 0.2 0.2 17.8 18.8 5.5 5.5 3.97 2.73 2.85 3.67 3.55 -3% 0.2 0.2 23.8 23.7 4.2 4.0 3.91 3.35 8.90 0.49 0.59 17% 427 500 10.9 9.3 15111 16908 0.60 0.44 -6.67 1.16 1.07 -8% 0.5 0.5 11.7 12.3 16.9 16.9 1.19 0.71 41.72 Note : The above data based on Bloomberg consensus. 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 (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2