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Bursa Malaysia Daily Market Report - 14 March

Mohd Noordin
By Mohd Noordin
5 years ago
Bursa Malaysia Daily Market Report - 14 March

Ard, Arif, Mal, Rub, Sales


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  1. Tuesday , 14 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED REPORTS’ News 1. Daily Market Commentary 2. Daily Brief Fundamental Reports 1. Malaysian Economy: Malaysia’s Industrial Output Moderates at the Start of the Year 2. Sunway Construction Group Berhad: Secured MRT Line 2 Station Works Package S01 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 Tuesday, 14 March 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (13.03.2017) Volume (mil) +/-chg (RMmn) Main Market 2,936.6 213.1 2,941.2 Warrants 257.0 -30.7 34.1 ACE Market 590.9 204.3 104.0 Bond 6.7 0.6 3.0 ETF 0.0 -0.04 0.0 Total 3,791.3 3,082.3 Off Market 171.1 149.3 108.6 Value +/-chg -143.8 3.1 28.3 1.7 -0.04 93.7 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP March Futures Other Markets DOW JONES NASDAQ (US) FTSE (UK) NIKKEI (JAPAN) KOSPI (KOREA) HANG SENG (HK) FSSTI (S'PORE) SET (BANGKOK) JCI (JAKARTA) SHANGHAI SHENZHEN AUSTRALIA (mn) 47.0 33.3 30.5 15.0 10.0 10.0 9.0 5.0 4.7 2.4 1.0 Up Down 349 359 70 77 49 55 5 4 0 2 473 497 % chg % YTD chg 1,721.92 12,170.25 16,564.45 1,733.50 4.34 34.63 41.10 8.00 0.25 0.29 0.25 0.46 4.88 6.14 12.56 5.99 20,881.48 5,875.78 7,367.08 19,633.75 2,117.59 23,829.67 3,147.15 1,535.51 5,409.37 3,237.02 2,029.89 5,757.35 -21.50 14.06 24.00 29.14 20.24 261.00 13.80 -4.40 18.70 24.26 16.25 -18.27 -0.10 0.24 0.33 0.15 0.97 1.11 0.44 -0.29 0.35 0.76 0.81 -0.32 5.66 9.15 3.14 2.72 4.50 8.31 9.25 -0.48 2.13 4.30 3.09 1.62 Top 10 KLCI Movers Based on Mkt Cap. Off Market BENALEC EKA TIGER OCR TADMAX ECONBHD SEG DIGISTA BHS LUSTER-WB AZRB Value/ Volume 1.00 0.13 0.18 0.45 1.14 0.81 0.63 @ @ @ @ @ @ @ @ @ @ @ (RM) 0.45 0.01 0.04 0.60 0.51 2.05 1.05 0.17 0.48 0.04 0.89 Counter Mkt Cap. (RM’mn) MAYBANK 89,701 TENAGA 77,889 PBBANK 76,689 MAXIS 48,292 CIMB 47,889 DIGI 39,964 PETGAS 39,021 GENTING 35,115 MISC 33,255 IOICORP 29,428 Chg (RM) 0.03 0.06 0.06 0.01 0.03 0.04 0.12 0.13 0.06 0.02 Vol. (mn) 11.66 9.98 5.26 4.57 16.42 6.29 0.30 2.47 0.35 4.40 Review & Outlook Bursa Malaysia shares edged higher on Monday, but profit-taking checked gains on weak oil prices and concerns over higher certainty for interest rate hike in the US this Wednesday. The KLCI rose 4.34 points to close at 1,721.92, off an opening low of 1,715.35 and high of 1,722.25, but losers edged gainers 497 to 473 on strong turnover of 3.78bn shares worth RM3.08bn. The local market should stay range bound, checked by profit-taking amid the weak oil price trend and caution over more certainty for a US interest rate hike mid-week. Immediate uptrend supports for the index are at 1,715, 1,703 and 1,687, representing the rising 10, 30 and 50-day moving averages. Key upside hurdles to overcome ahead are the recent high of 1,734, next at 1,744, the 3/8/15 peak, and 1,758, the 23.6%FR of the 1,310 to 1,896 upswing. Extreme overbought momentum on IWCB, with the 14-day RSI reading above 90, warrants a significant profit-taking correction to close most of the RM2.28-2.57 gap-up, with immediate retracement supports at the 200%FP (RM2.45), 176.4%FP (RM2.25) and 161.8%FP (RM2.12), and resistance from yesterday's high (RM2.93). Bearish technical momentum on WCT Holdings implies correction potential, with breakdown below the 76.4%FR (RM1.77) to grease slide towards the 200-day ma (RM1.70) or the 61.8%FR (RM1.64) before stalling. Key overhead resistance is from the 11/11/16 high (RM1.98). • • • • • • • • • Exchange Rate USD/MYR 4.4523 -0.0005 USD/JPY 114.54 -0.8300 EUR/USD 1.067 0.0064 Commodities Futures Palm Oil (RM/mt) 2,666.00 -57.00 Crude Oil ($/Barrel) 48.47 0.08 Gold ($/tr.oz.) 1,203.60 -0.90 Important Dates IOIPG - 1:4 Rights Issue - RI of up to 1,109.9m shares. 1 rights share for every 4 existing shares held, at an issue price of RM1.38 per rights share. Application Closed: 17/03/2017. LISTING ON: 31/03/2017. • • • • News Bites Malaysia's industrial output rose 3.5% in January from a year ago, underpinned by gains especially in the manufacturing sector, which was below Bloomberg's survey of a 5.3% increase. UEM Sunrise Bhd is selling 4.9 acres of land in British Columbia, Canada for C$113mn (RM372.6mn) under its strategy to focus on the domestic market in Malaysia and to shift its international business focus to Australia. According to sources, YTL Power's 45%-controlled Attarat Power Plant project in Jordan has secured funding from Chinese banks. The USD2.1bn oil shale-fuelled power plant will have a gross generation capacity of 554MW. Sasbadi Holdings Bhd's wholly-owned subsidiary has entered into two publishing agreements with Majlis Peperiksaan Malaysia for an exclusive licence to prepare, publish, print, distribute, market and sell the collections of past year question papers. BHS Industries Bhd, which is developing the Green Technology Park in Pekan, Pahang, has secured 31.54 acres from the Pahang state government to build a plant to supply power to the park. IOI Properties Group Bhd is aiming to start construction of an office development with an estimated GDV of at least SGD3.5bn at its newly acquired site in Central Boulevard, Singapore by the end of the year. Edaran Bhd has bagged a RM20.6mn data facility development contract from the Inland Revenue Board Of Malaysia. The conditional mandatory takeover offer that loss-making Tanco Holdings Bhd has received from its major shareholders have been deemed "not fair" but "reasonable" by independent adviser BDO Capital Consultants Sdn Bhd. Borneo Oil Bhd has proposed a bonus issue of 2.1bn shares on the basis of four bonus shares for every eight existing shares held and 528.1mn free warrants on the basis of one for eight. Salutica Bhd has obtained the green light from the Securities Commission Malaysia to transfer the listing of its shares to the local bourse's Main Market from the ACE Market currently. AppAsia Bhd has proposed to list several units on the Australian Securities Exchangeto raise of up to A$6mn. Shell Refining Co (Federation of Malaya) Bhd has changed its name to Hengyuan Refining Co Bhd and its shares will be traded and quoted under the new name with effect from 9am, March 15. U.S. Treasury Secretary Steven Mnuchin will push the world's top economies to abide by existing exchange-rate agreements and promote "open and fair" trade at a coming meeting of finance chiefs this week. 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 Tuesday , March 14, 2017 FBMKLCI: 1,721.92 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 p 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 Caution Over US Rate Hike to Cap Upside Bursa Malaysia shares edged higher on Monday, but profit-taking checked gains on weak oil prices and concerns over higher certainty for interest rate hike in the US this Wednesday. The KLCI rose 4.34 points to close at 1,721.92, off an opening low of 1,715.35 and high of 1,722.25, but losers edged gainers 497 to 473 on strong turnover of 3.78bn shares worth RM3.08bn. Uptrend Supports at 1,715/1,703 The local market should stay range bound, checked by profit-taking amid the weak oil price trend and caution over more certainty for a US interest rate hike mid-week. Immediate uptrend supports for the index are at 1,715, 1,703 and 1,687, representing the rising 10, 30 and 50-day moving averages. Key upside hurdles to overcome ahead are the recent high of 1,734, next at 1,744, the 3/8/15 peak, and 1,758, the 23.6%FR of the 1,310 to 1,896 upswing. Take Profit on IWCB & WCT Holdings Extreme overbought momentum on IWCB, with the 14-day RSI reading above 90, warrants a significant profit-taking correction to close most of the RM2.28-2.57 gap-up, with immediate retracement supports at the 200%FP (RM2.45), 176.4%FP (RM2.25) and 161.8%FP (RM2.12), and resistance from yesterday’s high (RM2.93). Bearish technical momentum on WCT Holdings implies correction potential, with breakdown below the 76.4%FR (RM1.77) to grease slide towards the 200-day ma (RM1.70) or the 61.8%FR (RM1.64) before stalling. Key overhead resistance is from the 11/11/16 high (RM1.98). Asian Markets Edge Higher Ahead of Central Bank Meetings Asian markets turned positive on Monday but traders remained wary ahead of a potential rate hike by the Federal Reserve this week. U.S. jobs data at the end of last week cleared the way for the Fed to raise interest rates on Wednesday without forcing it to accelerate the pace for future tightening. The Fed is scheduled to meet from March 14-15, with most market participants expecting the central bank to raise interest rates. Market expectations for a March rate hike stood at 88.6 percent, according to CME Group's Fed-Watch. The Bank of England, Swiss National Bank and Bank Indonesia are also expected to stand pat with policy decisions this week. On the oil front, prices skidded to 3-1/2-month lows after posting the biggest three-day loss in a year by Friday, as investors continued to flee bullish positions on worries that OPEC-led production cuts have not yet reduced a global glut. Japan's Nikkei share average ticked up to a 15-month closing high as investors picked up defensive shares while exporters were shunned due to the yen's gains, though volume was subdued ahead of key global events later this week. The Nikkei rose 0.2 percent to 19,633.75, its highest close since December 2015. The broader Topix rose 0.2 percent to 1,577.40, also a 15-month high. China stocks also posted their best gains in three weeks on Monday after a senior research official said over the weekend that the world's second-largest economy was on steadier footing. The blue-chip CSI300 index rose 0.9 percent to 3,458.10 points, while the Shanghai Composite Index gained 0.8 percent to 3,237.02. But Down Under, the ASX Page 1 of 6
  4. TA Securities 14-Mar-17 A Member of the TA Group 200 fell 0 .32 percent at 5,757.35, as losses of more than 1 percent in its energy sub-index weighed. Wall Street Ends Flat as Investors Await Fed Clues U.S. stocks ended little changed in light volume on Monday, with traders eyeing a Federal Reserve meeting expected to result in an interest rate increase later this week. The Fed is widely expected to raise borrowing costs Wednesday for the first time this year, with Fedfund futures tracked by CME Group pointing to a roughly 95 percent chance of a rate rise. Analysts said they would be focused on signals from the Fed on how aggressively it would move to hike rates later this year. Keeping risk sentiment subdued, U.S. crude oil futures for April delivery fell 0.2 percent, to USD48.40 a barrel, after losing 9 percent of their value last week. Prices have been dragged down by concerns that growth in U.S. oil production could foil OPEC’s plan to shift the market into a shortage. IBM had the greatest negative impact, while Disney contributed the most to gains. Intel also contributed to the Dow's losses. Shares of the chipmaker fell nearly 2.1 percent after announcing it will buy Israeli driverless technology firm Mobileye for $15.3 billion. Mobileye shares leaped 28.2 percent. The Dow Jones Industrial Average fell 21.5 points, or 0.1 percent, to 20,881.48, the S&P 500 gained 0.87 points, or 0.04 percent, to 2,373.47 and the Nasdaq Composite added 14.06 points, or 0.24 percent, to 5,875.78. Page 2 of 6
  5. TA Securities 14-Mar-17 A Member of the TA Group News In Brief Corporate UEM Sunrise Bhd is selling 4 .9 acres of land in British Columbia, Canada for C$113mn (RM372.6mn) under its strategy to focus on the domestic market in Malaysia and to shift its international business focus to Australia. UEM Sunrise said the purchase consideration reflected the prevailing market prices of similar properties in the vicinity. It explained the sale was to focus on Australia where the UEM Sunrise Group has two ongoing projects and a third project currently in the pipeline. (Bursa Malaysia / StarBiz) According to sources, YTL Power’s 45%-controlled Attarat Power Plant project in Jordan has secured funding from Chinese banks. It marks the final step in a long and arduous task for YTL Power to become a Jordanian independent power producer that began back in 2008 when the project was first mooted. The USD2.1bn (RM9.3bn) oil shale-fuelled power plant will have a gross generation capacity of 554MW. (The Edge) Sasbadi Holdings Bhd has entered into two publishing agreements with Majlis Peperiksaan Malaysia (MPM) through its wholly-owned subsidiary Sasbadi Sdn Bhd (SSB). Under the publishing agreements, MPM grants an exclusive licence to SSB to prepare, publish, print, distribute, market and sell the collections of past year question papers for Sijil Tinggi Persekolahan Malaysia (STPM) examination and Malaysian University English Test (MUET) as well as the reports on STPM examination and MUET for the examination years of 2017, 2018 and 2019. The publishing agreements are for a period of three years from Jan 1, 2017 to Dec 31, 2019, it said. (Bursa Malaysia / The Edge) BHS Industries Bhd, which is developing the Green Technology Park (GTP) in Pekan, Pahang, has secured 31.54 acres from the Pahang state government to build a plant to supply power to the park. BHS said the state government had approved the additional land in Kampung Paloh Hinai for its unit Ultimate Ivory Sdn Bhd at a price of RM873k. “The additional land is earmarked for construction of power generation project using solid waste,” BHS said, adding that details of the project were not available at this time as it was still at a preliminary stage. (Bursa Malaysia / StarBiz) IOI Properties Group Bhd is aiming to start construction of an office development with an estimated gross development value (GDV) of at least SGD3.5bn (RM11bn) at its newly acquired site in Central Boulevard, Singapore by the end of the year. (The Edge) Edaran Bhd has bagged a RM20.6mn data facility development contract from the Inland Revenue Board Of Malaysia (IRB). Edaran said its wholly-owned subsidiary Edaran IT Services Sdn Bhd has been awarded a tender for the supply, delivery, design, development, assembly, testing and maintenance of software, hardware and application for “Phase 1 Data Power output”. The contract will commence on Wednesday and expires on Sept 30, 2020. (Bursa Malaysia / The Edge) The conditional mandatory takeover offer that loss-making Tanco Holdings Bhd has received from its major shareholders have been deemed "not fair" but "reasonable" by independent adviser BDO Capital Consultants Sdn Bhd. In recommending that Tanco's shareholders reject the offer of 8.12 sen a share and RM1.624 per redeemable convertible note (RCN), it said its 'not fair' view outweighs the 'reasonable' view. (Bursa Malaysia / The Edge) Borneo Oil Bhd has proposed a bonus issue of 2.1bn shares on the basis of four bonus shares for every eight existing shares held and 528.1mn free warrants on the basis of one for eight. The proposed bonus issue of shares will be implemented concurrently with the proposed bonus issue of warrants. (Bursa Malaysia / The Edge) Page 3 of 6
  6. TA Securities 14-Mar-17 A Member of the TA Group Salutica Bhd has obtained the green light from the Securities Commission Malaysia (SC) to transfer the listing of its shares to the local bourse's Main Market from the ACE Market currently. This is barely a year since it was listed on the ACE Market on May 18, 2016. (Bursa Malaysia / The Edge) AppAsia Bhd has proposed to list several units on the Australian Securities Exchange (ASX) to raise of up to A$6mn (A$1 = RM3.41). AppAsia said, the proposed public issue was based on the issue price of 20 Australian cents per AppAsia Ltd (AL) share. (Bursa Malaysia / Bernama) Shell Refining Co (Federation of Malaya) Bhd (Shell Refining) has changed its name to Hengyuan Refining Co Bhd, effective March 15. As such, the company's shares will be traded and quoted under the new name and new stock short name "Hengyuan" with effect from 9am, March 15. (Bursa Malaysia / Bernama Page 4 of 6
  7. TA Securities 14-Mar-17 A Member of the TA Group News In Brief Economy Asia Malaysia Industrial Output Up 3 .5% in January Malaysia's industrial output rose 3.5% in January from a year ago, underpinned by gains especially in the manufacturing sector, which was below Bloomberg's survey of a 5.3% increase. The Statistics Department announced that the gain was supported a 4.6% increase in manufacturing, mining (+1.1%) and electricity (+1.1%). The department said the major sub-sectors which increased in January 2017 were: electrical and electronics products (6.9%); petroleum, chemical, rubber and plastic Products (2.3%); and food, beverages and tobacco (6.8%). However, the mining sector output grew at a slower pace of 1.1% in January 2017 after registering a higher growth of 5.8% in December 2016. The natural gas index increased by 5.3%. However, the crude oil index declined by 2.3%. The electricity sector output increased slightly by 1.1% in January 2017 after a significant growth of 6.1% in December 2016. Meanwhile, the sales value of the manufacturing sector in January 2017 recorded RM61.2bn, an increase of 10.7% (RM5.9bn) as compared to RM55.3bn a year ago. (Department of Statistics) Japan Core Machine Orders Fall 3.2% in January Core machine orders in Japan slipped a seasonally adjusted 3.2% on month in January, coming in at 837.9 billion yen. That missed expectations for a decline of 0.1% following the 2.1% increase in December. On a yearly basis, core machine orders tumbled 8.2% - again shy of forecasts for a decline of 3.7% following the 6.7% gain in the previous month. The total value of machine orders, which includes volatile ones for ships and electric power companies, fell 10.0% on month and gained 8.6% on year to 2,236.9 billion yen. Manufacturing orders shed 10.0% on month and 22.0% on year to 330.9 billion yen in January, while non-manufacturing orders added 0.7% on month and 5.7% on year to 507.6 billion yen. (RTT News) Japan Tertiary Activity Index Remains Flat Japan's tertiary activity index remained unchanged in January, after falling in the previous month, figures from the Ministry of Economy, Trade and Industry showed. The tertiary activity index showed no variations from December, when it dropped by 0.3%. Meanwhile, economists had expected a 0.1% slight rise for the month. Among the individual components of the survey, activity was up for business-related services, medical, health care and welfare, information and communications, retail trade, electricity, gas, heat supply and water, real estate, living and amusement-related services, goods rental and leasing. (RTT News) U.S. U.S. Treasury Secretary to Push G-20 on Currency Vows and Trade Policies U.S. Treasury Secretary Steven Mnuchin will push the world’s top economies to abide by existing exchange-rate agreements and promote “open and fair” trade at a coming meeting of finance chiefs this week, a senior Trump administration official said Monday. But the senior U.S. Treasury official, in a briefing ahead of a two-day Group-of-20 meeting starting Friday, stopped short of committing to past G-20 vows to “reject protectionism.” “We’re committed to open and fair trade and that means a trading system that has a level playing field for our firms and our workers globally,” the official said. The comments highlight two of the major points of contention within the group of 20 nations, which acts as an executive board for the global economy. Amid Trump administration threats to ramp up tariffs, sanction trade partners for perceived currency violations and a general disdain for multilateral organizations, many G-20 countries are worried Washington may be about to start a trade war. (The Wall Street Journal) Commodity Oil Steadies Below US$49 as US Drilling Threatens Longer Glut Oil steadied below US$49 a barrel as US drillers continued to boost activity, countering OPEC’s efforts to drain a global glut. Futures were little changed in New York after falling 9.1% last week, the biggest weekly loss since November. Rigs targeting crude in the US rose to the most since September 2015, crude production dropped 11% as clashes among rival Page 5 of 6
  8. TA Securities 14-Mar-17 A Member of the TA Group armed groups led to the closure of some of the OPEC nation ’s biggest oil-export terminals. Oil last week broke below the US$50 a barrel level it had held above since the Organization of Petroleum Exporting Countries and 11 other nations started trimming supply on Jan 1. US crude stockpiles have climbed to a record and production surged to the highest in more than a year, while Saudi Arabia’s Oil Minister Khalid Al-Falih said global supplies are falling slower than expected. West Texas Intermediate for April delivery lost as much as 59 cents to US$47.90 a barrel on the New York Mercantile Exchange and traded at US$48.42. Total volume traded was about 15% above the 100-day average. The contract dropped 79 cents to US$48.49 on Friday, capping the biggest weekly decline since November. (The Edge Markets) Share Buy-Back: 13 Mar 2017 Company BKAWAN FITTERS P&O SIGN TEXCHEM TNLOGIS Bought Back Price (RM) Hi/Lo (RM) 180,200 574,300 10,000 200,000 1,000 90,000 19.36/19.30 0.405/0.40 1.28/1.26 0.905/0.895 1.49 1.60/1.59 19.36/19.20 0.42/0.40 1.28/1.26 0.91/0.89 1.49 1.61/1.59 Total Treasury Shares 31,583,431 16,933,500 9,725,800 9,540,200 2,524,200 8,096,600 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. 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 6 of 6
  9. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company AUTOMOBILE BAUTO MBMR UMW Share Price (RM) 13-Mar-17 2.00 2.48 6.03 Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) FY17 FY18 52weeks 52weeks High Price % Chg Low Price % Chg % Chg YTD 2.41 2.20 5.12 0.98 0.58 1.19 12.1 22.7 17.7 16.1 23.8 27.6 16.5 10.9 34.1 12.5 10.4 21.9 6.1 3.6 1.8 8.0 3.6 3.0 2.44 2.70 7.12 -18.0 -8.1 -15.3 1.95 1.95 4.43 2.6 27.2 36.1 -6.1 15.9 31.9 3.90 3.20 5.00 5.60 14.90 8.60 20.90 4.40 8.50 1.25 0.94 1.27 1.30 0.66 0.93 0.80 1.27 0.67 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 9.7 10.5 10.7 13.3 11.9 14.5 10.6 25.2 10.6 8.6 9.6 9.7 12.3 10.6 14.1 10.0 24.0 3.8 2.8 3.3 3.7 3.0 5.7 2.8 2.3 3.7 3.8 2.8 3.7 4.1 3.0 5.7 2.9 2.3 3.7 4.37 2.89 5.03 5.50 13.76 9.20 20.28 5.25 9.43 -8.7 -1.4 -3.2 -1.8 -2.0 -4.3 -2.1 -1.3 -2.5 3.60 2.08 3.90 4.11 12.70 7.50 18.48 4.37 8.20 10.8 37.0 24.9 31.3 6.1 17.3 7.5 18.6 12.1 7.3 19.2 13.0 19.7 -0.1 7.3 0.7 10.0 3.8 0.46 1.26 4.99 3.41 0.61 1.73 1.80 5.95 0.49 1.45 5.62 3.27 0.58 1.90 1.50 5.58 0.82 0.70 1.03 1.07 1.12 na 1.05 0.14 6.0 12.9 32.9 16.8 9.6 12.6 12.8 44.4 6.0 13.2 36.7 20.9 9.9 12.5 12.7 45.8 7.7 9.8 15.2 20.2 6.3 13.7 14.0 13.4 7.7 9.5 13.6 16.3 6.2 13.8 14.1 13.0 0.0 2.2 2.4 2.8 1.6 3.2 1.7 4.2 2.2 2.2 2.4 2.8 1.6 3.2 1.7 4.2 0.51 1.35 5.07 3.61 0.77 1.81 1.98 6.06 -9.8 -6.8 -1.6 -5.5 -20.8 -4.4 -9.1 -1.8 0.36 0.76 4.59 3.07 0.41 1.42 1.41 5.00 27.8 66.7 8.7 11.1 50.6 21.8 27.7 19.0 5.7 20.0 4.4 6.6 6.1 1.8 4.0 1.2 1.98 2.00 0.47 15.4 15.6 12.9 12.7 5.1 5.1 2.40 -17.5 1.93 2.6 -1.5 14.40 17.60 15.41 21.08 0.58 0.58 69.6 93.1 77.5 20.7 101.9 18.9 18.6 17.3 4.8 4.8 5.4 5.2 15.20 18.74 -5.3 -6.1 12.38 13.60 16.3 29.4 3.4 7.4 2.30 7.57 24.16 76.54 2.93 1.98 4.57 0.90 2.23 9.59 21.63 83.86 4.00 2.08 4.17 1.10 0.43 0.35 0.34 0.38 0.48 0.64 0.47 0.60 6.5 35.9 97.9 291.3 23.5 22.9 12.7 9.6 7.5 40.5 119.6 318.0 26.5 22.9 15.8 13.2 35.4 21.1 24.7 26.3 12.5 8.7 36.0 9.4 30.5 18.7 20.2 24.1 11.1 8.6 29.0 6.8 0.8 4.0 2.6 3.7 5.1 4.0 1.0 5.6 1.0 5.0 3.1 3.9 6.1 4.0 1.1 5.6 3.00 9.58 27.00 81.80 3.08 1.99 4.70 1.07 -23.3 -21.0 -10.5 -6.4 -4.9 -0.5 -2.7 -15.7 2.11 7.31 19.66 73.80 1.92 1.42 4.14 0.78 9.0 3.6 22.9 3.7 52.8 39.4 10.3 15.4 -10.5 3.3 2.9 -2.1 14.9 14.5 5.5 13.2 47.90 54.22 1.03 271.1 271.8 17.7 17.6 5.5 5.5 55.96 -14.4 40.31 18.8 8.4 9.43 5.25 10.34 6.10 1.33 1.25 45.0 25.7 51.0 27.9 20.9 20.4 18.5 18.8 0.5 1.5 0.6 1.7 9.83 5.51 -4.1 -4.6 7.50 4.17 25.8 25.8 18.7 16.2 2.94 0.10 4.01 0.10 0.71 1.14 24.5 0.2 24.7 0.3 12.0 42.2 11.9 31.5 7.1 0.0 7.3 0.0 3.47 0.10 -15.3 0.0 2.86 0.05 2.8 90.0 -0.7 90.0 5.84 4.05 6.40 4.61 0.78 0.51 13.9 13.3 17.9 16.5 42.0 30.4 32.5 24.6 0.7 1.5 0.8 1.9 6.79 4.37 -14.0 -7.3 5.78 3.97 1.0 2.0 -8.0 -3.1 4.72 6.24 2.01 5.19 1.98 4.50 6.80 1.90 4.90 2.55 0.55 0.10 0.37 -0.21 0.30 18.2 35.8 16.2 25.6 4.3 21.2 40.5 18.2 30.0 7.1 26.0 17.4 12.4 20.3 46.2 22.2 15.4 11.0 17.3 28.0 1.7 2.9 2.4 2.5 0.5 2.0 3.2 2.7 2.9 0.9 5.03 7.07 2.88 5.51 2.74 -6.2 -11.7 -30.2 -5.8 -27.7 3.81 5.90 1.98 4.20 1.96 23.9 5.8 1.5 23.6 1.0 -2.3 -5.3 -4.7 -3.0 -16.1 INDUSTRIAL SCIENTX SKPRES 7.30 1.35 8.50 1.75 0.54 0.57 67.9 9.3 78.0 14.4 10.8 14.5 9.4 9.4 2.7 3.3 3.2 5.1 7.57 1.44 -3.6 -6.3 5.55 1.12 31.5 20.5 9.0 4.7 MEDIA ASTRO MEDIA PRIMA STAR 2.87 1.07 2.42 3.30 0.85 1.95 1.06 0.62 0.55 11.9 7.7 15.0 13.5 8.0 15.8 24.1 13.8 16.2 21.3 13.4 15.3 4.4 5.8 7.4 4.5 6.0 7.4 3.02 1.54 2.70 -5.0 -30.5 -10.4 2.56 1.00 2.20 12.1 7.0 10.0 10.4 -7.0 8.0 OIL & GAS EATECH MHB MISC PANTECH PCHEM SKPETRO UMWOG UZMA 0.67 0.93 7.45 0.53 7.31 1.85 0.64 1.77 0.45 0.96 8.16 0.52 7.91 1.92 0.54 1.40 na 1.78 0.87 1.25 1.15 2.41 1.95 1.43 11.5 -0.4 49.5 3.7 34.7 5.3 -14.7 11.3 11.9 1.1 56.1 4.3 39.3 4.6 -12.4 12.2 5.8 na 15.0 14.2 21.1 35.2 na 15.7 5.6 82.9 13.3 12.3 18.6 39.9 na 14.5 5.0 0.0 4.0 2.8 2.6 0.0 0.0 0.0 6.0 0.0 4.0 3.2 3.0 0.0 0.0 0.0 1.25 1.34 9.00 0.55 7.59 2.17 1.04 2.04 -46.8 -31.0 -17.2 -2.8 -3.7 -14.7 -38.9 -13.2 0.45 0.84 6.88 0.44 5.95 1.29 0.61 1.30 49.4 10.1 8.3 21.8 22.9 43.4 5.0 36.2 7.3 1.1 1.4 19.1 4.7 14.2 -27.4 4.1 BANKS & FINANCIAL SERVICES AFG 3.99 AFFIN 2.85 AMBANK 4.87 CIMB 5.40 HLBANK 13.48 MAYBANK 8.80 PBBANK 19.86 5.18 RHBBANK BURSA 9.19 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 1.93 3.21 4.68 24.46 9.13 5.80 Target Price BETA (RM) 1.53 3.88 3.93 22.75 8.24 6.53 1.73 0.49 1.06 0.93 1.25 0.50 EPS (sen) PER (X) FY17 FY18 FY17 FY18 6.3 13.7 18.7 111.8 30.8 25.8 11.1 15.7 21.1 119.1 35.3 32.0 30.4 23.4 25.0 21.9 29.7 22.5 17.4 20.4 22.2 20.5 25.8 18.1 Div Yield (%) FY17 FY18 2.6 2.2 2.1 2.2 2.4 2.8 2.6 2.5 2.6 2.4 3.1 2.8 52weeks 52weeks High Price % Chg Low Price % Chg 2.52 3.74 5.04 25.50 9.30 6.19 -23.4 -14.2 -7.1 -4.1 -1.8 -6.3 1.31 3.21 4.07 22.62 7.10 5.53 47.3 0.0 15.0 8.1 28.6 4.9 PROPERTY GLOMAC 0.73 0.69 0.64 3.4 7.0 21.0 10.3 5.5 5.5 0.84 -13.7 0.68 6.6 HUAYANG 1.13 1.09 0.65 20.0 17.4 5.7 6.5 3.5 3.1 1.45 -21.9 1.05 7.6 IOIPG 1.93 2.10 0.90 14.7 15.3 13.1 12.6 3.6 3.9 2.46 -21.6 1.85 4.5 Note: IOIPG 1 for 4 rights issue share, at an issue price of RM1.38 per rights share. Ex-Target price RM1.98. For more detail please refer to 21.11.16 report. MAHSING 1.39 1.60 0.64 14.5 12.5 9.6 11.1 4.3 4.0 1.70 -18.2 1.31 6.1 SNTORIA 0.76 0.80 0.31 6.4 9.7 11.9 7.8 1.3 1.3 0.86 -12.2 0.69 9.4 SPSETIA 3.41 3.82 0.68 27.7 24.5 12.3 13.9 4.1 4.1 3.59 -5.0 2.80 21.8 SUNWAY 3.16 3.40 0.50 31.2 33.3 10.1 9.5 3.8 3.8 3.24 -2.5 2.87 10.1 REIT SUNREIT 1.71 1.79 0.54 8.9 10.1 19.3 16.9 5.2 5.9 1.84 -7.1 1.51 13.2 CMMT 1.65 1.78 0.62 8.1 8.5 20.4 19.4 5.5 5.7 1.72 -4.1 1.40 17.9 % Chg YTD 24.5 -5.6 6.4 1.9 12.7 -3.3 4.3 0.0 -1.0 -2.8 -5.6 8.9 4.3 -0.6 7.8 POWER & UTILITIES MALAKOF PETDAG PETGAS TENAGA YTLPOWR 1.18 24.30 19.72 13.78 1.48 1.45 20.19 19.64 17.19 1.81 na 0.80 0.78 1.02 0.58 6.9 98.4 89.4 129.4 8.8 8.3 102.3 91.6 132.7 10.6 17.0 24.7 22.1 10.6 16.9 14.3 23.8 21.5 10.4 14.0 5.9 3.0 3.2 2.5 6.8 4.9 3.1 3.0 2.6 6.8 1.80 25.70 22.80 14.90 1.64 -34.4 -5.4 -13.5 -7.5 -9.8 1.14 22.16 19.56 13.00 1.38 3.5 9.7 0.8 6.0 7.2 -13.9 2.1 -7.4 -0.9 -0.7 TELECOMMUNICATIONS AXIATA DIGI MAXIS TM 4.72 5.14 6.43 6.35 5.25 4.90 5.95 6.95 1.25 0.97 0.73 0.70 16.7 20.8 25.1 21.4 17.6 21.1 25.4 22.3 28.2 24.7 25.6 29.6 26.8 24.4 25.3 28.5 1.8 4.1 3.1 3.0 1.9 4.1 3.1 3.2 6.00 5.15 6.47 6.90 -21.3 -0.2 -0.6 -8.0 4.11 4.31 5.36 5.81 14.8 19.3 20.0 9.3 0.0 6.4 7.5 6.7 TECHNOLOGY Semiconductor & Electronics IRIS 0.12 INARI 1.94 MPI 9.98 UNISEM 2.94 0.14 2.05 10.55 3.15 1.25 0.77 0.46 0.77 -1.2 10.7 88.9 26.9 0.9 na 12.8 18.1 101.9 11.2 29.1 10.9 13.3 15.2 9.8 10.1 0.0 2.1 2.3 4.1 0.0 2.6 2.3 4.1 0.24 2.01 10.20 2.98 -50.0 -3.5 -2.2 -1.3 0.10 1.28 6.86 2.12 20.0 51.3 45.5 38.7 9.1 16.9 34.7 24.6 2.91 6.93 3.02 7.68 1.18 1.44 33.5 9.8 34.9 10.2 8.7 70.4 8.3 68.1 0.0 1.4 0.0 1.4 3.30 7.30 -11.8 -5.1 1.71 5.76 70.2 20.3 27.1 14.4 1.59 3.89 1.88 4.51 0.85 0.71 15.5 19.3 21.7 17.4 10.2 20.1 7.3 22.3 3.5 3.7 4.4 3.3 1.76 4.59 -9.7 -15.3 1.22 3.74 30.3 4.0 0.0 -9.5 TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WPRTS SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE Company Share Price (S$) BANKS & FINANCIAL SERVICES DBS 19.11 OCBC 9.61 UOB 21.49 PLANTATIONS WILMAR IFAR 3.59 0.53 Target Price Beta (S$) EPS (cent) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) FY17 FY18 52week 52week High Price % Chg Low Price % Chg % Chg YTD 16.70 8.50 19.40 1.21 1.13 1.08 173.8 87.8 195.7 190.2 11.0 92.5 10.9 209.4 11.0 10.0 10.4 10.3 3.1 5.7 3.3 3.1 6.7 3.3 19.4 9.8 22.0 -1.3 -1.7 -2.1 14.63 8.84 17.41 30.6 17.1 23.4 10.2 7.7 5.3 3.45 0.51 0.91 1.12 28.9 3.9 31.1 4.3 11.5 12.3 2.2 1.8 2.5 2.0 4.0 0.6 -10.3 -16.0 2.96 0.44 21.3 19.3 0.0 0.0 12.4 13.4 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 ECONOMIC REPORT A Member of the TA Group Tuesday , March 14, 2017 FBMKLCI: 1,721.92 MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Malaysian Economy Malaysia’s Industrial Output Moderates at the Start of the Year THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TA Research Team Coverage shazma@ta.com.my farid@ta.com.my Tel: +603-2167 9609 Summary Malaysia’s Industrial Production Index (IPI) moderated in the first month of 2017 as the growth of mining and electricity sector reduced. Overall industrial output increased by 3.5% YoY as compared with 4.7% YoY gain in December 2016 (Consensus projection: +5.3% YoY). Preventing from further slowdown in IPI was stronger production growth in the manufacturing sector, which grew by 4.6% YoY. Higher production growth of the E&E products have pulled up the overall manufacturing production higher during the month. In fact, production in both export and domestic oriented industries was better than in the prior month. Despite the slower pace of January’s IPI data, we remain confident of a resilient 1Q17 real GDP growth (TA forecast: 4.5% YoY) on the basis of better and improving manufacturing output data. Based on the 3-Month Moving Average (3MMA), it had shown a steady increase since October 2016 to 5.1% YoY in January 2017. Indeed, we expect a solid real GDP manufacturing output of 4.8% in the first quarter of 2017. Figure 1: IPI Manufacturing vs GDP manufacturing vs GDP (1Q11 – 1Q17e) 9.0 8.0 7.0 YoY % 6.0 5.0 4.0 3.0 2.0 1.0 1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 3Q2015 4Q2015 1Q2016p 2Q2016 3Q2016 4Q2016 1Q2017e 0.0 -1.0 GDP Growth GDP Manufacturing IPI Manufacturing Sources: Department of Statistics, TA Securities Supporting our view is Markit’s PMI surveys, which improved in February 2017. Although the data was still below than 50-point threshold, it was better than the previous month at 49.4 (January 2017: 48.6), the highest recorded since May 2015. The improvement was due to the levels of outstanding business which accumulated at the quickest pace in the series history. Despite new orders contracting, goods producers raised their output levels for the first time since March 2015. The rise was reflected in the sharpest accumulation of finished goods stock for 15 months. Page 1 of 4 www.taonline.com.my
  12. TA Securities 14-Mar-17 A Member of the TA Group IPI Moderates in the First Month of 2017 Malaysia ’s Industrial Production Index (IPI) moderated in the first month of 2017 as the growth of mining and electricity sector reduced. Overall industrial output increased by 3.5% YoY as compared with 4.7% YoY gain in December 2016 (Consensus projection: +5.3% YoY). Nonetheless, manufacturing output, which contributes the most to the index, rose by 4.6% YoY due to the higher production of E&E products. On a monthly comparison, IPI declined by 1.1% MoM, s.a. (December 2016: +0.9% MoM, s.a) led by a contraction in the mining (-3.2% MoM, s.a) and electricity output (-0.7% MoM, s.a). Figure 2: Industrial Production Index (January 2011 – January 2017) Sources: Department of Statistics, TA Securities Figure 3: Summary of IPI (June 2016 – January 2017) (2010=100) 2016 Jul-16 Aug-16 Sep-16 IPI Mining Electricity Manufacturing Manufacturing Sales Value 3.8% 1.6% 8.5% 4.3% 1.3% 4.1% 6.1% 7.1% 3.3% -3.4% 4.9% 4.3% 11.4% 4.6% -0.6% 3.1% -0.3% 7.1% 4.0% 1.1% Oct-16 4.2% 3.5% 6.9% 4.2% 1.9% Nov-16 Dec-16 6.2% 4.7% 9.7% 6.5% 8.2% 4.7% 5.8% 6.1% 4.3% 10.6% Jan-17 3.5% 1.1% 1.1% 4.6% 10.7% Sources: Department of Statistics, TA Securities Malaysia’s Manufacturing Sector Sees Higher YoY Growth The manufacturing output (65.9% of total IPI) improved to 4.6% YoY growth in January 2017, higher than 4.3% YoY gain registered in prior month. Both production from exportand domestic oriented industries posted a better pace of growth than the previous month. Trend wise, that manufacturing growth had shown strength overall in the last three months. Based on the 3-Month Moving Average (3MMA), it had shown a steady increase since October 2016 as it currently increased by 5.1% YoY in January 2017. On a monthly comparison, manufacturing output edged up 0.7% in January 2017. Furthermore, output of export-oriented industries increased by 4.7% YoY, faster than 4.5% YoY gain previously. Within this industry: Production of “E&E Products” increased by 6.9% YoY during the month, higher than 5.3% YoY gain in December 2016. Output of “Computer, Electronics & Optical Products” and “Electrical Equipment” has increased to 6.6% YoY and 9.1% YoY, respectively in January 2017 (December 2016: +5.3% YoY and +6.4% YoY, respectively). This is in tandem with higher exports growth of E&E products as it posted a double digit growth of 11.4% YoY during the month. In the same vein, production of “Wood Products, Furniture, Paper Products & Printing” rose by 8.7% YoY in January 2017 (December 2016: 6.1% YoY) and “Textiles, Wearing Apparel, Leather Products and Footwear” increased to 6.7% YoY from 4.9% YoY in the previous month. Page 2 of 4
  13. TA Securities 14-Mar-17 A Member of the TA Group As for the largest contribution in the manufacturing division , “Petroleum, Chemical, Rubber & Plastic Products”, however, rose at a modest pace of 2.3% YoY (December 2016: 3.7% YoY). This was underpinned by the slower growth in the manufactures of “Coke & Refined Petroleum Products” (January 2017: +1.8% YoY; December 2016: +2.3% YoY; November 2016: +5.3% YoY) as well as “Manufacture of Chemicals & Chemical Products” (January 2017: +2.5% YoY; December 2016: +6.1% YoY; November 2016: +9.4% YoY) Similarly, output growth in domestic oriented industries also improved from 1.5% YoY in December 2016 to 4.3% YoY in January 2017. The output of “Transport Equipment & Other Manufactures” and “Non-Metallic Mineral Products, Basic Metal & Fabricated Metal Products” increased by 3.2% YoY (December 2016: -0.9% YoY) and 2.7% YoY (December 2016: +2.0% YoY) during the month. In addition, output of “Food, Beverages & Tobacco” moderated at 6.8% YoY as compared with 8.8% YoY gain previously. Mining and Electricity Output Moderates On the other hand, the output of mining sector (28.9% of total IPI) registered a moderate growth of 1.1% YoY in January 2017, following the 5.8% YoY gain in the prior month. Details showed that the gain in output growth was led by lower output of natural gas (January 2017: +5.3% YoY; December 2016: +12.7% YoY; November 2016: +13.2% YoY). Moreover, output of crude oil contracted by 2.3% YoY after posted a marginal growth of 0.1% in December 2016. On a seasonally adjusted monthly basis, the mining output decreased by 3.2%. Similarly, the electricity output (5.2% of total IPI) increased by 1.1% YoY in January 2017 as compared with 6.1% YoY gain observed in the previous month. Note that the IPI component of electricity had registered a positive annual growth since August last year. Nonetheless, seasonally adjusted output for electricity sector dropped by 0.7% from December 2016. Figure 4: IPI Sub-sectors Performance (January 2011 – January 2017) YoY % 20% Mining Production Manufacturing Production Electricity Production 15% 10% 5% 0% -5% -10% -15% -20% Jan-16 Jan-15 Jan-14 Jan-13 Jan-12 Jan-11 -25% Sources: Department of Statistics, TA Securities The highest sales since February 2014 In tandem with still strong manufacturing output, manufacturing sales were strong at 10.7% YoY to RM61.2bn. Probably, this could reflect the low base effect in January 2016 as it contracted by 3.4% YoY (RM55.3bn). The strong growth was driven by major E&E component as seen in Figure 4. In tandem with the improved sales, total number of employees employed in the manufacturing sector edged up by 1.4% YoY and 1.1% MoM. Also, productivity increased by 9.2% YoY while it decreased by 1.6% MoM to register RM58,580. Page 3 of 4
  14. TA Securities 14-Mar-17 A Member of the TA Group Figure 5 : Sales Value of Manufacturing Industries (January 2017) Industries Manufacture of refined petroleum products Manufacture of electrical capacitors and resistors, printed circuit boards and display components Manufacture of passenger cars and commercial vehicles Manufacture of basic organic chemicals and inorganic compounds Manufacture of diverse plastic products n.e.c. Increase RMbn % 2.66 37.9 Jan-16 Jan-17 7,038.70 9,702.90 3,170.70 5,245.30 2.07 65.4 1,850.50 2,463.70 0.61 33.1 2,528.00 2,819.40 0.29 11.5 548.90 739.10 0.19 34.6 Sources: Department of Statistics, TA Securities Figure 6: Manufacturing - Output vs. Sales (January 2013 – January 2017) % YoY Manufacturing Sales Manufacturing Output 20.0 15.0 10.0 5.0 0.0 -5.0 -10.0 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Sources: Department of Statistics, TA Securities 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 4 of 4
  15. TA Securities A Member of the TA Group MENARA TA ONE , 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Sunway Construction Group Berhad C O M P A N Y U P D A T E Tuesday, March 14, 2017 FBMKLCI: 1,721.92 Sector: Construction TP: RM1.90(+9.8%) Last traded: RM1.73 Secured MRT Line 2 Station Works Package S01 BUY THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Ooi Beng Hooi Tel: 603-2167-9612 benghooi@ta.com.my Subsequent to the media release by MRT Corp last Friday and our report dated 13 March 2017, SUNCON announced that it has signed the Letter of Acceptance issued by MRT Corp in respect of Package S201 of MRT Line 2, the construction and completion of elevated stations and other associated works at Damansara Damai, Sri Damansara West and Sri Damansara East, for a contract sum of RM212.3mn. www.taonline.com.my Share Information Bloomberg Code Bursa Stock Code Listing Share Cap (mn) Market Cap (RMmn) Par Value 52-wk Hi/Lo (RM) 12-mth Avg Daily Vol ('000 shrs) Estimated Free Float (%) Beta Major Shareholders (%) SCGB MK SUNCON 5263 Main Market 1292.9 2236.7 0.20 1.81/1.42 2461.9 34.8 0.53 Sunholdings - 54.42 Sungei Way Corp Sdn Bhd - 10.06 Forecast Revision Forecast Revision (%) Net profit (RMm) Consensus TA's / Consensus (%) Previous Rating FY17 FY18 163.5 162.2 153.8 164.0 106.3 98.9 Hold (Upgraded) Financial Indicators The works include foundation works, civil and structural works, architectural, building works, finishes, electrical and mechanical works and interfacing with system works. The package shall be completed by 30 September 2020. Clarification from the Management The management clarified that S201 is a nominated subcontract of V201. As such, this award will not increase its order book but will enhance the overall margin of V201. YTD, SUNCON has secured RM496mn of new jobs, versus the management’s target of RM2.0bn for FY17. The contracts secured YTD are as follows: Exhibit 1: Contracts Secured YTD Project Sunway Property – Kelana Jaya Condo CP3 Walkway Precast Net Debt / Equity (%) CFPS (sen) Price / CFPS (x) ROA (%) NTA/Share (sen) Price/NTA (x) FY17 net cash 7.9 21.9 9.3 45.3 3.8 Share Performance (%) Price Change 1 mth 3 mth 6 mth 12 mth SCGB FBM KLCI 0.6 0.8 3.0 4.8 6.8 3.6 13.1 1.3 (12-Mth) Share Price relative to the FBM KLCI Amount (RMmn) 449 4 43 496 TOTAL Source: Company, TA Research Impact Maintain. Source: Bloomberg Valuation We upgrade the stock to a BUY as value reemerges after the share price retreated from an all-time high of RM1.81 recorded last month. Maintain our target price of RM1.90, based on unchanged 15x CY17 earnings. Page 1 of 2 FY18 net cash 5.5 31.5 8.6 52.4 3.3
  16. TA Securities 14-Mar-17 A Member of the TA Group Financial Statements Profit & Loss (RMmn) YE Dec 31 Revenue EBITDA Dep. & amortisation Net finance cost PBT Taxation MI Net profit Core net profit GDPS (sen) Div Yield (%) Cash Flow (RMmn) YE Dec 31 PBT Adjustments Changes in WC Operational cash flow Capex Others Investment cash flow Debt raised/(repaid) Dividend Others Financial cash flow Forex effect Desposit Net cash flow Beginning cash Ending cash 2015 2016 2017F 2018F 2019F 1,916.9 1,788.8 2,336.0 2,170.0 2,409.7 178.2 206.0 247.2 245.5 265.4 (41.9) (39.1) (42.1) (42.1) (40.5) 4.5 4.1 (1.6) (1.6) (3.4) 140.8 153.7 206.7 205.0 228.3 (13.0) (30.0) (43.4) (43.1) (47.9) 0.6 0.1 (0.2) (0.2) 0.0 127.1 123.5 163.5 162.2 180.4 127.1 123.5 163.5 162.2 180.4 4.0 5.0 5.5 5.5 6.0 2.3 2.9 3.2 3.2 3.5 2015 140.8 34.1 64.9 239.8 (38.7) (25.9) (64.5) 1.6 (70.0) 0.0 (68.4) 4.8 0.0 107.3 277.6 389.7 2016 153.7 (14.8) (59.0) (79.9) (19.0) 37.5 18.5 (0.3) (84.0) 0.0 (84.4) 2.1 0.0 74.0 389.7 465.8 2017F 206.7 40.5 12.9 260.1 (49.7) 8.3 (41.4) (3.5) (71.1) 0.0 (74.6) 0.0 0.0 102.3 511.5 613.8 2018F 205.0 40.5 (5.5) 240.0 (49.7) 8.3 (41.4) (15.0) (71.1) 0.0 (86.1) 0.0 0.0 71.1 613.8 684.9 2019F 228.3 37.1 7.9 273.3 (50.0) 8.3 (41.7) (70.0) (77.6) 0.0 (147.6) 0.0 1.0 39.5 684.9 724.4 Balance Sheet (RMmn) YE Dec 31 2015 Fixed assets 162.5 Others 17.7 NCA 180.2 Cash 390.5 Others 826.8 CA 1,217.2 2016 134.3 15.5 149.8 465.8 951.8 1,417.5 2017F 162.6 18.4 181.0 590.2 1,119.4 1,709.6 2018F 161.9 18.4 180.3 661.3 1,056.2 1,717.5 2019F 163.1 18.4 181.5 700.8 1,147.4 1,848.2 Total assets 1,397.4 1,567.3 1,890.6 1,897.8 2,029.7 136.8 804.8 941.7 451.0 0.6 0.0 4.1 136.5 936.2 1,072.7 493.2 0.8 0.0 0.6 133.3 1,166.5 1,299.9 586.3 0.3 0.0 4.1 118.3 1,097.9 1,216.2 677.3 0.1 0.0 4.1 48.3 1,197.0 1,245.4 780.1 0.1 0.0 4.1 1,397.4 1,567.3 1,890.6 1,897.8 2,029.7 ST borrowings Other liabilities CL Shareholders' funds MI LT borrowings Other LT liabilities Total capital Ratio YE Dec 31 EBITDA Margins (%) Core EPS (sen) EPS Growth (%) PER (x) GDPS (sen) Div Yield (%) Net cash (RMmn) Net gearing (%) ROE (%) ROA (%) NTA (sen) P/NTA(x) 2015 9.3 9.8 24.5 17.6 4.0 2.3 2016 11.5 9.6 (2.8) 18.1 5.0 2.9 2017F 10.6 12.6 32.4 13.7 5.5 3.2 2018F 11.3 12.5 (0.8) 13.8 5.5 3.2 2019F 11.0 13.9 11.2 12.4 6.0 3.5 253.6 329.3 456.9 542.9 652.4 net cash net cash net cash net cash net cash 30.6 26.2 30.3 25.7 24.7 9.3 8.3 9.3 8.6 9.2 34.6 37.9 45.3 52.4 60.3 5.0 4.6 3.8 3.3 2.9 Stock Recommendation Guideline BUY : HOLD : SELL : Not Rated: Total return within the next 12 months exceeds required rate of return by 5%-point. Total return within the next 12 months exceeds required rate of return by between 0-5%-point. Total return is lower than the required rate of return. The company is not under coverage. The report is for information only. 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. 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 2 of 2
  17. Tuesday , 14 March, 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
  18. T e c h n i c a l TA Securities V i e w Tuesday , March 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: 1,712.92 (+4.34, +0.25%) 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 SKPETRO SUNCON UEMS WASEONG WCT Close 13-Mar 1721.92 2.85 3.99 4.87 4.72 5.40 5.14 4.99 9.43 5.25 5.84 4.68 1.18 6.43 8.80 1.15 5.18 9.13 13.78 6.35 3.89 2.91 0.41 0.70 0.46 4.20 1.66 1.48 1.26 1.71 2.59 2.16 1.26 0.92 1.52 1.54 1.85 1.73 1.23 0.87 1.80 Change 4.34 -0.02 -0.02 0.00 -0.01 0.03 0.04 -0.01 0.13 -0.02 -0.06 0.02 -0.01 0.01 0.03 -0.01 0.02 -0.01 0.06 0.04 0.01 0.08 0.00 -0.02 -0.01 -0.04 0.00 -0.02 0.00 0.01 0.31 -0.01 -0.02 -0.01 0.00 -0.01 0.02 -0.02 0.04 0.00 -0.06 Tel: +603-2167-9607 High Low 1,722.25 1,715.35 2.87 4.03 4.87 4.73 5.42 5.15 5.03 9.43 5.32 5.92 4.69 1.20 6.45 8.84 1.18 5.18 9.17 13.84 6.35 3.92 2.93 0.41 0.72 0.49 4.30 1.67 1.50 1.30 1.73 2.93 2.21 1.28 0.93 1.53 1.54 1.87 1.76 1.26 0.88 1.86 2.83 3.95 4.82 4.67 5.37 5.08 4.95 9.24 5.24 5.78 4.64 1.18 6.37 8.78 1.15 5.09 9.09 13.70 6.25 3.89 2.81 0.40 0.70 0.46 4.18 1.64 1.46 1.25 1.71 2.57 2.16 1.26 0.90 1.50 1.53 1.75 1.73 1.20 0.87 1.76 Bollinger Bands Lower Mid Upper 1,690.34 1,710.59 1,730.84 2.31 3.81 4.42 4.31 4.88 4.99 4.86 8.56 4.97 5.74 4.55 1.12 6.28 8.25 1.13 4.85 9.01 13.41 6.07 3.87 2.53 0.39 0.67 0.43 4.08 1.56 1.45 1.02 1.65 0.60 2.06 1.20 0.81 1.39 1.48 1.80 1.68 1.12 0.85 1.83 2.63 3.95 4.74 4.70 5.19 5.06 4.95 9.07 5.24 6.04 4.68 1.22 6.39 8.59 1.15 5.07 9.12 13.59 6.20 4.02 2.71 0.40 0.73 0.45 4.20 1.64 1.51 1.14 1.70 1.39 2.20 1.30 0.89 1.47 1.59 1.91 1.74 1.17 0.88 1.88 2.96 4.09 5.05 5.09 5.50 5.13 5.05 9.57 5.50 6.33 4.80 1.31 6.49 8.94 1.18 5.29 9.24 13.77 6.34 4.17 2.89 0.42 0.79 0.48 4.32 1.72 1.57 1.26 1.74 2.17 2.34 1.40 0.97 1.54 1.70 2.03 1.79 1.23 0.92 1.93 stsoo@ta.com.my RSI Moving Averages 14d 10d 30d 50d 62.00 1,715.40 1,703.27 1,686.92 DMI DI + DI - ADX 35.46 17.23 37.94 Diff 18.23 78.30 55.54 65.59 50.52 69.18 65.60 55.57 69.34 54.28 33.16 52.75 36.74 64.61 68.39 53.88 61.63 57.54 62.94 70.61 31.82 65.19 53.04 49.00 55.20 52.35 60.33 48.90 74.31 55.64 93.79 45.62 44.48 57.47 61.79 41.86 47.02 51.46 66.23 49.55 36.34 38.92 24.53 29.43 19.42 32.55 25.72 16.89 29.55 23.98 14.93 20.80 12.78 21.63 35.70 25.14 26.26 21.05 18.32 22.60 6.55 28.31 15.32 23.29 27.88 22.30 26.44 22.78 38.76 37.21 75.52 26.65 24.48 32.48 31.29 16.65 20.49 21.45 33.67 17.83 15.31 29.42 9.74 13.80 (5.85) 16.89 10.28 (5.65) 21.91 9.92 (18.09) 4.13 (9.90) 4.25 21.71 7.75 5.41 0.40 1.89 7.99 (28.06) 14.51 1.73 15.26 6.18 16.15 16.15 5.76 30.77 11.09 72.40 6.18 (1.94) 8.94 22.71 (9.60) (11.36) 11.18 22.07 2.45 (21.09) 2.76 3.97 4.87 4.65 5.29 5.06 4.98 9.27 5.30 5.93 4.71 1.19 6.37 8.75 1.15 5.10 9.09 13.66 6.26 3.97 2.75 0.40 0.72 0.45 4.21 1.67 1.50 1.18 1.70 1.58 2.24 1.26 0.88 1.48 1.54 1.94 1.72 1.18 0.87 1.87 2.57 3.91 4.68 4.78 5.13 5.05 4.94 8.84 5.15 6.12 4.64 1.24 6.32 8.47 1.15 5.05 9.08 13.56 6.15 4.08 2.67 0.41 0.69 0.45 4.20 1.61 1.49 1.12 1.68 1.22 2.18 1.31 0.88 1.47 1.61 1.87 1.73 1.15 0.88 1.87 2.51 3.85 4.57 4.75 4.98 4.99 4.92 8.56 4.96 6.21 4.57 1.28 6.22 8.36 1.09 4.97 8.83 13.69 6.12 4.16 2.55 0.39 0.67 0.44 4.11 1.58 1.44 1.10 1.67 1.08 2.16 1.30 0.88 1.44 1.61 1.80 1.71 1.13 0.86 1.85 9.50 14.79 15.63 25.27 15.65 15.44 22.54 7.64 14.05 33.03 16.67 22.68 17.39 13.99 17.39 20.86 20.66 16.43 14.61 34.61 13.80 13.59 24.67 12.63 16.12 10.29 17.03 7.99 26.12 3.12 20.46 26.42 23.54 8.58 26.26 31.85 10.27 11.60 15.37 36.41 45.75 31.66 39.38 23.13 32.70 17.82 17.07 60.23 44.74 22.01 20.82 24.19 20.11 37.52 35.01 23.15 26.31 16.03 18.04 60.66 23.39 20.72 26.44 22.18 18.66 49.29 36.88 40.13 17.90 60.97 32.85 18.59 22.71 35.18 31.65 36.82 24.66 32.82 19.29 16.68 www.taonline.com.my Line 9.89 0.11 0.05 0.11 -0.03 0.12 0.02 0.02 0.24 0.10 -0.10 0.04 0.02 0.05 0.14 0.02 0.05 0.07 0.02 0.06 -0.07 0.07 0.00 0.02 0.00 0.02 0.03 0.02 0.04 0.01 0.28 0.02 -0.02 0.01 0.02 -0.02 0.04 0.00 0.02 0.00 0.00 MACD Signal 9.89 0.08 0.04 0.10 -0.04 0.10 0.02 0.02 0.24 0.12 -0.09 0.04 0.02 0.06 0.13 0.02 0.04 0.09 -0.01 0.04 -0.06 0.06 0.00 0.02 0.00 0.03 0.03 0.02 0.03 0.01 0.16 0.03 -0.01 0.00 0.01 -0.02 0.05 0.00 0.02 0.01 0.01 Diff 0.000 DMI MACD Recent Signal BUY BUY DMI MACD Signal Change - 0.028 0.006 0.011 0.012 0.019 0.005 0.006 0.006 (0.014) (0.006) (0.008) (0.007) (0.004) 0.009 (0.005) 0.014 (0.022) 0.035 0.015 (0.005) 0.015 (0.001) (0.007) 0.001 (0.006) (0.001) (0.007) 0.014 0.000 0.124 (0.005) (0.003) 0.006 0.007 (0.007) (0.016) (0.003) 0.004 (0.004) (0.008) BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL BUY SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL SELL BUY BUY BUY SELL BUY BUY - BUY BUY BUY BUY BUY BUY BUY BUY SELL SELL SELL SELL SELL BUY SELL BUY SELL BUY BUY SELL BUY SELL SELL BUY SELL SELL SELL BUY BUY BUY SELL SELL BUY BUY SELL SELL SELL BUY SELL SELL SELL BUY SELL - 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
  19. Technical Comments : Extreme overbought momentum on IWCB, with the 14-day RSI reading above 90, warrants a significant profittaking correction to close most of the RM2.28-2.57 gap-up, with immediate retracement supports at the 200%FP (RM2.45), 176.4%FP (RM2.25) and 161.8%FP (RM2.12), and resistance from yesterday’s high (RM2.93). Bearish technical momentum on WCT Holdings implies correction potential, with breakdown below the 76.4%FR (RM1.77) to grease slide towards the 200-day ma (RM1.70) or the 61.8%FR (RM1.64) before stalling. Key overhead resistance is from the 11/11/16 high (RM1.98). IWCB Upper Middle RM2.59 (+0.31) BOLLINGER BANDS RM RM 2.17 1.39 10-day 30-day RM 0.60 50-day Lower DMI Recent Signal BUY 1.08 Recent Signal BUY Signal Change WCT HOLDINGS Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 1.58 RM 1.22 BOLLINGER BANDS RM RM RM DMI RM1.80 (-0.06) 1.93 1.88 1.83 SELL SIMPLE MOVING AVERAGES RM 1.87 RM 1.87 RM 1.85 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 4
  20. T e c h n i c a l TA Securities V i e w Tuesday , March 14, 2017 FBMKLCI: 1,721.92 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 13.03.2017 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 AT SYSTEMATIZATI DAGANG NEXCHANGE BIOALPHA HOLDING STERLING PROGRES BERJAYA CORP BHD HOVID BHD DIGISTAR CORP OLYMPIA INDS BHD AIRASIA X BHD LUSTER INDUSTRIE EKA NOODLES BHD DBE GURNEY RESOU DPS RESOURCES BH JAKS RESOURCES KARAMBUNAI CORP INARI AMERTRON B BIO OSMO BHD GREEN PACKET BHD XINGQUAN INTERNA CENSOF HOLDINGS SIME DARBY IGB REIT KRONOLOGI ASIA B SP SETIA BHD NEXGRAM HOLDINGS YFG BHD TA GLOBAL BHD IOI CORP BHD TADMAX RESOURCES LAND & GENERAL 0.05 0.39 0.25 0.22 0.40 0.33 0.19 0.12 0.41 0.10 0.08 0.04 0.09 1.30 0.08 1.94 0.07 0.30 0.10 0.30 9.13 1.69 0.37 3.41 0.05 0.06 0.34 4.68 0.42 0.34 RSI Bollinger Band Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.03 0.30 0.21 0.20 0.37 0.31 0.17 0.09 0.39 0.09 0.07 0.03 0.08 1.14 0.05 1.83 0.05 0.24 0.08 0.23 9.01 1.61 0.32 3.38 0.04 0.04 0.27 4.55 0.39 0.31 0.04 0.38 0.24 0.21 0.38 0.32 0.18 0.11 0.40 0.09 0.08 0.04 0.08 1.28 0.06 1.92 0.06 0.28 0.09 0.29 9.12 1.69 0.35 3.40 0.04 0.05 0.32 4.68 0.41 0.33 0.05 0.47 0.26 0.23 0.40 0.34 0.19 0.12 0.42 0.10 0.09 0.04 0.09 1.43 0.08 2.01 0.07 0.31 0.10 0.35 9.24 1.76 0.39 3.41 0.05 0.06 0.37 4.80 0.43 0.36 59.25 55.97 59.93 62.35 60.18 53.30 62.20 64.24 53.04 61.87 54.83 52.84 59.54 54.80 76.54 59.43 56.00 63.17 54.06 56.80 57.54 48.94 57.53 59.48 54.94 58.91 64.16 52.75 57.51 56.47 0.04 0.41 0.25 0.22 0.39 0.32 0.18 0.10 0.40 0.09 0.07 0.04 0.08 1.24 0.07 1.96 0.06 0.29 0.09 0.31 9.09 1.71 0.36 3.40 0.04 0.05 0.34 4.71 0.41 0.33 0.04 0.35 0.23 0.20 0.39 0.32 0.17 0.10 0.41 0.09 0.08 0.04 0.08 1.29 0.06 1.89 0.06 0.27 0.09 0.27 9.08 1.70 0.35 3.40 0.04 0.05 0.30 4.64 0.41 0.33 0.04 0.32 0.23 0.17 0.37 0.32 0.17 0.10 0.39 0.08 0.07 0.04 0.08 1.22 0.06 1.83 0.06 0.27 0.09 0.25 8.83 1.69 0.34 3.32 0.04 0.04 0.29 4.57 0.40 0.32 Vol 63,349,400 45,187,500 38,117,800 28,481,900 22,727,800 15,071,700 14,653,200 13,646,800 11,201,300 10,707,000 10,245,200 10,107,700 9,742,400 9,512,200 7,633,700 7,309,500 6,916,100 6,713,400 6,173,700 6,069,100 6,064,300 5,938,000 5,758,000 5,563,300 5,477,000 5,137,900 4,630,700 4,398,300 4,243,800 4,106,700 20-day avg vol 21,642,210 96,954,460 20,738,760 29,590,740 18,854,090 6,456,595 5,405,225 2,648,745 15,778,380 8,567,940 3,546,680 17,184,880 1,509,805 10,240,270 8,858,695 8,017,775 2,093,710 6,546,685 1,620,400 14,294,720 10,205,460 4,549,795 7,802,350 2,997,325 8,449,680 5,196,130 6,207,810 6,496,140 1,665,800 3,857,535 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
  21. 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 IKHMAS JAYA GROU PWORTH JOHAN HLDGS BHD KNUSFORD BHD PAN MALAYSIA HLD K SENG SENG CORP TRC SYNERGY BHD MB WORLD GROUP B LANDMARKS BERHAD MINETECH RESOURC DATAPREP HLDGS PAN MALAYSIA LB ALUMINIUM BHD MMS VENTURES BHD PLS PLANTATIONS TSR CAPITAL BHD WONG ENGINEER BENALEC LION FOREST INDU 0.63 0.20 0.22 1.53 0.15 0.48 0.52 1.47 0.83 0.13 0.27 0.18 0.74 0.76 1.22 0.56 0.69 0.58 0.62 1.98 POH HUAT RES HLD Raw data sourced from Bloomberg 20 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.56 0.07 0.16 0.98 0.12 0.40 0.38 1.28 0.70 0.09 0.21 0.15 0.63 0.57 0.88 0.46 0.60 0.42 0.45 1.77 0.59 0.12 0.18 1.22 0.13 0.43 0.43 1.36 0.75 0.10 0.24 0.16 0.67 0.64 1.02 0.51 0.64 0.49 0.52 1.84 0.62 0.17 0.20 1.45 0.14 0.46 0.49 1.43 0.80 0.12 0.26 0.17 0.71 0.71 1.17 0.55 0.67 0.55 0.59 1.91 68.91 80.64 72.10 75.82 67.66 67.88 83.97 70.69 77.43 83.68 67.97 63.24 71.08 82.34 79.70 67.02 67.73 73.73 71.25 77.18 0.59 0.14 0.18 1.29 0.13 0.43 0.44 1.36 0.75 0.11 0.24 0.16 0.67 0.65 1.05 0.51 0.64 0.48 0.54 1.85 0.59 0.12 0.18 1.18 0.13 0.42 0.42 1.37 0.75 0.10 0.24 0.16 0.67 0.63 1.02 0.50 0.63 0.49 0.51 1.84 0.60 0.12 0.17 1.17 0.13 0.41 0.41 1.28 0.74 0.10 0.23 0.16 0.66 0.61 1.02 0.49 0.63 0.46 0.48 1.83 Vol 14,576,700 414,061,200 37,417,400 473,800 11,593,700 1,238,500 13,493,300 1,105,800 2,971,300 46,271,700 13,104,300 1,654,200 10,564,900 8,769,800 157,700 517,800 261,100 56,540,200 1,130,800 2,328,300 20-day avg vol 1,203,320 36,085,580 3,445,540 48,830 1,195,535 133,165 1,579,490 132,335 363,915 5,686,780 1,738,005 219,605 1,408,195 1,254,740 23,245 76,345 40,210 8,983,525 191,675 396,115 p *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 20P 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 WCT HOLDINGS BHD HIBISCS KAREX BHD COASTAL CONTRACT IFCA MSC BHD YEE LEE CORP MALAYAN FLOUR WHITE HORSE BHD MAH SING GROUP XIAN LENG HLDGS GOH BAN HUAT TPC PLUS BHD MMAG HOLDINGS BH JKG LAND BHD FIAMMA HLDGS RELIANCE PAC BHD YTL CORP BHD JAG BHD INIX TECHNOLOGIE HALEX HOLDINGS B 1.80 0.41 1.98 1.36 0.43 2.54 1.39 1.98 1.39 0.38 1.37 0.48 0.05 0.17 0.58 0.32 1.49 0.10 0.07 0.54 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 1.83 0.43 1.99 1.37 0.44 2.55 1.40 1.99 1.40 0.38 1.37 0.48 0.05 0.17 0.58 0.32 1.49 0.10 0.07 0.54 1.88 0.49 2.24 1.45 0.49 2.58 1.47 2.02 1.46 0.40 1.39 0.50 0.06 0.18 0.59 0.33 1.53 0.13 0.08 0.57 1.93 0.55 2.49 1.52 0.54 2.61 1.54 2.05 1.53 0.42 1.41 0.51 0.06 0.18 0.61 0.35 1.57 0.16 0.08 0.60 36.34 30.22 12.18 31.81 39.86 40.24 37.99 34.44 30.50 37.68 25.69 39.18 30.99 40.28 39.62 44.29 36.13 32.95 31.18 47.10 1.87 0.47 2.13 1.42 0.47 2.58 1.46 2.01 1.44 0.40 1.39 0.50 0.05 0.18 0.59 0.33 1.52 0.12 0.07 0.56 1.87 0.50 2.30 1.45 0.47 2.59 1.46 2.02 1.47 0.40 1.40 0.50 0.05 0.17 0.59 0.33 1.53 0.13 0.08 0.57 1.85 0.48 2.35 1.45 0.42 2.56 1.42 2.02 1.47 0.41 1.40 0.49 0.05 0.17 0.58 0.33 1.53 0.13 0.08 0.50 Vol 4,686,900 56,345,800 7,145,900 1,078,400 21,906,900 342,700 386,800 18,500 2,122,100 1,500 4,000 159,000 1,692,000 9,235,300 465,500 4,000 5,426,900 12,837,200 2,346,900 681,700 20-day avg vol 1,984,575 59,258,880 1,846,755 436,915 27,221,030 249,010 607,165 13,360 1,915,975 2,570 3,005 140,665 9,786,160 1,291,760 444,940 22,025 4,513,365 25,387,290 1,690,040 1,253,725 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
  22. Tuesday , 14 March, 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
  23. T e c h n i c a l TA Securities V i e w Tuesday , March 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: 5,757.35 (-18.27, -0.32%) 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 Close Bollinger Bands RSI Moving Averages DMI Change High Low 13-Mar Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff 5757.35 -18.27 5775.60 5744.70 5699.45 5764.52 5829.59 53.24 5746.49 5728.88 5722.40 26.86 16.95 18.71 9.91 23.65 59.16 84.30 35.13 31.89 33.14 44.25 30.73 21.90 8.45 6.15 12.69 6.36 4.94 3.53 89.42 13.31 17.83 6.77 10.57 14.40 4.50 1.82 14.14 3.88 12.19 -0.02 0.19 -0.20 0.00 -0.06 -0.02 -0.16 -0.33 0.97 -0.08 0.04 -0.05 -0.04 -0.12 -0.06 0.47 -0.21 -0.35 -0.16 0.03 0.05 -0.11 -0.03 0.05 0.07 -0.37 23.67 59.25 84.50 35.15 31.94 33.22 44.35 31.00 22.02 8.49 6.25 12.75 6.38 5.06 3.57 89.88 13.47 18.13 6.91 10.70 14.52 4.63 1.86 14.19 3.88 12.34 23.40 58.21 84.02 34.86 31.65 32.97 43.95 30.57 21.23 8.41 5.99 12.62 6.29 4.91 3.51 88.80 13.24 17.67 6.69 10.47 14.36 4.48 1.80 14.01 3.78 12.18 23.58 56.97 81.69 32.96 29.84 31.10 41.96 30.52 20.48 8.48 6.05 12.18 6.03 4.75 3.48 85.67 13.09 17.80 6.80 9.85 13.80 4.48 1.80 13.16 3.38 12.10 25.53 64.11 83.84 34.12 31.00 32.15 43.09 31.32 22.19 8.83 6.66 12.63 6.66 5.02 3.80 87.32 13.40 18.61 7.05 10.29 14.43 4.64 1.92 13.68 3.65 12.64 27.48 71.25 85.98 35.27 32.16 33.20 44.22 32.12 23.91 9.18 7.26 13.09 7.29 5.29 4.12 88.96 13.70 19.41 7.29 10.72 15.05 4.79 2.04 14.20 3.93 13.17 31.82 35.28 56.54 73.19 70.84 75.40 66.70 40.27 50.05 26.99 39.29 52.72 35.17 45.05 31.91 67.86 48.28 37.28 37.83 63.03 50.04 41.30 41.30 69.60 73.72 43.88 24.87 61.12 83.48 34.43 31.42 32.51 43.37 30.98 21.42 8.70 6.42 12.65 6.40 4.98 3.66 87.65 13.39 18.69 6.97 10.37 14.23 4.67 1.89 13.80 3.76 12.73 25.77 64.76 83.26 33.47 30.42 31.62 42.35 31.45 22.34 8.87 6.64 12.57 6.81 5.04 3.84 86.26 13.32 18.60 7.01 10.14 14.42 4.56 1.92 13.42 3.55 12.23 25.98 63.93 83.28 33.18 30.44 31.34 42.11 31.62 21.90 9.00 6.46 12.49 6.89 5.08 3.95 86.20 13.38 18.50 7.10 10.09 14.59 4.52 1.89 13.07 3.50 12.35 20.87 18.28 26.16 36.63 33.46 34.24 31.85 15.69 28.47 9.21 15.94 32.89 20.56 20.72 12.56 31.28 21.93 18.86 14.10 32.89 22.51 13.99 24.17 27.94 33.02 22.58 46.42 44.37 21.34 17.00 14.35 12.81 13.43 27.74 29.88 29.48 32.75 25.28 33.60 26.02 35.32 16.18 27.27 37.19 30.56 16.94 24.24 23.35 27.54 11.05 13.01 21.17 17.64 27.47 12.03 28.83 28.87 37.01 29.65 21.62 18.62 27.35 18.34 15.30 23.15 19.05 29.91 14.11 11.60 17.36 15.61 19.00 17.79 21.74 19.69 27.08 29.99 26.35 (25.55) (26.09) 4.81 19.63 19.12 21.43 18.41 (12.05) (1.41) (20.27) (16.81) 7.61 (13.04) (5.30) (22.76) 15.10 (5.34) (18.34) (16.46) 15.95 (1.73) (9.36) (3.37) 16.90 20.01 1.40 www.taonline.com.my MACD DMI MACD DMI MACD Line Signal Diff Recent Signal Signal Change 14.37 17.32 (2.958) BUY SELL -0.54 -0.33 (0.217) SELL SELL -1.47 -0.81 (0.665) SELL SELL 0.26 0.22 0.034 BUY BUY 0.57 0.48 0.084 BUY BUY 0.48 0.40 0.082 BUY BUY 0.53 0.45 0.077 BUY BUY 0.57 0.46 0.114 BUY BUY -0.21 -0.16 (0.045) SELL SELL -0.24 -0.06 (0.173) SELL SELL -0.12 -0.08 (0.036) SELL SELL -0.09 -0.01 (0.081) SELL SELL 0.08 0.07 0.010 BUY BUY -0.17 -0.15 (0.026) SELL SELL -0.03 -0.03 0.003 SELL BUY -0.11 -0.08 (0.025) SELL SELL 0.74 0.56 0.177 BUY BUY 0.02 0.02 0.003 SELL BUY SELL -0.03 0.08 (0.108) SELL SELL -0.04 -0.02 (0.025) SELL SELL 0.13 0.12 0.015 BUY BUY -0.09 -0.10 0.012 SELL BUY - BUY 0.04 0.06 (0.022) SELL SELL -0.01 0.00 (0.014) SELL SELL SELL 0.28 0.26 0.015 BUY BUY 0.10 0.09 0.011 BUY BUY 0.11 0.16 (0.052) BUY 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
  24. 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 Close Target Price % upside EPS ($) PER(x) Div Yield(%) 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 1.49 1.28 12.1 14.1 3.467 2.977 27.96 15.85 -5.63 23.65 27.96 15% 59.16 70.45 16% 4.19 3.13 10.7 14.3 4.202 3.212 69.80 41.51 -1.24 84.30 83.51 -1% 5.63 5.80 15.0 14.5 5.031 5.128 86.09 69.22 2.29 35.13 33.82 -4% 2.41 2.49 14.6 14.1 5.303 5.286 35.26 27.57 7.76 31.89 30.89 -3% 2.39 2.42 13.3 13.2 5.061 5.124 31.99 22.06 4.83 33.14 31.82 -4% 2.40 2.44 13.8 13.6 5.854 5.736 33.23 23.90 8.05 44.25 43.58 -2% 2.61 2.64 16.9 16.8 4.990 5.062 46.06 38.62 5.01 30.73 33.15 7% 1.31 1.48 17.9 15.7 3.277 3.736 32.59 23.82 -1.38 21.90 22.60 3% 0.74 0.93 22.5 17.8 0.717 1.151 27.20 15.88 8.15 8.45 9.65 12% 0.33 0.36 19.4 17.8 3.030 3.089 11.14 8.21 -9.91 4.41 6.15 6.55 6% 0.79 0.48 5.9 9.8 4.894 3.057 7.27 2.40 12.69 13.49 6% 0.63 0.79 15.2 12.2 3.270 3.916 13.28 9.22 2.17 6.36 7.32 13% 0.32 0.55 19.9 11.6 0.000 1.384 7.47 4.42 -3.49 4.94 5.31 7% 0.36 0.37 13.9 13.3 5.870 6.134 5.96 4.39 -1.98 3.53 4.42 20% 0.14 0.19 18.8 14.2 1.020 2.181 5.07 3.30 -12.19 89.42 88.37 -1% 6.12 6.36 14.6 14.1 4.752 4.960 89.88 61.05 2.64 13.31 13.90 4% 0.91 0.98 14.6 13.6 5.500 5.898 13.95 11.27 -1.55 17.83 18.03 1% 1.05 1.13 17.0 15.8 2.984 3.242 19.49 12.04 0.85 6.77 7.98 15% 0.21 0.26 24.6 19.9 1.241 1.566 7.75 5.98 -5.58 10.57 9.92 -7% 0.57 0.59 18.5 17.8 4.541 4.664 10.70 7.94 4.45 14.40 15.90 9% 0.61 0.65 18.0 16.8 2.965 3.319 16.66 13.62 -3.68 4.50 4.82 7% 0.31 0.33 14.3 13.6 5.711 5.933 5.11 4.03 -1.75 1.82 1.84 1% 0.11 0.10 12.8 14.5 5.824 5.604 2.04 1.19 -0.55 14.14 13.19 -7% 0.55 0.60 19.6 17.7 1.881 1.994 14.19 8.63 13.48 3.88 4.34 11% 0.53 0.53 7.38 7.29 3.763 4.588 4.22 2.58 16.52 12.19 12.39 2% 0.62 0.71 19.6 17.1 3.134 3.232 13.62 7.40 -4.99 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
  25. T e c h n i c a l TA Securities V i e w Tuesday , March 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: 23,829.67 (+261.00, +1.11%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Stock Close Name 13-Mar HANG SENG 23,829.67 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 64.35 84.50 6.25 5.06 8.92 24.00 3.90 113.30 5.70 215.40 191.80 95.90 41.75 5.84 15.66 77.00 3.60 31.60 159.90 14.98 79.70 20.40 67.35 24.60 67.60 5.28 45.65 6.06 3.92 9.59 31.85 6.92 41.65 13.24 17.68 9.96 21.40 21.35 14.36 3.98 11.50 11.10 8.50 3.18 2.44 48.80 33.80 38.70 Change Tel: +603-2167 9607 High Lower 261.00 1.35 0.10 0.20 0.15 0.09 0.55 0.12 (0.20) 0.02 3.00 1.70 0.25 0.30 0.04 0.22 (0.75) 0.00 0.75 1.20 0.10 0.95 0.48 (0.30) 0.55 (0.10) 0.13 0.25 0.12 0.08 0.04 0.35 0.09 (0.10) 0.02 0.02 0.10 0.70 0.20 0.20 0.03 0.00 0.16 0.08 (0.04) 0.00 (1.50) 0.00 0.10 23,877.59 23,567.93 64.60 85.25 6.29 5.09 8.96 24.10 3.91 114.00 5.73 215.80 192.80 96.00 42.10 5.87 15.80 78.00 3.65 31.65 160.50 15.06 80.20 20.70 67.85 24.80 68.50 5.30 45.85 6.11 3.97 9.61 32.15 6.94 42.00 13.30 17.84 9.99 21.55 21.45 14.40 4.05 11.56 11.14 8.54 3.25 2.46 49.40 33.95 39.15 63.35 84.45 6.05 4.94 8.79 23.50 3.80 112.90 5.66 212.80 189.80 95.25 41.30 5.79 15.42 76.55 3.56 30.65 158.50 14.88 78.70 19.88 66.45 24.00 67.30 5.16 45.30 5.94 3.80 9.46 31.60 6.80 41.50 13.12 17.50 9.80 20.65 21.10 14.14 3.90 11.44 10.86 8.36 3.16 2.44 48.55 33.55 38.30 RSI Bollinger Bands Low 23,427.36 60.46 83.80 5.99 4.88 8.80 23.16 3.73 107.58 5.66 203.78 187.24 91.81 40.99 5.81 15.64 76.59 3.37 30.68 155.92 14.80 78.67 19.32 57.12 23.23 67.52 5.00 43.63 5.92 3.86 9.23 31.01 5.74 40.10 12.41 17.10 9.17 20.34 21.06 14.04 3.86 10.93 10.73 8.36 2.86 2.29 47.45 31.48 35.74 Mid stsoo@ta.com.my Upper 14d 23,845.71 24,264.05 56.08 64.69 86.06 6.27 5.05 9.25 23.99 3.90 112.21 5.96 210.40 195.68 94.67 41.85 6.03 16.25 78.40 3.53 31.22 160.82 14.97 80.11 19.74 61.86 23.96 69.24 5.28 44.87 6.15 4.11 9.43 32.70 6.74 41.21 13.17 17.65 9.83 21.14 21.62 14.28 4.11 11.40 11.31 8.51 3.08 2.37 48.98 32.88 37.73 68.92 88.32 6.55 5.21 9.70 24.82 4.08 116.83 6.27 217.02 204.12 97.54 42.70 6.25 16.86 80.21 3.68 31.77 165.71 15.13 81.54 20.16 66.60 24.69 70.96 5.56 46.10 6.39 4.36 9.62 34.39 7.75 42.32 13.93 18.19 10.50 21.94 22.17 14.51 4.37 11.87 11.89 8.65 3.31 2.44 50.50 34.28 39.71 50.03 38.23 55.97 56.89 29.39 58.73 58.29 59.94 33.55 64.23 46.05 61.24 55.06 39.63 41.53 42.81 57.78 59.95 53.18 54.94 51.36 68.39 77.32 62.10 36.44 55.38 65.85 51.17 42.18 61.47 42.71 59.48 60.08 53.95 59.20 61.46 58.40 49.92 59.51 47.99 57.25 42.47 55.31 64.12 65.23 51.18 57.43 61.69 Moving Averages 10d 23,675.75 63.20 85.04 6.20 4.99 9.05 23.62 3.84 113.38 5.83 209.82 191.76 95.87 41.47 5.95 16.05 79.00 3.55 31.06 158.96 14.99 79.65 19.74 63.21 23.88 68.62 5.26 45.25 6.08 4.01 9.45 32.05 7.07 41.60 13.44 17.66 10.02 20.91 21.46 14.29 4.07 11.56 11.06 8.49 3.17 2.39 49.33 33.43 38.54 30d www.taonline.com.my DMI 50d DI + DMI MACD DI - ADX Diff Line Signal Diff MACD Recent Signal DMI MACD Signal Change 23,696.10 23,295.79 29.84 16.70 26.82 13.15 78.80 139.49 (60.685) BUY SELL - - 65.27 86.76 6.13 4.96 9.39 23.57 3.80 110.83 6.01 208.55 194.13 93.73 41.46 6.07 16.23 77.93 3.47 31.14 160.59 14.90 79.74 19.65 60.60 23.80 69.74 5.19 44.33 6.03 4.09 9.40 32.87 6.50 40.80 13.07 17.26 9.60 20.82 21.47 14.00 4.11 11.19 11.38 8.37 2.93 2.35 48.50 32.83 36.97 64.76 85.98 6.01 4.87 9.56 22.61 3.69 108.14 6.04 203.72 190.71 92.59 40.84 6.01 16.02 76.52 3.47 30.41 156.41 14.64 78.73 18.87 58.95 23.08 68.29 4.96 43.58 5.90 3.99 9.24 32.29 6.34 39.91 12.81 16.44 9.25 19.89 20.97 13.59 3.85 10.92 11.36 8.13 2.76 2.34 47.52 33.51 36.23 29.97 17.91 19.17 14.40 35.17 18.26 14.26 12.40 35.85 19.86 22.31 19.69 17.23 26.37 22.70 24.68 19.06 18.23 21.48 15.70 17.87 12.03 10.58 15.53 23.64 16.86 12.31 20.92 24.22 13.73 17.83 15.06 8.24 18.41 17.70 16.42 17.61 20.28 11.61 26.28 15.62 20.59 15.80 9.29 14.48 16.47 16.53 14.55 21.17 30.82 20.65 20.18 31.98 26.21 28.13 40.92 23.68 13.43 16.57 28.77 21.74 14.06 17.64 43.06 12.32 16.13 26.30 22.41 22.04 26.76 34.06 30.12 25.15 34.10 31.41 16.41 15.42 22.74 16.03 41.95 50.12 34.78 27.05 42.30 26.46 15.37 33.23 24.60 34.05 26.92 19.23 56.88 43.22 30.70 20.20 24.46 4.15 (8.98) 3.23 12.08 (22.20) 9.87 9.05 16.05 (22.16) 8.24 1.43 6.59 10.95 (6.72) (7.18) (5.46) 5.15 5.45 3.71 3.50 0.76 19.19 33.52 16.87 (8.54) 7.68 12.34 (1.33) (5.82) 12.56 (3.31) 12.00 17.25 4.17 4.60 7.94 8.90 (3.77) 6.19 1.89 9.84 (9.39) 1.98 17.38 39.10 6.95 9.71 15.43 -0.60 -0.56 0.04 0.03 -0.20 0.23 0.03 1.51 -0.09 2.33 -0.49 1.01 0.13 -0.04 -0.08 0.50 0.05 0.16 0.20 0.08 0.09 0.26 1.84 0.25 -0.30 0.07 0.52 0.03 -0.03 0.07 -0.25 0.21 0.52 0.16 0.32 0.22 0.25 0.07 0.19 0.03 0.21 -0.13 0.09 0.14 0.03 0.55 0.13 0.75 -0.51 -0.31 0.08 0.05 -0.17 0.36 0.06 1.77 -0.05 2.34 0.40 1.00 0.21 -0.01 0.02 0.77 0.03 0.21 0.82 0.11 0.36 0.28 1.41 0.25 0.03 0.11 0.55 0.06 0.01 0.07 -0.09 0.24 0.55 0.20 0.41 0.26 0.34 0.17 0.24 0.06 0.22 -0.10 0.12 0.14 0.02 0.60 -0.08 0.71 (0.092) (0.249) (0.037) (0.021) (0.028) (0.128) (0.024) (0.260) (0.034) (0.003) (0.882) 0.011 (0.080) (0.032) (0.093) (0.271) 0.012 (0.057) (0.614) (0.032) (0.264) (0.013) 0.425 (0.002) (0.330) (0.038) (0.034) (0.037) (0.037) 0.008 (0.159) (0.025) (0.026) (0.042) (0.091) (0.042) (0.095) (0.099) (0.043) (0.039) (0.014) (0.030) (0.029) 0.000 0.009 (0.053) 0.214 0.039 BUY SELL BUY BUY SELL BUY BUY BUY SELL BUY BUY BUY BUY SELL SELL SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL SELL BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL BUY BUY SELL BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY - SELL SELL - 34.11 8.93 22.40 26.48 12.97 28.13 23.31 28.45 13.69 28.10 23.73 26.28 28.19 19.65 15.52 19.22 24.21 23.68 25.19 19.20 18.63 31.21 44.10 32.40 15.11 24.54 24.65 19.59 18.39 26.30 14.52 27.06 25.49 22.58 22.30 24.36 26.51 16.50 17.80 28.17 25.45 11.19 17.78 26.66 53.59 23.42 26.25 29.98 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 3
  26. TA Securities A Member of the TA Group Corporate News : Chinese insurers may pick up the pace of overseas investing as they pursue diversification and higher yields. These insurers held about 46 billion yuan of investment outside China as the end of 2016, or 2.3% of assets. Insurers are bound by law to limit investment abroad to 15% of assets, implying at least another 1.9 trillion yuan can still be deployed. – Bloomberg. Technical Comments: Ping An Insurance needs sustained strength above the upper Bollinger band (HKD42.70) to extend higher towards the 50%FR (HKD46.70), followed by stronger resistance at 61.8%FR (HKD50.52), while crucial support is spotted at the 23.6%FR (HKD38.14). PING AN INSURANCE HKD41.75 (+0.30) \\ Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS HKD HKD HKD DMI 42.70 41.85 40.99 BUY SIMPLE MOVING AVERAGES HKD 41.47 HKD 41.46 HKD 40.84 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 3
  27. 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 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 64.35 64.46 0% 84.50 109.33 23% 6.25 7.31 15% 5.06 5.87 14% 0.8 0.8 8.92 11.21 20% 0.0 0.6 N/A 13.2 2.9 3.6 10.88 8.46 -8.04 24.00 27.21 12% 0.7 0.9 32.1 23.9 1.0 1.3 24.95 16.00 18.81 3.90 4.36 11% 0.6 0.6 6.1 6.0 4.4 4.4 4.08 2.90 13.37 113.30 128.91 12% 8.8 9.5 12.9 12.0 3.5 3.7 123.30 85.40 15.61 2017 2018 2017 2018 2017 2018 High Low YTD 0.6 0.7 13.8 12.5 0.8 0.8 69.10 44.50 3.37 5.3 5.7 14.2 13.1 2.8 3.1 99.30 80.30 2.80 0.9 0.9 6.1 6.0 4.4 4.4 6.47 4.50 4.69 5.8 4.5 4.6 5.8 5.20 3.82 8.82 5.70 7.22 21% 0.0 0.3 103.5 17.4 0.7 2.3 6.38 4.76 -1.38 215.40 239.70 10% 4.8 6.1 39.9 31.5 0.2 0.3 220.80 148.40 13.55 191.80 193.25 1% 5.6 6.1 34.3 31.2 2.7 2.9 213.20 172.10 4.69 95.90 113.86 16% 8.2 8.9 11.7 10.8 2.8 3.1 103.90 80.60 9.10 41.75 55.53 25% 3.4 3.5 10.8 10.7 1.3 1.4 32.50 7.60 5.84 7.13 18% 0.3 0.4 15.1 12.2 3.1 3.8 6.34 4.66 6.18 15.66 18.04 13% 1.3 1.4 10.8 9.6 3.0 3.6 17.70 44.15 11.40 7.26 77.00 84.35 68.15 79.00 3% 5.0 5.2 15.3 14.9 3.7 3.9 3.60 3.49 -3% 0.0 0.0 13.2 12.5 0.9 0.8 5.15 3.24 5.57 31.60 34.37 8% 2.2 2.5 14.2 12.6 5.6 4.1 31.75 20.92 13.87 159.90 155.88 -3% 9.3 10.2 17.2 15.7 3.9 4.2 164.40 127.60 10.81 14.98 13.05 -15% 0.6 0.6 25.2 24.8 2.4 2.5 15.50 12.67 9.02 79.70 76.30 -4% 4.3 5.3 18.6 15.0 3.9 4.1 94.40 72.20 7.63 20.40 19.28 -6% 1.2 1.1 17.1 18.9 67.35 64.24 -5% 4.6 4.7 14.7 14.3 3.2 3.3 68.45 39.00 30.65 24.60 28.53 14% 3.1 3.5 7.8 7.1 3.0 3.4 27.85 20.15 19.71 67.60 3.7 3.7 20.70 24.09 76.42 12% 3.6 3.5 18.9 19.2 5.7 4.0 62.78 5.79 5.28 5.27 0% 0.4 0.4 11.3 11.6 4.8 4.7 5.79 4.07 21.10 45.65 46.33 1% 3.8 3.1 11.9 14.9 3.2 3.2 48.20 39.64 10.67 6.06 5.86 -3% 0.9 0.9 6.1 6.2 4.2 4.2 6.44 4.46 8.02 3.92 4.37 10% 0.1 0.2 26.8 14.1 0.5 1.6 4.88 2.92 6.52 9.59 11.11 14% 0.0 0.2 328.2 35.0 0.6 1.2 10.26 7.70 31.85 25.31 -26% 2.1 1.7 15.5 18.3 2.9 2.5 34.75 26.35 7.24 6.92 6.11 -13% 0.0 0.2 N/A 43.0 0.0 1.1 7.62 5.34 13.63 41.65 39.33 -6% 1.6 1.6 26.3 25.6 7.9 2.7 44.50 34.92 10.48 13.24 2% 0.8 14.48 10.96 19.11 8% 0.4 0.7 47.9 26.5 0.5 1.0 18.34 12.85 14.81 9.96 11.27 12% 0.8 0.8 12.8 12.0 4.4 4.4 10.46 6.91 21.46 21.40 27.47 22% 2.4 2.8 8.9 7.7 3.0 3.6 23.85 16.50 22.71 21.35 23.42 9% 13.3 3.1 3.4 24.95 18.80 14.36 14.17 -1% 1.9 1.5 7.7 9.7 5.7 5.4 15.50 10.70 16.56 3.98 4.26 7% 0.0 0.2 107.3 19.9 0.0 0.2 4.45 2.25 24.38 11.50 9.30 -24% 0.2 0.0 62.2 1277.8 0.6 0.6 14.00 10.00 12.75 11.10 12.25 9% 1.5 1.5 7.3 7.2 3.1 3.1 12.78 10.54 0.00 8.50 8.89 4% 0.1 0.1 14.2 13.5 1.1 0.4 9.48 7.28 9.11 22.8 20.5 0.3 0.4 2.31 29.80 1.4 0.8 1.6 15.8 16.0 15.2 3.9 3.9 6.20 17.68 3.18 13.52 75.73 13.64 8.07 3.38 13.94 10.97 3.13 -2% 0.0 0.0 2.44 2.79 13% 0.0 0.0 N/A N/A 0.0 0.0 3.00 2.00 7.96 48.80 56.69 14% 0.4 0.4 17.0 15.4 0.3 0.3 54.15 41.50 11.54 33.80 37.60 10% 0.2 0.2 21.9 20.0 0.7 0.8 39.30 24.60 0.30 38.70 41.94 8% 1.6 1.7 24.4 22.6 1.2 1.4 40.10 21.87 14.50 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 3 of 3
  28. T e c h n i c a l TA Securities V i e w Tuesday , March 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: 3,147.15 (+13.80, +0.44%) 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 Close Change 13-Mar 3,147.15 13.80 3.97 19.11 9.61 21.49 65.16 3.59 7.00 3.69 1.00 6.75 7.58 9.99 2.09 0.21 10.50 39.20 3.50 43.72 0.39 3.68 1.96 1.94 3.18 1.86 2.49 2.89 3.69 0.53 1.11 0.03 0.18 0.05 0.10 0.16 0.01 0.00 (0.01) (0.01) (0.11) 0.09 0.06 0.00 (0.01) 0.35 0.20 0.01 (0.16) 0.01 0.02 (0.02) 0.01 (0.04) (0.06) (0.02) 0.01 (0.01) 0.01 (0.01) Tel: +603-2167 9607 stsoo@ta.com.my High Low Bollinger Bands RSI Lower Mid Upper 14d 3,150.83 3,132.23 3,076.42 3,115.82 3,155.21 62.10 Moving Averages 10d 30d 50d DI + 3,127.48 3,100.13 3,057.95 32.18 DI 16.42 ADX 31.36 Diff 15.76 MACD DMI MACD DMI MACD Line Signal Diff Recent Signal Signal Change 22.61 24.48 (1.864) BUY SELL - 4.00 19.17 9.66 21.57 65.20 3.60 7.02 3.73 1.01 6.84 7.58 10.00 2.11 0.21 10.57 39.50 3.51 43.95 0.39 3.68 1.98 1.95 3.22 1.92 2.52 2.91 3.70 0.53 1.13 3.95 18.95 9.54 21.38 64.67 3.58 6.95 3.66 0.99 6.72 7.49 9.96 2.09 0.20 10.14 38.69 3.48 43.39 0.38 3.63 1.95 1.94 3.16 1.85 2.47 2.88 3.67 0.52 1.08 3.93 19.00 9.52 21.52 65.20 3.62 6.96 3.62 0.99 6.99 7.49 9.94 2.09 0.22 9.76 39.32 3.48 43.88 0.38 3.67 2.00 1.94 3.25 1.94 2.50 2.88 3.69 0.52 1.08 17.41 21.36 18.77 16.09 15.01 23.12 14.47 13.70 15.82 22.47 18.40 12.52 18.82 23.88 9.20 15.98 10.33 25.31 26.48 15.67 21.73 14.37 18.33 18.04 18.45 19.12 7.95 25.41 15.22 17.66 18.11 10.63 21.00 35.95 30.95 24.91 44.64 22.45 43.21 11.55 15.65 16.02 27.29 40.37 29.49 18.44 15.08 30.50 26.13 27.40 16.44 32.91 43.95 13.95 15.02 37.05 16.28 48.08 8.92 8.11 10.34 8.56 8.98 (11.02) 9.89 21.54 9.87 6.14 6.21 3.75 (1.16) (3.14) 31.64 9.50 10.32 (1.98) (11.52) 6.20 (10.75) (5.22) 5.86 19.74 (0.44) 2.75 7.46 (7.44) 22.19 0.01 0.15 0.03 0.15 1.05 -0.07 0.06 0.08 0.01 0.15 0.00 0.02 -0.01 0.00 0.23 0.55 -0.01 0.60 -0.01 0.07 -0.02 -0.01 0.03 0.11 0.01 0.00 0.03 -0.01 0.07 3.88 18.24 9.39 20.77 61.90 3.46 6.70 3.43 0.96 6.37 7.41 9.81 2.06 0.20 8.93 37.10 3.45 40.13 0.35 3.43 1.94 1.92 3.11 1.38 2.38 2.76 3.64 0.50 0.83 3.95 18.80 9.52 21.40 64.44 3.71 6.89 3.58 0.99 6.84 7.54 9.91 2.10 0.23 9.56 38.85 3.48 42.74 0.40 3.63 2.04 1.95 3.23 1.77 2.47 2.84 3.68 0.53 1.01 4.02 19.35 9.65 22.04 66.99 3.96 7.09 3.73 1.02 7.31 7.68 10.00 2.15 0.26 10.19 40.60 3.51 45.36 0.44 3.83 2.15 1.99 3.35 2.15 2.55 2.92 3.72 0.57 1.19 58.57 58.96 57.37 56.06 59.80 34.51 57.55 64.42 54.61 50.85 55.39 56.42 48.09 46.00 75.50 56.25 52.51 56.87 41.61 64.86 34.73 45.23 46.83 59.79 53.00 54.51 58.27 45.53 66.04 3.93 18.82 9.54 21.19 63.85 3.78 6.85 3.53 0.98 6.65 7.54 9.90 2.10 0.21 9.51 38.56 3.48 42.50 0.41 3.53 2.03 1.96 3.20 1.68 2.46 2.85 3.65 0.54 0.95 3.87 18.56 9.43 21.05 62.08 3.78 6.81 3.38 0.96 6.43 7.46 9.88 2.11 0.20 9.21 37.66 3.51 41.99 0.41 3.45 2.02 1.96 3.15 1.60 2.47 2.90 3.57 0.54 0.90 26.33 29.46 29.11 24.65 23.99 12.10 24.36 35.25 25.69 28.61 24.61 16.26 17.66 20.74 40.85 25.48 20.65 23.33 14.96 21.87 10.99 9.14 24.18 37.78 18.00 21.87 15.41 17.97 37.41 DMI www.taonline.com.my 0.02 0.15 0.03 0.18 1.08 -0.05 0.06 0.08 0.01 0.19 0.01 0.02 -0.01 0.01 0.17 0.58 -0.01 0.52 -0.01 0.08 -0.01 0.00 0.04 0.11 0.01 -0.01 0.04 -0.01 0.06 (0.006) 0.003 (0.005) (0.030) (0.027) (0.014) 0.007 (0.005) (0.001) (0.043) (0.007) 0.005 (0.001) (0.005) 0.064 (0.038) 0.005 0.089 (0.001) (0.010) (0.012) (0.003) (0.013) 0.003 0.005 0.008 (0.007) (0.000) 0.010 BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY SELL SELL BUY BUY BUY SELL SELL BUY SELL SELL BUY BUY SELL BUY BUY SELL BUY SELL BUY SELL SELL SELL - SELL SELL BUY SELL SELL SELL SELL BUY BUY SELL SELL BUY SELL BUY BUY SELL SELL SELL SELL SELL BUY BUY SELL BUY BUY SELL SELL BUY - 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
  29. 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 3.97 4.25 19.11 9.61 YZJSGD SP YZJ % upside EPS ($) PER(x) Div Yield(%) 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 7% 0.2 0.3 16.3 15.4 4.5 4.7 4.36 3.59 8.77 19.44 2% 1.791 1.962 10.7 9.7 3.2 3.3 19.37 14.63 10.21 9.56 -1% 0.9 0.9 11.2 10.3 3.8 4.0 9.78 8.21 7.74 21.49 21.18 -1% 1.9 2.1 11.1 10.4 3.4 3.5 21.95 17.41 5.34 65.16 63.80 -0.02 4.0 4.3 16.1 15.1 2.4 2.5 67.27 52.42 17.94 3.59 3.80 6% 0.2 0.2 12.8 11.9 2.0 2.2 4.00 2.96 0.00 7.00 7.41 6% 0.4 0.4 17.7 17.3 2.8 2.8 7.35 5.77 10.58 3.69 4.01 8% 0.2 0.2 17.9 18.5 2.7 2.8 3.79 2.85 22.19 1.00 1.06 6% 0.0 0.0 28.4 25.5 2.9 3.0 1.04 0.69 9.94 6.75 6.53 -3% 0.5 0.6 13.1 12.2 3.3 3.6 7.23 5.10 16.58 7.58 7.81 3% 0.3 0.4 22.6 20.9 3.9 4.2 8.05 6.96 5.87 9.99 9.71 -3% 0.4 0.4 22.4 23.0 3.5 2.7 11.67 9.60 3.31 2.09 2.03 -3% 0.1 0.1 28.2 27.9 2.1 2.1 2.23 1.92 0.00 0.21 0.22 0.07 0.0 0.0 9.7 6.6 0.0 1.0 0.37 0.11 20.59 10.50 10.61 1% 0.6 0.7 16.3 15.2 1.4 1.4 10.59 7.41 26.81 39.20 38.80 -1% 2.7 2.9 14.6 13.6 0.8 0.8 40.56 27.35 18.07 3.50 3.19 -10% 0.2 0.2 22.9 22.7 4.9 4.8 4.13 3.45 -0.85 43.72 53.00 18% 2.1 2.4 14.7 13.1 1.8 2.0 45.20 31.60 6.04 0.39 0.39 1% 0.0 0.0 17.0 15.1 1.8 1.8 0.45 0.33 -10.47 3.68 3.62 -2% 0.2 0.2 21.3 20.3 4.2 4.3 3.70 3.01 13.93 1.96 1.99 2% 0.1 0.1 14.7 14.7 2.3 2.4 2.17 1.58 -0.76 1.94 2.13 9% 0.1 0.1 17.0 16.6 5.7 5.7 2.25 1.87 2.92 3.18 3.45 8% 0.2 0.3 13.2 11.0 2.9 3.3 3.38 2.44 11.58 1.86 1.60 -17% 0.1 0.1 33.2 25.8 1.5 1.8 2.09 1.22 34.78 2.49 2.94 15% 0.2 0.2 15.9 15.3 4.4 4.8 3.02 2.37 0.81 2.89 2.65 -9% 0.2 0.2 17.7 18.6 5.5 5.5 3.97 2.73 2.85 3.69 3.55 -4% 0.2 0.2 24.0 23.8 4.1 4.0 3.91 3.35 9.50 0.53 0.58 9% 436 583 11.4 8.5 12299 17959 0.63 0.44 0.00 1.11 1.05 -5% 0.5 0.5 11.3 11.9 17.3 17.3 1.19 0.71 35.58 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