Bursa Malaysia Daily Market Report - 28 March

Transcription

1. Tuesday , 28 March, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED REPORTS’ News 1. Daily Market Commentary 2. Daily Brief Fundamental Reports 1. IJM Plantation Berhad: Outlook Remains Resilient 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, 28 March 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (27.03.2017) Volume (mil) +/-chg (RMmn) Main Market 2,770.3 350.7 2,305.0 Warrants 222.7 85.0 33.9 ACE Market 963.3 -152.4 148.6 Bond 15.4 -9.0 1.7 ETF 0.0 -0.04 0.0 Total 3,971.8 2,489.2 Off Market 122.2 91.3 577.0 Value +/-chg -21.4 14.9 -30.5 -1.0 -0.06 490.3 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) 27.9 26.0 25.0 10.5 9.4 6.1 5.0 4.4 3.4 1.3 Up Down 249 428 61 95 46 56 5 4 2 3 363 586 % chg % YTD chg 1,744.95 12,351.24 16,799.81 1,747.50 -0.80 -14.62 -150.24 -4.00 -0.05 -0.12 -0.89 -0.23 6.29 7.72 14.16 6.85 20,550.98 5,840.37 7,293.50 18,985.59 2,155.66 24,193.70 3,126.88 1,570.50 5,541.20 3,266.96 2,039.41 5,746.70 -45.74 11.64 -43.32 -276.94 -13.29 -164.57 -16.02 -3.01 -25.93 -2.49 -7.34 -6.85 -0.22 0.20 -0.59 -1.44 -0.61 -0.68 -0.51 -0.19 -0.47 -0.08 -0.36 -0.12 3.99 8.49 2.11 -0.67 6.38 9.97 8.54 1.79 4.62 5.26 3.57 1.43 @ @ @ @ @ @ @ @ @ @ (RM) 9.35 8.98 1.10 0.77 0.90 0.09 4.39 0.47 0.85 0.88 Exchange Rate USD/MYR 4.4102 -0.0143 USD/JPY 110.36 -0.6700 EUR/USD 1.087 0.0061 Counter Mkt Cap. (RM’mn) MAYBANK 91,434 TENAGA 77,437 PBBANK 76,921 IHH 49,308 GENTING 35,375 HLBANK 27,622 PETDAG 23,624 RHBBANK 20,612 YTLCORP 15,592 ASTRO 14,691 Chg (RM) -0.02 -0.02 -0.04 -0.01 -0.17 -0.10 -0.02 -0.16 -0.02 -0.04 Review & Outlook Bursa Malaysia stocks eased off earlier highs Monday to close lower due to late profit-taking amid weaker regional peers after the flop of the US President's proposed healthcare reform bill raised doubts over the success of other major policy proposals. The KLCI eased 0.8 points to close near session lows at 1,744.95, off an earlier high of 1,750.35, as losers beat gainers 586 to 363 on total turnover of 3.97bn shares worth RM2.49bn. The overnight Wall Street dip should filter through to dampen the region, setting up the local market for a profit-taking correction needed to neutralize excesses. Better supports for the index upon a breakdown of the rising 10-day moving average at 1,741 will be 1,721 and 1,704, representing the 30 and 50-day mas. Immediate overhead resistance is from 1,758, the 23.6%FR of the 1,310 to 1,896 upswing matching last week's high, with stronger hurdles from 1,782, the 76.4%FR of the 1,867 to 1,503 correction, followed by 1,800 and the 18/5/15 high of 1,823. Hook down momentum indicators triggered by the late sell-off on Affin shares point to further near-term correction potential towards the 76.4%FR (RM2.78), with a breakdown to target the 61.8%FR (RM2.65) before pausing. Key overhead resistance is from the 28/4/15 peak (RM3.00). Similarly, AMMB shares may correct further towards the 61.8%FR (RM4.61), with better support from the 50%FR (RM4.48), before buyers cushion downside. A potential double-top resistance reside near the 19/10/15 high (RM5.05), matching the upper Bollinger band. • • • Top 10 KLCI Movers Based on Mkt Cap. Off Market SIME MAYBANK YONGTAI HOHUP LAYHONG SGB-PA BIMB DUTALND BJASSET BAHVEST Value/ Volume 0.83 0.15 0.15 0.11 1.73 0.63 4.72 Vol. (mn) 7.16 6.80 3.46 1.49 2.30 0.51 0.94 1.67 4.00 0.91 Commodities Futures Palm Oil (RM/mt) 2,693.00 -62.00 Crude Oil ($/Barrel) 47.85 -0.29 Gold ($/tr.oz.) 1,254.10 10.80 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. LISTING ON: 28/03/2017. • • • • • • • • • News Bites CIMB Group Holdings Bhd is expecting to officially kick off its planned 50:50 strategic partnership in the stockbroking business with China Galaxy International Financial Holdings Ltd by the second quarter of 2017. Scomi Group Bhd's 30% associate company has sealed a power purchase agreement with Tenaga Nasional Bhd to develop a 30MWac large scale solar photovoltaic power plant at Sungai Petani, Kedah on a build-own-operate basis. Top Glove Corporation Bhd entered into a JV agreement with Fimatec Limited for the purpose of engaging in the business of manufacturing rubber reinforcing agent for use in the manufacturing of gloves. Perdana Petroleum Bhd's wholly-owned subsidiary has bagged a 3year contract from Petronas Carigali Sdn Bhd for the provision of spot charter marine vessels services. IHH Healthcare Bhd's indirect wholly-owned unit, M&P Investments Pte Ltd, has received the business licence for the incorporation of a 60%-owned subsidiary in China. Sunsuria Bhd and Savanna Landscaping founder Gan Teck Boon have entered into a joint venture agreement to operate and manage the landscape and nursery functions of Sunsuria's group of businesses. BCB Bhd is acquiring 6 adjoining lots of freehold agricultural lands collectively measuring 2,035,341 square foot in Batu Pahat, Johor from Wellington Tan and Tan Seng Koon Shenton for RM34.6mn. O&C Resources Bhd proposed to undertake a private placement representing up to 10% of its enlarged shares which assumes full conversion of its irredeemable convertible preference shares, outstanding warrants, and outstanding options pursuant to the group's share issuance scheme. Metronic Global Bhd is acquiring 4 plot of leasehold lands collectively measuring 2,262.8 square metres for RM7.8mn. Permodalan Nasional Bhd is targeting to fast track the listing of its infrastructure unit Projek Lintasan Kota Holdings Sdn Bhd as soon as end 2018 or at least by early 2019. Profits of Chinese industrial firms surged 31.5% in the first two months of 2017 from a year earlier as prices of commodities from coal to iron ore raced higher, while strong imports also pointed to a pick-up in activity. Bank of Japan board members viewed that the bank should not rush to action and it should pursue monetary easing under the current framework with patience, the summary of opinions from the monetary policy meeting showed. 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 28, 2017 FBMKLCI: 1,744.95 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Daily Brief Market View, News In Brief: Corporate, Economy, and Share Buybacks THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TA Research Team Coverage Market View Tel: +603-2072 1277 taresearch@ta.com.my www.taonline.com.my Spillover Weakness from Overnight US Fall Bursa Malaysia stocks eased off earlier highs Monday to close lower due to late profit-taking amid weaker regional peers after the flop of the US President’s proposed healthcare reform bill raised doubts over the success of other major policy proposals. The KLCI eased 0.8 points to close near session lows at 1,744.95, off an earlier high of 1,750.35, as losers beat gainers 586 to 363 on total turnover of 3.97bn shares worth RM2.49bn. Better Supports at 1,721 & 1,704 The overnight Wall Street dip should filter through to dampen the region, setting up the local market for a profit-taking correction needed to neutralize excesses. Better supports for the index upon a breakdown of the rising 10-day moving average at 1,741 will be 1,721 and 1,704, representing the 30 and 50-day mas. Immediate overhead resistance is from 1,758, the 23.6%FR of the 1,310 to 1,896 upswing matching last week’s high, with stronger hurdles from 1,782, the 76.4%FR of the 1,867 to 1,503 correction, followed by 1,800 and the 18/5/15 high of 1,823. Take Profit on Affin & AMMB Hook down momentum indicators triggered by the late sell-off on Affin shares point to further near-term correction potential towards the 76.4%FR (RM2.78), with a breakdown to target the 61.8%FR (RM2.65) before pausing. Key overhead resistance is from the 28/4/15 peak (RM3.00). Similarly, AMMB shares may correct further towards the 61.8%FR (RM4.61), with better support from the 50%FR (RM4.48), before buyers cushion downside. A potential double-top resistance reside near the 19/10/15 high (RM5.05), matching the upper Bollinger band. Asian Markets Stumble on Trump Healthcare Setback Asian markets fell on Monday as investors continued to worry about the Trump administration’s ability to push through the policy initiatives whose prospects had helped propel stocks the past few months. The scrapping Friday of an already-delayed vote on a health-care plan, after Republicans in the House of Representatives couldn’t muster enough support, has investors now fretting about other efforts, including a tax overhaul and infrastructure spending. Japan's Nikkei share average skidded 1.4 percent, wallowing at a six-week low and deepening last week's 1.3 percent loss, on pressure from a resurgent yen. The Nikkei ended at 18,985.59 points, plumbing to its lowest level since Feb. 9 and losing 0.7 percent for the month so far. Australia's ASX 200 also closed down 0.12 percent or 6.9 points at 5,746.69, weighed by its materials sub-index which fell 1.52 percent. Meanwhile, China stocks slipped on Monday, as any optimism felt from data showing surging profits at industrial firms was offset by fresh property curbs and signs that monetary policy may be further tightened. The blue-chip CSI300 index fell 0.3 percent, to 3,478.04 points, while the Shanghai Composite Index shed 0.1 percent to 3,266.96 points. Page 1 of 8
4. TA Securities 28-Mar-17 A Member of the TA Group Trump Agenda Weighed on Wall Street The S &P 500 cut earlier losses on Monday to end slightly lower, while the Dow declined for an eighth straight session, as investors assessed how the defeat of President Donald Trump's first major legislative action would impact the rest of his agenda. The Trump administration was dealt a body-blow Friday after a House bill aimed at replacing Obamacare was pulled from the floor. The GOP bill faced opposition not just from Democrats, but also from conservative and more moderate Republicans, and was not able to secure enough votes to pass. With stocks soaring to record highs after Trump's election, investors are concerned about the fate of his economic plan, including tax reform and infrastructure spending. But some analysts and investors are hopeful the healthcare bill's failure will pave the way for quicker action on legislation deemed desirable by investors, namely tax reform. The telecoms sector fell 0.7 percent while financial shares dropped 0.5 percent. Healthcare climbed 0.4 percent, helped by hospital stocks after the healthcare bill's failure. The Dow Jones Industrial Average fell 45.74 points, or 0.22 percent, to 20,550.98, the S&P 500 lost 2.39 points, or 0.1 percent, to 2,341.59 and the Nasdaq Composite added 11.64 points, or 0.2 percent, to 5,840.37. Page 2 of 8
5. TA Securities 28-Mar-17 A Member of the TA Group News In Brief Corporate Strong Elegance Sdn Bhd (SESB), a company in which Scomi Group Bhd has a 30% equity interest, has sealed a power purchase agreement (PPA) with Tenaga Nasional Bhd. Under the PPA, SESB will undertake to develop a 30MWac large scale solar photovoltaic power plant at Bandar Sungai Petani at Daerah Kuala Muda, Kedah on a build-own-operate basis. (Bursa Malaysia) Conglomerate Sime Darby Bhd saw a total of 27.9mn shares traded off-market on Monday afternoon. Representing 0.41% of the group’s total paid-up of 6.8bn shares, the shares were crossed at an average price of RM9.35 per share, 5.0sen below last Friday’s last traded price of RM9.40 per share. (The Star) CIMB Group Holdings Bhd is expecting to officially kick off its planned 50:50 strategic partnership in the stockbroking business with China Galaxy International Financial Holdings Ltd by the second quarter of 2017. (The Edge) IHH Healthcare Bhd's indirect wholly-owned unit, M&P Investments Pte Ltd, has received the business licence for the incorporation of a 60%-owned subsidiary named ParkwayHealth Zifeng Nanjing OBGYN Hospital Company Limited (ParkwayHealth Zifeng) in China. The principal activity of ParkwayHealth Zifeng is the management and operation of medical and health related facilities and services. The validity period of the licence is from 21 March 2017 to 20 March 2037. (Bursa Malaysia) Comments: The announcement does not come as a surprise. The receipt of the business license marks the group’s progress towards the development of a women and children’s specialty hospital in the central of Nanjing, China with an estimated development cost of RMB180.0mn (RM115.2mn). Hence, overall, we are positively neutral on the announcement. We are maintaining our Hold recommendation on IHH with a TP of RM6.40 per share. Top Glove Corporation Bhd (Top Glove) entered into a joint venture (JV) agreement with Fimatec Limited (Fimatec), a Japanese incorporated company engaged in the business of manufacturing industrial inorganic chemicals, for the purpose of engaging in the business of manufacturing rubber reinforcing agent for use in the manufacturing of gloves. Top Glove and Fimatec’s respective stake in the proposed JV company, TG FMT Sdn Bhd, would respectively be at 70% and 30%. Via the JV, the group aims to reduce overall production cost, improve glove quality and production efficiency through the supply of good and consistent quality of rubber reinforcing agent. The JV is expected to commence operations by the first quarter of 2018. (Bursa Malaysia) Comments: We are not surprised on the group’s latest development as it has continuously been on the lookout for mergers and acquisitions and JVs in related industries. We see value in the JV as the group will be able to leverage of Fimatec’s experience in the business of manufacturing industrial inorganic chemicals. According to management, the rubber reinforcing agent will not just increase the tensile strength of gloves but also contribute to reduced usage of rubber, albeit the quantum was not disclosed. We also note that the JV will be developed at one of the group’s existing plant in Meru, Klang with a CAPEX of RM25.0mn which is aligned to the group’s previously guided CAPEX assumptions of RM250-300mn for FY17. All in, while the latest development is positive, we are maintaining our Sell recommendation on Top Glove with a TP of RM5.05 per share. Perdana Petroleum Bhd’s wholly-owned subsidiary, Perdana Nautika Sdn Bhd (PNSB), has bagged a 3-year contract from Petronas Carigali Sdn Bhd (PCSB) for the provision of spot charter marine vessels services. The contract is with effect from 15 March 2017 until 14 March 2020 with an extension option of 2-years exercisable by PCSB. Under the umbrella contract, PNSB was awarded 4 packages by PCSB to provide marine vessels for: i) anchor handling tug/supply vessel 100MT and below bollard pull; ii) anchor handling tug/supply vessel above 100MT bollard pull; iii) workboat; and iv) work barge. The total value of the contract will depend on the actual number of days the vessels are on-hire based Page 3 of 8
6. TA Securities 28-Mar-17 A Member of the TA Group on instructions from PCSB from time to time during the contract period . (Bursa Malaysia) Sunsuria Bhd and Savanna Landscaping founder Gan Teck Boon have entered into a joint venture agreement to operate and manage the landscape and nursery functions of Sunsuria’s group of businesses. Sunsuria will be investing RM100mn into the total landscaping budget for its landmark township Sunsuria City, which covers individual plot landscape work and township streetscape. (Bursa Malaysia) Vitrox Corporation Bhd proposed a final dividend of 4.0sen per share for the financial year ended 31 December 2016, subject to approval by shareholders at the group’s forthcoming annual general meeting. (Bursa Malaysia) Bison Consolidated Bhd’s 1QFY17 earnings increased by 10.2% YoY to RM6.4mn. Revenue grew by 23.5% YoY to RM76.2mn, driven by contributions from new stores, improved merchandise mix and promotional activities. No dividends were declared for the quarter. (Bursa Malaysia) Lii Hen Industries Bhd proposed a final dividend of 4.0sen per share for the financial year ended 31 December 2016, subject to approval by shareholders at the group’s forthcoming annual general meeting. (Bursa Malaysia) Tong Herr Resources Bhd proposed a final dividend of 20.0sen per share for the financial year ended 31 December 2016, subject to approval by shareholders at the group’s forthcoming annual general meeting. (Bursa Malaysia) GFM Services Bhd’s wholly-owned subsidiary, Global Facilities Management Sdn Bhd, has accepted the offer for extension of contract worth RM6.2mn for the provision of maintenance management services at Pusat Rehabilitasi PERKESO Melaka for another 1 year effective from 15 June 2017 to 14 June 2018. (Bursa Malaysia) BCB Bhd is acquiring 6 adjoining lots of freehold agricultural lands collectively measuring 2,035,341 square foot in Batu Pahat, Johor from Wellington Tan and Tan Seng Koon Shenton for RM34.6mn. The acquisition is in line with the overall objective of the group and its subsidiary companies to increase its land bank in strategic locations. BCB is currently holding about 50% to 60% of the property development market share in Batu Pahat town. (Bursa Malaysia) O&C Resources Bhd proposed to undertake a private placement representing up to 10% of its enlarged shares which assumes full conversion of its irredeemable convertible preference shares, outstanding warrants, and outstanding options pursuant to the group’s share issuance scheme. Based on the indicative issue price of RM0.60 per placement share, the gross proceeds of up to approximately RM58.6mn will be utilised by the group and its subsidiaries mainly for operating expenditure of its existing projects. (Bursa Malaysia) Teck Guan Perdana Bhd’s 4QFY17 earnings increased by 109.6% YoY to RM1.3mn on the back of increased sales volume and selling prices as well as favourable foreign exchange gains recognised from the palm oil products segment. For FY17, revenue and earnings respectively increased by 79.2% YoY to RM377.3mn and 44.4% to RM12.0mn. No dividends were declared for the quarter. (Bursa Malaysia) Metronic Global Bhd is acquiring 4 plot of leasehold lands collectively measuring 2,262.8 square metres for RM7.8mn. The lands will be utilized for the development of a residential cum commercial project, envisioned to be an 18-storey service apartment with 88 units of service apartments and 13 units of shop lots. (Bursa Malaysia) R&A Telecommunication Group Bhd’s board of directors have approved the change of the group’s financial year end from 31 December to 30 June. The next audited financial statements shall be for a period of 18 months, made up from 1 January 2016 to 30 June Page 4 of 8
7. TA Securities 28-Mar-17 A Member of the TA Group 2017 . (Bursa Malaysia) Permodalan Nasional Bhd is targeting to fast track the listing of its infrastructure unit Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) as soon as end 2018 or at least by early 2019. (The Star) Earthworks and civil engineering company Advancecon Holdings Bhd has received the Securities Commission's approval to list on the Main Market of Bursa Malaysia Securities. The group targets to be listed by mid-2017. Among others, the group had undertaken earthworks and civil engineering for various township developments including Setia EcoHill, Setia Eco Gardens, Eco Majestic and Tropicana Aman, as well as infrastructure projects such as Trumpet Interchange and Ecohill link at LEKAS Highway. (The Star) Building contractor Inta Bina Group Bhd has received Bursa Malaysia Securities Bhd’s goahead for its initial public offering on the ACE Market of Bursa Securities. The listing exercise will involve the issuance of 107.1mn new shares which will account for 20% of the enlarged share capital. The group has been involved in the construction industry for more than 25 years. As to date, it has completed more than 110 building construction projects mainly in the Klang Valley and Johor with total contract value of more than RM2bn. (The Star) Page 5 of 8
8. TA Securities 28-Mar-17 A Member of the TA Group News In Brief Economy Asia Pump Petrol Price Could Hit RM3 Only if Crude Oil Rises to US $80 — MoF The Ministry of Finance (MoF) said the retail (pump) price of petrol could reach RM3 per litre if crude oil rises to the US$80 per barrel level. Oil prices are currently hovering at between US$50 and US$55 per barrel and are projected to remain low for the next few years, the Ministry said in a parliamentary written response DAP Member of Parliament for Sibu Oscar Ling Chai Yew. Ling asked what action the government is taking if retail price of petrol hits RM3 per litre and whether the government intends to reintroduce the petrol subsidy. “This is due to excess supply over demand for crude oil in the international market and global economic activity is expected to remain slow,” it added. The MoF said the government remains committed to engaging in fiscal consolidation and has no intention of reverting to bulk subsidy distribution as it causes inefficiencies and leakages. (The Edge Market) Bilateral Trade Between Malaysia, OIC Countries at RM145bn in 2016 Bilateral trade between Malaysia and the Organisation of Islamic Cooperation (OIC) countries inched up 0.2% to RM145.18 billion in 2016 from RM144.87 billion the previous year. International Trade and Industry Deputy Minister Datuk Ahmad Maslan said exports to the OIC improved 5.1% year-on-year to RM82.07 billion, while imports amounted to RM63.11 billion. The trade balance also registered a good performance in rising 67% to RM18.96 billion in 2016 compared to RM11.37 billion the previous year. Exports included palm oil and related products, chemical and chemical products, machinery equipment, as well as electric and electronics material. He said among the OIC countries, nearly 70% of Malaysia's exports went to Indonesia, the United Arab Emirates, Turkey, Bangladesh and Pakistan with a lot of effort going into establishing good trade relations. Malaysia signed free trade agreements with Pakistan and Turkey in 2007 and 2014, respectively Ahmad said currently, the OIC was Malaysia's fifth largest trading partner, accounting for total trade of RM1.48 trillion in 2016. Ahmad said the Government would continue to establish good trade relations with the OIC. Founded in 1969, the OIC has 57 members with a total population of more than 1.6 billion. (The Star) China Jan-Feb Industrial Profits Surge 32% as Commodity Prices Rally Profits of Chinese industrial firms surged 31.5% in the first two months of 2017 from a year earlier as prices of commodities from coal to iron ore raced higher, while strong imports also pointed to a pick-up in activity. Stronger earnings could give a further boost to fixedasset investment, which quickened early in the year, and give China's "smokestack" industries more cash flow to start whittling away at a mountain of debt - a key government priority this year. Total industrial profits over the first two months of the year were 1.01 trillion Yuan (S$204.94 billion), the National Bureau of Statistics said in a statement. The increase was mostly due to faster growth in prices of coal, steel and crude oil. The pace of profit growth picked up sharply from a 2.3% increase in December. Industrial profits rose 8.5% in 2016, snapping back from a slight drop in 2015, largely due to a sharp increase in prices of coal as well as raw materials such as iron ore which were needed to help feed a construction boom. (The Straits Times) BoJ to Continue Pursuing Powerful Monetary Easing Bank of Japan board members viewed that the bank should not rush to action and it should pursue monetary easing under the current framework with patience, the summary of opinions from the monetary policy meeting showed. To achieve the price stability target, it is important to bring the economy onto a self-sustaining growth path, members said at the meeting held on March 15 and 16. Although the economic recovery in Japan has taken hold more firmly amid improvement in the global economy, there is still a long way to go to achieve the price stability target of 2%, policymakers noted. Some market participants argue that the Bank needs to change the monetary policy in response to the rise in the longterm yields overseas. However, the monetary policy in Japan should be decided based on Page 6 of 8
9. TA Securities 28-Mar-17 A Member of the TA Group Japan 's economic activity and prices, one member observed. On price front, one member said inflation is expected to gradually increase toward 2%, due in part to the upward pressure on general prices stemming from developments in commodity prices such as crude oil prices. (RTT News) Europe Eurozone Money Supply Growth Eases Slightly Eurozone money supply growth eased for the second straight month in February, though marginally, figures from the European Central Bank showed. The broad money measure, M3, rose 4.7% year-over-year in February, slower than the 4.8% climb in January, which was revised down from 4.9%. Economists had expected a 4.9% growth for the month. Within M3, the annual growth rate of deposits placed by households stood at 5.4% in February, down from 5.5% in January. At the same time, deposits placed by non-monetary financial corporations registered a decline of 2.0%. The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, remained stable at 8.4% in February. Data also showed that the annual growth rate of total credit to euro area residents decreased to 4.3% in February from 4.6% in the previous month. The yearly growth rate of credit to general government moderated to 9.8% from 10.5%. (RTT News) ECB's Praet Says Eurozone Still Needs 'Very Substantial' Stimulus Eurozone economic recovery is firming, broadening and becoming more resilient, but underlying inflation is yet to signal a convincing upward trend, implying that the single currency economy still needs massive stimulus, European Central Bank policymaker Peter Praet said. "We need to look through the recent surge in inflation, which is driven by transient factors that will probably fade before long," Praet, who is the ECB chief economist, said in a speech in Madrid. "Our conclusion that a very substantial degree of monetary accommodation is still needed for underlying inflation pressures to build up and support headline inflation in the medium term remains valid." Eurozone recovery and inflation outlook are still predicated on the very favorable financing conditions that to a large extent depend on continued monetary policy support, Praet noted. (RTT News) German Business Confidence Strongest Since Mid-2011 German business sentiment strengthened to a 68-month high in March as economic impetus pushed up companies' assessment of the current assessment and outlook. The business confidence index rose to 112.3 in March from a revised 111.1 in February, survey data from the Munich-based Ifo institute revealed. This was the highest reading since July 2011. Economists had forecast the indicator to fall to 110.8 from February's originally estimated 111.0. The current conditions index came in at 119.3 versus 118.4 a month ago. The score was also well above the expected score of 117.9. Likewise, the expectations index climbed to 105.7 from a revised 104.2 in February. The reading was forecast to rise to 104.3. Driven by more optimistic expectations among manufacturers, business sentiment rose to its highest level since July 2011. The improvement was largely driven by a renewed upturn in demand. (RTT News) Page 7 of 8
10. TA Securities 28-Mar-17 A Member of the TA Group Share Buy-Back : 27 Mar 2017 Company AMPROP ANNJOO FITTERS PPG PWF SIGN SNTORIA WTHORSE Bought Back Price (RM) Hi/Lo (RM) 65,000 300,000 10,000 23,900 271,500 130,000 50,000 10,100 0.85 2.47/2.36 0.41 0.63 0.89/0.865 0.92/0.91 0.75/0.73 1.99/1.98 0.85/0.84 2.50/2.27 0.415/0.405 0.64/0.63 0.89/0.86 0.925/0.91 0.765/0.73 2.00/1.97 Total Treasury Shares 12,705,300 22,917,000 16,943,500 3,410,500 3,920,018 11,100,200 881,000 10,998,400 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 8 of 8
11. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company AUTOMOBILE BAUTO MBMR UMW Share Price (RM) 27-Mar-17 2.03 2.49 6.02 Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 2.36 2.04 5.12 0.98 0.54 1.21 10.8 22.7 17.7 15.8 23.8 27.6 18.8 11.0 34.1 12.9 10.5 21.8 5.9 3.6 1.8 7.7 3.6 3.0 2.44 2.70 7.03 -16.8 -7.8 -14.4 1.95 1.95 4.43 4.1 27.7 35.9 -4.7 16.4 31.7 3.90 3.20 5.00 5.60 14.90 8.60 20.90 4.40 8.50 1.26 0.93 1.26 1.32 0.66 0.92 0.80 1.27 0.70 35.8 29.4 46.4 50.6 101.3 73.7 136.6 49.0 36.4 37.7 33.1 50.6 55.6 109.8 82.8 140.4 51.7 38.2 11.2 9.6 10.2 11.1 13.3 12.2 14.6 10.5 26.5 10.6 8.5 9.4 10.1 12.3 10.8 14.2 9.9 25.3 3.8 2.8 3.4 3.6 3.0 5.6 2.8 2.3 3.5 3.8 2.8 3.8 4.0 3.0 5.6 2.9 2.3 3.5 4.37 2.92 5.03 5.83 13.80 9.20 20.28 5.39 10.00 -8.5 -3.4 -6.0 -3.6 -2.5 -2.5 -1.8 -4.6 -3.4 3.60 2.08 3.90 4.11 12.70 7.50 18.48 4.42 8.20 11.1 35.6 21.3 36.7 6.0 19.6 7.8 16.2 17.8 7.5 18.0 9.7 24.6 -0.3 9.4 1.0 9.1 9.2 0.44 1.27 5.19 3.50 0.66 1.78 1.87 5.89 0.49 1.45 5.49 3.27 0.58 1.90 1.50 5.58 0.81 0.70 1.04 1.08 1.16 na 1.04 0.13 6.0 12.9 31.6 16.8 9.6 12.6 12.8 44.4 6.0 13.2 36.5 20.9 9.9 12.5 12.7 45.8 7.3 9.8 16.4 20.8 6.8 14.1 14.6 13.3 7.3 9.6 14.2 16.7 6.6 14.2 14.7 12.9 0.0 2.2 2.3 2.7 1.5 3.1 1.6 4.2 2.3 2.2 2.3 2.7 1.5 3.1 1.6 4.2 0.51 1.35 5.31 3.61 0.75 1.82 1.98 6.06 -14.7 -6.1 -2.3 -3.0 -12.7 -2.2 -5.6 -2.8 0.36 0.76 4.59 3.07 0.41 1.42 1.41 5.02 20.8 67.1 13.1 14.0 61.7 25.4 32.6 17.3 0.0 21.0 8.6 9.4 13.9 4.7 8.1 0.2 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 14.86 17.90 15.41 21.08 0.57 0.59 69.6 93.1 77.5 21.3 101.9 19.2 19.2 17.6 4.7 4.7 5.2 5.1 15.20 18.74 -2.2 -4.5 12.38 13.60 20.0 31.6 6.8 9.3 2.39 7.45 24.52 78.40 2.93 1.87 4.56 0.92 2.23 9.59 26.14 83.60 4.00 2.74 4.17 1.10 0.46 0.33 0.34 0.38 0.47 0.68 0.46 0.56 6.5 35.9 97.9 291.3 23.5 25.1 12.7 9.6 7.5 40.5 119.6 318.0 26.5 25.3 15.8 13.2 36.8 20.7 25.0 26.9 12.5 7.4 35.9 9.6 31.7 18.4 20.5 24.7 11.1 7.4 28.9 7.0 0.8 4.0 2.6 3.6 5.1 4.3 1.0 5.4 0.9 5.1 3.1 3.9 6.1 4.3 1.1 5.4 3.00 9.58 27.00 81.80 3.08 2.04 4.70 1.07 -20.3 -22.2 -9.2 -4.2 -4.9 -8.3 -3.0 -13.8 2.11 7.31 19.70 73.84 1.92 1.42 4.14 0.78 13.3 1.9 24.5 6.2 52.8 31.7 10.1 17.9 -7.0 1.7 4.4 0.3 14.9 8.1 5.3 15.7 47.98 54.22 1.02 271.1 271.8 17.7 17.7 5.5 5.5 55.64 -13.8 40.31 19.0 8.6 9.50 5.65 10.34 6.10 1.34 1.27 45.0 25.7 51.0 27.9 21.1 22.0 18.6 20.3 0.5 1.4 0.6 1.6 9.90 5.68 -4.0 -0.5 7.50 4.17 26.7 35.4 19.6 25.0 2.92 0.11 3.81 0.10 0.72 1.26 22.1 0.2 24.6 0.3 13.2 48.9 11.9 36.4 5.5 0.0 6.5 0.0 3.42 0.13 -14.6 -15.4 2.86 0.05 2.1 120.0 -1.4 120.0 5.99 4.00 6.40 4.61 0.78 0.50 13.9 13.3 17.9 16.5 43.1 30.0 33.4 24.3 0.7 1.5 0.8 1.9 6.79 4.37 -11.8 -8.5 5.78 3.85 3.6 3.9 -5.7 -4.3 4.94 6.30 1.99 4.99 2.10 4.50 6.80 1.90 5.05 2.55 0.54 0.10 0.36 -0.21 0.30 18.2 35.8 16.2 26.6 4.3 21.2 40.5 18.2 30.2 7.1 27.2 17.6 12.3 18.8 49.0 23.2 15.6 10.9 16.5 29.7 1.7 2.8 2.4 2.7 0.5 1.9 3.2 2.7 3.0 0.8 5.03 7.07 2.88 5.45 2.74 -1.8 -10.9 -30.9 -8.4 -23.4 3.81 5.90 1.98 4.20 1.96 29.7 6.8 0.5 18.8 7.1 2.3 -4.4 -5.7 -6.7 -11.0 INDUSTRIAL SCIENTX SKPRES 7.27 1.31 8.50 1.75 0.54 0.49 67.9 9.3 78.0 14.4 10.7 14.1 9.3 9.1 2.8 3.4 3.2 5.2 7.61 1.44 -4.5 -9.0 5.75 1.12 26.4 17.0 8.5 1.6 MEDIA ASTRO MEDIA PRIMA STAR 2.82 1.15 2.49 3.30 0.85 1.95 1.04 0.67 0.58 11.9 7.7 15.0 13.5 8.0 15.8 23.6 14.9 16.6 21.0 14.4 15.7 4.4 5.4 7.2 4.6 5.5 7.2 3.02 1.54 2.70 -6.6 -25.3 -7.8 2.56 1.00 2.20 10.2 15.0 13.2 8.5 0.0 11.2 OIL & GAS EATECH MHB MISC PANTECH PCHEM SKPETRO UMWOG UZMA 0.68 0.96 7.37 0.57 7.58 1.86 0.62 1.82 0.45 0.96 8.16 0.52 7.91 1.92 0.54 1.40 na 1.79 0.86 1.26 1.13 2.43 1.96 1.40 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 5.9 na 14.9 15.2 21.9 35.4 na 16.1 5.7 86.0 13.1 13.1 19.3 40.1 na 14.9 5.0 0.0 4.1 2.7 2.5 0.0 0.0 0.0 6.0 0.0 4.1 3.0 2.9 0.0 0.0 0.0 1.25 1.34 9.00 0.58 7.69 2.09 1.04 2.04 -46.0 -28.4 -18.1 -1.7 -1.4 -11.0 -40.9 -10.8 0.45 0.84 6.88 0.44 5.95 1.29 0.61 1.30 51.7 14.3 7.1 29.9 27.4 44.2 1.7 40.0 8.9 4.9 0.3 27.0 8.6 14.8 -29.7 7.1 BANKS & FINANCIAL SERVICES AFG 4.00 AFFIN 2.82 AMBANK 4.73 CIMB 5.62 HLBANK 13.46 MAYBANK 8.97 PBBANK 19.92 5.14 RHBBANK BURSA 9.66 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
12. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price (RM) PLANTATIONS FGV IJMPLNT IOICORP KLK SIME UMCCA 2.03 3.16 4.70 24.70 9.45 6.06 Target Price BETA (RM) 1.53 3.88 3.93 22.75 8.24 6.53 1.75 0.45 1.06 0.94 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 32.0 23.1 25.1 22.1 30.7 23.5 18.3 20.1 22.3 20.7 26.8 18.9 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg 2.5 2.2 2.1 2.2 2.3 2.6 2.5 2.5 2.6 2.4 3.0 2.6 2.52 3.74 4.81 25.50 9.55 6.20 -19.4 -15.5 -2.3 -3.1 -1.0 -2.3 1.31 3.15 4.07 22.62 7.10 5.53 55.0 0.3 15.5 9.2 33.1 9.6 % Chg YTD 31.0 -7.1 6.8 2.9 16.7 1.0 PROPERTY GLOMAC 0.72 0.69 0.64 3.4 7.0 20.9 10.3 5.6 5.6 0.84 -14.3 0.68 5.9 3.6 HUAYANG 1.12 1.09 0.64 20.0 17.4 5.6 6.4 3.6 3.1 1.43 -21.8 1.05 6.7 -0.9 IBRACO 0.96 1.00 0.34 7.3 11.2 13.2 8.6 3.6 4.2 1.09 -11.9 0.91 5.5 -4.0 IOIPG 2.04 2.10 0.92 14.7 15.3 13.9 13.3 3.4 3.7 2.46 -17.1 1.85 10.4 4.6 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 1.49 1.60 0.68 14.5 12.5 10.3 11.9 4.0 3.7 1.70 -12.4 1.34 11.2 4.2 SNTORIA 0.75 0.80 0.31 6.4 9.7 11.8 7.8 1.3 1.3 0.86 -12.8 0.69 8.7 -6.3 SPSETIA 3.45 3.82 0.67 27.7 24.5 12.5 14.1 4.1 4.1 3.59 -3.9 2.80 23.2 10.2 SUNWAY 3.25 3.40 0.49 31.2 33.3 10.4 9.8 3.7 3.7 3.28 -0.9 2.87 13.2 7.3 REIT SUNREIT 1.71 1.79 0.54 8.9 10.1 19.3 16.9 5.2 5.9 1.84 -7.1 1.54 11.0 -0.6 CMMT 1.67 1.78 0.62 8.1 8.5 20.6 19.6 5.4 5.6 1.72 -2.9 1.43 16.8 9.2 POWER & UTILITIES MALAKOF PETDAG PETGAS TENAGA YTLPOWR 1.18 23.78 19.72 13.70 1.51 1.45 20.19 19.64 17.19 1.81 na 0.77 0.78 1.02 0.59 6.9 98.4 89.4 129.4 8.8 8.3 102.3 91.6 132.7 10.6 17.0 24.2 22.1 10.6 17.3 14.3 23.3 21.5 10.3 14.3 5.9 3.1 3.2 2.6 6.6 4.9 3.2 3.0 2.6 6.6 1.80 25.70 22.66 14.90 1.64 -34.4 -7.5 -13.0 -8.1 -7.9 1.14 22.16 19.56 13.00 1.38 3.5 7.3 0.8 5.4 9.4 -13.9 -0.1 -7.4 -1.4 1.3 TELECOMMUNICATIONS AXIATA DIGI MAXIS TM 4.98 5.15 6.42 6.38 5.25 4.90 5.95 6.95 1.27 0.96 0.72 0.68 16.7 20.8 25.1 21.4 17.6 21.1 25.4 22.3 29.8 24.7 25.6 29.8 28.3 24.4 25.2 28.6 1.7 4.0 3.1 3.0 1.8 4.1 3.1 3.1 5.99 5.18 6.49 6.90 -16.9 -0.6 -1.1 -7.5 4.11 4.31 5.36 5.81 21.2 19.5 19.8 9.8 5.5 6.6 7.4 7.2 TECHNOLOGY Semiconductor & Electronics IRIS 0.14 INARI 2.06 MPI 11.80 UNISEM 3.23 0.14 2.05 10.55 3.15 1.30 0.75 0.45 0.78 -1.2 10.7 88.9 26.9 0.9 na 12.8 19.2 101.9 13.3 29.1 12.0 15.5 16.1 11.6 11.1 0.0 2.0 1.9 3.7 0.0 2.4 1.9 3.7 0.24 2.08 12.22 3.30 -41.7 -1.0 -3.4 -2.1 0.10 1.28 6.86 2.12 40.0 60.7 72.0 52.4 27.3 24.1 59.2 36.9 2.95 7.03 3.02 7.68 1.18 1.45 33.5 9.8 34.9 10.2 8.8 71.4 8.5 69.1 0.0 1.4 0.0 1.4 3.30 7.30 -10.6 -3.7 1.77 5.76 66.7 22.0 28.8 16.0 1.72 3.94 1.88 4.51 0.86 0.69 15.5 19.3 21.7 17.4 11.1 20.4 7.9 22.6 3.2 3.7 4.1 3.3 1.76 4.59 -2.3 -14.2 1.22 3.74 41.0 5.3 8.2 -8.4 TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WPRTS SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE Company Share Price (S$) BANKS & FINANCIAL SERVICES DBS 18.70 OCBC 9.57 UOB 21.76 PLANTATIONS WILMAR IFAR 3.49 0.52 Target Price Beta (S$) EPS (cent) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52week 52week FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 16.70 8.50 19.40 1.21 1.12 1.08 173.8 87.8 195.7 190.2 10.8 92.5 10.9 209.4 11.1 9.8 10.3 10.4 3.2 5.7 3.2 3.2 6.7 3.2 19.4 9.8 22.0 -3.5 -2.1 -1.3 14.63 8.84 17.41 27.8 16.6 25.0 7.8 7.3 6.7 3.45 0.51 0.91 1.12 28.9 3.9 31.1 4.3 11.2 12.1 2.3 1.9 2.6 2.0 4.0 0.6 -12.8 -17.6 2.96 0.44 17.9 17.0 -2.8 -1.9 12.1 13.2 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.
13. TA Securities COMPANY UPDATE Tuesday , March 28, 2017 FBM KLCI: 1,744.95 A Member of the TA Group Sector: Plantation MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 IJM Plantation Berhad TP: RM3.88 (+22.8%) Last Traded: RM3.16 Outlook Remains Resilient Buy THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Angeline Chin Tel: +603-2167 9611 angelinechin@ta.com.my We believe the long-term growth prospect for IJM Plantation (IJMP) remains resilient and are positive on the group’s fundamentals. We see further potential for value enhancement for the group and investors should be able to seek refuge in its resilient earnings growth. We also continue to like the company for its experienced management team with transparent financial reporting. YTD, its share price has corrected by approximately 7%. The share has been brought down to attractive levels, which in our view, is a good entry point for investors. We reiterate our Buy recommendation on IJMP with an unchanged target price of RM3.88. FFB Production on Recovery Path Management guided that FFB production in FY17 is likely to be flattish compared to the previous year. For the first 11 months of FY17, the FFB production decreased by merely 0.7% YoY to 792.7k tonnes. However, FFB production has been growing on YoY basis since Oct 2016 from 0.4% to 42.3% in Feb 2017. We expect FFB production to increase further in March and the total FFB production growth to come in the range between 1.5% and 2.0% for FY17. We expect FY17 earnings to reach RM120.5mn (>100%), mainly driven by higher CPO price and OER. www.taonline.com.my Share Information Bloomberg Code 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 (%) IJMP MK 2216 Main Market 881 2,783 0.50 3.74/3.15 197 14 0.45 IJM Corp - 56.10 EPF - 13.64 Forecast Revision Forecast Revision (%) Net profit (RMm) Consensus TA's / Consensus (%) Previous Rating FY17 FY18 121 139 121 151 100 92 Buy (Maintain) Financial Indicators For FY18, management expects FFB production or growth to be in the range of 920k-950k or 8%-12%, underpinned by more planted areas in Indonesia reaching maturity (another 2k ha to come into maturity in FY18). We expect FY18 contribution from Indonesia to account for 41% from estimated 38% in FY17 (34% in FY16). OER has Been on an Upward Trend Since FY12 IJMP has a proven track record in managing its estates efficiently, as reflected in the high oil yield of its Malaysian estates. We expect the group to emulate similar best estate practices in Indonesia, which will boost ROE in the long run. The Oil Extraction Rates (OER) in Malaysia has stayed above Malaysia’s average benchmark in the last 5 years. Meanwhile, the OER in Indonesia also showed promising trend from 22.5% in FY13 to 24% in FY16 (see Figure 3). We expect Indonesia operation to perform better for the next 2 years as the mature acreage reaches the economies of scale and higher FFB yield from existing matured area. Management expects FY17 FFB yield for Malaysia and Indonesia to be 20 tonnes/ha and 14 tonnes/ha, respectively. While for FY18, the FFB yield is expected to improve to 22 tonnes/ha and 17 tonnes/ha for Malaysia and Indonesia, respectively. Improving Balance Sheet with Healthy Cash Flow We expect IJMP’s balance sheet to remain healthy going forward with comfortable net gearing of 0.3x. Capex is expected to be lower after FY18 due to limited planting land bank left in Indonesia. Note that the group has a total land bank 50,443 ha in Indonesia of which 34,544 ha or 68% had already been planted with palm oil. Management guided that the capex requirement for FY17 and FY18 would be approximately RM150-160mn (cater mainly for Indonesia’s operation). We expect IJMP’s negative free cash flow to turn positive in FY19 with cash of RM49mn and this could potentially mean higher dividend after FY19. Page 1 of 4 Net debt/equity (%) CFPS (sen) P/CFPS (x) ROA (%) NTA/Share (RM) Price/ NTA (x) FY17 34.5 29.8 10.6 4.5 1.9 1.7 FY18 38.6 25.4 12.4 4.9 1.9 1.6 Share Performance (%) Price Change 1 mth 3 mth 6 mth 12 mth IJMP (2.5) (7.1) (11.2) (14.6) FBMKLCI 3.0 7.0 4.8 2.5 (12-Mth) Share Price relative to the FBM KLCI Source: Bloomberg
14. TA Securities 28-Mar-17 A Member of the TA Group Attractive Valuation IJMP share has been brought down to an attractive level , which in our view is a good entry point for investors. Maintain BUY on IJMP with an unchanged target price of RM3.88, based on PER of 23x. We like IJMP premised on its higher FFB production growth towards FY18 and reduction in operating costs. Key risk factors to our call are, 1) a downcycle in CPO price, 2) weakening of USD, 3) global economic slowdown, 4) a prolonged drought resulting in lower FFB production, 5) large supply of soybean oil in the market. Figure 1 : Age Profile (FY15) Figure 2 : Revenue Breakdown by Geographical (RM mn) Source: Bloomberg, TA Research Source: Bloomberg, TA Research Figure 3 : Oil Extraction Rates (OER) Figure 4 : FFB Production (Tonne) Source: Company, TA Research Source: Company, TA Research Figure 5 : 5-Year Rolling PER band Figure 6 : 5-Year Rolling PB band Source: Company, TA Research Source: Company, TA Research Page 2 of 4
15. TA Securities 28-Mar-17 A Member of the TA Group Earnings Summary Page 3 of 4
16. TA Securities 28-Mar-17 A Member of the TA Group ( T HI S P AGE I S I NT E N T I ON AL L Y L E FT B L ANK) 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 4 of 4
17. Tuesday , 28 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 28, 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: 1,744.95 (-0.80, -0.05%) 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 27-Mar 1744.95 2.82 4.00 4.73 4.98 5.62 5.15 5.19 9.50 5.65 5.99 4.70 1.18 6.42 8.97 1.23 5.14 9.45 13.70 6.38 3.94 2.95 0.40 0.73 0.44 4.25 1.72 1.51 1.27 1.68 2.49 2.20 1.25 0.97 1.66 1.51 1.86 1.78 1.25 0.89 1.87 Change (0.80) -0.07 -0.08 -0.15 0.02 0.00 0.01 -0.10 -0.17 0.08 -0.01 0.04 0.00 0.02 -0.02 0.00 -0.16 0.05 -0.02 0.04 -0.08 0.10 0.01 -0.02 -0.02 -0.05 0.03 -0.01 0.00 -0.01 -0.10 0.00 0.00 -0.03 0.04 -0.02 -0.01 -0.02 -0.03 0.01 0.01 Tel: +603-2167-9607 High Low 1,750.35 1,744.33 2.90 4.10 4.90 5.01 5.72 5.17 5.29 9.68 5.68 6.01 4.72 1.19 6.43 9.00 1.25 5.31 9.45 13.72 6.39 4.03 3.00 0.41 0.76 0.45 4.31 1.72 1.53 1.28 1.69 2.59 2.21 1.25 0.99 1.67 1.52 1.89 1.82 1.29 0.90 1.88 2.82 3.99 4.72 4.91 5.62 5.12 5.18 9.50 5.54 5.96 4.69 1.17 6.37 8.93 1.22 5.14 9.27 13.64 6.31 3.91 2.85 0.40 0.73 0.43 4.23 1.68 1.50 1.25 1.68 2.48 2.20 1.25 0.96 1.61 1.51 1.85 1.77 1.25 0.89 1.85 Bollinger Bands Lower Mid Upper 1,693.79 1,728.31 1,762.83 2.59 3.84 4.68 4.42 5.05 5.00 4.84 8.99 5.12 5.84 4.62 1.15 6.30 8.60 1.11 4.93 8.92 13.56 6.17 3.83 2.62 0.39 0.69 0.43 4.12 1.63 1.46 1.10 1.66 0.84 2.10 1.21 0.79 1.38 1.51 1.77 1.68 1.12 0.85 1.82 2.82 4.02 4.87 4.79 5.43 5.10 5.06 9.49 5.40 5.96 4.70 1.18 6.38 8.83 1.18 5.18 9.20 13.69 6.31 3.95 2.81 0.40 0.73 0.45 4.22 1.68 1.51 1.23 1.70 2.12 2.22 1.25 0.91 1.53 1.53 1.90 1.74 1.22 0.88 1.86 3.05 4.19 5.05 5.16 5.82 5.20 5.27 9.99 5.68 6.08 4.78 1.21 6.46 9.06 1.26 5.42 9.48 13.83 6.45 4.07 3.00 0.41 0.76 0.47 4.33 1.72 1.55 1.36 1.74 3.40 2.34 1.29 1.03 1.68 1.55 2.04 1.80 1.32 0.90 1.91 stsoo@ta.com.my RSI Moving Averages 14d 10d 30d 50d 65.20 1,741.23 1,720.80 1,704.30 DMI DI + DI - ADX 39.47 17.96 40.86 Diff 21.51 59.78 49.97 43.73 58.88 71.24 63.21 63.15 56.63 64.29 47.08 52.61 40.55 57.11 66.48 67.14 48.18 66.06 51.97 61.89 45.02 63.00 49.14 52.90 43.28 54.14 65.92 51.79 63.63 46.36 72.31 50.63 45.33 58.15 67.81 39.41 48.21 59.53 58.15 55.55 51.56 27.45 22.59 22.66 28.72 40.62 21.03 27.13 28.42 31.11 17.66 22.16 13.67 17.05 27.92 26.00 21.94 27.73 12.08 22.75 15.59 30.18 21.91 24.23 21.92 21.90 26.70 23.27 27.39 20.82 38.97 21.96 20.60 38.50 34.59 19.25 19.23 22.07 29.10 28.21 14.57 10.98 3.88 (3.82) 7.17 29.75 2.48 14.72 14.97 20.35 (2.36) 7.57 (5.23) (2.44) 10.51 16.17 (1.16) 7.23 (9.49) 12.65 (10.58) 15.92 11.66 2.23 6.33 17.75 17.75 10.85 14.63 (2.25) 20.43 1.77 (8.78) 19.87 28.26 (6.06) (8.55) 14.07 15.91 12.20 (8.90) 2.87 4.07 4.86 4.93 5.58 5.14 5.14 9.71 5.50 5.99 4.69 1.18 6.39 8.92 1.21 5.26 9.31 13.72 6.36 3.93 2.87 0.40 0.73 0.45 4.24 1.68 1.52 1.28 1.70 2.66 2.20 1.25 0.95 1.58 1.53 1.87 1.76 1.26 0.88 1.86 2.71 3.99 4.78 4.78 5.32 5.09 5.01 9.28 5.32 6.02 4.68 1.20 6.39 8.70 1.17 5.13 9.19 13.64 6.26 3.99 2.77 0.40 0.73 0.45 4.21 1.65 1.51 1.19 1.70 1.81 2.20 1.28 0.91 1.51 1.57 1.90 1.74 1.20 0.88 1.87 2.61 3.91 4.67 4.80 5.16 5.04 4.98 8.90 5.14 6.13 4.62 1.24 6.28 8.52 1.14 5.06 9.02 13.66 6.18 4.08 2.68 0.40 0.69 0.45 4.18 1.61 1.47 1.14 1.68 1.44 2.17 1.30 0.89 1.48 1.59 1.83 1.73 1.17 0.87 1.86 16.48 18.71 26.48 21.55 10.87 18.55 12.41 13.45 10.76 20.01 14.59 18.90 19.49 17.41 9.83 23.10 20.50 21.57 10.10 26.17 14.26 10.25 19.71 19.69 15.57 8.95 12.41 12.76 23.07 18.54 20.19 29.39 18.64 6.33 25.31 27.78 8.00 13.19 16.01 23.47 49.84 33.54 32.65 21.56 43.95 12.89 23.59 62.09 44.33 16.07 20.29 21.81 15.57 35.41 38.00 24.64 21.16 21.54 27.86 46.30 23.97 21.33 19.45 22.48 19.47 44.47 33.02 46.58 11.98 56.95 19.45 16.72 31.21 49.58 23.01 25.47 28.20 44.31 19.13 21.32 www.taonline.com.my Line 13.38 0.08 0.05 0.05 0.08 0.15 0.03 0.08 0.24 0.13 -0.03 0.02 0.01 0.03 0.14 0.03 0.07 0.11 0.03 0.06 -0.03 0.06 0.00 0.01 0.00 0.03 0.03 0.01 0.04 0.00 0.38 0.00 -0.01 0.03 0.05 -0.02 0.00 0.01 0.03 0.00 0.00 MACD Signal Diff 12.76 0.630 0.10 0.05 0.08 0.04 0.14 0.03 0.06 0.27 0.12 -0.05 0.03 0.01 0.03 0.14 0.03 0.07 0.10 0.03 0.06 -0.05 0.07 0.00 0.01 0.00 0.03 0.02 0.01 0.05 0.01 0.39 0.01 -0.02 0.02 0.04 -0.02 0.01 0.01 0.03 0.00 0.00 (0.011) (0.006) (0.023) 0.031 0.004 0.001 0.020 (0.034) 0.008 0.019 (0.007) (0.003) (0.006) (0.000) 0.003 (0.004) 0.016 0.001 (0.001) 0.017 (0.002) (0.001) (0.001) (0.001) 0.006 0.001 (0.003) (0.003) (0.004) (0.007) (0.005) 0.002 0.009 0.014 0.001 (0.010) 0.006 0.002 0.001 (0.001) DMI MACD Recent Signal BUY BUY DMI MACD Signal Change - BUY BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY SELL SELL BUY BUY SELL BUY SELL BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL SELL BUY BUY BUY SELL SELL BUY SELL - SELL SELL SELL BUY BUY BUY BUY SELL BUY BUY SELL SELL SELL SELL BUY SELL BUY BUY SELL BUY SELL SELL SELL SELL BUY BUY SELL SELL SELL SELL SELL BUY BUY BUY BUY SELL BUY BUY BUY SELL SELL SELL SELL SELL 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 : Hook down momentum indicators triggered by the late sell-off on Affin shares point to further near-term correction potential towards the 76.4%FR (RM2.78), with a breakdown to target the 61.8%FR (RM2.65) before pausing. Key overhead resistance is from the 28/4/15 peak (RM3.00). Similarly, AMMB shares may correct further towards the 61.8%FR (RM4.61), with better support from the 50%FR (RM4.48), before buyers cushion downside. A potential double-top resistance reside near the 19/10/15 high (RM5.05), matching the upper Bollinger band. AFFIN Upper Middle RM2.82 (-0.07) BOLLINGER BANDS RM RM 3.05 2.82 10-day 30-day RM 2.59 50-day Lower DMI Recent Signal BUY Recent Signal 2.61 SELL Signal Change AMMB Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 2.87 RM 2.71 BOLLINGER BANDS RM RM RM DMI RM4.73 (-0.15) 5.05 4.87 4.68 SELL SELL SIMPLE MOVING AVERAGES RM 4.86 RM 4.78 RM 4.67 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 28, 2017 FBMKLCI: 1,744.95 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 28.03.2017 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 BORNEO OIL BHD LUSTER INDUSTRIE AT SYSTEMATIZATI DAYA MATERIALS XOX BHD MNC WIRELESS BHD XINGHE HOLDINGS TANCO HLDGS BHD BCM ALLIANCE B ECO WORLD DEVELO LAND & GENERAL CHINA AUTOMOBILE BUMI ARMADA BHD DIGISTAR CORP RGB INTERNATIONA TALAM TRANSFORM XIDELANG HOLDING IRIS CORP BHD SUMATEC RESOURCE BIO OSMO BHD TENAGA NASIONAL MEXTER TECHNOLOG PDZ HOLDINGS BHD EKOVEST BHD DBE GURNEY RESOU INIX TECHNOLOGIE BENALEC BIOALPHA HOLDING APFT GLOBALTEC FORMAT 0.19 0.11 0.05 0.09 0.11 0.07 0.04 0.10 0.18 1.51 0.33 0.03 0.73 0.20 0.29 0.05 0.04 0.14 0.08 0.09 13.70 0.25 0.07 1.34 0.04 0.08 0.52 0.25 0.05 0.05 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.16 0.08 0.03 0.05 0.09 0.06 0.03 0.06 0.16 1.46 0.31 0.02 0.69 0.17 0.27 0.04 0.03 0.11 0.07 0.04 13.56 0.24 0.06 1.21 0.03 0.07 0.42 0.23 0.04 0.04 0.18 0.10 0.04 0.07 0.10 0.06 0.04 0.09 0.17 1.51 0.33 0.03 0.73 0.19 0.28 0.04 0.03 0.13 0.07 0.07 13.69 0.24 0.07 1.33 0.04 0.08 0.52 0.25 0.05 0.05 0.19 0.13 0.06 0.09 0.11 0.07 0.04 0.11 0.18 1.55 0.35 0.03 0.76 0.22 0.30 0.05 0.04 0.16 0.08 0.10 13.83 0.25 0.07 1.45 0.05 0.08 0.61 0.27 0.05 0.05 60.49 56.00 57.19 58.18 54.42 59.42 54.71 53.86 54.45 51.79 49.79 53.33 52.90 53.77 49.14 53.57 56.57 53.36 50.22 58.90 51.97 55.75 53.77 60.33 50.93 52.47 51.75 54.97 54.66 53.93 0.18 0.12 0.05 0.08 0.10 0.06 0.04 0.10 0.17 1.52 0.33 0.03 0.73 0.20 0.29 0.05 0.03 0.15 0.07 0.09 13.72 0.24 0.07 1.36 0.04 0.08 0.55 0.25 0.05 0.05 0.17 0.10 0.04 0.07 0.10 0.06 0.04 0.09 0.17 1.51 0.33 0.03 0.73 0.19 0.30 0.04 0.03 0.13 0.08 0.07 13.64 0.24 0.07 1.26 0.04 0.08 0.51 0.24 0.05 0.05 0.17 0.10 0.04 0.07 0.10 0.06 0.04 0.08 0.18 1.47 0.33 0.03 0.69 0.18 0.30 0.04 0.03 0.13 0.08 0.07 13.66 0.24 0.07 1.14 0.04 0.08 0.49 0.23 0.04 0.05 Vol 52,541,800 24,168,700 21,380,800 18,751,000 18,187,600 14,115,000 12,768,200 10,635,900 10,633,800 10,403,500 9,840,300 9,806,600 9,495,800 9,288,500 8,444,600 8,313,000 7,935,900 7,920,400 7,698,600 7,020,500 6,802,500 6,724,600 6,446,000 6,045,700 6,040,000 5,968,100 5,846,800 5,795,600 5,220,600 4,682,800 20-day avg vol 75,812,020 31,383,790 25,736,280 13,178,060 15,686,010 11,224,830 9,080,500 13,344,870 2,410,025 5,278,945 4,926,675 10,533,820 26,096,120 22,423,980 13,453,430 9,189,380 5,708,095 15,638,380 13,519,290 13,316,450 8,750,665 717,550 7,000,560 23,824,020 21,232,790 1,889,100 14,335,500 23,830,630 2,664,415 6,773,105 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 ASIA BRANDS BHD ASTINO BHD ORION IXL BHD ASIA POLY HOLDIN NAIM INDAH CORP ECM LIBRA FINANC XIN HWA HOLDINGS EDUSPEC HOLDINGS ASIAN PAC HLDGS BOON KOON GROUP GD EXPRESS CARRI KAMDAR GROUP M B INTEGRATED LOGIS HANDAL RESOURCES SMTRACK BHD SOUTH MALAY INDS EUPE CORP BHD OSK VENTURES INT SAUDEE GROUP BHD 1.11 0.83 0.29 0.20 0.12 0.40 1.04 0.19 0.19 0.30 2.12 0.39 0.89 0.29 0.06 0.20 0.96 0.54 0.38 2.87 SUPERLON HLDG Raw data sourced from Bloomberg 20 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.84 0.68 0.16 0.16 0.07 0.35 0.99 0.17 0.15 0.08 1.45 0.31 0.78 0.23 0.03 0.14 0.75 0.44 0.30 2.44 0.97 0.73 0.21 0.17 0.09 0.37 1.01 0.18 0.17 0.17 1.78 0.34 0.83 0.26 0.04 0.17 0.83 0.48 0.33 2.59 1.10 0.78 0.26 0.19 0.11 0.39 1.04 0.19 0.18 0.26 2.10 0.38 0.88 0.28 0.05 0.19 0.92 0.53 0.36 2.73 72.17 77.47 81.70 69.31 72.46 64.08 58.44 55.46 68.95 92.60 88.55 67.19 64.96 60.87 65.16 73.44 82.32 70.52 75.90 82.28 0.96 0.75 0.23 0.18 0.10 0.37 1.01 0.18 0.17 0.20 1.91 0.36 0.84 0.26 0.04 0.18 0.86 0.50 0.34 2.61 0.98 0.74 0.22 0.17 0.09 0.37 1.01 0.18 0.17 0.16 1.72 0.33 0.83 0.26 0.04 0.17 0.82 0.48 0.33 2.57 0.98 0.73 0.21 0.17 0.09 0.36 1.02 0.19 0.17 0.15 1.70 0.33 0.84 0.25 0.04 0.16 0.81 0.47 0.32 2.55 Vol 33,500 8,180,700 47,696,700 41,644,600 201,036,700 621,000 4,755,300 5,888,300 18,004,800 61,011,500 9,684,700 45,000 899,900 685,900 12,583,900 4,377,900 1,992,500 628,500 646,000 1,033,300 20-day avg vol 2,490 638,480 4,750,180 4,394,470 21,606,470 73,785 618,975 782,860 2,528,750 9,040,160 1,521,050 7,990 163,665 136,495 2,506,565 881,385 418,185 132,650 140,130 244,835 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 20 Breakdown Stocks (Generally BEARISH, but can be short-term BUY guide) No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Stock Name SINOTOP HOLDING ANN JOO RESOURCE SOUTHERN STEEL LII HEN IND BHD FLBHD MYCRON STEEL BHD MCE HOLDINGS BHD TOP GLOVE CORP B IMASPRO CORP BHD LEADER STEEL HLD MUAR BAN LEE GRO CAN-ONE BHD BOX-PAK BHD JAYCORP BHD UMW OIL & GAS CO HEVEABOARD BHD DAYANG ENTERPRIS EVERGREEN FIBREB MEDA INC BHD OPCOM HOLDINGS Price 0.12 2.29 1.25 3.08 1.58 0.75 0.72 4.99 1.95 0.41 1.04 3.31 1.74 1.34 0.62 1.41 0.96 0.85 0.47 0.59 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.32 2.40 1.35 3.12 1.60 0.76 0.74 5.01 1.97 0.42 1.05 3.32 1.75 1.35 0.62 1.42 0.97 0.85 0.47 0.59 0.50 2.58 1.45 3.23 1.64 0.81 0.76 5.14 2.02 0.46 1.11 3.39 1.82 1.38 0.64 1.48 1.02 0.88 0.49 0.61 0.68 2.76 1.55 3.34 1.67 0.85 0.78 5.27 2.07 0.49 1.16 3.46 1.88 1.41 0.66 1.54 1.08 0.91 0.50 0.62 16.34 28.82 27.38 32.75 31.68 23.62 39.69 34.58 29.39 34.99 33.41 37.77 33.31 36.30 30.64 34.79 34.77 31.61 30.62 38.44 0.61 2.51 1.42 3.19 1.63 0.79 0.76 5.13 2.00 0.45 1.09 3.37 1.79 1.37 0.64 1.46 1.00 0.87 0.48 0.61 0.60 2.56 1.45 3.24 1.65 0.83 0.76 5.14 2.02 0.45 1.11 3.39 1.85 1.39 0.66 1.49 1.03 0.91 0.49 0.62 0.61 2.50 1.39 3.19 1.66 0.89 0.73 5.16 2.03 0.44 1.09 3.39 1.94 1.40 0.70 1.49 1.05 0.93 0.49 0.62 Vol 3,371,200 3,387,300 1,303,900 1,323,600 1,231,600 3,144,000 22,000 2,764,600 100,000 92,000 370,600 719,500 205,400 311,700 3,058,300 2,920,900 1,646,700 2,632,200 130,000 443,500 20-day avg vol 479,690 682,595 263,725 818,395 353,055 2,004,905 20,630 2,326,070 21,420 242,365 362,625 312,145 120,085 261,815 2,096,885 1,903,155 1,543,125 4,168,250 143,500 152,535 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 , 28 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 28, 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: 5,746.70 (-6.85, -0.12%) 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 27-Mar Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff 5746.70 -6.85 5753.50 5698.10 5692.33 5751.49 5810.65 50.20 5756.48 5761.84 5724.25 25.92 22.76 17.69 3.15 23.55 59.02 83.40 34.00 31.45 32.21 44.00 31.21 22.82 8.73 6.07 12.71 6.84 5.02 3.76 87.36 13.00 17.40 7.00 10.47 14.91 4.63 1.73 13.71 3.92 12.41 -0.71 -1.09 0.02 0.10 0.09 0.12 0.12 0.21 0.29 0.08 -0.19 -0.11 0.15 0.03 0.05 -0.67 -0.11 -0.16 0.00 -0.05 -0.01 0.09 -0.05 -0.01 0.03 -0.04 23.73 59.50 83.60 34.07 31.55 32.30 44.00 31.33 22.97 8.73 6.18 12.74 6.87 5.02 3.79 87.60 13.08 17.48 7.06 10.55 14.93 4.64 1.76 13.77 3.94 12.52 23.47 58.83 82.50 33.44 30.95 31.74 43.34 30.70 22.63 8.60 6.04 12.53 6.60 4.91 3.63 86.63 12.87 17.23 6.92 10.41 14.68 4.54 1.70 13.59 3.83 12.17 23.22 58.38 82.27 33.32 30.70 31.52 42.59 30.57 20.72 8.39 5.99 12.29 6.22 4.90 3.51 86.06 12.94 16.90 6.77 10.18 13.94 4.40 1.71 13.44 3.68 12.12 24.61 60.99 83.74 34.33 31.43 32.35 43.62 31.04 21.84 8.64 6.43 12.73 6.53 4.99 3.67 87.88 13.28 18.19 6.94 10.38 14.41 4.59 1.84 13.81 3.80 12.63 26.00 63.60 85.20 35.34 32.15 33.19 44.65 31.52 22.95 8.88 6.87 13.18 6.85 5.08 3.82 89.71 13.61 19.48 7.11 10.58 14.88 4.79 1.97 14.18 3.92 13.14 36.96 37.74 47.91 49.78 55.26 52.85 58.62 50.24 61.83 51.89 38.78 50.41 57.26 51.30 51.59 49.34 40.30 37.93 51.97 56.23 64.86 57.55 35.21 51.76 69.33 47.72 24.35 60.86 83.99 34.23 31.44 32.20 43.86 31.11 22.25 8.58 6.44 12.82 6.67 5.00 3.67 88.12 13.16 17.69 6.91 10.40 14.59 4.52 1.80 13.82 3.83 12.53 25.14 63.03 83.89 34.16 31.15 32.17 43.35 31.25 22.21 8.75 6.58 12.70 6.66 5.01 3.76 87.59 13.32 18.30 7.00 10.32 14.48 4.60 1.88 13.73 3.71 12.60 25.71 63.93 83.25 33.37 30.50 31.51 42.44 31.51 22.21 8.84 6.54 12.55 6.87 5.04 3.85 86.33 13.27 18.43 7.01 10.14 14.49 4.51 1.88 13.34 3.59 12.29 23.63 22.77 21.91 24.16 24.84 23.24 21.31 19.47 32.17 20.21 19.32 29.46 32.23 18.95 24.58 19.34 19.81 14.54 20.07 30.02 26.38 23.37 20.32 19.03 29.25 22.85 40.75 39.58 23.41 27.43 18.16 22.86 18.04 24.33 22.40 22.29 35.13 24.29 20.48 22.49 23.84 23.35 29.46 30.63 22.25 18.90 17.10 16.43 33.85 20.70 13.75 23.90 16.33 22.35 12.11 20.56 23.12 22.76 21.90 21.01 13.69 27.51 17.01 15.68 17.27 14.62 22.62 13.72 15.22 24.00 17.67 19.36 13.75 17.05 15.85 24.10 28.51 18.91 (17.11) (16.82) (1.50) (3.26) 6.67 0.38 3.27 (4.86) 9.77 (2.08) (15.81) 5.17 11.74 (3.53) 0.74 (4.01) (9.65) (16.10) (2.17) 11.12 9.28 6.94 (13.53) (1.68) 15.51 (1.05) www.taonline.com.my MACD DMI MACD DMI MACD Line Signal Diff Recent Signal Signal Change 3.28 9.34 (6.058) BUY SELL -0.46 -0.42 (0.031) SELL SELL - SELL -1.09 -1.01 (0.072) SELL SELL 0.05 0.21 (0.153) SELL SELL 0.11 0.28 (0.169) SELL SELL 0.19 0.29 (0.104) BUY SELL 0.12 0.24 (0.122) BUY SELL BUY 0.36 0.44 (0.075) BUY SELL -0.10 -0.12 0.019 SELL BUY 0.13 0.01 0.122 BUY BUY -0.08 -0.10 0.022 SELL BUY -0.08 -0.04 (0.038) SELL SELL 0.06 0.08 (0.025) BUY SELL -0.01 -0.06 0.050 BUY BUY -0.01 -0.02 0.004 SELL BUY -0.04 -0.07 0.023 BUY BUY BUY 0.30 0.52 (0.213) SELL SELL -0.08 -0.04 (0.040) SELL SELL -0.27 -0.20 (0.079) SELL SELL -0.02 -0.04 0.014 SELL BUY 0.08 0.09 (0.007) BUY SELL 0.08 0.01 0.074 BUY BUY -0.01 0.00 (0.004) BUY SELL -0.04 -0.03 (0.012) SELL SELL 0.10 0.17 (0.069) SELL SELL 0.08 0.08 (0.000) BUY SELL 0.02 0.06 (0.043) SELL SELL SELL - The table below consists of the top 30 ASX 200 Index component stocks, weighted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
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 PER(x) EPS ($) Div Yield(%) 52week Price % Chg Close Target Price % upside 23.55 28.37 17% 59.02 71.60 18% 4.43 3.23 10.2 13.9 4.490 3.382 83.40 83.83 1% 5.64 5.83 14.8 14.3 5.082 5.209 34.00 34.11 0% 2.41 2.50 14.1 13.6 5.482 5.474 35.26 27.57 4.29 31.45 31.13 -1% 2.39 2.43 13.1 12.9 5.135 5.202 32.05 22.06 3.39 32.21 32.25 0% 2.41 2.46 13.4 13.1 6.070 5.948 33.28 23.90 5.02 44.00 43.35 -2% 2.61 2.64 16.9 16.7 5.018 5.091 46.06 38.62 4.41 31.21 33.23 6% 1.31 1.49 18.2 16.0 3.233 3.685 32.59 23.82 0.16 22.82 22.94 1% 0.74 0.93 23.4 18.7 0.754 1.096 27.20 16.25 12.69 8.73 9.37 7% 0.33 0.36 20.2 18.5 2.944 2.990 11.14 8.21 -6.93 6.07 6.72 10% 0.84 0.50 5.5 9.3 5.321 3.311 7.27 2.47 3.06 12.71 13.66 7% 0.64 0.80 15.1 12.0 3.344 3.942 13.28 9.22 2.33 6.84 7.33 7% 0.32 0.53 21.2 12.8 0.000 1.287 7.47 4.42 3.79 5.02 5.29 5% 0.36 0.37 14.1 13.5 5.777 6.036 5.96 4.39 -0.40 3.76 4.42 15% 0.14 0.20 20.0 14.7 0.957 2.048 5.07 3.30 -6.47 87.36 88.37 1% 6.16 6.36 14.2 13.7 4.864 5.077 89.88 61.05 0.28 13.00 13.90 6% 0.91 0.98 14.3 13.3 5.631 6.038 13.95 11.27 -3.85 17.40 16.66 -4% 1.05 1.13 16.6 15.4 3.057 3.322 19.49 12.04 -1.58 7.00 7.98 12% 0.21 0.26 25.4 20.7 1.200 1.529 7.75 5.98 -2.37 10.47 9.92 -6% 0.57 0.59 18.3 17.6 4.585 4.709 10.70 7.94 3.46 14.91 15.97 7% 0.61 0.65 18.7 17.5 2.864 3.206 16.66 13.62 -0.27 4.63 4.82 4% 0.31 0.33 14.7 14.0 5.551 5.767 5.11 4.03 1.09 1.73 1.87 8% 0.11 0.10 12.4 13.8 5.971 5.971 2.04 1.19 -5.74 13.71 13.19 -4% 0.55 0.60 19.1 17.3 1.933 2.050 14.28 8.63 10.03 3.92 4.34 10% 0.53 0.53 7.45 7.37 3.724 4.541 4.22 2.58 17.72 12.41 12.42 0% 0.64 0.73 19.5 17.1 3.086 3.175 13.62 7.40 -3.27 2017 2018 2017 2018 2017 2018 High Low YTD 1.48 1.26 12.2 14.3 3.520 3.040 27.96 15.85 -6.03 69.80 41.51 -1.47 86.09 69.22 1.20 Note : The above data is based on Bloomberg consensus. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
25. T e c h n i c a l TA Securities V i e w Tuesday , March 28, 2017 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Foreign Technical Stock Watch Hong Kong HSI: 24,193.70 (-164.57, -0.68%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Tel: +603-2167 9607 Stock Close Name 27-Mar HANG SENG 24,193.70 (164.57) 24,434.90 24,138.78 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 62.75 86.20 6.33 5.12 9.24 23.80 3.87 114.40 5.75 224.80 195.00 96.85 43.50 6.21 18.28 80.90 3.72 32.10 157.30 15.46 77.80 20.60 67.95 22.70 67.00 5.02 48.20 6.05 3.93 10.52 32.15 6.58 42.95 13.82 17.84 9.64 21.85 22.30 14.12 3.60 11.18 10.98 8.59 3.08 2.35 49.30 34.85 41.20 (0.25) (0.25) (0.06) (0.04) 0.00 (0.20) (0.05) 0.10 (0.03) (0.40) (1.40) (0.95) (0.35) 0.01 (0.28) 0.30 0.01 (0.30) (0.10) 0.06 0.05 (0.10) (1.05) (1.05) (0.20) (0.12) (0.10) (0.04) (0.14) 0.06 (0.15) (0.19) 0.00 (0.02) (0.18) (0.13) (0.60) 0.25 (0.22) (0.24) (0.10) (0.10) (0.14) (0.01) (0.01) (0.80) (0.20) (0.40) 63.10 87.45 6.42 5.17 9.34 24.15 3.91 114.90 5.81 228.40 197.30 97.50 44.55 6.35 18.68 81.00 3.78 32.55 158.40 15.46 78.50 20.70 68.95 23.65 67.35 5.15 48.75 6.14 4.08 10.76 32.25 6.68 43.10 13.90 18.38 9.79 22.50 22.35 14.40 3.86 11.28 11.08 8.75 3.13 2.36 50.20 35.25 41.90 62.55 85.95 6.32 5.08 9.20 23.60 3.87 113.40 5.71 223.20 194.40 96.30 43.40 6.15 18.16 80.10 3.68 31.75 156.50 15.30 77.20 20.30 67.75 22.65 66.90 4.98 48.00 6.02 3.90 10.40 31.90 6.56 42.85 13.72 17.80 9.62 21.60 21.90 14.04 3.60 11.12 10.92 8.53 3.05 2.35 49.25 34.35 40.85 Change High RSI Bollinger Bands Low Lower 23,274.87 62.33 82.07 6.05 4.88 8.78 22.88 3.75 111.59 5.65 201.20 188.25 95.02 40.33 5.76 14.37 77.11 3.40 30.49 156.11 14.75 76.78 19.22 59.71 22.86 66.44 5.06 43.68 5.96 3.84 8.98 31.45 6.50 40.81 12.96 17.22 9.65 20.10 21.09 13.89 3.70 10.91 10.84 8.32 3.01 2.30 48.37 32.46 36.74 Mid stsoo@ta.com.my Upper 14d 23,963.59 24,652.30 56.78 63.34 86.09 6.30 5.07 9.05 24.04 3.89 113.78 5.81 216.27 194.13 96.43 42.33 6.00 16.86 79.33 3.64 31.52 158.82 15.10 78.94 20.09 65.85 24.14 68.09 5.26 46.20 6.10 4.03 9.78 32.05 6.92 42.12 13.52 17.81 9.93 21.55 21.65 14.38 3.99 11.41 11.14 8.53 3.15 2.39 49.47 34.21 39.44 64.34 90.10 6.55 5.26 9.31 25.19 4.03 115.96 5.97 231.34 200.00 97.84 44.32 6.23 19.35 81.54 3.89 32.54 161.52 15.45 81.10 20.96 71.98 25.41 69.73 5.45 48.72 6.24 4.21 10.57 32.64 7.35 43.42 14.08 18.40 10.21 23.01 22.20 14.86 4.28 11.90 11.44 8.75 3.29 2.49 50.56 35.96 42.15 39.94 48.07 53.35 54.59 52.95 47.52 49.38 59.47 40.80 65.68 50.23 58.62 62.39 62.30 64.68 67.04 58.87 60.28 44.35 68.64 42.02 63.55 67.31 35.77 36.24 40.30 72.73 47.54 43.40 76.24 48.92 44.92 66.66 62.20 53.44 45.15 53.85 64.25 46.71 34.35 47.94 41.43 54.39 51.46 45.20 51.03 58.91 71.00 Moving Averages 10d 24,251.42 63.48 87.14 6.39 5.15 9.05 24.46 3.94 114.17 5.79 222.72 196.49 96.99 43.18 6.04 17.67 79.65 3.73 31.97 158.67 15.21 78.24 20.45 68.48 24.40 67.56 5.25 47.16 6.12 4.04 10.10 32.04 6.78 42.64 13.60 17.97 9.84 22.20 21.83 14.46 3.91 11.25 11.21 8.58 3.13 2.40 49.61 35.00 40.59 30d www.taonline.com.my DMI 50d DI + DMI MACD DI - ADX Diff Line Signal Diff MACD Recent Signal DMI MACD Signal Change 23,980.94 23,663.99 32.84 21.11 30.50 11.74 206.07 190.53 15.541 BUY BUY - - 64.29 86.42 6.31 5.08 9.18 24.15 3.92 112.86 5.91 214.51 195.95 95.45 42.29 6.03 16.72 78.82 3.60 31.47 160.10 15.05 79.48 19.98 64.07 24.11 68.68 5.27 45.63 6.14 4.09 9.65 32.48 6.76 41.69 13.31 17.76 9.83 21.49 21.69 14.34 4.04 11.35 11.28 8.53 3.10 2.38 49.19 33.59 38.52 64.80 86.72 6.12 4.96 9.41 23.32 3.78 110.50 6.01 209.52 193.02 93.94 41.57 6.08 16.50 77.76 3.51 31.12 158.69 14.88 79.10 19.54 61.62 23.69 68.83 5.11 44.62 5.99 4.05 9.44 32.51 6.47 40.77 13.12 16.96 9.51 20.72 21.37 13.98 3.97 11.08 11.35 8.29 2.89 2.36 48.48 33.67 37.27 29.43 22.71 17.74 20.73 21.28 25.53 21.46 18.72 25.35 17.03 19.99 13.95 10.62 14.61 16.62 13.01 14.30 16.62 20.76 9.06 15.90 11.36 11.73 33.30 22.23 28.37 11.34 24.00 26.71 9.73 16.06 20.43 9.84 11.80 16.79 24.66 21.67 15.61 21.08 26.36 22.21 23.65 13.22 14.97 25.54 21.38 17.82 7.47 12.29 26.95 22.39 25.49 24.50 27.08 26.25 34.23 19.47 24.33 19.16 28.64 36.02 16.88 30.50 37.49 21.42 18.95 16.18 28.67 13.36 32.31 45.32 25.82 19.31 24.71 39.06 13.39 13.11 39.47 13.66 31.19 55.13 31.94 23.01 24.93 27.50 11.10 26.78 18.31 23.88 21.65 25.08 39.39 38.08 28.71 30.18 40.45 (5.04) 0.87 6.64 8.38 7.66 0.88 5.53 6.63 (5.26) 18.40 3.71 8.44 23.64 18.87 24.93 20.06 12.71 9.10 (3.02) 18.32 2.08 10.79 20.51 (15.25) (7.90) (9.00) 19.64 (1.62) (3.38) 31.23 1.97 2.53 20.82 15.21 9.59 (6.92) 6.65 7.47 (0.21) (3.76) (2.82) (6.51) 12.30 2.86 9.39 8.75 11.28 24.46 -0.45 0.38 0.07 0.06 -0.08 0.26 0.04 1.19 -0.06 5.00 0.86 0.97 0.61 0.03 0.64 0.80 0.07 0.34 -0.22 0.15 -0.51 0.35 2.26 0.05 -0.50 0.00 1.06 0.02 0.00 0.27 -0.12 0.03 0.63 0.22 0.27 0.06 0.45 0.19 0.14 -0.06 0.00 -0.05 0.09 0.05 0.00 0.42 0.54 1.24 (0.021) 0.160 (0.006) (0.000) 0.047 (0.088) (0.010) (0.142) 0.005 0.612 0.096 (0.044) 0.132 0.034 0.244 0.141 (0.000) 0.035 (0.305) 0.032 (0.229) 0.022 (0.023) (0.200) (0.117) (0.043) 0.222 (0.013) (0.001) 0.072 0.040 (0.071) 0.022 0.032 (0.035) (0.059) (0.004) 0.042 (0.049) (0.044) (0.064) 0.003 0.001 (0.031) (0.012) (0.046) 0.088 0.138 SELL BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY SELL SELL SELL BUY SELL SELL BUY BUY BUY BUY BUY BUY SELL BUY BUY SELL SELL SELL SELL BUY BUY BUY BUY BUY BUY SELL BUY SELL SELL BUY SELL SELL SELL BUY BUY BUY SELL BUY BUY BUY BUY SELL BUY SELL BUY SELL BUY SELL SELL SELL SELL BUY SELL SELL BUY BUY SELL BUY BUY SELL SELL SELL BUY SELL SELL SELL BUY BUY SELL SELL SELL BUY BUY BUY SELL SELL SELL - SELL SELL SELL SELL SELL SELL SELL SELL SELL - 24.39 23.59 24.38 29.12 28.94 26.41 26.99 25.35 20.09 35.43 23.70 22.39 34.26 33.48 41.55 33.07 27.01 25.73 17.74 27.38 17.97 22.16 32.25 18.05 14.33 19.37 30.99 22.38 23.33 40.96 18.03 22.96 30.66 27.02 26.38 17.74 28.32 23.07 20.87 22.60 19.39 17.15 25.53 17.84 34.93 30.13 29.10 31.93 -0.43 0.22 0.08 0.06 -0.13 0.34 0.05 1.33 -0.06 4.39 0.77 1.01 0.48 0.00 0.40 0.66 0.07 0.30 0.08 0.11 -0.28 0.32 2.29 0.25 -0.38 0.04 0.84 0.03 0.00 0.20 -0.16 0.10 0.61 0.19 0.30 0.12 0.45 0.15 0.19 -0.01 0.07 -0.05 0.09 0.08 0.02 0.47 0.46 1.11 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 : Asia’s largest electric utilities’ 12-month forward consensus EV/Ebitda average was 9.2x in February, close to the five-year average of 9x. Higher fossil-fuel prices, weaker economic growth limiting demand and power market reforms are factors which may concern the market. – Bloomberg. Technical Comments: Any further correction on Power Assets shares towards the lower Bollinger band (HKD66.44) would be good opportunity to accumulate for potential oversold rebound towards the 30-day ma (HKD68.68), with the upper Bollinger band (HKD69.73) and the 61.8%FR (HKD70.69) acting as the stronger resistance. Crucial support is capped at the 23.6%FR (HKD63.98). POWER ASSETS HOLDINGS HKD67.00 (-0.20) \\ Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS HKD HKD HKD DMI 69.73 68.09 66.44 SELL SIMPLE MOVING AVERAGES HKD 67.56 HKD 68.68 HKD 68.83 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 2017 2018 2017 2018 2017 2018 High Low YTD HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA LTD GALAXY 62.75 63.38 1% 0.6 0.7 13.5 12.4 0.8 0.8 69.10 44.50 0.80 86.20 107.59 20% 5.6 6.1 13.5 12.6 3.0 3.3 99.30 80.30 4.87 6.33 7.41 15% 0.9 0.9 6.1 6.0 4.3 4.4 6.55 4.50 6.03 5.12 6.10 16% 0.8 0.8 5.9 5.8 4.5 4.6 5.27 3.82 10.11 9.24 11.10 0.8 N/A 10.5 3.6 10.88 8.46 23.80 28.09 15% 0.9 1.1 22.8 18.8 1.3 1.5 25.50 16.00 17.82 3.87 4.46 13% 17% 0.6 0.6 0.6 6.0 5.9 4.4 3.5 4.5 4.08 2.90 12.50 -4.74 114.40 129.67 12% 8.8 9.5 13.0 12.1 3.5 3.6 123.30 85.40 16.73 5.75 7.15 20% 0.0 0.3 103.9 17.6 0.7 2.3 6.38 4.76 -0.52 224.80 256.94 13% 6.2 7.8 32.0 25.6 0.3 0.4 229.80 152.20 18.50 195.00 193.21 -1% 5.6 6.1 34.9 31.7 2.6 2.9 213.20 175.00 6.44 96.85 114.19 15% 9.2 10.1 10.5 9.6 3.0 3.2 103.90 80.60 10.18 43.50 44.95 56.13 22% 3.6 4.0 10.7 9.7 1.6 1.7 32.50 12.11 6.21 7.27 15% 0.4 0.5 12.9 11.0 3.9 4.3 6.35 4.66 12.91 18.28 19.00 4% 1.5 1.5 10.6 10.9 3.1 3.1 19.78 11.40 25.21 80.90 79.08 -2% 5.0 5.2 16.1 15.6 3.5 3.6 84.35 68.75 13.54 3.72 3.34 -11% 0.0 0.0 14.1 13.3 0.8 0.8 5.15 3.24 9.09 32.10 34.47 7% 2.2 2.5 14.5 12.8 5.6 4.0 32.55 21.01 15.68 157.30 154.98 -1% 9.3 10.2 4.3 164.40 127.60 9.01 15.46 12.85 -20% 0.6 0.6 25.9 24.8 2.4 2.6 15.50 12.75 12.52 77.80 78.15 0% 4.8 5.1 16.1 15.2 3.4 3.7 94.40 72.20 5.06 20.60 19.63 -5% 1.2 1.1 17.1 19.0 67.95 65.70 -3% 4.7 4.8 14.6 14.1 3.2 3.4 69.95 39.00 31.81 22.70 28.85 21% 3.2 3.6 7.0 6.3 3.7 4.3 27.85 20.15 10.46 67.00 74.22 10% 3.4 3.5 19.6 19.0 4.1 4.2 75.73 62.78 4.85 5.02 4.92 -2% 0.4 0.4 11.1 11.1 4.9 4.9 5.79 4.07 15.14 48.20 48.82 1% 3.3 3.2 15.0 3.2 3.3 49.30 39.64 16.85 6.05 5.98 -1% 0.9 0.9 6.0 6.1 4.4 4.3 6.44 4.46 3.93 4.52 13% 0.3 0.3 12.8 13.3 2.0 1.7 4.88 2.92 6.79 10.52 11.70 10% 0.2 0.4 39.5 23.0 0.8 1.4 10.76 7.70 16.50 32.15 25.72 15.5 18.2 2.9 2.6 34.75 26.35 17.0 14.6 15.5 4.0 3.7 3.6 20.95 13.64 25.30 7.84 -25% 2.1 1.8 6.58 6.11 -8% 0.0 0.2 N/A 40.9 0.0 1.1 7.62 5.34 8.05 42.95 39.12 -10% 1.6 1.6 27.2 26.5 7.7 2.6 44.50 35.02 13.93 13.82 13.64 -1% 0.8 0.8 16.5 16.7 3.7 3.7 14.48 10.96 18.93 17.84 18.91 6% 0.6 0.7 28.4 24.4 1.1 1.2 18.90 12.85 15.84 9.64 11.22 14% 0.8 0.8 12.4 11.7 4.6 4.6 10.46 6.91 17.56 21.85 28.19 22% 2.8 3.2 7.9 6.8 22.30 23.35 5% 1.4 1.6 16.0 14.0 3.0 3.3 24.95 18.80 15.90 14.12 14.49 3% 1.4 1.5 10.1 9.4 5.9 6.1 15.50 10.70 14.61 12.50 3.6 4.2 23.85 16.50 8.25 25.29 3.60 4.43 19% 0.2 0.2 17.6 14.0 0.2 0.4 4.45 2.25 11.18 9.97 -12% -0.1 0.2 N/A 47.4 0.5 0.8 13.50 10.00 10.98 12.35 11% 1.6 1.7 7.1 6.5 3.1 3.9 12.78 10.54 -1.08 8.59 9.09 6% 0.1 0.1 14.4 13.7 1.1 0.4 9.48 7.28 10.27 19.8 17.2 0.4 0.4 2.31 25.71 3.08 3.15 3.38 9.61 2% 0.0 0.0 2.35 2.45 4% 0.0 0.0 N/A N/A 0.0 0.0 3.00 2.00 3.98 49.30 56.69 13% 0.4 0.4 17.3 15.6 0.3 0.3 54.15 41.70 12.69 34.85 37.87 8% 0.2 0.2 22.8 20.7 0.7 0.8 39.30 24.60 3.41 41.20 42.43 3% 1.6 1.7 25.8 24.0 1.2 1.3 42.35 21.87 21.89 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 28, 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: 3,126.88 (-16.02, -0.51%) 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 27-Mar 3,126.88 (16.02) 3.88 18.70 9.57 21.76 65.60 3.49 7.20 3.64 1.00 6.78 7.56 10.01 2.35 0.19 10.28 40.50 3.54 44.12 0.38 3.66 1.87 1.95 3.13 1.85 2.49 2.86 3.67 0.52 1.12 (0.03) (0.09) 0.00 (0.02) (0.40) (0.05) (0.04) (0.05) 0.01 (0.02) 0.01 (0.04) 0.02 0.00 (0.14) (0.22) (0.02) (0.86) (0.01) (0.02) 0.01 (0.01) 0.01 0.00 (0.03) (0.02) 0.01 (0.02) (0.01) Tel: +603-2167 9607 stsoo@ta.com.my High Low Bollinger Bands RSI Lower Mid Upper 14d 3,133.76 3,112.39 3,100.29 3,136.38 3,172.48 50.92 Moving Averages 10d 30d 50d DI + 3,145.29 3,125.64 3,094.52 26.53 DI 27.45 ADX 22.87 MACD DMI MACD DMI MACD Diff Line Signal Diff Recent Signal Signal Change (0.91) 13.38 18.85 (5.467) SELL SELL SELL - 3.90 18.75 9.59 21.83 66.06 3.52 7.30 3.67 1.00 6.81 7.57 10.03 2.41 0.19 10.29 40.92 3.56 44.69 0.39 3.66 1.88 1.96 3.14 1.86 2.52 2.89 3.69 0.53 1.14 3.86 18.47 9.50 21.55 64.82 3.48 7.17 3.62 0.99 6.75 7.50 9.92 2.34 0.18 10.20 40.14 3.53 43.71 0.38 3.63 1.86 1.94 3.10 1.84 2.49 2.85 3.66 0.52 1.11 3.94 18.94 9.59 21.71 65.84 3.57 7.19 3.69 0.99 6.77 7.57 10.00 2.17 0.20 10.38 39.98 3.54 44.76 0.38 3.67 1.89 1.94 3.17 1.87 2.52 2.86 3.68 0.53 1.12 21.17 31.32 21.58 16.77 21.05 28.75 12.38 20.72 15.53 26.32 21.10 16.52 6.20 27.34 15.26 14.86 13.49 24.42 21.66 17.96 27.44 13.24 24.15 20.85 21.25 21.69 10.67 22.43 15.11 16.69 16.61 10.79 24.53 25.92 28.00 32.90 33.50 17.60 25.16 12.41 12.52 23.52 23.46 41.76 29.36 30.98 12.06 25.52 22.54 36.31 12.10 21.10 36.73 11.28 11.64 29.15 12.19 43.58 (6.54) (10.07) 0.30 11.65 (0.09) (15.37) 15.81 2.93 1.38 3.98 (1.33) (3.17) 43.94 (11.73) 16.21 12.11 11.40 (0.36) (11.13) 3.96 (18.04) 1.21 (2.47) 11.55 (3.42) (2.22) 3.50 (3.89) 16.06 3.87 18.61 9.42 21.32 63.50 3.50 6.80 3.54 0.97 6.54 7.41 9.88 1.97 0.18 9.29 38.06 3.43 42.89 0.37 3.61 1.83 1.92 3.09 1.78 2.47 2.82 3.65 0.51 0.98 3.93 18.97 9.55 21.62 65.52 3.59 7.08 3.65 0.99 6.88 7.53 9.97 2.13 0.21 10.07 39.65 3.51 44.32 0.38 3.67 1.95 1.94 3.21 1.90 2.51 2.87 3.69 0.52 1.10 4.00 19.33 9.69 21.92 67.54 3.69 7.35 3.76 1.01 7.22 7.65 10.06 2.29 0.24 10.85 41.24 3.59 45.75 0.39 3.73 2.06 1.97 3.33 2.03 2.54 2.92 3.73 0.54 1.21 42.48 44.61 51.91 57.76 54.24 33.27 61.54 53.00 52.89 51.35 52.00 54.14 77.27 39.38 58.31 60.00 54.54 52.26 38.24 54.38 31.23 51.70 43.62 55.01 48.81 49.29 51.17 41.26 61.17 3.95 18.84 9.54 21.51 64.91 3.67 6.99 3.62 0.99 6.81 7.55 9.94 2.13 0.22 9.83 39.23 3.50 43.42 0.39 3.64 1.99 1.95 3.21 1.80 2.48 2.85 3.68 0.53 1.04 3.91 18.79 9.51 21.24 63.53 3.76 6.91 3.49 0.98 6.59 7.54 9.93 2.12 0.20 9.58 38.52 3.50 42.71 0.40 3.52 2.00 1.95 3.19 1.68 2.47 2.89 3.62 0.54 0.96 14.64 21.25 21.87 28.42 20.95 13.38 28.18 23.64 16.91 30.30 19.77 13.35 50.14 15.62 31.48 26.97 24.89 24.06 10.53 21.93 9.40 14.45 21.68 32.40 17.83 19.47 14.17 18.54 31.18 DMI www.taonline.com.my 0.00 0.02 0.02 0.14 0.76 -0.06 0.11 0.05 0.00 0.04 0.01 0.03 0.04 -0.01 0.26 0.60 0.02 0.61 -0.01 0.04 -0.04 0.00 -0.01 0.05 0.01 0.00 0.01 0.00 0.05 0.01 0.08 0.03 0.16 0.88 -0.06 0.10 0.07 0.01 0.07 0.01 0.03 0.01 0.00 0.27 0.55 0.01 0.69 -0.01 0.05 -0.04 0.00 0.00 0.07 0.01 0.00 0.02 0.00 0.05 (0.011) (0.066) (0.010) (0.015) (0.126) (0.003) 0.009 (0.014) (0.002) (0.033) (0.003) 0.004 0.027 (0.004) (0.015) 0.049 0.007 (0.081) 0.002 (0.013) (0.008) 0.002 (0.016) (0.022) (0.003) 0.002 (0.009) 0.000 (0.008) SELL SELL BUY BUY SELL SELL BUY BUY BUY BUY SELL SELL BUY SELL BUY BUY BUY SELL SELL BUY SELL BUY SELL BUY SELL SELL BUY SELL BUY SELL SELL SELL SELL SELL SELL SELL BUY SELL SELL SELL SELL BUY SELL BUY SELL SELL BUY BUY SELL SELL BUY SELL SELL BUY SELL SELL SELL BUY SELL BUY SELL - - The table above consists of the revamped 30 SGX FTSE Straits Times Index component stocks, sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
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 EPS ($) PER(x) Div Yield(%) % Chg 52week Price 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 3.88 4.25 18.70 9.57 21.76 21.18 -3% 1.9 2.1 11.3 10.5 3.3 3.4 22.04 17.41 6.67 65.60 63.99 -0.03 4.1 4.4 16.1 15.1 2.4 2.5 67.27 52.42 18.73 3.49 3.80 8% 0.2 0.2 12.6 11.7 2.1 2.3 4.00 2.96 -2.79 7.20 7.38 2% 0.4 0.4 18.3 17.7 2.7 2.7 7.35 5.77 13.74 3.64 4.02 10% 0.2 0.2 17.5 18.3 2.8 2.9 3.79 2.85 20.53 1.00 1.06 6% 0.0 0.0 28.4 25.5 2.9 3.0 1.04 0.69 9.94 6.78 6.89 2% 0.5 0.6 13.1 12.2 3.2 3.4 7.23 5.10 17.10 5.59 YZJSGD SP YZJ % upside 2017 2018 2017 2018 2017 2018 High Low YTD 9% 0.2 0.3 16.0 15.0 4.6 4.8 4.36 3.59 6.30 19.44 4% 1.789 1.963 10.5 9.5 3.3 3.4 19.37 14.63 7.84 9.57 0% 0.9 0.9 11.2 10.2 3.8 4.0 9.78 8.21 7.29 7.56 7.89 4% 0.3 0.4 22.6 20.9 3.9 4.2 8.05 6.96 10.01 9.71 -3% 0.4 0.4 22.4 23.0 3.5 2.7 11.67 9.60 3.52 2.35 2.19 -7% 0.1 0.1 30.5 30.9 1.8 1.9 2.41 1.92 12.44 0.19 0.22 0.15 0.0 0.0 9.0 6.1 0.0 0.0 0.36 0.11 10.59 10.28 10.73 4% 0.6 0.7 15.9 14.9 1.4 1.4 10.65 7.68 24.15 40.50 40.36 0% 2.7 2.9 14.9 13.9 0.8 0.8 41.14 27.35 21.99 3.54 3.19 -11% 0.2 0.2 23.1 23.1 4.8 4.6 4.13 3.45 0.28 44.12 49.97 12% 2.1 2.3 14.8 13.5 1.8 2.0 46.23 31.60 7.01 0.38 0.39 4% 0.0 0.0 16.8 14.2 1.9 1.9 0.45 0.33 -12.79 3.66 3.62 -1% 0.2 0.2 21.2 20.2 4.2 4.4 3.77 3.01 13.31 1.87 1.99 6% 0.1 0.1 14.1 14.1 2.4 2.5 2.17 1.58 -5.08 1.95 2.13 8% 0.1 0.1 17.1 16.7 5.6 5.6 2.25 1.87 3.45 3.13 3.52 11% 0.2 0.3 13.0 10.9 2.9 3.3 3.38 2.44 9.82 1.85 1.65 -12% 0.1 0.1 34.3 26.1 1.4 1.7 2.09 1.22 34.06 2.49 2.94 15% 0.2 0.2 15.9 15.3 4.4 4.8 3.02 2.37 0.81 2.86 2.64 -8% 0.2 0.2 17.8 18.6 5.6 5.5 3.97 2.73 1.78 3.67 3.55 -3% 0.2 0.2 23.8 23.7 4.2 4.0 3.91 3.35 8.90 0.52 0.58 11% 436 583 11.3 8.4 12538 18308 0.63 0.44 -1.90 1.12 1.07 -4% 0.5 0.5 11.4 11.9 17.4 17.4 1.19 0.71 37.42 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