Bursa Malaysia Daily Market Report - 3 May

Transcription

1. Wednesday , 03 May, 2017 For Internal Circulation Only TA RESEARCH’S ‘DAILY COMPILED REPORTS’ News 1. Daily Market Commentary 2. Daily Brief Fundamental Reports 1. DBS Group Holdings Ltd.: 1QFY17 Results Within Expectations 2. Semiconductor Sector: Double Digit Growth Across All Regions 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 Wednesday , 03 May 2017 For Internal Circulation Only (A Participating Organisation of Bursa Malaysia Securities Bhd) Menara TA One, 22 Jalan P Ramlee, 50250 Kuala Lumpur Tel : 603 - 2072 1277. Fax : 603 - 2032 5048 TA Research e-mail : taresearch@ta.com.my Review & Outlook KLSE Market Statistics (02.05.2017) (mil) Main Market 2,552.3 Warrants 355.6 ACE Market 942.3 Bond 33.3 ETF 0.0 Total 3,883.6 Off Market 170.3 Volume +/-chg (RMmn) 658.3 3,287.1 65.2 40.6 49.1 154.5 8.4 1.8 0.03 0.0 3,484.0 93.8 524.9 Value +/-chg 569.5 7.5 10.4 0.3 0.04 274.8 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP May Futures Other Markets DOW JONES NASDAQ (US) FTSE (UK) NIKKEI (JAPAN) KOSPI (KOREA) HANG SENG (HK) FSSTI (S'PORE) SET (BANGKOK) JCI (JAKARTA) SHANGHAI SHENZHEN AUSTRALIA (mn) 73.4 23.1 23.0 18.4 12.8 5.0 3.0 2.7 2.0 1.4 1.2 1.0 Up Down 415 298 116 72 54 38 9 1 0 2 594 411 % chg % YTD chg 1,778.47 12,710.30 17,793.20 1,769.00 10.41 78.78 131.48 14.50 0.59 0.62 0.74 0.83 8.33 10.85 20.91 8.16 20,949.89 6,095.37 7,250.05 19,445.70 2,219.67 24,696.13 3,211.11 1,564.12 5,675.81 3,143.71 1,906.88 5,950.37 36.43 3.76 46.11 135.18 14.23 81.00 35.67 -2.20 -9.49 -10.95 -0.04 -6.16 0.17 0.06 0.64 0.70 0.65 0.33 1.12 -0.14 -0.17 -0.35 0.00 -0.10 6.01 13.23 1.50 1.73 9.53 12.25 11.47 1.37 7.16 1.29 -3.16 5.02 Top 10 KLCI Movers Based on Mkt Cap. Off Market SGB-PA MAYBANK PTRANS TENAGA BKOON BJASSET REACH LITRAK STONE MBWORLD VERSATL MAGNI Value/ Volume 1.29 0.11 0.16 0.05 1.14 0.90 3.08 (RM) @ 0.05 @ 9.57 @ 0.25 @ 13.90 @ 0.50 @ 1.00 @ 0.53 @ 5.90 @ 0.22 @ 1.48 @ 1.21 @ 1.70 Exchange Rate USD/MYR 4.3270 -0.0140 USD/JPY 112.24 0.5300 EUR/USD 1.092 0.0018 Counter Mkt Cap. (RM’mn) MAYBANK 98,129 PBBANK 78,157 CIMB 53,226 IHH 50,954 MAXIS 48,367 AXIATA 46,395 GENTING 37,283 PETGAS 37,200 GENM 33,954 MISC 32,898 Chg (RM) 0.02 0.28 0.14 0.01 0.06 0.02 0.16 0.32 0.12 0.04 Vol. (mn) 34.06 10.64 21.59 7.84 2.59 5.96 7.21 0.40 10.22 0.89 Commodities Futures Palm Oil (RM/mt) 2,489.00 -16.00 Crude Oil ($/Barrel) 48.08 -0.66 Gold ($/tr.oz.) 1,257.80 0.40 Important Dates L&G - 8:5 Rights Issue - RI of up to 1,914.1m shares. 8 rights shares for every 5 existing share held, at an issue price of RM0.21 per rights share. Application Closed: 03/05/2017. LISTING ON: 18/05/2017. Bursa Malaysia shares rose on Tuesday, with the benchmark surging to a near two-year high as investors were encouraged by the strong ringgit trend which firmed to a 5-month high of 4.32 to the USD. The KLCI climbed 10.41 points to close at 1,778.47, off an early low of 1,769.16 and high of 1,781.55, as gainers led losers 594 to 411 on robust turnover of 3.88bn shares worth RM3.48bn. Blue chips should slip into profit-taking consolidation soon, given the short-term overbought momentum sparked by the recent rally close to a key upside hurdle, as rotational interest shift towards lower liners and small cap stocks. For the index, immediate upside hurdle will be 1,782, the 76.4%FR of the 1,867 to 1,503 downswing matching yesterday's high, followed by 1,800 and the 18 May 2015 high of 1,823. Key uptrend supports cushioning downside will be at 1,758, 1,748 and 1,736, the respective rising 10, 30 and 50-day moving average levels. Hook-up momentum indicators on MRCB implies the time is ripe for oversold rebound towards the 76.4%FR (RM1.62), with a confirmed breakout to aim for RM1.70 and re-test the 5/4/17 peak (RM1.80). Key retracement support at the 50%FR (RM1.50) is reinforced by the 100day ma (RM1.49). Fresh DMI and MACD buy signals on UEM Sunrise support a challenge of the 5/4/17 high (RM1.34), with a successful breach to target the 123.6%FP (RM1.42) and 138.2%FP (RM1.47) ahead. Key retracement support from the 50%FR (RM1.17) matched the recent correction low. News Bites • With strong export orders, the headline Nikkei Malaysia Manufacturing Purchasing Managers' Index production improved to 50.7 supported by a marginal rise in new orders. • Pelaburan Hartanah Bhd has awarded a RM62.4mn contract to Ikhmas Jaya Group Bhd to carry out earthworks and piling for the first phase of a mixed-use development project in Kuala Terengganu. • Trive Property Group Bhd will assist VSolar Group Bhd to develop solar energy generation facilities with gross development value of RM150mn in a solar farming project with Universiti Teknologi Malaysia. • GHL Systems Bhd is partnering with AF Payments Inc to offer the beep payment acceptance services in the Philippines. • Dagang NeXchange Bhd is eyeing double-digit growth in revenue and profits this year driven mainly by its IT and e-services business, and power business. • Iris Corp Bhd will be partnering with US authentication and digital security company TruTag Technologies Inc to look into the potential for smartcard and secure label applications globally. • KLIA2 has handled 88mn passenger movements at the terminal, comprising 30mn domestic and 58mn international passenger movements, since its opening on May 2, 2013, says Malaysia Airports Holdings Bhd. • Wintoni Group Bhd is set to be suspended on May 9, after it failed to issue its 2016 annual report within the stipulated time. • Felda Global Ventures Holdings Bhd said it has not been notified by its shareholders of any plan involving the sale of its plantation land to the Federal Land Development Authority. • Malakoff Corp Bhd has obtained a term loan facility of US$80.0mn to repay all outstanding amounts under an existing term loan facility procured to finance the acquisition of a 40% stake in Hidd Power Co. BSC in 2012. • Westports Holdings Bhd is working in a consortium of six companies led by Sri Lanka's Hayleys PLC to jointly bid for a contract to build Colombo Port's East Container Terminal in Sri Lanka. • Federal Land Development Authority will continue to maintain at least a 19% stake in the trusted identification company Iris Corp Bhd, even after the emergence of a new substantial shareholder. • Seacera Group Bhd intends to issue bonus warrants, on the basis of two warrants for every five Seacera shares held on an entitlement date to be fixed later, the company announced on Bursa Malaysia. • Axiata Group Bhd is leasing capacity from Thaicom Public Co Ltd's IPSTAR-1 satellite, which enables Axiata to offer high-speed Internet or broadband in Indonesia. 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. Technical Comments : BUY MRCB & UEM Sunrise Hook-up momentum indicators on MRCB implies the time is ripe for oversold rebound towards the 76.4%FR (RM1.62), with a confirmed breakout to aim for RM1.70 and re-test the 5/4/17 peak (RM1.80). Key retracement support at the 50%FR (RM1.50) is reinforced by the 100-day ma (RM1.49). Fresh DMI and MACD buy signals on UEM Sunrise support a challenge of the 5/4/17 high (RM1.34), with a successful breach to target the 123.6%FP (RM1.42) and 138.2%FP (RM1.47) ahead. Key retracement support from the 50%FR (RM1.17) matched the recent correction low. MRCB Upper Middle RM1.57 (+0.05) BOLLINGER BANDS RM RM 1.81 1.65 10-day 30-day RM 1.49 50-day Lower DMI Recent Signal SELL 1.58 Recent Signal SELL Signal Change UEMS Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 1.59 RM 1.65 BOLLINGER BANDS RM RM RM DMI RM1.29 (+0.05) 1.31 1.25 1.19 BUY BUY SIMPLE MOVING AVERAGES RM 1.25 RM 1.26 RM 1.23 DAILY MACD Recent Signal BUY Signal Change BUY 10-day 30-day 50-day Page 2 of 2
4. TA Securities Wednesday , May 03, 2017 FBMKLCI: 1,778.47 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 Blue Chips to Congest on Overbought Momentum Bursa Malaysia shares rose on Tuesday, with the benchmark surging to a near two-year high as investors were encouraged by the strong ringgit trend which firmed to a 5-month high of 4.32 to the USD. The KLCI climbed 10.41 points to close at 1,778.47, off an early low of 1,769.16 and high of 1,781.55, as gainers led losers 594 to 411 on robust turnover of 3.88bn shares worth RM3.48bn. Resistance at 1,728, Then 1,800 Blue chips should slip into profit-taking consolidation soon, given the short-term overbought momentum sparked by the recent rally close to a key upside hurdle, as rotational interest shift towards lower liners and small cap stocks. For the index, immediate upside hurdle will be 1,782, the 76.4%FR of the 1,867 to 1,503 downswing matching yesterday’s high, followed by 1,800 and the 18 May 2015 high of 1,823. Key uptrend supports cushioning downside will be at 1,758, 1,748 and 1,736, the respective rising 10, 30 and 50-day moving average levels. BUY MRCB & UEM Sunrise Hook-up momentum indicators on MRCB implies the time is ripe for oversold rebound towards the 76.4%FR (RM1.62), with a confirmed breakout to aim for RM1.70 and re-test the 5/4/17 peak (RM1.80). Key retracement support at the 50%FR (RM1.50) is reinforced by the 100-day ma (RM1.49). Fresh DMI and MACD buy signals on UEM Sunrise support a challenge of the 5/4/17 high (RM1.34), with a successful breach to target the 123.6%FP (RM1.42) and 138.2%FP (RM1.47) ahead. Key retracement support from the 50%FR (RM1.17) matched the recent correction low. Soft China Data Weigh on Asian Markets Asian markets traded mixed on Tuesday, as investors were kept at bay by weaker-thanexpected economic indicators from China. Growth in China's manufacturing sector slowed faster than expected in April, an official survey showed on Sunday, as producer price inflation cooled and policymakers' efforts to reduce financial risks in the economy weighed on demand. A private manufacturing survey on Tuesday echoed the official take, finding China's factory sector had lost momentum last month, with growth slowing to its weakest pace in seven months as domestic and export demand faltered. Investors also sought to reposition themselves as many local markets returned from the Labor Day holiday. Additionally, there was also a note of caution ahead of a Federal Reserve two-day meeting starting later in the day, a key U.S. jobs report on Friday, and the final round of the French presidential election on Sunday. Page 1 of 9
5. TA Securities 3-May-17 A Member of the TA Group Japan 's Nikkei share average rose to six-week highs on Tuesday in a holiday-shortened week, getting a lift from robust earnings and gains on Wall Street. The Nikkei finished 0.7 percent higher at 19,445.70, its highest close since March 21. In down under, the benchmark ASX 200 traded down 0.16 percent or 6.12 points to close at 5,921.5, with the heavily-weighted financial sector down 1.01 percent. Meanwhile, China stocks fell on the first trading day in May, as sentiment was dented by the lingering concerns about economic growth and tighter regulations. The blue-chip CSI300 index fell 0.4 percent, to 3,426.58 points, while the Shanghai Composite Index dropped 0.3 percent to 3,143.71 points. Wall Street Edges Up On Earnings Optimism Wall Street edged higher on Tuesday as earnings bolstered optimism in the economy before a raft of events that will set the tone on markets in the coming week. The S&P 500 Index’s pursuit of an all-time high took it within four points of the mark, with technology shares leading gains ahead of Apple Inc.’s earnings report after markets close Tuesday. Shares of auto makers were among the worst performers in the S&P 500 after major manufacturers posted declines in U.S. new vehicle sales for April. U.S. equities turned higher in afternoon trading, though gains were muted as investors may yet be reluctant to commit to any direction ahead of the Federal Reserve’s policy review and Friday’s jobs report in light of weaker-than-expected economic growth in the first quarter. The French election on Sunday is adding to concern, while the deal to avert a U.S. government shutdown fueled uncertainty about the timing for any Trump policy priorities. The Dow Jones Industrial Average rose 36.43 points, or 0.17 percent, to 20,949.89, the S&P 500 gained 2.84 points, or 0.12 percent, to 2,391.17 and the Nasdaq Composite added 3.76 points, or 0.06 percent, to 6,095.37. Page 2 of 9
6. TA Securities 3-May-17 A Member of the TA Group News In Brief Corporate Pelaburan Hartanah Bhd has awarded a RM62 .4mn contract to Ikhmas Jaya Group Bhd to carry out earthworks and piling for the first phase of a mixed-use development project in Kuala Terengganu, including a shopping mall and 10-storey car park. The piling specialist said the work was expected to be completed within a year from May 9. (StarBiz/Bursa Malaysia) Trive Property Group Bhd will assist VSolar Group Bhd to develop solar energy generation facilities with gross development value of RM150.0mn in a solar farming project with Universiti Teknologi Malaysia (UTM). UTM and VSolar had signed a joint venture agreement on April 11 to develop the facilities and conduct research and development activities into commercialisation of renewable energy technologies, where UTM will provide a 20-acre site per 10 megawatts for the facilities with up to a capacity of 30 megawatts. (StarBiz) Bahrain has expressed keen interest to tap into Petroliam Nasional Bhd’s knowledge and experience in the gas distribution sector, said Minister in the Prime Minister’s Department, Datuk Seri Abdul Rahman Dahlan. He said that the kingdom was also in the pursuit of expanding its economic relations and exploring economic potentials in this region, particularly with Malaysia. (StarBiz) GHL Systems Bhd is partnering with AF Payments Inc (AFPI) to offer the beep payment acceptance services in the Philippines. The payment service provider said its wholly owned subsidiary, GHL Systems Philippines Inc, had inked an agreement to provide transaction payment acquisition services to AFPI, the owner of beep. In other news, AmInvestment Bank Bhd has urged GHL Systems Bhd’s shareholders to reject London-based private equity fund Actis’ takeover offer for the payment services provider’s shares at RM1.00 each, calling the offer “not fair and not reasonable.” (StarBiz/Bursa Malaysia) Dagang NeXchange Bhd (DNeX) is eyeing double-digit growth in revenue and profits this year driven mainly by its IT and e-services business, as well as, from the growing power business. Furthermore, DNeX will be deploying a smaller capex this year of less than RM50.0mn, compared with the RM125.0mn million last year, whereby bulk of the capex was spent on the acquisitions of Ping Petroleum UK Ltd and OGPC Group. The group is currently participating in tender bids and direct discussions for mini hydro, solar and geothermal projects. (StarBiz/The Sun Daily) Digital identity and business solutions company Iris Corp Bhd will be partnering with US authentication and digital security company TruTag Technologies Inc to look into the potential for smartcard and secure label applications globally. Both parties today signed a letter of intent to jointly develop smartcard and secure label applications to help enhance traceability and security document identification, eliminate counterfeit products and improve supply chain visibility. (The Sun Daily) KLIA2 has handled 88mn passenger movements at the terminal, comprising 30mn domestic and 58mn million international passenger movements, since its opening on May 2, 2013, says Malaysia Airports Holdings Bhd. The terminal has the capacity to handle 45mn passengers per annum and has been supporting the traffic growth of low cost carriers steadily over the last three years. (The Edge Markets) Wintoni Group Bhd, a practice note 17 company, is set to be suspended on May 9, after it failed to issue its 2016 annual report within the stipulated time. In a Bursa filing, the industrial automation systems designer said the issuance of report has been delayed pending audit finalisation. It noted that the deadline to issue the annual report for the year ended Dec 31, 2016 was April 30, 2017. (The Edge Markets) Page 3 of 9
7. TA Securities 3-May-17 A Member of the TA Group Felda Global Ventures Holdings Bhd (FGV) said it has not been notified by its shareholders of any plan involving the sale of its plantation land to the Federal Land Development Authority (FELDA). Neither has it been told of the possibility of new shareholders emerging in the company, FGV said in a Bursa Malaysia filing. Its announcement was in response to recent news articles, including the story entitled 'Twopart plan to split up Felda and FGV mooted' that appeared in The Edge Weekly’s May 1-May 7 publication. (The Edge Markets/Bursa Malaysia) Damansara Realty Bhd said it is keen on becoming a project management consultant for the development of a new teaching hospital for Universiti Teknologi Mara in Puncak Alam, Selangor. In a filing with Bursa Malaysia, Damansara Realty said its subsidiary Health Technical Services Sdn Bhd is desirous to enter into a joint venture agreement with Axventure Sdn Bhd for the proposed project. (The Edge Markets/Bursa Malaysia) Malakoff Corp Bhd has obtained a term loan facility of US$80.0mn (about RM325.0mn) to repay all outstanding amounts under an existing term loan facility procured to finance the acquisition of a 40% stake in Hidd Power Co. BSC in 2012. The new facility, which is for a tenure of three years, was secured from Mizuho Bank Ltd — Labuan branch — via its wholly-owned subsidiary Malakoff International Ltd. (The Edge Markets/Bursa Malaysia) Westports Holdings Bhd is working in a consortium of six companies led by Sri Lanka’s Hayleys PLC to jointly bid for a contract to build Colombo Port’s East Container Terminal in Sri Lanka, according to a report by Sri Lanka’s EconomyNext. The winner of the competition tender, which was called last year, is expected to be announced end-May. (The Edge Daily/Bursa Malaysia) Federal Land Development Authority (Felda) will continue to maintain at least a 19% stake in the trusted identification company Iris Corp Bhd, even after the emergence of a new substantial shareholder, said Felda chairman Tan Sri Shahrir Samad. Felda currently owns 21.3% of Iris' shares, through Felda Investment Corp Sdn Bhd. (The Edge Markets) Seacera Group Bhd intends to issue bonus warrants, on the basis of two warrants for every five Seacera shares held on an entitlement date to be fixed later, the company announced on Bursa Malaysia. The warrants, which will have a three-year tenure, is convertible to one Seacera share each at an exercise price to be fixed later, according to Seacera’s filing. (The Edge Markets/Bursa Malaysia) Maxwell International Holdings Bhd said its external auditors Messrs Baker Tilly Monteiro Heng have expressed a disclaimer opinion in the company’s audited financial statements for the financial year ended Dec 31, 2016 (FY16). In a filing with Bursa Malaysia, Maxwell said its auditors had highlighted similar issues which were noted in the company’s FY15 financial statements, when they had declined to express an audit opinion. (The Edge Markets/Bursa Malaysia) PT XL Axiata Tbk (XL), a 66%-owned subsidiary to Axiata Group Bhd, has issued IDR2.2tr (about RM708.5mn) worth of Islamic notes. They are part of the second tranche of issuance of XL’s IDR5.0tr sukuk programme established on Oct 28, 2015. The first tranche of issuance, which amounted to IDR1.5tr, was issued on Dec 3, 2015. In a filing with Bursa Malaysia, Axiata said this round of issuance comprises notes maturing between 370 days and 10 years. (The Edge Markets/Bursa Malaysia) Axiata Group Bhd is leasing capacity from Thaicom Public Co Ltd's IPSTAR-1 satellite, which enables Axiata to offer high-speed Internet or broadband in Indonesia. In a statement, Axiata said its wholly-owned subsidiary Axiata Business Services Sdn Bhd had signed a four-year, multi-transponder contract for leased capacity and teleport services with Thaicom subsidiary IPSTAR International Pte Ltd. (The Edge Markets/Bursa Malaysia) Page 4 of 9
8. TA Securities 3-May-17 A Member of the TA Group Anzo Holdings Bhd said its wholly-owned subsidiary Harvest Court Construction Sdn Bhd has been appointed the main contractor for Phase 2 of the Porto De Melaka Hotel and Resort development in Malacca . The contract — awarded by Tinta Anggun Engineering Sdn Bhd — is worth RM109.3mn for a contract period of 36 months, it said in a filing. (The Edge Markets/Bursa Malaysia) ViTrox Corp Bhd, a manufacturer of inspection machines for the semiconductor industry, is proposing a bonus issue of up to 236.31mn new shares to reward its shareholder. In a filing with Bursa Malaysia, the company said the bonus issue will be credited as fully paidup on the basis of one bonus share for every one existing ViTrox share (1-for-1), on an entitlement date to be fixed. (The Edge Markets/Bursa Malaysia) Padini Holdings Bhd appoints Sung Fong Fui as chief financial officer. Ms. Sung has more than 18 years of experience in audit and assurance, listing and business advisory work. Her client portfolio includes local and international companies covering a broad spectrum of industries. She is currently a member of Financial Statements Review Committee (FSRC) of Malaysian Institute of Accountants (MIA). (Reuters/Bursa Malaysia) Loss-making EKA Noodles Bhd, embroiled in a boardroom tussle earlier this year, has announced the resignation of its chairman and executive directors. In a filing with Bursa Malaysia, EKA Noodles said its independent non-executive chairman Datuk Sohaimi Shahadan had resigned from his post, citing personal work commitment. (The Edge Daily/Bursa Malaysia) PUC Founder (MSC) Bhd announced a slew of boardroom changes yesterday, together with the appointment of its group managing director Cheong Chia Chou as group chief executive director. Chia Chou, 41, took over the post from Hiew Wai Yoon, 42, on Monday. (The Edge Daily/Bursa Malaysia) AirAsia Bhd has clarified that it carried 9% more passengers to 15.23mn in the first quarter of this year from 13.94mn a year ago, on a 5% increase in seat capacity, and not as announced earlier on Sunday. (The Edge Daily/Bursa Malaysia) Page 5 of 9
9. TA Securities 3-May-17 A Member of the TA Group News In Brief Economy Asia Malaysia ’s PMI Rose in April for First Time in Two Years With strong export orders, Malaysia’s production output rose in April for the first time in over two years. According to the headline Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI), production improved to 50.7, supported by a marginal rise in new orders. Growth was underpinned by a solid gain in new export orders, as foreign demand for Malaysian-produced goods strengthened and helped to offset ongoing weakness from domestic clients. China, Europe, Japan and the Middle East were all notable sources of new sales success. "With output rising at a slightly faster rate than new business over the month, manufacturers were able to make inroads into their backlogs of work outstanding," said the report. It said April’s survey marked the first time that backlogs have fallen, with the decline the greatest recorded in a year. Meanwhile, reports re-emerged that adverse currency movements have raised the price of raw materials. Average input prices subsequently rose sharply in April, with the rate of inflation remaining historically high. The report said where possible, Malaysian manufacturers are seeking to pass on their increased costs to clients, through a rise in average output charges. (NST Online) China April Factory Growth Slows to Weakest in 7 Months China's factory sector lost momentum in April, with growth slowing to its weakest pace in seven months as domestic and export demand faltered and commodity prices fell, a private survey showed. The Caixin/Markit Manufacturing Purchasing Managers' index (PMI) fell to 50.3 in April, missing economist forecasts' of 51.0 and a significant decline from March's 51.2. The findings echoed those in official manufacturing and service sector data on Sunday, reinforcing views that China's economic growth remains solid but is starting to moderate after a surprisingly strong start to the year. The private survey showed production growth and total new orders rose at the slowest pace since last September, with both showing only slight improvement from the previous month. (The Star) Chinese Yuan Internationalization Slowed, Fitch Says Despite the inclusion of the yuan in the IMF's Special Drawing Rights, progress toward the Chinese currency becoming a more important global currency has lost momentum over the last two years, Fitch Ratings said Tuesday. The agency said policies to contain capital outflows and ongoing concerns over currency depreciation are likely to hold back internationalization in the short-term. Nevertheless, a gradual increase in holdings by reserve managers could still support China's rating profile over time. Countries whose currencies have a significant role in global official foreign-exchange reserve portfolios are less likely to experience external funding stress, reflecting stable demand for assets denominated in their currency, Fitch noted. (RTT News) Australia's RBA Holds Rates at 1.5%, Worried About Wages Australia's central bank held rates steady for a ninth straight month on Tuesday in a widely expected decision as it sought to balance the risk of busting a debt-fuelled property bubble against subdued inflation and wages growth. The Reserve Bank of Australia (RBA) kept rates at a record low 1.5%, following easing in August and May last year. All 71 economists in a Reuters poll expected a steady outcome this week. Page 6 of 9
10. TA Securities 3-May-17 A Member of the TA Group Thailand 's PMI Falls to 49.8 in April The Nikkei Thailand Manufacturing Purchasing Managers' Index, or PMI, dropped to 49.8 in April from 50.2 in March. A reading above 50 indicates economic expansion, while one below 50 points toward contraction. "There was a dip in manufacturing conditions in Thailand at the start of the second quarter, following a broadly stagnant first quarter this year," said Bernard Aw, economist at IHS Markit, which compiles the survey. "Subdued client demand placed less pressure on operating capacity. In fact, Thai manufacturers indicated a decline in backlogs despite lower staff numbers, pointing towards the presence of excess capacity in the sector," he added. (Nikkei) Manufacturing PMI Indicates 8th Straight Month of Expansion but Growth Could be Slowing The improving global economy has helped lift Singapore's manufacturing sector, but its run of strong growth seems to be showing signs of tapering. The Purchasing Managers' Index (PMI) - an early indicator of manufacturing activity - logged its eighth straight month of expansion in April. The PMI came in at 51.1 last month according to data released on Tuesday (May 2), a slight dip from March's 51.2 reading. A reading of 50 and above indicates expansion. April's slightly slower rate of expansion was attributed to declining growth rates of domestic and export orders, as well as inventory and employment. However, the declines were cushioned by an increase in the expansion rate of factory activity. The survey also showed PMI for the electronics sector came in at 51.6 last month, down from 51.8 in March. This was the ninth consecutive month of expansion. The slower rate was attributed to a dip in growth of new orders, factory output and inventory. Stocks of finished goods also shrank after logging seven months of expansion. (Straits Times) South Korea Consumer Inflation Softens in April Consumer inflation in South Korea eased slightly in April from a multi-year high hit a month prior as growth in the cost of both food and fuel softened visibly. South Korea’s consumer price index rose 1.9% year on year March, according to Statistics Korea. That was down from 2.2% in March – the fastest pace since June 2012 – and just below a median estimate of 2% from economists polled by Reuters. Prices for food and non-alcoholic beverages rose 2.6% year on year (down 0.9%-points from March), while transport costs grew 5.4% (down 1%-point). Core CPI, which excludes agricultural products and oil prices, marked a year-on-year rise of 1.3%, decelerating by 0.1%-points for a second month running. In month-on-month terms headline CPI fell into marginal contraction of 0.1%, the first sequential fall in prices since November. The month-on-month reading for core CPI improved marginally to register a 0.1% rise – after recording no growth in March. (Financial Times) Indonesia's Annual Inflation Rate Rises to 13-month High in April Indonesia's annual inflation rate rose in April to the highest in 13 months, the statistics bureau said on Tuesday, which was more than expected in a Reuters poll. The consumer price index rose 4.17% on a yearly basis in April, the quickest pace since March 2016. A Reuters poll had forecast an annual rate of 4.08%. March's headline inflation rate was 3.61%. On a monthly basis, consumer prices picked up 0.09%, mainly because of rising electricity tariffs. Page 7 of 9
11. TA Securities 3-May-17 A Member of the TA Group Core inflation , which excludes government-controlled and volatile food prices, was at 3.28% in April. The poll had expected a rate of 3.35%. Indonesia's central bank targets annual inflation to be between 3% and 5% this year. Its next policy review is on May 17-18. (Reuters) Japan Services PMI Eases To 52.2 – Nikkei The services sector in Japan continued to expand in April, although at a slower pace, the latest survey from Nikkei revealed on Tuesday with a services PMI score of 52.2. That's down from 52.9 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Individually, activity and new business both increased at solid but slower rates. Employment saw marginal increase, while slower inflation in both input and output prices was signalled. The composite PMI came in at 52.6, down from 52.9 in the previous month. (RTT News) United States Fed Set to Leave Interest Rates Unchanged, May Hint at June Hike The U.S. Federal Reserve is expected to hold interest rates steady at its meeting this week as it pauses to parse more economic data but may hint it is on track for an increase in June. The central bank is scheduled to release its policy decision at 2 p.m. EDT (1800 GMT) on Wednesday at the conclusion of its two-day meeting. Fed Chair Janet Yellen is not due to hold a press conference. Most policymakers have already made plain that in contrast to previous years, the Fed feels more confident in its forecast of two more rate increases this year. The Fed is in its first tightening cycle in more than a decade. A quarter percentage point increase last December was followed two meetings later by another hike in March. Economists polled by Reuters see little chance of a move at this week's meeting. Investors next see an interest rate rise in June, according to Fed futures data compiled by the CME Group. The rate-setting committee also is still waiting to see to what extent Trump administration policies on tax, spending and regulation will be able to get through Congress. A stimulus package could speed up the pace of hikes. (Reuters) Europe & United Kingdom Eurozone Jobless Rate Steady at 9.5%, Lowest Since 2009 Eurozone unemployment remained unchanged from the previous month in March at its lowest level in over eight years, preliminary data from Eurostat showed Tuesday. The seasonally adjusted unemployment rate held steady at 9.5%, unchanged from February. The figure was the lowest since April 2009, the agency said. A year ago, the jobless rate was 10.2%. Economists had forecast 9.4%. In March, there were 19.716 million unemployed in the EU28, of whom 15.515 million were in the euro area, Eurostat said. On a month-onmonth basis, the number of people unemployed decreased by 56,000 in the EU28 and by 5,000 in the euro area, the agency added. The lowest unemployment rates were recorded in the Czech Republic, Germany and Malta, while the biggest rates were observed in Greece and Spain. (RTT News) U.K. Manufacturing Growth Surges to Fastest in Three Years U.K. manufacturing unexpectedly grew at the fastest pace in three years in April as the domestic market strengthened and the pound’s depreciation boosted exports. A measure of factory conditions rose to 57.3 from 54.2 in March, according to IHS Markit’s Purchasing Managers’ Index. That’s far better than the 54 forecast by economists in a Bloomberg survey and above the 50 level dividing expansion from contraction. Growth in new orders and exports also gathered pace. Much of the economy’s performance will depend on the services sector. It posted its weakest performance in two years in the first quarter, when the pace of overall economic growth slowed by more than half. A gauge of services from Markit due Thursday is forecast Page 8 of 9
12. TA Securities 3-May-17 A Member of the TA Group to decline to 54 .5 in April from 55 in March. The factory survey also highlighted the mixed effects of the pound’s decline since the vote to leave the EU. Factory price pressures remained elevated last month, with input costs above their long-run average. As that feeds through to inflation, that means workers are facing a drop in real incomes this year, undermining their spending power. (Bloomberg) Share Buy-Back: 02 May 2017 Company AMPROP Bought Back Price (RM) Hi/Lo (RM) 101,100 0.81 0.81/0.80 Total Treasury Shares 13,326,600 Source: Bursa Malaysia Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD (14948-M) MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 9 of 9
13. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company AUTOMOBILE BAUTO MBMR UMW Share Price (RM) 02-May-17 2.11 2.57 6.25 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 0.96 0.58 1.23 10.8 22.7 17.7 15.8 23.8 27.6 19.6 11.3 35.4 13.4 10.8 22.7 5.6 3.5 1.8 7.5 3.5 2.9 2.44 2.70 7.00 -13.5 -4.8 -10.7 1.95 1.95 4.43 8.2 31.8 41.1 -0.9 20.1 36.8 4.10 3.40 5.40 6.10 15.80 9.20 22.10 4.70 10.00 1.28 0.96 1.33 1.34 0.66 0.95 0.80 1.31 0.70 35.8 29.4 46.4 50.6 101.3 73.6 136.6 49.0 40.3 37.7 33.1 50.6 55.6 109.8 82.6 140.4 51.7 39.0 11.8 10.1 12.1 11.6 13.6 13.0 14.8 11.3 25.4 11.2 9.0 11.1 10.6 12.6 11.6 14.4 10.7 26.2 3.5 2.7 2.8 3.4 3.0 5.2 2.8 2.2 3.3 3.5 2.7 3.2 3.8 3.0 5.2 2.9 2.2 3.3 4.23 2.98 5.69 5.94 14.00 9.67 20.58 5.55 10.38 0.0 -0.3 -1.2 -1.0 -1.3 -0.7 -1.7 -0.2 -1.3 3.60 2.08 3.90 4.11 12.70 7.50 18.52 4.43 8.20 17.5 42.8 44.1 43.0 8.8 28.0 9.3 25.0 24.9 13.7 24.3 30.4 30.4 2.4 17.1 2.6 17.6 15.7 0.45 1.29 5.31 3.50 0.92 2.07 2.27 6.00 0.49 1.55 5.49 3.27 0.58 1.90 1.49 5.58 0.80 0.68 1.06 1.09 1.22 na 1.11 0.12 5.7 14.6 31.6 16.8 9.6 12.6 11.9 44.3 5.7 13.1 36.4 20.9 9.9 12.5 11.8 45.8 7.9 8.8 16.8 20.8 9.6 16.4 19.1 13.5 7.9 9.8 14.6 16.7 9.3 16.5 19.3 13.1 0.0 2.2 2.3 2.7 1.1 2.7 1.3 4.2 2.2 2.2 2.3 2.7 1.1 2.7 1.3 4.2 0.51 1.35 5.34 3.61 0.99 2.07 2.30 6.13 -11.8 -4.6 -0.6 -3.0 -6.6 0.0 -1.3 -2.1 0.36 0.80 4.59 3.07 0.41 1.42 1.41 5.02 25.0 62.1 15.7 14.0 127.2 45.8 61.0 19.5 3.4 22.9 11.1 9.4 60.0 21.8 31.2 2.0 2.02 2.00 0.46 15.4 15.6 13.1 12.9 5.0 5.0 2.40 -15.8 1.93 4.7 0.5 15.22 17.80 15.41 21.08 0.52 0.57 69.6 93.1 77.5 21.9 101.9 19.1 19.6 17.5 4.6 4.7 5.1 5.2 15.30 18.74 -0.5 -5.0 12.38 14.58 22.9 22.1 9.3 8.7 2.48 7.65 24.86 82.64 3.20 1.82 4.85 1.03 2.23 9.59 26.14 88.66 3.76 2.74 4.17 1.10 0.49 0.35 0.36 0.37 0.50 0.69 0.43 0.59 6.5 35.9 102.6 293.6 22.3 25.1 12.7 9.3 7.5 40.5 124.5 326.2 24.7 25.3 15.8 12.8 38.2 21.3 24.2 28.2 14.4 7.3 38.2 11.1 32.9 18.9 20.0 25.3 13.0 7.2 30.8 8.1 0.8 3.9 2.5 3.3 4.7 4.4 0.9 4.9 0.9 5.0 3.0 3.4 5.3 4.4 1.0 4.9 3.00 9.53 27.00 83.68 3.25 2.04 4.85 1.07 -17.3 -19.7 -7.9 -1.2 -1.5 -10.8 0.0 -3.7 2.11 7.30 22.16 74.12 2.11 1.43 4.14 0.78 17.5 4.8 12.2 11.5 51.9 27.3 17.1 32.1 -3.5 4.4 5.9 5.7 25.5 5.2 12.0 29.6 46.12 52.08 1.05 198.6 187.4 23.2 24.6 4.3 4.3 55.64 -17.1 40.31 14.4 4.4 10.00 5.99 10.34 6.10 1.35 1.27 45.0 25.7 51.0 27.9 22.2 23.3 19.6 21.5 0.5 1.3 0.6 1.5 10.00 6.07 0.0 -1.3 7.50 4.17 33.4 43.5 25.9 32.6 2.77 0.14 3.81 0.10 0.72 1.33 22.1 0.2 24.6 0.3 12.5 68.4 11.2 44.7 5.8 0.0 6.9 0.0 3.42 0.15 -19.0 -6.9 2.73 0.05 1.5 170.0 -6.4 170.0 6.19 4.19 6.40 4.61 0.78 0.52 13.9 13.3 17.9 16.5 44.5 31.4 34.5 25.4 0.7 1.5 0.7 1.8 6.79 4.37 -8.8 -4.1 5.78 3.85 7.1 8.8 -2.5 0.2 4.92 5.69 1.90 4.60 2.13 6.05 6.80 1.90 5.05 2.55 0.57 0.13 0.30 -0.22 0.28 20.0 35.8 16.2 26.6 4.3 24.2 40.5 18.3 30.2 7.1 24.6 15.9 11.7 17.3 49.7 20.3 14.1 10.4 15.2 30.1 1.8 3.1 2.6 2.9 0.5 2.2 3.6 2.9 3.3 0.8 5.03 7.07 2.73 5.45 2.64 -2.2 -19.5 -30.4 -15.6 -19.3 3.81 5.67 1.90 4.20 1.96 29.1 0.4 0.0 9.5 8.7 1.9 -13.7 -10.0 -14.0 -9.7 INDUSTRIAL SCIENTX SKPRES 8.25 1.27 8.50 1.75 0.57 0.48 67.9 9.1 78.0 14.1 12.2 14.0 10.6 9.0 2.5 3.5 2.9 5.4 8.99 1.44 -8.2 -11.8 5.75 1.12 43.5 13.4 23.1 -1.6 MEDIA ASTRO MEDIA PRIMA STAR 2.71 1.20 2.33 3.20 0.85 1.95 1.03 0.69 0.62 13.2 7.7 15.0 14.5 8.0 15.8 20.5 15.5 15.6 18.7 15.1 14.7 4.6 5.2 7.7 4.8 5.3 7.7 3.01 1.52 2.70 -10.0 -21.1 -13.7 2.56 1.00 2.20 5.9 20.0 5.9 4.2 4.3 4.0 OIL & GAS EATECH MHB MISC PANTECH PCHEM SENERGY UMWOG UZMA 0.62 1.01 7.37 0.64 7.28 2.02 0.69 1.83 0.45 0.95 8.16 0.69 7.91 2.02 0.54 1.40 1.04 1.81 0.82 1.28 1.07 2.41 2.00 1.39 11.5 -1.2 50.6 4.1 34.7 5.3 -14.7 11.3 11.9 1.3 57.1 5.0 39.3 4.6 -12.4 12.2 5.4 na 14.6 15.4 21.0 38.5 na 16.2 5.2 77.1 12.9 12.8 18.5 43.6 na 15.0 0.0 0.0 4.1 2.8 2.6 0.0 0.0 0.0 0.0 0.0 4.1 3.1 2.6 0.0 0.0 0.0 1.18 1.23 8.50 0.67 7.80 2.10 1.04 2.02 -47.5 -17.9 -13.3 -3.8 -6.7 -3.8 -33.7 -9.4 0.45 0.84 6.88 0.44 5.95 1.29 0.61 1.30 39.3 20.2 7.1 47.1 22.4 56.6 14.0 40.8 0.0 10.4 0.3 43.8 4.3 24.7 -21.1 7.6 BANKS & FINANCIAL SERVICES AFG 4.23 AFFIN 2.97 AMBANK 5.62 CIMB 5.88 HLBANK 13.82 MAYBANK 9.60 PBBANK 20.24 5.54 RHBBANK BURSA 10.24 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
14. For Internal Circulation Only SNAPSHOT OF STOCKS UNDER COVERAGE Company Share Price (RM) PLANTATIONS FGV IJMPLNT IOICORP KLK SIME UMCCA Target Price BETA (RM) EPS (sen) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52weeks 52weeks FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 1.95 3.08 4.59 24.64 9.33 6.22 1.53 3.88 3.93 22.75 8.24 7.52 1.79 0.46 1.09 0.91 1.25 0.50 6.3 13.7 18.7 111.8 30.8 32.7 11.1 15.7 21.1 119.1 35.3 34.5 30.7 22.5 24.5 22.0 30.3 19.0 17.6 19.6 21.8 20.7 26.4 18.0 2.6 2.3 2.2 2.2 2.4 2.6 2.6 2.6 2.6 2.4 3.0 2.7 2.52 3.70 4.81 25.50 9.55 6.51 -22.6 -16.8 -4.6 -3.4 -2.3 -4.5 1.31 3.00 4.07 22.62 7.10 5.53 48.9 2.7 12.8 8.9 31.4 12.5 25.8 -9.4 4.3 2.7 15.2 3.7 0.70 1.10 0.87 2.13 1.51 0.77 3.70 3.44 0.69 1.07 1.00 2.10 1.60 0.80 4.10 3.40 0.65 0.66 0.33 0.93 0.71 0.29 0.67 0.49 3.4 20.0 7.3 14.7 14.5 6.4 25.6 27.2 7.0 17.4 11.2 15.3 12.5 9.7 22.8 29.1 20.3 5.5 11.9 14.5 10.4 12.1 14.5 12.6 10.0 6.3 7.7 13.9 12.1 8.0 16.2 11.8 5.7 3.6 4.0 3.3 4.0 1.3 3.8 3.5 5.7 3.2 4.6 3.5 3.6 1.3 3.8 3.5 0.83 1.43 1.05 2.46 1.70 1.00 3.77 3.50 -15.2 -23.2 -17.6 -13.4 -11.2 -23.0 -1.9 -1.7 0.68 1.05 0.86 1.85 1.34 0.69 2.80 2.84 2.9 4.8 0.6 15.3 12.7 11.6 32.1 21.1 0.7 -2.7 -13.5 9.3 5.6 -3.8 18.2 14.7 1.70 1.50 1.79 1.72 0.54 0.59 8.9 8.1 10.1 8.6 19.2 18.6 16.8 17.4 5.2 5.6 5.9 6.0 1.84 1.72 -7.6 -12.8 1.59 1.44 6.9 4.2 -1.2 -2.0 POWER & UTILITIES MALAKOF PETDAG PETGAS TENAGA YTLPOWR 1.25 24.26 18.80 13.92 1.52 1.45 20.19 19.02 17.19 1.81 0.72 0.74 0.76 1.02 0.59 6.9 98.4 88.2 131.9 8.8 8.3 102.3 101.3 130.8 10.6 18.1 24.7 21.3 10.5 17.4 15.1 23.7 18.6 10.6 14.4 5.6 3.0 3.3 4.2 6.6 4.6 3.1 3.8 2.8 6.6 1.80 25.70 22.66 14.90 1.64 -30.6 -5.6 -17.0 -6.6 -7.3 1.14 22.16 18.10 13.00 1.38 9.6 9.5 3.9 7.1 10.1 -8.8 1.9 -11.7 0.1 2.0 TELECOMMUNICATIONS AXIATA DIGI MAXIS TM 5.17 5.03 6.44 6.47 5.25 4.95 5.95 6.95 1.26 0.95 0.71 0.68 16.7 20.8 25.1 21.4 17.6 21.1 25.4 22.3 30.9 24.1 25.7 30.2 29.4 23.9 25.3 29.0 1.6 4.1 3.1 3.0 1.7 4.2 3.1 3.1 5.99 5.19 6.49 6.90 -13.7 -3.1 -0.8 -6.2 4.11 4.36 5.36 5.81 25.8 15.4 20.1 11.4 9.5 4.1 7.7 8.7 TECHNOLOGY Semiconductor & Electronics IRIS 0.20 INARI 2.11 MPI 12.40 UNISEM 3.42 0.14 2.35 13.15 3.55 1.42 0.78 0.51 0.83 -1.2 10.5 94.2 26.9 0.9 na 12.6 20.1 115.7 13.2 29.1 12.7 22.1 16.8 10.7 11.8 0.0 2.0 2.2 3.5 0.0 2.3 2.2 3.5 0.24 2.13 12.52 3.42 -16.7 -0.9 -1.0 0.0 0.10 1.28 7.02 2.12 100.0 64.6 76.6 61.3 81.8 27.1 67.3 44.9 3.39 7.98 3.02 8.10 1.17 1.46 33.5 17.2 34.9 17.5 10.1 46.3 9.7 45.6 1.2 1.3 1.5 1.3 3.40 8.10 -0.3 -1.5 1.88 5.76 80.3 38.5 48.0 31.7 1.80 3.95 1.88 4.51 0.81 0.68 15.4 19.3 21.5 17.4 11.7 20.4 8.4 22.7 3.1 3.7 3.9 3.3 1.87 4.59 -3.7 -13.9 1.23 3.74 46.3 5.6 13.2 -8.1 PROPERTY GLOMAC HUAYANG IBRACO IOIPG MAHSING SNTORIA SPSETIA SUNWAY REIT SUNREIT CMMT TRANSPORTATION Airlines AIRASIA AIRPORT Freight & Tankers TNLOGIS WPRTS SNAPSHOT OF FOREIGN STOCKS UNDER COVERAGE Company Share Price (S$) BANKS & FINANCIAL SERVICES DBS 19.86 OCBC 9.98 UOB 22.80 PLANTATIONS WILMAR IFAR 3.55 0.49 Target Price Beta (S$) EPS (cent) PER (X) FY17 FY18 FY17 FY18 Div Yield (%) 52week 52week FY17 FY18 High Price % Chg Low Price % Chg % Chg YTD 21.40 8.50 23.60 1.22 1.12 1.08 173.8 87.8 195.7 190.2 11.4 92.5 11.4 209.4 11.7 10.4 10.8 10.9 3.0 5.7 3.1 3.0 6.7 3.1 19.9 10.0 22.8 -0.2 -0.4 0.0 14.63 8.84 17.41 35.7 21.6 31.0 14.5 11.9 11.8 3.45 0.53 0.91 1.12 28.9 3.9 31.1 4.3 11.4 11.5 2.3 2.0 2.5 2.1 4.0 0.6 -11.3 -17.6 2.96 0.44 19.9 11.4 -1.1 -6.7 12.3 12.5 BUY : Total return within the next 12 months exceeds required rate of return by 5%-point. HOLD : Total return within the next 12 months exceeds required rate of return by between 0-5%-point. SELL : Total return is lower than the required rate of return. Total Return is defined as expected share price appreciation plus gross dividend over the next 12 months. Required Rate of Return of 7% is defined as the yield for one-year Malaysian government treasury plus assumed equity risk premium.
15. RESULTS UPDATE TA Securities Wednesday , May 03, 2017 STI: 3,211.11 Sector: Finance A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 DBS Group Holdings Ltd. TP: S$ 21.40 (+7.8%) Last traded: S$19.86 1QFY17 Results Within Expectations HOLD THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* TA Research Team Coverage Tel: +603-2067 9610 liwong@ta.com.my Review 1QFY17 results came within expectations as core net profit of S$1,210mn represented 27% and 26% of ours and consensus’ full year net profit forecast of S$4,418mn and S$4,577mn respectively. Core net profit advanced 0.6% YoY and 32.5% QoQ. ROE stood at 11.1% from 11.9% a year ago. QoQ, earnings reversed decreases reported in 4QFY16. The encouraging increase in net profit was largely due to higher operating income (+4.0% QoQ) and lower allowances (-56.7% QoQ). The rise in total income was underpinned by higher fee income (+29.1% QoQ). Allowances improved, falling 56.7% QoQ to S$200mn during the quarter from S$462mn in 4Q. Accounting for 23% of our full year forecast, net interest income (NII) slipped 0.1% YoY on the back of softer NIM (-11 bps YoY) due to softer SGD interest rates. Compared to 4Q16, NIM broadened by 3 bps in line with higher interest rates in Hong Kong and Singapore. Loans and advances expanded by some 9% YoY but contracted by 1% QoQ. In constant currency terms, non-trade corporate and consumer loans were up 6% YoY (stable QoQ) while trade loans jumped 15% YoY (+8% QoQ). Rising 16% YoY (+29% QoQ), fee income was driven by increases in all key segments namely trade and transaction services, wealth management, and cards. IB fees more than doubled to S$45mn from higher equity and fixed income fees. Wealth management fees rose by 35% YoY (+22% QoQ) on the back of rising asset under management (AUM), which expanded to a record high of S$170bn from S$147bn a year ago. By business units, IBG held up in 1Q17 – after the segment recorded a 34% YoY decline in PBT due to higher SP from stresses in the O&G support services sector. Total income expanded slightly as higher cash management helped offset decline in treasury customer activities. Meanwhile, PBT from the CBG/ Wealth Management segment accelerated by 22% YoY on the back of a 13% increase in total income as based growth in investment products, loans and deposits were recorded here. Overhead expenses was well contained, climbing at a modest pace of 1.0% YoY. Management attributed the better cost-to-income (CTI) ratio of 43% from 44% a year ago, to productivity gains as efforts to digitize the bank and cost management initiatives takes effect. Computerisation expenses dipped 7% YoY in 1Q17. The increase in expenses was led by staff cost, which climbed by 1% YoY as DBS kept a lean headcount. 3 Share Information 2. Bloomberg Code 3 Stock Code Page 1 of 3 DBS SP D05 STI 2542.7 50498.0 1.00 19.90/14.63 5293.0 70.4 1.2 Listing Share Cap (mn) Market Cap (S$mn) Par Value 52-wk Hi/Lo (S$) 12-mth Avg Daily Vol ('000 shrs) Estimated Free Float (%) Beta Major Shareholders (%) Temasek - 29.5 Forecast Revision Forecast Revision (%) Net profit (S$m) Consensus TA's / Consensus (%) Previous Rating FY17 FY18 4,418.0 4,836.7 4,577.0 5,009.0 96.5 96.6 Sell (upgraded) Financial Indicators ROE (%) Cost/Income (%) NPL ratio (%) Loan loss coverage (%) BV/ Share (RM) Price/ BV (x) FY17 9.5 45.3 2.1 >100 19.2 1.0 FY18 9.6 46.0 1.6 >100 20.9 0.9 % of FY 27.0 26.0 Within Within DBS 2.6 6.0 13.2 28.1 STI 1.1 3.7 10.5 15.0 Scorecard vs TA vs Consensus Share Performance (%) Price Change 1 mth 3 mth 6 mth 12 mth (12-Mth) Share Price relative to the FSSTI After doubling in total allowances last year, credit charges increased at a more muted pace in 1Q17. Specific allowances for loans rose by 57% YoY to S$193mn during the quarter from S$123mn in 1Q16. According to management, bulk of the charges was for exposures in the oil and gas support services sector. General allowances was of little changed sequentially and yearly. By geography, SPs in Singapore jumped the most (+S$100mn) while charges fell across all geographical regions such as China, Hong Kong and the rest of the world. Credit charge (excluding GP) climbed to 26 bps, up www.taonline.com.my Source: Bloomberg
16. TA Securities 3-May-17 A Member of the TA Group from 18 bps a year ago . Headline NPL stayed pat at 1.4% QoQ but compared to 1QFY16, it had weakened by 40 bps. Meanwhile, allowance coverage stood at 103% from 97% in 4Q. We note that S$350mn was set aside as general allowances during the quarter. An equivalent amount of gains from the divestment of a PWC Building in Singapore was also recorded in 1Q. CET1 ratio remained well above regulatory requirements at 14.6% (FY16: 14.7%). DBS also reported ample liquidity with LCR at 138%. Outlook Despite the challenging market environment, management remains optimistic of sustained business momentum due to visibility from a healthy business pipeline. Backed by multiple business lines, rising levels of productivity as well as strong capital and liquidity buffers, DBS foresees sustained earnings growth in 2017. While uncertainties in the broader economic environment could lead to more provisions, management believes asset quality pressures have moderated. Impact No change to our earnings estimates. Valuation Rolling valuations forward to FY18, we adjust DBS’ TP to S$21.40 from S$16.70. Given that we are also more upbeat on the growth prospects in the region, we lowered our market risk premium assumption for the sector to 5.5%. With that, our new TP valued the stock at an implied FY17e PBV of 1.1x vs. current valuation of c. 1.0x. Upgrade DBS from Sell to HOLD. Table 1: Earnings Summary 2015 FYE Dec 2016 2017F 2018F 2019F Net interest income 7,100.0 7,305.0 7,703.8 8,208.4 8,888.8 Non-interest income 3,837.0 4,184.0 4,635.0 5,113.1 5,619.9 10,937.0 11,489.0 12,338.9 13,321.6 14,508.7 Operating expenses 4,900.0 4,972.0 5,589.5 6,128.1 6,699.0 Operating profit 6,037.0 6,517.0 6,749.4 7,193.5 7,809.7 Net profit 4,454.0 4,238.0 4,418.0 4,836.7 5,487.7 EPS (sen) 175.2 166.7 173.8 190.2 215.8 EPS growth (%) 10.1 (4.8) 4.2 9.5 13.5 Gross div (sen) 60.0 60.0 60.0 60.0 60.0 3.0 3.0 3.0 3.0 3.0 Total operating income Div yield (%) Table 2: 1QFY17 Results Analysis (S$mn) YE 31 Dec 1Q FY16 4Q FY16 1Q FY17 QoQ YoY YTD FY16 YTD FY17 YoY Net interest income 1,833.0 1,824.0 1,831.0 0.4 (0.1) 1,833.0 1,831.0 (0.1) Net fee and commission income 574.0 515.0 665.0 29.1 15.9 574.0 665.0 15.9 Other non interest income 458.0 437.0 390.0 (10.8) (14.8) 458.0 390.0 (14.8) Total income 2,865.0 2,776.0 2,886.0 4.0 0.7 2,865.0 2,886.0 0.7 Operating expenses (1,265.0) (1,223.0) (1,248.0) 2.0 (1.3) (1,265.0) (1,248.0) (1.3) Profit before allowances 1,600.0 1,553.0 1,638.0 5.5 2.4 1,600.0 1,638.0 2.4 (170.0) (462.0) (200.0) (56.7) 17.6 (170.0) (200.0) 17.6 Profit before tax 1,430.0 1,091.0 1,438.0 31.8 0.6 1,430.0 1,438.0 0.6 Core net profit 1,203.0 913.0 1,210.0 32.5 0.6 1,203.0 1,210.0 0.6 Allowances One-time items Net profit 0.0 0.0 35.0 n.m. n.m. 0.0 35.0 1,203.0 913.0 1,245.0 36.4 3.5 1,203.0 1,245.0 Page 2 of 3 n.m. 3.5
17. TA Securities 3-May-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 3 of 3
18. SECTOR UPDATE TA Securities Wednesday , May 03, 2017 FBMKLCI: 1,778.47 A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 Overweight Semiconductor Sector (Maintained) Double Digit Growth Across All Regions THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Paul Yap, CFA Tel: +603-2167-9603 paulyap@ta.com.my www.taonline.com.my Strong First Quarter Global semiconductor sales started off strongly, increasing 18.1% YoY (-0.4% QoQ) to US$92.6bn in the 1Q2017. We see these trends continuing on a monthly basis, with sales reporting its highest growth rate since October 2010, at 18.1% YoY (+1.6% MoM) to US$30.9bn in March 2017. While memory continues to lead the way, all major semiconductor product categories experienced YoY growth. WSTS forecasts a sales growth of 6.5% YoY in 2017 – led by memory (+12.8% YoY), sensors (+9.0% YoY) and analog (+7.8% YoY). Figure 1 : Global Chip Sales US$bn % Worldwide Sales 35.0 Change YoY (%) 70.0 60.0 30.0 50.0 40.0 25.0 30.0 20.0 20.0 15.0 10.0 0.0 10.0 -10.0 -20.0 5.0 -30.0 Jan-17 May-16 Jan-15 Sep-15 May-14 Jan-13 Sep-13 May-12 Jan-11 Sep-11 May-10 Jan-09 Sep-09 May-08 Jan-07 Sep-07 May-06 Jan-05 Sep-05 May-04 Jan-03 -40.0 Sep-03 0.0 Source: SIA, TA Securities Double Digit Growth Across The Board Positive YoY growth persisted across regions. Barring Americas, all regions also recorded MoM growth in March 2017. Double digit growth was reported across the board. Spearheading the movement were China (+26.7% YoY) and Americas (+21.9% YoY). Growth in Japan and Asia Pacific (All Others) remains healthy at 10.7% YoY and 11.9% YoY. Positively, Europe (+11.1% YoY) recorded its first double digit increase since August 2014. Figure 2: Growth in Sales by Region (%YoY) Figure 3: Breakdown of Sales by Region % 100% Americas 100.0 Europe Japan Asia Pacific Worldwide 90% 80% 80.0 70% 60.0 60% 50% 40.0 40% 20.0 30% 0.0 20% -20.0 10% Source: SIA, TA Securities Source: SIA, TA Securities Page 1 of 2 Asia Pacific Jan-17 May-16 Jan-15 Sep-15 May-14 Jan-13 Sep-13 May-12 Jan-11 Japan Sep-11 May-10 Jan-09 Europe Sep-09 May-08 Jan-07 Americas Sep-07 May-06 Jan-05 Sep-05 May-04 Jan-03 Jan-17 May-16 Sep-15 Jan-15 May-14 Sep-13 Jan-13 May-12 Sep-11 Jan-11 May-10 Sep-09 Jan-09 May-08 Jan-07 Sep-07 May-06 Jan-05 Sep-05 May-04 Jan-03 Sep-03 -60.0 Sep-03 0% -40.0
19. TA Securities 3-May-17 A Member of the TA Group Best Since March 2001 Billings in March 2017 increased 69 .2% YoY (+2.6% Mom) to US$2,026.2mn. In absolute terms, this was the largest amount reported since March 2001. The equipment industry is benefitting from the latest semiconductor investment cycle. Growth is expected from investments by memory and foundry fabs. Figure 4 : Billings (US$mn) US$mn 2,500 Billings % YoY 300.0 Growth 250.0 2,000 200.0 150.0 1,500 100.0 1,000 50.0 0.0 500 -50.0 Sep-16 Jul-15 Feb-16 Dec-14 Oct-13 May-14 Mar-13 Jan-12 Aug-12 Jun-11 Apr-10 Nov-10 Sep-09 Jul-08 Feb-09 Dec-07 Oct-06 May-07 Mar-06 Jan-05 -100.0 Aug-05 0 Source: SEMI, TA Securities Overweight We maintain our Overweight stance on the semiconductor sector. Tallying with reported numbers, MPI and Unisem both announced strong 1QFY17 sales. We expect the momentum to continue, supported by expectations of robust semiconductor demand in 2017. Despite the recent strengthening of the ringgit, it remains well within our USD/MYR assumption of RM4.25. We have BUY calls for Inari, Unisem and MPI. Peers Comparison EPS Inari Amertron Unisem MPI Weighted average Inari Amertron Unisem MPI Weighted average Price (RM) 2.11 3.42 12.40 TP (RM) 2.35 3.55 13.15 BUY BUY BUY NTA/Share CY17 CY18 (x) (x) 0.5 0.6 2.1 2.3 5.7 6.6 2.4 2.7 CY17 (x) 4.5 1.6 2.2 3.1 Mkt Cap RMmn 4,036.9 2,509.6 2,466.4 CY17 (sen) 11.4 26.9 99.4 39.8 P/NTA CY18 (sen) 13.1 29.1 118.7 46.5 EPS Growth CY17 CY18 (%) (%) 28.3 15.5 21.8 7.9 16.5 19.4 23.3 14.5 CY18 (%) 25.5 13.5 19.3 20.4 CY17 (sen) 4.6 12.0 27.0 12.8 ROE CY18 (x) 3.8 1.5 1.9 2.6 CY17 (%) 26.2 13.5 18.6 20.6 DPS CY18 (sen) 5.3 12.0 27.0 13.1 PER CY17 (x) 18.5 12.7 12.5 15.3 CY18 (x) 16.0 11.8 10.4 13.3 Div yield CY17 CY18 (%) (%) 2.2 2.5 3.5 3.5 2.2 2.2 2.5 2.7 Sector Recommendation Guideline OVERWEIGHT: The industry, as per our coverage universe, is expected to outperform the FBMKLCI over the next 12 months. NEUTRAL: The industry, as per our coverage universe, is expected to perform in line with the FBMKLCI over the next 12 months. UNDERWEIGHT: The industry, as per our coverage universe, is expected to underperform the FBMKLCI over the next 12 months. Disclaimer The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD(14948-M) (A Participating Organisation of Bursa Malaysia Securities Berhad) Kaladher Govindan – Head of Research Page 2 of 2
20. Wednesday , 03 May, 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
21. T e c h n i c a l TA Securities V i e w Wednesday , May 03, 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: 1,778.47 (+10.41, +0.59%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Name FBMKLCI AFFIN AFG AMBANK AXIATA CIMB DIGI GAMUDA GENTING GENM IHH IOICORP MALAKOFF MAXIS MAYBANK MBSB RHBBANK SIME TENAGA TM WPRTS AIRASIA AIRASIA X ARMADA BINAPURI CMSB DIALOG ECO WORLD GADANG HSL ISKANDAR KIMLUN KKBE MUDAJAYA MRCB NAIM SAPURA ENERGY SUNCON UEMS WASEONG WCT Close 2-May 1778.47 2.97 4.23 5.62 5.17 5.88 5.03 5.31 10.00 5.99 6.19 4.59 1.25 6.44 9.60 1.31 5.54 9.33 13.92 6.47 3.95 3.39 0.48 0.80 0.45 4.60 1.94 1.53 1.29 1.69 3.22 2.38 1.37 1.19 1.57 1.60 2.02 2.07 1.29 0.90 2.27 Change 10.41 0.04 0.10 0.14 0.02 0.14 -0.11 0.04 0.16 0.12 0.01 0.00 -0.01 0.06 0.02 0.00 0.04 0.00 -0.02 0.01 -0.05 0.04 0.03 0.01 0.01 0.05 -0.01 0.01 0.01 -0.01 0.11 -0.01 0.00 -0.01 0.05 0.04 0.02 0.07 0.05 0.01 0.04 Tel: +603-2167-9607 High Low 1,781.55 1,769.16 2.98 4.23 5.69 5.20 5.94 5.13 5.34 10.00 6.00 6.21 4.61 1.27 6.45 9.67 1.32 5.55 9.34 13.96 6.50 4.04 3.40 0.48 0.80 0.46 4.62 1.95 1.54 1.30 1.71 3.25 2.40 1.38 1.20 1.58 1.60 2.02 2.07 1.30 0.92 2.30 2.93 4.09 5.49 5.15 5.75 5.01 5.25 9.85 5.85 6.17 4.54 1.25 6.39 9.54 1.30 5.45 9.28 13.86 6.40 3.94 3.35 0.46 0.79 0.44 4.55 1.93 1.51 1.26 1.69 3.12 2.36 1.37 1.18 1.52 1.57 1.97 2.00 1.24 0.89 2.20 Bollinger Bands Lower Mid Upper 1,721.65 1,748.91 1,776.16 2.76 3.92 4.52 4.97 5.28 5.05 5.06 9.10 5.29 5.93 4.39 1.19 6.36 8.67 1.15 4.99 9.25 13.62 6.34 3.95 2.93 0.36 0.75 0.43 4.19 1.73 1.47 1.24 1.65 2.87 2.15 1.25 1.00 1.49 1.49 1.91 1.72 1.19 0.88 1.93 2.87 4.06 5.05 5.09 5.56 5.12 5.18 9.57 5.67 6.06 4.55 1.24 6.42 9.15 1.25 5.24 9.30 13.77 6.42 4.05 3.16 0.41 0.78 0.45 4.39 1.83 1.51 1.29 1.67 3.03 2.26 1.33 1.12 1.65 1.56 2.00 1.88 1.25 0.89 2.07 2.98 4.20 5.58 5.21 5.84 5.19 5.29 10.05 6.05 6.19 4.70 1.28 6.47 9.62 1.35 5.49 9.36 13.91 6.51 4.14 3.40 0.46 0.82 0.46 4.60 1.93 1.55 1.33 1.70 3.19 2.37 1.40 1.24 1.81 1.64 2.09 2.03 1.31 0.91 2.22 stsoo@ta.com.my RSI Moving Averages 14d 10d 30d 50d 73.30 1,758.24 1,748.62 1,735.91 DMI DI + DI - ADX 41.97 10.74 32.97 Diff 31.23 71.00 68.67 83.20 60.43 77.26 32.71 63.71 65.32 63.91 67.53 52.18 57.68 53.84 83.95 63.80 72.22 57.39 67.29 61.75 41.80 76.34 78.64 58.58 54.06 75.93 71.55 54.02 55.32 54.86 72.88 72.43 64.07 65.76 44.00 59.39 57.71 77.79 59.50 56.77 77.47 35.90 32.17 50.37 29.68 40.34 15.07 32.52 33.22 29.86 33.76 17.33 20.57 11.17 46.68 33.31 31.47 16.26 29.42 26.47 15.00 33.55 35.26 28.73 24.75 31.77 35.71 18.69 27.39 30.05 35.48 44.59 42.68 36.81 18.41 30.42 24.75 38.56 24.98 36.53 40.64 22.35 17.14 42.62 14.62 28.01 (7.25) 20.25 22.23 18.43 23.61 (4.59) 9.30 (0.35) 40.35 18.22 19.17 (6.25) 17.33 11.48 (4.74) 25.56 30.63 8.86 20.29 27.14 27.14 6.22 9.46 9.57 20.86 34.48 20.25 22.95 (2.99) 16.09 4.85 26.12 9.28 22.09 28.42 2.89 4.07 5.24 5.11 5.64 5.14 5.19 9.74 5.80 6.10 4.54 1.23 6.43 9.32 1.27 5.30 9.30 13.80 6.46 4.03 3.25 0.43 0.78 0.44 4.47 1.85 1.52 1.27 1.67 3.08 2.28 1.34 1.12 1.59 1.54 1.98 1.92 1.25 0.89 2.10 2.87 4.07 4.98 5.08 5.58 5.13 5.19 9.61 5.64 6.04 4.59 1.22 6.42 9.08 1.25 5.25 9.32 13.75 6.41 4.03 3.09 0.41 0.77 0.44 4.35 1.79 1.52 1.28 1.68 2.90 2.24 1.30 1.07 1.65 1.55 1.95 1.84 1.26 0.89 2.01 2.80 4.03 4.90 4.91 5.45 5.11 5.10 9.48 5.51 6.02 4.63 1.21 6.40 8.92 1.21 5.19 9.25 13.71 6.34 4.01 2.96 0.41 0.75 0.45 4.28 1.74 1.52 1.24 1.68 2.43 2.23 1.29 1.00 1.58 1.56 1.94 1.80 1.23 0.89 1.95 13.55 15.03 7.75 15.06 12.33 22.31 12.27 10.98 11.43 10.15 21.92 11.27 11.52 6.34 15.09 12.31 22.51 12.09 14.98 19.74 7.99 4.63 17.09 15.90 11.49 8.57 12.47 17.93 20.48 14.61 10.11 22.44 13.86 21.41 14.33 19.90 12.44 15.70 14.44 12.22 31.15 20.53 34.84 22.70 29.28 16.70 20.29 35.78 33.68 25.98 16.25 22.16 6.72 37.34 30.38 21.64 11.62 18.83 27.89 12.60 41.80 31.33 26.57 21.17 22.60 42.22 23.17 25.57 17.80 43.27 30.31 23.36 40.55 30.01 20.68 15.87 38.76 20.70 26.82 22.59 www.taonline.com.my Line 9.87 0.04 0.03 0.18 0.06 0.09 0.00 0.03 0.13 0.13 0.04 -0.01 0.00 0.01 0.18 0.02 0.07 0.02 0.05 0.04 -0.01 0.11 0.01 0.01 0.00 0.08 0.05 0.00 0.01 0.00 0.19 0.04 0.02 0.05 -0.02 0.00 0.02 0.06 0.01 0.00 0.07 MACD Signal Diff 7.10 2.771 0.03 0.01 0.11 0.06 0.06 0.01 0.02 0.09 0.10 0.02 -0.03 0.00 0.01 0.13 0.02 0.03 0.02 0.03 0.04 0.00 0.10 0.01 0.01 0.00 0.06 0.04 0.00 0.01 0.00 0.21 0.02 0.02 0.04 0.00 0.00 0.02 0.04 0.00 0.00 0.05 0.008 0.017 0.069 (0.001) 0.032 (0.006) 0.011 0.042 0.027 0.020 0.016 0.002 (0.002) 0.051 0.008 0.036 (0.002) 0.020 (0.001) (0.010) 0.017 0.008 (0.001) (0.000) 0.021 0.009 0.002 (0.004) 0.004 (0.027) 0.016 0.002 0.007 (0.019) 0.001 (0.003) 0.018 0.002 (0.000) 0.018 DMI MACD Recent Signal BUY BUY DMI MACD Signal Change - BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY SELL BUY SELL BUY BUY BUY SELL BUY BUY SELL BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY - BUY BUY BUY SELL BUY SELL BUY BUY BUY BUY BUY BUY SELL BUY BUY BUY SELL BUY SELL SELL BUY BUY SELL SELL BUY BUY BUY SELL BUY SELL BUY BUY BUY SELL BUY SELL BUY BUY SELL BUY SELL BUY BUY - The table above is a compilation of actively traded stocks with some popular technical indicators. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. INTERPRETATION OF TECHNICAL INDICATORS: Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30-day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average, and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Page 1 of 2
22. Technical Comments : BUY MRCB & UEM Sunrise Hook-up momentum indicators on MRCB implies the time is ripe for oversold rebound towards the 76.4%FR (RM1.62), with a confirmed breakout to aim for RM1.70 and re-test the 5/4/17 peak (RM1.80). Key retracement support at the 50%FR (RM1.50) is reinforced by the 100-day ma (RM1.49). Fresh DMI and MACD buy signals on UEM Sunrise support a challenge of the 5/4/17 high (RM1.34), with a successful breach to target the 123.6%FP (RM1.42) and 138.2%FP (RM1.47) ahead. Key retracement support from the 50%FR (RM1.17) matched the recent correction low. MRCB Upper Middle RM1.57 (+0.05) BOLLINGER BANDS RM RM 1.81 1.65 10-day 30-day RM 1.49 50-day Lower DMI Recent Signal SELL 1.58 Recent Signal SELL Signal Change UEMS Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 1.59 RM 1.65 BOLLINGER BANDS RM RM RM DMI RM1.29 (+0.05) 1.31 1.25 1.19 BUY BUY SIMPLE MOVING AVERAGES RM 1.25 RM 1.26 RM 1.23 DAILY MACD Recent Signal BUY Signal Change BUY 10-day 30-day 50-day Page 2 of 2
23. T e c h n i c a l TA Securities V i e w Wednesday , May 03, 2017 FBMKLCI: 1,778.47 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 02.05.2017 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 LUSTER INDUSTRIE DIGISTAR CORP G NEPTUNE BHD EA HOLDINGS MALAYAN UTD INDS WINTONI GROUP BH PWORTH BIO OSMO BHD FRONTKEN CORP BIOALPHA HOLDING SKH CONSORTIUM B VIZIONE HOLDINGS IJM CORP BHD COMPUGATES HOLDI BUMI ARMADA BHD TA GLOBAL BHD MALAKOFF CORP BH HIAP TECK VENTUR PANPAGES BHD KARAMBUNAI CORP K-ONE TECHNOLOGY KNM GROUP BHD PERAK TRANSIT BH GADANG HLDGS BHD NETX HOLDINGS BH D&O GREEN TECH JOHAN HLDGS BHD OPENSYS M BHD KARYON INDUS BHD SILK HOLDINGS BH Price 0.14 0.22 0.05 0.11 0.23 0.05 0.24 0.11 0.25 0.27 0.16 0.14 3.50 0.04 0.80 0.38 1.25 0.32 0.34 0.07 0.24 0.30 0.26 1.29 0.04 0.65 0.32 0.37 0.29 0.49 Bollinger Band Moving Average RSI Lower Middle Upper 14-day 10-day 30-day 50-day 0.11 0.19 0.04 0.07 0.15 0.04 0.18 0.08 0.22 0.25 0.11 0.13 3.44 0.03 0.75 0.33 1.19 0.30 0.30 0.06 0.20 0.28 0.23 1.24 0.03 0.61 0.20 0.34 0.25 0.44 0.12 0.21 0.04 0.10 0.22 0.05 0.23 0.10 0.24 0.26 0.15 0.13 3.49 0.04 0.78 0.36 1.24 0.31 0.33 0.07 0.23 0.29 0.25 1.29 0.04 0.64 0.31 0.35 0.28 0.48 0.14 0.22 0.05 0.13 0.29 0.06 0.27 0.12 0.26 0.28 0.19 0.14 3.53 0.04 0.82 0.40 1.28 0.33 0.36 0.08 0.26 0.30 0.27 1.33 0.05 0.67 0.42 0.37 0.31 0.51 63.67 58.13 52.23 62.07 56.44 53.63 62.36 58.08 54.78 55.82 61.53 55.50 54.98 57.73 58.58 62.87 57.68 53.31 57.40 54.86 57.55 49.25 59.11 55.32 55.00 56.71 58.46 61.29 57.57 52.45 0.13 0.21 0.04 0.11 0.23 0.05 0.24 0.11 0.24 0.26 0.16 0.13 3.49 0.04 0.78 0.35 1.23 0.31 0.33 0.06 0.22 0.29 0.25 1.27 0.04 0.64 0.32 0.35 0.27 0.48 0.12 0.21 0.04 0.09 0.20 0.04 0.21 0.09 0.24 0.26 0.13 0.13 3.49 0.04 0.77 0.37 1.22 0.32 0.32 0.07 0.23 0.30 0.25 1.28 0.04 0.64 0.27 0.35 0.27 0.48 0.11 0.20 0.04 0.08 0.19 0.05 0.18 0.08 0.24 0.25 0.10 0.12 3.45 0.04 0.75 0.35 1.21 0.33 0.31 0.07 0.21 0.30 0.23 1.24 0.03 0.58 0.23 0.35 0.26 0.47 Vol 24,305,600 18,471,900 15,473,600 15,284,700 14,151,400 13,277,500 13,182,900 12,841,100 12,728,100 12,441,000 12,019,900 11,323,700 9,235,900 9,181,300 9,172,900 8,362,300 8,222,800 8,199,000 7,637,100 7,010,000 5,475,000 5,445,100 5,229,400 4,928,600 4,571,000 4,468,400 4,429,200 4,313,700 4,266,100 4,154,600 20-day avg vol 28,528,020 11,974,430 1,690,630 33,715,700 46,228,900 7,326,175 58,263,700 17,776,950 12,317,230 13,087,440 42,148,470 16,904,240 4,443,270 3,833,005 17,227,030 3,476,215 8,847,045 4,747,145 7,745,845 2,279,310 4,167,870 11,773,950 7,728,535 4,815,175 25,338,770 8,290,150 26,100,220 1,822,165 6,132,520 2,440,015 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
24. 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 ABLEGROUP BHD POLY GLASS FIBRE KUMP POWERNET CARING PHARMACY WHITE HORSE BHD LEADER STEEL HLD FOCUS DYNAMICS G KWANTAS CORP BHD WEIDA M BHD LB ALUMINIUM BHD ADV PACKAGIN (M) FARLIM GROUP FLBHD TEKALA CORP BHD YLI HLDGS BHD AYS VENTURES BHD YEN GLOBAL BHD DUFU TECHNOLOGY CENSOF HOLDINGS 0.19 0.61 0.68 1.72 2.02 0.46 0.15 1.60 1.93 0.77 2.44 0.62 1.69 0.56 0.49 0.44 1.36 1.31 0.40 1.77 MWE HOLDINGS BHD Raw data sourced from Bloomberg 20 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 0.08 0.20 0.31 1.29 1.96 0.40 0.08 1.42 1.81 0.67 2.13 0.52 1.55 0.32 0.45 0.38 0.91 1.09 0.31 1.34 0.12 0.33 0.45 1.44 1.99 0.43 0.11 1.50 1.86 0.71 2.26 0.56 1.60 0.42 0.47 0.40 1.12 1.16 0.35 1.51 0.15 0.46 0.59 1.60 2.01 0.45 0.13 1.59 1.91 0.75 2.38 0.59 1.65 0.51 0.48 0.43 1.33 1.24 0.39 87.53 81.65 85.28 81.64 64.13 59.48 80.81 63.25 64.68 70.45 66.07 71.82 69.37 81.58 64.46 65.13 72.49 71.96 69.13 78.24 0.12 0.35 0.47 1.49 1.99 0.43 0.11 1.51 1.87 0.70 2.29 0.55 1.60 0.45 0.47 0.40 1.19 1.17 0.35 1.54 0.11 0.32 0.42 1.41 1.99 0.43 0.10 1.53 1.86 0.72 2.26 0.55 1.61 0.40 0.47 0.40 1.11 1.16 0.34 1.45 0.11 0.32 0.41 1.40 2.00 0.44 0.10 1.53 1.87 0.70 2.25 0.54 1.62 0.38 0.46 0.40 1.09 1.09 0.33 1.41 1.67 Vol 77,324,300 1,069,500 1,365,500 179,900 163,000 1,947,600 23,950,400 32,000 790,400 8,617,200 42,800 1,075,100 2,247,000 4,796,300 247,400 6,133,100 625,700 9,532,000 69,947,100 1,508,500 20-day avg vol 4,409,310 67,070 94,540 17,890 19,725 262,195 3,249,775 4,670 126,640 1,428,545 7,295 200,815 432,200 926,565 47,900 1,257,475 130,080 1,982,320 14,876,810 325,435 *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 MKH BHD CYCLE & CARR BIN 7-ELEVEN MALAYSI CLASSIC SCENIC KOSSAN RUBBER IN DIGI.COM BHD IBRACO BHD TH HEAVY ENGINEE CHIN WELL HOLDIN ICON OFFSHORE SUPERMAX CORP BRIGHT PACKAGING PCHEM BERJAYA LAND GOH BAN HUAT FELDA GLOBAL VEN WESTPORTS HOLDIN RAYA INTERNATION DAYA MATERIALS TECK GUAN PERDAN Price 2.41 2.66 1.56 1.86 5.69 5.03 0.87 0.09 1.66 0.40 1.90 0.33 7.28 0.52 1.35 1.95 3.95 0.22 0.08 2.01 Bollinger Band RSI Moving Average Lower Middle Upper 14-day 10-day 30-day 50-day 2.55 2.70 1.59 1.88 5.71 5.05 0.88 0.10 1.67 0.41 1.91 0.33 7.29 0.52 1.35 1.95 3.95 0.22 0.08 2.01 2.83 2.81 1.66 1.95 6.08 5.12 0.94 0.13 1.74 0.46 1.95 0.36 7.60 0.55 1.38 2.05 4.05 0.23 0.09 2.10 3.10 2.91 1.74 2.01 6.44 5.19 0.99 0.16 1.81 0.51 2.00 0.39 7.91 0.58 1.40 2.14 4.14 0.24 0.09 2.18 15.13 26.63 39.68 32.57 16.69 32.71 32.09 20.82 29.31 23.90 27.45 33.37 32.60 26.36 29.06 42.59 41.80 37.68 43.56 33.40 2.77 2.77 1.67 1.93 5.95 5.14 0.92 0.12 1.72 0.45 1.94 0.35 7.47 0.54 1.37 2.05 4.03 0.23 0.09 2.06 2.88 2.82 1.61 1.95 6.15 5.13 0.93 0.14 1.75 0.47 1.97 0.36 7.59 0.56 1.39 2.05 4.03 0.23 0.09 2.21 2.90 2.86 1.56 1.95 6.23 5.11 0.94 0.14 1.74 0.47 1.99 0.35 7.50 0.57 1.39 1.97 4.01 0.22 0.08 2.22 Vol 152,900 247,600 988,100 133,500 769,400 10,080,100 54,300 27,203,400 1,243,200 2,626,000 1,330,500 1,458,000 5,117,300 274,100 10,000 50,507,500 1,794,400 2,222,500 8,163,300 80,900 20-day avg vol 437,324 64,445 1,382,475 58,050 409,185 5,184,080 62,485 7,433,795 347,950 5,330,015 1,351,660 628,730 7,421,790 80,055 9,190 10,290,940 1,922,410 846,370 4,666,520 56,690 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
25. Wednesday , 03 May, 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
26. TA Securities T e c h n i c a l V i e w Wednesday , May 03, 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: 5,950.37 (-6.16, -0.10%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Name ASX 200 BHP BILLITON RIO TINTO COMMONW BK AUSTR WESTPAC BANKING AUST AND NZ BANK NATL AUST BANK WESFARMERS WOODSIDE PETRO NEWCREST MINING WESTFIELD GROUP FORTESCUE METALS QBE INSURANCE ORIGIN ENERGY AMP SANTOS MACQUARIE GROUP SUNCORP GROUP ORICA OIL SEARCH COCA-COLA AMATIL AMCOR STOCKLAND ALUMINA COMPUTERSHARE QANTAS AIRWAYS SIMS METAL MGMT Tel: +603-2167 9607 stsoo@ta.com.my www.taonline.com.my Close Bollinger Bands RSI Moving Averages DMI MACD DMI MACD DMI MACD Change High Low 2-May Lower Mid Upper 14d 10d 30d 50d DI + DI - ADX Diff Line Signal Diff Recent Signal Signal Change 5950.37 -6.16 5956.50 5919.00 5801.76 5885.39 5969.01 63.59 5885.25 5851.48 5815.47 32.40 19.24 21.13 13.17 34.28 29.25 5.029 BUY BUY 23.76 -0.12 23.97 23.65 23.10 24.28 25.46 42.87 23.88 24.26 24.64 20.59 31.20 15.95 (10.61) -0.24 -0.20 (0.038) SELL SELL 59.96 0.11 60.43 59.71 58.15 60.14 62.14 47.88 59.62 60.32 61.36 21.24 27.07 13.98 (5.83) -0.36 -0.47 0.112 SELL BUY 86.83 -0.63 87.21 86.23 84.33 86.09 87.86 57.25 86.36 85.53 84.88 24.76 20.91 15.06 3.85 0.67 0.58 0.098 BUY BUY 34.98 -0.32 35.00 34.65 33.99 34.71 35.43 55.55 34.70 34.59 34.49 24.83 20.94 12.70 3.88 0.18 0.13 0.043 BUY BUY 32.25 -0.70 32.38 31.97 31.02 31.94 32.86 54.72 32.12 31.81 31.60 27.19 23.32 15.93 3.86 0.29 0.22 0.070 BUY BUY 34.01 -0.08 34.01 33.72 32.20 33.20 34.20 65.61 33.41 32.93 32.68 28.79 14.10 20.60 14.69 0.38 0.29 0.095 BUY BUY 43.31 -0.30 43.61 43.10 43.04 44.28 45.53 42.26 43.81 44.22 43.85 19.44 27.45 18.39 (8.01) -0.15 0.04 (0.196) SELL SELL 32.30 0.07 32.39 32.00 31.59 32.64 33.68 50.15 32.40 32.22 31.81 26.73 29.53 17.17 (2.81) 0.12 0.24 (0.122) SELL SELL 20.96 -0.08 20.97 20.71 20.79 23.27 25.75 28.89 22.62 23.00 22.64 18.14 40.73 25.30 (22.59) -0.33 0.09 (0.425) SELL SELL 9.19 0.07 9.19 9.09 8.86 9.07 9.28 59.40 9.12 8.94 8.87 26.41 17.91 26.51 8.50 0.08 0.09 (0.004) BUY SELL 5.27 0.02 5.35 5.23 4.78 5.68 6.57 36.76 5.27 5.90 6.17 9.91 34.65 42.84 (24.74) -0.28 -0.27 (0.016) SELL SELL 12.88 -0.15 13.07 12.83 12.41 12.79 13.16 53.32 12.70 12.80 12.73 27.76 20.15 14.91 7.61 0.03 0.00 0.023 BUY BUY 7.36 0.19 7.36 7.15 6.97 7.31 7.64 57.39 7.35 7.14 6.91 30.98 26.69 25.33 4.29 0.11 0.14 (0.036) BUY SELL BUY 5.39 -0.01 5.39 5.32 5.10 5.25 5.40 69.77 5.28 5.18 5.10 24.89 7.83 31.86 17.06 0.07 0.06 0.012 BUY BUY 3.56 0.11 3.57 3.43 3.42 3.69 3.96 43.22 3.57 3.70 3.72 19.31 32.38 20.90 (13.07) -0.07 -0.04 (0.024) SELL SELL 92.70 -1.39 94.75 92.54 85.24 89.45 93.66 64.26 90.09 89.04 88.45 37.51 16.37 20.19 21.14 1.19 0.62 0.565 BUY BUY 14.13 0.12 14.13 14.02 12.71 13.42 14.12 74.00 13.67 13.32 13.33 36.24 15.01 18.93 21.23 0.20 0.11 0.083 BUY BUY 18.66 -0.03 18.89 18.57 17.17 17.97 18.77 61.97 18.22 17.89 18.12 28.78 11.54 21.33 17.23 0.17 0.05 0.119 BUY BUY 7.09 -0.09 7.18 7.03 7.06 7.32 7.58 42.30 7.24 7.22 7.13 17.47 27.08 17.06 (9.61) 0.02 0.05 (0.038) SELL SELL 9.50 0.10 9.52 9.39 9.04 10.28 11.52 28.52 9.83 10.35 10.35 12.46 43.47 39.25 (31.01) -0.29 -0.15 (0.140) SELL SELL 15.71 -0.01 15.96 15.69 14.89 15.37 15.85 71.37 15.56 15.20 14.85 31.76 13.78 26.17 17.98 0.24 0.22 0.017 BUY BUY 4.97 0.08 4.97 4.90 4.62 4.82 5.03 65.36 4.89 4.74 4.70 24.15 20.82 23.31 3.33 0.07 0.07 0.001 BUY BUY BUY BUY 1.75 -0.07 1.80 1.74 1.74 1.79 1.85 44.23 1.79 1.79 1.83 22.24 31.36 9.37 (9.11) -0.01 -0.01 0.003 SELL BUY 14.73 -0.18 14.95 14.65 13.35 14.07 14.79 65.92 14.13 13.99 13.91 33.33 19.82 19.31 13.51 0.20 0.10 0.099 BUY BUY 4.36 0.01 4.36 4.29 3.71 4.01 4.30 81.89 4.09 3.97 3.86 37.23 8.90 28.22 28.32 0.12 0.08 0.038 BUY BUY 12.46 0.29 12.50 11.98 11.41 12.12 12.83 56.01 11.92 12.27 12.42 26.66 20.65 13.54 6.01 -0.08 -0.13 0.057 BUY BUY - 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 3
27. TA Securities A Member of the TA Group Corporate News : Qantas Airways and Cathay Pacific Airways are limbering up for a fightback against arrival of Virgin Australia, the latest carrier to offer flights between Hong Kong and Australia. Qantas, Australia’s national airline, said it would send the world’s largest passenger aircraft, the Airbus A380, from Melbourne to Hong Kong at peak times including Lunar New Year and school holidays. – Bloomberg. Technical Comments: Qantas Airways should fall for overbought correction from the recent rally, with good key retracement supports found at the 76.4%FR (AUD3.93) and 61.8%FR (AUD3.67), and the 200-day ma (AUD3.40) acting as stronger support, ahead. Immediate upside is seen at the 123.6%FP (AUD4.76). QANTAS AIRWAYS AUD4.36 (+0.01) 0 Upper Middle Lower Recent Signal Signal Change BOLLINGER BANDS AUD AUD AUD DMI 4.29 4.00 3.72 BUY SIMPLE MOVING AVERAGES AUD 4.08 AUD 3.97 AUD 3.86 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 3
28. TA Securities A Member of the TA Group INTERPRETATION OF TECHNICAL INDICATORS : Bollinger Bands: Variable width bands that narrow during less volatile periods and widen during more volatile periods. As a general rule, in a bearish trend, traders should buy when share price touches the lower band and exit when price touches the middle band. The reverse is true in a bullish trend, ie. Buy when price touches the middle band and sell when price touches the upper band. Momentum traders tend to buy on price breakouts above the upper band, and sell when price breaks down below the lower band. 14-day Relative Strength Index (RSI): A reading below 30 is considered oversold, above 70 is overbought. A rise above 50 with a corresponding share price surge above the 30day moving average should be taken as a bullish move with good short-term upside potential. A fall below 50 and a simultaneous dip below the 30-day average is bearish and imply further near-term downside risk. Moving Averages: A stock’s short-term trend is bullish if share price stays above the 10-day moving average, and bearish if it stays below. The medium-term trend is positive if share price stays above the 30-day average and negative if it remains below. A longer-term uptrend is intact if share price sustain above the 50-day average, and is deemed broken if it breaches below this level. Directional Movement Indicator (DMI): The DMI is an indicator of trend strength. A positive DMI difference (DMI diff) value is bullish and indicate a higher DI+ vs. DI-, while a negative DMI diff is bearish due to a lower DI+ vs. DI- (DMI diff = DI+ minus DI-). A crossover of DI+ above DI- triggers a BUY signal, while a SELL signal is flashed when the DI+ crosses below the DI-. The Average Directional Movement Index (ADX) indicates the strength of a trend, whether it is up or down. The higher the value of ADX, the stronger the trend. An ADX value above 25 suggests a trending market or stock, while a value below 20 signal congestion or absence of trend. Daily Moving Average Convergence Divergence (MACD): The MACD diff value is derived from the difference between the MACD line (the 12-day EMA minus the 26-day EMA) and the MACD signal line (the 9-day EMA of the MACD). A positive MACD diff value is bullish, while a negative MACD diff is bearish. A BUY signal is generated when the MACD diff rises above zero, and SELL signal sparked when the MACD diff value falls below zero. Fundamentals of Foreign Technical Picks Bloomberg Ticker Stock Name BHP AU BHP BILLITON LTD RIO AU RIO TINTO LTD CBA AU COMMONW BK AUSTR WBC AU WESTPAC BANKING ANZ AU AUST AND NZ BANK NAB AU NATL AUST BANK WES AU WESFARMERS LTD WPL AU WOODSIDE PETRO NCM AU NEWCREST MINING WFD AU WESTFIELD GROUP FMG AU FORTESCUE METALS QBE AU QBE INSURANCE ORG AU ORIGIN ENERGY AMP AU AMP LTD STO AU SANTOS LTD MQG AU MACQUARIE GROUP SUN AU SUNCORP GROUP LT ORI AU ORICA LTD OSH AU OIL SEARCH LTD CCL AU COCA-COLA AMATIL AMC AU AMCOR LTD SGP AU STOCKLAND AWC AU ALUMINA LTD CPU AU COMPUTERSHARE LT QAN AU QANTAS AIRWAYS SGM AU SIMS METAL MGMT EPS ($) Div Yield(%) PER(x) 52week Price % Chg Close Target Price % upside 23.76 27.70 14% 59.96 70.56 15% 4.65 3.44 9.7 13.1 4.578 3.421 69.80 41.51 0.10 86.83 83.86 -4% 5.65 5.87 15.4 14.8 4.885 5.033 87.74 69.22 5.36 34.98 34.40 -2% 2.42 2.52 14.5 13.9 5.329 5.377 35.39 27.57 7.30 32.25 31.68 -2% 2.39 2.44 13.5 13.2 5.020 5.091 32.95 22.66 6.02 34.01 32.83 -4% 2.42 2.48 14.0 13.7 5.775 5.751 34.09 23.90 10.89 43.31 43.44 0% 2.58 2.62 16.8 16.6 5.066 5.147 46.06 38.62 2.78 32.30 33.15 3% 1.26 1.44 19.3 16.9 3.158 3.533 33.97 25.10 3.66 20.96 22.25 6% 0.62 0.83 25.3 19.0 0.711 1.054 27.20 16.35 3.51 9.19 9.48 3% 0.33 0.36 21.0 19.3 2.786 2.840 11.14 8.21 -2.03 -10.53 2017 2018 2017 2018 2017 2018 High Low YTD 1.48 1.25 12.1 14.3 3.607 3.363 27.96 17.29 -5.19 5.27 6.21 15% 0.78 0.49 5.1 8.0 5.901 3.624 7.27 2.81 12.88 13.68 6% 0.64 0.81 15.1 12.0 3.307 3.890 13.28 9.22 3.70 7.36 7.36 0% 0.30 0.55 24.6 13.4 0.000 1.440 7.57 4.69 11.68 5.39 5.31 -1% 0.36 0.37 15.1 14.4 5.380 5.640 5.96 4.39 6.94 3.56 4.34 18% 0.12 0.17 22.1 15.9 0.955 1.854 5.07 3.30 -11.44 92.70 90.52 -2% 6.16 6.38 15.1 14.5 4.605 4.820 94.75 61.05 6.40 14.13 13.80 -2% 0.90 0.97 15.6 14.5 5.166 5.556 14.13 11.27 4.51 18.66 16.75 -11% 1.05 1.13 17.7 16.5 2.872 3.103 19.49 12.04 5.54 7.09 8.03 12% 0.21 0.24 25.5 21.9 1.227 1.481 7.75 6.19 -1.12 -6.13 9.50 9.47 0% 0.55 0.57 17.2 16.6 4.832 4.958 10.87 7.94 15.71 15.97 2% 0.61 0.65 19.5 18.2 2.718 3.043 16.66 13.62 5.08 4.97 4.83 -3% 0.32 0.34 15.5 14.7 5.171 5.372 5.11 4.03 8.52 1.75 1.79 2% 0.11 0.10 12.3 13.9 5.943 5.829 2.04 1.21 -4.37 14.73 14.07 -5% 0.56 0.62 19.9 17.9 1.819 1.948 15.04 8.63 18.22 4.36 4.53 4% 0.52 0.53 8.34 8.26 3.394 3.876 4.36 2.58 30.93 12.46 12.31 -1% 0.63 0.71 19.8 17.5 3.058 3.082 13.62 7.40 -2.88 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 3 of 3
29. T e c h n i c a l TA Securities V i e w Wednesday , May 03, 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: 24,696.13 (+81.00, +0.33%) THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Close Name 2-May HANG SENG 24,696.13 HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA GALAXY 64.45 82.85 6.30 5.07 8.97 23.65 3.75 117.40 5.45 248.40 191.60 97.75 43.70 6.24 18.20 81.75 3.27 32.20 158.10 15.50 74.80 19.74 66.75 22.45 70.05 6.07 49.25 5.93 3.73 10.06 32.20 6.00 45.00 13.10 18.68 9.58 21.25 22.30 13.92 3.81 11.16 11.24 8.63 2.67 2.36 54.75 35.30 43.30 Change High Tel: +603-2167 9607 Lower 81.00 0.20 (0.10) (0.02) (0.01) (0.10) 0.00 (0.02) 0.70 (0.03) 5.00 0.00 0.60 (0.10) (0.06) 0.06 (0.30) 0.01 0.20 0.40 (0.04) (0.10) (0.66) 0.30 (0.15) 0.05 0.80 (0.05) (0.06) (0.05) 0.02 0.00 (0.04) 0.20 (0.08) (0.04) (0.11) (0.35) 0.05 (0.10) (0.02) (0.04) (0.04) 0.11 0.00 0.04 0.90 0.00 0.00 24,773.80 24,577.33 64.50 83.45 6.37 5.15 9.08 23.90 3.80 118.30 5.50 248.40 193.00 97.95 44.30 6.36 18.50 82.35 3.28 32.35 158.40 15.60 75.95 20.35 68.15 22.65 70.10 6.15 49.80 6.05 3.83 10.14 32.40 6.07 45.00 13.30 19.18 9.75 21.70 22.40 14.10 3.89 11.40 11.28 8.67 2.71 2.39 55.00 35.80 43.85 64.05 82.60 6.25 5.04 8.92 23.55 3.74 116.50 5.41 244.80 190.60 96.80 43.70 6.23 18.12 81.20 3.25 32.05 157.00 15.40 74.50 19.42 66.20 22.30 69.70 6.05 49.05 5.91 3.73 10.00 32.00 5.97 44.80 13.04 18.52 9.52 21.10 22.15 13.90 3.80 11.16 11.10 8.56 2.67 2.32 53.85 35.05 42.80 RSI Bollinger Bands Low 23,805.10 61.99 82.07 6.11 4.90 8.89 22.44 3.61 114.41 5.41 217.83 189.51 93.15 41.52 6.18 17.78 79.29 3.20 30.78 153.73 15.18 72.74 19.49 65.59 22.16 66.59 4.79 48.27 5.78 3.70 9.86 30.80 5.77 43.50 12.73 17.83 9.52 20.95 21.81 13.64 3.76 10.79 10.75 8.23 2.49 2.33 46.86 34.84 41.76 Mid stsoo@ta.com.my Upper 14d 24,278.74 24,752.38 62.80 63.39 84.39 6.26 5.04 9.24 23.37 3.74 116.72 5.62 233.01 193.64 95.58 42.91 6.36 18.12 81.32 3.30 31.65 157.02 15.58 76.08 20.24 66.62 22.80 68.52 5.22 49.19 5.96 3.97 10.40 31.84 6.17 44.35 13.31 18.69 9.69 21.92 22.42 14.07 3.97 11.14 11.05 8.50 2.75 2.37 50.38 36.36 43.00 64.78 86.70 6.41 5.17 9.60 24.30 3.87 119.03 5.82 248.19 197.77 98.00 44.31 6.54 18.47 83.36 3.39 32.53 160.31 15.98 79.41 21.00 67.65 23.43 70.46 5.66 50.11 6.14 4.24 10.94 32.87 6.56 45.19 13.89 19.54 9.87 22.90 23.02 14.50 4.17 11.48 11.34 8.77 3.01 2.42 53.89 37.87 44.24 59.55 38.67 52.24 52.14 36.76 53.00 47.45 56.72 28.25 75.62 43.28 64.47 61.08 47.17 57.84 57.16 39.04 60.96 52.87 52.90 39.89 43.02 53.32 37.41 63.85 84.67 59.57 45.93 32.97 45.53 54.34 33.68 69.19 44.35 52.92 44.21 42.43 51.50 44.93 41.29 49.89 55.85 56.02 35.73 48.18 75.55 46.10 58.05 Moving Averages 10d 24,303.30 63.31 83.38 6.25 5.02 9.08 23.19 3.72 116.75 5.53 239.00 191.86 95.56 42.86 6.30 18.01 80.69 3.26 31.42 156.17 15.41 74.74 20.00 66.41 22.84 68.97 5.35 49.23 5.94 3.86 10.18 31.65 6.01 44.56 13.06 18.90 9.67 21.89 22.23 13.92 3.98 11.10 11.04 8.47 2.68 2.36 51.18 35.81 42.77 30d www.taonline.com.my DMI 50d DI + DMI MACD DI - ADX Diff Line Signal Diff MACD Recent Signal DMI MACD Signal Change 24,306.87 24,120.87 31.04 19.46 17.98 11.58 136.45 88.24 48.204 BUY BUY - - 63.40 85.49 6.31 5.08 9.21 23.74 3.81 116.02 5.68 230.41 194.70 96.05 43.12 6.28 18.15 81.02 3.45 31.79 157.58 15.49 76.69 20.35 67.19 23.18 68.18 5.22 48.69 6.02 4.00 10.37 31.95 6.36 43.88 13.46 18.46 9.73 22.01 22.27 14.20 3.94 11.16 11.11 8.53 2.87 2.38 50.19 36.02 42.43 63.77 85.56 6.30 5.07 9.20 23.82 3.85 114.62 5.78 222.80 194.83 95.64 42.60 6.17 17.36 79.95 3.49 31.57 158.65 15.28 78.04 20.13 65.46 23.52 68.48 5.25 47.23 6.07 4.03 10.00 32.15 6.55 42.87 13.36 18.15 9.79 21.67 21.98 14.23 3.99 11.27 11.16 8.51 2.96 2.38 49.75 34.82 40.52 18.80 27.47 23.10 19.53 25.42 16.08 27.73 21.05 32.22 9.25 21.58 18.93 10.27 19.55 15.68 18.48 23.17 20.71 19.42 19.81 21.00 25.04 15.47 23.31 9.04 9.30 18.00 26.96 23.60 18.67 19.89 22.34 15.78 19.39 13.48 25.54 25.33 13.82 18.69 21.30 13.74 23.13 16.11 21.46 23.68 11.41 23.58 14.75 14.55 22.43 12.99 15.73 20.95 17.86 19.70 17.01 24.21 37.40 16.35 21.88 26.76 18.41 18.61 25.68 32.13 23.16 22.62 32.85 19.98 14.27 19.94 13.17 21.77 18.68 26.69 16.55 15.10 21.35 17.43 27.94 34.96 24.04 32.06 13.16 15.73 17.78 11.58 11.15 19.18 21.92 11.65 24.03 20.71 22.09 21.52 34.47 14.17 (12.06) (1.44) 1.06 (11.03) 6.30 (5.53) 0.15 (18.56) 25.21 (6.21) 5.81 18.64 (0.19) 7.44 3.71 (10.45) 2.29 (2.59) (4.75) (1.67) (4.71) 8.85 (6.37) 13.35 51.78 8.98 (6.13) (9.54) (3.62) 1.18 (10.09) 9.64 (2.99) 10.40 (7.72) (3.70) 3.28 1.22 (2.93) 12.21 (3.53) 6.23 (5.75) 9.28 31.33 (0.34) 11.05 0.11 -0.83 0.01 0.00 -0.06 -0.07 -0.02 0.74 -0.09 6.56 -0.78 0.34 0.24 0.04 0.16 0.39 -0.07 0.04 -0.27 0.04 -0.94 -0.03 0.25 -0.21 0.45 0.10 0.57 -0.01 -0.07 0.00 -0.02 -0.16 0.58 -0.10 0.24 -0.02 0.03 0.09 -0.07 -0.02 -0.01 0.01 0.01 -0.08 -0.01 1.06 0.10 0.66 -0.10 -0.72 0.00 -0.01 -0.03 -0.15 -0.03 0.91 -0.08 5.42 -0.64 0.04 0.11 0.06 0.22 0.38 -0.08 -0.02 -0.56 0.07 -0.96 0.01 0.38 -0.20 0.23 0.03 0.73 -0.03 -0.04 0.08 -0.13 -0.16 0.62 -0.08 0.30 -0.01 0.14 0.13 -0.06 0.00 -0.03 -0.04 0.00 -0.09 0.00 0.51 0.35 0.80 0.214 (0.113) 0.010 0.010 (0.032) 0.087 0.011 (0.174) (0.010) 1.136 (0.141) 0.301 0.129 (0.020) (0.053) 0.009 0.006 0.060 0.294 (0.032) 0.023 (0.042) (0.132) (0.010) 0.222 0.062 (0.164) 0.012 (0.031) (0.080) 0.114 0.003 (0.033) (0.023) (0.069) (0.010) (0.110) (0.039) (0.013) (0.021) 0.027 0.048 0.014 0.002 (0.005) 0.551 (0.244) (0.140) BUY SELL SELL BUY SELL BUY SELL BUY SELL BUY SELL BUY BUY SELL BUY BUY SELL BUY SELL SELL SELL SELL BUY SELL BUY BUY BUY SELL SELL SELL BUY SELL BUY SELL BUY SELL SELL BUY BUY SELL BUY SELL BUY SELL BUY BUY SELL BUY BUY SELL BUY BUY SELL BUY BUY SELL SELL BUY SELL BUY BUY SELL SELL BUY BUY BUY BUY SELL BUY SELL SELL SELL BUY BUY SELL BUY SELL SELL BUY BUY SELL SELL SELL SELL SELL SELL SELL SELL BUY BUY BUY BUY SELL BUY SELL SELL SELL BUY SELL BUY SELL SELL BUY - BUY SELL BUY - 32.97 15.40 21.66 20.59 14.39 22.38 22.20 21.19 13.66 34.46 15.37 24.74 28.90 19.35 23.11 22.20 12.72 23.00 16.83 15.07 19.33 20.33 24.32 16.94 22.39 61.09 26.98 20.83 14.07 15.05 21.07 12.25 25.42 16.39 23.88 17.82 21.63 17.10 19.91 18.37 25.94 19.60 22.34 15.71 32.96 42.74 23.25 25.79 The table above consists of the 45 HKSE Hang Seng Index component stocks, sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
30. 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(%) Stock Name Close Target Price % upside HSBC CH MOBILE CCONB ICBC CNOOC CH LIFE BOC SHK PROP PETRO CH TENCENT HKSE CK HUTCHISON PING AN SINOPEC CORP CH SHENHUA CLP LI & FUNG BOC HK HS BANK HK&CH GAS SWIRE HL PROP WHARF CH OV LAND POWER ASSETS BELLE HENDERSON BOCOMM CH COAL CH UNICOM BK EASIA ESPRIT MTR SINO LAND CH RES NEW WORLD CH RES LAND CH MERCHANT CH RES POWER ALCORP CATHAY CITIC COSCO FIH MOBILE LTD GENHK AIA SANDS CHINA LTD GALAXY 64.45 63.03 -2% 82.85 105.99 22% 6.30 7.62 17% 5.07 6.06 16% 0.8 0.8 8.97 11.25 20% 0.6 0.8 23.65 28.29 16% 0.9 1.1 23.0 18.8 3.75 4.47 16% 0.6 0.6 5.8 5.4 117.40 129.22 9% 8.8 9.6 13.3 12.2 5.45 6.78 20% 0.2 0.4 20.5 248.40 261.16 5% 6.2 7.9 35.7 52week Price % Chg 2017 2018 2017 2018 2017 2018 High Low YTD 0.6 0.6 14.0 12.8 0.8 0.8 69.10 44.50 3.53 5.6 6.1 13.0 12.1 3.1 3.4 99.30 80.30 0.79 0.9 1.0 5.9 5.6 4.5 4.7 6.55 4.50 5.53 5.7 5.5 4.6 4.9 5.27 3.82 9.03 13.8 10.4 3.6 3.9 10.88 8.70 -7.53 1.3 1.5 25.50 16.00 17.08 4.7 5.0 4.08 2.90 9.01 3.4 3.5 123.30 85.40 19.80 12.4 2.0 3.1 6.38 4.92 -5.71 27.8 0.3 0.4 248.40 152.20 30.94 191.60 197.45 3% 5.7 6.3 33.8 30.4 2.7 2.9 213.20 175.00 4.59 97.75 114.40 15% 9.3 10.1 10.6 9.7 2.9 3.2 103.90 80.60 11.21 43.70 55.80 22% 3.7 4.1 10.4 9.4 1.6 1.8 44.95 32.50 12.63 6.24 7.34 15% 0.5 0.5 12.2 11.1 4.0 4.5 6.57 4.96 13.45 18.20 19.31 6% 1.6 1.5 10.1 10.7 3.2 3.3 19.78 11.40 24.66 81.75 79.90 -2% 5.0 5.2 16.2 15.9 3.5 3.6 84.35 69.65 14.74 3.27 3.16 -3% 0.0 0.0 15.0 13.6 0.8 0.8 4.84 3.18 -4.11 32.20 35.71 10% 2.7 2.9 12.0 11.2 4.2 4.4 32.55 21.01 16.04 158.10 154.53 -2% 9.2 10.1 17.1 15.7 4.0 4.2 164.40 127.60 9.56 15.50 12.78 -21% 0.6 0.6 26.0 25.0 2.4 2.6 15.92 12.95 12.81 74.80 77.17 3% 5.0 5.2 15.1 14.3 3.6 3.9 94.40 72.20 1.01 19.74 20.19 2% 1.2 1.1 16.4 18.2 3.8 3.8 21.00 13.64 20.07 66.75 66.22 -1% 4.7 4.8 14.3 13.8 3.3 3.5 69.95 40.05 29.49 22.45 28.55 21% 3.2 3.6 7.1 6.3 3.7 4.2 27.85 20.15 9.25 70.05 73.83 5% 3.5 3.6 20.3 19.5 4.0 4.1 72.92 62.78 9.62 6.07 5.22 -16% 0.4 0.4 13.2 13.3 4.1 4.0 6.15 4.07 39.22 49.25 50.20 2% 3.3 3.2 14.9 15.2 3.2 3.2 50.20 39.64 19.39 5.93 5.99 1% 0.9 0.9 5.9 5.7 4.6 4.8 6.44 4.46 5.70 3.73 4.71 21% 0.3 0.3 10.2 10.9 2.6 2.2 4.88 2.92 1.36 10.06 12.49 19% 0.2 0.4 42.1 21.8 0.7 1.4 11.20 7.70 11.41 32.20 25.91 -24% 2.2 1.8 14.4 17.9 2.9 2.5 34.75 26.35 8.42 6.00 5.89 -2% 0.0 0.2 206.9 37.3 0.0 1.2 7.62 5.34 -1.48 45.00 39.91 -13% 1.6 1.6 28.4 27.5 7.3 2.5 45.00 35.55 19.36 13.10 13.84 5% 0.8 0.8 15.5 15.7 3.9 3.9 14.48 10.96 12.74 18.68 19.03 2% 0.6 0.7 29.3 25.2 1.0 1.2 19.60 14.46 21.30 9.58 11.17 14% 0.8 0.8 12.3 11.7 4.6 4.6 10.46 6.91 16.83 21.25 28.25 25% 2.8 3.2 7.7 6.6 3.7 4.3 23.85 16.50 21.85 22.30 24.73 10% 1.6 1.7 13.7 13.4 3.4 3.6 23.80 18.80 15.90 13.92 15.14 8% 1.3 1.5 10.3 9.2 6.0 6.1 15.10 10.70 12.99 19.06 3.81 4.65 18% 0.2 0.2 17.6 14.1 0.3 0.6 4.45 2.25 11.16 9.90 -13% -0.2 0.2 N/A 55.0 0.5 0.7 13.08 10.00 9.41 11.24 12.35 9% 1.6 1.7 7.2 6.7 3.0 3.8 12.78 10.54 1.26 8.63 9.09 5% 0.1 0.1 14.0 13.0 0.4 0.4 8.87 7.28 10.78 2.67 3.08 13% 0.0 0.0 49.0 13.7 0.5 0.6 3.34 2.31 8.98 2.36 2.45 4% 0.0 0.0 N/A N/A 0.0 0.0 2.80 2.00 4.42 54.75 59.63 8% 0.4 0.4 19.1 17.0 0.2 0.3 55.00 42.30 25.14 35.30 38.27 8% 0.2 0.2 23.9 21.3 0.7 0.7 39.30 24.60 4.75 43.30 44.72 3% 1.7 1.9 25.2 23.1 1.1 1.3 44.45 21.73 28.91 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
31. T e c h n i c a l TA Securities V i e w Wednesday , May 03, 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: 3,211.11 (+35.67, +1.12%) Singapore THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* Chartist: Stephen Soo Stock Name FSSTI SINGTEL DBS OCBC UOB JARDINE M. WILMAR HK LAND CAPLAND GENSP KEPPEL SGX SIA FNN NOBLE CITY DEV JARDINE S. SG PRESS JARDINE C&C GOLDEN AGRI SG TECH OLAM INT CAP TRUST SEMBCORP SEMCORP M. CMFT DELGRO STARHUB SIA ENG IFOOD AGRI YZJ Tel: +603-2167 9607 Close Bollinger Bands RSI Change High Low 2-May Lower Mid Upper 14d 3,211.11 35.67 3,212.27 3,183.41 3,123.88 3,166.34 3,208.81 66.70 3.73 19.86 9.98 22.80 65.17 3.55 7.70 3.69 1.13 6.50 7.41 10.35 2.38 0.13 10.89 41.95 3.38 48.02 0.37 3.82 1.89 1.97 3.01 1.65 2.77 2.77 3.80 0.49 1.18 (0.01) 0.51 0.18 1.00 0.64 0.00 (0.01) (0.07) 0.01 (0.01) 0.01 0.10 0.00 (0.01) 0.10 (0.32) (0.09) 0.79 0.01 0.03 (0.03) 0.00 (0.02) 0.02 0.03 (0.02) 0.06 0.00 0.03 3.74 19.90 10.02 22.80 65.39 3.57 7.74 3.72 1.14 6.54 7.46 10.36 2.38 0.14 10.93 42.39 3.42 48.20 0.37 3.82 1.91 1.97 3.06 1.66 2.80 2.81 3.82 0.50 1.19 3.71 19.45 9.88 22.04 64.33 3.52 7.65 3.67 1.12 6.48 7.40 10.32 2.35 0.13 10.82 41.85 3.38 47.35 0.36 3.76 1.88 1.95 2.97 1.63 2.75 2.77 3.75 0.49 1.16 3.65 18.66 9.48 21.35 63.81 3.44 7.57 3.60 1.01 6.40 7.32 10.09 2.29 0.13 9.92 40.99 3.33 43.74 0.34 3.61 1.87 1.95 3.01 1.63 2.55 2.74 3.63 0.45 1.07 3.80 19.14 9.68 21.89 65.21 3.52 7.70 3.68 1.07 6.74 7.54 10.22 2.34 0.17 10.37 41.80 3.47 46.15 0.36 3.73 1.92 1.99 3.11 1.79 2.66 2.83 3.69 0.49 1.14 3.96 19.62 9.88 22.44 66.62 3.59 7.83 3.76 1.14 7.07 7.76 10.35 2.38 0.21 10.82 42.61 3.61 48.57 0.39 3.86 1.97 2.02 3.21 1.95 2.77 2.92 3.75 0.53 1.20 33.84 68.58 71.04 69.63 50.83 51.62 57.21 52.82 67.89 35.95 38.54 62.62 68.68 15.07 71.85 54.19 37.37 64.71 49.57 63.14 39.74 44.75 33.01 29.43 72.34 39.39 71.45 47.51 61.67 stsoo@ta.com.my Moving Averages 10d 30d 50d DI + 3,158.12 3,161.89 3,148.43 29.49 DI 19.01 ADX 13.57 Diff 10.48 MACD Line Signal Diff 8.67 5.71 2.964 DMI MACD DMI MACD Recent Signal Signal Change BUY BUY - 3.74 19.13 9.69 21.83 64.81 3.52 7.68 3.68 1.09 6.58 7.45 10.23 2.35 0.15 10.45 41.92 3.42 46.85 0.35 3.79 1.90 1.99 3.07 1.72 2.71 2.79 3.70 0.47 1.12 26.66 16.75 14.68 21.57 16.68 16.66 11.18 13.21 13.95 33.89 19.97 15.68 11.37 48.25 13.32 14.42 33.09 15.59 22.91 14.02 28.86 26.98 35.03 41.98 9.33 21.45 10.80 21.93 17.24 34.47 13.28 14.28 16.56 18.00 18.89 43.59 16.94 29.07 20.96 14.01 10.04 47.21 47.57 27.93 31.68 21.23 25.13 24.89 18.83 25.71 20.04 26.78 27.87 31.34 14.87 22.13 26.51 27.48 (18.63) 20.57 16.38 17.12 (3.37) (2.06) 15.64 6.78 16.79 (14.54) (4.69) (0.84) 23.76 (41.87) 22.04 11.09 (12.85) 13.42 (0.27) 6.86 (13.90) (9.58) (24.08) (23.87) 22.24 (3.15) 27.93 (1.90) 8.51 -0.05 0.11 0.05 0.08 -0.10 -0.01 0.10 0.02 0.03 -0.08 -0.05 0.06 0.04 -0.02 0.17 0.42 -0.03 0.91 -0.01 0.04 -0.01 0.00 -0.03 -0.04 0.05 -0.02 0.02 -0.01 0.01 SELL BUY BUY BUY SELL SELL BUY BUY BUY SELL SELL SELL BUY SELL BUY BUY SELL BUY SELL BUY SELL SELL SELL SELL BUY SELL BUY SELL BUY 3.84 19.09 9.66 21.87 65.42 3.53 7.59 3.68 1.05 6.77 7.57 10.17 2.31 0.18 10.34 41.59 3.50 45.63 0.37 3.72 1.91 1.98 3.13 1.82 2.62 2.85 3.69 0.50 1.13 3.89 19.03 9.62 21.75 65.09 3.58 7.33 3.66 1.03 6.81 7.56 10.07 2.23 0.19 10.10 40.55 3.50 44.67 0.38 3.70 1.95 1.96 3.17 1.83 2.57 2.85 3.69 0.51 1.10 8.03 37.32 31.06 38.69 13.32 14.61 26.83 19.99 30.73 19.35 15.29 14.84 35.14 6.37 35.36 25.50 20.24 29.01 22.63 20.88 14.96 17.39 10.95 18.11 31.57 18.30 38.72 20.04 25.75 DMI www.taonline.com.my -0.04 0.04 0.03 0.04 -0.03 -0.02 0.12 0.01 0.02 -0.05 -0.03 0.05 0.04 -0.01 0.12 0.47 -0.02 0.74 -0.01 0.04 -0.01 0.01 -0.03 -0.03 0.04 -0.02 0.01 -0.01 0.01 (0.002) 0.064 0.028 0.039 (0.076) 0.012 (0.027) 0.004 0.003 (0.033) (0.016) 0.007 (0.002) (0.003) 0.050 (0.050) (0.002) 0.173 0.002 0.004 0.000 (0.005) (0.008) (0.019) 0.008 (0.006) 0.010 0.002 0.002 SELL BUY BUY BUY SELL BUY SELL BUY BUY SELL SELL BUY SELL SELL BUY SELL SELL BUY BUY BUY BUY SELL SELL SELL BUY SELL BUY BUY BUY BUY - BUY SELL BUY The table above consists of the revamped 30 SGX FTSE Straits Times Index component stocks, sorted by market capitalization in descending order, with some popular technical indicators. Some other popularly traded stocks are included at the bottom section. The technical BUY/SELL signals on the last four columns are auto generated; the first two being existing or recent signals while the last two represent a signal change from BUY to SELL or the reverse, otherwise no change is indicated by a dash. Stock names and technical statistics in bold highlight stocks that have changes in BUY/SELL signals on the DMI and MACD on the given date. Page 1 of 2
32. 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(%) 52week Price % Chg 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 3.73 4.21 19.86 9.98 22.80 21.94 -4% 2.0 2.1 11.7 10.9 3.2 3.3 22.80 17.41 11.76 65.17 64.13 -0.02 4.1 4.4 15.9 14.8 2.4 2.5 67.27 52.42 17.95 3.55 3.84 8% 0.2 0.2 12.9 12.1 2.0 2.1 4.00 2.96 -1.11 7.70 7.54 -2% 0.4 0.4 19.5 18.9 2.5 2.6 7.88 5.79 21.64 3.69 4.13 11% 0.2 0.2 17.3 18.1 2.8 2.8 3.79 2.85 22.19 1.13 1.06 -6% 0.0 0.0 32.1 29.6 2.6 2.7 1.14 0.69 24.31 6.50 7.06 8% 0.5 0.5 13.5 12.2 3.3 3.6 7.23 5.10 12.26 7.41 7.95 7% 0.3 0.4 22.7 20.9 3.9 4.2 7.84 6.96 3.49 10.35 9.89 -5% 0.4 0.4 23.4 24.1 3.4 2.6 11.67 9.60 7.03 2.38 2.19 -9% 0.1 0.1 30.9 31.3 1.8 1.8 2.41 1.92 13.88 YZJSGD SP YZJ % upside 2017 2018 2017 2018 2017 2018 High Low YTD 11% 0.2 0.3 15.4 14.6 4.8 5.0 4.36 3.59 2.19 19.71 -1% 1.793 1.964 11.1 10.1 3.1 3.2 19.90 14.63 14.53 9.53 -5% 0.9 0.9 11.6 10.6 3.7 3.9 10.02 8.21 11.88 0.13 0.22 0.41 0.0 0.0 6.2 4.4 0.8 0.8 0.35 0.11 -24.12 10.89 10.92 0% 0.6 0.7 17.1 15.8 1.4 1.4 10.93 7.83 32.02 41.95 41.42 -1% 2.8 3.0 15.2 14.2 0.8 0.8 43.78 27.35 26.36 3.38 3.28 -3% 0.1 0.2 22.7 22.4 5.0 4.9 4.05 3.36 -4.25 48.02 50.63 5% 2.2 2.5 15.5 14.1 1.8 2.0 48.50 31.60 16.47 0.37 0.38 3% 0.0 0.0 16.4 14.5 1.9 2.2 0.45 0.33 -15.12 3.82 3.68 -4% 0.2 0.2 22.1 21.0 4.0 4.2 3.82 3.01 18.27 1.89 1.99 6% 0.1 0.1 14.0 13.5 2.5 2.6 2.17 1.58 -4.31 1.97 2.12 7% 0.1 0.1 17.3 16.7 5.6 5.6 2.25 1.87 4.51 3.01 3.55 15% 0.2 0.3 12.8 10.6 3.1 3.4 3.38 2.44 5.61 1.65 1.68 2% 0.0 0.1 35.1 25.8 1.5 1.8 2.09 1.22 19.57 2.77 2.93 6% 0.2 0.2 17.8 17.0 4.0 4.3 3.02 2.37 12.15 2.77 2.60 -7% 0.2 0.2 17.1 18.1 5.8 5.7 3.97 2.73 -1.42 3.80 3.55 -7% 0.2 0.2 24.7 24.5 4.0 3.9 3.91 3.35 12.76 0.49 0.59 17% 451 500 10.4 9.4 15111 16908 0.60 0.44 -6.67 1.18 1.14 -3% 0.5 0.5 12.0 12.4 16.8 16.8 1.19 0.71 44.79 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