Malaysia: Daily Market Commentary - 11 April

Transcription

1. Daily Note Daily Market Commentary (A Participating Organisation of Bursa Malaysia Securities Bhd) Menara TA One, 22 Jalan P Ramlee, 50250 Kuala Lumpur Tel : 603 - 2072 1277. Fax : 603 - 2032 5048 Tuesday, 11 April 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only Review & Outlook KLSE Market Statistics (10.04.2017) Volume (mil) +/-chg (RMmn) Main Market 2,043.3 -1223.4 1,905.3 Warrants 129.9 -118.8 15.1 ACE Market 1,473.0 -224.6 182.6 Bond 14.9 6.4 1.6 ETF 0.0 0.03 0.1 Total 3,661.1 2,104.7 Off Market 165.9 82.3 610.2 Value +/-chg -1186.4 -20.5 -73.7 0.1 0.05 455.8 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP April Futures Other Markets DOW JONES NASDAQ (US) FTSE (UK) NIKKEI (JAPAN) KOSPI (KOREA) HANG SENG (HK) FSSTI (S'PORE) SET (BANGKOK) JCI (JAKARTA) SHANGHAI SHENZHEN AUSTRALIA DNEX CHINHIN SEG INARI BPURI LAFMSIA TNLOGIS Up Down 321 345 43 69 61 50 4 2 1 2 430 468 % chg % YTD chg 1,739.52 12,416.27 17,550.41 1,742.00 -2.20 2.91 43.39 -5.00 -0.13 0.02 0.25 -0.29 5.96 8.28 19.26 6.51 20,658.02 5,880.93 7,348.94 18,797.88 2,133.32 24,262.18 3,181.45 1,581.19 5,644.30 3,269.39 2,008.50 5,912.88 1.92 3.11 -0.43 133.25 -18.41 -5.12 4.18 -2.34 -9.19 -17.22 -19.83 50.42 0.01 0.05 -0.01 0.71 -0.86 -0.02 0.13 -0.15 -0.16 -0.52 -0.98 0.86 4.53 9.25 2.89 -1.66 5.27 10.28 10.44 2.48 6.56 5.34 2.00 4.36 Top 10 KLCI Movers Based on Mkt Cap. Off Market (mn) 130.0 10.0 8.4 8.0 5.8 1.0 1.0 Value/ Volume 0.93 0.12 0.12 0.11 1.32 0.57 3.68 @ @ @ @ @ @ @ (RM) 4.30 1.34 1.05 2.00 0.50 6.60 1.75 Exchange Rate USD/MYR 4.4360 0.0015 USD/JPY 111.25 0.5900 EUR/USD 1.058 -0.0051 Counter Mkt Cap. (RM’mn) MAYBANK 91,532 PBBANK 77,153 PCHEM 61,840 MAXIS 47,616 PETGAS 38,941 GENTING 34,536 MISC 32,586 GENM 31,120 IOICORP 28,862 HLBANK 28,033 Chg Vol. (RM) (mn) -0.01 8.02 -0.02 0.67 -0.05 3.71 -0.06 3.17 -0.02 2.32 -0.13 2.61 -0.01 1.51 -0.01 10.97 -0.04 3.24 -0.06 0.23 Commodities Futures Palm Oil (RM/mt) 4.44-2585.56 Crude Oil ($/Barrel) 111.25 58.96 Gold ($/tr.oz.) 1.06-1255.04 Important Dates JK GLAND - 2:1 Rights Issue - RI of up to 1,516.6m shares. JKGLAND 2 rights shares for every 1 existing share held, at an issue price of RM0.10 per rights share. Application Closed: 10/04/2017. LISTING ON: 21/04/2017. Bursa Malaysia shares slid lower on cautious trade Monday, in line with weaker regional markets as increased geopolitical tensions kept investors on the tenterhooks. The KLCI fell 2.2 points to close at 1,739.52, off an early high of 1,741.68 and low of 1,736.72, as losers beat gainers 468 to 430 on total turnover of 3.66bn shares worth RM2.1bn. Stocks are likely to remain range bound given the rising geopolitical concern abroad, as well as lack of positive catalysts locally. As for the index, immediate support is coming from 1,734 and 1,719, the rising 30 and 50day moving averages, with the 1,700 psychological level acting as stronger support. Immediate overhead resistance is at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing closely matching last week's high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. Bearish technical momentum could force AFG shares down to re-test the lower Bollinger band (RM3.99) before attracting buyers again, while a rebound would meet initial resistance at the upper band (RM4.18) and the peak of 13/04/16 (RM4.37). Better support is at the 100-day da ma (RM3.84). MBSB shares could sell-off below the lower Bollinger band (RM1.16) before buying returns, while a recovery would encounter resistance from the 61.8%FR (RM1.33) and 76.4%FR (RM1.48). Stronger support is capped at the 100-day ma (RM1.06). News Bites • • • • • • • • • • • • • Mudajaya Group Berhad settlement with GE Power Services (Malaysia) Sdn Bhd and Alstom Power Systems in respect of outstanding claims relating to the construction of a coal fired power plant provide it with cash of RM60.0mn. Prasarana Malaysia Bhd will be raising up to RM6bn additional debt in a few weeks to fund its ongoing projects. Perak Corporation Berhad's subsidiary, Lumut Maritime Terminal Sdn Bhd, is acquiring three lots of industrial land and one lot of commercial land in Manjung from Perbadanan Kemajuan Negeri Perak for RM57.0mn. Eco World International Berhad announced the proposed acquisition of an 80% stake in Salcon Australia for AUD120k and it will also be required to repay a sum equivalent to 80% of total advances owed by the latter to Salcon Development. Rohas Tecnic Berhad announced the proposed acquisition of a 75% stake in HG Power Transmission Sdn Bhd for RM101.7mn. Advancecon Holdings Bhd has signed an underwriting agreement with RHB Investment Bank Bhd for the latter to be its principal adviser, underwriter and placement agent for the company's proposed IPO exercise. Malaysia Airports Holdings Berhad's total network of airports registered a 9.1% YoY growth for March 2017 with 10.5mn passenger traffic. YGL Convergence Berhad has proposed a private placement of up to 20% of its total number of issued shares, which is expected to raise RM6.2mn, to embark on potential acquisitions and marketing activities. LPI Capital Bhd reported a 7.9% YoY increase in its 1QFY17 net profit to RM70.6mn. Datuk Seri Syed Ali Bin Tan Sri Abbas Alhabshee has resigned from his role as Chairman of Bright Packaging Industry Berhad due to his numerous and unavoidable commitments. Petronas has pitched an estimated US$1bn stake in a prized upstream local gas project to potential bidders including Royal Dutch Shell, ExxonMobil Corp, Thailand's PTT Exploration and Production and Japanese firms, sources familiar with the matter said. Bank of Japan Governor Haruhiko Kuroda reiterated the central bank's resolve to maintain its massive monetary stimulus until inflation is stably above its 2% target. The U.S. Federal Reserve could begin winding down its massive balance sheet sometime later this year in a shift that would make it less necessary to raise the official funds rate, a central banker said on Monday. DISCLAIMER The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD Kaladher Govindan, Head of Research
2. Technical Comments : Buy on Weakness AFG & MBSB Bearish technical momentum could force AFG shares down to re-test the lower Bollinger band (RM3.99) before attracting buyers again, while a rebound would meet initial resistance at the upper band (RM4.18) and the peak of 13/04/16 (RM4.37). Better support is at the 100-day da ma (RM3.84). MBSB shares could sell-off below the lower Bollinger band (RM1.16) before buying returns, while a recovery would encounter resistance from the 61.8%FR (RM1.33) and 76.4%FR (RM1.48). Stronger support is capped at the 100-day ma (RM1.06). AFG Upper Middle RM4.03 (UNCH) BOLLINGER BANDS RM RM 4.18 4.08 10-day 30-day RM 3.99 50-day Lower DMI Recent Signal SELL 3.98 Recent Signal SELL Signal Change MBSB Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 4.10 RM 4.05 BOLLINGER BANDS RM RM RM DMI RM1.22 (UNCH) 1.32 1.24 1.16 BUY SIMPLE MOVING AVERAGES RM 1.27 RM 1.21 RM 1.18 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 4