Malaysia: Daily Market Commentary - 11 July

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 July 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (10.07.2017) (mil) Main Market 1,098.0 Warrants 117.9 ACE Market 416.2 Bond 34.9 ETF 0.0 Total 1,667.1 Off Market 41.0 Volume +/-chg (RMmn) 195.0 1,414.2 3.5 14.7 155.7 78.5 5.0 7.6 0.00 0.0 1,515.1 -17.5 21.0 Value +/-chg -52.3 2.1 18.2 0.1 0.00 -172.4 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP July 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 1,757.13 12,520.93 17,327.49 1,762.00 21,408.52 6,176.39 7,370.03 20,080.98 2,382.10 25,500.06 3,246.35 1,569.44 5,771.51 3,212.63 1,905.37 5,724.44 Off Market APPASIA SMRT-WA VERSATL MASTEEL BJASSET MEDAINC (mn) 12.7 11.2 5.0 4.9 1.5 1.4 @ @ @ @ @ @ (RM) 0.25 0.01 0.95 0.96 1.30 0.31 Exchange Rate USD/MYR 4.2954 -0.0029 USD/JPY 114.22 0.5200 EUR/USD 1.139 -0.0020 -2.80 -29.84 -50.64 3.00 Value/ Volume 1.29 0.13 0.19 0.22 1.11 0.91 0.51 Up Down 216 412 26 91 51 46 0 6 1 1 294 556 % chg % YTD chg -0.16 -0.24 -0.29 0.17 7.03 9.20 17.75 7.73 -5.82 -0.03 23.31 0.38 19.11 0.26 151.89 0.76 2.23 0.09 159.21 0.63 17.34 0.54 0.00 0.00 -43.29 -0.74 -5.32 -0.17 -12.76 -0.67 20.87 0.37 Top 10 KLCI Movers Mkt Cap. Counter Mkt Cap. (RM’mn) MAYBANK 101,342 IHH 59,110 CIMB 55,120 MAXIS 42,088 DIGI 38,720 GENTING 34,219 GENM 31,800 TM 24,389 PETDAG 23,724 HAPSENG 22,407 8.33 14.74 3.18 5.06 17.55 15.91 12.69 1.72 8.96 3.51 -3.24 1.03 Based on Chg Vol. (RM) (mn) -0.01 7.95 -0.02 12.32 -0.20 5.31 -0.01 5.43 -0.02 4.12 -0.16 3.60 -0.05 4.24 -0.07 2.27 -0.04 0.12 -0.09 0.23 Commodities Futures Palm Oil (RM/mt) 2,566.00 37.00 Crude Oil ($/Barrel) 44.55 0.22 Gold ($/tr.oz.) 1,213.70 1.80 Important Dates TDM - 1:10 Bonus Issue - BI of 150.5m shares. 1 bonus share for every 10 existing shares. Entitlement Date: 03/07/2017. LISTING ON: 04/07/2017. SCC - 1:10 Bonus Issue - BI of 4.3m shares. 1 bonus share for every 10 existing shares. Ex-Date: 06/07/2017. Entitlement Date: 10/07/2017. LISTING ON: 11/07/2017. Review & Outlook The local benchmark index hovered near three-month lows on Monday, as profit-taking interest amid weak technical momentum overshadowed regional strength helped by robust US jobs numbers and tame June inflation data from China. The KLCI fell 2.8 points to settle at 1,757.13, after ranging between early high of 1,760.44 and low of 1,754.57, as losers beat gainers 556 to 294 on moderate turnover of 1.66bn shares worth RM1.51bn. Further correction is needed for the index to lessen current bearish momentum, before an oversold recovery can follow. Immediate support remains at the 100-day moving average at 1,751, with stronger support at 1,729, a key support level in April, while crucial uptrend support is from the 200-day moving average at 1,703. Immediate resistance for the index stays at the 50-day moving average (1,773), next 1,782, followed by the recent peak of 1,796, and then the 1,800 psychological level. Bearish technical momentum on DiGi.com shares point to profit-taking correction potential towards the 61.8%FR (RM4.85), with stronger retracement supports seen from the 50%FR (RM4.75) and 38.2%FR (RM4.65), while strong overhead resistance is from the 30/3/17 high (RM5.19). Likewise, TM should slip into profit-taking correction mode, with better retracement supports from the 50%FR (RM6.36) and 38.2%FR (RM6.23), and key overhead hurdle from the 30/8/16 peak (RM6.90). • • • • • • • • • • • • • • • • • • News Bites The growth in palm oil stockpiles narrowed by 1.9% MoM to 1.53mn tonnes in June 2017 as MPOB's monthly production declined 8.5% MoM and 1.2% YoY to 1.51mn tonnes, which was below expectations of 1.62 - 1.64mn tonnes. Three companies have filed claims amounting to QAR181.6mn (RM214.1mn) from WCT Holdings Bhd over payment for a government project in Doha, Qatar where it was the main contractor. Genting Bhd's subsidiary Genting Oil Kasuri Pte Ltd has reportedly been asked by Indonesia's upstream regulatory body SKKMigas to revise its development plan for the Kasuri Block in West Papua. Malaysia Airports Holdings Bhd's network of airports, including Istanbul Sabiha Gokcen International Airport, recorded 10.2mn passengers in June 2017, an 11.9% YoY growth over the same month of 2016. Gadang Holdings Bhd has proposed to sell off its entire stake in indirect wholly-owned plantation unit, Desiran Impian Sdn Bhd, for RM15.0mn. Enra Group Bhd's 60%-owned subsidiary, ENRA SPM Sdn Bhd has bagged a USD48mn contract from PC Myanmar (Hong Kong) Ltd, a subsidiary of PETRONAS, for the lease of a single point mooring system and storage tanker. Advancecon Holdings Bhd has bagged a RM30.1mn contract from LM Partners Sdn Bhd for civil works at the proposed Pan Borneo Highway in Sarawak. Halex Holdings Bhd has proposed to acquire a 334-square-metre freehold land with a six-storey shop office in Klang for RM6.9mn. Perisai Petroleum Teknologi Bhd has obtained extension of time of up to 31 July 2017 to submit a draft circular, in relation to the proposed settlement agreement between the company and EOC Ltd (now known as Emas Offshore Ltd), to Bursa Malaysia Securities Bhd. Versatile Creative Bhd's due diligence for the development of mediumcost apartments, with a gross development value of RM110.0mn in Johor Bahru has been put on hold to relook into the land conversion cost payment proposal. LPI Capital Bhd's 2QFY17 revenue grew by 4.0% YoY to RM352.7mn but PBT declined by 61.6% YoY to RM89.2mn mainly due to the nonrecurring realised gains of RM150.4mn on disposal of investment in quoted equities in 2QFY16. Samling Group founder Tan Sri Dr Yaw Teck Seng has emerged as the second largest shareholder of Barakah Offshore Petroleum Bhd, having acquired a further 5.9% stake through United Power Group Holdings Ltd. The independent adviser of KUB Malaysia Bhd has advised shareholders to reject the takeover offer of RM0.35 per share from Anchorscape Sdn Bhd. The independent adviser of Wang-Zheng Bhd has advised minority shareholders to reject the takeover offer of RM1.14 per share from Hong Kong-listed Hengan International Group Co Ltd. 7-Eleven Malaysia Holdings Bhd's chief executive officer Gary Thomas Brown has stepped down from his role in the group, citing "personal reasons". Destini Bhd group managing director Datuk Rozabil @ Rozamujib Abdul Rahman and Caprice Capital International Ltd chief executive Datuk Paul Poh Yang Hong have been appointed non-executive directors of Iris Corp Bhd. According to Dun & Bradstreet's Malaysia's Business Optimism Index study, the overall index inched up slightly from 3.07 percentage points in the second quarter to 3.40 percentage points in 3Q17. China's Consumer Price Index rose 1.5% YoY in June while the Producer Price Index rose 5.5%, according to the National Bureau of Statistics. 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 : Take Profit DiGi.com & TM Bearish technical momentum on DiGi.com shares point to profit-taking correction potential towards the 61.8%FR (RM4.85), with stronger retracement supports seen from the 50%FR (RM4.75) and 38.2%FR (RM4.65), while strong overhead resistance is from the 30/3/17 high (RM5.19). Likewise, TM should slip into profit-taking correction mode, with better retracement supports from the 50%FR (RM6.36) and 38.2%FR (RM6.23), and key overhead hurdle from the 30/8/16 peak (RM6.90). DIGI Upper Middle RM4.98 (-0.02) BOLLINGER BANDS RM RM 5.03 4.99 10-day 30-day RM 4.95 50-day Lower DMI Recent Signal SELL 5.02 Recent Signal BUY Signal Change TM Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 5.00 RM 4.99 BOLLINGER BANDS RM RM RM DMI RM6.49 (-0.07) 6.69 6.59 6.50 SELL SIMPLE MOVING AVERAGES RM 6.60 RM 6.56 RM 6.52 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 4