Malaysia: Daily Market Commentary - 19 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 Wednesday, 19 April 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (18.04.2017) Volume (mil) +/-chg (RMmn) Main Market 1,927.2 -165.7 2,307.4 Warrants 159.5 53.2 23.2 ACE Market 699.2 38.3 120.2 Bond 3.0 -22.7 0.9 ETF 0.0 0.02 0.0 Total 2,788.9 2,451.7 Off Market 152.7 25.5 237.5 Value +/-chg 636.2 11.7 24.4 -0.9 0.02 34.8 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 1,740.60 12,401.24 17,322.16 1,734.00 20,523.28 5,849.47 7,147.50 18,418.59 2,148.46 23,924.54 3,137.54 1,574.42 5,606.52 3,196.71 1,946.42 5,836.74 Off Market (mn) SEM 39.0 BJASSET-WA 29.5 PANPAGE 20.6 BIOHLDG 18.8 SIME 9.6 LEESK 7.3 EWEIN 6.0 IJM 5.0 MAXIS 3.1 KAWAN 2.8 ECOFIRS 2.5 SEACERA 1.8 CIMB 1.5 MQTECH-WA 1.0 BJASSET 1.0 GTRONIC 1.0 SCNWOLF 1.0 @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ (RM) 1.55 0.10 0.30 0.24 9.30 0.33 0.84 3.48 6.45 4.30 0.30 0.92 5.21 0.03 1.00 5.10 0.25 6.67 66.64 106.96 6.50 Value/ Volume 1.20 0.15 0.17 0.29 1.42 0.88 1.56 Up Down 395 243 99 45 54 35 3 2 1 2 552 327 % chg % YTD chg 0.38 0.54 0.62 0.38 6.02 8.15 17.71 6.02 -113.64 -0.55 -7.32 -0.12 -180.09 -2.46 63.33 0.35 2.70 0.13 -337.12 -1.39 -0.76 -0.02 -1.49 -0.09 29.03 0.52 -25.45 -0.79 -12.13 -0.62 -53.21 -0.90 Top 10 KLCI Movers Mkt Cap. Counter Mkt Cap. (RM’mn) MAYBANK 92,059 TENAGA 77,550 PCHEM 60,800 CIMB 48,599 MAXIS 48,517 AXIATA 45,677 DIGI 39,964 PETGAS 38,190 GENTING 35,382 GENM 31,517 3.85 8.66 0.07 -3.64 6.02 8.75 8.91 2.04 5.85 3.00 -1.15 3.02 Based on Chg (RM) 0.02 0.02 0.01 0.03 0.03 0.01 0.04 0.02 0.23 0.06 Vol. (mn) 15.44 10.24 10.86 11.13 5.07 3.88 4.98 0.74 6.11 4.58 Review & Outlook Blue chips extended rebound Tuesday as geopolitical tensions eased following North Korea's failed missile test and as investors warmed up to China's strong 1Q GDP growth. The KLCI ended 6.67 points up at 1,740.60, off an early low of 1,735.31 and high of 1,741.51, as gainers led losers 552 to 327 on slower turnover of 2.79bn shares worth RM2.45bn. While further strength on blue chips should persist on local fund support, lower liners and small caps should stay range bound given the weak buying momentum. On the index, while the 50-day moving average support level at 1,725 should hold to prevent a test of next key support of 1,700, overhead resistance at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing which closely match the recent high, will be an important hurdle. Hook-up momentum indicators with a daily stochastics buy signal on Genting Berhad supports rebound upside towards the mid Bollinger band (RM9.51), with a breakout to re-test the 21/3/17 high (RM9.90). Key retracement support from the 23.6%FR (RM9.21) is reinforced by the lower band. Similarly, IOI Corp should stage oversold rebound towards the 61.8%FR (RM4.53), while a breakout should aim for the 76.4%FR (RM4.72) or upper Bollinger band (RM4.81) ahead. Key retracement support at the 50%FR (RM4.37) limited downside risk. • • • • • • • • • • • • • • Important Dates KGR OUP - 2:2 Rights Issue - RI of up to 1,251.2m shares together GROUP with up to 625.6m free detachable warrants. 2 rights shares for every 2 existing shares held, at an issue price of RM0.05 per rights share. Application Closed: 20/04/2017. LISTING ON: 05/05/2017. News Bites Petronas Chemicals Group Berhad has approved the Final Investment Decision for a USD442mn Isononanol plant within Pengerang Integrated Complex in Pengerang Johor. edotco Group Sdn Bhd entered into a share subscription agreement with KWAP for the subscription by KWAP of 136.6mn shares in edotco for USD100mn. Sime Darby Bhd has invited eligible holders of two tranches of its outstanding sukuk amounting to USD800mn to either tender for cash repurchase or novate the debt to Sime Darby Plantation Sdn Bhd. SP Setia Bhd, via its subsidiary S P Setia International (S) Pte Ltd, has been awarded the SGD265m tender for Singapore's Toh Tuck Road site by Singapore's Urban Redevelopment Authority. Vivocom International Holdings Bhd has secured three contract wins with a combined value of RM44.71mn, for the installation of aluminium and glazing works. Tomei Consolidated Bhd has secured a one-year deal to distribute and retail China's Xifu jewellery collections in Malaysia. Yong Tai Bhd said it is considering disposing of its ailing textile and garment business in the near future. AmanahRaya Real Estate Investment Trust aims to acquire "trophy assets" valued between RM350mn and RM370mn in the immediate term, despite the softening property market. Malaysian Pacific Industries Bhd 3QFY17 net profit rose 11% YoY rise to RM43.21mn, due mainly to favourable exchange difference and lower operating costs. It was within ours but above consensus expectations. CapitaLand Malaysia Mall Trust's net property income for 1QFY17 slid 1.5% to RM59.72mn from RM60.60mn a year ago, on lower contribution from its Klang Valley shopping malls. It was within expectations. I-Bhd posted a 21% rise in net profit for 1QFY17 to RM18.59mn from RM15.36mn a year earlier, as contributions from its property development segment improves. Landmarks Bhd is proposing a private placement to raise as much as RM36.93mn to revitalise and grow its business through the injection of fresh equity into the group, with an indicative issue price of 76 sen per placement share. JKG Land Bhd's rights issue has been oversubscribed by 27.1% or 410.99mn shares after it received valid acceptances and excess applications of 1.93bn rights shares. The International Monetary Fund, in its flagship report on the state of the global economy, nudged up its forecast for world growth this year a tenth of a percentage point to 3.5%. Exchange Rate USD/MYR 4.4111 0.0066 USD/JPY 108.82 0.4900 EUR/USD 1.066 0.0033 Commodities Futures Palm Oil (RM/mt) 2,473.00 -22.00 Crude Oil ($/Barrel) 52.35 -0.40 Gold ($/tr.oz.) 1,291.50 5.20 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 Genting Bhd & IOI Corp Hook-up momentum indicators with a daily stochastics buy signal on Genting Berhad supports rebound upside towards the mid Bollinger band (RM9.51), with a breakout to re-test the 21/3/17 high (RM9.90). Key retracement support from the 23.6%FR (RM9.21) is reinforced by the lower band. Similarly, IOI Corp should stage oversold rebound towards the 61.8%FR (RM4.53), while a breakout should aim for the 76.4%FR (RM4.72) or upper Bollinger band (RM4.81) ahead. Key retracement support at the 50%FR (RM4.37) limited downside risk. GENTING BHD Upper Middle RM9.49 (+0.23) BOLLINGER BANDS RM RM 9.84 9.51 10-day 30-day RM 9.18 50-day Lower DMI Recent Signal BUY Recent Signal BUY Signal Change IOI CORP Recent Signal Signal Change BOLLINGER BANDS RM RM RM DMI RM 9.28 DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 9.37 RM 9.53 SELL RM4.45 (+0.03) 4.81 4.60 4.38 SELL SIMPLE MOVING AVERAGES RM 4.52 RM 4.62 RM 4.64 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 4