Malaysia: Daily Market Commentary - 21 June

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, 21 June 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only Review & Outlook KLSE Market Statistics (20.06.2017) Volume (mil) +/-chg (RMmn) Main Market 1,105.2 -3.3 2,080.9 Warrants 199.4 -28.3 20.9 ACE Market 486.0 -83.8 75.0 Bond 15.8 -4.1 5.1 ETF 0.1 -0.04 0.1 Total 1,806.4 2,182.0 Off Market 148.2 16.8 80.6 Value +/-chg 303.8 -3.6 -9.9 -2.6 -0.02 - Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP June 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) 80.4 40.0 11.0 10.5 2.9 1.0 Up Down 227 377 38 114 42 49 2 3 2 1 311 544 % chg % YTD chg 1,780.71 12,657.97 17,324.14 1,787.50 -8.19 -58.39 -23.75 -3.00 -0.46 -0.46 -0.14 -0.17 8.47 10.39 17.73 9.29 21,467.14 6,188.03 7,472.71 20,230.41 2,369.23 25,843.04 3,230.42 1,578.62 5,791.90 3,140.01 1,879.06 5,757.25 -61.85 -50.98 -51.10 162.66 -1.67 -81.51 -16.76 -2.52 50.00 -4.36 2.21 -47.92 -0.29 -0.82 -0.68 0.81 -0.07 -0.31 -0.52 -0.16 0.87 -0.14 0.12 -0.83 8.63 14.95 4.62 5.84 16.91 17.47 12.14 2.31 9.35 1.17 -4.57 1.61 Off Market CSL MQTECH KSENG BIMB WZSATU ORION Value/ Volume 1.88 0.10 0.15 0.32 1.49 1.21 0.54 @ @ @ @ @ @ (RM) 0.07 0.06 5.10 4.50 1.20 0.21 Blue chips closed lower Tuesday led by oil & gas heavyweights, as oil prices fell on global supply glut worries and investors profit-taking after recent gains. The KLCI ended at the day's low of 1,780.71, off the early high of 1,787.70, as losers beat gainers 544 to 311 on total trade of 1.8bn worth RM2.18bn. Weak technical momentum caused by the recent fall point to continuation of overbought correction until buying support resurface at lower levels. A breakdown below the 30-day moving average level at 1,777 may accelerate correction to next support from the 50-day moving average at 1,767, and better support from 1,759, the lower Bollinger band. Immediate upside hurdle stay at the 1,800 psychological level, followed by the 18 May 2015 high of 1,823. Topping out chart pattern and weak technical momentum on Genting Bhd implies downside risk towards the 23.6%FR (RM9.41), with better support from the 38.2%FR (RM9.04), while key overhead resistance is from the 26/4/17 peak (RM10.00). Bearish technical momentum on Tenaga point to overbought correction towards the 61.8%FR (RM14.00), with stronger support seen from the 50%FR (RM13.75), and immediate resistance at RM14.60 and the 26/8/16 high (RM14.90). • • • • • • Top 10 KLCI Movers Based on Mkt Cap. • Counter • TENAGA PBBANK IHH CIMB MAXIS AXIATA DIGI PETGAS GENTING MISC Mkt Cap. (RM’mn) 81,037 78,466 60,106 57,200 45,050 42,209 38,797 36,923 36,489 33,121 Chg Vol. (RM) (mn) -0.06 10.22 -0.02 3.28 -0.03 17.70 -0.05 5.71 -0.05 4.04 -0.26 17.58 -0.01 2.41 -0.22 0.83 -0.11 1.42 -0.07 0.54 • • • • News Bites Axiata Group Bhd, through wholly-owned subsidiary edotco Pakistan Pvt Ltd, is buying a Pakistani tower company for USD90mn. Top Glove Corporation Bhd is looking to venture into the condom manufacturing business by next year and the initial investment for the condom business will be around RM30mn. Sapura Resources Bhd has inked a joint venture and shareholders agreement with Destini Bhd's wholly-owned unit Destini Aviation Sdn Bhd, to take equal ownership in JV, Urban Fleet Sdn Bhd. Selangor Dredging Bhd is selling Wisma Selangor Dredging along with the land on Jalan Ampang for RM480mn cash. Astro Malaysia Holdings Bhd has launched its digital marketing arm, Blaze Digital, which will offer integrated digital solutions for marketers across Astro's 21 digital brands as well as 11 independent digital publications. Malakoff Corp Bhd has appointed its executive vice president of operations, Habib Husin, as its acting chief executive officer, with immediate effect, after resignation of its managing director. CCM Duopharma Biotech Bhd expects its gearing to increase to 0.87x from 0.25x following its uptake of RM280mn Islamic financing facilities with Ambank Islamic Bhd. PRG Holdings Bhd and landowner Sunsuria City Sdn Bhd have signed a memorandum of collaboration to promote the use of electric vehicles in Malaysia. Petroliam Nasional Bhd's consortium with Colombia's Ecopetrol came out on top of a four-way contest for Area 6 of Mexico's second bid round for shallow-water oil and gas acreage. Berjaya Sports Toto Bhd's FY17 net profit fell 22% to RM241.3mn, from RM308.6mn in FY16. It was below our expectations but within consensus. Scientex Bhd's net profit for 3QFY17 rose 8.6% YoY to RM66.5mn driven mainly by stronger exports in the group's manufacturing segment and higher progress billings for ongoing property development projects. It was within our expectations but below consensus. Federal Reserve Bank of Chicago President Charles Evans said Tuesday that the U.S. central bank can wait until the end of the year before making the decision to raise rates again, while adding it could start reducing the size of its balance sheet before that. Important Dates SEG - 5:7 Bonus Issue - BI of 516.8m shares. 5 bonus shares for every 7 existing shares. Ex-Date: 22/06/2017. Entitlement Date: 28/06/2017. LISTING ON: 29/06/2017. TDM - 1:10 Bonus Issue - BI of 150.5m shares. 1 bonus share for every 10 existing shares. Ex-Date: 29/06/2017. Entitlement Date: 03/07/2017. LISTING ON: 04/07/2017. Exchange Rate USD/MYR 4.2848 0.0063 USD/JPY 111.54 0.5700 EUR/USD 1.115 -0.0054 Commodities Futures Palm Oil (RM/mt) 2,460.00 -24.00 Crude Oil ($/Barrel) 43.34 -0.76 Gold ($/tr.oz.) 1,244.10 -1.10 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 on Genting Bhd & Tenaga Topping out chart pattern and weak technical momentum on Genting Bhd implies downside risk towards the 23.6%FR (RM9.41), with better support from the 38.2%FR (RM9.04), while key overhead resistance is from the 26/4/17 peak (RM10.00). Bearish technical momentum on Tenaga point to overbought correction towards the 61.8%FR (RM14.00), with stronger support seen from the 50%FR (RM13.75), and immediate resistance at RM14.60 and the 26/8/16 high (RM14.90). GENTING BHD Upper Middle BOLLINGER BANDS RM RM Lower RM RM9.64 (-0.11) 10.07 9.84 10-day 30-day 9.61 50-day DMI Recent Signal SELL 9.76 Recent Signal SELL Signal Change TENAGA Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 9.77 RM 9.85 BOLLINGER BANDS RM RM RM DMI RM14.32 (-0.06) 14.62 14.06 13.51 BUY SIMPLE MOVING AVERAGES RM 14.33 RM 14.00 RM 13.92 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 4