Malaysia: Daily Market Commentary - 21 March

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, 21 March 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (20.03.2017) (mil) Main Market 3,510.2 Warrants 392.3 ACE Market 2,027.0 Bond 87.9 ETF 0.0 Total 6,017.5 Off Market 115.4 Volume +/-chg (RMmn) -453.8 2,732.7 156.3 43.6 1260.5 227.5 72.8 11.2 0.02 0.0 3,015.1 -24.4 132.1 Value +/-chg -2167.5 13.7 125.8 6.6 0.03 -302.0 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP March 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) 25.0 23.7 17.4 9.0 8.1 7.0 5.0 5.0 5.0 4.0 1.7 1.0 1.0 Up Down 393 312 73 69 71 36 5 4 4 0 546 421 % chg % YTD chg 1,749.41 12,368.74 16,871.42 1,752.00 4.21 27.40 22.96 -4.50 0.24 0.22 0.14 -0.26 6.56 7.87 14.65 7.12 20,905.86 5,901.53 7,429.81 19,521.59 2,157.01 24,501.99 3,165.70 1,563.54 5,533.99 3,250.81 2,036.05 5,778.91 -8.76 0.53 4.85 0.00 -7.57 192.06 -3.68 2.56 -6.44 13.36 6.32 -20.74 -0.04 0.01 0.07 0.00 -0.35 0.79 -0.12 0.16 -0.12 0.41 0.31 -0.36 5.78 9.63 4.02 2.13 6.44 11.37 9.89 1.34 4.48 4.74 3.40 2.00 Top 10 KLCI Movers Based on Mkt Cap. Off Market APFT TIGER SCH SEG DUTALND DANCO MAYBANK ECONBHD SYF YONGTAI BJTOTOT UTDPLT FPGROUP Value/ Volume 0.78 0.11 0.11 0.13 1.31 0.50 1.15 (RM) @ 0.01 @ 0.04 @ 0.23 @ 1.05 @ 0.48 @ 1.44 @ 8.95 @ 2.10 @ 0.61 @ 1.30 @ 2.90 @ 28.20 @ 0.70 Exchange Rate USD/MYR 4.4251 -0.0119 USD/JPY 112.76 -0.4600 EUR/USD 1.076 -0.0007 Counter PCHEM IHH MAXIS AXIATA PETGAS GENTING MISC GENM HLBANK KLK Mkt Cap. (RM’mn) 59,600 49,637 47,766 45,583 39,337 36,604 33,121 31,403 28,197 26,411 Chg (RM) 0.02 0.05 0.03 0.11 0.10 0.04 0.08 0.07 0.12 0.04 Vol. (mn) 2.39 2.99 1.08 17.31 0.34 2.33 1.02 7.12 2.94 0.86 Review & Outlook The blue-chip benchmark index eased off a fresh 22-month high early Monday due to profit-taking interest, but strong retail interest on penny and ACE Market stocks helped lift trading volume to the second highest on record. The KLCI climbed 4.21 points to settle at 1,749.41, off the opening low of 1,744.07 and high of 1,755.26, as gainers led losers 546 to 421 on very strong turnover totaling 6.02bn shares worth RM3.02bn. Given the recent steep rise in daily trading volumes, a profit-taking consolidation is needed to normalize trading conditions. Note that the highest recorded daily volume was 7.6bn shares on 20th August 2014. As for the index, immediate upside hurdles are at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing, and 1,782, the 76.4%FR of the 1,867 to 1,503 correction, followed by 1,800 and the 18/5/15 high of 1,823. Immediate uptrend supports are at 1,730 and 1,712, representing the rising 10 and 30-day moving averages. Any price weakness on MRCB towards the mid Bollinger band (RM1.48) will be attractive to buy for rebound upside, with a convincing breakout above the 10/3/17 high (RM1.56) to aim for the 123.6%FR (RM1.68), 138.2%FP (RM1.76) and 150%FP (RM1.83) ahead. Likewise, dips on UEM Sunrise towards the 76.4%FR (RM1.22) should be cushioned by bargain hunters, while a confirmed breakout above the 6/11/15 peak (RM1.37) could target the 123.6%FP (RM1.52), 138.2%FP (RM1.60) and 150%FP (RM1.68) going forward. • • • • • • • • • • • • • Commodities Futures Palm Oil (RM/mt) 2,778.00 -26.00 Crude Oil ($/Barrel) 48.17 -0.55 Gold ($/tr.oz.) 1,234.00 5.10 Important Dates IOIPG - 1:4 Rights Issue - RI of up to 1,109.9m shares. 1 rights share for every 4 existing shares held, at an issue price of RM1.38 per rights share. Application Closed: 17/03/2017. LISTING ON: 31/03/2017. • • • • News Bites Malaysia's A3 government bond rating and stable outlook suggests a resilient economy against structural fiscal challenges posed by the trend deterioration in revenue, as well as signs of weakening institutional strength, according to Moody's Investors Service. The Genting Group has obtained preliminary approval for its proposed development of a 300-room hotel within the vicinity of a country bus terminal in Omni, Miami. Tiong Nam Logistics Holdings Bhd has set up a new unit in China to expand its logistics business to that country. Chinese e-commerce giant Alibaba Group Holding Ltd plans to set up a regional distribution hub in Malaysia to cater to its fast-growing business in the region. The board of directors of Idea approved the scheme of amalgamation of Vodafone India Limited and its wholly owned subsidiary Vodafone Mobile Services Limited with Idea, in which Axiata Group Berhad has a minority stake. IJM Corp Bhd has established a private vehicle to invest up to 74% stake in Dewas Bypass Tollway Pte Ltd, a highway concessionaire in India. Works minister Datuk Fadillah Yusof said the government intends to make the adoption of industrialised building systems in construction projects compulsory in 2018. Pestech International Bhd hopes to complete the listing of its Cambodian unit by the end of this year, raising proceeds of between US$10.0mn and US$15.0mn. Boustead Holdings Bhd updates that it has secured a letter of acceptance from the Defence Ministry to supply four vessels to the Royal Malaysian Navy, and that the deal is valued at RM1.2bn. Permodalan Nasional Bhd is looking to merge Sime Darby Bhd's motor division with UMW Holdings Bhd, The Edge quoted sources without confirming the news. The Edge quoted sources that a potential merger between mid-sized lenders AMMB Holdings Bhd and RHB Bank Bhd have resurfaced in the banking industry. Malayan Banking Bhd is anticipating corporate deals in the region to rebound from a five-year low on the back of an improved economic outlook. IOI Properties Group Bhd's rights issue has been oversubscribed by 136.7% as it received valid applications for 1.5bn rights shares over the total amount of 1.1bn rights shares available for subscription. Olympia Industries Bhd confirmed today that it is planning to dispose of its stake in its stockbroking unit Jupiter Securities Sdn Bhd. The Federal Land Authority registered RM1.2bn in unrealised losses that came from its holdings in Felda Global Ventures Holdings Bhd, according to Deputy Minister in the Prime Minister's department Datuk Razali Ibrahim. Tadmax Resources Bhd's executive deputy chairman Datuk Faizal Abdullah has ceased to be a substantial shareholder of the company, after disposing of 27.0mn shares or a 5.5% stake in the open market. Prime Minister Theresa May will file divorce papers to leave the European Union on March 29, launching two years of complex negotiations that will pit the U.K.'s need for a trade deal against the bloc's view that Britain shouldn't benefit from Brexit. 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 : Any price weakness on MRCB towards the mid Bollinger band (RM1.48) will be attractive to buy for rebound upside, with a convincing breakout above the 10/3/17 high (RM1.56) to aim for the 123.6%FR (RM1.68), 138.2%FP (RM1.76) and 150%FP (RM1.83) ahead. Likewise, dips on UEM Sunrise towards the 76.4%FR (RM1.22) should be cushioned by bargain hunters, while a confirmed breakout above the 6/11/15 peak (RM1.37) could target the 123.6%FP (RM1.52), 138.2%FP (RM1.60) and 150%FP (RM1.68) going forward. MRCB Upper Middle RM1.52 (-0.01) BOLLINGER BANDS RM RM 1.57 1.48 10-day 30-day RM 1.39 50-day Lower DMI Recent Signal BUY Recent Signal 1.46 BUY Signal Change UEM SUNRISE Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 1.52 RM 1.48 BOLLINGER BANDS RM RM RM DMI RM1.26 (+0.02) 1.27 1.19 1.11 BUY SIMPLE MOVING AVERAGES RM 1.23 RM 1.18 RM 1.15 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 2