Malaysia: Daily Market Commentary - 22 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 Wednesday, 22 March 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (21.03.2017) (mil) Main Market 3,107.5 Warrants 296.7 ACE Market 1,081.6 Bond 92.6 ETF 0.1 Total 4,578.4 Off Market 87.0 Volume +/-chg (RMmn) -402.7 3,079.9 -95.6 33.4 -945.4 161.3 4.7 12.0 0.04 0.1 3,286.6 -28.3 305.2 Value +/-chg 347.2 -10.3 -66.3 0.8 0.05 173.0 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 Up Down 350 341 89 79 51 50 5 6 1 1 496 477 % chg % YTD chg 1,754.67 12,406.35 16,955.76 1,763.00 5.26 37.61 84.34 11.00 0.30 0.30 0.50 0.63 6.88 8.20 15.22 7.80 20,668.01 5,793.83 7,378.34 19,455.88 2,178.38 24,593.12 3,158.57 1,568.78 5,543.09 3,261.61 2,043.94 5,774.62 -237.85 -107.70 -51.47 -65.71 21.37 91.13 -7.13 5.24 9.10 10.80 7.89 -4.29 -1.14 -1.83 -0.69 -0.34 0.99 0.37 -0.23 0.34 0.16 0.33 0.39 -0.07 4.58 7.63 3.30 1.79 7.50 11.78 9.64 1.67 4.65 5.09 3.80 1.92 Top 10 KLCI Movers Based on Mkt Cap. Off Market (mn) MAYBANK 26.5 CONNECT 11.9 GBGAQRS 9.0 TIGER 8.3 LAYHONG 7.0 BJTOTOT 4.7 BIMB 4.5 DANCO 3.8 HALEX 3.2 T7GLOBAL 2.0 FPGROUP 1.7 TSRCAP 1.5 IRETEX 1.0 Value/ Volume 0.99 0.11 0.15 0.13 1.24 0.72 3.51 @ @ @ @ @ @ @ @ @ @ @ @ @ (RM) 8.99 0.26 1.27 0.04 0.90 2.85 4.43 1.43 0.64 0.50 0.65 0.54 0.22 Exchange Rate USD/MYR 4.4247 -0.0004 USD/JPY 112.55 -0.2100 EUR/USD 1.080 0.0041 Counter Mkt Cap. (RM’mn) MAYBANK 91,740 TENAGA 77,889 PCHEM 60,640 MAXIS 47,916 DIGI 39,886 PETGAS 39,495 MISC 33,211 GENM 32,197 IOICORP 29,553 KLK 26,432 Chg (RM) 0.10 0.06 0.13 0.02 0.01 0.08 0.02 0.14 0.02 0.02 Vol. (mn) 20.29 7.25 11.56 4.59 8.33 1.82 1.73 11.26 5.46 2.41 Commodities Futures Palm Oil (RM/mt) 2,811.00 33.00 Crude Oil ($/Barrel) 47.50 -0.67 Gold ($/tr.oz.) 1,244.60 10.60 Review & Outlook Stocks closed higher Tuesday helped by the stronger ringgit and higher oil prices, due to the weaker USD caused by the less hawkish tone from the US central bank on hiking interest rates, which encouraged gains on oil & gas related counters. The KLCI added 5.26 points to end at 1,754.67, off the high of 1,757.99 and low of 1,748.82, as gainers edged losers 496 to 477 on less robust turnover totaling 4.58bn shares worth RM3.28bn. While the overnight US market correction should spillover to encourage an overdue profit-taking dip in blue chips, active rotational plays on small caps and lower liners should dominate to encourage greater retail participation. Immediate uptrend supports for the index are at 1,730 and 1,714, representing the rising 10 and 30-day moving averages. Looking ahead, a convincing breach above 1,758, the 23.6%FR of the 1,310 to 1,896 upswing and matching yesterday's high, should aim for 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. Positive technical momentum supports further upside bias on Dialog towards the 76.4%FR (RM1.78), RM1.88 and the 8/7/14 high (RM1.96) ahead, while key chart supports are from the mid Bollinger band (RM1.66) and 50%FR (RM1.58). Wah Seong shares need convincing breakout above the 61.8%FR (95sen) to enhance upside momentum to the 50%FR (RM1.04) and 38.2%FR (RM1.14) going forward, while key retracement support is at the 76.4%FR (83sen). • • • • • • • • • • • • • • 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 The Malaysian government sought parliamentary approval to increase its expenditure under the 2016 budget, saying it had spent some RM3.08bn more than planned. UMW Holdings Bhd's property unit and the Malaysian Investment Development Authority plan to team up to develop a 348.3-hectare land in Serendah, Selangor, into a high-value manufacturing park focused on aerospace and smart manufacturing. Yong Tai Bhd had clinched two pieces of land in Malacca totalling 4.9ha by buying 100% equity interest in Laila Development Sdn Bhd, the landowner, for RM35mil, which is expected to lead to the development of two separate property projects with a combined GDV of RM2.3bn. Tenaga Nasional Bhd rose 15 spots to rank 24th in Brand Finance's Global Top 50 utility brands in 2017, which represented a significant 33% jump to US$1.6bn for the national utility corporation's brand value. Ranhill Holdings Bhd has been instructed to commence work on a 30 MLD water treatment plant, intake plant and pipeline despite the lack of approvals from relevant authorities. SILK Holdings Bhd is allocating RM200mn from its proposed disposal of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd to Permodalan Nasional Bhd to strengthen its marine logistics business. Cagamas Bhd, the National Mortgage Corporation of Malaysia, announced the issuance of its three-month Islamic Commercial Papers amounting to RM500mn. Alam Maritim Resources Bhd has landed a RM99mn contract to provide subsea inspection, maintenance and repair services to an independent oil and gas exploration and production company. DRB-Hicom Bhd's unit, Composites Technology Research Malaysia Sdn Bhd, is investing RM93.4mn for a new building at its manufacturing facility in Melaka. Felda Global Ventures Holdings Bhd is in talks for a strategic, longterm shareholder to buy into the company. The details and terms are still being ironed out, but the deal is slated for completion by year end. Telekom Malaysia Bhd has appointed Datuk Seri Mohammed Shazalli Ramly as its new managing director and group CEO with effect from May 1. Mulpha International Bhd has announced a 10-into-one share consolidation plan to improve its capital structure and reduce the trading volatility of its shares. LPI Capital Bhd, a general insurance company, expects to perform better in 2017, targeting over 5% growth for its gross premium income. Group managing director Darmendran a/l Kunaretnam's plan to take over canned food and drink manufacturer Rex Industry Bhd has fallen through as his RM1.65-per-share offer attracted only 5,525 shares, or 0.01% of the issued share capital. China faces mounting financial risk even as an innovation drive aimed at rebalancing the economy away from low-value manufacturing falls short, according to a report by the Organization for Economic Cooperation and Development. 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 : Positive technical momentum supports further upside bias on Dialog towards the 76.4%FR (RM1.78), RM1.88 and the 8/7/14 high (RM1.96) ahead, while key chart supports are from the mid Bollinger band (RM1.66) and 50%FR (RM1.58). Wah Seong shares need convincing breakout above the 61.8%FR (95sen) to enhance upside momentum to the 50%FR (RM1.04) and 38.2%FR (RM1.14) going forward, while key retracement support is at the 76.4%FR (83sen). DIALOG Upper Middle RM1.71 (+0.04) BOLLINGER BANDS RM RM 1.72 1.66 10-day 30-day RM 1.60 50-day Lower DMI Recent Signal BUY 1.60 Recent Signal SELL Signal Change WAH SEONG Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 1.67 RM 1.63 BOLLINGER BANDS RM RM RM DMI RM0.90 (+0.02) 0.90 0.88 0.85 BUY SIMPLE MOVING AVERAGES RM 0.87 RM 0.88 RM 0.86 DAILY MACD Recent Signal BUY Signal Change BUY 10-day 30-day 50-day Page 2 of 2