Malaysia: Daily Market Commentary - 26 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, 26 April 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only Review & Outlook KLSE Market Statistics (25.04.2017) Volume (mil) +/-chg (RMmn) Main Market 2,517.2 246.1 2,955.5 Warrants 408.9 141.3 42.8 ACE Market 705.8 142.9 113.8 Bond 26.2 7.4 1.1 ETF 0.1 0.04 0.1 Total 3,658.1 3,113.3 Off Market 148.4 113.2 282.6 Value +/-chg 446.3 12.1 5.4 0.2 0.04 205.0 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 (mn) 64.5 16.5 16.2 13.5 12.8 6.0 5.0 3.0 2.2 2.0 1.5 1.1 1.0 1.0 Up Down 387 273 123 60 41 50 4 5 4 0 559 388 % chg % YTD chg 1,765.80 12,578.21 17,525.43 1,758.50 9.75 87.63 141.42 11.00 0.56 0.70 0.81 0.63 7.56 9.69 19.09 7.52 20,996.12 6,025.49 7,275.64 19,079.33 2,196.85 24,455.94 3,163.93 1,562.27 5,680.80 3,134.57 1,882.86 5,871.78 232.23 41.67 10.96 203.45 23.11 316.46 19.90 -2.39 16.32 5.04 9.48 0.00 1.12 0.70 0.15 1.08 1.06 1.31 0.63 -0.15 0.29 0.16 0.51 0.00 6.24 11.93 1.86 -0.18 8.41 11.16 9.83 1.25 7.25 1.00 -4.38 3.64 Off Market SEM A&M TIGER SPSETIA BJASSET EKOVEST MAYBANK BIPORT AIM ECONBHD WTHORSE OCR-PA GDEX ASIAPAC Value/ Volume 1.17 0.10 0.16 0.04 1.13 0.85 1.90 @ @ @ @ @ @ @ @ @ @ @ @ @ @ (RM) 1.55 1.73 0.06 3.67 1.02 1.33 9.35 6.50 0.20 2.16 2.02 0.22 2.54 0.18 Exchange Rate USD/MYR 4.3687 -0.0272 USD/JPY 110.42 0.2600 EUR/USD 1.088 0.0021 Bursa Malaysia shares surged to a fresh 23-month high on Tuesday, lifted by a global rally after the first round of French polls over the weekend point to a likely eventual victory for centrist candidate Emmanuel Macron who favours the Eurozone. The KLCI climbed 9.75 points to close at 1,765.80, off an early low of 1,758.47 and high of 1,765.94, as gainers led losers 559 to 388 on stronger turnover of 3.66bn shares worth RM3.11bn. While the positive development in the French elections continue to spillover to global markets, on the local front, buying momentum will need further improvement to encourage more investor commitments and sustain recovery. On the index, next upside hurdle will be at 1,782, the 76.4%FR of the 1,867 to 1,503 downswing, followed by 1,800 and the 18 May 2015 high of 1,823. Key uptrend supports cushioning downside will be at 1,744 and 1,731, the respective 30 and 50-day moving average levels. Further rally on AirAsia shares will aggravate overbought momentum and encourage profit-taking, with key upside hurdles seen at RM3.60 and the 123.6%FP (RM3.90), while important uptrend supports are at RM3.13, RM3.03 and RM2.90, which are the respective 10, 30 and 50-day moving average levels. Similarly, AirAsia X will meet strong profit-taking resistance near the 18/8/16 peak (49.5sen), with next resistance seen from the 123.6%FP (55sen), while key chart supports are at the 61.8%FR (41sen) and 40sen, matching the 10, 30 and 50-day moving averages. News Bites • • • Top 10 KLCI Movers Based on Mkt Cap. • Counter • TENAGA SIME CIMB IHH MAXIS AXIATA DIGI GENTING MISC IOICORP Mkt Cap. (RM’mn) 78,002 63,452 50,993 50,214 48,442 46,126 40,275 36,761 32,854 28,610 Chg (RM) 0.06 0.06 0.14 0.02 0.01 0.08 0.01 0.12 0.05 0.01 Vol. (mn) 9.70 10.43 23.82 9.93 4.73 11.21 8.16 5.49 1.90 6.08 Commodities Futures Palm Oil (RM/mt) 2,486.00 -42.00 Crude Oil ($/Barrel) 49.36 0.15 Gold ($/tr.oz.) 1,265.50 -12.40 Important Dates L&G - 8:5 Rights Issue - RI of up to 1,914.1m shares. 8 rights shares for every 5 existing share held, at an issue price of RM0.21 per rights share. Application Closed: 03/05/2017. LISTING ON: 18/05/2017. • • • • • • • • • • • • Malaysia Airports Holdings Bhd provided additional information in response to Bursa Malaysia's query on the RM43.99mn claims by the group's former contractor Syarikat Pembinaan Anggerik Sdn Bhd. Prasarana Malaysia Bhd will start awarding the main packages for the 37km Light Rail Transit Line 3 (LRT3) project in June or July this year. 7-Eleven Malaysia Holdings Bhd is planning to undertake a rights issue of new warrants at an issue price of 10 sen for each warrant, to raise up to RM61.67mn for working capital purposes. Westports Holdings Bhd is allocating over RM800mn for its port expansion, including the construction of its Container Terminal 8 (CT8) Phase 2 wharf and container yard, this year. KKB Engineering Bhd has entered into a MoU with a China-based nuclear power consultant company to scout for possible future tenders for projects in Sarawak. Allianz Malaysia Bhd has ended discussions to acquire HSBC Amanah Takaful (Malaysia) Bhd. Nestle (Malaysia) Bhd closed 1QFY17 with a 4.4% YoY rise in net profit to RM230.4mn. Unisem (M) Bhd recorded a 29% YoY jump in its net profit for 1QFY17 to RM44.9mn. Globetronics Technology Bhd recorded a 27% YoY jump in net profit in 1QFY17. Pantech Group Holdings Bhd saw its net profit jump 53.9% YoY to RM11.27mn in 4QFY17. Aeon Credit Service (M) Bhd saw its net profit 4QFY17 rise 17% YoY to RM80.1mn. Syarikat Takaful Malaysia Bhd ended its 1QFY17 with a 21.7% YoY increase in net profit. The electrical and electronics (E&E) industry grew by 20.6% in the first two months of this year, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed. Corporate service prices in Japan were up 0.8% on year in March. South Korea's consumer confidence strengthened further in April to the highest level in six months. U.S. home-price growth continued accelerating in February. Sales of new homes increased sharply for the third consecutive month in March, an indication that demand is picking up. Americans grew less optimistic about the economy in April, but confidence remained high. 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 : Sell Rally on AirAsia & AirAsia X Further rally on AirAsia shares will aggravate overbought momentum and encourage profit-taking, with key upside hurdles seen at RM3.60 and the 123.6%FP (RM3.90), while important uptrend supports are at RM3.13, RM3.03 and RM2.90, which are the respective 10, 30 and 50-day moving average levels. Similarly, AirAsia X will meet strong profit-taking resistance near the 18/8/16 peak (49.5sen), with next resistance seen from the 123.6%FP (55sen), while key chart supports are at the 61.8%FR (41sen) and 40sen, matching the 10, 30 and 50-day moving averages. AIRASIA Upper Middle RM3.28 (+0.04) BOLLINGER BANDS RM RM 3.25 3.11 10-day 30-day RM 2.96 50-day Lower DMI Recent Signal BUY 2.90 Recent Signal BUY Signal Change AIRASIA X Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 3.13 RM 3.03 BOLLINGER BANDS RM RM RM DMI RM0.45 (+0.05) 0.43 0.40 0.38 BUY SIMPLE MOVING AVERAGES RM 0.40 RM 0.40 RM 0.40 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 4