Malaysia: Daily Market Commentary - 26 July

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 July 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only Review & Outlook KLSE Market Statistics (25.07.2017) Volume (mil) +/-chg (RMmn) Main Market 1,058.5 9.3 1,518.4 Warrants 149.2 48.7 15.3 ACE Market 463.2 -45.1 91.6 Bond 7.6 -2.5 1.6 ETF 0.0 0.01 0.0 Total 1,678.6 1,626.9 Off Market 25.6 -45.2 155.6 Value +/-chg -45.1 3.9 -9.4 -0.3 0.03 79.0 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP July 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 1,763.34 12,549.59 17,239.33 1,768.00 21,613.43 6,412.17 7,434.82 19,955.20 2,439.90 26,852.05 3,327.83 1,581.42 5,813.54 3,243.69 1,848.59 5,726.60 Off Market MAYBANK CIMB GESHEN PWORTH QL REXIT AXREIT (mn) 11.0 5.0 3.5 2.9 1.2 1.0 1.0 @ @ @ @ @ @ @ (RM) 9.63 6.35 2.08 0.25 4.89 0.83 1.64 Exchange Rate USD/MYR 4.2827 0.0047 USD/JPY 111.37 0.6500 EUR/USD 1.165 0.0002 1.35 -6.48 -58.79 7.00 Value/ Volume 1.43 0.10 0.20 0.21 1.54 0.97 6.08 Up Down 214 368 74 80 36 59 3 3 2 0 329 510 % chg % YTD chg 0.08 -0.05 -0.34 0.40 7.41 9.45 17.15 8.10 100.26 0.47 1.36 0.02 57.09 0.77 -20.47 -0.10 -11.63 -0.47 5.22 0.02 17.03 0.51 4.69 0.30 11.95 0.21 -6.91 -0.21 -6.07 -0.33 38.53 0.68 Top 10 KLCI Movers Mkt Cap. Counter TENAGA PBBANK IHH AXIATA MAXIS PETGAS GENTING GENM MISC IOICORP Mkt Cap. (RM’mn) 80,471 78,852 57,481 43,426 42,381 37,358 36,341 34,748 33,211 32,400 9.37 19.12 4.09 4.40 20.40 22.05 15.52 2.49 9.76 4.51 -6.12 1.07 Based on Chg (RM) 0.04 0.04 0.01 0.01 0.02 0.08 0.08 0.08 0.06 0.04 Vol. (mn) 12.69 2.59 11.52 2.91 1.31 0.10 1.64 6.12 0.35 0.43 Commodities Futures Palm Oil (RM/mt) 2,625.00 69.00 Crude Oil ($/Barrel) 48.55 2.07 Gold ($/tr.oz.) 1,249.70 -5.60 Important Dates VITROX - 1:1 Bonus Issue - BI of 236.3m shares. 1 bonus share for every 1 existing share. LISTING ON: 24/07/2017. ORION - 7:2 Rights Issue - RI of up to 465.9m shares together with up to 232.9m free detachable warrants. 7 rights shares together every 2 existing shares held, at an issue price of RM0.17 per rights share, with 1 free warrant for every 2 rights shares subscribed. LISTING ON: 02/08/2017. Blue chips rose slightly Tuesday, with gaming counters and Petronas heavyweights shoring up the benchmark, but lower liners and small caps remained in profit-taking consolidation. The KLCI added 1.35 points to end at 1,763.34, off an opening high of 1,766.47 and low of 1,761.16, as losers beat gainers 510 to 329 on slow trade totaling 1.68bn shares worth RM1.62bn. Range bound trade should persist with market players expected to be sidelined and cautious ahead of the US FOMC policy meeting. Immediate support from the 100-day moving average level now at 1,757 must hold to prevent further correction to 1,729, a key support level in April, while crucial uptrend support is from the 200-day moving average at 1,708. Immediate resistance stays at the 50-day moving average now at 1,771, next 1,782, followed by the recent peak of 1,796. Any price dips on Axiata towards the lower Bollinger band (RM4.56) should be attractive to bargain for rebound upside to RM4.90, with the 38.2%FR (RM5.15) and 50%FR (RM5.48) acting as tougher resistance. Crucial support is from the 29/11/16 low (RM4.11). Hook-up momentum indicators on TM implies good rebound potential towards the 61.8%FR (RM6.48), with next hurdle from the 76.4%FR (RM6.64), while good retracement support is seen from the 38.2%FR (RM6.22). News Bites • • • • • • • • • • • • • • • • • • • Serba Dinamik Holdings Berhad announced that its subsidiaries secured a total of six operations and maintenance contracts with a combined value of RM522.9mn. Sapura Energy Bhd has secured projects worth RM6.3bn for FY17. Premier Nalfin Berhad has proposed to undertake a capital reduction and repayment exercise. This is pursuant to the delisting of the company from the stock exchange. AirAsia X Bhd's operating performance in the 2Q2017 trended slightly above expectations. CCK Consolidated Holdings Berhad announced that a fire incident occurred at the fish ball production section of CS Choice. Halal Industry Development Corporation signed a MoU with Weifang Sime Darby Port Co., Ltd., China, a 99% owned subsidiary of Sime Darby Berhad. Gabungan AQRS Berhad has set an issue price of RM1.35/share for its private placement exercise of 19.5mn shares. Sasbadi Holdings Berhad entered into a sale and purchase agreement to acquire the remaining 30% stake in Sanjung Unggul Sdn Bhd for RM9.4mn. Gromutual Berhad has acquired three pieces of land for RM7.3mn. Aturmaju Resources Berhad is aborting its private placement exercise to raise RM2.4mn. T7 Global Berhad has acquired a 9.8% stake in Triangle Energy Global Limited (TEGL) for RM2.2mn. Public Bank Berhad reported a 3.8% YoY increase in its 1HFY17 profit to RM2.6bn. Ajiya Berhad's 1HFY17 net profit more than tripled to RM10.7mn due to higher other income. China's economy is likely to grow at an annual rate of around 6.7% in the 2H 2017, slowing slightly from the 1H 2017. Australia's consumer confidence improved during the week ended July 23, after falling in the previous two weeks. Home-price growth flattened across the U.S. in May, a sign that the rapid upward trajectory in the cost of buying a home may finally be coming to an end. Americans became more confident about the economy in July, according to the Conference Board. British factories increased output at the fastest rate since the mid1990s over the past three months, according to a survey published. German import prices increased at the slowest pace in seven months in June, data from Destatis showed. 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 : Bargain Axiata & TM Any price dips on Axiata towards the lower Bollinger band (RM4.56) should be attractive to bargain for rebound upside to RM4.90, with the 38.2%FR (RM5.15) and 50%FR (RM5.48) acting as tougher resistance. Crucial support is from the 29/11/16 low (RM4.11). Hook-up momentum indicators on TM implies good rebound potential towards the 61.8%FR (RM6.48), with next hurdle from the 76.4%FR (RM6.64), while good retracement support is seen from the 38.2%FR (RM6.22). AXIATA RM4.71 (+0.02) Upper Middle BOLLINGER BANDS RM RM 4.91 4.73 10-day 30-day Lower RM 4.56 50-day SELL Recent Signal DMI Recent Signal 4.94 BUY Signal Change TM Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 4.69 RM 4.82 BOLLINGER BANDS RM RM RM DMI RM6.38 (+0.05) 6.71 6.50 6.28 SELL SIMPLE MOVING AVERAGES RM 6.40 RM 6.53 RM 6.51 DAILY MACD Recent Signal SELL Signal Change 10-day 30-day 50-day Page 2 of 4