Malaysia: Daily Market Commentary - 30 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 Friday, 30 June 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (29.06.2017) (mil) Main Market 910.0 Warrants 110.8 ACE Market 370.9 Bond 4.6 ETF 0.0 Total 1,396.3 Off Market 78.5 Volume +/-chg (RMmn) -26.7 1,453.2 -57.7 12.2 92.6 88.4 -8.1 1.9 -0.01 0.0 1,555.7 35.7 204.4 Value +/-chg -317.9 -9.0 33.7 -1.8 -0.01 187.4 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 Up Down 383 222 60 57 57 33 1 2 1 0 502 314 % chg % YTD chg 1,771.36 12,631.92 17,470.52 1,776.00 0.13 13.64 100.11 -0.50 0.01 0.11 0.58 -0.03 7.90 10.16 18.72 8.59 21,287.03 6,144.35 7,350.32 20,220.30 2,395.66 25,965.42 3,258.65 1,578.12 5,829.71 3,188.06 1,892.27 5,818.10 -167.58 -90.06 -37.48 89.89 13.10 281.92 42.95 -4.51 0.00 14.86 8.90 62.40 -0.78 -1.44 -0.51 0.45 0.55 1.10 1.34 -0.28 0.00 0.47 0.47 1.08 7.71 14.14 2.90 5.79 18.22 18.02 13.12 2.28 10.06 2.72 -3.90 2.69 Top 10 KLCI Movers Based on Mkt Cap. Off Market (mn) PTRANS 30.0 BIMB 10.5 GDEX 8.0 MAXIS 7.0 PETGAS 4.5 LAYHONG-WA 4.0 BJASSET 3.5 GKENT 3.0 SEAL 2.6 ECOFIRS 2.4 UNIMECH 2.0 Review & Outlook Value/ Volume 1.60 0.11 0.24 0.41 1.18 1.11 2.60 (RM) @ 0.18 @ 4.50 @ 0.61 @ 5.61 @ 18.72 @ 0.45 @ 1.30 @ 4.15 @ 0.42 @ 0.25 @ 1.08 Counter Mkt Cap. (RM’mn) PBBANK 78,388 PCHEM 56,960 IHH 48,857 MISC 33,166 IOICORP 28,277 KLK 26,475 RHBBANK 20,371 PPB 20,082 AMBANK 14,739 ASTRO 13,701 Chg (RM) 0.04 0.02 0.01 0.11 0.05 0.02 0.01 0.14 0.02 0.04 Important Dates TDM - 1:10 Bonus Issue - BI of 150.5m shares. 1 bonus share for every 10 existing shares. Entitlement Date: 03/07/2017. LISTING ON: 04/07/2017. SCC - 1:10 Bonus Issue - BI of 4.3m shares. 1 bonus share for every 10 existing shares. Ex-Date: 06/07/2017. Entitlement Date: 10/07/2017. LISTING ON: 11/07/2017. Vol. (mn) 3.52 5.95 1.62 0.78 0.95 1.72 0.62 0.22 1.43 0.85 Late profit-taking overshadowed earlier gains Thursday which was encouraged by the overnight rally on US financial and technology stocks which led a broad market rebound. The KLCI ended flat at 1,771.36 after ranging between early high of 1,775.85 and low of 1,770.53, as gainers led losers 502 to 314 on slow trade totaling 1.39bn shares worth RM1.55bn. Stocks should extend sideways trade amid weak buying momentum today, in the absence of 1H window-dressing interest. On the index, a decisive break below the 50-day moving average level, now at 1,770, could grease slide to better support from 1,762, the lower Bollinger band, and subsequently the 100-day ma at 1,746. Immediate upside hurdle will be the recent high of 1,796, and then the 1,800 psychological level. Bearish technical momentum on Tenaga implies correction potential to the 61.8%FR (RM14.02), with a breakdown to test better support from the 50%FR (RM13.75), mirroring the 100-day ma, while overhead resistance is from the upper Bollinger band (RM14.61). Similarly, TM shares should weaken before finding support from the 61.8%FR (RM6.48), with better support from the 50%FR (RM6.36), matching the 200-day ma level, and major overhead resistance from the 30/8/16 high (RM6.90). News Bites • Sime Darby Bhd is selling New Lunderston Estate, a freehold tract measuring 297.5 acres, in Selangor for RM85.5mn cash. • AEON Co (M) Bhd is disposing of the two-storey AEON Mahkota Cheras Shopping Centre built for RM87.8mn to Foremost Wealth Management Sdn Bhd. • Vivocom International Holdings Bhd has proposed to place new shares to third party investors to raise between RM35.6mn and RM47.9mn for working capital and bank borrowings repayment. • Boon Koon Group Bhd intends to diversify into property development and has entered into a joint development agreement with Platinum Eminent. • A shareholder of Sarawak-based Hock Seng Lee Bhd has failed in his bid to remove managing director Datuk Yu Chee Hoe and three others from the board of the construction and engineering group. • Tiger Synergy Bhd has signed a memorandum of agreement with Prosma Bhd, a holding company for the assets of Sekretariat Komuniti Prefer Malaysia, to develop a RM100mn affordable condominium in Gombak. • TSR Capital Bhd said it is open to selling its Menara TSR in Mutiara Damansara, Petaling Jaya, which is valued at about RM170mn known, and would use the gains from the disposal for future property development projects. • Kumpulan Jetson Bhd's wholly-owned unit has accepted a RM919.3mn subcontract job from MCC Overseas (M) Sdn Bhd to undertake main building works for a mixed commercial project on Jalan Conlay, Kuala Lumpur. • Tasco Bhd expects its foray into the cold chain logistics segment to boost its 2017 revenue by an additional RM100mn, following shareholder approval for its acquisition of Gold Cold Transport and Westport land. • Reach Energy Bhd wants to ramp up oil production in its 60%-owned Kazakhstan oil field to between 4,000 and 5,000 barrels of oil per day by the end of 2017 from 3,301 barrels of oil per day as at end-2016. • Berjaya Corp Bhd made a net profit of RM140.0mn in FY17 against a net loss of RM177.22mn the year before due to higher net profit from the property investment and development segment. • The US GDP increased at a 2.1%p annualized rate instead of the previously reported 1.9% pace, the Commerce Department said in its third GDP estimate for the period. Exchange Rate USD/MYR 4.2933 -0.0061 USD/JPY 112.55 0.3700 EUR/USD 1.141 0.0047 Commodities Futures Palm Oil (RM/mt) 2,464.00 25.00 Crude Oil ($/Barrel) 44.87 -0.01 Gold ($/tr.oz.) 1,245.60 -3.80 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 Tenaga & TM Bearish technical momentum on Tenaga implies correction potential to the 61.8%FR (RM14.02), with a breakdown to test better support from the 50%FR (RM13.75), mirroring the 100-day ma, while overhead resistance is from the upper Bollinger band (RM14.61). Similarly, TM shares should weaken before finding support from the 61.8%FR (RM6.48), with better support from the 50%FR (RM6.36), matching the 200-day ma level, and major overhead resistance from the 30/8/16 high (RM6.90). TENAGA RM14.14 (UNCH) Upper Middle BOLLINGER BANDS RM RM 14.61 14.15 10-day 30-day Lower RM 13.69 50-day BUY Recent Signal DMI Recent Signal 13.96 SELL Signal Change TM Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 14.27 RM 14.04 BOLLINGER BANDS RM RM RM DMI RM6.61 (-0.01) 6.68 6.56 6.44 BUY SIMPLE MOVING AVERAGES RM 6.61 RM 6.53 RM 6.50 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 2