Malaysia: Daily Market Commentary - 5 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, 05 April 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only KLSE Market Statistics (04.04.2017) Volume (mil) +/-chg (RMmn) Main Market 2,764.5 484.9 2,665.4 Warrants 191.7 35.9 23.2 ACE Market 1,006.4 220.1 180.3 Bond 11.0 -3.9 1.9 ETF 0.0 -0.01 0.0 Total 3,973.6 2,870.8 Off Market 162.6 113.1 363.0 Value +/-chg 280.7 1.2 41.4 -0.1 -0.01 233.3 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) 50.0 30.0 17.7 12.0 10.4 9.2 8.4 4.5 4.2 3.4 3.0 2.0 1.9 1.5 1.4 1.0 Up Down 378 290 76 58 74 31 3 4 2 1 533 384 % chg % YTD chg 1,747.19 12,438.26 17,307.27 1,749.00 1.70 32.44 155.29 -2.50 0.10 0.26 0.91 -0.14 6.42 8.47 17.61 6.94 20,689.24 5,898.61 7,321.82 18,810.25 2,161.10 24,261.48 3,179.06 1,583.82 5,651.82 3,222.51 1,986.47 5,856.55 39.03 3.93 39.13 -172.98 -6.41 0.00 -8.45 2.96 45.03 0.00 0.00 -16.13 0.19 0.07 0.54 -0.91 -0.30 0.00 -0.27 0.19 0.80 0.00 0.00 -0.27 4.69 9.58 2.51 -1.59 6.64 10.28 10.35 2.65 6.70 3.83 0.88 3.37 @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ (RM) 0.07 8.98 0.70 1.31 0.25 1.53 0.10 1.15 4.45 1.63 2.05 1.50 0.91 0.63 0.37 0.24 Exchange Rate USD/MYR 4.4315 0.0037 USD/JPY 110.74 -0.7000 EUR/USD 1.068 0.0026 Counter Mkt Cap. (RM’mn) SIME 63,316 PCHEM 62,000 AXIATA 44,868 IOICORP 29,113 HLBANK 28,730 KLK 26,539 PETDAG 23,863 RHBBANK 20,973 YTLCORP 15,803 AMBANK 14,679 Chg (RM) 0.02 0.11 0.03 0.01 0.24 0.22 0.12 0.02 0.01 0.02 Review & Outlook As expected, blue chips extended sideways trade Tuesday with investors largely sidelined given uncertainties over US tax and trade policies, but rotational buying interest stayed robust on lower liners and small caps. The KLCI added 1.7 points to again close at the day's high of 1,747.19, off an intra-day low of 1,742.85, as gainers led losers 533 to 384 on improved turnover of 3.97bn shares worth RM2.87bn. Range bound trade is likely to keep the index in check, but we detect increasing rotational interest in lower liner construction related stocks on hopes they will benefit from contract rollouts from the ECRL and other infrastructure projects. On the index, immediate uptrend supports are seen at 1,728 and 1,714, the steadily rising 30 and 50-day moving averages, with 1,700 as stronger support. Immediate overhead resistances stays at 1,758, the 23.6%FR of the 1,310 to 1,896 upswing closely matching last week's high, with stronger hurdle from 1,782, the 76.4%FR of the 1,867 to 1,503 correction. A daily stochastics buy signal supports further upside on Gadang to revisit the 25/10/16 peak (RM1.35), with a convincing breakout to aim for the 123.6%FP (RM1.48) and 138.2%FP (RM1.56) ahead, while key retracement support is from the 76.4%FR (RM1.22). Bullish technical momentum on Mudajaya improves upside potential to test the 61.8%FR (RM1.17), while a confirmed breakout will target the 76.4%FR (RM1.28) and the 6/4/16 high (RM1.45) going forward, and good retracement support is found at the 38.2%FR (RM1.00). • • • • Top 10 KLCI Movers Based on Mkt Cap. Off Market BIOOSMO MAYBANK SINOTOP SKPRES ACME YTLPOWR SGB-PA XINHWA BIMB VS GDEX DANCO LAYHONG SGB-PA SYCAL MEXTER Value/ Volume 0.96 0.12 0.18 0.17 0.98 0.72 2.23 Vol. (mn) 8.47 8.59 5.23 5.70 0.15 0.77 0.46 1.79 9.98 4.08 • • • • • • • • Commodities Futures Palm Oil (RM/mt) 2,566.00 -31.00 Crude Oil ($/Barrel) 51.18 0.93 Gold ($/tr.oz.) 1,257.90 2.50 Important Dates JK GLAND - 2:1 Rights Issue - RI of up to 1,516.6m shares. JKGLAND 2 rights shares for every 1 existing share held, at an issue price of RM0.10 per rights share. Application Closed: 10/04/2017. LISTING ON: 21/04/2017. • • • News Bites Mudajaya Group Bhd has been awarded a RM58.3mn contract by Prasarana Malaysia Bhd for the construction and completion of LRT3 Package PC2. Mudajaya Group Bhd's power plant RKM Powergen Private Ltd has started to supply 200 MW power to several power distribution companies in Uttar Pradesh, India. HSS Engineers Bhd has proposed to transfer the listing and quotation of its entire issued and paid-up share capital from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd. Malaysian Resources Corp Bhd is looking at collaborating with Indian conglomerate Adani Group to develop multiple convention centres in India. Suria Capital Holdings Bhd has entered into a MoU with Taiwan International Ports Corporation Ltd to seek opportunities for business cooperation between them. Icon Offshore Bhd will supply a platform supply vessel to Halliburton Energy Services (M) Sdn Bhd for a contract sum of RM8mn. Voir Holdings Bhd is planning to raise between RM7.9mn and RM11.5mn via a private placement to fund its construction projects and for working capital. Amanah Harta Tanah PNB plans to acquire more assets this year to further bolster its financial performance despite the softer market sentiment. Denko Industrial Corp Bhd has been slapped with an unusual market activity query by Bursa Securities after the company's share price rose as much as 20% yesterday. Sasbadi Holdings Bhd has secured 3 contracts from the Ministry of Education to publish and supply Mathematics, Arts Education and Chinese Language textbooks worth a collective RM6.8mn. Ajiya Bhd said there is a RM4.2mn or 22.5% deviation in terms PATAMI between its unaudited and audited financial statements for the FY16 mainly due to dividend to minority interest of a subsidiary company amounting to RM2.9mn. Business services company Dun & Bradstreet Malaysia revealed its Business Optimism Index study shows that business sentiment in Malaysia rose marginally to 3.07 percentage points in 2Q17 from 1.65 percentage points in 1Q17. The Reserve Bank of Australia kept interest rates on hold at a record low of 1.5%. The US trade gap in goods and services fell 9.6% in February from a month earlier to a seasonally adjusted $43.56 billion as imports fell 1.8% while exports grew 0.2%. The European parliament voted to implement tough new palm oil resolutions, which if enforced would see its elimination from use in biofuels and stricter regulations on production and certification enforced throughout the continent. 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 : A daily stochastics buy signal supports further upside on Gadang to re-visit the 25/10/16 peak (RM1.35), with a convincing breakout to aim for the 123.6%FP (RM1.48) and 138.2%FP (RM1.56) ahead, while key retracement support is from the 76.4%FR (RM1.22). Bullish technical momentum on Mudajaya improves upside potential to test the 61.8%FR (RM1.17), while a confirmed breakout will target the 76.4%FR (RM1.28) and the 6/4/16 high (RM1.45) going forward, and good retracement support is found at the 38.2%FR (RM1.00). GADANG Upper Middle RM1.32 (+0.05) BOLLINGER BANDS RM RM 1.31 1.27 10-day 30-day RM 1.22 50-day Lower DMI Recent Signal BUY 1.17 Recent Signal SELL Signal Change MUDAJAYA Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 1.27 RM 1.22 BOLLINGER BANDS RM RM RM DMI RM1.10 (+0.07) 1.07 0.96 0.85 BUY SIMPLE MOVING AVERAGES RM 1.00 RM 0.93 RM 0.91 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 4