Malaysia: Daily Market Commentary - 7 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 Friday, 07 July 2017 TA Research e-mail : taresearch@ta.com.my For Internal Circulation Only Review & Outlook KLSE Market Statistics (06.07.2017) (mil) Main Market 1,052.4 Warrants 170.9 ACE Market 299.7 Bond 30.9 ETF 0.0 Total 1,553.9 Off Market 41.8 Volume +/-chg (RMmn) 89.4 1,633.3 49.5 22.1 -94.3 80.3 20.9 9.9 0.00 0.0 1,745.5 27.9 184.4 Value +/-chg 68.5 -0.5 -19.0 6.5 0.01 170.4 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 (mn) 12.9 11.9 10.8 2.9 1.0 1.0 Up Down 252 372 68 79 37 53 3 4 2 0 362 508 % chg % YTD chg 1,770.53 12,631.75 17,481.54 1,768.00 2.37 5.46 -26.45 2.00 0.13 0.04 -0.15 0.11 7.85 10.16 18.80 8.10 21,320.04 6,089.46 7,337.28 19,994.06 2,387.81 25,465.22 3,226.34 1,569.64 5,849.58 3,212.44 1,914.59 5,758.76 -158.13 -61.39 -30.32 -87.57 -0.54 -56.75 -22.37 -5.38 24.52 5.31 1.45 -4.49 -0.74 -1.00 -0.41 -0.44 -0.02 -0.22 -0.69 -0.34 0.42 0.17 0.08 -0.08 7.88 13.12 2.72 4.60 17.83 15.75 12.00 1.73 10.44 3.51 -2.77 1.64 Top 10 KLCI Movers Based on Mkt Cap. Off Market SWSCAP SIME BIMB SEM BJASSET TOMYPAK Value/ Volume 1.55 0.13 0.27 0.32 1.16 1.12 4.41 @ @ @ @ @ @ (RM) 1.00 9.52 4.54 1.36 1.30 1.00 Exchange Rate USD/MYR 4.3001 0.0008 USD/JPY 113.26 -0.3800 EUR/USD 1.137 0.0045 Counter TENAGA SIME IHH CIMB MAXIS DIGI MISC GENM HLBANK YTLCORP Mkt Cap. (RM’mn) 80,018 64,812 59,744 57,200 42,986 38,953 33,166 32,650 28,969 15,592 Chg (RM) 0.02 0.02 0.09 0.04 0.03 0.01 0.03 0.10 0.15 0.01 Vol. (mn) 7.95 8.80 12.24 6.97 1.94 3.02 0.69 6.21 0.57 6.39 Commodities Futures Palm Oil (RM/mt) 2,533.00 13.00 Crude Oil ($/Barrel) 45.33 -0.28 Gold ($/tr.oz.) 1,224.70 -1.80 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. The local market stayed range bound Thursday as the cautious tone prevailed in line with the US Federal Reserve's FOMC meeting minutes and given the volatile oil prices. The KLCI added 2.37 points to again close at the day's high of 1,770.53, off an intra-day low of 1,765.75, as losers beat gainers 508 to 362 on moderate turnover of 1.55bn shares worth RM1.74bn. Sideways trading should persist with caution over the geopolitics in North Korea, choppy oil prices and dearth of positive domestic market leads dampening market tone. Immediate resistance stays at the 50-day moving average (1,773), then 1,782, followed by the recent peak of 1,796, and then the 1,800 psychological level. Better support is from the 100-day moving average at 1,750. Any further weakness in AirAsia shares towards the 100-day ma (RM3.07), with better support from the 76.4%FR (RM3.04), should attract bargain hunters looking for oversold rebound towards the June high of RM3.42, with strong resistance from the 16/5/17 peak (RM3.59). Likewise, selling dips in AirAsia X to the 50%FR (38sen) should encourage buying ahead of oversold rebound towards the 76.4%FR (44sen), with tougher upside hurdle from the Aug 2016 peak of 49.5sen. News Bites • • • • • • • • • • • • • • Tenaga Nasional Berhad has proposed to raise RM5bn in Islamic bonds that have a tenure of up to 50 years, to finance for capital expenditure, investment and related corporate purposes that are compliant with Syariah principles. Federal Land Development Authority not selling stake in Felda Global Ventures Holdings Berhad, says Chairman Tan Sri Shahrir Abdul Samad. Yinson Holding Bhd is currently evaluating three to six floating production storage and offloading projects within its existing operations in Africa and Asia. Dagang NeXchange Bhd has secured a project worth between RM50mn and RM75mn to supply up to 100 portable container systems for petroleum products. Tasco Bhd's investment in the global part distribution center at Kuala Lumpur International Airport's Free Cargo Zone is expected to expected to generate monthly revenue of RM4mn to RM5mn for the company. Hibiscus Petroleum Bhd, which proposed a private placement of up to 10% of its share capital in May to raise some RM65.0mn, is considering alternative fundraising avenue from financial institutions. AT Systematization Bhd is planning to consolidate its shares on the basis of three existing shares into one new share, which will reduce the number of its shares in the market and reduce the magnitude of fluctuation of its market capitalisation. Scomi Engineering Bhd is dragging government-owned Prasarana Malaysia Bhd to the court again to stop the latter from appointing a new party to supply the remainder six trains needed to complete the upgrade works under the Kuala Lumpur Monorail Fleet Expansion Project. CIMB-Principal Asset Management Bhd aims to raise RM300mn in sales from its newly-launched China Multi Asset Income Fund by yearend. Petroliam Nasional Bhd's unit has signed an EPCC contract with the Consortium of China Petroleum Pipeline Bureau and CPP Petroleum Engineering (M) Sdn Bhd for the development of additional olefins storage facilities within the Pengerang Integrated Complex. AirAsia Bhd is set to launch MyCorporate, a suite of products exclusively made for business travellers consisting of three bundle options, depending on the requirements of the traveller and company budget. Media Prima Bhd has appointed Tan Sri Ismee Ismail as its new chairman effective Aug 1 this year. Hiring at private U.S. employers slowed to 58,000 in June, lower than expected 180,000, potentially raising concerns about a weakening economy. ECB policy makers discussed how to signal their increasing confidence in the Eurozone economy at their June policy meeting, and considered dropping a pledge to accelerate their massive bond-buying program, according to the minutes. 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 : Buy Weakness in AirAsia & AirAsia X Any further weakness in AirAsia shares towards the 100-day ma (RM3.07), with better support from the 76.4%FR (RM3.04), should attract bargain hunters looking for oversold rebound towards the June high of RM3.42, with strong resistance from the 16/5/17 peak (RM3.59). Likewise, selling dips in AirAsia X to the 50%FR (38sen) should encourage buying ahead of oversold rebound towards the 76.4%FR (44sen), with tougher upside hurdle from the Aug 2016 peak of 49.5sen. AIRASIA RM3.15 (-0.03) Upper Middle BOLLINGER BANDS RM RM 3.41 3.25 10-day 30-day Lower RM 3.08 50-day SELL Recent Signal DMI Recent Signal 3.28 SELL Signal Change AIRASIA X Recent Signal Signal Change RM DAILY MACD Signal Change Upper Middle Lower SIMPLE MOVING AVERAGES RM 3.19 RM 3.19 BOLLINGER BANDS RM RM RM DMI RM0.40 (UNCH) 0.43 0.41 0.40 SELL SIMPLE MOVING AVERAGES RM 0.41 RM 0.42 RM 0.44 DAILY MACD Recent Signal BUY Signal Change 10-day 30-day 50-day Page 2 of 4