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Tuesday, 17 October 2017

MIDF concern over #Geopolitical-issues #Price-retracements does not signify a change in the larger trend.


Malaysia: MIDF Research has introduced end 2018 FTSE Bursa Malaysia KLCI target of 1,900, higher than this year's target of 1,830.
The research house expects the market to see an uptrend next year albeit the concern over geopolitical issues, underpinned by continuous earnings expansion this year and next year.
"We reckoned that the expected volatilities in reaction to the slew of geopolitical news will provide an opportunity for investors to pick up value stocks with good earnings potential or generous dividend yield over price retracements, caused by overreaction from negative market sentiment," it said in a note.
Although there are concerns over potential capital flight, MIDF Research believes it will not result in major downward movement in the market.
"We believe fundamentals data eventually will find its way to convince investors that there is still value in investing in our market," it said.
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Monday, 16 October 2017

With most technical indicators deteriorating Consumer Price Index (CPI) especially #Food #Non-alcoholic-beverages


DESPITE the firmer external tone due to robust economic data, which is generally supportive of global growth, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was dragged lower last week by foreign selling on selected key blue chips.
On the other hand, while blue chips stayed in sideways trade, active rotational trading plays on penny small caps and ACE Market stocks with positive news flows highlighted active retail participation on the broader market.
For the week, the FBM KLCI slipped 8.68 points, or 0.49 per cent, to close at 1,755.32 as gains on Petronas Gas Bhd (+50 sen), Hong Leong Bank Bhd (+14 sen), and IHH Healthcare Bhd (+13 sen) were overshadowed by losses in British American Tobacco 
(-54 sen), Genting Bhd (-24 sen), Hong Leong Financial Group (-18 sen) and Genting Malaysia Bhd 
(-12 sen). Average daily traded volume and value surged to 3.26 billion shares worth RM2.01 billion, compared with the 2.45 billion shares and RM1.93 billion average the previous week as the average daily volume was fuelled by robust trading in penny stocks from retailers.
News flows from China and the United States could influence the financial markets this week. China will begin its 19th national congress on Wednesday, when our market is shut for the Deepavali holidays. President Xi Jinping, who should retain his position in this twice-a-decade political meeting, is expected to outline his party's key agenda for the next five years. This will have big implication on China and wider impact on the rest of the world.
To begin with, China's announcement of trade data for last month has started off on the right foot. It affirmed improved outlook for the economy and vindicated the International Monetary Fund's recent upgrade of its economic growth forecasts for China by 0.1 percentage point to 6.8 per cent and 6.5 per cent for this year and the next, respectively. The country's third-quarter gross domestic product, which will be released on Thursday, is expected to meet consensus growth forecast of 6.8 per cent.
On the US front, the Federal Reserve will release its Beige Book on Thursday. It will provide important indicators on the state of the US economy and influence the monetary policy decision.
Locally, the Consumer Price Index (CPI) for last month will be released on Friday. It should not deviate much from consensus expectations of 4.2 per cent year-on-year growth versus August's 3.7 per cent as the sustained double-digit expansion in Transport index should fuel pricing pressure on most other CPI components, especially food and non-alcoholic beverages.
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Friday, 13 October 2017

#BURSA Sector-wise, the #Plantation-Index surged #Industrial-Index rose #Finance-Index increased by.


Malaysia: Bursa Malaysia opened higher today on bargain hunting amid the mixed Asian markets' performances after a softer overnight Wall Street close due to unexciting US financial sector results, dealers said.
At 9.06 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.79 points to 1,755.79 from Thursday's close of 1,754.00.
The index opened two points higher at 1,756.00.
On the broader market, gainers outpaced losers by 142 to 60, with 229 counters unchanged, 1,429 untraded and 35 others were suspended.
Turnover stood at 247.27 million shares worth RM42.44 million.
In a note, Public Investment Bank said, the FBM KLCI was set to open flat today after global equities were mixed overnight while the euro dipped and a volatile ride for the pound saw it sinking after the European Union's Chief Negotiator for Britain Exit (Brexit) , Michel Barnier, said that talks on Brexit terms with the UK were at "deadlock”.
A four-session slide in the US dollar prompted by dovish comments from Federal Reserve policymakers stalled while US bank earnings failed to ignite Wall Street stocks, said the bank
Of the heavyweights, Maybank added one sen to RM9.54, TNB gained two sen to RM14.14, Petronas Chemicals rose four sen to RM7.37, Public Bank fell four sen to RM20.52 and Sime Darby eased five sen to RM8.99.
Among active counters, NetX Holdings and its warrant edged up half-a-sen each to 6.5 sen and 3.5 sen respectively, Prinsiptek Corp added two sen to 17.5 sen , Sumatek Resources eased half-a-sen to five sen while Borneo Oil was flat at 9.5 sen.
The FBM Emas Index added 8.54 points to 12,575.05, FBMT 100 Index gained 8.44 points to 12,220.15, FBM Emas Shariah Index surged 10.87 points to 12,861.12, the FBM Ace rose 24.11 points to 6,959.48 while FBM 70 fell 4.71 points to 15,205.24.
Sector-wise, the Plantation Index surged by 36.80 points to 7,981.17, Industrial Index rose 1.71 points to 3,214.35 and the Finance Index increased by 8.88 points better at 16,518.
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Thursday, 12 October 2017

Industrial Production Index & Purchasing Managers' Index probably slowed.

Image result for Industrial Output
Malaysia: Industrial output has probably slowed to 5.9 per cent in August from 6.1 per cent in July.
The Statistics Department will release the Industrial Production Index (IPI) data tomorrow.
Moody's, in a report, described manufacturing as doing well on the back of solid global tech demand and this was captured in the electrical and electronics (E&E) category.
"Stronger global demand for Malaysia tech components is flowing through improved domestic demand."
For instance, total employees engaged in manufacturing rose 2.9 per cent year-on-year in July and wages and salaries climbed by an impressive 11.3 per cent.
The near-term outlook has softened too, it added.
The Nikkei-Markit manufacturing Purchasing Managers' Index (PMI) dipped to 49.9 in September, from 50.4 in August, falling back below the neutral 50 that separates contraction from expansion.

"New business was down for a fifth straight month amid cooler domestic and foreign demand."

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Wednesday, 11 October 2017

#BURSA market action revealed that buying power was stronger than selling pressure.


Malaysia: Bursa Malaysia opened easier today but recovered thereafter tracking the better Asian markets' performances which took the cue from the stronger overnight Wall Street close, dealers said.
Wall Street pushed US indices to intra-day peaks overnight with Dow Jones closing at a record, indicating confidence in the US economy ahead the Federal Reserve minutes to be published later today.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.15 of a point to 1,761.28 from Tuesday's close of 1,761.13.
The index opened 0.01 of a point easier at 1,761.12.
On the broader market, gainers led losers by 148 to 75, with 206 counters unchanged, 1,422 untraded and 19 others were suspended.
Turnover stood at 166.78 million shares worth RM57.51 million.
In a note today, Alliance DBS Research said, the market saw selling activities yesterday as investors decided to take profit.
Yesterday's lower low was not something unusual because market had a tendency to fall following a rise in the absence of positive news, it said.
"Following the lower close, we should see selling attempt again with immediate support pegged at 1,758.
"However, the analysis of overall market action on Tuesday revealed that buying power was stronger than selling pressure. As such, FBMKLCI would likely trade above the 1,762.64 level today," it said.
The three major Wall Street indexes scaled record highs, helped by gains in energy stocks and a 4.5 per cent rise in shares of Wal-Mart on the back of the company's US$20 billion share buy-back plan.
The Dow Jones Industrial Average rose 69.61 points to close at 22,830.68, S&P 500 gained 5.91 points to 2,550.64 and the Nasdaq Composite added 7.52 points to 6,587.25.
Of the heavyweights, TNB rose four sen to RM14.28, Maybank eased two sen to RM9.52, Sime Darby shed four sen to RM9.10, while Public Bank and Petronas Chemicals were flat at RM20.56 and RM7.34 respectively.
Among active counters, Hibiscus Petroleum added one sen at 72.5 sen, Cuscapi improved half-a-sen to 34 sen, Trive Property gained 1.5 sen to 17.5 sen while Hubline and Trive Property warrant were flat at 14 sen and four sen respectively.
The FBM Emas Index added 9.92 points to 12,596.83, FBMT 100 Index gained 6.69 points to 12,242.46, FBM Emas Shariah Index increased 8.71 points to 12,886.58, the FBM Ace bagged 6.84 points to 6,804.31 and FBM 70 rose 29.43 points to 15,173.91.
Sector-wise, the Plantation Index expanded 20.04 points to 7,958.35 and the Industrial Index inched up 6.50 points to 3,234.51 as the Finance Index increased 11.12 points to 16,512.01.

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Tuesday, 10 October 2017

Following the higher close yesterday, we should see buying attempt again. #BURSA Index opened 3.34 point lower.


Malaysia: Bursa Malaysia opened lower today, tracking the mixed performances of its Asian peers which took the cue from the softer overnight Wall Street close.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.25 points to 1,760.74 from Monday's close of 1,764.03
The index opened 3.34 point lower at 1,760.69.
On the broader market, gainers led losers by 140 to 70, with 174 counters unchanged, 1,851 untraded and 21 others were suspended.
Turnover stood at 169.65 million shares worth RM49.99 million.
In a note today, Alliance DBS Research said the market closed higher at 1,765.48 yesterday but the benchmark index did not go far up as investors were basically cautious.
In the absence of positive news flow, the market was likely to stay volatile for a little while with the bulls and bears were expected to continue exchanging their positions in an attempt to fight for control of the game, it said.
"Following the higher close yesterday, we should see buying attempt again," it added
Of the heavyweights, Petronas Chemicals gained six sen to RM7.39, TNB fell two sen to RM14.22, Public Bank eased two sen to RM20.52, while Maybank and Sime Darby were flat at RM9.55 and RM9.12, respectively.
Among active counters, M3 Technologies and Hibiscus Petroleum added two sen each at 14 sen and 70.5 sen respectively, Malayan United industries gained one sen to 19 sen while Borneo Oil and Vivocom were flat at 9.5 sen and 14 sen, respectively.
The FBM Emas Index slipped 13.41 points to 12,580.86, FBMT 100 Index fell 13.80 points to 12,230.65 and FBM Emas Shariah Index declined 4.43 points to 12,850.31.
The FBM Ace rose 24.46 points to 6,785.41 and FBM 70 increased 16.88 points to 15,129.11
Sector-wise, the Plantation Index added 11.96 points to 7,927.26 and the Industrial Index inched up 3.24 points to 3,216.57.
The Finance Index decreased 47.89 points to 16,522.24.

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