R Etail M Arket M Onitor MALAYSIA
Total Page:16
File Type:pdf, Size:1020Kb
M A L A Y S I A Retail Market Monitor Monday, 1 9 September 2 0 1 6 MARKET NEWS FBMKLCI CHART The FBMKLCI dropped 8.40pt (-0.5%) to close at 1,652.99 last Thursday. Me anwhile, Asian stocks fell for the sixth day, the longest losing streak since May, amid an uncertain outlook in global central banks’ stimulus. Japanese banks sank on conc ern the country will deepen its negative interest rate policy. The MSCI Asia Pacific Index lost 0.4% to 136.08. The gauge is trading at the lowest level in five weeks after valuations this month reached the highest in more than a year and investors placed a higher probability of less monetary stimulus globally. The FBMKLCI’s top losers were Maxis (-2.1%), Genting Malaysia (-1.8%) and IOI Corporation (-1.8%) while the top gainers were Hong Leong Financial Group (+2.7%), YTL Corporation (+0.6%) and Public Ban k (+0.2%). In the broader market, gainers outpaced losers 397 to 369 with 385 counters unchanged. Turnover was 1.33b shares valued at RM2.32b. Negative follow-through sent the index plunging on the back of a weaker ringgit against the US dollar. The FBMKLCI breached the previous immediate support at 1,6 60 and Source: Bursa Station closed lower at 1,652.99 last Thursday. The RSI continues to point lower, suggesting KEY INDICES selling pressure is here to stay, and approaching the oversold territory. We expect the Chg Prev Close YTD (%) index to retest the immediate support level of 1,648 in the near term. Support and (%) resistance levels are revised as follows: DJIA 18,123.80 (0.49) 4.01 S&P 500 2,139.16 (0.38) 4.66 Support: 1,648, 1,640 FTSE 100 6,710.28 (0.30) 7.50 CSI 300 3,238.73 (0.66) (13.19) Resistance: 1,692, 1,700 FSSTI 2,827.45 0.78 (1.92) On Friday, US stocks closed lower as the possibility of a US$14b fine against Deutsche HSCEI 9,595.73 0.56 (0.68) HSI 23,335.59 0.63 6.49 Bank weighed on big bank s and investors wrestled with lingering uncertainty about when JCI 5,267.77 0.04 14.69 the Fed will hike interest rates. The DJIA lost 88.68pt, or 0.49%, to settle at 18,123.80 KLCI 1,652.99 (0.51) (2.33) while the S&P500 edged lower by 8.1pt, or 0.38% to 2,139.16. The US Justice KOSPI 1,999.36 0.40 1.94 Department is seeking a US$ 14b civil settlement with Deutsche Bank over the German Nikkei 225 16,519.29 0.70 (13.21) financial institution's alleged role in artificially propping up the US housing market in the SET 1,479.07 1.07 14.83 lead up to the Great Recession. Meanwhile, Deutsche Bank said that it has no intent to TWSE 8,902.30 (0.43) 6.77 settle these potent ial civil claims anywhere near the number cited. Declining issues BDI 800.00 4.71 67.36 CPO (RM/mt) 2,565.00 1.26 3.22 outnumbered advancing ones on the NYSE by a 1.79-to-1 ratio. Nymex Crude WHAT’S IN THE PACK (US$/bbl) 43.46 1.00 1.38 Tenaga Nasional Ancom (ANC MK) TOP VOLUME (TNB MK/BUY/RM14.54/Target: RM16.00) Technical BUY on breakout with +20.5 % IBR alongside a periodical ICPT potential return Price Chg Vol mechanism will help ins ulate TNB from BUY on breakout with a target price of Stock (RM) (%) (‘000) Sanichi Technology 0.09 12.50 48,541 RM0.47 and stop-loss at RM0.345. Based sharp spike in coal prices. SterlingBhd Progress Bhd 0.04 0.00 35,979 on the daily chart, ANC tried to penetrate Lb Aluminium Bhd 0.71 13.60 30,607 the breakout level a t RM0.39 and managed Sp Setia Bhd Group 3.23 (0.92) 28,162 to close above the BBI line last Thursday. Connectcounty 0.13 8.70 23,405 Holdings Bhd Eversendai Corporation (EVSD TOP GAINERS MK) Price Chg Vol Technical BUY on breakout with +37.6 % Stock (RM) (%) (‘000) potential return Palette Multimedia 0.07 27.2 5,637 WattaBhd Holdings Bhd 0.45 16.87 80 BUY on breakout with a target price of Bio Osmo Bhd 0.04 14.28 550 RM0.695 and stop-loss at RM0.41. Last Choo Bee Metal 2.12 13.99 1,013 Thursday, the stock close d above the BBI LbIndustries Aluminium Bhd Bhd 0.71 13.68 30,607 line, indicating upward potential in the near 0 term. TOP LOSERS Price Chg Vol CAM Resources (CAM MK) Stock (RM) (%) (‘000) Technical BUY on breakout with +27.5 % Pan Malaysia 0.22 (15.69) 553.1 potential return XidelangHoldings HoldingsBhd Ltd 0.03 (14.29) 1,560.0 BUY on breakout with a target price of Compugates Holdings 0.04 (12.50) 1,234.9 RM0.44 and stop-loss at RM0.295. Based YfgBhd Bhd 0.04 (12.50) 15.0 on the daily chart, CAM’s upsid e trend is Globaltec Formation 0.04 (11.11) 845.9 Source:Bhd Bloomberg intact if the stock can penetrate the RM0.345 level. www.utrade.com. m y 1 M A L A Y S I A Retail Market Monitor Monday, 1 9 September 2 0 1 6 TRADERS’ CORNER Ancom (ANC MK) Technical BUY on breakout with +20.5 % potential return Last price : RM0.385 Target price : RM0.455, RM0.47 Support : RM0.35 Stop-loss : RM0.345 BUY on breakou t with a target price of RM0.47 and stop-loss at RM0.345. Based on the daily chart, ANC tried to penetrate the b reakout level at RM0.39 and managed to close above the BBI line last Thursday. Aggressive traders can buy at the breakout level of RM0.39 and set the short-term target at RM0.455. Currently, the DMI shows buying momentum has overcome selling momentum. This is supported by an uptick in the RSI, indicating the positive momentum will strengthen in the near term. Expected time frame: 2 weeks to 2 months. Eversendai Corporation (EVSD MK) Technical BUY on breakout with +37.6 % potential return Last price : RM0.47 Target price : RM0.625, RM0.695 Support : RM0.415 Stop-loss : RM0.41 BUY on breakout with a target price of RM0.695 and stop-loss at RM0.41. Last Thursday , the stock closed above the BBI line, indicating upward potential in the near term. This is supported by the 7-day EMA which has crossed above the 21-day EMA , indicating a bullish signal. This is consistent with the uptick in the RSI and a bullish crossover in the MACD, which suggest stronger buying momentum ahead. Currently, the DMI is on the verge of making a golden cross to the positive signal. We peg our target prices at RM0.625 and RM0.695 in the near term. Expected time frame: 2 weeks to 2 months. www.utrade.com. m y 2 M A L A Y S I A Retail Market Monitor Monday, 1 9 September 2 0 1 6 TRADERS’ CORNER CAM Resources (CAM MK) Technical BUY on breakout with +27.5 % potential return Last price : RM0.335 Target price : RM0.395, RM0.44 Support : RM0.30 Stop-loss : RM0.295 BUY on breakout with a target price of RM0.44 and stop-loss at RM0.295. Based on the daily chart, CAM’s upside trend is intact if the stock can penetrate the RM0.345 level. Positive r eadings from the RSI show buying momentum has overcome selling momentum. This is supported by a bullish crossover in the DMI and the MACD. We peg our targets at RM0.395 and RM0.44 in the near term. Expected time frame: 2 weeks to 2 months. www.utrade.com. m y 3 M A L A Y S I A Retail Market Monitor Monday, 1 9 September 2 0 1 6 CORPORATE NEWS AEON Co: Sees encouraging signs post-GST, confident of growth. Aeon Co (M) Bhd expects the second half of this year and 2017 to remain challenging, but it remains confident of charting business growth for the group. Speaking to reporters at a briefing today, Aeon executive director Poh Ying Loo said although consumer sentiment remains weak, the impact of the goods and services tax (GST) — implemented in April 2015 — has lessened, compared with a year ago. "The second half and next year will still be challenging. However, we see some encouraging signs, post- GST. There will definitely be growth [for the company]," he said. Poh said Aeon has no plans to retrench staff or close any of its malls, despite the challenging times ahead. (Source: The Edge Financial Daily) AirAsia: May advance aircraft deliveries to meet strong market demand . AirAsia Bhd is short of "eight to nine" aircraft until 2017 as it strives to meet market demand for its services by advancing aircraft deliveries, said the low cost carrier's f ounder Tan Sri Tony Fernandes. In a reception ceremony for the airline's first Airbus A320neo, the AirAsia Group chief executive officer told the press that the group is likely to advance its aircraft orders to meet these demand. "The demand is very strong , AirAsia is probably having its best growth in a lot of time. All of the countries that we operate in are reporting significant growth.