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R E T a I L M a R K E T M O N I T O R M a L a Y S MALAYSIA Retail Market Monitor Wednesday , 28 October 2015 MARKET NEWS FBMKLCI CHART The FBMKLCI plunged lower after falling 9.84pt to close at 1,696.95 yesterday, following massive selling pressure across the board amid an apparent weakness in the overnight US market. Meanwhile, Asian stocks fell amid low trading volumes, with the regional benchmark index retreating from its highest level in two months as energy shares led losses and investors awaited policy decisions by the Federal Reserve and the Bank of Japan later in the week. The MSCI Asia Pacific Index lost 0.4% to 135.84. The FBMKLCI’s top losers were Digi.Com (-4.16%), IOI Corporation (-2.47%) and Hong Leong Financial Group (-1.36%) while top gainers were British American Tobacco (+1.74%) SapuraKencana Petroleum (0.943%) and RHB Capital (+0.482%) In the broader market, losers outpaced gainers by 588 to 269 with 296 counters unchanged. Turnover was 1.89b shares valued at RM1.88b. On yesterday’s movement, the FBMKLCI plunged and penetrated the psychological level of 1,700 and closed lower at 1,696.95. Although looking shaky, the support levels Source: BursaStation were maintained as persistent buying interest absorbed selling pressure. Given the KEY INDICES weaker external market, the index may again test the immediate support which could pave way for a further downside to 1,685. We advise investors to approach the market Prev Close Chg (%) YTD (%) cautiously. Support and resistance levels still maintained as follows: DJIA 17,581.43 (0.24) (1.36) Support: 1,685, 1,595 S&P 500 2,065.89 (0.26) 0.34 FTSE 100 6,365.27 (0.81) (3.06) Resistance: 1,732, 1,745 CSI 300 3,592.88 0.10 1.67 FSSTI 3,052.53 (0.99) (9.29) US markets slipped for a second day in a row as investors were cautious ahead of the HSCEI 10,714.79 (0.31) (10.60) Federal Reserve’s policy statement. The S&P 500 fell 0.3% to close at 2,065.89 while HSI 23,142.73 0.11 (1.96) the DJIA dropped 0.2% to 17,581.43. The Fed’s two-day policy meeting began on JCI 4,674.06 (0.38) (10.58) Tuesday with a statement due Wednesday afternoon. Investors are bracing for whether KLCI 1,696.95 (0.58) (3.65) the central bank will hint at a December hike in interest rates. In economic news, KOSPI 2,044.65 (0.17) 6.74 Nikkei 225 18,777.04 (0.90) 7.60 durable-goods orders fell in September, marking a second straight drop amid softness in SET 1,424.05 (0.01) (4.92) manufacturing activity. Apple shed 0.6% to close at $114.55, ahead of its fiscal fourth- TWSE 8,701.32 (0.50) (6.51) quarter earnings after the market’s close. Shares rose in after-hours action after Apple BDI 739.00 (2.64) (5.50) topped forecasts for both profits and revenue. CPO (RM/mt) 2,322.00 1.89 2.47 Nymex Crude WHAT’S IN THE PACK (US$/bbl) 43.40 0.46 (27.00) British American Tobacco Leon Fuat (LEFU MK) TOP VOLUME (ROTH MK/HOLD/RM64.20/Target: Technical BUY with +24.0% potential return RM64.00) BUY with a target price of RM0.595 and Chg Vol stop-loss at below RM0.42. Share price Stock Price (RM) (%) (‘000) 3Q15: Net profit in line with Rgb International Bhd 0.17 0.00 58,360 expectations, up 6.5% yoy despite a 4% has been consolidating within the Instacom Group Bhd 0.25 (2.00) 29,342 yoy drop in sales due to margin immediate support of RM0.425 before China Automobile Parts 0.10 (9.09) 54,456 expansion from a hike in its ASP and yesterday’s positive closing above the BBI Xox Bhd 0.22 (2.22) 10,985 lower opex. to set a new tone for the short-term Berjaya Corp Bhd 0.44 (2.25) 11,210 outlook. Malaysia Airports Holdings TOP GAINERS (MAHB MK/BUY/RM5.37/Target: Muda Holdings (MUD MK) Price Chg Vol RM7.20) Technical BUY on breakout with 26.2% Stock (RM) (%) (‘000) R&A 0.02 200.00 32,509 3Q15: Strong earnings reversal as potential return BUY on breakout with a target price of Seremban Engineering 0.76 65.22 27,186 MAHB scales back on airline incentives. Nationwide Express 0.84 40.00 754 RM1.59 and stop-loss at below RM1.09. Es Ceramics 0.55 34.15 55,845 Yesterday, the share price formed a higher M3 Technologies Asia 0.14 21.74 100 high towards the breakout level of RM1.26 and managed to close above the BBI line TOP LOSERS to sustain the bullish momentum. Chg Vol Stock Price (RM) (%) (‘000) Press Metal (PRESS MK) D'Nonce Technology 0.22 (25.42) 1,460.6 Technical BUY on breakout with +28.5% Yen Global Bhd 0.21 (25.00) 1.0 potential return Asia Media Group Bhd 0.02 (20.00) 255.0 BUY on breakout with a target price of Abm Fujiya Bhd 0.38 (13.64) 36.5 RM3.11 and stop-loss at below RM2.12. A 1 Utopia Bhd 0.04 (12.50) 356.4 buying signal is given as the stock has Source: Bloomberg been trading above the Ichimoku cloud. www.utrade.com.my 1 MALAYSIA Retail Market Monitor Wednesday , 28 October 2015 TRADERS’ CORNER Leon Fuat (LEFU MK) Technical BUY with +24.0% potential return Last price : RM0.48 Target price : RM0.525, RM0.595 Support : RM0.425 Stop loss : RM0.42 BUY with a target price of RM0.595 and stop-loss at below RM0.42. Share price has been consolidating within the immediate support of RM0.425 before yesterday’s positive closing above the BBI to set a new tone for the short-term outlook. This is supported by the EMA 7-day which is currently on a crossover above the EMA 21- day that indicates a buying signal. We expect LEFU to continue making a new high towards our target. The bullish bias has been established following an uptick in the DMI and a bullish crossover in the MACD. Expected Timeframe: 2 weeks to 2 months Muda Holdings (MUD MK) Technical BUY on breakout with 26.2% potential return Last price : RM1.21 Target price : RM1.44, RM1.59 Support : RM1.10 Stop loss : RM1.09 BUY on breakout with a target price of RM1.59 and stop-loss at below RM1.09. Yesterday, share price formed a higher high towards the breakout level of RM1.26 and managed to close above the BBI line to sustain the bullish momentum. This is supported by the DMI’s bullish crossover and is consistent with the uptick in the RSI, which suggests stronger buying momentum ahead. Currently, the MACD is on the verge of making a golden cross to show a positive signal. We peg our targets at RM1.44 and RM1.59 in the short to medium term. Expected Timeframe: 2 weeks to 3 months www.utrade.com.my 2 MALAYSIA Retail Market Monitor Wednesday , 28 October 2015 TRADERS’ CORNER Press Metal (PRESS MK) Technical BUY on breakout with +28.5% potential return Last price : RM2.33 Target price : RM2.79, RM3.11 Support : RM2.13 Stop loss : RM2.12 BUY on breakout with a target price of RM3.11 and stop-loss at below RM2.12. A buying signal is given as the stock has been trading above the Ichimoku cloud. This is supported by the Heat Wave indicators - Tenkan-sen line, Kinjun-sen line and the Chikao span line – which are showing a bullish signal. An ascending triangle pattern has been spotted on the chart which indicates a bullish continuation pattern. The uptick in the DMI suggests buying momentum is set to continue in the near term. Currently, the MACD shows a bullish crossover to support the upward momentum. We expect the bullish movement will continue towards our targets once it penetrates the breakout level of RM2.42. Expected Timeframe: 2 weeks to 3 months www.utrade.com.my 3 MALAYSIA Retail Market Monitor Wednesday , 28 October 2015 CORPORATE NEWS KNM: Clinches RM268.4m Cypark contract. KNM Group Bhd’s wholly-owned subsidiary, KNM Process Systems Sdn Bhd, has signed an agreement with Cypark Sdn Bhd worth RM268.38mil to undertake engineering, procurement, construction and commissioning (EPCC) works. The deal was inked via SHK Consortium, the consortium formed between KNM Process Systems and Japan’s Hitachi Zosen Corp. (Source: The Star) RHB Bank: To cut 1,812 staff, pay out RM309m. The RHB Banking Group will trim its workforce by 1,812 and will have to fork out an estimated RM309mil under the voluntary separation scheme. The country’s fourth largest financial services group said in a statement that it had approved the applications of 1,812 employees under the Career Transition Scheme (CTS), which was completed on Sept 30. This represents 13.1% of its permanent workforce in Malaysia. “The group expects to achieve an annual personnel costs rationalisation of approximately RM193mil,” it added. (Source: The Star) Seremban Engineering: Issued UMA. Seremban Engineering Bhd, which saw its share price surge more than 65% to a 52-week high today, has been slapped with an unusual market activity (UMA) by Bursa Malaysia, to explain the reason behind the sharp rise in price and volume. In the UMA query today, Bursa asked SEB if there was any corporate development, business negotiation rumour or report, or any other possible explanation that could account for the sharp rise in its volume.
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