KLCI Daily Report - 29 July 2016

Market Review for KLCI:

The FBM KLCI index gained 2.14 points or 0.13% on Thursday. The Finance Index increased 0.46% to 14240.53 points, the Properties Index up 0.07% to 1162.38 points and the Plantation Index rose 0.20% to 7578.84 points. The market fluctuated between a high of 1659 and low of 1652 throughout the trading session on Thursday. The KLCI inched up and closed marginally higher at 1659.56 points with last minute spike despite overnight mixed performance in US market. The performance of our local bourse was lifted by buying interest in heavy weight counters such as CIMB, Genting and Sapurakencana Petroleum.

Market forecast for KLCI:

The FBMKLCI opened at the level of 1658 on Thursday and closed in the red at level of 1658. The trading session on Thursday saw a low of 1652;
The market traded within a range of 5.52 points between an intra-day high of 1664.76 and a low of 1659.24 during the session.
Market continued giving consolidation in today’s trading session. U.S. Federal Reserve meeting results was declared leaving on the table the option of an interest rate cut before the end of the year. Friday being the last trading day of the month traders would remain cautious and would like to start fresh in the coming month. Market is expected to test the support level at 1647 and could further down to the level of 1637.

KLCI COUNTER SPECIFIC NEWS :

• Muhibbah Engineering (M) Bhd's (MEB) joint venture with Lembaga Tabung Angkatan Tentera (LTAT) has won a lawsuit against the Malaysian government, initiated for claims outstanding from the completed Sepangar Naval Base project in Sabah. In a stock exchange filing yesterday, MEB said the joint venture company, Muhibbah–LTAT JV Sdn Bhd, has been awarded RM13.97 million.
• RHB Asset Management Sdn Bhd (RHB AM), an entity of RHB Banking Group, has entered into a strategic partnership agreement with New York-based Neuberger Berman (NB) to leverage on each other’s core capabilities, experience and expertise.
• Datasonic Group Bhd expects to see double-digit growth in net profit and revenue for its financial year ending March 31, 2017 (FY17) and 2018 (FY18), driven by its strong order book, as well as new contracts. “We have secured RM806 million worth of contracts in the last six months.
• Kerjaya Prospek Group Bhd has been awarded a construction contract for RM338.8 million.

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KLCI Daily Report - 28 July 2016

Market Review for KLCI:

The FBM KLCI index gained 2.14 points or 0.13% on Wednesday. The Finance Index increased 0.46% to 14240.53 points, the Properties Index up 0.07% to 1162.38 points and the Plantation Index rose 0.20% to 7578.84 points. The market fluctuated between a high of 1666 and low of 1660 throughout the trading session on Tuesday. The KLCI inched up and closed marginally higher at 1663.56 points with last minute spike despite overnight mixed performance in US market. The performance of our local bourse was lifted by buying interest in heavy weight counters such as CIMB, Genting and Sapurakencana Petroleum.

 

Market forecast for KLCI: 

The FBMKLCI opened at the level of 1661 on Wednesday and closed in the red at level of 1663. The trading session on Wednesday saw a low of 1659; The market traded within a range of 5.52 points between an intra-day high of 1664.76 and a low of 1659.24 during the session.

Market continued moving side ways as the two day U.S. Federal Reserve's meeting started on Tuesday is supposed to end today and the results are anticipated later in the night along with Bank of Japan meeting supposed to happen on coming Friday. Traders would be cautious and eagerly waiting for the results as it would decide the entry of majority of traders in the coming trading session. Market is expected to test the resistance level of 1668 and could go up to the level of 1674 in the coming session.

KLCI COUNTER SPECIFIC NEWS :

• MyHSR Corporation Sdn Bhdhas selected CH2M as its technical adviser for the iconic cross-border project, Kuala Lumpur–Singapore High-Speed Rail (HSR). 
• The board of directors of 1Malaysia Development Bhd (1MDB) said it is replacing the state-owned strategic development fund's auditor and has advised against relying on its 2013 and 2014 financial statements pending findings of a court of law in the United States.
  WCT Bhd, through a joint venture (JV) with KKB Engineering Bhd, has clinched a RM1.29 billion contract for phase one of the Pan Borneo Highway project from Lebuhraya Borneo Utara Sdn Bhd. KKB's shares closed lower by 1.8% or 3 sen to RM1.62 yesterday, while WCT was up 1.9% or 3 sen to close at RM1.58. 
• AWC Bhd’s wholly-owned subsidiary M&C Engineering and Trading Sdn Bhd has been appointed subcontractor for RM12.67 million worth of jobs for an education hub located in Cyberjaya. 
• Ekuiti Nasional Bhd (Ekuinas), the government-linked private equity fund management company, yesterday announced its entry into the retail sportswear business, with the acquisition of a 35% stake in bumiputera sportswear retailer, Al-Ikhsan Sports Sdn Bhd (Al-Ikhsan) for RM68.6 million.

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KLCI Daily Report - 27 July 2016

Market Review for KLCI:

Top Losers
Scrip Name	CMP	%change
THETA	0.305	-15.28
TIMWELL	0.61	-11.59
CCB	3.26	-6.32
MENANG	0.81	-5.81
MBWORLD	1.21	-5.47

The FBM KLCI index lost 6.84 points or 0.41% on Tuesday. The Finance Index fell 0.18% to 14175.85 points, the Properties Index dropped 0.29% to 1161.52 points and the Plantation Index down 0.48% to 7563.36 points. The market fluctuated between a high of 1666 and low of 1660 throughout the trading session on Tuesday. The KLCI extended its mid-day losses by ending lower at 1661.42 points amid overnight losses in US market. The performance of our benchmark index was bogged down by selling in heavyweight counters such Genting, KLCC and SapuraKencana.

Market forecast for KLCI:

The FBMKLCI opened at the level of 1666 on Tuesday and closed in the red at level of 1661. The trading session on Tuesday saw a low of 1660; The market traded within a range of 6.48 points between an intra-day high of 1666.99 and a low of 1660.51 during the session. 

Market moved side ways as the two day U.S. Federal Reserve's meeting started on Tuesday along with Bank of Japan supposed to happen on coming Friday. Fed meeting had an impact on the market as traders would be cautious before entering the market and would wait for the results to be announced. Expecting less movement in the market it could breach the support level of 1657 and come down to the level of 1647. 

KLCI COUNTER SPECIFIC NEWS:

• Bank Islam Malaysia Bhd has inked an agreement with Perbadanan Wakaf Selangor subsidiary Urus Maju Ehsan (M) Sdn Bhd (UME) to provide RM15.5 million in financing for two waqf land development projects in Klang, Selangor.
• Felda Global Ventures Holdings Bhd (FGV) saw its share price surge 5.06% yesterday after news of it aborting plans to acquire a stake in Indonesia's PT Eagle High Plantations Tbk.
• YTL Corp Bhd has proposed to take its information technology unit, YTL e-Solutions Bhd, private at 55 sen per share through a voluntary share exchange offer. This will enable YTL e-Solutions shareholders to exchange their stake in the company for shares in YTL Corp.
• Wah Seong Corp Bhd’s order book replenishment rate despite the US$18.23 million (RM73.87 million) pipe shipping and related services contract win.

 
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KLCI Daily Report - 26 July 2016

Market Review for KLCI:

Top Losers
Scrip Name	CMP	%change
KBES	0.28	-13.85
HOOVER	0.41	-10.87
AJIYA	3.74	-9.44
LIONFIB	0.53	-9.4
MENANG	0.86	-6.01

The FBM KLCI index lost 0.12 points or 0.01% on Friday. The Finance Index fell 0.34% to 14101.64 points, the Properties Index up 0.31% to 1164.95 points and the Plantation Index down 0.11% to 7574.5 points The market fluctuated between a high of 1668 and low of 1657 throughout the trading session on Monday. The KLCI ended the week on a negative note, closed lower at 1657.42 points amid overnight losses in Wall Street. Our benchmark index was dragged down by losses in heavyweight counters such as Genting Malaysia and Maxis.

Market forecast for KLCI:

The FBMKLCI opened at the level of 1657 on Monday and closed in the green at level of 1668. The trading session on Monday saw a low of 1657;

The market traded within a range of 7.86 points between an intra-day high of 1659.76 and a low of 1651.90 during the session.

Market gained momentum and bounced back on the first day of the week compared to last weeks trading sessions. Market is expected to test the resistance level of 1674 and if the bulls continued to dominate the market it might go further up to the level of 1685. On the other side if it breaches the support level of 1651 it might go down to the level of 1642.

KLCI COUNTER SPECIFIC NEWS :

• Bison Consolidated Bhd’s wholly owned subsidiary Otaru Fine Food Sdn Bhd is acquiring a piece of land in Rawang, Selangor, for RM6.75 million to construct its food processing centre.
• RHB Bank Bhd aims to achieve a 30% increase in new customers in the premier segment by year-end, from existing base of under 30,000, driven by RHB Premier.
• Kronologi Asia Bhd (KAB) plans to buy the remaining 80% stake in Quantum Storage (India) Pte Ltd (QSI) from Quantum Storage (India) Ltd (QSIL) for up to RM26 million, to increase its market presence in India.
• Construction of the RM12 billion Jimah East Power (JEP) plant has kicked off with a concrete pouring ceremony in Jimah, Port Dickson, Negri Sembilan.
• Bumi Armada Bhd and India’s Shapoorji Pallonji and Co Pte Ltd are teaming up to bid for contracts in the floating production, storage and offloading (FPSO) vessel business.
• Wah Seong Corp Bhd’s pipe coating unit has been further awarded a RM73.87 million contract from Statoil ASA Norway to provide pipe shipping and related services for the Johan Sverdrup Export Pipeline Project. 
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Weekly Technical View on KLCI - 25 July 2016

Weekly Wrap of KLCI

In the entire week the market breath was negative. It closed in the green on Monday followed by four red candles. On the last day of the week market gained little momentum observing little recovery in the counters. US allegations of massive fraud at state investment fund 1MDB wherein US authorities moved to seize more than $1bn (£761m) in assets related to the fund has been the major reason of the market being bearish.

Forecast for week ahead:

The FBMKLCI opened at the level of 1656 on Friday and closed in the red at level of 1657. The trading session on Friday saw a low of 1651; The market traded within a range of 7.86 points between an intra-day high of 1659.76 and a low of 1651.90 during the session.


In the coming week market could complete its rounding bottom pattern and if it happens it is expected to test the resistance level of 1671 and could go upto the level of 1689. On the other side if the market breaches the support level of 1648 it might go further down to the level of 1638. In the coming days traders would remain cautious regarding the 1MDB issue and would trade accordingly.

Technical indicators:

RSI for this week is 48.954 with CCI at -12.311 Besides, difference line of MACD -8.158.

Counter-Specific News:

•     The KL118 skyscraper project, also known as Menara Wawasan, is ongoing, said UEM Group Bhd chairman Tan Sri Ahmad Tajuddin Ali.
•     Dancomech Holdings Bhd, which made its debut on the Main Market of Bursa Malaysia yesterday, is eyeing sales growth of up to 20% in the next three to five years, pinning its hopes on a recovery in prices of crude palm oil (CPO) and oil and gas (O&G) going forward.
•     Scomi Engineering Bhd yesterday issued a notice of arbitration against Prasarana Malaysia Bhd to resolve the dispute between them in relation to the termination of the RM494 million Kuala Lumpur monorail fleet expansion project.
•     Petroliam Nasional Bhd (Petronas) awarded a production sharing contract (PSC) to PTTEP HK Offshore Ltd, KUFPEC Malaysia (SK-410B) Ltd, and Petronas Carigali Sdn Bhd for exploration Block SK410B at a signing ceremony yesterday.
•     Malayan Banking Bhd (Maybank) expects lower double-digit growth in its credit card billings and receivables this year as consumers are more prudent on spending. It aims to maintain a 15% growth in its credit card base this year.
•     Mercedes-Benz Malaysia Sdn Bhd delivered a record 6,017 cars to customers in the six-month period ended June 2016, registering a growth of 17% compared with the same period last year.

Global factors and World Indices:

•     Hong Kong shares finished down on Friday as Asian shares slid after weak corporate earnings halted Wall Street's record run. Hang Seng index fell 0.2 per cent, to 21,964.27, while the China Enterprises Index lost 0.3 per cent, to 9,031.93 points.
•     Tokyo shares closed lower Friday as a rebounding yen hit exporters, but Nintendo rose again as the hugely popular Pokemon Go app launched in Japan, its home market. Nikkei 225 index fell 1.09 per cent, or 182.97 points, to close at 16,627.25
•     Asian stocks pulled back from an eight-month high and the yen held gains as prospects for central bank stimulus cooled in Japan. Malaysia's ringgit fell to this month's low, while the yuan strengthened.
•     The Dow's six-day streak of records ended Thursday as US stocks tumbled, pulled down in part by disappointing earnings reports from Dow members Intel and American Express.
•     Gold headed for a second weekly decline as investors weighed comments from the European Central Bank and the Bank of Japan on the outlook for stimulus measures.
•     Oil prices were lower on Thursday and markets were relatively quiet as investors showed caution due to persistent global oversupply.
•     Crude dropped a dollar to US$44.75 a barrel.
•     Brent was down 97 US cents at US$46.20 a barrel.

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KLCI Daily Report - 21 July 2016

Market Review for KLCI:

Top Losers
Scrip Name	CMP	%change
SWSCAP	1.15	-10.85
MENANG	0.97	-5.83
MCT	1.14	-5
SCABLE	1.35	-4.26
GENTING	8.68	-3.88

The FBM KLCI index lost 12.07 points or 0.72% on Thursday. The Finance Index fell 0.86% to 14149.76 points, the Properties Index dropped 0.46% to 1161.35 points and the Plantation Index down 0.24% to 7583.1 points. The market fluctuated between a high of 1663 and low of 1657 throughout the trading session on Thursday. The KLCI closed lower at 1657.54 points, despite overnight gains in Wall Street. Market breadth was negative as investors sentiment turned cautious on domestic issues.

Market forecast for KLCI:

 The FBMKLCI opened at the level of 1661 on Thursday and closed in the red at level of 1669. The trading session on Thursday saw a low of 1657;

The market traded within a range of 6.45 points between an intra-day high of 1663.99 and a low of 1657.54 during the session. Market continued the bearsih streak on the third consecutive day Market is expected to breach the support level of 1652 and could further go down to the level of 1643. US allegations of massive fraud at state investment fund 1MDB wherein US authorities moved to seize more than $1bn (£761m) in assets related to the fund happens to be the major reason for the market going down.

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KLCI Daily Report - 20 July 2016

Market Review for KLCI:

Top Losers
Scrip Name	CMP	%change
QUALITY	1.37	-7.43
SGB	0.63	-7.35
TGL	1.3	-7.14
MICROLN	1.4	-6.67
KEN	0.89	-6.32

The FBM KLCI index lost 0.94 points or 0.06% on Wednesday. The Finance Index increased 0.01% to 14272.57 points, the Properties Index up 0.21% to 1166.7 points and the Plantation Index rose 0.11% to 7601.07 points. The market fluctuated between a high of 1669 and low of 1664 throughout the trading session on Wednesday. The KLCI extended its mid-day losses by ending lower at 1669.61 points, amid overnight mixed performance in Wall Street. Our benchmark index was dragged down by losses in heavyweight counters such as YTL Corp and Maxis.  

Market forecast for KLCI:
 

The FBMKLCI opened at the level of 1669 on Wednesday and closed in the red at level of 1669. The trading session on Wednesday saw a low of 1664; The market traded within a range of 5.79 points between an intra-day high of 1669.80 and a low of 1664.01 during the session. Market closed lower than the previous day and in the coming trading session it is expected to breach the resistance level of 1674 and go upto the level of 1684. On the other side if it tests the support level of 1660 it could cross the level and go further down to the level of 1651.

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