Daily Market Commentary

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
Monday, 06 July 2015
TA Research
e-mail : taresearch@ta.com.my
For Internal Circulation Only
KLSE Market Statistics (03.07.2015)
(mil)
Main Market 776.9
Warrants
388.1
ACE Market 290.6
Bond
0.6
ETF
0.1
Total
1,456.3
Off Market 277.0
Volume
+/-chg (RMmn)
-118.3 1,217.4
99.6
104.7
17.6
68.4
-0.2
0.2
-0.03
0.1
1,390.7
214.0
117.2
Value
+/-chg
-459.9
25.4
-27.8
0.0
-0.03
23.3
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
Value/
Volume
1.57
0.27
0.24
0.30
1.31
0.96
0.42
Review & Outlook
Up Down
219
348
38
57
34
50
2
3
2
1
295
459
% chg
% YTD chg
1,734.24
11,958.45
15,922.41
1,719.00
0.36
-12.46
-100.95
-6.00
0.02
-0.10
-0.63
-0.35
-1.53
-0.89
5.90
-1.83
17,730.11
5,009.21
6,585.78
20,539.79
2,104.41
26,064.11
3,342.73
1,489.59
4,982.91
3,686.92
2,098.48
5,538.29
0.00
0.00
-44.69
17.29
-2.92
-218.21
14.89
-2.03
38.13
-225.85
-117.34
-61.53
0.00
0.00
-0.67
0.08
-0.14
-0.83
0.45
-0.14
0.77
-5.77
-5.30
-1.10
-0.52
5.77
0.30
17.70
9.86
10.42
-0.67
-0.54
-4.67
13.98
48.28
2.35
Top 10 KLCI Based on Mkt Cap.
Off Market
(mn)
BJCORP-LC 211.2 @
PERDANA
29.4 @
XINQUAN-WA 10.0@
MERGE
8.2 @
KRETAM
8.0 @
ENGTEX
5.0 @
JETSON
2.0 @
MAYBANK
1.6 @
(RM)
0.20
1.55
0.06
0.37
0.35
1.15
0.43
9.24
Counter
TENAGA
MAXIS
DIGI
GENTING
IOICORP
KLK
GENM
TM
PETDAG
AMBANK
Mkt Cap.
(RM’mn)
71,561
47,907
42,996
30,786
26,794
23,898
24,041
25,742
20,664
18,115
Chg
(RM)
0.02
0.01
0.05
0.07
0.01
0.14
0.04
0.02
0.24
0.02
Vol.
(mn)
7.26
6.62
6.96
1.40
4.24
0.72
3.16
5.32
0.25
1.72
Given the steep ascent on the daily slow stochastics indicator for the FBM
KLCI after last week's sharp rebound, oversold momentum has been fully
neutralized and reversed into a short-term overbought situation, which
should force the index into profit-taking consolidation this week. Looking
ahead, a base building process would be healthy to anchor a sustained
recovery going forward.
On the index, overhead resistance is seen at 1,750, the 61.8% Fibonacci
Retracement (FR) level of the 1,660 low of 28/8/13 to the 1,896 record
high of 8/7/14, and next at the sliding 50-day moving average now at
1,768. Stronger resistance is at 1,778, the 50%FR, with the 100 and 200day moving averages jointly at 1,793 acting as tough hurdles. Immediate
supports underneath are at 1,721, the rising 10-day moving average,
followed by 1,700 and last Monday's low of 1,688, which matched the low
of 1/12/14, and then the 1,671 low of 17/12/14.
Stock-wise, blue chips such as Gamuda, IOI Corp, Maybank and Tenaga
may rebound further this week from oversold levels after the recent selldown, but telcos like DiGi.com, Maxis and TM may suffer further correction
due to weak chart patterns and sustained foreign selling pressure.
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Important Dates
EAH - 1:5 Bonus Issue - BI of 267.4m shares.
Ex-Date: 02/07/2015. Entitlement Date: 06/07/2015.
LISTING ON: 07/07/2015.
CCMDBIO - 1:1 Rights Issue - RI of up to 139.5m shares.
1 rights share for every 1 existing share held, at an issue price of
RM1.80 per rights share. Application Closed: 07/07/2015.
LISTING ON: 22/07/2015.
News Bites
Malaysia's May 2015 total exports shrank by a less-than-expected
6.7% YoY to RM60.5bn, helped by exports to China.
Tenaga Nasional Bhd has entered into a share sale and purchase
agreement with 1Malaysia
Development Bhd for the acquisition of a 70% shareholding in Jimah
East Power Sdn Bhd for RM47mn.
JAKS Resources Bhd has requested for a suspension of trading of its
securities next Monday (July 6), pending a material announcement.
Global Oriental Bhd plans to acquire the remaining 35% stake in Pewira
Nadi Trading Sdn Bhd for RM27mn cash to make the latter its whollyowned subsidiary.
Ho Hup Construction Co Bhd's joint development project on 24.28ha
in Bukit Jalil has wound down to a close.
TDM Bhd has proposed a private placement of new shares, which
may raise some RM91.9mn to finance the plantation company's
working capital needs.
Peterlabs Holdings Bhd has fixed the price of its private placement
shares at 19.5 sen each.
Borneo Oil Bhd, which is expected to commence gold mining activities
soon in a second area in Pahang, plans to invest an additional RM40mn
to step up its mining operations in the state.
Chin Well Holdings Bhd is ready to increase production of do-ityourself fasteners in Vietnam to spearhead the growth of the group's
business in 2016.
GUH Holdings Bhd is tendering for about RM1.6bn worth of water
and waste water treatment plant projects this year.
The services sector in China continued to expand in June, but at a
slower pace, the latest PMI from HSBC Bank showed.
Eurozone business activity hit a four-year high in June and retail sales
climbed further, pointing to sturdy economic growth in the second
quarter and beyond, despite the potential threat to business.
Greece voted against yielding to further austerity demanded by
creditors, leaving Europe's leaders to determine if the renegade nation
can remain in the euro.
Exchange Rate
RM/USD
3.7793 0.0060
YEN/USD
122.98 -0.5000
USD/EURO
1.11 0.0037
Commodities Futures
Palm Oil (RM/mt)2,273.00 4.00
Crude Oil ($/Barrel)56.93 0.43
Gold ($/tr.oz.)1,163.50
-1.70
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