Klse Malaysia Stocks To Watch Next Week- 21 Jan to 27 Jan

Market Wrap Up: Last week Bursa Malaysia index traded with lack of volume but trade higher to end the week on positive notes. Last week was mainly active for stocks which were in news. The share of MYEG raised earlier start of the week after news that it gets a renewal of courier service license; other actives included BUMI ARMADA BHD which raised on news that debt refinancing talks can result in a positive outcome and it not default on the loan.

FBM KLCI index closed 1692.22 up +9.17 (+0.54%) higher vs. previous weekly close of 1683.22. Market sentiments were positive tracking global markets and rise in Crude oil prices, China’s extra stimulus news.

Week’s top performing stocks were HEIM, CARLSBG, UTDPLT, and HTPADU while top losers were CHINTEK, LYSAGHT, MUHIBAH, and ATURMJU.

Sector-wise, the Finance Index up points to 17,528.25, the Plantation Index rose 83.40 points to 7,201.04, but the Industrial Products and Services Index each erased 1.21 points. In coming week index can trade higher to test 1700 and even above this to 1715.

SCOMI GROUP BHD (Code: 7158)

Company Overview:

Scomi Group Bhd, a global service provider mainly in the oil and gas industry, is a company listed on the Main Market of Bursa Malaysia. Other public listed companies within Scomi Group are Scomi Engineering Bhd and Scomi Marine Bhd which are listed on Bursa Malaysia, and PT Rig Tenders which is listed on Jakarta Stock Exchange. Scomi Group has been spearheading expansion in the emerging markets of Brazil, India, Gulf States, and China.

Latest News:

Scomi Group Bhd’s sub-subsidiary Urban Transit Private Limited (UTPL) have each received demand notice from India’s Axis Bank Limited for 624.63 million rupee (RM36.15 million) due to failure by UTPL (as borrower) and SEB (as guarantor) to pay under the bank facilities granted to UTPL. The company said it will not have any business, financial and operational impact of the default.

Outlook:

Stock can witness selling pressure from upside due to this negative news but the company has to give a clarification that it does not have any financial impact which is positive for the stock price. Stock can trade in a range of 0.045 to 0.080.

BERJAYA CORPORATION BHD (Code: 3395)

Company Overview:

Berjaya Corporation Berhad, an investment holding company, engages in the provision of financial services; investment, development, rental, and management of properties; and marketing of consumer products and services in Malaysia and internationally. The company also designs, constructs, and operates sanitary landfill; operates hotels, casinos, resorts, restaurants, golf and recreation clubs, bookstores, and private university and international schools; manufactures and sells garments and knitted fabrics; owns and operates Car lovers Carwash, Roadhouse Grill Restaurant, and Kenny Rogers Roasters Restaurant chains.

 Latest News:

Berjaya Corp Bhd (BCorp) has proposed collaboration with SAIC Motor Corp Ltd’s unit to manufacture, assemble and sell British car marque, Morris Garages (MG) in Malaysia. The company signed MOU with SAIC Shanghai-listed arm SAIC Motor Corp Ltd.

Outlook:

Price can trade in the range of 0.275-0.300 more upside only above if trades above 0.300.

MESINIAGA BHD (Code: 5011)

Company Overview:

Mesiniaga Berhad, together with its subsidiaries, provides information technology products and related services in Malaysia. The company offers cloud computing solutions, including infrastructure-as-a-service, platform-as-a-service, software-as-a-service, backup-as-a-service, and disaster recovery-as-a-service; maintenance services; managed services comprising server infrastructure, cloud and application, end-user computing, and network management services; network services; and cybersecurity solutions.

 Latest News:

Mesiniaga Bhd has received accepted an RM1.9 billion contract from Xiddig Cellular Communications Sdn Bhd for the commissioning of distribution and access network with related support systems for the EM-IIG project. This contract has a positive impact on financial results and EPS.

Outlook:

The stock is not liquid as other but can rise with this news to the level of 1.240- 1.250.

Silver Facing Resistance At $15.80 Near Descending Trend Line Breakout Of Which Can Spurt Prices

Fundamental News & Impact

Last week precious metal saw spectacular price move silver rose almost 2.48% and close around $15.67. Friday’s NFP (Non-Farm payroll) and unemployment rate data came below than consensus. US manufacturing PMI came at 54.1 below estimates 57.7.

Fed chairman Powell’s dovish comments for a future rate hike will depend on market condition and now near status quo situation further.

This push dollar index lower and safe heaven precious assets like Gold and Silver rose sharply. Gold mostly traded positive near $1300 mark.

Most investment bank firms and hedge fund houses have raised their target and hold a positive outlook on precious metal for the year 2019.

US president’s comments on government partial shutdown and the US & China trade war-related news also have an impact on Dollar strength.

Silver which is considered to be correlated to Gold underperforming quite some time which can be accessed by their percentage return for the same time span.

  Daily Weekly 1Month 1Year
Gold -0.45% 0.06% 2.52% -2.10%
Silver -0.77% 0.72% 6.38% -7.68%

Silver still have some room for price rise as comparing Gold.

 

Technical Outlook and Analysis

Silver on weekly charts earlier break below from symmetrical triangle and found support near $14, just near the lower end of triangle symmetrical triangle

Descending trend line, which forms by joining highs of triangle now act as resistance? Which clearly visible as by rising price stall here for some time.

Comex Technical Analysis

To continue further up move price need to break out from this zone of $15.80-$15.85 with good volume. We assume that this breakout can occur, to confirm our view we look at momentum indicator RSI which rising with price rise support strong momentum in the upside.

Price can rise to $16.25-$16.30 after resistance zone of $15.80 taken out if not then price slide to test strong support of $50 from where it started really.

Major support resistance level as below:

Name S3 S2 S1 Pivot Points R1 R2 R3
SILVER 15.139 15.357 15.491 15.709 15.927 16.061 16.279

Economic Events to Keep Eye:

In the coming day’s major key economic data like CPI m/m and core CPI m/m data of the US and fed minutes of the meeting will be released.

Date Time Currency Data Forecast Previous
9-Jan-19 07:30 USD President Trump Speaks
10-Jan-19 00:30 FOMC Meeting Minutes
10-Jan-19 22:30 Fed Chair Powell Speaks
11-Jan-19 19:00 USD CPI m/m -0.10% 0.00%
      Core CPI m/m 0.20% 0.20%

Bursa Malaysia Stock Analysis: Is It The Right Time To Buy Astro Malaysia In Downtrend

Amidst the downtrend of Bursa Malaysia, Astro Malaysia Holdings Berhad is performing in a growing direction. Its current share price on 2nd January was at 1.330 share price with an increment of 0.030 (2.31%). Whereas Bursa Malaysia market is running down by 21.50 (-1.27%) at 1669.08.

This makes it very important to think about investing in Astro Malaysia in 2019 if an investor in Malaysia is thinking about investing in Bursa Malaysia.

ASTRO MALAYSIA (KLSE: ASTRO)

About The Company: 

Astro Malaysia Holdings Berhad is a Malaysian media and entertainment holding company that began as a paid digital satellite radio and television service, Astro. The company is owned by Astro Holdings Sendirian Berhad which also owns Astro Overseas Limited.

Its 11 radio brands include the highest rated stations across Malaysia’s four key languages, engaging with 16.5 million weekly audiences on-air and online.

Latest News: 

Its unit, MEASAT Broadcast Network Systems Sdn Bhd (MBSN), has secured RM 300.0 million loans from AmBank (M) Bhd. The loan will be used to finance MBSN’s production, purchase and licensing of content/programmes/channels, to purchase set-top boxes (including the settlement of vendor financing), for capital expenditure  including asset acquisition for broadcast and transmission and acquisition of software and platforms, and/or for lending to any member of the Astro Group (news source Edge market).

Performance In 2018:

Let’s consider the Fundamental and Technical overview of Astro Malaysia Holdings Bhd to better understand its performance in 2018.

Fundamental Overview
 

1. In FY-18 company reported sales of  MYR 5531 (million) with the profit of MYR 1140 (million).

2. Net income for FY-18 stood at MYR 771 (million).

3. Its net margin and operating margin comes at 13.93% and 20.61%

4. Book value per share comes at MYR 12.60.

5. The company has a good dividend payout percentage ratio above 80% and dividend at 0.10 MYR.

Below is the dividend history of Astro Malaysia in between FY13-FY19. As you can see that dividend continues to increase for the last six years. FY19 is yet to reach a new height. Considering the positive sentiments of the market regarding Astro Malaysia.

Astro Malaysia

5 Years Revenue & Profit Trend:

Astro Malaysia

Fundamental Data:

Market Capitalization (M) 6779
No. of Shares(M) 5214
Earning Per Share (MYR) 0.14779
Dividend(cent) 12.5
Dividend Yield(%) 9.614
Trailing PE 14.76
1 Year price Range 1.050 – 2.790

Key Highlight:

1.  New Initiative Company’s focus shifting to digital marketing

2. Sharing of printing facilities will reduce operating margin

3. Possibility merger & acquisition opportunities

4. Consumer sentiments and consumer spending will increase as per forecast by (Malaysian Institute of Economic Research) help to gain advertisement and subscription.

Technical Overview
 

Astro Malaysia

On daily charts, stocks bottom out around 1.10 after trading in a range from 1.10 to 1.25. Exponential moving averages like 20 days and 50 days now shift higher and trading sideways.

Price trading above moving averages pins out prices now moves higher. Momentum indicator like MACD also developed positive or bullish divergence and pointing upwards.

Positive histogram and the signal line above zero will signal entry opportunity on dips.

Price wise and time wise consolidation is good for the stock as it is the sign of major upcoming breakout in stock.

Price action wise each day price trading in sideways after giving breakout from 1.25 levels to reach at 1.41 levels and looks stock in retracement.

This retracement in price near 1.28-1.30 gives buying opportunity with strict support comes at 1.22 with price rise target up to 1.40 and 1.50.

Stocks major support and resistance level were as below:

Symbol S3 S2 S1 Pivot R1 R2 R3
Astro Malaysia
(6399)
1.214 1.247 1.284 1.317 1.354 1.387 1.424

 

Multi Management Future Solutions Key Takeaways   

It will be prudent to say that if you are a potential investor in Malaysia you must think about investing in Astro Malaysia. Media and Entertainment industry is very competitive and growing at an unprecedented rate. In this market, Astro Malaysia is making its footprint with exceptional growth. With all the date provided above, you can use your judgment to whether you should invest in it or not.

For latest stock picks and expert reports on KLSE stocks, subscribe to our 3 days free trial now-contact MMF Solutions.

Bursa Malaysia Opens On Positive Note After Buying In Local Sector Specific Stocks

Bursa Malaysia opened higher on buying in local sector specific stocks, in particular, Petronas Gas, MISC, Digi

FTSE Bursa Malaysia KLCI increased 3.66 focuses to 1,671.77 from Wednesday’s end of 1,668.11.

The index opened 7.05 focuses more grounded at 1,675.16. Market breadth was positive, as gainers beat failures 114 to 72, while 116 counters were unaltered, 1,557 untraded and 21 others suspended. Turnover remained at 55.94 million offers worth RM22.81 million.

Petronas Gas up 32 sen to RM18.90, MISC up 14 sen to RM6.69, Digi rose eight sen to RM4.50.

Sector-wise, the Finance Index down 7.38, the Plantation Index up 30.60 points to 6,794.69 and the Industrial Products and Services Index edged down 0.24 of a point to 165.20.

KLSE Stock Gainers

Stock Last Change
NESTLE 147.2 0.5
HLFG 18.92 0.48
HLBANK 20.58 0.28
TENAGA 13.62 0.18
MISC 6.7 0.15

KLSE Stock Loser

Stock Last Change
DLADY 61.04 -0.46
BAT 35.98 -0.46
VITROX 5.77 -0.36
MSM 2.39 -0.21
INARI 1.28 -0.19

Stock in News

MyEG Services Bhd shares rose 1.05% in morning trade after its sub-subsidiary MyEG Alternative Payment Services has received No Objection from Bank Negara Malaysia (BNM) for the launch of its iPay Easy e-wallet.

Reach Energy Bhd rose 5.56% in active trade this morning after the company said the Kariman 15 (K-15) vertical exploration well at its Emir-Oil concession block in Kazakhstan

PUC Bhd shares in active trade after the company said it is buying the rest of Pictureworks Holdings Sdn Bhd.

Global Market

U.S. stock indexes opened sharply lower on Wednesday, amid mounting concerns about a slowdown in China’s economy, which could ripple internationally. Dow initially 354 points but later recovered and closes in positive +18.78.

The major indexes ended the day in positive territory. The Dow edged up 18.78 points or 0.1 percent to 23,346.24, the Nasdaq climbed 30.66 points or 0.5 percent to 6,665.94 and the S&P 500 inched up 3.18 points or 0.1 percent to 2,510.03.

Energy stocks move to the upside over the session, benefiting from a significant rise in crude oil.

Crude for February delivery jumped $1.13 to $46.54 barrel after hitting a low of $44.35 a barrel.

Index Last Change%
Dow 30 23346.24 0.081
S&P 500 2510.03 0.13
Nasdaq 100 6665.94 0.46
FTSE 100 6734.23 0.09
DAX 10580.19 0.2

 

Currency Market

Forex Signals: The ringgit opened lower against the US dollar after weak demand for emerging currencies.

The ringgit traded at 4.1460/1500 versus the US dollar from 4.1350/1390.

Commodity Market

Gold Price: Gold trade with a positive note after us market saw high volatility. Gold trade in a range of $1284-$1290 in early trade

Gold Trading Range $1280-$1290

Bursa Malaysia Open With Positive Note But Later Move Lower After Manufacturing PMI Hits Record Low

Bursa Malaysia opens with the positive note but later move lower after manufacturing PMI hits record low in line with its regional peers, lifted mainly by buying in selected heavyweights, a dealer said.

The benchmark FTSE Bursa Malaysia KLCI gained 3.01 points to 1,693.59 from Monday’s close of 1,690.58. The index opened 2.93 points stronger at 1,693.51.

Market breadth was positive, as gainers thumped losers 113 to 47, while 104 counters were unchanged, 1,593 untraded and 20 others suspended.

Among heavyweights, Maybank fell one sen to RM9.49, Public Bank rose six sen to RM24.82, while both Tenaga and Petronas Chemicals gained two sen to RM13.62 and RM9.31 respectively. 

KLSE Stock Gainers

Stock Last Change
NESTLE 148 0.6
PANAMY 38 0.32
GHLSYS 1.69 0.11
CMSB 2.77 0.08
SOP 2.18 0.08

KLSE Stock Loser

Stock Last Change
DLADY 61.12 -0.88
PETDAG 25.9 -0.6
PETGAS 18.66 -0.54
PPB 17.24 -0.34
BKAWAN 16.4 -0.28

Stock in News

Genting Bhd and its subsidiary Genting Malaysia Bhd (GenM) fell in trade the morning session today after the US$4 billion (RM16.7 billion) Resorts World Las Vegas casino and resort project in Las Vegas was sued by Wynn Resorts Holdings for copying its building design.

WCT Holdings Bhd and TSR Capital Bhd after the companies accepted a contract award worth RM676.8 million to build a shopping complex.

Global Market

Stocks trade in a volatile session on Monday before ending a year. The major averages all closed in positive territory.

The Dow jumped 265.06 points or 1.2 percent to 23,327.46, the Nasdaq up 50.76 points or 0.8 percent to 6,635.28.

Buying interest was also generated after comments from President Donald Trump expressing optimism about a U.S.-China trade deal. No any U.S. economic data also kept market participants on the sidelines.

Index Last Change%
Dow 30 23327.46 1.15
S&P 500 2506.85 0.85
Nasdaq 100 6635.28 0.77
FTSE 100 6728.13 -0.09
DAX 10558.96 1.71

 

Currency Market

Forex Signals: The ringgit open lower vs. US Dollar, the ringgit traded at 4.1330/1360 versus the US Dollar from 4.1300/1350.

Commodity Market

Gold Price: Gold trade with a positive note after holidays. Gold trade in a range of $1279-$1283 in early trade

Gold Trading Range $1277-$1285

Bursa Malaysia Opens Higher After Rise In Asian Equities Trade Near 1700 Mark

Bursa Malaysia opened higher on year-end, in accordance with its Asian market followed by yearly portfolio adjustment.

FTSE Bursa Malaysia KLCI increased 1.23 focuses to 1,693.30 from Friday’s end of 1,692.07. The record opened 1.69 focuses more grounded at 1,693.76.

Gainers outnumber loser 95 to 28, while 98 counters were unaltered, 1,652 untraded and 44 others suspended. Turnover remained at 34.21 million offers worth RM9.15 million.

Among heavyweights, Maybank and Tenaga rose two sen each to RM9.45 and RM13.58 respectively, Public Bank was flat at RM24.88 and Petronas Chemicals fell nine sen to RM9.23.

Sector-wise, the Finance Index, Plantation Index was up but the Industrial Products and Services Index edged down.

KLSE Stock Gainers

Stock Last Change
NESTLE 148 0.6
BAT 36.32 0.32
PETGAS 19.26 0.26
UMW 5.58 0.26
TENAGA 13.8 0.24

KLSE Stock Loser

Stock Last Change
F&N 32.98 -0.42
SCIENTX 8.79 -0.36
AJI 19.3 -0.3
PPB 17.54 -0.16
HARTA 6.12 -0.1
 
Global Market

On Friday US stocks traded in volatile session. Stocks trade in wide range.

While the Nasdaq inched up 5.03 to 6,584.52, the Dow closed 76.42 points or 0.3 percent to 23,062.40 and the S&P 500 edged down 3.09 points or 0.1 percent at 2,485.74.

The major indexes moved higher to end week due largely to the historic rally on Wednesday. The Nasdaq soared by 4 percent, while the Dow and the S&P 500 jumped by 2.7 percent and 2.9 percent.

Most of the traders remained away following the Christmas Day holiday of the New Year’s Day holiday next Tuesday.

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Index Last Change%
Dow 30 23062.4 -0.33
S&P 500 2485.74 -0.12
Nasdaq 100 6584.52 0.08
FTSE 100 6733.97 2.27
DAX 10558.96 1.71
 
Currency Market

Forex Signals: The ringgit was higher against the US dollar. The ringgit traded at 4.1430/1460 versus the US Dollar from 4.1500/1550.

Commodity Market

Gold price: Gold prices fell slightly after the positive start of the Asian market and progress on the long-drawn China-US trade spat, while the dollar held steady in a narrow range. 

Gold Trading Range $1274-$1282 

Malaysia Stocks To Watch Next Week

Market Wrap Up 

Bursa Malaysia index traded sideways to positive mainly influenced by US political uncertainties, partial government shutdown, and potential interest rate hikes by the Federal Reserve.

Market participants were adjusting their portfolio to show YTD (Year to Date) positive return. Stock specific and news related price movements witnessed.

As per weekly close, FBM KLCI closed up 21.79 points to 1692.07.

Sector-specific the Finance Index jumped 198.15 points to 17,641.69, the Industrial Products and Services Index ticked up 1.34 points to 166.81, while the Plantation Index was 87.48 points firmer at 6,897.74.

SAPNRG, HUBLINE, MYEG, and ARMADA Among weekly top actives counters list.

There is no any main catalyst to market next week it is expected that market to trade in 1675-1705 level, tracking global market.

Below stocks remain in focused next week after key announcements and news.

Berjaya Land Bhd (Code: 4219)

Berjaya Land Berhad is a subsidiary of Berjaya Corporation. It was incorporated in 1990 as part of the Restructuring by Sports Toto Malaysia Bhd whereby it acquired the entire paid-up capital of Sports Toto. It has made a number of major acquisitions of various property and leisure assets in Malaysia.

Latest News

The company plans to divest its entire stake in TPC Nghi Tam Village Ltd, which operates the five-star Intercontinental Hanoi West Lake Hotel. Proposed plans will result in a gain of about RM192.33 million.

Outlook 

On basis of price, action stock can trade in a range of 0.185-0.230. If price open with a gap up and reach the upper end of range wait for the break of this range.

Astro Malaysia Holdings Bhd

Astro Malaysia Holdings Berhad is a leading integrated consumer media entertainment group in Malaysia and Southeast Asia with operations in 4 key areas of business, namely Pay-TV, Radio, Publications, and Digital Media. With a customer base of 3.1 mil residential customers or 50% penetration of Malaysian TV households, Astro offers 156 TV channels, including 68 Astro-created and branded channels and 22 HD channels, delivered via Direct-To-Home satellite TV, IPTV and OTT platforms.

Latest News

Astro Malaysia Holdings Bhd’s subsidiary, MEASAT Broadcast Network Systems Sdn Bhd (MBSN), has secured an RM300 million term loan from AmBank (M) Bhd.

The loan facility is to be used to finance production, purchase and licensing of content to purchase set-top boxes, capital expenditure — including asset acquisition for broadcast and transmission and acquisition of software and platforms

Outlook

Stock can rise and trade in a range of 1.30 to 1.39. Bullish pattern formation and rounding bottom can assume price can rise further.

Scientex Bhd’s (Code: 4731)

Scientex Berhad was established as Scientific Textile Industries Sendirian Berhad and pioneered the manufacturing of polyvinyl chloride leather cloth and sheeting. It is the largest producer of stretch films in Asia.

Latest News

The company reported its quarter ending financial results in which profit fell 25.9% to RM 53.67 million vs RM 72.4 million a year ago. While revenue was up 9%

Outlook

After strong uptrend stock looks to break the level of 9.00 below this support level downside open new support comes around 8.70-8.80. Upper side resistance comes at 9.45-9.50.

Bursa Malaysia Opens Lower As Market Participants Prefer Profit Taking

Bursa Malaysia opens lower from yesterday’s close on profit-taking after a previous day rise of 1.08%.

FTSE Bursa Malaysia KLCI slid 1.51 focuses to 1,689.21 from Thursday’s end of 1,690.72. The file opened 2.81 focuses more fragile at 1,687.91

Market breadth was positive, as gainers to losers stood at 112 to 60, while 130 remains unchanged. Among heavyweights, Public Bank eased four sen to RM24.84; CIMB trimmed one sen to RM5.77, while Tenaga advanced two sen to RM13.60.

Maybank and Petronas Chemicals were unchanged at RM9.40 and RM9.36 respectively.PPB the top loser, falling 18 sen to RM17.02, followed by KLK which shed 16 sen to RM23.98, Malaysia Airports retreated 14 sen to RM8.30, Scientex slid 10 sen to RM9.03 and Sime Darby Plantation was eight sen lower at RM4.70.

KLSE Stock Gainers

Stock Last Change
F&N 33 0.64
KLK 24.74 0.6
UTDPLT 25.62 0.52
PANAMY 38.1 0.2
AMWAY 6.2 0.2

KLSE Stock Loser

Stock Last Change
NESTLE 147 -1
DLADY 61.5 -0.7
AJI 19 -0.6
BAT 36 -0.36
AIRPORT 8.26 -0.18

Stock in News

Malton Bhd shares rose 13.41% in active trade after its joint venture (JV) with Hong Kong-listed Nan Hai Corp Ltd has been selected to enter into the next phase of bidding to build a superstructure above the airport express train station located near the Taipei main train station in Taiwan.

Kronologi Asia Bhd rose 7.02% after the group unveiled plans to acquire IT infrastructure company Sandz Solutions (Singapore) Pte Ltd for RM75 million using cash and new share issuance.

Genting Hong Kong Ltd. shares rose 7.5 percent in Hong Kong trading, more than any full-day gain since March 2016, as Hong Kong’s benchmark index advanced.

Global Market

US market extends late on Thursday to end in a positive, proceeding towards the year’s end. Markets have been unstable as worldwide, political and monetary instability keeps traders cautious.

The Dow Jones – This fell by in excess of 500 points or 1.8% prior on Thursday – closed day 1.1% up. The S&P 500 and tech-overwhelming Nasdaq likewise revitalized before the finish of the Thursday’s exchanging day.

The earlier sell-off was due to weak US consumer confidence data for December. However, bargain buying lift stock higher.

New developments about US-China trade tensions also resurfaced about banning the use of Chinese technology.

Index Last Change%
Dow 30 23138.82 1.14
S&P 500 2488.83 0.86
Nasdaq 100 6579.49 0.38
FTSE 100 6584.68 -1.52
DAX 10381.51 -2.37
 
Currency Market

Forex Signals: The ringgit was higher against the US dollar in early trade as weaker USD. The ringgit traded at 4.1600/1630 versus the US Dollar from 4.1660/1700.

Commodity Market

Gold Price: Gold Price trade with bullish stance with $1276 in yesterday’s trade. Upper resistance to price comes at $1280.

Trading and closing below $1270 can push price lower.

Gold Trading Range $1270-$1284

Bursa Malaysia Opens Higher After Bounce Back Observed On Wall Street And Rise In Crude Oil Prices

Bursa Malaysia open higher today, following the bounce back observed on Wall Street and rise in crude oil prices

The FTSE Bursa Malaysia KLCI (FBM KLCI) raised 8.34 focuses to 1,680.94 from Wednesday’s end of 1,672.60. The list opened 7.11 focuses higher at 1,679.71.

Market expansiveness was certain with 274 gainers against 26 failures, while 86 counters were unaltered, 1,498 untraded and 54 others suspended. Turnover remained at 149.64 million offers worth RM63.53 million.

Among heavyweights, Maybank gained three sen to RM9.38, Public Bank bagged four sen to RM24.80, Tenaga advanced 12 sen to RM13.66, and CIMB rose five sen to RM5.77, while Petronas Chemicals was changed at RM9.19.

KLSE Stock Gainers

Stock Last Change
BAT 35.98 0.42
ALLIANZ 12.8 0.4
F&N 32.36 0.36
AIRPORT 8.49 0.31
NESTLE 145.8 0.3

KLSE Stock Loser

Stock Last Change
AJI 18.5 -0.5
AMWAY 6 -0.1
GENP 9.66 -0.09
NHFATT 2.59 -0.08
SNTORIA 0.37 -0.08

Stock in News

Genting Hong Kong Ltd. shares rose 7.5 percent in Hong Kong trading, more than any full-day gain since March 2016.

Eversendai Corp Bhd shares rose 1.56% this morning after the group said it had secured jobs worth RM1.44 billion.

Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) rose 2.70% this morning after its consortium with UK-based TechnipFMC plc, bagged a six-year contract from Saudi Arabian Oil Co (Saudi Aramco) to undertake engineering, procurement, facilities within Saudi Arabia waters.

Global Market

US markets have witnessed bounce back from its lower level with the Dow Jones up by about 5% and the Nasdaq ascending by almost 6%. The Dow rose 1,086, picking up 5%. The S&P 500 also followed Dow soar 5%,

Tech stocks drove the rally. Amazon took off 9.5%, Facebook (FB), Netflix (NFLX) rose 8%, Apple (AAPL) hopped 7% and Alphabet (GOOGL) was up 6%.

Vitality stocks were not far behind, driven by Marathon Oil (MRO), which rose 11.9%. Hess (HES) was up 11%.

Index Last Change%
Dow 30 22878.45 4.98
S&P 500 2467.7 4.96
Nasdaq 100 6554.36 0.40%
FTSE 100 6685.99 -0.52%
DAX 10633.82 0.21%

 

Currency Market

Forex Signals: The ringgit was higher against the US dollar in early trade as weaker USD. The ringgit traded at 4.1740/1770 versus the US Dollar from 4.1750/1790.

Commodity Market

Gold price: Gold hit its highest level shrugging off the recovery in the U.S. equity markets and a firmer U.S. Dollar. Comex gold Feb contract is trading $1277.30, up $5.50 or +0.46%. This is slightly below the July 9 top at $1284.10 and a key technical level at $1285.70.

Gold Trading Range $1262-$1275

Bursa Malaysia Dragged Lower After Profit Booking Tracking Cues From Global Market.

Bursa Malaysia opened lower after global market rout and traders prefer to book a profit of recent rise.

The key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 12.26 focuses to 1,671.56 from Monday’s end of 1,683.82. The index opened 15.13 focuses bring down at 1,668.69.

Among heavyweights, Maybank lost three sen to RM9.23, Public Bank declined 14 sen to RM24.64, Tenaga fell 22 sen to RM13.78, Petronas Chemicals dropped eight sen to RM9.15 and CIMB went down two sen to RM5.66.

Tenaga and Public Bank were also among the top losers on Bursa Malaysia at the opening bell.

KLSE Stock Gainers

Stock Last Change
F&N 32.06 0.28
GOPENG 0.65 0.1
MBMR 2.15 0.09
SEM 1.37 0.08
PGLOBE 1.15 0.07

KLSE Stock Loser

Stock Last Change
NESTLE 145.1 -0.9
BAT 35.04 -0.86
UTDPLT 25 -0.8
AJI 18.3 -0.7
TENAGA 13.44 -0.56

Stock in News

TSR Capital Bhd shares gained 1.39% after its wholly-owned unit TSR Bina Sdn Bhd has won a RM79.8 million road project in Sungai Buloh.

Malaysian Bulk Carriers Bhd (Maybulk) shares rose 6.2% in the morning trade following a positive outlook on the stock. Maybulk rose 3.5 sen to 60 sen.

Top Glove jumps after entry into KLCI index. Market participants rebalancing their position after index constituent’s inclusion.

Global Market

U.S. stock faced its worst closing on Monday on the eve of Christmas in history in a vacation abbreviated session, putting the S&P 500 on the precarious edge of the 20% fall.

The major index saw downfall, ending the session at their worst levels of the day.

The Dow plummeted fall 653.17 points or 2.9 percent to 21,792.20, the Nasdaq tumbled 140.08 points or 2.2 percent to 6,192.92 and the S&P 500 plunged 65.52 points or 2.7 percent to 2,351.10.

Index Last Change%
Dow 30 21792.2 -2.91
S&P 500 2351.1 -2.71
Nasdaq 100 6192.92 -5.14
FTSE 100 6685.99 -0.52
DAX 10633.82 0.21
 
Currency Market

Forex Signals: The ringgit was higher against the US dollar in early trade as weaker USD. The ringgit traded at 4.1750/1790 versus the US Dollar from 4.1830/1840.

Commodity Market

Gold Price: Gold spot trading at $1272 in morning trade near high. Tracking cues from global market lift safe-haven demand.