Market Morning Brief [25 July 2017]

US Market :
U.S. closed mostly lower Monday as geared up for a major week of earnings and Federal Reserve news. The Nasdaq composite outperformed, closing 0.36 percent higher at 6,410.81, and notching intraday and closing records. The tech-heavy index is up nearly 20 percent year to date. Approximately 180 S&P 500 components are scheduled to report, including tech giants Facebook and Amazon. Google-parent Alphabet posted better-than-expected quarterly results after the bell.

Europe Market :
Bourses in Europe closed mixed on Monday afternoon as auto stocks slumped amid allegations of collusion. Auto stocks were under pressure after reports that the EU is investigating alleged collusion between German carmakers on technology.

Precious Metal :
Gold prices hit a one-month high on Monday as a weaker dollar and political turmoil in the United States boosted sentiment ahead of the Fed’s monetary policy meeting later this week.

Crude Oil :
Oil prices rose higher throughout Monday’s session after leading OPEC producer Saudi Arabia pledged to cut exports in August to help reduce the global crude glut.

Indices & Commodities :
DJIA: 21,513.17 (-66.90)
S&P500: 2,469.91 (-2.63)
NASDAQ: 6,410.81 (+23.05)
DAX: 12,208.95 (-31.11)
FTSE: 7,377.73 (-75.18)
EuroStoxx50: 3,447.03 (-4.68)
Comex Gold: 1,254.3 (-.6)
Comex Copper: 2.7365 (+.0140)
WTI Crude Oil: 46.34 (+.57)
Crude Oil: 48.60 (+.54)

Economic Events :
4.00PM – EUR German Ifo Business Climate Index
6.00PM – GBP CBI Industrial Trends Orders
9.00PM – USD S&P/CS HPI Composite – 20 n.s.a.
10.00PM – USD CB Consumer Confidence

FX & Bonds :
USD/MYR – 4.278
EUR/USD – 1.163
GBP/MYR – 5.571
AUD/MYR – 3.390
SGD/MYR – 3.141
Msia 10 yr Yield – 3.92%

24/7/2017 Bursa Trade Stat :
Retail (18.31%) – net SELL 1.57mil
Institution (61.84%) – net SELL 124.05mil
Foreign (19.85%) – net BUY 125.72mil
Total traded value 1677.88mil


25th July 2017

Dow Jones : ⬇66.90
Global markets split amid corporate earnings

GOLD PRICE : 1255.30
⬆0.99 / 0.08%

⬆0.71 / 1.55%‼

BRENT OIL : 48.68
⬆0.62 / 1.29%‼

USD/MYR : 4.28


• Lotte Chemical Titan Holding Bhd(LCT) has received share buy-back requests for 34.81 million shares from retail investors and MITI-approved non-cornerstone Bumiputera investors eligible for the offer, representing a take up rate 58.8%.

• Iskandar Waterfront City Bhd(IWCity)’s substantial shareholder Creed Asia Development (M) Sdn Bhd has trimmed its stake to 5.26% from 6.88% previously, after disposing of 12.6 million shares last week.

• Rohas Tecnic Bhd has signed an agreement with shareholders of EPCC company HG Power Transmission Sdn Bhd to buy 75% stake in the latter — at a revised price of RM91.66 million.

• Axis Real Estate Investment Trust() is planning to buy lands measuring a total of 126.55 acres together with buildings erected thereon for RM155 million cash from five subsidiaries of Wah Seong Corp Bhd.

• ManagePay Systems Bhd intends to list its associate Trustgate Bhd on Bursa ’s Leading Entrepreneur Accelerator Platform (LEAP) Market, with M&A Securities Sdn Bhd as the adviser.

• Practice Note 17 (PN17) company Java Bhd has received the green light from Bursa Malaysia to delay the deadline for the submission of its regularisation plan to Dec 29.

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