Market Morning Brief [31 July 2017]

31 July 2017, Monday 😐

US Market :
U.S. closed well off session lows on Friday investors shook off a sharp pullback from Amazon shares initially dragged the broader market lower after reporting a much weaker-than-expected quarterly profit. But stocks improved throughout the session, pushing the Dow Jones industrial average to a record close.

Europe Market :
European stocks closed were lower on Friday after Amazon’s earning miss and tobacco stocks took a tumble. Adidas surged towards the top of the benchmark after reporting an improved full-year outlook in its second-quarter earnings report late Thursday. On the data front, euro zone economic confidence surged to a 10-year high in July.

Precious Metal :
Gold prices rose to a six-week high on Friday after weaker than expected U.S. inflation dampened expectations that the U.S. Federal Reserve will aggressively raise interest rates and North Korea fired a ballistic missile, triggering safe-haven buying.

Crude Oil :
Oil prices edged higher on Friday, reaching new two-month highs and posting the strongest weekly percentage gains this year as investors digested signs of an easing oversupply.

Indices & Commodities :
DJIA: 21,830.31 (+33.76)
S&P500: 2,472.10 (-3.32)
NASDAQ: 6,374.68 (-7.51)
DAX: 12,162.70 (-49.34)
FTSE: 7,368.37 (-74.64)
EuroStoxx50: 3,462.86 (-30.28)
Comex Gold: 1,275.3 (+8.8)
Comex Copper: 2.8750 (-.0025)
WTI Crude Oil: 49.71 (+.67)
Crude Oil: 52.22 (+.70)

Economic Events :
9.00AM – CNY Manufacturing PMI (Jul)
5.00PM – EUR CPI (YoY) (Jul)
10.00PM – USD Pending Home Sales (MoM) (Jun)

FX & Bonds :
USD/MYR – 4.283
EUR/USD – 1.175
GBP/MYR – 5.625
AUD/MYR – 3.422
SGD/MYR – 3.140
Msia 10 yr Yield – 3.98%

28/7/2017 Bursa Trade Stat :
Retail (15.7%) – net BUY 12.9mil
Institution (57.1%) – net SELL 32.0mil
Foreign (27.2%) – net BUY 19.1mil
Total traded value 2203.5mil


31st July 2017

Dow Jones : ⬆33.76 (Last Friday)
-S&P 500 dented by earnings; Dow hits record high


• Virtual mobile network operator XOX Bhd is partnering an Indonesian telecommunication services company to take its Voopee mobile solution to Indonesia.

• National postal and courier company Pos Bhd has partnered -based e-commerce logistics and selling platform Anchanto to strengthen its e-commerce warehousing facilities.

• Tropicana Corp Bhd has unveiled a new collection of homes dubbed Tropicana Urban Homes to offer more affordable houses to middle-income homebuyers.

• Berjaya Assets Bhd has acquired an additional 1.32% equity interest in 7-Eleven Malaysia Holdings Bhd for RM18 million.

• Kronologi Asia Bhd saw the net profit for its second quarter ended June 30, 2017 more than double to RM4.1 million from RM1.7 million a year ago.

• EcoFirst Consolidated Bhd’s net profit for the fourth quarter ended May 31, 2017 rose by about 13 times to RM7.77 million or 0.97 sen per share from RM608,000 or 0.08 sen per share a year ago.

• Fajarbaru Builder Group Bhd has secured a RM101.3 million contract to complete the remaining building works of a commercial development for TYL Land & Development Sdn Bhd.

• Focus Dynamics Group Bhd is revising its previous proposed renounceable involving some 1.25 billion new shares with up to 622.69 million free detachable warrants to include the issuance of irredeemable convertible preference shares (ICPS) as it will not have an immediate dilution effect on the groups’ earnings per share (EPS).

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