Market Morning Brief [14 September 2017]

14 September 2017, Thursday 🙂

US Market :
U.S. stocks closed slightly higher on Wednesday, notching record highs, as a gain in the energy sector offset losses in tech. Energy stocks received a boost from oil prices, which rose 2.2 percent to a five-week high of $49.30 per barrel on an improving demand outlook. Technology stocks were among the worst performers, however, falling 0.2 percent after closing at a record high on Tuesday.

Europe Market :
closed Wednesday’s trade relatively flat, as a mixedperformance from overseas markets and a sharp decline in mining stocks weighed on the region.

Precious Metal :
Gold fell to a 1-1/2-week low on Wednesday, erasing earlier gains as the dollar index jumped, though a retreat in global stocks after Tuesday’s record high prevented deeper losses.

Crude Oil :
Oil prices rose on Wednesday after the International Energy Agency said a global surplus of crude was starting to shrink, even though U.S. data showed another big increase in crude inventories due to the ongoing effects of Hurricane Harvey.

Indices & Commodities :
DJIA: 22,158.18 (+39.32)
S&P500: 2,498.37 (+1.89)
NASDAQ: 6,460.19 (+5.91)
DAX: 12,553.57 (+28.80)
FTSE: 7,379.70 (-20.99)
EuroStoxx50: 3,527.38 (+14.82)
Comex Gold: 1,328.0 (-4.7)
Comex Copper: 2.9810 (-.0550)
WTI Crude Oil: 49.30 (+1.07)
Crude Oil: 55.16 (+.89)

Economic Events :
9.30AM – AUD Employment Change (Aug)
10.00AM – CNY Industrial Production (YoY) (Aug)
3.30PM – CHF SNB Interest Rate Decision, SNB Monetary Policy Assessment
4.30PM – GBP Retail Sales (MoM) (Aug)
7.00PM – GBP BoE Interest Rate Decision (Sep), BoE MPC Meeting Minutes
8.30PM – USD Core CPI (MoM) (Aug)

FX & Bonds :
USD/MYR – 4.193
EUR/USD – 1.188
GBP/MYR – 5.539
AUD/MYR – 3.346
SGD/MYR – 3.105
Msia 10 yr Yield – 3.85%

13/9/2017 Bursa Trade Stat :
Retail (24.04%) – net BUY 33.73mil
Institution (56.49%) – net SELL 25.87mil
Foreign (19.47%) – net SELL 7.86mil
Total traded value 1847.65mil


• Penang-based *CAB Cakaran Corp Bhd* is setting up a poultry slaughtering facility in , along with a dormitory for its workers.

• *Puncak Niaga Holdings Bhd* announced it has secured the greenlight from the Securities Commission (SC) to proceed with its plan to acquire TRIplc Bhd for RM210 million cash, to enhance its construction segment’s revenue and long-term growth prospects.

*Land & General Bhd* plans to launch two projects with an estimated gross development value (GDV) of RM710 million in its ending March 31, 2018 (FY18).

• *Axiata Group Bhd* announced the incorporation of new digital finance solutions provider company Merchantrade Digital Services Sdn Bhd (MDS).

• *Datasonic Group Bhd* is aiming to achieve a record high bottomline for its financial year ending March 31, 2018 (FY18), on the back of its secured contracts from the government.

• *Enra Group Bhd* is eyeing RM1 billion upstream jobs in marginal oil fields in Southeast Asia and Australia, which it hopes to secure in 24 months.

• *EITA Resources Bhd* has bagged a subcontract worth RM11.3 million to supply and install 23 lifts for a residential development in Setapak.

• Marble and granite slabs manufacturer *AbleGroup Bhd* announced that the trading of its securities on Bursa Malaysia will be suspended from 9am today, pending the release of a material announcement.

• *UEM Edgenta Bhd* is selling its 61.2% stake in New Zealand-listed Opus International Consultants Ltd at a higher price of NZ$1.92 (about RM6.01) a share, after the buyer upped its offer.

• *Versatile Creative Bhd* is planning to dispose of 98.42 million shares, equivalent to a 3.98% stake, in troubled *Iris Corp Bhd* as part of its plan to monetise non-core investments.

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