Market Morning Brief [18 September 2017]
18 September 2017, Monday 😐
US Market :
U.S. stocks rose to record levels Friday and posted strong weekly gains. S&P 500 hit 2,500 for the first time. The three major indexes finished the week at least 1.4 percent higher. The Dow also notched its biggest weekly gain since the week of Dec. 9.
Europe Market :
European stocks fell on Friday after North Korea sent another missile over Japan into the Pacific Ocean. However, they registered their best week since July.
Precious Metal Gold :
Gold prices fell on Friday after a European Central Bank (ECB) official called for scaling back the bank’s stimulus program, although losses were capped when weaker-than-expected U.S. economic data raised questions about further interest rate hikes. ECB board member Sabine Lautenschlaeger made the most explicit call so far from an ECB policymaker for paring the bank’s 2.3 trillion euros money-printing program.
Crude Oil :
Oil prices posted their highest weekly rise since the end of July on higher demand forecasts and the restart of oil-hungry refineries in the United States.
Indices & Commodities :
DJIA: 22,268.34 (+64.86)
S&P500: 2,500.23 (+4.61)
NASDAQ: 6,448.47 (+19.38)
DAX: 12,518.81 (-21.64)
FTSE: 7,215.47 (-79.92)
EuroStoxx50: 3,514.70 (-11.78)
Comex Gold: 1,325.2 (-4.1)
Comex Copper: 2.9490 (-.0085)
WTI Crude Oil: 50.44 (+.09)
Brent Crude Oil: 55.62 (+.15)
Economic Events :
🇯🇵 Holiday – Japan – Respect for the Aged Day
3.00PM – GBP BoE Gov Carney Speaks
5.00PM – EUR CPI (YoY) (Aug)
11.00PM – GBP BoE Gov Carney Speaks
FX & Bonds :
USD/MYR – 4.192
EUR/USD – 1.194
GBP/MYR – 5.696
AUD/MYR – 3.355
SGD/MYR – 3.082
Msia 10 yr Bond Yield – 3.85%
15/9/2017 Bursa Trade Stat :
Retail (15.9%) – net BUY 8.5mil
Institution (45.9%) – net SELL 88.4mil
Foreign (38.2%) – net BUY 79.9mil
Total traded value 2692.9mil
*_18th September 2017_*
*Dow Jones* : ⬆64.86 (Last Friday Closing)
_Wall Street hits record highs, S&P 500 pierces 2,500_
*GOLD PRICE* : 1320.09
⬇0.31 / 0.02%
*WTI CRUDE OIL* : 49.89
– / -%
*BRENT OIL* : 55.63
⬆0.15 / 0.27%
*USD/MYR* : 4.19
• *Daya Materials Bhd* has entered into an early agreement with MIMOS Semiconductor Sdn Bhd (MSSB) to work together to provide a crowd management and passenger system for rail as well as non-rail systems.
• IT specialist *Accsoft Technology Bhd* is looking to work together with a local firm that assembles and trades motorcycles to exploit market potential in relation to last mile delivery in the e-commerce industry.
• *Berjaya Corporation Bhd* is disposing of its entire 100% equity interest in China-based Berjaya Green Resources Environmental Engineering (Foshan) Co Ltd (BGREE) for 78.5 million renminbi (RM50.87 million).
• *Berjaya Food Bhd* said net profit for the first quarter ended July 31, 2017 (1QFY18) rose 7% to RM5.34 million from RM5 million last year, mainly due to having more cafes in operation.
• *DRB-Hicom Bhd* said its partner Zhejiang Geely Holding Group will be nominating a suitable candidate to take on the role of chief executive officer at Perusahaan Otomobil Nasional Sdn Bhd (PONSB), the production arm of Proton Holdings Bhd.
• *Kimlun Corp Bhd* has bagged a RM214.76 million contract from Hillcrest Gardens Sdn Bhd to build two blocks of condominiums and ancillary buildings in Puchong, Selangor.
• *Omesti Bhd* is looking to raise its recurring income contribution to more than 50% of its total revenue within two to three years, mainly through longer term collaborations with existing clients.
• *Hibiscus Petroleum Bhd* has been granted major project status for the West Seahorse Project in Australia.
• *Scomi Group Bhd* has received approval from the Securities Commission Malaysia to issue new shares to its directors, major shareholders or related parties without having to obtain approval from shareholders.
_Source from_: www.theedgemarkets.com