Market Research, Monday

US Market :

Nasdaq and S&P 500 rip to record close after blowout tech earnings; Amazon tops $1,100. The tech-heavy Nasdaq composite and Nasdaq 100 rose 2.2 percent and 2.9 percent, respectively, to hit record highs. The PowerShares QQQ Trust exchange-traded fund, which tracks the Nasdaq 100, rose 2.9 percent. Leading the ETF higher were shares of Amazon, Microsoft and Google-parent Alphabet; their stocks rose 13.2 percent, 6.4 percent and 4.3 percent, respectively. The S&P 500 also hit a record high.

Europe Market :

European stocks close higher on earnings, dovish ECB; IBEX falls on Catalonia news. Earnings season continues to be in full swing, with many firms posting their latest figures The ECB said Thursday it would cut back with its scheme designed to boost the in the euro zone The regional parliament of Catalonia declared independence from Spain on Friday



Precious Metal :

on safe-haven appeal after Catalonia declares independence. All precious metals headed for weekly decline. Dollar pares gains but still near 3-month high.

Crude Oil :

Gold rises on safe-haven appeal after Catalonia declares independence. All precious metals headed for weekly decline. Dollar pares gains but still near 3-month high.

Indices & Commodities :

DJIA: 23,422.21 (-39.73)
S&P500: 2,582.30 (-2.32)
NASDAQ: 6,750.94 (+0.89)
DAX: 13,127.47 (-55.09)
FTSE: 7,432.99 (-51.11)
EuroStoxx50: 3,593.07 (-19.43)
Comex Gold: 1,274.5 (-11.1)
Comex Copper: 3.0695 (-0.0105)
WTI Crude Oil: 56.90 (-0.27)
Crude Oil: 63.66 (-0.27)
BMD FKLI: 1743.0 (-0.5)
BMD FCPO: 2799 (-9)

Economic Events :

MON, Nov 13
8:10AM – USD FOMC member Harker speaks
5:00PM – EUR ECB’s Constancio speaks



FX & Bonds :

USD/MYR – 4.192
EUR/USD – 1.166
GBP/MYR – 5.529
AUD/MYR – 3.215
SGD/MYR – 3.081
Msia 10 yr Yield – 4.06%

10/11/2017 Bursa Trade Stat :
Retail (24.3%) – net SELL 9.8mil
Institution (57.8%) – net BUY 68.1mil
Foreign (19.9%) – net SELL 58.3mil
Total traded value 2136.2mil

CORPORATE NEWS

• Westports Holdings Bhd saw a marginal drop in its net profit for the third financial quarter ended Sept 30, 2017 (3QFY17) on lower container throughput and higher fuel cost compared to lower fuel prices in 3QFY16.

• BHS Industries Bhd’s (BHS) wholly-owned subsidiary Nextgreen Sdn Bhd has teamed up with Bau Palm Oil Mill Sdn Bhd, a company managed by Land Consolidation & Rehabilation Authority (SALCRA), to construct a biogas plant and integrated wastewater treatment plant at SALCRA’s palm oil mills.

• Petronas Gas Bhd (PetGas) announced today that its net profit for 3QFY17 slipped a marginal 1.2% to RM417.43 million, from RM422.71 million a year ago, as a result of lower gross profit due to higher depreciation.

• Petronas Dagangan Bhd’s (PetDag) net profit in 3QFY17 jumped three times y-o-y to RM761.73 million, from RM248.76 million, on higher sales volume, better margins and a gain on the disposal of a subsidiary.



• Destini Bhd will be partnering with ’s Federal International (2000) Ltd to collectively bid for oil and gas projects in the South Asia and South East Asia region.

• XOX Bhd announced today that it has entered into a collaboration agreement with Indonesia’s PT Inovasi Telematika Nusantara and Pengurus Besar Nahdlatul Ulama (PBNU), for the development of a mobile application using its Voopee solution.

• Samchem Holdings Bhd’s net profit for 3QFY17 almost doubled to RM6.31 million from RM3.26 million in the corresponding quarter a year ago, mainly due to higher sales.

• Mudajaya Group Bhd announced today it is withdrawing from RM810 million contract it was awarded last year by Consortium Zenith Construction Sdn Bhd for construction work in Penang over “uncertainties” of the project.

• Dialog Group Bhd is going to lease two plots of land in Johor from Johor Corp (JCorp) for 30 years and buy a tank terminal facility from the Johor state investment corporation, to expand its tank terminal storage capacity and operations at Tanjung Langsat.

• KNM Group Bhd has proposed a private placement of up to 10% of its issued shares to independent investors to raise up to RM53.32 million, mainly to repay bank borrowings.

Source from: www.theedgemarkets.com

=====================
Technical:



KLSE OUTLOOK FOR 13-11-2017 (MONDAY): OUR TAD STOCKS CONTINUE TO SHINE IN A SOFT KLSE MARKET – FRED TAM

Dear all,

The KLCI was lower by 4.53 points or 0.26% to close at 1742.28 and losers beat gainers by 479 to 371 while 974 counters were unchanged.

The local market continued to be soft as can be seen by the negative market breadth last Friday where there were more losers (479) compared to gainers (371).

Yet our TAD members were joyous and happy because our TAD stocks virtually leapt out of the screen, metaphorically speaking.

Oil and gas stocks HENGYUAN and PETRONM met our immediate targets and our members were more than satisfied with our stock picking performance. But what made us euphoric was the breakout of HIBISCUS. This stock, as we had anticipated, broke out of a symmetrical triangle by 7.48% to close at 0.79.

With this strong close, we are very optimistic that the smart funds are going to rev it up to test its next higher targets of 0.90/0.99 and1.14. Monitor HIBISCUS is the word.

As for HENGYUAN, it has tested our target of 9.93-10.25 with a close at 10.00. Ten ringgit is a ”round number” and technical analysis tells us that round numbers may be numbers where stocks take a rest. So be careful about getting too bullish at this point.

We have appended in our detailed report two possible strategies which a trader can apply to trade this counter. We are of the view that this stock’s rally has by no means peaked, but we are just cautious that it may have found a temporary top. Please refer to these two strategies for those of you who are thinking to “entering” HENGYUAN today.

We also have posted our strategy for trading PETRONM. Do consult our detailed report. In this report we too have detailed how to handle HIBISCUS, its targets and stops.

Besides these few oil and gas leaders, we see other possible rallies in other oil and gas stocks like SERBADK, UMWOG, REACH, COASTAL, ICON, DIALOG, CARIMIN and MHB.

Other stocks-to-watch for Monday are: AEMULUS, EFORCE-EFORCE-WA, UCHITEC, , -WB, GBGAQRS, CUSCAPI, HARTALEGA, PALETTE, TMCLIFE and steel stocks LIONIND, MASTEEL.

Crude palm oil: In spite of a flat to slightly lower day, CPO is still a “hold” on the long side. Price is above all its moving averages, and an oversold stochastic suggest a bullish stance. We remain bullish on CPO and we expect CPO to rally further to test 2896 and thereafter to 2945-2950, not discounting the 3,000 level and beyond. Please refer to CPO chart that accompanies this report for new stops.

Have a great Monday and as always, good trading!

♦RHB Investment Bank Berhad, RHB Centre*
Technical Analyzer
Date/日期 : 13/11/2017

1) VITROX (0097)
Price/现价           : 5.63
Target price/目标价: 6.00/6.50
Cut loss/止损价    : 4.90
**Syariah
Sector/领域: TECHNOLOGY

2) ZHULIAN (5131)
Price/现价           : 1.90
Target price/目标价: 2.00/2.30
Cut loss/止损价   : 1.72
**Syariah
Sector/领域:  CONSUMER PRODUCT

3) HLT (0188)
Price/现价           : 0.625
Target price/目标价 : 0.70/0.80
Cut loss/止损价    : 0.55
**Syariah
Sector/领域: INDUSTRIAL PRODUCT

4) DIALOG (7277)
Price/现价           : .2.33
Target price/目标价: 2.50/2.70
Cut loss/止损价   : 2.16
**Syariah
Sector/领域: TRADING/SERVICES

5) MFLOUR (3662)
Price/现价           : 2.06
Target price/目标价: 2.23/2.50
Cut loss/止损价    : 1.84
**NON Syariah
Sector/领域: CONSUMER PRODUCT

6) SAM (9822)
Price/现价           : 7.51
Target price/目标价: 8.00/8.50
Cut loss/止损价   : 7.05
**Syariah
Sector/领域: TRADING/SERVICES

Source : RHB RESEARCH INSTITUTE






Comments are Closed