Monthly Archives: September 2016

You are browsing the site archives by month.

Reuters- U.S. stocks climbed on Thursday, with big tech names leading broad gains, building on strength from a day earlier that was fueled by the Federal Reserve’s decision to stand pat on interest rates.

The S&P 500 tallied its best two-day performance in more than two months, while the Nasdaq closed at a record high.

Fed Chair Janet Yellen said on Wednesday that U.S. growth was looking stronger and rate increases would be needed to keep the economy from overheating and fuelling high inflation. But the central bank maintained the low-interest rate environment that has helped underpin the bull market for stocks.

“Lower for longer is a good thing for the equity markets…” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “It basically says risk back on.”

The Dow Jones industrial average .DJI rose 98.76 points, or 0.54 percent, to 18,392.46, the S&P 500 .SPX gained 14.06 points, or 0.65 percent, to 2,177.18 and the Nasdaq Composite .IXIC added 44.34 points, or 0.84 percent, to 5,339.52.

The three indexes recorded their third straight session of gains.

Concerns over whether the Fed would raise rates prompted a return of stock market volatility in recent weeks after two months of calm. For the year, the benchmark S&P 500 is up 6.5 percent.

———————————————————————-

Companies in News

Carimin Petroleum Bhd is seeking shareholders’ approval for its proposed diversification into the construction business, following the downturn in the oil and gas industry. It targets to complete the proposal by the fourth quarter of 2016.

Malaysia Airports Holdings Bhd rose as much as 56 sen or 8% to RM7.30 earlier today on speculation the Malaysian Cabinet had approved an upward revision to the airport passenger service charge (PSC).

Daya Materials Bhd’s engineering and construction unit has bagged a RM224 million contract to build retail facilities for Aspen Vision City Sdn Bhd in Batu Kawan, Penang.

DRB-Hicom Bhd is planning to sell its 90% stake in Corwin Holding Pte Ltd, which owns properties in Singapore, again. But the selling price has been slashed by 40% when compared to an earlier planned disposal that was announced in December last year.

Berjaya Land Bhd (BLand), which posted a net loss in the first quarter ended July 31, 2016 (1QFY17), is buying 871.01 acres of freehold lands in Sungai Tinggi, Ulu Selangor to boost its land bank via a related party transaction for RM155 million or RM177,954 per acre.

NetX Holdings Bhd plans to cancel three sen off the par value of its ordinary shares of five sen each to two sen, which could raise up to RM56.3 million to eliminate accumulated losses of RM37.3 million.

Crude Oil: 45.98m -0.24%
Brent Oil: 47.47 -0.11%
Gold: 1,340.95 +0.03%
Silver: 19.953 +0.02%
USD/MYR: RM4.11
SGD/MYR: RM3.03

———————————————————-

CH SEOW: M+ Online Market Wrap–22Sep16

FBM KLCI: 1,669.66 pts (+10.93 pts, +0.66%)
Tracking the gains on Wall Street after Federal Reserve kept the interest rates unchanged; the FBM KLCI surged higher on the back of strong buying activities among government-linked companies, boosting the key index to close near the 1,670 level. Market breadth stayed positive with advancers overwhelmed decliners by a ratio of 529-to-313 stocks. GLCs that were under traders’ radar include FGV (+9.0 sen), DRBHCOM (+3.0 sen), UEMS (+9+.0 sen) and MRCB (+6.0 sen).

Top 3 Active stocks:
SCBUILD (0109): RM0.045 (+0.5 sen)
SANCHI (0133): RM0.09 (unch)
BORNOIL (7036): RM0.185 (+1.0 sen)

Volume: 2.11 bln (3-month avg vol: 1.89 bln)
Value: RM2.23 bln
Market Breadth: ⬆:529 ⬇:313
Crude palm oil: RM2,702 (+RM25)
Dow Futures: 18,228 pts (+10 pts)

Source: Bloomberg, M+ Online

—————————————————————

TheBursa Analyst:
Thursday, 23 September 2016

ATTN: ALL Bursa Traders,

Yesterday all the GLC counters like UEMS FGV MBSB MRCB DRB MAYBANK moved like rhinoceros ! Crazier than bull !

The FBMKLCI closed higher 1,669.66 (+10.93 or + 0.66%). It seems that the KLCI is bullish and after a hammer, we have a white candlestick normally as confirmation of bearish reversal. This has been confirmed ! Also maybe because EFP is flooding some money into the market to support KLCI and improve liquidity. Anyway lets hope that the KLCI can maintain its bullishness back to 1680.

Meanwhile, our neighbouring market outlook for the day are:

•  Australia S&P/ASX200 closed higher at 5,316.06 (+35.55 or +0.67%)
•  China A50 closed higher at 9,678.62 (+68.32 or +0.71%)
•  Hong Kong HSI closed higher at 23,759.8 (+89.9 or +0.38%)
•  Indonesia’s IDX Composite closed higher at 5,380.26 (+37.67 or +0.71%)
•  Japan’s Nikkei Closed higher at 16,807.62 (+315.47 or +1.91%)
•  South Korea KOSPI closed higher at 2,049.7 (+13.71 or + 0.67%)
•  Taiwan Weighted closed higher at 9,235.26 (+6.76 or +0.07%)

•  The USD opened weaker against our MYR at 4.1008 .
•  Crude Oil prices closed higher at 45.34.

DJIA closed 18,293.7 and opened high at 18,343.76! A bull is coming ! maybe a small one.

BULLS Everywhere!
As expected, Fed Yellen Speaks That there will BE NO interest hike ! together with Boj to maintain -0.1% Everybody in the market is getting into the mood !

Stocks to watch are:

JTIASA: seems like something coming up. Support is at RM 1.25, cut if it is broken.

NAIM: Seems to be coming already, Cut if break support of RM 1.69

Stocks follow up :

IQGROUP: Closed high of RM 2.33 today ! wonder if any of you entered. but if there is any pullbacks to RM 2.27, don’t hold back ! be confident.

AirAsia: Continue to hug, since gaped up and closed lower but still well supported. cut if break RM2.77

Salute: moved a bit but market still not sure about this stock. Supported at RM1.32 !! cut if break.

PWF:  Supports seems to be at this closing level of RM 0.730 after gap up.This one more towards midterm and can start collection at this level.

Hope for a good Friday with all the flying cows and BULLS ! MOOooooooo

——————————————————————————–

Dzulhilman M+ WM PR Traders:
Salam and Morning All

MACRO : U.S. stocks climbed on Thursday, with big tech names leading broad gains, building on strength from a day earlier that was fueled by the Federal Reserve’s decision to stand pat on interest rates (investing. com). Brent oil is

MICRO :  Ringgit strengthens against USD strongly. Index rebounded strongly yesterday.

WHAT TO EXPECT? : Market looks good to go some more. However profit taking should follow either end of today or early next week. It will be short term. Once profit taking subsides, market should continue. Strong FA’s counters should be in your portfolio list.

Below are my Watch list (23/09/2016)

TOPGLOV
EP : ABOVE 4.790
SL : BELOW 4.730
TP :  5.190

CSCENIC
EP : ABOVE 1.750
SL : BELOW 1.710

————————————————————–

U.S. stocks closed higher on Thursday, with the Nasdaq having another record-setting session, as investors digested several economic data releases while processing the Federal Reserve’s latest monetary policy decision.
* Dow +98
* S&P +14
* Nasdaq +44

⛽ Oil prices rose about 2% after a surprise U.S. crude inventory drop and ahead of talks next week between OPEC and other oil producers on curbing oversupply. Oil got an additional lift from a drop in the dollar to its lowest against the yen in four weeks after the U.S. Federal Reserve kept monetary policy unchanged and signaled rates may rise more slowly than it had previously expected.
* Crude oil $46.32 (+0.98)
* Brent crude $47.63 (+0.80)

€ European stocks closed sharply higher as global stocks rallied after the Fed refrained from raising interest rates on Wednesday.

USD/JPY posted a 2-1/2 week low before it recovered.

Gold nears high as the U.S. Federal Reserve signaled an interest rate increase by the end of the year after policy was kept unchanged in September, as expected. Gold futures for December deliverysettled $13.30 higher at $1,344.70 per ounce.

FCPO (RM2725, +48) closed higher on strong support in the late afternoon. Buying followed the MPOA  report of unchanged production for 1-20 September vs a month ago. This will result in tight supply as stock will be reduced further. Unless export demand slow, bullish trend may continue. Market was trading easier as strong ringgit and lack of fresh factors. Market will be looking towards the market analysts comment on Global Conference today for further incentives.

—————————————————————————-

KLSE OUTLOOK FOR 23-09-2016: MALAYSIAN STOCKS RALLIED AFTER THE FED OPTED NOT TO RAISE INTEREST RATES FOR ANOTHER MONTH – BY FRED TAM

Dear all,

Our FBM-KLCI closed higher by 10.95 points or 0.66% at 1669.66. Gainers beat losers by 529 to 313.

Yesterday’s rebound on the KLCI caught market bears by a big surprise. Many had expected that the Federal Reserve would raise interest rates, which in turn would scuttle the Dow and global stock markets come Thursday.

But contrary to big bears expectation, the Nasdaq posted a new record close and the S&P 500 and Dow rallied after the Fed opted not to raise interest rates for another month. “Fed Chair Janet Yellen reiterated a cautious approach to future rate increases, even though she argued that the case for an interest rate hike had strengthened,” reported www.kitco.com.

Yesterday saw the Malaysian stock index futures and KLCI opened 10 points and 5 points higher respectively before closing the day at its best level in a week. If the KLCI closes above 1672 today, we would have the pleasure of re-classifying our KLCI back to “bullish mode”. (Note that 1672 is the 200-EMA line separating the bulls from the bears).

Not surprisingly, our TAD stocks featured strongly in yesterday’s market rebound. Of these stocks, the strongest came from Government Linked Companies (GLC) like FGV, DRBHCOM, MRCB, MMCCORP, SIME, POS, UEMS. Their respective warrants did even better.

We were right in our call to over-weight GLCs, for instance, FGV. We made a first buy call on FGV in our 21/6/2016 issue of our newsletter, after our F1-TAD trading system triggered a buy signal on 7/6/2016 @ 1.38/1.52. A second buy call came on 18/7/16 @ 1.67, a third on the 2/8/16 @ 1.82, and so on.

Till today we are still over-weighting FGV. Our targets for FGV are 2.85-2.94 and 3.30-3.37 respectively and these targets were made on the same issue dated 21/6/2016. We are standing by these target levels. But as FGV rises towards these targets we would suggest reducing positions and scale out gradually. This scaling out of positions as price rise further applies to all the stocks suggested herein. Besides knowing when to buy, you need to know when to sell too – and one technique is to sell on rallies as they near our targets.

New and existing stocks-to-watch for today are: (available in our detailed newsletter).

Stocks that are in danger of correcting are: (available in our detailed newsletter).

We expect crude oil to recover, and that could bring back life in oil stocks like SKPETRO and THH.

We are bullish on crude palm oil and expect further rallies to test 2970. This commodity bull will help FGV tremendously.

We expect FKLI stock index futures to recover in tandem with the Dow. We expect Dow to rebound to test old highs to make new highs and along with it, our KLCI.  But up to now, we remain very selective on the stocks to pick within the index linked counters.

TGIF. Have a great Friday, happy trading and a nice weekend.

P.S. This weekend, Mr. Nicholas Tan will be here for a two-day workshop entitled “Maximising Stock Profits with Ichimoku and Heikinashi charts”. Venue: Renaissance Hotel, Kuala Lumpur. Time: 9am-5pm. Fee: RM3,000.00. Those who would like to join us, please call Theena at 010-7693731.

Best regards,

Fred Tam
MFTA(USA), M. Phil(MMU)., MSTA(UK).,
CFTe.(USA)., ACCA(UK)
Principal Lecturer of Asia-e-University-PCFTA-EMBA Course
Malaysia’s First Recipient of the Master of
Financial Technical Analysis (IFTA-USA)

F1 Academy of Technical Analysis
Block B, Floor 23A-17, The Scott Garden
Scott Soho Duplex Suite, 289, Jalan Klang Lama
58000 Kuala Lumpur
Contact No:03-7972-4090
Website:www.f1traderacademy.com
www.fredtambookstore.com
www.fredtamnewsletter.com

All rights reserved. The above message contains information which may be confidential or privileged to Fred Tam’s subscription list. If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the contents of this information is prohibited. If you have received this transmission in error, please notify the sender immediately or contact Fred Tam at fredtam6@gmail.com.

————————————————-

BURSA MALAYSIA MARKET IDEAS FRIDAY (23/09/2016):

FBMKLCI REBOUND AND GORENG GLC COUNTER

Dear All,

The FBMKLCI closed higher at +10.93 point or +0.66% to close at 1669.66.

Yesterday our FBMKLCI strong rebound which mentioned last few day and the market reflect bullish and positively on FOMC and BOJ meeting.

DJIA also turn back to previous sideways level, which is really amazing. Seems to be no one wanna let it fall further. Since market back to bullish, we just ride on, however I have to say the market go more crazy, then we also don’t become too careless.

Yesterday we call some GLC stock before noon closing like MRCB, UEMS, both doing well, and MBSB also join the party. I hope the party can last longer, or at least till Budget 2017 chair next month.

Follow us, we will not simply give any stock picks everyday :
https://telegram.me/ltachannel !

Once the show start, don’t let it end until it become glory this Friday !

“Goreng Tetap Goreng” !

Yours Sincerely,
Logic Trading Analysis

—————————————————

Dear trader,
Potential stock to buy today:
23/9/2016

1) Dufu(7233)
Entry Price : 0.64
Target price: 0.70/0.75
Cut loss: 0.575
***syariah

2) Econbhd(5253)
Entry Price : 1.67
Target price: 1.90
Cut loss: 1.43
* syariah

3) Bonia(9288)
Entry Price : 0.625
Target price: 0.705
Cut loss: 0.555
* syariah

4) Eforce (0065)
Entry price: 1.58
Target Price: 1.87
Cut loss: 1.45
* Non-syariah

5) NWP (5025)
Entry price: 0.300
Target Price: 0.34
Cut loss: 0.27
**Syariah

6) Matrix (5236)
Entry price: 2.57
Target price: 2.80
Cut loss: 2.37
** Syariah

Source: RHB Research Institute

Views – 114

Reuters- Wall Street racked up gains on Wednesday after the U.S. Federal Reserve kept interest rates unchanged, for now leaving intact the low-rate environment that has helped underpin the bull market.

The Nasdaq closed at a record high.

The central bank strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further.

Earlier on Wednesday, global markets reacted to the Bank of Japan’s abrupt shift to targeting interest rates on government bonds to achieve its elusive inflation target.

Traders generally had not expected the Fed to raise rates, with bets before the meeting of only an 18 percent chance of a hike, according to the CME FedWatch website.

“There was just a little bit of doubt in everybody’s mind that maybe they would go ahead and raise rates now and that got cleared up … people felt free to put some money into equities,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.

“Couple that with the BOJ lower-for-longer news story from earlier today and the equity market is doing well,” Tuz said.

The Dow Jones industrial average rose 163.74 points, or 0.9 percent, to 18,293.7, the S&P 500 gained 23.36 points, or 1.09 percent, to 2,163.12 and the Nasdaq Composite added 53.83 points, or 1.03 percent, to 5,295.18.

—————————————————————————————————-
Logic Trading Analysis:
BURSA MALAYSIA MARKET IDEAS THURSDAY (22/09/2016):

FBMKLCI FINDING A NEW THEME (BUDGET 2017)

Dear All,

The FBMKLCI closed higher at +2.95 point or +0.18% to close at 1658.73.

Yesterday our FBMKLCI slightly green closing and moving sideways. At least showing positive sign for our market.

DJIA Futures react positively on BOJ policy, and also remain positive before FOMC meeting. So far everythings look fine. Hopefully no sudden crash down again and slowly pointing upward again.

Yesterday is a good day goreng day starting to see more goreng mood come back again. But mostly on Metal stocks. And of course MYEG, PENSONI our past two day picks doing pretty awesome.

As for today, we will monitor some of the stock like: TUNEPRO, INARI, OLDTOWN, and a few other.

Be be Cutie cat and not the Escape mouse this Thursday  !

“Goreng Tetap Goreng” !

Yours Sincerely,
Logic Trading Analysis

————————————————————————-
TheBursa Analyst:
Thursday, 22 September 2016

ATTN: ALL Bursa Traders,

The FBMKLCI closed higher, recovering after lunch at 1658.73 (+2.95or +0.18%). It seems that the KLCI is quite bullish and after a hammer, we have a white candlestick normally as confirmation of bearish reversal. Lets hope that the KLCI can maintain its bullishness back to 1680.

Meanwhile, our neighbouring market outlook for the day are:

•  Australia S&P/ASX200 closed higher at 5,280.51 (+36.13 or +0.69%)
•  China A50 closed higher at 9,610.30 (+14.47 or +0.15%)
•  Hong Kong HSI closed higher at 23,669.9 (+139.04 or +0.59)
•  Indonesia’s IDX Composite closed higher at 5,342.59 (+40.1 or + 0.76%)
•  Japan’s Nikkei Closed higher at 16,807.62 (+315.47 or +1.91%)
•  South Korea KOSPI closed higher at 2,035.99 (+10.28 or +0.51%)
•  Taiwan Weighted closed higher at 9,228.50 (+66.93 or 0.73%)

•  The USD opened weaker against our MYR at 4.132 but is continue to climb as of now.
•  Crude Oil prices closed higher at 44.05.

DJIA closed at 18,129.96 and opened high at 18,164.96.

All our neighboring markets are very bullish including out KLSE. Today we will know the FOMC outcome. From market reaction, seems like there will be no interest rate hike, mainly due to weaker economy data from the USA. Also look at all the markets !! either they are no fear against the FOMC outcome or they are just reacting happily from BOJ maintaining -0.1%

Stocks to watch are:

SIGN: this company makes household stuffs. Can monitor. Cut if break RM 0.925.

I am bullish on iqgroup, funny nobody want to sell. Wait until all the weak shareholders are being kickoff the boat then we shall set sail !
IQGROUP: strongly supported at RM2.27. I think it is hard to wait at RM 2.18, more realistically hope break the RM 2.27 support which then will break to RM2.21 is a ideal entry for those who have yet to grab the ticket.

Stocks follow up :

AirAsia: A harami formed ! those who got this just ride back to RM 2.94. cut if break RM2.77

Salute: hammer formed on the support of RM1.32 !! more to come.

VS: healthy correction. Support formed on RM1.37 and can consider to enter on support. Cut if Support is broken.

PWF:  Closed at RM 0.730 This one more towards midterm and can start collection at this level.

————————————————————————————-
Dzulhilman M+ WM PR Traders:
Salam and Morning All

MACRO : Wall Street racked up gains on Wednesday after the U.S. Federal Reserve kept interest rates unchanged, for now leaving intact the low-rate environment that has helped underpin the bull market (investing. com).  Oil is up by 2% after OPEC talks with non-OPEC to stabilise oil price.

MICRO :  Ringgit is strengthens against USD strongly. Index rebounded slightly yesterday as expected. Budget talk is coming next month.

WHAT TO EXPECT? : Market looks good to have a rebound and retest 1700 level. Traders might want to long on selected counters, mainly with good FA’s and government linked as nation budget is coming next month. Usual suspect are the likes of FGV DSONIC MRCB UEMS MYEG and the likes. Please study them and make your own informed decision.

Below are my Watch list (22/09/2016)

TNLOGIS
EP : ABOVE 1.650
SL : BELOW 1.610
TP :  1.880

DSONIC
EP : ABOVE 1.540
SL : BELOW 1.490
TP :

—————————————————————-

Trading Ideas Bursa Malaysia:
UOBKH Retail Market Monitor 22 September 2016

FBMKLCI 1,658.73 (+2.95,+0.18%)
Support: 1,648, 1,640
Resistance: 1,692, 1,700

The index rose on a technical rebound, buoyed by positive sentiment in
the overnight US market.

Top Gainers: Genting Malaysia (+4.2%), YTL Corporation (+2.3%) and
Genting Bhd (+1.9%)
Top Losers: British American Tobacco (-2.6%), Axiata Group (-1.7%) and
IHH Healthcare (-1.4%)

Bursa Trade Statistics (RM):
Local Institutions (59.50%): net Sell RM187.30 million
Local Retail (16.60%) net Buy RM0.10 million
Foreign (23.90%) net Buy RM187.20 million

MSCI Asia Pacific Index (+1.40%)
S&P500 2,163.12 (+1.09%)
DJIA 18,293.90 (+0.90%)

USDMYR 4.1008
SGDMYR 3.0300

Crude Oil $45.34
Gold $1,331.40

On Wednesday, US stocks rallied after the US Fed opted to keep
interest rates unchanged as it sought further evidence of economic
strength. The policy-setting FOMC, in a 7-to-3 vote, opted to keep
rates steady in what Chairwoman Janet Yellen described as a “new
normal” as central banks elsewhere around the globe embark upon
quantitative-easing measures. Yellen also said she is “pleased with”
the health of the economy. The BOJ kept its deposit rate unchanged at
negative 0.1%. It also introduced a zero interest-rate target for
10-year government bonds, part of what analysts are calling “yield
curve control.” BOJ’s decision spurred a global equity rally,
including on Wall Street. Rising stocks outnumbered declining ones on
the NYSE by 2,680 to 518 and 51 ended unchanged.

Stocks to watch:
1) COMINTEL CORPORATION; Technical Buy with +28.2% potential return
*Last: RM0.905 Target: RM1.07, RM1.16 Stop: RM0.795
*Timeframe: 2 weeks to 2 months

2) KHEE SAN; Technical BUY with +22.1% potential return
*Last: RM0.815 Target: RM0.930, RM0.995, Stop: RM0.745
*Timeframe: 2 weeks to 2 months

3) DENKO INDUSTRIAL CORPORATION; Technical BUY with +28.8% potential return
*Last: RM0.365 Target: RM0.440 RM0.470, Stop: RM0.310
*Timeframe: 2 weeks to 2 months

—————————————————————
Trading Ideas Bursa Malaysia:
NOORHASNIZAM BIN HASSAN:
M+ Online Morning Buzz – 21Sep16

Dow Jones: 18,129.96 pts (+9.79pts, +0.05%)
U.S. stockmarkets trended sideways and ended marginally higher ahead of the FOMC meeting, awaiting the decision from the Fed regarding the interest rate move.

FBM KLCI: 1,655.78 pts (+4.07pts, +0.25%)
The FBM KLCI rebounded near the 1,640 level, forming a hammer candle. The FBM KLCI may rebound towards the resistance zone near the 1,660-1,670 levels.

Crude Palm Oil: RM2,693 (+RM51, +1.93%)
Crude palm oil price trended higher towards the RM2,700 level amid weaker Ringgit, coupled with the gains in soybean oil.

WTI Crude Oil: $44.05 (+$0.75, +1.76%)
Crude oil trended slightly higher as American Petroleum Institute reported that crude stockpiles declined 7.5 mln barrels last week.

Gold: $1,314.84 (+$1.65, +0.13%)
Gold rose marginally overnight awaiting the decision by the Fed on the interest rate outlook. Trading range will be located between the US$1,310-US$1,320 levels.

Bursa Malaysia Trade Statistics – 20Sep16
Institutions:  Net SELL 157.0 mln (57.5%)
Retail:  Net BUY 13.3 mln (16.0%)
Foreign:  Net BUY 143.7 mln (26.5%)

Potential Momentum Stocks – 21Sep16
Stock Name: RCECAP (9296)
Entry: Buy above RM1.20
Target: RM1.30 (8.3%), RM1.40 (16.7%)
Stop: RM1.12 (-6.7%)
Shariah: No
Technical: Resistance breakout

Stock Name: MRCB (1651)
Entry: Buy above RM1.32
Target: RM1.50 (13.6%), RM1.60 (21.2%)
Stop: RM1.22 (-7.6%)
Shariah: Yes
Technical: Sideways consolidation breakout

Source: Bloomberg, M+ Online

————————————————————–

 

Views – 68

Maybank Kim Eng: Before the bell (20 Sep 2016)

US economic indicators:
Housing starts for Aug (est: 1.190m, prior: 1.211m)
Building permits for Aug (est: 1.165m, prior: 1.144m)

Key earnings releases:
Lennar Corp, Adobe Systems, FedEx

What to watch:
Key Asian markets closed on a slight downbeat note, as investors braced for key monetary policy decisions from BoJ and the Fed in mid-week. The Nikkei 225 (-0.2%), Shanghai Composite (-0.1%) and Hang Seng Index (-0.1%) ended a tad lower.

Meanwhile in Europe, the Stoxx 600 reversed early losses to trade flat, defying negative sentiment from a retreat in oil prices amid comments from Venezuela’s Oil Minister, which suggested that the global crude market is oversupplied by 10%.

As for US, index futures are pointing for market to head north at the opening bell.

Corporate news:
*General Electric: Plans to invest US$10b in Argentina over the next 10 years by building seven power plants totalling 1GW in capacity. This follows recent ventures with local partners to construct thermal power plants (US$900m) and finance aircraft purchases (US$280m).

*Unilever: Acquiring Seventh Generation, a sustainable cleaning products maker, for a reported US$700m. The target has sales in excess of US$200m in 2015. This is part of an attempt by the group to win market share from millennials who tend to seek out environmental friendly brands.

*FedEx: Announced plans to raise shipping rates by about 3.9-4.9% next year. The logistics group will be releasing 1QFY17 earnings after market, with the street forecasting EPS of US$2.78 (+14.9%) and revenue of US$13.81b (+12.5%), mainly driven by growth in the e-commerce sector.

Pre-market movers:
Winners: Chesapeake Energy, Murphy Oil, Wynn Resorts, Micron Technology
Losers: NextEra Energy, FirstEnergy, Delta Air Lines, Kinder Morgan

For stock ideas and market flows, access Market Insight on Maybank Investment Bank http://bit.ly/1dsTxV9 and Maybank KE Trade SG mobile apps https://appsto.re/us/OY-Kw.i. Download from Apple Store and Google Play now.

Stay Ahead, Trade Smart

—————————————–

The Trusted Bursa Analyst:
Wednesday, 21 September 2016

ATTN: ALL Bursa Traders,

The FBMKLCI closed higher, recovering after lunch at 1655.78 (+4.07 or +0.25%). However do not be fooled by the index as the climb are mostly due to Petronas linked counters which I think will not be sustainable.

Meanwhile, our neighbouring market outlook for the day are:

• Australia S&P/ASX200 closed higher at 5,244.38 (+8.75 or +0.17%)
• China A50 closed lower at 9,595.83 (-25.9 or -0.27%)
• Hong Kong HSI closed lower at 23,530.86 (-19.59 or -0.08%)
• Indonesia’s IDX Composite closed lower at 5,302.49 (-19.35 or -0.36%)
• Japan’s Nikkei Closed higher at 16,492.15 (-27.14 or -0.16%)
• South Korea KOSPI closed higher at 2,025.71 (+9.93 or +0.49%)
• Taiwan Weighted closed higher at 9,161.58 (+8.70 or + 0.17%)

• The USD STRENGHTEN against our MYR at 4.1432 (+0.0118 or +0.29%)
• Crude Oil prices closed at 43.37 (-0.49 or -1.12%)

DJIA closed slightly at 18,120.17 (-3.63 or -0.02%). The DJIA seems to be supported above level 18,004 after the big drop from previous level during 8 September 2016.

Also bear in mind the FOMC rate decision is around the corner and the outcome of the meeting will greatly affect the market sentiments ! most traders are on the sideline due to this reason ! !

Stocks to watch are:

AirAsia: Bigfall today, I am convinced that they will fall until RM 2.66 before rebound back to RM2.77.

Salute: is on a uptrend and today’s closing price despite seller heavier than buyer, but it did not break the most recent support of RM 1.32. Well rested on the support, might consolidate for a few days before continuing climbing mount Everest ! ! !

VS: Close high today. Watch for breakout of RM1.4 and will fill previous gap to RM1.42. Cut if close RM 1.37 or lower.

I am bullish on iqgroup, first day washing start already. Wait until all the weak shareholders are being kickoff the boat then we shall set sail !
IQGROUP: Possible to reach RM 2.5. Monitor these few days to wait for possible pullbacks only enter.
best entry point at :Support 1: RM 2.25, Support 2: RM2.15

PWF: A Healthy Correction ! Drop to Support at 0.735-0.730 level then Can start collecting at this level.
Get your information right to avoid being fooled by the market !

Follow Your Trusted Bursa Analyst Channel for stockpicks and daily update.
https://telegram.me/Trusted based

—————–—-—————-

BURSA MALAYSIA MARKET IDEAS WEDNESDAY (21/09/2016):

FBMKLCI READY FOR A REBOUND

Dear All,

The FBMKLCI closed higher at +4.07 point or +0.25% to close at 165.78.

Yesterday our FBMKLCI finally stop falling and turn green at closing with a long hammer. It’s a good sign for rebound.

DJIA tonight remain positive and so far doing well after last few week big drop. As long as maintain did not fall lower, we see our market will get more alive.

Congratulation on MYEG as one of the stock picks Meletup big yesterday.

As for today We are looking at PENSONI that just breakout and seem ready to up up all the way. So Monitor Closely.

—————————————————————-

[21/09 08:51] Rosdi maybank: Global Closing @ 20/9/16

Dow. 18,130 +9.79 0.05%
NASD 5,241 +6.33 0.12%
S&P 2,140 +0.64 0.03%

Gold 1,318
WTI 44.05
Brent 46.12

USDMYR 4.135
EURUSD 1.115
GBPUSD 1.299
GBPMYR 5.372
AUDMYR 3.126
SGDMYR 3.038

FTSE 6,831 +17.24 0.25%
DAX 10,394 +19.99 0.19%
CAC 4,389 -5.59 0.13%

Nikkei 16,492 -27.14 0.16%
HSI. 23,531 -19.59 0.08%
SSE 3,023 -3.05 0.10%
STI 2,855 +2.55 0.09%
KLCI 1,655.78 +4.07 0.25%

World stock indexes were flat on Tuesday as investors awaited the outcomes of Federal Reserve and Bank of Japan policy meetings that will conclude on Wednesday.

*****************
CORPORATE NEWS

~*PMETAL* is teaming up with China-based Sunstone Development Co Ltd to jointly invest in a joint venture company (JVCo) to be incorporated in China.

~*DNEX*, the service provider for the Royal Malaysian Customs Department’s National Single Window for trade facilitation, has secured from the Malaysian government a two-year extension to its contract for managing the service.

~*KESM* fourth quarter net profit ⬇ 23% to RM8.05 million or 18.7 sen per share, from RM10.45 million or 24.3 sen per share a year earlier, due to higher staff costs and other expenses.

~*CLIQ* major shareholder, Best Oracle Sdn Bhd, has agreed to discontinue its appeal against the High Court’s decision to dismiss its application to strike out CLIQ’s liquidation application.

~*EKOVEST* said it has today requested the suspension of its share trade tomorrow, pending a material announcement.
[21/09 08:53] Rosdi maybank: KLSE OUTLOOK FOR 21-09-2016: OUR MARKET IS EXPECTED TO REMAIN SLUGGISH UNTIL AFTER YELLEN’S PRESS CONFERENCE – BY FRED TAM

Dear all,

Our FBM-KLCI closed higher by 4.07 points or 0.05% at 1655.78. Losers beat gainers by 418 to 344.

This was the KLCI’s first bullish close after a 5-day losing streak but overall market breadth is still negative.

Funds are still reluctant to commit ahead of the Federal Reserve Committee meeting set for two days on Tuesday, culminating in an announcement, forecasts and press conference from Fed Chair Janet Yellen on Wednesday afternoon, New York time.

The chances of the Fed raising rates in September have fallen since more bearish data came out of the U.S. last night. Housing construction fell below estimates in August as recovery in the housing sector came in fits and starts. Housing starts fell 5.8% from July, coming in at a seasonally adjusted annual pace of 1.14 million, according to the Commerce Department.

Our market is expected to remain sluggish until after Yellen’s press conference. However, our TAD system had managed to pick out some winners even in this bear market.

New and existing stocks to watch for today are: available in our detailed newsletter These two stocks should be watched closely as they already triggered TAD buy signals. Note their targets based on technical analysis.

FCPO gapped up to close higher by 48, at 2690. We saw a “breakaway” gap yesterday. This suggests a powerful up-move in the coming days and weeks. Be ready.

FKLCI remained bearish but has formed a triple doji at the bottom, signaling a possible bullish reversal.

Attached herein is a list of stocks with EMA 50 and EMA 100 support lines. Please note that these are your estimated stop loss levels. Should price of your stock goes below its 50 EMA or 100 EMA, be careful-these are your cut loss areas. Note that when a stock is climbing up “Mount Kinabalu” these EMA 50/EMA 100 support lines cannot function effectively. You will need to shift to 1,2 cha cha cha rule to handle these climbs.

All the best for a fantastic Wednesday, and as always happy trading.

P.S. congrats to all our students who had passed Paper 1 of the STA exams! We scored a 78% success rate.

Best regards,

Fred Tam+++++++++++++++++++++++++++++++

[21/09 08:53] Rosdi maybank: Source: Theedgemarket Press Metal Bhd is teaming up with China-based Sunstone Development Co Ltd to jointly invest in a joint venture company (JVCo) to be incorporated in China.

The JVCo shall be known as Shandong Sunstone & PMB Carbon Ltd, and Press Metal will hold a 20% stake with the remainder to be controlled by Sunstone Development.

Press Metal said the JVCo shall principally engage in the manufacturing of pre-baked carbon anodes, which will be supplied to Press Metal’s units, Press Metal Sarawak Sdn Bhd and Press Metal Bintulu Sdn Bhd, its bourse filing revealed.

Dagang NeXchange Bhd (DNeX), the service provider for the Royal Malaysian Customs Department’s National Single Window for trade facilitation, has secured from the Malaysian government a two-year extension to its contract for managing the service.

The two-year extension, which starts from Sept 25 this year and ends on Sept 24, 2018, was secured via its wholly-owned subsidiary Dagang Net Technologies Sdn Bhd.

Under the contract extension, the service charge to be imposed by DNeX will remain unchanged at 75 sen per kilobyte for government agencies, 80 sen per kilobyte for the private sector, and RM5 per approved permit and certificate of origin application, DNeX said in a statement.

KESM Industries Bhd’s fourth quarter net profit fell 23% to RM8.05 million or 18.7 sen per share, from RM10.45 million or 24.3 sen per share a year earlier, due to higher staff costs and other expenses.

Revenue for the quarter ended July 31, 2016 (4QFY16) rose 8.1% to RM74.53 million from RM68.94 million, driven by higher demand for burn-in and test services.

The electronic component testing specialist group, in a filing to Bursa Malaysia, proposed a three sen dividend amounting to RM1.29 million.

CLIQ Energy Bhd’s major shareholder, Best Oracle Sdn Bhd, has agreed to discontinue its appeal against the High Court’s decision to dismiss its application to strike out CLIQ’s liquidation application.

“After hearing both parties, the Deputy Registrar ordered the appeal (to) be discontinued with no order as to cost,” CLIQ said in a bourse filing.

Separately, the High Court fixed Sept 26 for a decision on the petition to wind up CLIQ, after hearing arguments from lawyers for CLIQ and Best Oracle.

Best Oracle had in April filed a judicial review to prevent the special purpose acquisition company from being liquidated. It named the Securities Commission Malaysia and CLIQ as respondents.

Trading in construction outfit Ekovest Bhdwill be suspended tomorrow.

In a filing with Bursa Malaysia, Ekovest said it has today requested the suspension of its share trade tomorrow, pending a material announcement.

+++++++++++++++++++==

Brief background of PTB
New IPO Price RM0.15

Perak Transit Group is principally involved in the operations of the Terminal AmanJaya integrated public transport terminal and the provision of public bus services.

The group also operates four petrol stations comprising two Shell petrol stations in Lahat and Tanjung Rambutan, a BHP petrol station located at Terminal AmanJaya and a Petron petrol station in Lubok Merbau.

Located in Bandar Meru Raya, Ipoh, Terminal AmanJaya is a three-storey complex that has bus platforms, bus holding bays, ticketing counters, retail space, office space, promotional space, a budget hotel, as well as a lobby and basement car park.

The group’s major operations within the terminal include ticketing sales, bus and passenger traffic control, travel information counters, rental of retail, commercial space and promotional facilities, indoor and outdoor advertising, project facilitation, petrol station, security services and car park facilities.

Terminal AmanJaya is the only gazetted express bus terminal in Ipoh.

++++++++++++++++++

House of Technical Idea (21/09/2016)

FBMKLCI 1655.78 (+4.07, +0.25%)
Support: 1650
Resistance:  1660, 1700, 1730

Market Overview:
Market is volatile ranging from 1650-1680.

1) Stock Name: MBL
Entry:  ABOVE RM1.060
Target: RM1.150
Stop:  BELOW RM1.030

2) Stock Name: RCECAP
Entry:  ABOVE RM1.210
Target: RM1.380
Stop:  BELOW RM1.180

+++++++++++++++++++++++=====

[09:24, 9/21/2016] Rosdi maybank: KLSE StockAlliance:
21/9/2016 Stock Picks
1. SUNSURIA / HAIO / PESTECH
2. PENSONIC / MBL / FLBHD
3. HEXZA / MMODE / CLIQ
[09:37, 9/21/2016] Rosdi maybank: Dzulhilman M+ WM PR Traders:
Salam and Morning All

MACRO :  Wall Street ended little changed on Tuesday as healthcare gains countered declines in energy shares, a day before highly anticipated outcomes of monetary policy meetings in the United States and Japan (investing. com).

MICRO :  Ringgit is hovering at 4.130 area while awaiting monetary policy which we will know on Thursday. Index rebounded slightly yesterday as expected.

WHAT TO EXPECT? : Market seems to continue short term rebound. Traders might want to put on short trading cap as volatility plays in the market. Buy on weakness and sell on strength always work well during market condition like this.

Below are my Watch list (21/09/2016)

OKA
EP : ABOVE 1.340
SL : BELOW 1.320
TP :  1.450

HSSEB
EP : ABOVE 0.575
SL : BELOW 0.560
TP :

++++++++++++++++++

[09:38, 9/21/2016] Rosdi maybank: BURSAMASTER:
BURSAMASTER:
Counters to monitor 21 Sep 2016

1.  EATEACH
2.  VS & VS -WA
3.  DNEX & DNEX-WA
4.  GTRONIC
5.  SAMCHEM
6.  FGV &  CALL WARRANTS
7.  POS &  CALL WARRANTS

+++++++++++++++++++++

Dear trader,
Potential stock to buy today:
21/9/2016

1) PENTA (7160)
Price now: 1.27
Target price: 1.40
Cut loss: 1.14
***syariah
TECHNOLOGY

2) MRCB(1651)
Price now : 1.34
Target price: 1.48
Cut loss: 1.22
* syariah
PROPERTY

3) GKENT(3204)
Price now : 2.43
Target price: 2.70
Cut loss: 2.13
* **Syariah
TRADING/SERVICES
EX-DATE for bonus 1:4 on 19/9/2016

4) DRBHCOM(1619)
Price now: 1.43
Target Price: 1.55 / 1.68
Cut loss: 1.31
* Syariah
INDUSTRIAL PRODUCT

5) INSAS(3379)
Price now: 0.73
Target price: 0.79 / 0.825
Cut loss: 0.68
**non-syariah
FINANCE

6) FLBHD(5197)
Price now: 1.62
Target price: 1.79
Cut loss: 1.44
**non-syariah
INDUSTRIAL PRODUCT

 

Views – 83

Reuters – A see-saw session on Wall Street on Monday ended little changed, with gains in big bank stocks offsetting a drag from Apple, as investors braced for the Federal Reserve meeting later this week.

The Fed is expected to leave interest rates unchanged at the two-day meeting, but investors will assess Chair Janet Yellen’s speech on Wednesday to see if the central bank plans to hike as soon as December.

After trading solidly higher during the morning, the benchmark S&P 500 pulled back and slid briefly into negative territory. The index has tallied four daily moves of at least 1 percent in the past couple of weeks after two months of calm.

“The market has been all over the place. It’s been driven by the threat of higher interest rates,” said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa. “Most people feel the most unloved bull market in recent memory will be cut off at the knees by higher interest rates, and the Fed is certainly threatening that in the near term.”

The Dow Jones industrial average .DJI fell 3.63 points, or 0.02 percent, to 18,120.17, the S&P 500 .SPX lost 0.04 points, to 2,139.12 and the Nasdaq Composite .IXIC dropped 9.54 points, or 0.18 percent, to 5,235.03.

Traders are betting that there is only a 12-percent chance the Fed will raise interest rates this week, but see a 55-percent chance the central bank will do so in December, according to the CME’s FedWatch website.

Investors also are eyeing the Bank of Japan’s policy meeting on Tuesday and Wednesday, while the first debate of the U.S. presidential election is set for next Monday.

———————————————————————————————————-

TheBursa Analyst:
Tuesday, 20 September 2016

ATTN: ALL Bursa Traders,

The FBMKLCI closed lower at 1,651.71 (-1.28 or -0.08%). The immediate support for our KLCI if break 1651. 71 will be at 1642 level.
Meanwhile, our neighbouring market outlook for the day are:

•  Australia S&P/ASX200 closed lower at 5294.76 ( -1.94 or -0.04%)
•  China A50 closed slightly bullish at 9,621.73 (+64.28 or +0.67%)
•  Hong Kong HSI closed higher at 23,550.45 (+214.86 or +0.92%)
•  Indonesia’s IDX Composite closed higher at 5,321.84 (+54.072 or +1.03%)
•  Japan’s Nikkei Closed higher at 16,519.29 (+114.28 or 0.70%)
•  South Korea KOSPI closed higher at 2,015.78 (+16.42 or +0.82%)
•  Taiwan Weighted closed higher at 9,152.88 (+250.58 or +2.81%)

•  The USD Weakened against our MYR at 4.1209 (-0.0121 or -0.29%)

DJIA opened higher at 18,154.82 which is a good sign. The DJIA seems to be supported above level 18,004 after the big drop from previous level during 8 September 2016. Hopefully the DJIA will be maintained at this level to provide positive and calm sediment to the world market. Also bear in mind the FOMC rate decision will be known this 21st September.
Stocks to watch are:

IQGROUP:
Possible to reach RM 2.5. Monitor these few days to wait for possible pullbacks only enter.
Support 1: 2.25
Support 2: 2.15

PWF:
Support at 0.735-0.730 level. Can start collecting at this level.

Follow Your Trusted Bursa Analyst Channel for stockpicks and daily update.

https://telegram.me/TTrustedBA

Monday market was active, and then sleepy afterwards. We hope for a more uproar Tuesday market !

Iqgroup and pwf.. Be patient just monitor. Please don’t keep chasing high. I see possible pull back in a few days time ! Be patient to wait for the inpatient sellers !!!

———————————————————————————————-

KLSE StockAlliance:
20/9/2016 Stock Picks
1. SUNSURIA / HAIO / VERSATL
2. EITA / EKOVEST / MIKROMB
3. MINHO / MTDACPI / LBICAP

Stock Alliance
The information contained in this channel is for general information purposes only. Any reliance you place on such information is therefore strictly at your own risk.

——————————————————————————————-

Dzulhilman M+ WM PR Traders:
Salam and Morning All

MACRO :  World stock indexes climbed and the U.S. dollar weakened on Monday on expectations the U.S. Federal Reserve will leave interest rates unchanged after its policymakers meet this week, while oil prices surged from multi-week lows (investing. com).

MICRO :  Ringgit weakens while index tumbled to 1600 support. Momentum is still downwards with expectation of a short term rebound. However market remain active with lower volume.

WHAT TO EXPECT? : Generally market is unstable. Traders might want to put on short trading cap as volatility plays in the market. Buy on weakness and sell on strength always work well during market condition like this.

Below are my Watch list (20/09/2016)

PRESBHD
EP : ABOVE 2.240
SL : BELOW 2.180
TP :  2.450

DRBHCOM
EP : ABOVE 1.380
SL : BELOW 1.340
TP :  1.50
[09:11, 9/20/2016] Rosdi maybank: UOBKH Retail Market Monitor 20 September 2016

FBMKLCI 1,651.71 (-1.28,-0.10%)
Support: 1,640, 1,648
Resistance: 1,692, 1,700

Top Gainers: Genting Malaysia (+5.5%), Maxis (+2.2%) and KLCC Property
Holdings (+2.0%)
Top Losers: Digi.Com (-3.0%), Hong Leong Financial Group (-2.1%) and
Petronas Gas (-1.8%)

US stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely
watched central-bank policy meetings. Earlier in the session, gains in crude-oil futures and a report showing a surge in home-builder
confidence appeared to help lift the equity benchmarks, but those advances evaporated late in the day. Telecom and healthcare stocks weighed on the index, while utilities and financials led gainers. The DJIA closed down 3.63 points at 18,120.17. Meanwhile, the Nasdaq declined 9.54 points, or 0.2%, to close at 5,235.03.

Stocks to watch:
1) YGL CONVERGENCE; Technical Buy with +32.1% potential return
*Last: RM0.120 Target: RM0.185, RM0.215 Stop: RM0.095
*Timeframe: 2 weeks to 2 months

2) PRESTARIANG; Technical BUY with +19.2% potential return
*Last: RM2.24 Target: RM2.59, RM2.79, Stop: RM2.13
*Timeframe: 2 weeks to 2 months

3) SCGM; Technical BUY with +10.0% potential return
*Last: RM3.23 Target: RM3.59 RM3.64, Stop: RM3.09
*Timeframe: 2 weeks to 2 months
[09:12, 9/20/2016] Rosdi maybank: House of Technical Idea (20/09/2016)

FBMKLCI 1651.71 (-1.28, -0.08%)
Support: 1640, 1650
Resistance:  1700, 1730

Market Overview:
Market is hugging the lower Bollinger Band signifying a momentum in a downtrend.

1) Stock Name: PENTA
Entry:  ABOVE RM1.21
Target: RM1.27
Stop:  BELOW RM1.19

2) Stock Name: MEXTER
Entry:  ABOVE RM0.30
Target: RM0.375
Stop:  BELOW RM0.25
[09:13, 9/20/2016] Rosdi maybank: Market News Roundup

1⃣ Sona said Lim San Peen and Datuk Mohd Anwar Yahya of PwC have been appointed joint liquidators of the SPAC.

2⃣ Iris plans to tie up with a China-based property developer-Qingjian International to undertake its 1Malaysia Civil Servants Housing (PPA1M) project in Putrajaya.

3⃣ IHH said its indirect wholly-owned subsidiary, Parkway Pantai Ltd, has accepted a multi-currency banking facility that amounted to RM5.44b.

4⃣ AirAsia has set up a subsidiary in Singapore, which will enable it to provide airlines operation services and aviation related management services in the country.

5⃣ Poh Huat is buying a detached warehouse cum office-showroom in South Dandenong, Victoria, Australia for A$4.25m (RM13.27m) cash, to expand its business to Australia.

6⃣ DiGi fell 3.02% to close at RM4.81 on news that its Norwegian parent planned to reduce its stake.

7⃣ Maxis’s indirect shareholder Saudi Telecom Co was reported to be exploring options for its stake by market value.

8⃣ NWP is confident that it will succeed in its new venture into the construction sector, making it the group’s main revenue contributor in the next few years.

Financial Result Highlight

BJToto net profit fell 18.9% to RM58.74m (4.36 sen/share) in 1QFY17, mainly due to the results of H.R. Owen Plc as well as the forex effect.

Sources: theedgemarkets.com ; thestar.com

 

Views – 61