M+ Online Morning Buzz – 29Sep16*

*Dow Jones: 18,339.24 pts (+110.94pts, +0.61%)*
U.S. stockmarkets extended their gains after the surprise move from OPEC agreement to curbs on production. Next resistance will be located around the 18,400 level.

*FBM KLCI: 1,664.96 pts (+0.24pts, +0.01%)*
The FBM KLCI could extend its gains, taking cue from the positive developments in Wall Street overnight coupled with the rally in crude oil prices. Upside target might be envisaged around the 1,680 level.

*Crude Palm Oil: RM2,605 (-RM58, -2.18%)*
Crude palm oil price extended its losses in anticipation of an increase in output production coupled with rising soybean production. The immediate support is pegged near the RM2,500 level over the near term.

*WTI Crude Oil: $47.05 (+$2.36, +5.33%)*
Crude oil rallied above the US$47 level after OPEC members have agreed to cut production for the first time in eight years. Crude oil may rally towards the US$50 levels.

*Gold: $1,321.54 (-$5.79, -0.44%)*
Gold fell to a one-week low on the back of stronger US dollar and mixed views on the potential interest rate hike in December.

*Economic Releases:*
Eurozone – Business Confidence – 29Sep16, 5.00PM
US – 2Q2016 GDP Growth Rate – 29Sep16, 8.30PM

*Bursa Malaysia Trade Statistics – 28Sep16*
Institutions: *Net BUY* 39.4 mln (60.9%)
Retail: *Net SELL* 7.6 mln (14.9%)
Foreign: *Net SELL* 31.8 mln (24.2%)

*Potential Momentum Stocks – 29Sep16*
*Stock Name: WASEONG (5142)*
Entry: Buy above RM0.885
Target: RM0.94 (6.2%), RM1.00 (13.0%)
Stop: RM0.855 (-3.4%)
Shariah: No
Technical: Potential T+4 formation breakout

*Stock Name: TALIWRK (8524)*
Entry: Buy above RM1.50
Target: RM1.60 (6.7%), RM1.71 (14.0%)
Stop: RM1.45 (-3.3%)
Shariah: Yes
Technical: Potential consolidation breakout

_*Source: Bloomberg, M+ Online*_

+++++++++++

TraderL:
STOCK WATCH ( 29/9/16, THURSDAY)
1.) MRCB
2.) RCECAP
3.) JTIASA
4.) MYEG

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

Logic Trading Analysis:
1664.96 +0.24 +0.01

BURSA MALAYSIA MARKET IDEAS THURSDAY (29/09/2016):

FBMKLCI FAKE HOPE ALL AROUND

Dear All,

The FBMKLCI closed higher at +0.24 point or 0.01% to close at 1664.96

FBMKLCI stay sideline without much movement, mostly will holding well until September over. Hopefully a big fall will come in first week of October.

DJIA also moving flat at the moment, we don’t expect a strong upside at the moment. If got big correction towards 17000 would be best for the market.

Our market beside metal theme, other than that not much stock are at bottom or good to goreng. Of course good result like ARANK will be notice by every one, just like TECGUAN good result and limit up because market lack of good reason to goreng.

Any good reason will be a goreng chance. We also see from DRBHCOM which we share in our channel yesterday.

Stock remain tops picks like MYEG, DSONIC, IQGROUP, AIRASIA and a few will be our focus.

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

Be ready always better than be hurry this Thursday !
++++++++++++

KLSE StockAlliance:
29/9/2016 Stock Picks
1. PESTECH / TALIWRK / ELSOFT
2. SAMCHEM / VERSATL / SYF
3. CEPAT / ATTA / BREM

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.
We hope to bring profit to everyone as we did in today.

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

*RHB♦Investment Bank

Dear My Value Client,
Potential stock to buy today:
Date/日期 : 29/09/2016

1) *ELSOFT (0090)*
Price/现价 : 1.96
Target price/目标价: 2.10/2.30
Cut loss/止损价 : 1.79
**syariah
Sector/领域: Technology

2) *ARANK (7214)*
Price/现价 : 0.935
Target price/目标价: 1.00/1.10
Cut loss/止损价 : 0.86
** syariah
Sector/领域: Industrial

3) *KPS (5843)*
Price/现价 : 1.26
Target price/目标价: 1.42
Cut loss/止损价 : 1.13
** syariah
Sector/领域: Trading/Services

4) *SAMCHEM (5147)*
Price/现价 : 1.16
Target price/目标价: 1.31
Cut loss/止损价 : 1.04
** Non syariah
Sector/领域: Trading/Services

Source : RHB RESEARCH INSTITUTE

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

UOBKH Retail Market Monitor 29 September 2016

FBMKLCI 1,664.96 (+0.24,+0.01%)
Support: 1,648, 1,640
Resistance: 1,692, 1,700

Top Gainers: Genting Malaysia (+5.2%), RHB Bank (+2.3%) and AMMB
Holdings (+1.7%)
Top Losers: British American Tobacco (-2.0%), Petronas Chemicals Group
(-1.5%) and Axiata Group (-1.5%)

Stocks to watch:
1) CUSCAPI; Technical Buy with +38.7% potential return
*Last: RM0.130 Target: RM0.215, RM0.240 Stop: RM0.095
*Timeframe: 2 weeks to 2 months

2) O&C RESOURCES; Technical BUY with +32.9% potential return
*Last: RM0.385 Target: RM0.495, RM0.545, Stop: RM0.340
*Timeframe: 2 weeks to 2 months

3) VERSATILE CREATIVE; Technical BUY with +33.6% potential return
*Last: RM1.19 Target: RM1.41 RM1.59, Stop: RM0.995
*Timeframe: 2 weeks to 2 months

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

Trading Ideas Bursa Malaysia:
29 September 2016, Wednesday

US Market :
U.S. stocks rallied Wednesday on the back of a jump in oil prices after reports that OPEC had reached a deal to cut production.

Europe Market :
European indexes closed higher on Wednesday, with investor sentiment buoyed by a rally in Deutsche Bank shares and a strong performance in the basic resources stock sector.

Precious Metal Gold :
Gold prices fell for the second straight day and hit a one-week low on Wednesday, pressured by earlier strength in the U.S. dollar and as investors assessed Federal Reserve Chair Janet Yellen testimony before a congressional committee. Yellen was thrust into the election-year boxing ring during the hearing, defending the central bank’s regulatory role and considering changing the annual stress tests it gives to U.S. banks to see if they can withstand a massive financial crisis.

Crude Oil :
Oil prices settled up nearly 6 percent on Wednesday after OPEC sources said the group has struck a deal to limit crude output at its policy meeting in November, its first agreement to cut production since the market crashed two years ago on oversupply.

Indices & Commodities :
DJIA : 18,339.24 (+110.94)
S&P500 : 2,171.37 (+11.44)
NASDAQ : 5,318.55 (+12.84)
DAX : 10,438.34 (+76.86)
FTSE : 6,849.38 (+41.71)
EuroStoxx50 : 2,990.44 (+19.60)
Comex Gold : 1323.7 (-6.7)
Comex Copper : 2.1875 (+.0165)
WTI Crude Oil : 47.05 (+2.38)
Brent Crude Oil : 49.24 (+2.72)

Economic Events :
3.00PM – EUR Spanish CPI (YoY), Spanish HICP (YoY) (Sep)
3.55PM – EUR German Unemployment Change & Rate (Sep)
8.00PM – EUR German CPI (MoM) (Sep)
8.30PM – USD GDP (QoQ) (Q2), GDP Price Index (QoQ) (Q2), Goods Trade Balance (Aug), Initial Jobless Claims
10.00PM – USD Pending Home Sales (MoM) (Aug)

FX &Bonds :
USD/MYR – 4.106
EUR/USD – 1.122
GBP/MYR – 5.357
AUD/MYR – 3.159
SGD/MYR – 3.021
Msia 10 yr Bond Yield – 3.55%

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

Trading Ideas Bursa Malaysia:
Market News Roundup

1⃣ Battersea Power Station has confirmed that Apple will be the largest office tenant, utilising almost half of the facility as a new campus. Britain-based Battersea Power Station Development Co, it is owned by Malaysian shareholders Sime, SP Setia & EPF.

2⃣ DRB-Hicom said 5 candidates have been shortlisted as potential collaborator for its ailing subsidiary Proton Holdings.

3⃣ Utusan, Ancom, Media Prima & SJC, have been awarded 10-year advertising concession packages on the MRT Sungai Buloh-Kajang Line, also known as MRT1.

4⃣ Bernama reported that the SC has reprimanded and imposed penalties on 2 ED of Dufu for causing wrongful loss to the company.

Financial Result Highlight

SKPetro’s 2Q net profit grew 8% to RM112.27m in the absence of O&G property impairment provision and as operating income rose.

Impairment losses have led to VS’s net profit for 4QFY16 tumbling 79.2% to RM10.94m.

Yinson’s net profit for 2QFY17 fell 23% to RM60.3m due to lower other operating income and higher administrative expenses.
Prepared by Alan Tan Jssb
Gamuda’s net profit for 4QFY16 remained largely flat at RM152.1m, thanks to cost-savings recognised from the completion of MRT1.

Sources: theedgemarkets.com ; thestar.com

 

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