Reuters-Strong growth data out of Britain prompted the biggest daily sell-off in government debt for months and pushed yields on the world’s benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut.

The bond sell-off gained momentum in the United States after upbeat jobless claims data pointed to another robust nonfarm payrolls number next week.

Wall Street closed lower, dipping in a choppy session after the latest round of earnings reports. Losses in Comcast and consumer discretionary stocks offset gains in the healthcare sector, while European stocks slid and the U.S. dollar advanced against the Swedish crown and Japanese yen.

Official data showed that growth in Britain’s economy slowed only slightly in the three months after it voted to exit the European Union. It grew 0.5 percent between July and September, a touch less than the second quarter’s 0.7 percent, enough to temper fears about an immediate economic impact following the Brexit decision.

Britain’s 10-year gilt GB10YT=RR advanced to more than four-month highs, while German 10-year bund yields rose to five-month peaks DE10YT=RR, lifting U.S. Treasury yields in the process.

“The stronger (gross domestic data) print in the UK has given further weight to speculation that the BoE will not provide further stimulus any time soon,” said Rabobank strategist Richard McGuire.

In U.S. equity markets, investors took Qualcomm’s deal (QCOM.O) to buy NXP Semiconductors (NXPI.O) for about $47 billion as a sign of confidence, sending up shares of both.

Despite beating earnings estimates a day earlier, Comcast (CMCSA.O) pulled the S&P and Nasdaq lower, paring some losses after falling as much as 2.7 percent following price target cuts from Barclays and Deutsche Bank.

The Dow Jones industrial average .DJI fell 29.65 points, or 0.16 percent, to 18,169.68, the S&P 500 .SPX lost 6.39 points, or 0.3 percent, to 2,133.04 and the Nasdaq Composite .IXIC dropped 34.29 points, or 0.65 percent, to 5,215.97.

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The Bursa Analyst Channel:
Friday 28 October:

Sluggish market for Thursday. Oil prices seems to be rallying and trading around $50. Ringgit weakened against USD back to 4.2, we might see some export counters in play today.

Undecided market, just be careful when trading.

Stocks to watch:

Pesona: Support 0.45, TP 1: 0.48, TP 2: 0.55

Elsoft: Support 1.98 TP 2.10

OPCOM: Support at 0.6, TP is 0.65 Risk Reward ratio about 1:2

As mentioned, market is not very good, please trade with care !

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

https://telegram.me/TTrustedBA

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Logic Trading Analysis Channel:
BURSA MALAYSIA MARKET IDEAS FRIDAY (28/10/2016):

FBMKLCI BACK TO SIDEWAYS AND MIGHT WATERFALL

Dear All,

The FBMKLCI closed lower at -4.89 point or -0.29% to close at 1669.03.

FBMKLCI back to sideways range, which most probably due to upcoming many events in NOV. Market remain very slow and uncertain. Not suitable to trade for beginner.

DJIA already move big sideways range for one and half month, next month we will see the history making US President Election, either sides win should make the market movement have a better picture. We continue to wait.

Since market is not good, many company post poor result. Be extra careful.

Lets ready for some more goreng at our live channel:
https://telegram.me/ltachannel !

Don’t take people’s convenient and turn to complication for them this Friday !!

“Goreng Tetap Goreng” !

Yours Sincerely,
Logic Trading Analysis

++++++++++

BursaKakis Channel :
Link: telegram.me/bursakakis

BKs Technical Ideas 28/10/2016

1) Ghl
2) Jaks
3) VIS (live call @ 0.235 on 27/10)

Jaks now @ 1.05, buying momentum & volume is building. Watch for breakout above 1.06 – BKs

GHL may breakout of the 0.86 resistance after closing up 0,025 @ 0.86 with high vol on 27/10/2016. Stochastic is now pointing up & MACD has crossed the zero line -BKs

VIS our medium term FA stock now @ 0.235 is set to breakout of the resistance of 0.235 – BKs

Kindly refer to charts posted in BKs Channel.

Our Link: telegram.me/bursakakis

DISCLAIMER: The comments here are for sharing and learning purposes and do not represent a recommendation to buy or sell. Kindly consult your remisiers or dealers before you take any action. Thank you.

BursaKakis Channel :

+++++++++

[28/10 09:45] Rosdi maybank: Market News Roundup

1⃣ Perisai’s subsidiary, SJR Marine (L) Ltd has defaulted on its financing facility of US$20.5m from OCBC Al-Amin.

2⃣ THHeavy & Destini entered into JV to pursue a shipbuilding contract entailing the supply of 3 offshore patrol vessels for the Malaysian Maritime Enforcement Agency.

3⃣ Yinson announced today that Datuk Yeow Kheng Chew has ceased to be a substantial shareholder after disposing of 101.77m shares representing some 9.33% in the company.

Financial Result Highlight

SUNREIT’s net property income (NPI) for 1QFY17 rose 6.8% y-o-y thanks to the resilient performance from its retail segment.It also proposed higher interim income distribution of 2.27 sen per unit.

Pav REIT posted an 11% increase in NPI to RM80.71m for 3QFY16, contributed by rental income from 2 new properties, Damen Mall and Intermark Mall.

Gadang saw its net profit fall by as much as 20% to RM16.62m (6.46 sen/share) for 1QFY17, mainly due to the completion of some projects.

Sources: theedgemarkets.com ; thestar.com
[28/10 09:46] Rosdi maybank: UOBKH Retail Market Monitor 28 October 2016

FBMKLCI 1,669.03 (-4.89,-0.29%)
Support: 1,648, 1,640
Resistance: 1,692, 1,700

Top Gainers: IHH Healthcare (+0.9%), Westports Holdings (+0.7%) and
RHB Bank (+0.6%)
Top Losers: Malayan Banking (-1.6%), SapuraKencana Petroleum (-1.2%)
and Genting Bhd (-1.2%)

US stocks closed lower Thursday, after a session of fluctuating
between slight gains and losses, as a jump in bond yields prompted a
selloff in defensive sectors such as real estate while investors
sifted through mixed earnings results and deal news.

Stocks to watch:
1) SUCCESS TRANSFORMER; Technical Buy with +17.6% potential return
*Last: RM1.82 Target: RM2.04, RM2.14 Stop: RM1.72
*Timeframe: 2 weeks to 2 months

2) HIL INDUSTRIES; Technical BUY with +14.3% potential return
*Last: RM0.910 Target: RM0.985, RM1.04, Stop: RM0.835
*Timeframe: 2 weeks to 1 months

3) TH HEAVY ENGINEERING; Technical BUY with +35.7% potential return
*Last: RM0.140 Target: RM0.190  RM0.235, Stop: RM0.095
*Timeframe: 2 weeks
[28/10 09:47] Rosdi maybank: Boon:
Reach EGM on Nov 4, 2016 & QA approval seems brighter.

Yield-seeking Investor, Credit Suisse Securities (Europe) Ltd ceased to be a substantial shareholder after divesting a 7.61% stake or an equivalent of 97.24 million shares on Oct 26, 2016. Post-disposal, Credit Suisse Securities’ stake is reduced to a mere 0.19% .

Last week MTD Capital Bhd bought out about 118m shares or 9.42% @ 0.76 a piece (5 cts above market) from PAG, another “yield-seeking” one.

Thus Reach could be a step closer to securing shareholders approval on Nov 4, 2016 for its maiden acquisition of an oil & gas (O&G) feild in Kazakhstan.
[28/10 09:47] Rosdi maybank: FAt TA:
M+ Online Morning Buzz – 28Oct16

Dow Jones: 18,169.68 pts (-29.65pts, -0.16%)
U.S. equities ended lower as traders continue to focus on corporate earnings, while some tech stocks like Apple Inc extended its pullback move for another session. The Dow’s support will be located around the 18,000 level.

FBM KLCI: 1,669.03 pts (-4.89pts, -0.29%)
The FBM KLCI ended lower led by selected banking heavyweights. If the FBM KLCI trips below 1,660, next support will be pegged around 1,645.

Crude Palm Oil: RM2,786 (-RM10, -0.36%)
Crude palm oil took a pause in tandem with Dalian markets, while soybean oil continues to decline. Buying interest should resume after a short consolidation phase.

WTI Crude Oil: $49.72 (+$0.54, +1.10%)
Crude oil rebounded as Saudi Arabia and its Gulf OPEC allies are willing to cut 4% from their peak oil output, but crude oil still ended below the US$50 per barrel mark.

Gold: $1,268.40 (+$1.30, +0.10%)
Gold continues to stay below the US$1,300 level on the back of stronger U.S. dollar. Gold’s support will be pegged around US$1,250.

Bursa Malaysia Trade Statistics – 27Oct16
Institutions: Net BUY 221.7 mln (63.0%)
Retail: Net SELL 1.7 mln (13.8%)
Foreign: Net SELL 220.0 mln (23.2%)

Potential Momentum Stocks – 28Oct16
Stock Name: ELSOFT (0090)
Entry: Buy above RM2.03
Target: RM2.20 (8.4%), RM2.40 (18.2%)
Stop: RM1.90 (-6.4%)
Shariah: Yes
Technical: Retesting the all-time-high zone

Stock Name: GHLSYS (0021)
Entry: Buy above RM0.85
Target: RM0.90 (5.9%), RM0.93 (9.4%)
Stop: RM0.82 (-3.5%)
Shariah: Yes
Technical: Flag formation breakout

Source: Bloomberg, M+ Online
[28/10 09:48] Rosdi maybank: Sapphire:
October 28, 2016
•••••••••••••••••••••••

Eco World, GuocoLand Set To Hold 27 % Stake Each In EWI’s IPO

Eco World Development Group Bhd (Eco World) and Singapore listed property developer, GuocoLand Ltd, Thursday announced they would join forces to anchor Eco World International Bhd’s (EWI) upcoming initial public offering (IPO).

The companies are each set to hold a 27 % stake.

Eco World Chairman Tan Sri Liew Kee Sin said EWI is scheduled to be listed on the main board of Bursa Malaysia by the first quarter 2017.
[28/10 09:49] Rosdi maybank: Fundamental report from RHB Research
28/10/16

1. *Tenaga* (current price : 14.32, TP : 18.60)
- Maintain Buy
- We view Tenaga 4QFY16 results to be broadly in line despite core earnings declining 45% YoY, mainly due to unfavourable sales mix and post adjustments for lump sum imbalance cost pass through charge in 4QFY15

2. *Pavreit* (current price : 1.74, TP : 1.90)
-Maintain Neutral
- While we believe Pavilion KL may be able to sustain its strong growth, we expect management to take longer than initially anticipated to lift occupancy rates at newly acquired Intermark Mall and Da men Mall to optimum levels, due to weak domestic consumer sentiment and influx of new malls in the Klang Valley

3. *Sunreit* (current price : 1.77, TP : 1.84)
- Maintain Neutral
- We are projecting stable growth for Sunreit in FY17, largely led by positive rental growth and stable occupancy rates at its retail segment

4. *Airport* (current price : 6.50, TP : 7.60)
- Maintain Buy
- Gradual recovery in Malaysian passenger traffic and a Malaysian passenger service charge rate hike should support strong growth in 2017

5. *Gadang* (current price : 3.29, TP : 3.50)
- Downgraded to Neutral
- We expect more progress billings and receipts from variation orders to be recognised for Gadang in the coming few quarters.
- However, we are view that the positive share price performance since our initiating coverage has mostly captured its underlying earnings catalyst

 

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