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Daily Note Daily Market Commentary (A Participating Organisation of Bursa Malaysia Securities Bhd) Menara TA One, 22 Jalan P Ramlee, 50250 Kuala Lumpur Tel : 603 - 2072 1277. Fax : 603 - 2032 5048 Tuesday, 17 March 2015 TA Research e-mail : [email protected] For Internal Circulation Only KLSE Market Statistics (16.03.2015) Volume (mil) +/-chg (RMmn) Main Market 1,591.1 215.6 1,719.1 Warrants 73.9 -10.8 11.2 ACE Market 780.1 -712.9 164.7 Bond 12.3 3.0 1.0 ETF 0.1 -0.05 0.2 Total 2,457.6 1,896.2 Off Market 99.3 25.3 77.2 Value +/-chg 165.9 -1.9 -90.7 -0.2 -0.02 55.7 Major Indices Index +/- chg Malaysia FBMKLCI FBMEMAS FBMSCAP Mar Futures Other Markets DOW JONES NASDAQ (US) FTSE (UK) NIKKEI (JAPAN) KOSPI (KOREA) HANG SENG (HK) FSSTI (S'PORE) SET (BANGKOK) JCI (JAKARTA) SHANGHAI SHENZHEN AUSTRALIA @ @ @ @ @ @ @ @ @ @ Review & Outlook Up Down 221 375 35 67 31 60 5 1 2 1 294 504 % chg % YTD chg 1,780.54 12,260.96 16,221.72 1,777.50 -1.21 -24.09 -73.66 6.50 -0.07 -0.20 -0.45 0.37 1.10 1.61 7.89 1.51 17,977.42 4,929.51 6,804.08 19,246.06 1,987.33 23,949.55 3,376.04 1,515.57 5,435.27 3,449.31 1,760.19 5,797.66 228.11 57.75 63.50 -8.19 1.54 126.34 13.27 -25.98 8.80 76.39 52.11 -16.88 1.29 1.19 0.94 -0.04 0.08 0.53 0.39 -1.69 0.16 2.26 3.05 -0.29 0.87 4.08 3.62 10.29 3.75 1.46 0.32 1.20 3.99 6.64 24.38 7.15 Top 10 KLCI Based on Mkt Cap. Off Market (mn) REDTONE 74.6 TMS 10.7 FLONIC-WB 2.9 JIANKUN 1.7 MEXTER 1.6 BJAUTO 1.5 PERDANA 1.3 IMASPRO 1.3 YTL 1.0 TASCO 1.0 Value/ Volume 1.08 0.15 0.21 0.08 1.20 0.77 0.78 (RM) 0.80 0.07 0.03 0.30 0.05 3.59 1.14 1.50 1.58 3.20 Counter Mkt Cap. (RM’mn) MAYBANK 84,728 TENAGA 82,510 CIMB 49,784 PCHEM 40,320 MAXIS 53,377 GENTING 30,301 SKPETRO 13,722 KLK 23,536 HLBANK 25,435 GENM 23,079 Chg (RM) -0.01 -0.02 -0.01 -0.02 -0.04 -0.06 -0.05 -0.12 -0.02 -0.05 Vol. (mn) 6.71 9.31 4.29 2.33 2.71 2.29 18.63 0.28 0.47 1.87 Important Dates HW ATAI - 3:2 Rights Issue - RI of 60.0m shares. HWA 3 rights share for every 2 existing shares held, at an issue price of RM0.40 per rights share. Trading of Rights: 17/03 - 24/03/2015. Application Closed: 31/03/2015. LISTING ON: 14/04/2015. LPI - 1:2 Bonus Issue - BI of 110.7m shares. Ex-Date: 20/03/2015. Entitlement Date: 24/03/2015. LISTING ON: 25/03/2015. Bursa Malaysia shares remained in profit-taking correction mode Monday, with oil & gas related stocks softening on lingering concerns over earlierthan-expected US interest rates hikes and slumping oil prices. The KLCI eased 1.21 points to close at 1,780.54, off an early low of 1,774.3 and high of 1,787.29, as losers bashed gainers 504 to 294 on robust turnover of 2.46bn shares worth RM1.89bn. While blue chips may be buoyed by overnight rallies on US and European stocks on stimulus optimism, the broader local market sentiment would be clouded by the renewed slump in oil prices to fresh six-year lows. Immediate support for the index stays at 1,778, the 50% Fibonacci Retracement (FR) level, with next support at 1,750, the 38.2%FR level, and stronger chart supports seen at 1,730 and 1,716, the 23.6%FR level. Overhead resistance is retained at the 30-day moving average level of 1,803, followed by the 200-day moving average level at 1,825, and the 4 February high of 1,831, with subsequent hurdle from 1,840, the 76.4% FR level. Bearish technical momentum on SapuraKencana implies further downward bias towards the lower Bollinger band (RM2.16), with more crucial supports coming from the 15/12/14 low of RM2.02 and 18/5/12 low of RM1.90. Overhead resistance from the 23.6%FR (RM2.62) coincides with the 50-day moving average. Likewise, Wah Seong may weaken towards the 13/1/15 low of RM1.17, before oversold momentum limits downside. Key overhead hurdle is also at the 23.6%FR (RM1.39). • • • • • • • • • • News Bites Puncak Niaga Holdings Bhd has given Selangor state's unit Pengurusan Air Selangor Sdn Bhd a third extension to fulfil the conditions precedent stated in the agreement signed last year. WCT Holdings Bhd stands to raise up to RM682mn in gross proceeds from its latest proposed corporate exercise - just after announcing it had bagged a RM1.2bn infrastructure contract in Qatar. Eversendai Corporation Bhd has secured a RM203mn contract to construct the East, North & South Depots of the Riyadh Metro project - Package 1 for the Riyadh Development Authority. The Competition Commission of Singapore has blocked IHH Healthcare Bhd's proposed acquisition of RadLink-Asia as it would reduce competition. PUC Founder (MSC) Bhd is venturing into the solar energy business that will involve the supply of electricity to Tenaga Nasional Bhd. Gabungan AQRS Bhd has teamed up with Suria Capital Holdings Bhd to jointly develop a mixed development dubbed "One Jesselton Waterfront" in Kota Kinabalu, Sabah, which will have a net sale value of RM1.8bn. Johor ruler Sultan Ibrahim Iskandar has emerged as the single largest shareholder in REDtone International Bhd, with a 20.13% stake. IHH Healthcare Bhd said it has entered into a partnership agreement with Godo Kaisha Samurai 10 that saw an injection of RM182.62mn into the latter for the acquisition of nursing homes in Japan. Tambun Indah Land Bhd is buying 16 parcels of freehold land in Seberang Perai Tengah, Penang, with a collective land area of 18.8 acres, for RM38.9mn, cash. Factory production in the U.S. declined 0.2% in February, which was for a third consecutive month, signaling cutbacks in manufacturing will hold back economic growth this quarter. Exchange Rate RM/USD 3.7035 0.0129 YEN/USD 121.28 -0.1800 USD/EURO 1.0532 -0.0050 Commodities Futures Palm Oil (RM/mt) 2,199.00 -34.00 Crude Oil ($/Barrel) 43.79 -1.21 Gold ($/tr.oz.) 1,153.80 -4.60 DISCLAIMER The information in this report has been obtained from sources believed to be reliable. Its accuracy or completeness is not guaranteed and opinions are subject to change without notice. This report is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect loss arising from the use of this document. We, our associates, directors, employees may have an interest in the securities and/or companies mentioned herein. for TA SECURITIES HOLDINGS BERHAD Kaladher Govindan, Head of Research