Market update: Gains on the FBM KLCI was encouraged by the reducing Covid-19 transmission, coupled with the strong performance delivered by the Employees’ Provident Fund that saw gross investment income grew 58.6% YoY to RM19.29bn in 1Q21. We reckon that further upsides are in the cards, premised to the progressive step up in vaccination efforts, while investors may keep an eye on the unemployment rate data that demonstrate sequential improvements since January 2021. Meanwhile, the crude oil prices advanced, but the crude palm oil prices retreated.
Sector focus: We see the recovery theme stocks, particularly tourism-related to remain upbeat in anticipation of re-opening of economic activities alongside with the higher number of vaccinated populations. The technology sector is expected to mirror the gains on Nasdaq overnight, while the energy sector may take cue from the higher crude oil prices. Packaging and transportation sector are also thriving under the current circumstances.
Stocks to watch:
Financial: MBSB, PBBANK
Transport and Logistics: COMPLET, HARBOUR, SYSCORP
Packaging related: MUDA, PPHB
Construction: CGB, PESTECH, WCEHB
Property: ECOWLD, EWEIN, LBS
Plantation: INNO, SWKPLNT
Healthcare: MGRC, SOLUTN
Consumer: CAB, CANONE, GPHAROS, PRLEXUS
Other: ANCOM, EDGENTA, HEXTAR, OWG, SJC, TALIWRK
Source: M+ Online
Sector focus: We see the recovery theme stocks, particularly tourism-related to remain upbeat in anticipation of re-opening of economic activities alongside with the higher number of vaccinated populations. The technology sector is expected to mirror the gains on Nasdaq overnight, while the energy sector may take cue from the higher crude oil prices. Packaging and transportation sector are also thriving under the current circumstances.
Stocks to watch:
Financial: MBSB, PBBANK
Transport and Logistics: COMPLET, HARBOUR, SYSCORP
Packaging related: MUDA, PPHB
Construction: CGB, PESTECH, WCEHB
Property: ECOWLD, EWEIN, LBS
Plantation: INNO, SWKPLNT
Healthcare: MGRC, SOLUTN
Consumer: CAB, CANONE, GPHAROS, PRLEXUS
Other: ANCOM, EDGENTA, HEXTAR, OWG, SJC, TALIWRK
Source: M+ Online
Market update: The FBM KLCI reversed its gains from the previous session as the key index languished in the negative territory on profit taking, mirroring the regional declines. However, we believe investors’ sentiment may turn mildly positive following the government’s announcement to commence the dispensing of vaccines to critical economic sectors under phase four of the National Covid-19 Immunisation Programme, targeting to increase the vaccination rate. Commodities wise, the CPO price extended its losses, while the crude oil price remained flat around USD72.
Sector focus: We expect the transportation and logistics stocks to continue to bode well under ongoing MCO. Besides, the recovery theme stocks may be in focus over the near term given the improved market sentiment following the higher vaccination rate in the country. Also, plantation counters might get a lift from IJM Plantation’s take over deal.
Stocks to watch:
Financial: CIMB, RCECAP, RHBBANK, TUNEPRO
Transport and Logistics: AIRPORT, TNLOGIS
Construction: FITTERS, GDB, HLIND, SUCCESS, UMSNGB
Property: BJLAND, ECOWLD, OSK, WIDAD
Consumer: BAT, CIHLDG, JOHOTIN, MOBILIA, PRLEXUS, SYF
Technology: CUSCAPI, KRONO, MPAY, VSTECS
Other: KPS, SUNZEN, VIVOCOM, TSH
Source: M+ Online
Sector focus: We expect the transportation and logistics stocks to continue to bode well under ongoing MCO. Besides, the recovery theme stocks may be in focus over the near term given the improved market sentiment following the higher vaccination rate in the country. Also, plantation counters might get a lift from IJM Plantation’s take over deal.
Stocks to watch:
Financial: CIMB, RCECAP, RHBBANK, TUNEPRO
Transport and Logistics: AIRPORT, TNLOGIS
Construction: FITTERS, GDB, HLIND, SUCCESS, UMSNGB
Property: BJLAND, ECOWLD, OSK, WIDAD
Consumer: BAT, CIHLDG, JOHOTIN, MOBILIA, PRLEXUS, SYF
Technology: CUSCAPI, KRONO, MPAY, VSTECS
Other: KPS, SUNZEN, VIVOCOM, TSH
Source: M+ Online
Market update: The FBM KLCI closed marginally lower on the back of weaker sentiment amid some developments in the political scene. Despite a leap in the US inflation, Wall Street ended slightly higher as investors viewed the spike in consumer prices as a temporary effect of industries reopening following the lockdown.
We reckon the positive sentiment on Wall Street, coupled with the climbing vaccination rate in the country should move the local stocks higher. Meanwhile, the oil price continued to stay above USD72.
Sector focus: The technology sector may trend higher following the overnight gains on the Nasdaq Composite index.
Besides, investors may shift their focus to recovery theme stocks amid improving vaccination rate. Also, the oil & gas sector may also see an upward move on the back of firmer oil price. Building materials segment might be on traders’ radar as momentum has built up yesterday.
Stocks to watch:
Building material: ASTINO, HIAPTEK, LEONFB, LIONIND, LSTEEL, MELEWAR, MESTRON, PRESTAR, TASHIN
Financial: MNRB, N2N
Transport and Logistics: MAYBULK
Property: EWINT, WIDAD
Consumer: BAT, MAGNI, OWG, SNC
Technology: DNEX, INARI, KRONO
Other: DPIH, HBGLOB, HONGSENG, NGGB, RL, SAM
Source: M+ Online
We reckon the positive sentiment on Wall Street, coupled with the climbing vaccination rate in the country should move the local stocks higher. Meanwhile, the oil price continued to stay above USD72.
Sector focus: The technology sector may trend higher following the overnight gains on the Nasdaq Composite index.
Besides, investors may shift their focus to recovery theme stocks amid improving vaccination rate. Also, the oil & gas sector may also see an upward move on the back of firmer oil price. Building materials segment might be on traders’ radar as momentum has built up yesterday.
Stocks to watch:
Building material: ASTINO, HIAPTEK, LEONFB, LIONIND, LSTEEL, MELEWAR, MESTRON, PRESTAR, TASHIN
Financial: MNRB, N2N
Transport and Logistics: MAYBULK
Property: EWINT, WIDAD
Consumer: BAT, MAGNI, OWG, SNC
Technology: DNEX, INARI, KRONO
Other: DPIH, HBGLOB, HONGSENG, NGGB, RL, SAM
Source: M+ Online
Market update:
The FBM KLCI retreated for the third straight session amid mixed regional sentiment as the key index succumbed to the extended profit taking activities.
We reckon that sentiment to remain tilted towards the downside following the extension of Full Movement Control Order (FMCO) until 28th June 2021 as new daily Covid-19 cases stayed above the 5,000 level.
Meanwhile, investors may focus on the upcoming Federal Open Market Committee (FOMC) meeting, as well as the daily number of vaccination doses administered in the country. Commodities wise, the CPO price may see some buying interest following recent pullback.
Sector focus: Investors may focus on the oil & gas counters with the firmer oil prices above USD 72. Besides, positive sentiment on Nasdaq overnight may spill over to the technology stocks on the local front. The building-materials sector may also come into picture following the rising material prices.
Stocks to watch:
Building material: CHOOBEE, CSCSTEL, LBALUM, LEONFB, MASTEEL, MELEWAR, MYCRON, SSTEEL, TASHIN, YKGI
Transport and Logistics: HARBOUR, MAYBULK, TNLOGIS
Consumer: BAT, JOHOTIN, MYNEWS
Technology: D&O, KRONO, MCLEAN, N2N, FPI, REVENUE
Construction: EFRAME, EKOVEST, SUCCESS
Timber/ Furniture-related: GPHAROS, MOBILIA
Other: RL, SIMEPROP, SLVEST, SOLUTN, TECHBND, IREKA
Source: M+ Online
The FBM KLCI retreated for the third straight session amid mixed regional sentiment as the key index succumbed to the extended profit taking activities.
We reckon that sentiment to remain tilted towards the downside following the extension of Full Movement Control Order (FMCO) until 28th June 2021 as new daily Covid-19 cases stayed above the 5,000 level.
Meanwhile, investors may focus on the upcoming Federal Open Market Committee (FOMC) meeting, as well as the daily number of vaccination doses administered in the country. Commodities wise, the CPO price may see some buying interest following recent pullback.
Sector focus: Investors may focus on the oil & gas counters with the firmer oil prices above USD 72. Besides, positive sentiment on Nasdaq overnight may spill over to the technology stocks on the local front. The building-materials sector may also come into picture following the rising material prices.
Stocks to watch:
Building material: CHOOBEE, CSCSTEL, LBALUM, LEONFB, MASTEEL, MELEWAR, MYCRON, SSTEEL, TASHIN, YKGI
Transport and Logistics: HARBOUR, MAYBULK, TNLOGIS
Consumer: BAT, JOHOTIN, MYNEWS
Technology: D&O, KRONO, MCLEAN, N2N, FPI, REVENUE
Construction: EFRAME, EKOVEST, SUCCESS
Timber/ Furniture-related: GPHAROS, MOBILIA
Other: RL, SIMEPROP, SLVEST, SOLUTN, TECHBND, IREKA
Source: M+ Online
M+ Online Market Wrap - 14Jun21
FBM KLCI: 1,582.46 pts (+7.30pts, +0.46%)
The FBM KLCI (+0.5%) started the week on a positive note, shaking off its declines in the previous sessions in tandem with the overnight advances at Wall Street.
Market breadth turned positive as the gainers outnumbered the losers by 565-to-427 stocks. The energy sector (+4.2%) has significantly outperformed the mostly positive broader market, led by SERBADK (+14.0 sen), HENGYUAN (+9.0 sen), and PETRONM (+7.0 sen) on the back of firmer oil prices closing above USD72.
Top 3 Active stocks:
SERBADK (5279): RM0.745 (+14.0 sen)
KNM (7164): RM0.205 (+2.5 sen)
TANCO (2429): RM0.15 (unch)
Volume: 7.01 bn (100-day avg vol: 7.72 bn)
Value: 3.94 bn (100-day avg val: 4.52 bn)
Market Breadth: ⬆️565 ⬇️427
Crude palm oil: RM3,360 (-RM303)
Dow Futures: 34,372 pts (+15 pts)
Source: Bloomberg, M+ Online
FBM KLCI: 1,582.46 pts (+7.30pts, +0.46%)
The FBM KLCI (+0.5%) started the week on a positive note, shaking off its declines in the previous sessions in tandem with the overnight advances at Wall Street.
Market breadth turned positive as the gainers outnumbered the losers by 565-to-427 stocks. The energy sector (+4.2%) has significantly outperformed the mostly positive broader market, led by SERBADK (+14.0 sen), HENGYUAN (+9.0 sen), and PETRONM (+7.0 sen) on the back of firmer oil prices closing above USD72.
Top 3 Active stocks:
SERBADK (5279): RM0.745 (+14.0 sen)
KNM (7164): RM0.205 (+2.5 sen)
TANCO (2429): RM0.15 (unch)
Volume: 7.01 bn (100-day avg vol: 7.72 bn)
Value: 3.94 bn (100-day avg val: 4.52 bn)
Market Breadth: ⬆️565 ⬇️427
Crude palm oil: RM3,360 (-RM303)
Dow Futures: 34,372 pts (+15 pts)
Source: Bloomberg, M+ Online
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Market update: Mirroring the overnight gains at Wall Street and advances in regional markets, the FBM KLCI recouped losses from previous sessions as the key index witnessed signs of bargain hunting after recent selldown. There might be some portfolio rebalancing activities by index-linked funds towards the end of the week before the June semi-annual review of the FBM Index Series taking effect after coming Friday. Commodities wise, the CPO price has seen a pullback in line with the weakness in soybean oil as well as concerns over higher production and stock level, while Brent oil steadied above USD70 at this juncture.
Sector focus: Investors may focus on technology stocks following the overnight gains on Nasdaq (which is nearing all-time-high zone). Besides, the current MCO situation may continue to bode well for sectors such as transportations & logistics, as well as packaging and selected consumer stocks. Also, the building material segment may continue to shine amid firm commodity prices.
Stocks to watch:
Technology: AEMULUS, D&O, DUFU, FPGROUP, FPI, GHLSYS, JHM, KGB, MI, UNISEM, UWC, VIS
O&G: UZMA, ARMADA, WASEONG
Construction: AME, FAJAR, MCEMENT, MUHIBAH, WCT
Building material: TASHIN, YKGI
Transport and Logistics: AIRASIA
Consumer: INNATURE, MYNEWS, OWG
Other: MBMR, RCECAP, SAMAIDEN, SJC, TM
Source: M+ Online
Sector focus: Investors may focus on technology stocks following the overnight gains on Nasdaq (which is nearing all-time-high zone). Besides, the current MCO situation may continue to bode well for sectors such as transportations & logistics, as well as packaging and selected consumer stocks. Also, the building material segment may continue to shine amid firm commodity prices.
Stocks to watch:
Technology: AEMULUS, D&O, DUFU, FPGROUP, FPI, GHLSYS, JHM, KGB, MI, UNISEM, UWC, VIS
O&G: UZMA, ARMADA, WASEONG
Construction: AME, FAJAR, MCEMENT, MUHIBAH, WCT
Building material: TASHIN, YKGI
Transport and Logistics: AIRASIA
Consumer: INNATURE, MYNEWS, OWG
Other: MBMR, RCECAP, SAMAIDEN, SJC, TM
Source: M+ Online
Market update: The FBM KLCI finished a see-saw session mildly lower after bargain hunting activities emerged in the previous session as market sentiment remained cautious prior to the National Recovery Plan announcement.
We expect the projection that Malaysia might gradually open up the economy by September according to the announcement, coupled with the accelerating daily vaccination rate in the country to lift the market sentiment on the local front. Commodities wise, the CPO price rebounded after a sixth-session decline, while the Brent oil price stayed firmly above USD73.
Sector focus: Investors may focus on packaging and plastic related counters as products ASP in the sector is on a rising trend on the back of higher resin prices. Besides, the energy sector may gain traction in line with the persistent rise in oil price. Also, we believe technology stocks may continue its rebound following yesterday’s move.
Stocks to watch:
Technology: AEMULUS, BSLCORP, EDARAN, FPGROUP, FRONTKN, INARI, JFTECH, JHM, MCLEAN, PENTA, PRIVA, SYSTECH, VSTECS
O&G: RL, WASEONG
Construction: SCGBHD
Property: GRANFLO, LBS
Building material: ASTINO, CMSB, TASHIN
Transport and Logistics: TASCO, TOCEAN
Consumer: DKSH, EVERGRN, MYNEWS, PRLEXUS
Other: IREKA, RCECAP, TECHBND
Source: M+ Online
We expect the projection that Malaysia might gradually open up the economy by September according to the announcement, coupled with the accelerating daily vaccination rate in the country to lift the market sentiment on the local front. Commodities wise, the CPO price rebounded after a sixth-session decline, while the Brent oil price stayed firmly above USD73.
Sector focus: Investors may focus on packaging and plastic related counters as products ASP in the sector is on a rising trend on the back of higher resin prices. Besides, the energy sector may gain traction in line with the persistent rise in oil price. Also, we believe technology stocks may continue its rebound following yesterday’s move.
Stocks to watch:
Technology: AEMULUS, BSLCORP, EDARAN, FPGROUP, FRONTKN, INARI, JFTECH, JHM, MCLEAN, PENTA, PRIVA, SYSTECH, VSTECS
O&G: RL, WASEONG
Construction: SCGBHD
Property: GRANFLO, LBS
Building material: ASTINO, CMSB, TASHIN
Transport and Logistics: TASCO, TOCEAN
Consumer: DKSH, EVERGRN, MYNEWS, PRLEXUS
Other: IREKA, RCECAP, TECHBND
Source: M+ Online
M+ Online Morning Market Buzz - 16Jun21
Dow Jones: 34,299.33 pts (-94.42pts, -0.27%)
⬆️ Resistance: 35500
⬇️ Support: 33600
FBM KLCI: 1,581.37 pts (-1.09pts, -0.07%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 28,638.53 pts (-203.60pts, -0.71%)
⬆️ Resistance: 29600
⬇️ Support: 27900
Crude Palm Oil: RM3,542 (+RM172, +5.10%)
⬆️ Resistance: 4150
⬇️ Support: 3240
Brent Oil: $73.99 (+$1.13, +1.55%)
⬆️ Resistance: 75.90
⬇️ Support: 69.60
Gold: $1,859.02 (-$7.16, -0.38%)
⬆️ Resistance: 1950
⬇️ Support: 1810
Source: Bloomberg, M+ Online
Dow Jones: 34,299.33 pts (-94.42pts, -0.27%)
⬆️ Resistance: 35500
⬇️ Support: 33600
FBM KLCI: 1,581.37 pts (-1.09pts, -0.07%)
⬆️ Resistance: 1630
⬇️ Support: 1550
HSI Index: 28,638.53 pts (-203.60pts, -0.71%)
⬆️ Resistance: 29600
⬇️ Support: 27900
Crude Palm Oil: RM3,542 (+RM172, +5.10%)
⬆️ Resistance: 4150
⬇️ Support: 3240
Brent Oil: $73.99 (+$1.13, +1.55%)
⬆️ Resistance: 75.90
⬇️ Support: 69.60
Gold: $1,859.02 (-$7.16, -0.38%)
⬆️ Resistance: 1950
⬇️ Support: 1810
Source: Bloomberg, M+ Online
M+ Online Market Wrap - 16Jun21
FBM KLCI: 1,578.32 pts (-3.05pts, -0.19%)
The FBM KLCI (-0.2%) gains faded in the afternoon trade, leaving the key index in the negative territory alongside with the negative regional market undertone despite a clearer picture on the National Recovery Plan. Market breadth turned negative as the losers overpowered the gainers by 668-to-349 stocks.
The utilities sector was the only bright spot on the broader market, anchored by gains on PETGAS (+12.0 sen), TENAGA (+8.0 sen), and TALIWRK (+2.0 sen).
Top 3 Active stocks:
KNM (7164): RM0.20 (-0.5 sen)
DNEX (4456): RM0.875 (-1.5 sen)
SERBADK (5279): RM0.645 (-3.5 sen)
Volume: 4.69 bn (100-day avg vol: 7.70 bn)
Value: 3.14 bn (100-day avg val: 4.49 bn)
Market Breadth: ⬆️349 ⬇️668
Crude palm oil: RM3,365 (-RM177)
Dow Futures: 34,123 pts (-54 pts)
Source: Bloomberg, M+ Online
FBM KLCI: 1,578.32 pts (-3.05pts, -0.19%)
The FBM KLCI (-0.2%) gains faded in the afternoon trade, leaving the key index in the negative territory alongside with the negative regional market undertone despite a clearer picture on the National Recovery Plan. Market breadth turned negative as the losers overpowered the gainers by 668-to-349 stocks.
The utilities sector was the only bright spot on the broader market, anchored by gains on PETGAS (+12.0 sen), TENAGA (+8.0 sen), and TALIWRK (+2.0 sen).
Top 3 Active stocks:
KNM (7164): RM0.20 (-0.5 sen)
DNEX (4456): RM0.875 (-1.5 sen)
SERBADK (5279): RM0.645 (-3.5 sen)
Volume: 4.69 bn (100-day avg vol: 7.70 bn)
Value: 3.14 bn (100-day avg val: 4.49 bn)
Market Breadth: ⬆️349 ⬇️668
Crude palm oil: RM3,365 (-RM177)
Dow Futures: 34,123 pts (-54 pts)
Source: Bloomberg, M+ Online
Market update:
The FBM KLCI sank into the negative territory as investors were concern on the outcome of the FOMC meeting. Despite the tepid sentiment, downside risks on the local bourse might be capped by declining Covid-19 cases trend, coupled the acceleration in vaccination rate following the implementation of Public-Private Partnership Industrial Covid-19 Immunisation Programme (PIKAS) yesterday.
Meanwhile, selected commodities prices dropped following China’s announcement on its campaign to control raw material prices by expanding its oversight of commodities trading and pledging to release the nation’s reserves of base metals.
Sector focus: Following a pullback in commodities prices, investors may refocus on the sectors such as essential consumer stocks and packaging counters. In the meantime, traders may look out for recovery theme play on the back of the clearer National Recovery Plan unveiled by our PM; recovery theme sectors include consumer, property and construction.
Stocks to watch:
Financial: AMBANK, REVENUE
Technology: DUFU, FPGROUP, GENETEC, GREATEC, MICROLN, MPI, PIE, QES, SKPRES, SYSTECH, UCHITEC
Construction: AME
Property: ENCORP, GRANFLO, SPSETIA
Building material: BIG, CABNET, IPMUDA, KSSC, MELEWAR, MESTRON
Transport and Logistics: SEALINK, SYSCORP
Consumer: OPTIMAX, PRLEXUS, SYF
Other: CNASIA, IREKA, NGGB, SLVEST
Source: M+ Online
The FBM KLCI sank into the negative territory as investors were concern on the outcome of the FOMC meeting. Despite the tepid sentiment, downside risks on the local bourse might be capped by declining Covid-19 cases trend, coupled the acceleration in vaccination rate following the implementation of Public-Private Partnership Industrial Covid-19 Immunisation Programme (PIKAS) yesterday.
Meanwhile, selected commodities prices dropped following China’s announcement on its campaign to control raw material prices by expanding its oversight of commodities trading and pledging to release the nation’s reserves of base metals.
Sector focus: Following a pullback in commodities prices, investors may refocus on the sectors such as essential consumer stocks and packaging counters. In the meantime, traders may look out for recovery theme play on the back of the clearer National Recovery Plan unveiled by our PM; recovery theme sectors include consumer, property and construction.
Stocks to watch:
Financial: AMBANK, REVENUE
Technology: DUFU, FPGROUP, GENETEC, GREATEC, MICROLN, MPI, PIE, QES, SKPRES, SYSTECH, UCHITEC
Construction: AME
Property: ENCORP, GRANFLO, SPSETIA
Building material: BIG, CABNET, IPMUDA, KSSC, MELEWAR, MESTRON
Transport and Logistics: SEALINK, SYSCORP
Consumer: OPTIMAX, PRLEXUS, SYF
Other: CNASIA, IREKA, NGGB, SLVEST
Source: M+ Online