Asia shares hit 2008 highs

July 28th, 2017
SYDNEY: Stocks, bonds and products were all on a come in Asia on Thursday as bulls scented a softening in the Federal Reserve’s certainty on swelling that guaranteed to keep U.S. financing costs low for more. 
MSCI’s broadest record of Asia-Pacific offers outside Japan climbed 0.5 percent to statures not seen since January 2008. It has picked up about 5 percent so far this month. 
South Korea included 0.6 percent and Australia <.AXJO> 0.2 percent, while Japan’s Nikkei was kept level by a firmer yen. 
The most recent scramble for hazard came after the Fed left U.S. rates unaffected not surprisingly on Thursday however the market seized on changes in its wording on expansion. 
It noticed that both general and center expansion had declined and expelled the qualifier “as of late”, maybe proposing concerns the log jam won’t not be impermanent. 
The Fed additionally said it anticipated that would begin going down its enormous property of bonds “moderately soon”, solidifying desires of a September begin. 
While that would be a compelling fixing in budgetary conditions it may likewise reduce the requirement for real climbs in rates, which matter more for money valuations. 
“The dollar’s most concerning issue is it can’t expect assistance from the Fed for quite a while,” said Alan Ruskin, worldwide head of forex at Deutsche. 
“In the transient we are still in a hazard great circle, whereby quelled products and ventures swelling underpins a very much carried on security market and resource expansion. It’s simply one more day in heaven.” 
A Reuters survey demonstrated most essential merchants, the banks approved to exchange straightforwardly with the Fed, still observe the Fed’s next rate ascend in December. However, Fed reserves rate prospects are evaluating in under 50 percent possibility of a climb by at that point, contrasted with more than 50 percent before the Fed’s meeting. 
DOLLAR BREAKS LOWER 

Yields on U.S. 10-year obligation properly fell 5 premise focuses and were last at 2.28 percent

The dollar took after, tumbling to a 13-month trough against a wicker bin of monetary forms at 93.370 <.DXY>. It was last down around 0.2 percent at 93.444
The euro, which had been knocking up against a 23-month top for the majority of the week, at long last got through to reach $1.1742 , its most noteworthy since January, 2015. 
The following real diagram target was the 200-week normal at $1.1807 – a measure the euro has not exchanged above since August 2014. 
To be sure, the dollar was quick moving toward the 200-week boundary on both the Canadian and Australian dollars and breaks would be in fact bearish. 
The dollar even fall back on the yen to 111.04 , however the harm was constrained by desires the Bank of Japan would keep its super-simple approaches set up longer than most other worldwide national banks. 
The possibility of U.S. strategy remaining stimulative saw Wall Street’s dread gage touch a record low <.VIX>. The Dow <.DJI> finished Wednesday up 0.45 percent, while the S&P 500 <.SPX> included 0.03 percent and the Nasdaq <.IXIC> 0.16 percent. 
Telecoms <.SPLRCL> was the best entertainer, pushed by a 5.0 percent pick up in AT&T after its outcomes. Boeing took off 9.9 percent in the wake of beating assessments and Amazon’s showcase worth topped $500 billion surprisingly. 
The declining U.S. dollar supported wares estimated in the cash. Spot gold hit a six-week high and was last exchanging at $1,262.45, while copper achieved an area not trod since May 2015. [MET/L] 
Oil costs neared eight-week highs as a shockingly sharp drop in U.S. inventories supported hypothesis a worldwide rough overabundance would retreat. [O/R] 
An episode of benefit taking in early Asia on Thursday saw Brent rough prospects ease 11 pennies to $50.86 a barrel, while U.S. unrefined plunged 9 pennies to $48.66. – Reuters

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Globetronics Technology Bhd’s latest quarterly results

July 27th, 2017

KUALA LUMPUR:
Globetronics Technology Bhd’s most recent quarterly outcomes have come in accordance with Affin Hwang Capital Research’s desires. 
“As foreseen, quarterly income force additionally enhanced into 2Q17. While 1H17 outcomes represented 17% of our entire year figure, we regard this inline, in expectation of a more grounded 2H17 upon full commitment of the light sensor,” Affin said. 
Globetronics’ 2Q17 center net benefit hopped 54% quarter-on-quarter (qoq) to RM8.1mil, its most elevated amount in the course of the last four quarters. Its development was supported by higher creation volumes in its sensor division, which added to the 26% qoq development in income to RM63mil. 
“We assess that sensor volumes in 2Q17 were higher by 80% qoq with generation of the motion sensor close to its introduced limit of 7 million units in late 2Q17 while the light sensor started large scale manufacturing in May 2017 and there was an expected 8 million units dispatched in 2Q17. 
“In any case, with the related start-up cost and low use levels, 2Q17 Ebitda edge was affected antagonistically, declining 0.5 rate point qoq to 20.7%,” Affin said. 
By and large, Affin said Globetronics’ 1H17 center income represented 17% and 22% of the house and road entire year gauges and extensively inside desires, due to an expected more grounded 2H17. 
Affin said creation volumes for the light sensor were relied upon to achieve 18 million units in July, 2.6 times June’s volume and should add to enhanced benefit in the coming quarter. 
“Suffice to state, Globetronics’ execution has officially enhanced altogether in spite of insignificant commitment from the light sensor in 2Q17. 
“We leave our figures unaltered and keep up our “purchase” rating and target cost of RM8 (in view of 20x 2018E EPS). Key dangers to our call would be lost clients or on-going sensor extends that neglect to be planned into current-year models,” Affin said.

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Technical Comments: Bargain Axiata

July 27th, 2017
Any price dips on Axiata towards the lower Bollinger band (RM4.56) should be attractive to bargain for rebound upside to RM4.90, with the 38.2%FR (RM5.15) and 50%FR (RM5.48) acting as tougher resistance. Crucial support is from the 29/11/16 low (RM4.11) Axiata Daily Chart: source: TA Securities – 26/7/2017 AXIATA GROUP BERHAD The Group’s mobile subsidiaries and associates operate under the

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Bursa reprimands Eksons over inaccurate quarterly report

July 26th, 2017

PETALING JAYA: Bursa Malaysia has freely reproved Eksons Corp Bhd for neglecting to guarantee that its third quarterly report for the money related year finished Dec 31, 2014 was real, evident and exact. 
The stock trade administrator said Eksons is additionally required to survey and guarantee the sufficiency and adequacy of its money related revealing capacity and do a restricted audit on its quarterly report entries. 
“The constrained survey must be performed by the organization’s outer inspectors for four quarterly reports beginning no later from the quarterly report for the budgetary period finished Sept 30,” it said. 
“Also, Eksons must guarantee every one of its executives and significant staff go to a preparation program in connection to consistence with the posting necessities relating to monetary proclamations,” it included. 
Eksons had an unaudited benefit owing to proprietors of the parent of RM64mil for the aggregate time frame until Dec 31, 2014. 
In this way, Eksons had declared corrected outcomes, which announced an unaudited benefit owing to proprietors of the parent of RM52.2mil for a similar period. 
The alteration was for the most part because of a blunder made by Eksons in neglecting to dispose of between organization deals while setting up the united budgetary proclamations.

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Tuesday blah-blah

July 25th, 2017
Good morning … DOW minus 67 points. Nothing much as KLCI is not correlated to DOW.

KLCI chart … I m going long. But .. it has been sideway without direction and many stocks trading at low volume.

So … since market is boring, move away … and trading SOY is interesting now due to the swing. It gapped up this morning … hit 34.14 … and yesterday’s low was at 33.23 … every bit = USD6. Serious traders should consider FKLI, FCPO and SOY … these are my main focus at the moment.

Today kinda glad with my morning short of SOY, taken 19bits.

Ok … let this post goes in first … and then only continue my blah-blah. haha.

TEH

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Construction Sector – Malaysia

July 25th, 2017
Railway-related Jobs To Dominate In 2H17 We expect construction job awards to gain momentum in 2H17 after the lull period in 1H17 due to seasonal factors. In the near term, key events to look out for include: a) awards for the RM9b LRT3, b) groundbreaking of the RM55b ECRL, and c) tabling of the pre-election Budget 2018 in October. We prefer infrastructure construction beneficiaries, including

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Tenaga Nasional and Hong Leong Bank lifted the FBM KLCI out of the red at midday on Monday

July 25th, 2017

KUALA LUMPUR: Tenaga Nasional and Hong Leong Bank lifted the FBM KLCI out of the red at late morning on Monday while the ringgit drooped against the key monetary forms in spite of the firmer financial viewpoint for Malaysia in the second half. 
At 12.30pm, the KLCI was up 0.57 point or 0.03% to 1,759.73. Turnover was 905.49 million offers esteemed at RM555.13mil. There were 226 gainers, 368 washouts and 445 counters unaltered. 
Southeast Asian securities exchanges were drowsy in low-volume exchange on Monday, in accordance with Asian companions as US political instabilities hosed seeks after fast section of President Donald Trump’s boost and expense change plans, weighing on speculators’ hazard craving, Reuters detailed. 
The Trump organization, officially stubborn by examinations concerning charged Russian intruding in the US race, took a crisp hit on Friday after White House representative Sean Spicer surrendered, featuring a change inside the president’s internal circle, the wire detailed. 
The ringgit debilitated against the key monetary standards, down 0.01% to the US dollar at 4.2842 and slipped 0.14% to the pound sterling at 5.5759 and lost 0.2% to the Singapore dollar at 3.1461. It fell 0.18% to the euro at 5.0014. 
Malaysia’s economy is ready to grow in the second 50% of 2017 in view of the positive driving list (LI) and incidental list (CI) for May, says the Statistics Department. 
Among the shopper stocks, Nestle rose 52 sen to RM83.80 and BAT added 42 sen to RM44.58. 
Tenaga rose 10 sen to RM14.22 and added 0.93 of a point to the KLCI, Genting Malaysia added four sen to RM6.02 yet Genting Bhd lost five sen to RM9.51, IHH Healthcare shed two sen to RM5.99. MISC lost three sen to RM7.37. 
Hong Leong Bank rose 12 sen to RM15.80 and added 0.43 of a point to the KLCI. AmBank rose three sen to RM5.05, CIMB and Public Bank were level at RM6.35 and RM20.36 while Maybank shed one sen to RM9.65 and RHB Bank shed two sen to RM5.06. 
Back up plan LPI lost eight sen to RM18.05. 
Rough palm oil for third-month conveyance fell RM26 to RM2,547 per ton on stresses over higher generation viewpoint. 
HCK Capital was the best gainer, up 62 sen to RM5.99, Turbo 11.5 sen to 93.5 sen while IWCity increased two sen to RM1.50. 
CCB fell 14 sen to RM2.24 after its profit split. Tien Wah was down 10 sen to RM1.73 and Latitude Tree nine sen lower to RM5.43 and Mesiniaga eight sen to RM1.31. 
Genting Plantations fell 12 sen to RM18.70, PPB Group eight sen bring down at RM16.72, IOI Corp and KL Kepong were level at RM4.48 and RM24.74 while Sime Darby was up two sen to RM9.56. TAHPS added 20 sen to RM7.60. 
US light unrefined petroleum rose 10 pennies to US$45.87 and Brent picked up 13 pennies to US$48.19. Petronas Gas lost 12 sen to RM18.70 and Petronas Chemicals four sen bring down at RM6.93 while Petronas Daganagan shed two sen to RM23.70. 
Among the key provincial markets, 

Japan’s Nikkei 225 fell 0.86% to 19,927.85; 

Hong Kong’s Hang Seng Index rose 0.46% to 26,829.07; 

CSI 300 added 0.27% to 3,738.78; 

Shanghai’s Composite Index rose 0.18% to 3,243.77; 

Hang Seng China Enterprise increased 0.29% to 10,818.55; 

Taiwan’s Taiex shed 0.09% to 10,427.29; 

South Korea’s Kospi shed 0.14% to 2,446.56 and 

Singapore’s Straits Times Index fell 0.2% to 3,307.42. 

Spot gold fell 20 pennies to US$1,254.78.

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Headlines of Focus (week 242)

July 23rd, 2017
This week Focus headlines

Nestle

 
 

Nestle : At above RM83 … it is still a good strong uptrend. Will it split-10 … just like what Digi did, so that it would be trading at RM8.30 … which ‘looks’ cheaper? Actually, split will not add value to the stocks, just the liquidity.

While Nestle may not attract most retailers (RM83 is expensive in their mine … no understanding that it is the same as buying into RM8.30 … or 83cents stocks, actually) … another side headlines attract us more …

BDB … Opensys .. and Bornoil.

In fact … I bought the ‘paper’ to read about Bornoil.

For the three charts, do visit https://cpteh50.blogspot.my/ as I will update the charts there (by tmr night).

TEH

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Breakfast briefing

July 21st, 2017

MarketWatch:

The real US stock lists shut at record highs on Wednesday helped halfway by innovation stocks, which outperformed a long-standing imprint, in spite of increases on the Dow being topped by a sharp drop in IBM shares . The DJIA rose 66.02 focuses, or 0.31%, to 21,640.75, the S&P 500 increased 13.22 focuses, or 0.54%, to 2,473.83 and the Nasdaq included 40.74 focuses, or 0.64%, to 6,385.04.

Vitality

Oil costs bounced just about 2% to a six-week high on Wednesday after a US report demonstrated a greater week after week attract than figure unrefined and fuel
stocks alongside an unexpected drop in distillate inventories. The Energy Information Administration (EIA) said US rough stocks fell 4.7 million barrels amid the week finished July 14, surpassing assessments for a 3.2 million attract a Reuters survey (Best Daily Stock Picks). Brent prospects for September conveyance settled up 86 pennies, or 1.8%, at US$49.70. 

Forex synopsis

*The ringgit lost 0.06% to 4.2890 versus the US$

*It was up 0.03% to 4.9400 versus euro

*Down 0.01% to 5.5847 for each pound sterling

*Down 0.02% to 3.1326 for each Singapore dollar

*Down 0.29% to 3.4047 for each Aussie

*Up 0.03% to 3.8278 for each 100 yen

Top remote stories

GSK puts old anti-toxins and UK Horlicks business on the square: 

GlaxoSmithKline (GSK) said it was thinking about the offer of its cephalosporins anti-microbials business and planned to strip its little Horlicks business in Britain, while holding the substantially greater malted savor operation India. Likewise, GSK reported a little more than 300 employment misfortunes on Wednesday and affirmed that the UK-centered MaxiNutrition sports sustenance brand would be sold. 

AmEx benefit plunges as it binge spends on client rewards:

American Express Co’s benefit declined 33% to o $1.31 billion in the second quarter, hurt halfway by higher costs, as the card organization spent vigorously on prizes to charm clients in the midst of extraordinary rivalry from enormous US banks. 

Qualcomm’s benefit conjecture frustrates as Apple fight takes toll:

Qualcomm Inc gauge final quarter benefit beneath examiners’ appraisals as the organization’s heightening patent fight with Apple Inc keeps on incurring significant damage on its authorizing business. The organization’s net salary owing to the organization tumbled to US$866 million in the second from last quarter from US$1.44 billion a year prior. Income fell 11.1% to US$5.4 billion. 

BoJ to cut expansion figures:

The Bank of Japan is set to portray the economy on Thursday however cut its swelling conjectures once more, fortifying desires that it will fall well behind major worldwide national banks in downsizing its huge boost program. 

T-Mobile quarterly outcomes top gauges as endorsers develop:

T-Mobile US Inc’s quarterly outcomes beat investigators’ assessments as the No. 3 US remote transporter on Wednesday detailed record low client whittling down and said it was thinking about a quarterly profit. The organization’s net pay rose to US$581 million from US$225 million a year prior. Add up to income developed to US$10.21 billion from US$9.29 billion. –

Top neighborhood stories

FGV reflected on offering failing to meet expectations resources:

Felda Global Ventures Holdings Bhd (FGV) is re-assessing and considering discarding its past acquisitions in ranches and other non-center organizations which won’t profit the gathering over the long haul, says acting administrator Tan Sri Dr Sulaiman Mahbob. FGV has burned through RM4bil on seven acquisitions since the organization opened up to the world in 2012, however so far has little to appear regarding returns. 

CapitaLand REIT pay imperceptibly bring down in Q2:

CapitaLand Malaysia Mall Trust recorded a net property salary of RM59.8mil for the second quarter, somewhat down from RM60mil a year prior, because of a lower commitment from the greater part of its three Klang Valley shopping centers – The Mines, Sungei Wang Plaza and Tropicana City Property – which was counterbalanced by a more grounded execution from Gurney Plaza and East Coast Mall. It saw its net benefit drop by 34.2% to RM28.14mil on a 0.2% lower income of RM91.81mil.

Singtel’s NetLink makes make a big appearance marginally above offer value:

NetLink NBN Trust, the broadband unit of Singapore Telecommunications (Singtel), transcended the offer cost in its market make a big appearance. NetLink opened exchanging at S$0.815 per unit before edging down to S$0.810 on its first day of exchange. – Reuters

Slam: Malaysian ports’ prospects to stay solid:

RAM Rating Services Bhd expects the holder and payload taking care of prospects of Malaysian ports to stay sound this year, in accordance with the continuous worldwide financial recuperation. Slam Ratings said the throughput development was relied upon to stay in the low single-digit levels, indistinguishable to the unassuming 3% recorded in 2016. 

Diminish Lim redoes TMC Life:

Singapore extremely rich person Peter Lim is infusing his stake in Bursa Malaysia-recorded TMC Life Sciences Bhd into his Singapore-recorded land firm Rowsley Ltd, in an arrangement worth up to S$1.9bil (RM6bil). The proposed procurement of the medicinal services resources will be an all-share bargain for Lim’s private vehicle Sasteria Pte Ltd, the proprietor of Thomson Medical Pte Ltd and its 70.36% stake in TMC Life. – StarBiz

Prestariang expects to raise over RM1bil for SKIN, change motivation:

Prestariang Bhd plans to raise over RM1bil from the capital market, inside six to nine months, to understand its principle change plan for its innovation stage and to execute the coordinated National Immigration Control System (SKIN). CEO Dr Abu Hasan Ismail said the organization was presently on a gathering pledges drive before commencing the advancement of SKIN. 
Temasek Padu Sdn Bhd got acknowledgment of only 0.01% from the minority investors of KUB Malaysia Bhd for its general offer. 

CIMB Thai income up 30%:

CIMB Group Holdings Bhd’s 94.11% backhanded sub-sidiary, CIMB Thai gathering, saw its merged net benefit  rise 30.1% to 477.8 million baht for the six-month time frame finished June 30, 2017 on the back of lower working costs and arrangements. CIMB Thai’s merged net benefit for the second quarter bounced 794% to 356.6 million baht (RM45.46mil).

G3 Global unit Atilze in tie-up with U Mobile:

Atilze Digital Sdn Bhd, an auxiliary of G3 Global Bhd, has consented to a cooperation arrangement with U Mobile Sdn Bhd for the arrangement of 3G and 4G LTE network for Atilze Connected Car gadgets. 

Expansion conservatives to 3.6% in June on bring down fuel costs:

Malaysia’s swelling directed for the second continuous month in June, because of lower fuel costs. Information from the Statistics Department demonstrated the shopper value list (CPI) development in June eased back to 3.6% year-on-year from 3.9% in the previous month.

Reference

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Technical Picks From CIMB Top Picks For 2nd Half Of 2017

July 21st, 2017
Gamuda (GAM)

The LT wedge pattern for Gamuda (GAM) is still intact and the price movements in the 1H2017 were in line with what we expected. After breaking out above RM4.94, the stock is now on its way higher towards its adjusted Fibonacci target of RM5.65-5.80. As long as prices continue to stay above the wedge support (currently at RM5.20), we expect the stock to reach its Fibonacci target

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