Daily Market Report (26 July 2019)
  • Genting Malaysia has fully resolved its dispute with Fox Entertainment Group over the development of its outdoor theme park. We expect Genting Malaysia share price to continue with its upward momentum possibly breaching the RM4 level.
  • Recall that share price was hovering at the RM4.50 level before succumbing to below the RM3 threshold when news of the dispute broke out last year.
Daily Market Report (25 July 2019)
  • The word recession has had appeared rather frequently of late. In real terms, the word “Recession” denotes a business cycle contraction when there is a general decline in economic activity usually defined as a negative economic growth and generally occur when there is a widespread drop in spending.

In Malaysia, the government is steadily pump-priming the construction sector to a tune of around RM400bn which will cascade down to other sub-segments. Therefore, we infer that recession is not happening any time soon.

Daily Market Report (24 July 2019)
  • Crude oil price has been rather steady of late with some upward bias as tension within the Gulf may be a catalyst for further upside. The Brent Crude closed 0.52% higher yesterday at US$64.16 following the tit for tat situations between Iran and the US.
  • With no apparent resolution in the immediate term, we reckon any escalations of the ongoing tension will only prop crude prices higher. May be time to look at some Oil & Gas stocks namely Hibiscus, Serba Dinamik, Bumi Armada, Yinson and Sapura Energy.
Daily Market Report (23 July 2019)
  • High expectations of a rate cut by the Feds soon may spur some buying in equities as investors will be hoping for further rate cuts going forward.
  • Though the quantum of the rate revision may be lower than expected, many are expecting that this will not be the final rate revision by the Feds this year.
  • Consensus is anticipating a 50bps reduction but the Feds may be looking to accede to a 25bps cut.
Daily Market Report (22 July 2019)
  • In view of the prevailing volatility amongst the financial markets, Gold price has been creeping up steadily of late. We noticed that Gold has hit a five year high to US$1,426/oz with the domestic price even more pronounced at RM5,869/oz which is a 10-year high.
  • Maybe it is time to re-look at some of the companies like Tomei and Poh Kong. If interested one can also take a look at Bahvest which is into gold mining in Sabah.