Weekly Market Review (21 May 2019)
  • Major markets ended on negative territory last week following the escalating trade tension between US and China. The major Asian markets declined while the Dow Jones Industrial Average index advanced 1.7% or 439 points. Meanwhile, the FBM KLCI closed 0.27% higher to end the week at 1,605.36 points.
  • Weekly foreign funds flow continued with RM1.18bn net outflow pushing YTD outflow to over RM4.49bn. Performance amongst the FBMKLCI components saw 14 gainers to 13 losers.
  • Top 3 performers include DIALOG (+7.14%), TOP GLOVE (+5.78%) and HARTA (+5.59%) while the top 3 losers were SIMEPLT (-4.68%), AIRPORTS (-1.90%) and MISC (-1.65%).
Daily Market Report (17 May 2019)
  • Crude oil price strengthened to USD72.80/barrel as tension in the Middle East escalates. Crude oil price have had gained by more than 35% year to date from USD53.80/barrel as at beginning of the year.
  • If prevailing price is sustainable, we reckon more crude oil related jobs could be in the offing hence should boost the O&G players. Companies like Dialog, Hibiscus, Dayang, Uzma, Serba Dinamik and Straits Inter Logistics are some of our favourites.
Daily Market Report (16 May 2019)
  • Leong Hup International Bhd will be listed on Bursa Malaysia today. The company is one of the largest poultry based player in the country.
  • As the biggest initial public offering (IPO) so far this year, analysts are rather positive on the company with fair value ranging from RM1.27 to RM1.43 from its IPO price of RM1.10/share.
  • Leong Hup’s pre-listing market capitalisation is tagged at RM4bn.
Daily Market Report (15 May 2019)
  • A more dovish statement by Trump on the trade war with China had sent positivity on Wall Street thus we may witness regional markets to trend higher today.
  • Locally the equity market is expected to see some bargain hunting activities with the FBM KLCI to test the immediate resistance at 1,620.
  • Malaysia being the worst performer on both currency and equity within the region is not expected to see any immediate reversal in fortune but we expect foreign direct investment (FDIs) especially from China will lent support on the stock market and currency in due course.
Daily Market Report (14 May 2019)
  • The tit for tat developments between the US and China on trade tariffs continue to be the main focus for global equity markets which is not going to end anytime soon. As such we may see continue market volatility with more downward bias.
  • Domestically, the FBM KLCI is supported at the psychological 1,600 level with the next support is seen at the 1,570 mark. Meanwhile, there is a likelihood that China may abandon the import of soya oil and look to crude palm oil (CPO) as the alternative thus providing certain support for the CPO prices in the short term.