Bursa Malaysia inches higher early Tuesday on Petronas, Genting picks up

KUALA LUMPUR: Petronas Dagangan, Genting Bhd and Sime Darby supported the FBM KLCI's initial progress on Tuesday in front of the Budget 2018 recommendations to be declared on Friday. 

At 9.16am, the KLCI was up 3.01 focuses or 0.17% to 1,744.48. Turnover was 214.73 million offers esteemed at RM110.63mil. There were 164 gainers, 134 failures and 237 counters unaltered. 

Asian offers held inside striking separation of late decade highs on Tuesday even as Wall Street tumbled from record levels, while monetary forms kept to limit runs in front of key financial occasions, Reuters revealed. 

MSCI's broadest list of Asia-Pacific offers outside Japan was 0.1% firmer at 549.71, not a long way from a 10-year high of 554.63 set a week ago. 

Australian offers additionally edged higher and back toward a 5-1/2 month top addressed Monday, while Japan's Nikkei fell 0.2% from a 21-year high. 

With respect to Bursa Malaysia, Hong Leong Investment Bank (HLIB) Research said mid-to-vast top stocks may even now merge sideways in front of the Budget 2018 proposition this Friday. 

It additionally anticipated that lower liners related would innovation divisions could in any case be exchanged effectively. 

"Likewise, we see a pickup in exchanging volumes on coordinations players, for example, Century Logistics and Xinhwa. 

"Any adjust LRT3 contracts to be granted may add to reestablished exchanging enthusiasm among development stocks," it said. 

Petronas Dagangan added 28 sen to RM24.26, KL Kepong picked up 18 sen to RM24.58, Genting Bhd 10 sen to RM9.45, Sime Darby nine sen to RM9.20 while Petronas Gas propelled eight sen to RM18.28 with only 100 offers done. 

Denko Industrial hopped 27 sen to RM1.55. Its official director and controlling investor Datuk Seri Foo Chee Juan intends to infuse his exclusive accuracy plastic infusion forming firm into Denko at a demonstrative cost of RM1.19bil. 

Adventa included 10 sen in rising exchange on reports Top Glove may to purchase the glove producer. Top Glove lost nine sen to RM6.59 on benefit taking. 

BAT fell 60 sen to RM42 after its second from last quarter income fell by 33%. 

Tenaga and Yinson lost six sen each to RM14.24 and RM3.92.

KLSE Hot Stocks for Malaysian Traders-

• DENKO
• GREENYB
• ADVENTA
• FRONTKN
• TECFAST

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KLCI edges higher right off the bat Tuesday, oil costs plunge

KUALA LUMPUR: Blue chips squeezed out little increases early Tuesday, with Petronas Dagangan and MISC among the gainers supporting the FBM KLCI's progress, yet trailing behind the rally on the key Asian markets. 

At 9.55am, the KLCI was up 1.44 focuses or 0.08% to 1,784.18. Turnover was 657.32 million offers esteemed at RM316.42mil. There were 335 gainers, 213 failures and 306 counters unaltered. 

Asian offers joined a worldwide values rally, hitting a 10-year top on Tuesday with financial specialists breathing a moan of alleviation as North Korean feelings of dread facilitated marginally and the most dire outcome imaginable from Hurricane Irma hoped to have been kept away from, Reuters announced. 

MSCI's broadest list of Asia-Pacific offers outside Japan increased 0.1% to its most abnormal amount since late 2007. Japan's Nikkei rose 1%. 

Hong Leong Investment Bank (HLIB) Research said the exchanging tone on the nearby bourse would be genuinely comparable with the overnight execution on Wall Street and the KLCI could broaden its increases towards 1,790. 

"Merchants may investigate wares related segments, for example, steel, oil and gas and estates for the present on the back of firmer fundamental product patterns," it said. 

In the mean time, oil costs edged down in early Asian exchanging, as merchants weighed up the hosing impact on request of Hurricane Irma versus refinery restarts following Hurricane Harvey that should prompt more raw petroleum handling, Reuters detailed. 

Brent rough was down eight pennies to US$53.76 per barrel and US West Texas Intermediate fell three pennies to US$48.04 a barrel. 

Settle was the best gainer, up 60 sen to RM85.50 with 100 offers done however Dutch Lady fell 50 sen to RM58.80 with 700 offers, BAT lost 22 sen to RM43.56 with 1000 units exchanged and Ajinomoto was down eight sen to RM19.04. 

Hengyuan rose 19 sen to RM8.40 and Petron 15 sen to RM9.98. Petronas Dagangan added 12 sen to RM24.32 and MISC nine sen to RM7.38. 

Lafarge rose 15 sen to RM6.30 as investo4s looked past its baffling outcomes and trusted that the development occupations would give the impetus. 

KESM added eight sen to RM14.82 yet MPI fell 10 sen to RM13.90. Willowglen was eight higher at RM1.40. 

Genting Plantations fell 16 sen to RM10.50 while Takaful, HLFG and Pos lost six sen each to RM3.87, RM17 and RM5.54 individually. 

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Bursa Malaysia to remain close on Monday

KUALA LUMPUR: Bursa Malaysia Bhd and its backups will be shut on Monday, Sept 4, in conjunction with an exceptional open occasion proclaimed by Prime Minister Datuk Seri Mohd Najib Razak. 

The trade holding organization said in an announcement that the gathering would continue operations on Tuesday. 

Najib made the unexpected open occasion declaration at midnight on Wednesday following Malaysia's best-ever execution at the SEA Games (145 gold, 92 silver and 86 bronze decorations). 

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Bursa Malaysia ended Tuesday's morning

KUALA LUMPUR: Bursa Malaysia finished Tuesday's morning session on a positive note and in accordance with most provincial associates, with the gauge file in significantly higher, while taking prompt from the flattish overnight Wall Street, merchants said. 

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.70 of a point higher at 1,773.09, in the wake of moving in the vicinity of 1,771.60 and 1,773.71. It opened 0.50 of a point higher at 1,772.87 from Tuesday's end of 1,772.39. 

Market expansiveness was certain, as gainers drove failures 381 to 281, with 341 counters unaltered, 860 untraded and 46 others suspended. Turnover remained at 899.24 million offers worth RM700.28 million. 

A merchant said Asian markets were, for the most part higher as speculators processed income discharges from territorial corporates and a resurgent dollar, however fundamental estimation was wary, after peppy US retail deals information which activated desires of another Federal Reserve rate climb by year-end. 

On the neighborhood front, heavyweight stocks remained in extend bound exchange the nonappearance of more grounded nearby impetuses and quieted tone of US markets. 

Provincially, Japan's Nikkei 225 increased 0.02 for each penny to 19,757.13, Hong Kong's Hang Seng enhanced 0.37 for every penny to 27,276.52, South Korea's Kospi enhanced 0.50 for every penny to 2,345.96, while the Singapore Straits Times file fell 0.91 for each penny to 3,264.28 Among heavyweights, Tenaga and Public Bank increased two sen each to RM14.22 and RM20.60 individually, Sime Darby lost eight sen for RM9.30, Petronas Chemicals facilitated one sen to RM7.14, while Maybank and CIMB Group were level at RM9.69 and RM6.78. 

Of the actives, MLabs Systems increased a large portion of a sen to 21 sen, Kronologi Asia added 5.5 sen to 97.5 sen, MLabs Systems warrant enhanced one sen to 7 sen, REV Asia rose 9.5 sen to 46.5 sen, while MTouche facilitated 3.5 sen to 40 sen. 

The FBM Emas Index was up 19.87 focuses to 12,589.19, the FBM Emas Shariah Index rose 19.39 focuses to 12,722.13 and the FBMT 100 Index enhanced 16.49 focuses to 12,252.53. 

The FBM 70 bounced 64.08 focuses to 14,916.30 as the FBM Ace surged 102.15 focuses to 6,521.43. 

Division shrewd, the Finance Index expanded 19.10 focuses to 16,730.15 and the Plantation Index was 3.09 focuses better at 7,805.61, yet the Industrial Index slipped 3.25 focuses to 3,238.40. 

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Globetronics Technology Bhd’s latest quarterly results

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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Bursa Malaysia remained higher at mid-morning

KUALA LUMPUR: Bursa Malaysia stayed higher at mid-morning with picks up contributed by Petronas Gas and Genting. 

At 11 am, The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained at 1,776.03, up 0.46 of-a-point from Wednesday's end of 1,775.57.

The list had opened 1.32 focuses higher at 1,776.89.

On the more extensive market, gainers outpaced failures 326 to 287, while 330 counters were unaltered, 846 untraded and 34 others suspended.

Turnover remained at 533.24 million offers worth RM365.86 million.

Petronas Gas rose 22 sen to RM18.92 and Genting propelled 11 sen to RM9.69, as both counters contributed 1.45 focuses to the benchmark record.

Of the heavyweights, TNB enhanced two sen to RM14.20, Sime Darby and CIMB rose one sen each to RM9.60 and RM6.66 individually, Axiata fell five sen to RM4.93, Digi declined two sen to RM4.97, while Maybank and Public Bank were every level at RM9.59 and RM20.38. -

Of the actives, Frontken and Iris added one sen each to 30 sen and 16 sen, Hibiscus slid one sen to 38 sen, Bumi Armada declined 2.5 sen to 68.5 sen and Nexgram was level at 4.5 sen.

The FBM Emas Index extended 7.55 focuses to 12,623.31, the FBMT100 Index rose 5.32 focuses to 12,268.44, the FBM Ace enhanced 47.55 focuses to 6,183.19 and the FBM 70 rose 26.89 focuses to 14,931.49.

Be that as it may, the FBM Emas Shariah Index was down 3.70 focuses to 12,826.16. - 

On a sectoral premise, the Industrial Index expanded 0.14 of-a-point to 3,271.82, with the Plantation Index 10.58 focuses bring down at 7,917.14, and the Finance Index sacking 13.13 focuses to 16,836.86. 

Hot stocks of the day

MQTECH (Bursa: 0070) 0.055 +0.005 (+10.00%)

TANCO (Bursa: 2429) 0.105 +0.005 (+5.00%)

ATURMJU (Bursa: 7181) 0.340 +0.020 (+6.25%)

Reference: http://www.mmfsolutions.my/blog/malaysia-stock-pick/

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Best Stock Picks for 2017 for Malaysia Share Market

 

While uncertainties in the market are certain, this has not stopped investors and fund managers from attempting the absurd in order to hit a “home run” in their stock picks. One of the key themes that will come into play in 2017 will be the US President-elect Donald Trump’s policies as well as a possible increase in the pace of rate hikes by the US Federal Reserve. This would lead to a stronger US dollar that could benefit some of the export players.

Thematic investing continues to include construction plays with the rollout of new major infrastructure projects in the country. There has also been a rising earnings prospect for the plantation sector as crude palm oil price remains high and output is expected to improve moving into the second half of 2017.

The oil and gas sector also sees a gradual improvement in sentiment following the gradual recovery in oil prices after the deal on production cut between the Opec and non-Opec members.

Higher tourist arrivals with 2017 being Asean@50 Year and as Malaysia plays host to the 2017 Southeast Asian Games and Asean Para Games could also benefit airlines, gaming and leisure sectors. A possible early general election in the country could also give a boost to the market. With external headwinds remaining dominant driving volatility, a defensive strategy remains prominent for the Malaysian equity markets.

Inari Amertron Bhd

Inari Amertron Bhd is expected to return to double-digit growth as analysts are positive about the impact from the iPhone’s 10th anniversary that is expected to see something major planned by Apple Inc for the device.

Bloomberg data shows earnings per share for the financial year ending June 30, 2017 (FY17) is expected to grow by 23.4% year-on-year, while revenue will see an increase of 21.9%. The consensus 12-month target price for Inari is at RM3.73, indicating a potential upside of 12.3% from its last closing price on Dec 30, 2016 at RM3.32. Ten out of 12 research houses give a “buy” call on the semiconductor player.

Magni-Tech Industries Bhd

Magni-Tech Industries Bhd, the largest original equipment manufacturer for Nike in Malaysia for apparel products, could ride on the sportswear giant’s impressive growth story as Nike’s latest second quarter for fiscal year 2017 beat estimates on both sales and earnings per share.

Last year, Magni-Tech’s share price performance was disappointing as it fell by 6.47% to close at RM4.19 on the last day of 2016 despite an increase of 31.9% in its net profit for the second financial quarter ended Oct 31, 2016 to RM28.5 million.

Inter-Pacific Research Sdn Bhd has maintained its “buy” call on the apparel manufacturer with a target price of RM5.72, indicating a 36.5% upside from its last closing price on Dec 30, 2016.

With a price-earnings ratio of about 8.5 times (below the industry’s average of 9.3 times) and a strong balance sheet, the year ahead looks bright for Magni-Tech although Inter-Pacific Research cautioned that upside might take some time to materialise. It has zero debt with a total cash holding of RM62.6 million and RM74.1 million invested in investment securiti

Magni-Tech Industries Bhd

Magni-Tech Industries Bhd, the largest original equipment manufacturer for Nike in Malaysia for apparel products, could ride on the sportswear giant’s impressive growth story as Nike’s latest second quarter for fiscal year 2017 beat estimates on both sales and earnings per share.

Last year, Magni-Tech’s share price performance was disappointing as it fell by 6.47% to close at RM4.19 on the last day of 2016 despite an increase of 31.9% in its net profit for the second financial quarter ended Oct 31, 2016 to RM28.5 million.

Inter-Pacific Research Sdn Bhd has maintained its “buy” call on the apparel manufacturer with a target price of RM5.72, indicating a 36.5% upside from its last closing price on Dec 30, 2016.

With a price-earnings ratio of about 8.5 times (below the industry’s average of 9.3 times) and a strong balance sheet, the year ahead looks bright for Magni-Tech although Inter-Pacific Research cautioned that upside might take some time to materialise. It has zero debt with a total cash holding of RM62.6 million and RM74.1 million invested in investment securiti

Gamuda Bhd

Gamuda Bhd has significant upside due to its strong outstanding order book of RM9 billion, supported by the MMC-Gamuda joint venture which secured the RM15.5 billion mass rapid transit (MRT) Line 2 underground works package in March 2016, according to TA Securities.

“We expect close to RM500 million of project development partner (PDP) fee to flow directly to profit before tax throughout the implementation of [the] MRT Line 2,” the research house said in a report.

Other catalysts include Gamuda’s works package for Pan Borneo Highway worth RM1.57 billion and the appointment of SRS Consortium, in which Gamuda has a 60% stake, as the PDP for the Penang Transport Master Plan (PTMP).

Sime Darby Bhd

Sime Darby Bhd, which recently saw Tan Sri Abdul Wahid Omar take up the helm of its controlling shareholder, Permodalan Nasional Bhd (PNB), is set to benefit from a  proposed corporate restructuring exercises.

“The expectation is that [Wahid] will unlock value [via] restructuring,” a head of research said.

PNB had a 52.98% stake in Sime Darby as at Nov 30, 2016, according to the group’s website.

Sime Darby was also highlighted as one of CIMB Research’s big cap picks in their strategy note on Dec 2.

“We expect the share price to rerate on potential plans to unlock value and better earnings prospects in view of the higher crude palm oil and coal prices in the future quarters,” CIMB Research said.

Genting Malaysia Bhd

Genting Malaysia Bhd has been touted as a darling of the gaming industry for 2017 on expectations that the Genting Integrated Tourism Plan (GITP) will boost its earnings and improve market sentiment due to the legalisation of casino operations in Japan.

Research houses have pointed to expected higher visitor growth as the main catalyst for the stock in light of the full launch of the first phase of the GITP by end-2017, which includes the opening of the 20th Century Fox theme park.

The consensus 12-month target price for Genting Malaysia is RM5.13 based on estimates by 17 out of 23 investors. The stock was last traded at RM4.73, edging up from its 2017 opening price of RM4.58. Fourteen analysts have placed a “buy” call on the stock, while seven have recommended to “hold”.

TA Ann Holdings Bhd

After a year of lacklustre performance, Sarawak-based Ta Ann Holdings Bhd is set to benefit from the improved demand for timber as well as the turnaround in the plantation sector. The company has been chosen by Kenanga Research, AffinHwang Capital and Public Investment Bank Research as their stock picks for 2017 in their latest strategy reports.

KAF Investment Bank chief investment officer Gan Kong Yik likes Ta Ann as he is upbeat about the plantation sector in 2017 with crude palm oil (CPO) price expected to be firmer.

Furthermore, the demand for timber is anticipated to increase in 2017.

Another plus point for Ta Ann is that it is seen as a beneficiary from the stronger US dollar.

In a strategy note dated Jan 4, Kenanga Research expects Ta Ann to be “a double beneficiary of the sharp CPO price appreciation, as well as stronger US dollar” as the company exports nearly all of its timber products, and sales are denominated in US dollars while costs are entirely in ringgit terms.

SapuraKencana Petroleum Bhd

Integrated oil and gas (O&G) services provider SapuraKencana Petroleum Bhd is one of the biggest beneficiaries of the oil production cut pledge between Opec and non-Opec members.

The deal is expected to start a cyclical recovery for the O&G sector and SapuraKencana is viewed as a good proxy to ride on the gradual recovery of the sector. Several research houses have upgraded their call on the O&G sector recently, after Opec and non-Opec members pledged to cut production.

Chosen as one of the stock picks for 2017 by Public Investment Bank Research, the research house said the worst is likely behind for SapuraKencana.

Given its ability to undertake comprehensive scope of works across the O&G suite, SapuraKencana is said to stand in a better position against its peers on expected recovery in O&G activities.

Bumi Armada Bhd

Bumi Armada Bhd, which saw its share price fall more than 40%, may provide another opportunity for investors in anticipation of improving sentiment and operating outlook of the oil and gas sector.

TA Investment Management Bhd executive director Choo Swee Kee pointed out that Bumi Armada shares were oversold in the past two years and expected there would be strong earnings growth for its floating production storage and offloading (FPSO) business.

“Bumi Armada is one of our top picks for 2017. Moving forward, we think there will be stronger earnings growth for the FPSO. We also like earnings generated from the FPSO as they are seen as more stable,” he told The Edge Financial Daily. Bumi Armada is one of the world’s largest FPSO players.

Public Investment Bank, which has a “buy” call on the counter, expects to see a boost in earnings from four major FPSO & floating gas solutions (FGS) contributions in 2017, according to its note dated Nov 24, 2016.

Protasco Bhd

Protasco Bhd is one of the construction players that are expected to benefit from an early general election in 2017. The well-established player in the construction industry is focused on road maintenance works, where most of them are based on concessions awarded by state and federal governments, providing the company with a steady income stream.

With the heightened expectation of the 14th general election happening in 2017, there is a potential for  extra emergency road maintenance works to be carried out, according to Kenanga Research.

Protasco has an outstanding order book of about RM4.4 billion for its maintenance concessions, which could last for about 10 years, contributing about RM400 million to its revenue yearly.

Looking forward, Protasco is eyeing more sizeable concessions, which could potentially contribute another RM100 million to RM200 million to its top-line.


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KLCI market update

FKLCI expanded 1 focuses or 0.05% to 1740 on Thursday, April 20 from 1739 in the past exchanging session. Generally, the Malaysia Stock Market (FTSE KLCI) achieved a record-breaking high of 1887.07 in May of 2014 and a record low of 89.04 in April of 1977.

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Highest foreign net inflow since 2013

KUALA LUMPUR: Foreign financial specialists bought an astounding RM1.76bil net a week ago, a sum not seen since May 2013, after the result of the thirteenth General Election (GE13), as per MIDF Research. 

Without a doubt, the exploration house said the last time the sum surpassed RM1bil was in March a year ago. 

"Remote financial specialists have now been net purchasers on Bursa for six back to back weeks. As of Friday, outside net purchasing had stretched out for six exchanging days. Eminently, the normal sum wiped every day amid the six days was RM305mil. 

"In March 2016, when exchanging on Bursa was this exceptional, the normal sum cleaned up was just RM264mil," MIDF said in its week after week finance stream report. 

On Friday, the purchasing transformed into a craze with outsiders procured a monstrous RM816mil, the most astounding since May 7, 2013, two days after the GE13. 

Likewise, MIDF noticed that remote interest additionally surged to a level not seen since May 2013. The normal day by day exchange esteem (ADTV) surged to RM1.69bil, a 71% expansion contrasted and that in the previous week. 

The arrival of outside financial specialists have concurred a truly necessary breathing space for neighborhood speculators to help their position and acknowledge benefits. 

Neighborhood organizations offloaded RM1.58bil net a week ago. Since start of the year, nearby store directors have arranged RM2.80bil net. 

MIDF noticed that the retail advertise stayed lively as retailers exploited the remote liquidity torrential slide to offload RM180mil while retail ADTV surged to RM1.2bil, second week consecutively it surpassed RM1bil. 

A week ago, Tenaga Nasional enrolled the most astounding net cash inflow of RM6.73mil. Its share cost, be that as it may, slacked as it finished unaltered against the FBM KLCI which ascended by 1.61% amid the week under audit. 

AirAsia recorded the second most noteworthy net cash inflow of RM6.16mil. As needs be, its share cost beat against the market benchmark with a 2.47% week after week pick up. 

The spending bearer reported that it had gone into a deal and buy concurrence with Caterhamjet Global Ltd to secure the Bombardier BD-700-1A10 Global Express for US$10mil money with an arrangement to work sanction and private unscheduled business stream operations. 

UOA Development saw the third most elevated net cash inflow of RM5.81mil. 

In the interim, Malayan Banking saw the biggest net cash outpouring of RM28.48mil a week ago. Its stock cost failed to meet expectations in spite of a 1.48% pick up opposite the FBM KLCI which best in class by a bigger 1.61% amid the audit week. 

On this score, it is striking that net cash surge in the midst of propelling offer cost demonstrates an offer on quality (SOS) position among a few financial specialists. 

Open Bank recorded the second biggest net cash outpouring of RM27.42mil amid the week while Hong Leong Bank enlisted the third biggest net cash surge at RM12.60mil.

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Public Bank and AmBank weigh on KLCI early Friday

KUALA LUMPUR: Public Bank and AmBank fell early Friday on broadened benefit taking, dragging the FBM KLCI more profound into the red, regardless of a slight recuperation in raw petroleum costs, as speculators turned wary however Iskandar Waterfront City (IWC) developed its rally. 

At 9.30am, the KLCI was down 2.1 focuses or 0.12% to 1,715.32. Turnover was 463.05 million shares esteemed at RM271.37mil. There were 208 gainers, 226 washouts and 281 counters unaltered. 

Asian stocks edged up and the dollar rose to 1-1/2-month highs versus the yen on Friday in front of the US non-cultivate payrolls report due later in the day, as indicated by Reuters. 

MSCI's broadest list of Asia-Pacific shares outside Japan included 0.1%, taking signs from an unassuming ricochet in Wall Street overnight. Japan's Nikkei climbed 1% on the back of a weaker yen and Australian stocks included 0.4%. 

In the mean time, US rough costs edged up on Friday in the wake of dipping under US$50 per barrel interestingly since December in the past session, forced by worries that a worldwide supply overabundance is demonstrating unshakably persevering, the wire detailed. 

US West Texas Intermediate unrefined (WTI) was up 23 pennies at US$49.51 a barrel at 0027 GMT. 

Hong Leong Investment Bank (HLIB) Research said in spite of the fact that deal chasing exercises could keep on providing a fleeting specialized bounce back on Wall Street in front of the occupations information today, it anticipated that assumption would be careful preceding the FOMC meeting one week from now. 

"Then, offering weight may reach out on the O&G heavyweights inside our neighborhood bourse in the midst of weaker unrefined petroleum costs. By and by, dealers could discover openings inside in a general sense strong lower liners and little tops in the event that they turn oversold," it said. 

Gold costs dipped under the key level of $1,200 an ounce on Friday to hit their most reduced in more than five weeks, constrained by a more grounded dollar in front of U.S. occupations information later in the day, Reuters announced. 

HLFG was the top washout, down 14 sen to RM15.42, Public Bank lost 12 sen to RM19.68 and AmBank shed seven sen to RM4.86 while AFG was down five sen to RM4. 

Petron Malaysia lost 13 sen to FM5.85 while Petronas Gas shed eight sen to RM19.60. 

IHH Healthcare was down five sen to RM5.87. 

Nonetheless, IWC surged 21 sen to RM1.97 in dynamic exchange after an elucidation that Iskandar Waterfront Holdings Sdn Bhd (IWH) will incorporate its 30% stake in the Bandar Malaysia extend as a major aspect of its proposed corporate exercise to assume control over the posting status IWC. 

Maybank resisted the pattern to climb eight sen to RM8.81. 

KESM added 40 sen to RM10.42. Its net benefit for its 2QFY17 rose 42.5% on-year to RM9.98mil on higher interest for its consume in and test administrations. MPI rose eight sen to RM9.98. 

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KLCI up nearly 15 points at midday

KUALA LUMPUR: Maybank, Petronas Chemicals and Sime Darby supported the FBM KLCI's rally on Thursday on firm reserve purchasing as speculator estimation livened up in accordance with the key local markets. 

At 12.30pm, the KLCI was up 14.53 focuses or 0.86% to 1,712.22. Turnover was 1.83 billion shares esteemed at RM1.25bil. There were 515 gainers, 268 washouts and 360 counters unaltered. 

The dollar hit a seven-week high on Wednesday after hawkish remarks from two Federal Reserve authorities late on Tuesday helped desires that the U.S. national bank is nearer to raising financing costs, Reuters detailed. 

The ringgit edged lower against the US dollar to 4.4485 from 4.4480 yet progressed against the pound sterling to 5.4633 from 5.5047 and rose against the Singapore dollar to 3.1525 from 3.1577. It likewise moved against the Euro to 4.6851 from 4.6900. 

US light raw petroleum fell 12 pennies to US$53.71 while Brent shed seven pennies to US$56.29 after US inventories hit record high. 

Petronas Dagangan rose 42 sen to RM25.40, Petronas Chemicals added 16 sen to RM7.46 and pushed the KLCI up 2.12 focuses however Petronas Gas shed two sen to RM19.98. 

Rough palm oil for third-month conveyance shed RM4 to RM2,827 per ton. KL Kepong rose 20 sen to RM8.70, Far East added 20 sen to RM8.70, PPB Group 16 sen to RM16.76 and IOI Corp five sen to RM4.73. Sime Darby's nine sen pick up to RM9.13 added 1.01 focuses to the KLCI. 

BAT was the top gainer among customers, up 26 sen to RM48.86 while F&N added 18 sen to RM23.44. Sugar refiner and wholesaler MSM picked up 17 sen to RM4.60 after sugar cost was expanded. 

Be that as it may, Heineken lost 18 sen to RM17.962 on benefit taking and Carlsberg six sen bring down at RM14.42. 

With respect to fund and banks stocks, HLFG rose 30 sen to RM15.40 while Maybank's 14 sen pick up to RM8.76 pushed the KLCI up 2.36 focuses, Hong Leong Bank additionally picked up 14 sen to RM13.48, RHB Bank seven sen to RM5.01, CIMB five sen to RM5.14 and Public Bank added four sen to RM19.98. 

Time dotCom added 22 sen to RM8.67 and little top stock JHM surged 21 sen to RM2.64. 

Among the key local markets, 

Japan's Nikkei 225 rose 0.97% to 19,582.61; 

Hong Kong's Hang Seng Index added 0.36% to 23,862.31; 

CSI 300 shed 0.12% to 3,454.42; 

Shanghai's Composite Index inche dup 0.03% to 3,248.02; 

Hang Seng China Enterprise increased 0.5% to 10,339.10; 

Taiwan's Taiex fell 0.23% to 9,652.19; 

South Korea's Kospi rose 0.47% to 2,101.54 and 

Singapore's Straits Times Index added 0.51% to 3,138.67. 

Spot gold fell US$3.11 to US$1,246.58.

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Another tough day for KLCI, more downside seen

KUALA LUMPUR: Blue chips plunged early Tuesday with Petronas Gas and UMW among the top decliners while JAKS Resources went under substantial offering weight after its FY16 budgetary outcomes. 

At 9.37am, the KLCI was down 0.12 of an indicate or 0.01% 1,693.72. Turnover was 376.02 million shares esteemed at RM196.83mil. There were 173 gainers, 311 washouts and 284 counters unaltered. 

The US dollar was consistent from the get-go Tuesday, getting a charge out of support after US President Donald Trump hailed a major lift in government boost, and looked for a "notable" increment in military spending, Reuters detailed. 

Trump will request that the US Congress help Pentagon spending in the following financial year by US$54bil in his first spending proposition, a White House spending official said on Monday. 

Maybank Investment Bank Research said the KLCI had on Monday pared early picks up to settle in red, falling 4.51 focuses to close at 1,693.84. Negative opinion influenced the more extensive market with washouts outpacing gainers by 643 to 297. Exchanging volume was 2.90 billion shares worth RM2.14bil. 

"The benchmark list is presently beneath the 20-day EMA line in this way prone to test the accompanying bolster levels, which are pegged at 1,685 and 1,667," said the exploration house. 

JAKS Resources fell 17 sen to RM1.06 with 19.26 million shares done in the wake of posting a weaker-than-anticipated outcomes for FY16. 

Be that as it may, Affin Hwang Capital Research is keeping up its Buy call with a lower target cost of RM1.70 (RM2), as the essentials of the organization stays unaltered, in spite of the baffling feature benefit after assessment and minority enthusiasm of RM7000,000 for FY16. 

"The weaker than anticipated outcomes was essentially because of a few unique cases, and JAKS's powerlessness to perceived any EPC contract income in the 4QFY16," it said. 

UMW Oil and Gas fell five sen to 63.5 sen in dynamic exchange subsequent to making arrangements of about RM900mil in FY16. 

MSC fell 38 sen to RM3.73, Petronas Gas 30 sen bring down at RM19.98 and UMW 20 sen to RM5.38. Age fell 17 sen to RM2.33 on benefit taking. 

BAT bounced back to climb 42 sen to RM48.92, Oriental Holdings added 20 sen to RM6.65. 

Petronas Dagangan rose 10 sen to RM24.58, Sime Darby nine sen to RM9.16 and KL Kepong eight sen to RM24.28.

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Barron’s: Slowing sales, strong dollar could hit Harley stock

Abating deals could bring about shares of Harley-Davidson Inc. to decay subsequent to being on the ascent for a great part of the previous 12 months, as indicated by a Barron's main story dated Feb. 27. 

The article takes note of that the celebrated around the world cruiser producer's client base of moderately aged Americans is contracting and a solid US dollar harms the productivity of universal deals. 

Barron's trusts the stock ought to exchange the low US$40s, down from around US$56 on Friday. 

"With such a variety of mainstream difficulties, it's difficult to comprehend why Harley shares are as yet cruising along close to the high end of their valuation extend," the story states.

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KLCI seen slipping to key 1,700 early Friday, Air Asia in focus

KUALA LUMPUR: Blue chips slipped in early Friday exchange, with the FBM KLCI making a beeline for the key 1,700 level on benefit taking as speculators processed the most recent cluster of blended corporate outcomes. 

Offers and the call warrants of minimal effort bearer AirAsia was in center after the arrival of its outcomes. 

At 9.30am, the KLCI was down 2.37 focuses or 0.14% to 1,702.11. Turnover was 475.21 million shares esteemed at RM219.30mil. There were 203 gainers, 264 failures and 249 counters unaltered. 

Kenanga Investment Bank said by and large, the KLCI stays in a positive medium-longer term slant. 

Be that as it may, the KLCI seems, by all accounts, to be balanced for a close term benefit taking after quickly indenting a response high of 1,720 prior in the week. 

"See that yesterday's dark bodied bar reflect maintained shortcoming for the duration of the day, while the MACD has recently crossed beneath its flag line. From here, we see the likelihood of the KLCI pulling back towards 1695/1700 (S1) before collecting some support. 

"Coming up short which, the following bolster level is situated at 1,680 (S2). Overhead resistance meanwhile is situated at 1,710 (R1) and 1,720 (R2)," it said. 

Reuters announced US oil costs fell on Friday after government information discharged late on Thursday demonstrated stockpiles climbed a week ago for a seventh straight week, despite the fact that misfortunes were quieted as stock development was well underneath desires. 

US West Texas Intermediate fell 13 pennies to US$54.32 a barrel by 0048 GMT, having quit for the day pennies in the past session. 

Brent unrefined was exchanging down 13 pennies additionally at US$56.45. The agreement rose 74 pennies in the past session to settle at US$56.58. 

AirAsia expanded its decay, falling six sen to RM2.70 with 8.34 million shares done. Its call warrants C49 fell 2.5 sen to 25.5 sen and C46 was down 1.5 sen to 18.5 sen in dynamic exchange. 

KLCI stock IHH Healthcare fell 17 sen to RM5.98 and Hong Leong Bank was down eight sento RM13.48. 

Tasek fell the most, down 46 sen to RM12.72, Gas Malaysia lost 17 sen to RM2.81while Globetronics surrendered 12 sen to RM4.28. 

Among the purchaser stocks, Heineken fell 14 sen to RM17.04 with 200 shares done while Apollo was down 11 sen to RM5.16. In any case, Dutch Lady added 70 sen to RM54.70 and Bestle picked up 62 sen to RM76.60 and BAT 32 sen higher at RM49.92. 

IGB surged 33 sen to RM2.85 and Goldis 12 sen higher at RM2.62. On Thursday, Goldis made an offer to secure all the rest of the shares in IGB at RM3 a share.

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Hong Leong Bank leads KLCI higher early Wednesday

KUALA LUMPUR: Hong Leong Bank drove blue chips higher early Wednesday after its firm arrangement of money related outcomes, shoring the market up after a disillusioning Tuesday, however experts advised about financial specialists offering into quality. 

At 9.30am, the KLCI was up only 1.33 focuses or 0.08% to 1,707.88. Turnover was 468.98 million shares esteemed at RM223.35mil. There were 267 gainers and 156 failures. 

Hong Leong Investment Bank (HLIB) Research said as the Trump-rally reached out in the midst of superior to expected corporate income for 4Q16, it may foresee that the Dow Jones Industrial Average may visit the resistance of 20,800-21,000. 

Likewise, brokers will keep on monitoring the advance on financial motivation that will be uncovered by Donald Trump in the close term. 

"On our neighborhood front, following the bullish notions on Wall Street, combined with recuperating raw petroleum costs, we can expect gentle purchasing enthusiasm inside the O&G stocks. 

"Nonetheless, offering into quality procedure will be re-sent no matter how you look at it if the KLCI retests the 1,720-1,730 level as specialized readings propose that the key file is overbought," it exhorted speculators. 

Hong Leong Bank rose 12 sen to RM13.62 and HLFG added eight sen to RM15.28. 

Scope Tree was the top entertainer as the furniture creator added 22 sen to RM5.89, Petron and Mercury picked up 13 sen each to RM4.60 and RM1.39. 

Age added 11 sen to RM2.40 and Ann Joo nine sen higher at RM2.62. 

AirAsia rose four sen to RM2.79 with 10.9 million shares done while its call warrants C49 added 0.5 sen to 28.5 sen. 

Carlsberg was the top washout, down 32 sen to RM14.42 after its entire year income plunged, Pharmaniaga fell 25 sen to RM4.80 subsequent to posting misfortunes in the final quarter. 

KL Kepong fell 10 sen to RM24.14 and Rhone MA was down 5.5 sen to 92 sen. 

Reuters detailed US oil costs held almost seven-week highs on Wednesday after OpecP flagged hopefulness over its arrangement with different makers including Russia to control creation and clear an excess that has weighed available since 2014. 

The US April rough get, the new front-month future, was up three pennies at US$54.36 a barrel at 0028 GMT. On Tuesday, the March contract terminated up 66 pennies, or 1.2%, at US$54.06, in the wake of cresting at US$54.68, the most astounding since Jan 3.

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Bursa Malaysia Stock Tips

MarketWatch: US stock financial specialists may look to a large group of results from shopper confronting organizations including Wal-Mart Stores Inc this week for signs on whether the current market rally has more space to run. - Reuters 

Beat remote stories 

Kraft pulls back US$143b offer to converge with Unilever: US nourishment organization Kraft Heinz Co pulled back its proposition for a US$143 billion merger with bigger adversary Unilever Plc, the organizations said on Sunday, bringing up issues about whether Kraft could turn its concentration to another objective. - Reuters 

Survey: Japan Inc signals lift to household capex yet less enthused about the US: 33% of Japanese firms are hoping to lift business speculation at home in the following money related year, however organizations are less bullish about capital spending in the United States because of vulnerability over the Trump organization's arrangements, a Reuters survey appeared. SoftBank willing to surrender control of Sprint to tempt T-Mobile: Japan's SoftBank Group Corp is set up to surrender control of Sprint Corp to Deutsche Telekom AG's T-Mobile US Inc to secure a merger of the two US remote transporters, as per individuals acquainted with the matter. - Reuters 

Inbound China M&A takes off on customer guarantee: Overseas acquisitions by Chinese purchasers are cooling following two record years as Beijing reins in capital surges, however bargains into China are on the ascent, and new standards will make it less demanding for remote purchasers to tap China's monster shopper potential. Inbound M&A bargains have as of now achieved US$7.1 billion so far in 2017 and are well on track to beat the 2016 aggregate of US$46 billion, while outbound arrangements tumbled over 40% to US$8.4 billion, Thomson Reuters information appeared.

Our Recommendation for KLSE investors

1. ARMADA
2. DNEX
3. MPAY
4. IWCITY
5. SEDANIA

KLSE INTRADAY SIGNALS: BUY MPAY AT 0.235 TARGET 0.245, 0.255 SL 0.220 

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