KL Trader Investment Research Articles
Maybank Research - 10 August 2012
| Technicals |
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Usual low-volume, last-minute rise The FBM KLCI rose by 6.60 points to close at 1,642.52 yesterday. Its resistance levels of 1,642 and 1,647 will cap market gains, whilst obvious support areas are located at 1,627 and 1,640. The Trading Idea is a SHORT-TERM BUY call on OLDTOWN with upside target prices of MYR2.52, MYR2.83 and MYR3.36, followed by a stop-loss of MYR2.03. |
| Other Local News |
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O&G: EBX Group to invest MYR8.6b in Malaysia. ECONOMIC ties between Malaysia and Brazil are set to soar following the move by Brazilian conglomerate, EBX Group, to commit USD6b (MYR18.6b) for fast-tracked high-impact strategic foreign direct investments (FDI) into Malaysia. In return, Malaysia would be accorded exclusive exploration and production operating rights jointly with the EBX Group in Brazil, which currently has potential petroleum resources of more than 10 billion barrels.(Source: Malaysian Reserve) Genting: 1MDB buying Genting Sanyen. 1Malaysia Development Bhd (1MDB) is buying another power asset for as much as MYR3.5b, its second in five months after a MYR8.5b acquisition of Tanjong Plc's power business. The deal is reaching its final stage and will be announced soon. This is part of 1MDB's business plan which has identified power as one of its core businesses as well as to ensure the long-term power security of the country. The acquisition is part of the government's plan to take over some of the country's first-generation IPPs whose concessions are due to expire by 2015 and 2016. (Source: Business Times) DRB HI-COM: Pos Malaysia in talks to buy Mideast courier. Pos Malaysia Bhd is in discussions with a company from the Middle East to buy a courier outfit to grow its business, group chief executive officer Datuk Khalid Abdol Rahman says. Pos Malaysia has unveiled an aggressive five-year strategic plan to double its fiscal 2011 revenue by 2017, improve current pre-tax margins of 12 per cent and explore new M&A opportunities. For the deal with the Arab company, Pos Malaysia hopes to conclude it by the end of this year. "If the deal happens, it will increase the capital expenditure we have budgeted for the current year to over RM150 million," Khalid said. (Source: Business Times) Ho Hup: Wins RM267m Baghdad job. Ho Hup Construction Company Bhd has won a contract to design and do civil and electro-mechanical works for the Al-Zuhour Water Project in Baghdad, Iraq, for MYR267m. The 10,000 cubic metres per hour capacity turnkey project, awarded by the Ministry of Municipalities and Public Works, also included the supply and installation of equipment and pipe as well as operation and maintenance. (Source: Business Times) |
| Outside Malaysia |
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U.S: Jobless claims fall in sign job market mending. Jobless claims unexpectedly dropped by 6,000 to 361,000 in the week ended Aug. 4, Labor Department figures showed. (Source: Bloomberg) U.S: Trade deficit shrank more than forecast in June as the biggest drop in crude oil prices in more than three years helped cut the nation's import bill. The gap shrank 11% to USD 42.9b, the smallest since December 2010, from USD 48b in May. Exports climbed to a record on demand for autos and industrial engines. (Source: Bloomberg) U.S: Home prices rise in 75% of cities as markets stabilized. The median sales price increased in the second quarter from a year earlier in 110 of 147 metropolitan areas measured, the National Association of Realtors said in a report. In the first quarter, 74 areas had gains. (Source: Bloomberg) U.K: London boom pushes house prices to four-year high in July. The average cost of a home in England and Wales rose 0.2% MoM from June to GBP 225,769 (USD 353,000), the most since June 2008, Acadametrics and LSL Property Services Plc said in a report published in London. Prices climbed 3.2% YoY. (Source: Bloomberg) U.K: Trade deficit widened to a record in 2Q12. The goods-trade gap increased to GBP 28.3b (USD 44.3b) from GBP 25b in the previous quarter. Exports fell 4.9%, while imports slipped 0.5%. In June, the deficit widened more than economists forecast to GBP 10.1b, partly due to the impact of public holidays. (Source: Bloomberg) China: Industrial-output growth unexpectedly slowed in July to a three-year low while investment and retail sales missed estimates. Factory production increased 9.2% YoY in July, the National Bureau of Statistics said. (Source: Bloomberg) India: Industrial production slid in June for the third time in four months, with output of capital goods plunging the most on record. Production at factories, utilities and mines declined 1.8% YoY, after a revised 2.5% YoY rise in May, the Central Statistical Office said. Capital goods output, an indication of investment in plants and machinery, slid 27.9% YoY. (Source: Bloomberg) S. Korea: The Bank of Korea kept borrowing costs at a 14-month low after a surprise cut in July as policy makers await more data to gauge the fallout from Europe's sovereign debt crisis. Governor Kim Choong Soo and his board left the benchmark seven-day repurchase rate unchanged at 3%. (Source: Bloomberg) Taiwan: Plans to increase its minimum wage for the third straight year, as higher electricity tariffs and record home prices add pressure to narrow the income gap in a slowing economy. The monthly wage will increase by 1.4% on Jan. 1 to NTD19,047 (USD 637) from NTD 18,780, Yang Hsiu-hui, a spokeswoman at the Council of Labor Affairs, said. The hourly wage will climb to NTD 109 from NTD 103, with a target to raise it to NTD 115 in 2014, she said. The proposals are subject to Cabinet approval. (Source: Bloomberg) Indonesia: Kept its benchmark interest rate unchanged for a sixth straight month as faster economic expansion and persistent inflationary pressure reduced the central bank's scope to resume monetary easing. Bank Indonesia Governor Darmin Nasution and his board kept the reference rate unchanged at a record-low 5.75%, the central bank said. (Source: Bloomberg) Australia: Employers boosted payrolls in July and the unemployment rate unexpectedly fell as the nation's resource-driven economy weathers a global slowdown. The number of people employed rose by 14,000 last month, the fourth gain in five months, erasing almost of half of the revised 28,300 fall in June, the statistics bureau said. The jobless rate fell to 5.2% from an upwardly revised 5.3%. (Source: Bloomberg) |
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
herbert456
DRBHICOM - grow your baby POS fast, fast.... !!!
2012-08-10 11:49