Posted by Mark T Bird > 2018-02-03 16:02 | Report Abuse

Exxon sees global oil demand plunging by 2040 under climate regulations

HOUSTON: Exxon Mobil Corp said on Friday that it expects global oil demand to drop sharply by 2040 if regulations aimed at limiting the impact of greenhouse gas emissions on climate are fully implemented.

Under this scenario, Exxon projected world oil consumption will drop 0.4 percent annually to 2040 to about 78 million barrels per day (bpd). That is about 25 percent below current levels, which the U.S. Energy Information Administration puts at 98 million bpd.

The findings were contained in a report produced after Exxon's shareholders supported a climate-impact resolution last year and Exxon's board approved a plan to analyze the effects.

Exxon's climate-impact report comes roughly three years after almost 200 nations met in Paris to set a goal of limiting the rise in the world's average surface temperatures.

President Donald Trump has since pulled the United States out of the Paris climate accord, and it was unclear whether Paris accord policies would be fully implemented around the world.

The study added weight to arguments that laws and regulations to limit the rise in global temperatures to below 2 degrees Celsius (3.6 degrees Fahrenheit) from pre-industrial levels will succeed in curbing fossil fuel consumption.

But Exxon stopped short of laying out how efforts to limit carbon emissions could impact its business, data long sought by some shareholders. In a separate report published on Friday that did not take into account climate legislation, Exxon forecast population growth will drive oil demand higher by about 20 percent by 2040.

Exxon's study saw demand for natural gas, considered a cleaner-burning fuel than oil, growing 0.5 percent per year to about 445 billion cubic feet per day under the same scenario.

Demand for power generated by solar panels, wind turbines and other renewable sources is expected to rise 4.5 percent annually through 2040 under this scenario, Exxon said.

The report followed years of pressure by investors and environmental activists urging the company to describe the potential impact of a warming climate on its operations. Last year, their climate-impact resolution was backed by 62 percent of shares voted at Exxon's annual meeting.

The report came the same day that Exxon posted quarterly results that disappointed Wall Street, sending its shares down more than 5 percent.

While sponsors of the shareholder resolution applauded Exxon on Friday for being more transparent than in years past, there was still frustration that the company did not disclose how climate policies would affect its finances.

"That is the meat that we're missing in the sandwich here," said Tracey Rembert of Christian Brothers Investment Services, a co-sponsor of the climate-impact resolution.

A spokesman for New York State Comptroller Thomas DiNapoli, who oversees state pension funds and was a resolution sponsor, said via e-mail: "We are looking at Exxon's report closely and look forward to discussing it with the company in the coming days."

SECOND REPORT

Exxon on Friday also published its annual outlook for energy demand. In that report, the company does not take into account a scenario to limit temperature rise and projects energy supply and demand rising for the foreseeable future.

The report said global carbon dioxide emissions are likely to peak by 2040, at about 10 percent above 2016 levels, as consumption shifts to lower-emission natural gas, renewables and nuclear.

"It's a dual challenge – we need to meet society's growing need for energy while addressing the risks of climate change," Exxon Chief Executive Darren Woods said in a press release. - Reuters
Read more at https://www.thestar.com.my/business/business-news/2018/02/03/exxon-sees-global-oil-demand-plunging-by-2040-under-climate-regulations/#xueHPbpRziWSwF5I.99

Posted by Mark T Bird > 2018-02-04 08:33 | Report Abuse

Useful Knowledge for Investors - Koon Yew Yin
https://klse.i3investor.com/blogs/koonyewyinblog/145835.jsp

Posted by Mark T Bird > 2018-02-04 09:31 | Report Abuse

Amid stock market selloff, US profit forecasts rise

NEW YORK: Wall Street's main stock indexes suffered their worst week in two years as bond yields soared and renewed fears of inflation gripped investors.

But amid the selloff, corporate earnings forecasts keep improving.

Forecasts for earnings, one of the fundamental factors that drives stock prices, are rising fast as analysts factor in benefits from the U.S. tax overhaul.

Optimism over forecasts has caught the attention of anxious investors, who hope that strong earnings can support lofty stock valuations and offset the concerns over rising bond yields and the pace of Federal Reserve rate hikes. Rising interest rates in general mean higher borrowing costs for companies.

image: https://content.aimatch.com/default.gif

This week, fears of higher rates overwhelmed the upbeat profit picture as the benchmark S&P 500 stock index fell 3.9 percent and raised some concern about a deeper pullback.

"This uptick in bond rates has everybody nervous obviously," said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas, Texas.

"But we step back and look, and so far earnings have been awful good. Even though you have seen rates move up some here, they are still very low, inflation is still low," he said.

With half of the S&P 500 index companies still to report fourth-quarter results and potentially give guidance on 2018, profit estimates are likely to increase further.

Even after the selloff this week, the S&P 500 is up 3.3 percent for this year and that is on top of a 19.4-percent gain for 2017. Whether this week's downturn in global equity markets continues will depend in part on upcoming earnings reports.

Reports from both Apple and Google parent Alphabet late Thursday disappointed investors, as did Friday's results from ExxonMobil and Chevron, but fourth-quarter S&P 500 company results overall have been much stronger than expected.

Among changes to the tax law, the corporate income tax rate drops to 21 percent from 35 percent, so earnings estimates for the first quarter and all of 2018 have jumped.

First-quarter profit growth for S&P 500 companies is now estimated at 17.7 percent, according to Thomson Reuters data, up from 11.7 percent on Dec. 20, when both houses of Congress approved the tax revamp. Earnings growth for 2018 is now forecast at 18.2 percent, up from 11.5 percent on Dec. 20.

Typically, expectations decline as the earnings reporting season for the quarter approaches. On average, profit growth expectations fall by four percentage points from the start of the quarter to the start of earnings season, said David Aurelio, senior research analyst at Thomson Reuters.

This January, revisions to S&P 500 2018 earnings estimates were 4.3 times more positive than negative, according to Bank of America Merrill Lynch. The one-month ratio of upward to downward revisions was the highest since at least 1986, as far back as the bank's data goes.

All of the S&P 500 companies together are expected to show earnings of about $155 per share this year in aggregate, up about $9 since Dec. 20, Thomson Reuters' estimates show.

The tax reform benefit is estimated to add more than that, however, a full $13, which suggests there "there is more room to run," BofA-ML strategists said in a note.

In addition to the tax law, U.S. companies' earnings are benefiting from improving global economic growth and the weaker U.S. dollar, which helps U.S. multinationals exports sales, said Jill Carey Hall, equity and quant strategist at Bank of America-Merrill Lynch.

Those factors could help to underpin U.S. earnings even after the tax benefit is priced in.

"Stocks may be have been overbought, but some of that was alleviated this week, and global growth and profit growth are still intact," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Among companies due to report next week are Walt Disney , General Motors, several biotech companies including Gilead and restaurants including Chipotle Mexican Grill. - Reuters
Read more at https://www.thestar.com.my/business/business-news/2018/02/04/amid-stock-market-selloff-us-profit-forecasts-rise/#6vebpYXvfKrBPB7W.99

Posted by 饿灵易发 @2018 > 2018-02-04 09:45 | Report Abuse

Kut'_moh_ning

Posted by Mark T Bird > 2018-02-05 16:53 | Report Abuse

MCT shareholders told to reject unfair, unreasonable takeover offer

KUALA LUMPUR (Feb 5): MCT Bhd shareholders have been told to reject the takeover bid launched by Philippines-based property developer Ayala Land Inc's unit Regent Wise Investments Ltd, which has been deemed "not fair and not reasonable" by independent adviser Kenanga Investment Bank Bhd (Kenanga IB).

On Jan 2, Regent Wise bought 230.12 million shares or a 17.24% stake in MCT from Tan Sri Goh Ming Choon for RM202.5 million or 88 sen per share.

In an independent advice circular today, Kenanga IB said in view that the offer price of 88 sen is lower than and represents a discount of 36.23% over the estimated fair value per MCT share of RM1.38, the offer is deemed not fair.

The offer is also not reasonable, considering the offeror intends to maintain MCT's listing status, as well as the liquidity of MCT shares, with an average daily trading volume of 73.77 million for the past 12 months, the circular said.

"Premised on these and the evaluation by Kenanga IB as a whole, Kenanga IB is of the opinion that the offer is not fair and not reasonable. Accordingly, we advise and recommend that the holders reject the offer," the research house added.

At 3.10pm, MCT shares were unchanged at 87.5 sen, with 229,000 shares done, bringing it to a market capitalisation of RM1.17 billion. THEEDGE

Posted by Mark T Bird > 2018-02-05 16:56 | Report Abuse

MPOA urges the government to halt trade deals with EU until ban on palm oil lifted

KUALA LUMPUR: Malaysian Palm Oil Association (MPOA) has urged the government to halt trade deals with the European Union until the latter’s ban on palm oil is lifted.

Chief executive Datuk Nageeb Wahab said EU’s discriminative action against palm oil will harm the livelihoods of more than three million farmers across developing nations.

“The ban would threaten the livelihood of 650,000 smallholders and over 3.2 million Malaysians who rely on the palm oil industry.

“The smallholders account for almost 40 per cent of the total planted area in the country,” he said in a statement.

MPOA concurs with the government that the ban is a discriminatory action taken by the EU, he added.

On January 17, the EU Parliament passed a resolution which requires that only sustainably-produced palm oil can be imported to the EU market after 2020.

It has also voted in favour of an amendment to a draft law on renewable energy that calls for reducing to zero the contribution from biofuels and bioliquids produced from palm oil as of January 2021.

Nageeb said MPOA fully supports Malaysia’s initiative to form an alliance called “Friends of Palm Oil” with eight other palm oil producing countries to champion the industry’s future to the EU.

“The initiative calls for an urgent need to clear many misconceptions by the EU on palm oil where the EU have chosen to ignore many factual information such as Malaysia’s 57 per cent forest cover,” he added. NST

Posted by Mark T Bird > 2018-02-05 17:00 | Report Abuse

Bursa Malaysia 4Q net profit up 10%, pays 18.5 sen dividend

KUALA LUMPUR (Feb 5): Bursa Malaysia Bhd’s net profit for the fourth quarter ended Dec 31, 2017 (4QFY17) rose 10.2% year-on-year (yoy) to RM55.3 million, from RM50.2 million, due to better performance of the securities market.

Its quarterly earnings per share stood at 10.3 sen, compared with 9.4 sen.

In a filing with the local exchange, the bourse showed revenue for 4QFY17 grew 14.1% to RM141.2 million, versus RM123.7 million a year ago.

Bursa Malaysia declared a dividend of 18.5 sen amounting to RM99.5 million for the financial year ended Dec 31, 2017 (FY17), as opposed to 17 sen in 4QFY16.

Net profit for FY17 climbed 15.2% to RM223 million from RM193.6 million from FY16, on the back of revenue that went up 9.9% to RM556.8 million compared to RM506.8 million a year ago.

Total dividend for FY17 was 53.5 sen, in comparison to 34 sen for FY16.

According to Bursa Malaysia, its profit after tax and minority interest (PATAMI) was the highest recorded since 2007, and highest full year operating revenue since its listing in 2005.

Its chief executive officer Datuk Seri Tajuddin Atan said 2017 was one of the strongest years for the local equity market, where it saw a 9.4% growth and 14% rise yoy in market capitalisation.

There was significant increase in retail participation, up 41% yoy, in line with its continued focus to engage and educate via its retail outreach effort and financial literacy programmes, further expanding its retail base.

“We also saw RM10.8 billion net foreign inflow in 2017. Against this backdrop, the exchange delivered a solid performance in FY17, achieved on the back of our highest-ever operating revenue and the outcome of our strategic initiatives implemented over the years,” Tajuddin said in a statement.

Moving forward, he said the bourse will continue to strengthen its proposition as ASEAN’s multinational marketplace with global access.

In FY17, the securities market trading revenue grew 21.9% to RM259.6 million from higher average daily trading value for Securities Market On-Market Trades that rose by 27.7% to RM2.3 billion.

An increase in initial public offerings’ listing fee and new structured warrants listed, and higher processing fees from corporate exercises, contributed to the 7.4% increase in non-trading revenue to RM166.1 million in the year.

In FY17, Bursa Malaysia attracted 13 new listings, raising a total of RM7.4 billion compared with RM600 million in FY16.

Tajuddin said its initiatives have built a strong foundation, enabling it to capitalise on new opportunities.

“In 2017, we launched the Islamic selling and buying negotiated transaction and made a revision in the tick rule to provide market participants with greater price flexibility in performing regulated short selling.

“We will continue to work closely with our intermediaries to improve liquidity and increase trading activities, and expand our marketing efforts to build a strong IPO pipeline,” Tajuddin added.

The local exchange also plans to widen its products and services to create a conducive capital market ecosystem for all market participants.

Meanwhile, the securities market segment is expected to remain resilient, given the recent economic data and equity market performance, ringgit’s strengthening, as well as the expected positive corporate earnings.

Local and external factors such as geopolitical developments and the tightening of monetary policies in major economies in 2018 might influence trading volatilities.

In the derivatives market, volatility in commodity prices and the underlying equity market will continue to affect hedging and trading activities of the FCPO and FKLI contracts.

At 2.30pm, Bursa Malaysia dipped eight sen or 0.73% to RM10.80 with 341,800 shares done, for a market capitalisation of RM5.8 billion. THEEDGE

Posted by Mark T Bird > 2018-02-05 17:02 | Report Abuse

Oil might be behind ringgit’s election charm

SINGAPORE (Feb 5): As FX traders look ahead to Malaysia’s upcoming general election, they might want to look back at past polls for trading cues. In four out of the last five polls going back to 1986, the ringgit has strengthened in the six-month periods leading up to the vote (omitting years when it was pegged to the U.S. dollar).

How might the Malaysian currency trade heading into the general election this year, due by August? If the past is a guide, keep an eye on oil. The price of oil was also rising in the run-up to the polls -- suggesting the ringgit may have been reflecting that strength. Oil constitutes a declining, yet still significant, share of Malaysia’s exports and government revenues. So it’s reasonable to expect the ringgit to appreciate when oil is rising.

Trading in Oil, Ringgit -- Six Months Before Elections

Aside from higher oil prices at the moment, the ringgit has other factors in its favor heading into this year’s general
election:

* The previous multi-year sell-off in the ringgit increases its upside potential.

* Capital inflows are supported by Bank Negara Malaysia’s January rate hike and the prospect of more tightening to come.

* Exports more broadly are supported by sustained momentum in global demand.

Oil Up, Ringgit Up, Same Government Most Times

Malaysia’s economy is less dependent on oil than it has been in the past and the ringgit is more independent. Indeed, the ringgit languished in 2016 -- when oil prices rallied 200%. Even so, it might not hurt the incumbent’s chances this year if oil continues to climb a bit longer. THEEDGE

Posted by Mark T Bird > 2018-02-05 17:20 | Report Abuse

http://www.bursamalaysia.com/misc/system/assets/23537/Directive_on_the_List_of_Approved_Securities_(With_effect_from_5_February_2018).pdf

Posted by Mark T Bird > 2018-02-05 20:46 | Report Abuse

Save your panic. This equity slump isn’t the end of days

HONG KONG: Is it a blip, a correction or the end of days?

Stock markets in Asia tumbled Monday, extending the biggest global selloff in two years. Equity investors are fretting as Treasury yields approach 3%. On Friday, 10-year returns touched 2.85%, and the dollar rallied 0.9%.

Some context, however. While the MSCI Asia ex-Japan Index’s 7.5% return in January was good, it’s not unprecedented. In January 2001, the benchmark soared 12.8%. Also, U.S. government bond yields have been on a steady rise since the start of the year, and that hasn’t stopped Asia from partying.

The key to Asia’s rally is a weak greenback. When investors pumped US$13bil into Chinese stocks last month -- the most in at least two years -- what they expected was not only capital returns, but foreign-exchange gains. No one’s very interested in the Philippines because of the weak peso; as a result, the Southeast Asian nation is home to the region’s worst-performing emerging market this year.

A currency’s strength is dictated by interest rate differentials, in theory at least. And it’s unclear the dollar will get much stronger. Based on the Bloomberg Dollar Spot Index, which determines currency weights according to their relative importance to the U.S. in terms of international trade, one-third of the dollar’s value is dictated by the euro. But five-year bunds finally offered you something last week, after being negative since 2015.

Next in line is the Japanese yen, which dictates 18% of the dollar’s value. There have been plenty of murmurings, from this columnist included, that the Bank of Japan will start stealth tightening, especially in a world of rising U.S. interest rates. After all, Japan’s central bank already owns an unprecedented 45% of the nation’s bond market; how much more entrenched can it get?

Interest rates have been climbing in emerging Asia as well. Malaysia and Pakistan have both embarked on tightening cycles while the Philippines is expected to hike by 50 basis points this year. Interest rates in China and India are also on the up, as Beijing limits credit expansion and Delhi can’t stop spending.

You get my point: Just because U.S. rates are strengthening doesn’t mean the dollar will necessarily follow suit.

In fact, rising U.S. rates and a weak dollar would be an ideal case for emerging Asia. U.S. stocks look expensive: Emerging Asia’s 6.1% earnings yield is more alluring than the S&P 500’s 4.5%. Plus the MSCI China Index is still 25% shy of its record 1993 high.

Don’t think I’m blindly bullish. Last month, I warned of overly optimistic sell-side analysts and said China’s big bank rally was progressing too fast. But unless we see a sustained stronger dollar, this selloff looks more like a blip. - Bloomberg

Read more at https://www.thestar.com.my/business/business-news/2018/02/05/save-your-panic-this-equity-slump-isnt-the-end-of-days/#sSTWgevWVpQM5Oyf.99

Posted by Tessa Joseph > 2018-02-06 08:48 | Report Abuse

wah you so rajin here

Posted by Mark T Bird > 2018-02-06 08:49 | Report Abuse

hey u, ur sapnrg won several contracts :D

Posted by Tessa Joseph > 2018-02-06 08:52 | Report Abuse

oh really? not my fav counter though, bad experience during their ADAM days, hubby still do bussiness with them, I will let him know about that

Posted by Mark T Bird > 2018-02-06 08:53 | Report Abuse

can hibiscus up? ur personal opinion

Posted by Tessa Joseph > 2018-02-06 08:59 | Report Abuse

hmmm I still have mine, those shares I bought long long time ago, a friend in RHB says can go up, what u see now is temporary, I dunno, maybe they know better because the new warrants under them, on the market now, just becareful, if you can't take it, off the PC, go out to the real world make some money :D

Posted by Cik Babe > 2018-02-06 09:09 | Report Abuse

alahai market lagu ini, either awak stay, awak out, tu aje, nak lari kaunter mana pun serupa hehehe KUTPAI THIS NOT A BUY OR SELL CALL wakakakaka

Posted by Mark T Bird > 2018-02-06 09:13 | Report Abuse

what counter u r in?

Posted by Cik Babe > 2018-02-06 09:14 | Report Abuse

ada beli caely kejab dapat la duit kopi sikit, sekarang aku relaks

Posted by Cik Babe > 2018-02-06 09:21 | Report Abuse

aku ada baca online kalau nak jadi trader bukan boleh hari2, kalau hari2 boleh mati hehehe

Posted by Mark T Bird > 2018-02-06 09:24 | Report Abuse

:)

Posted by Mark T Bird > 2018-02-06 11:14 | Report Abuse

Strategist who called stock slump says it will be short-lived

SINGAPORE (Feb 6): Peter Garnry said two weeks ago that global stocks were headed for a correction in the second half of the first quarter. While the head of equity strategy at Saxo Bank didn’t get the timing exactly, his alarm bells on the run-up in equity markets were on point.

Now, Garnry says the declines are likely to be short-lived as US 10-year Treasury yields haven’t reached a worrying level.

“We believe this is a healthy correction in equity markets but also likely short-lived as the higher US 10-year yield is still not in the danger zone,” Garnry said in an e-mail. “That area is more likely in the 3.5-4.0% range.”

The S&P 500 Index fell 6.2% in two days, its biggest such decline since August 2015, after yields on 10-year Treasuries climbed to a four-year high of 2.84% on Friday. Markets across the globe were sucked into the selloff, with the Stoxx 600 Index declining for a six straight day on Monday and the Nikkei 225 Stock Average falling more than 10% from its January high, poised to enter a correction.

Still, Garnry says it’s too early to predict a bear market.

“After the correction, equity investors will likely buy into the inflation story and bid up equities once more, which is a classical late-cycle behavior which we last time saw in 2007,” he said, adding that the decline in global equities could extend to about 7% to 10%. THEEDGE

Posted by Mark T Bird > 2018-02-06 11:17 | Report Abuse

Malaysia and Singapore to set up stock market trading link

KUALA LUMPUR: Malaysia will collaborate with Singapore to establish a market corridor connecting both countries with a trading link between their respective exchanges.


Prime Minister Datuk Seri Najib Tun Razak announced today the initiative as a measure to spur further mutual benefits and harness the economic potential of both countries.


"After discussions between Prime Minister Lee (Hsien Loong) of Singapore and myself, I am glad to say that we have agreed that both markets have reached a sufficient level, sophistication and degree of maturity for us to establish a market corridor connecting Malaysia and Singapore," Najib said.


"This 'Malaysia-Singapore Connect' will provide investors on both sides of the causeway with easier and seamless access to each other's markets with a combined market capitalisation of more than US$1.2 trillion and 1,600 public listed companies," he added.



"This exciting initiative will indeed widen investment options for investors and contribute towards greater activity and vibrancy in both market," he said.


Read more at https://www.thestar.com.my/business/business-news/2018/02/06/malaysia-and-singapore-to-set-up-stock-market-trading-link/#4UeoGYUc1iyZD1OF.99

Posted by Mark T Bird > 2018-02-06 15:44 | Report Abuse

Buy now or stay clear? Here's what analysts are saying about the US sell-off

(Feb 6): Asian markets took a tumble following the nearly 1,200-point plunge on the Dow Jones industrial average on Monday, but some market watchers said the moves were just a pullback — not a cause for greater concern.

There was no obvious single reason behind the Dow's Monday declines, which took the 30-stock index below the 25,000 mark, although those falls came on the back of jitters over rising interest rates on Friday. Those declines extended into the Asian trading session, with major indexes recording significant losses on the day.

Still, some investors were optimistic that recent declines would resemble a short-lived correction.

"This was clearly a stock market phenomenon, that has become disconnected from the economy and the macro-environment," Jeffrey Kleintop, chief global investment strategist at Charles Schwab told CNBC's "Squawk Box" on Tuesday.

"What we know so far is that clearly, in the volatility markets, there's been a disconnect, there was an imbalance of orders and that seems to have led to this spiraling down of markets. That doesn't mean it's over yet, but these things do tend to correct themselves fairly quickly," he said, adding that recent declines were "just going" to be a pullback.

Suresh Tantia, an investment strategist at Credit Suisse, said the sell-off overnight stateside was driven by algorithms and program selling, highlighting how economic data has remained strong.

"In the next few days, we could see a bit more selling, but this would be a great buying opportunity because nothing has changed fundamentally," Tantia added.

Others sounded more prudent, warning of volatility ahead.

"I actually think there's still too much complacency," Tim Seymour, CIO of Triogem Asset Management, told CNBC's "Squawk Box."

"I think that there's a lot of people that think 'I can buy this dip and everything's going to be fine' and certainly for their sake, I hope it will be. I do think that we have some choppiness before we can put in that bounce," he added. THEEDGE

Posted by Mark T Bird > 2018-02-06 15:47 | Report Abuse

Wahid: Market growth to continue despite sell-off
Read more at https://www.thestar.com.my/business/business-news/2018/02/06/wahid-market-growth-to-continue-despite-sell-off/#Ek1Cg6zqwT6D0P3L.99

Bursa welcomes stamp duty exemption, trading to resume
Read more at https://www.thestar.com.my/business/business-news/2018/02/06/trading-in-bursa-malaysia-shares-suspended-on-tuesday/#1bzRmHBBUxItgY8t.99

Posted by Mark T Bird > 2018-02-06 15:49 | Report Abuse

Bursa welcomes stamp duty exemption, trading to resume

KUALA LUMPUR: Bursa Malaysia has welcomed the government's decision to exempt stamp duty on shares of mid and small cap companies, which will take effect in March 2018.

Its chief executive officer, Datuk Seri Tajuddin Atan said on Tuesday the move, which is for three years, was a recognition of the importance of this market segment.

“This will further boost our current initiatives such as Mid and Small Cap (MidS) Research Scheme and the Leading Entrepreneur Accelerator Platform (LEAP) Market,” he added.

Meanwhile, trading in the stock exchange operator, which was suspended in the morning session on Tuesday, will resume at 2.30pm.

image: https://content.aimatch.com/default.gif

Prime Minister Datuk Seri Najib Tun Razak had on Tuesday announced a raft of initiatives would be taken to stimulate vibrancy of the local bourse.

In his keynote address at the World Capital Market Symposium 2018, Najib said the waiver of the stamp duty was to enhance better value recognition and vibrancy in this segment of the stock market, as well as to encourage greater investor participation.

After extensive discussions with the Securities Commission, Najib said several measures would also be implemented to enhance the local stock market.

Tajuddin said these measures would strengthen its long-standing efforts aimed towards increasing the depth and breadth of the capital market.

“Furthermore, these liberalisations as well as incentives granted will enhance the vibrancy and liquidity of our market,” he said.

Tajuddin also welcomed the proposed establishment of a stock market trading link between Bursa Malaysia and Singapore Exchange (SGX).

Najib announced the trading link would allow investors to trade and settle shares listed on each other’s stock market in a more convenient and cost efficient manner.

“Bursa Malaysia is committed in our pursuit to strengthen our proposition as Asean’s multinational marketplace with global connectivity and the stock market trading link between Bursa Malaysia and SGX announced by the Prime Minister earlier could potentially be a step towards this goal,” he said.

The Exchange will work with SGX, the industry and the relevant regulatory bodies in operationalising this cross-border initiative.
Read more at https://www.thestar.com.my/business/business-news/2018/02/06/trading-in-bursa-malaysia-shares-suspended-on-tuesday/#1bzRmHBBUxItgY8t.99

Posted by Tessa Joseph > 2018-02-06 15:59 | Report Abuse

PM says intraday short selling will be allowed to all investors

Posted by Mark T Bird > 2018-02-06 16:00 | Report Abuse

No need new acc?

Posted by Tessa Joseph > 2018-02-06 16:05 | Report Abuse

I dunno, news from dealer friend, its kindda sketchy.

Posted by Mark T Bird > 2018-02-06 16:44 | Report Abuse

keep me posted :)

Posted by Mark T Bird > 2018-02-06 18:41 | Report Abuse

Investors take advantage of choppy markets

HONG KONG (Feb 6): Investors chased opportunities to buy on dips during a volatile session that tracked a sell-off in Asian equities and large declines on Wall Street.

The Asia ex-Japan investment-grade CDS index settled down to 71bp/72bp by the end of the Asia trading day, from 64bp/65bp yesterday, while the Nikkei and ASX 200 closed down 4.7% and 3.2% respectively.

BOC Aviation's 3.5% 2023 were up a third of a point to 99.6/99.83, while Tencent's 3.925% January 2038s jumped half a point to a cash price of 96.5/97.1, recouping part of a two-point loss since Thursday.

Sunny Optical's 3.75% 2023s were a third of a point higher at 99.5/99.8, according to Tradeweb.

Kasikornbank pared morning losses and was trading four-tenths of a point higher in the afternoon at 98.9/99.2, according to Tradeweb.

"It's still a very choppy session," said a Singapore-based credit trader.

The Asia ex-Japan investment-grade CDS index has widened to its weakest point so far this year, with spreads blowing out to as much as 74.5bp on a bid this morning, according to Thomson Reuters data, driven by a 7bp spike in CDS spreads from Malaysia, Indonesia and the Philippines.

Chinese high-yield property names such as Country Garden's recent 4.75% 2023s were unchanged but Hankook Tire's 3.5% 2023s were two-tenths of a point lower at 99.3/99.6, according to Tradeweb.

THEEDGE

Posted by Mark T Bird > 2018-02-06 18:46 | Report Abuse

FBM KLCI slumps 40 points as sell-off continues

KUALA LUMPUR (Feb 6): The FBM KLCI fell 40.62 points or 2.2% to 1,812.45 today, as the frenzied sell-off prompted by the US stock plunge extended to a second day.

Across Bursa Malaysia, a total of 5.21 billion shares worth RM5.32 billion changed hands with declining issues sharply outnumbering advancers by 1,215 to 121, with another 198 counters closing unchanged.

The KLCI opened the day at 1,814.43, before dropping to a low of 1,795.85 in morning trade — a level not seen since the benchmark index breached the 1,800 point level at the beginning of this year.

At market close, a total of RM42.26 billion had been wiped off Bursa Malaysia-listed companies' market capitalisation.

Oil and gas-related stocks Sumatec Resources Bhd, UMW Oil & Gas Corp Bhd and Hibiscus Petroleum Bhd were the most actively traded counters, all of which ended in negative territory.

Consumer stocks were the biggest losers of the day, with Nestle (M) Bhd closing 1.97% or RM2.30 lower at RM114.30, followed by British American Tobacco (M) Bhd, down by 3.96% or RM1.32 at RM32.

Gainers, meanwhile, were mostly index-linked put warrants as investors bought in as a hedge against broader market losses.

AmBank Retail Research vice president Lim Sae Wai told theedgemarkets.com that despite the frenzied stock sell-off, the FBM KLCI is not oversold yet. However, the recovery in the benchmark index ahead of market close is too early to be considered a sign of stability.

“The glass is half full and half empty now, but it is not a major crisis. The only thing that concerns me is the volatility, as the market can be less rational than normal,” said Lim.

Lim said the massive correction in the US market is still considered healthy, despite the alarming quantum of fall in the Dow Jones Industrial Average since last Friday.

“On the local front, we have the global impact to equity since there is not much news flow. As such the external market’s influence will lead the sentiment,” he added.

Investors looking to buy in but are worried if they are catching a falling knife are advised to be selective and gradually accumulate fundamentally stable stocks that have retraced.

“It is pretty difficult to time the bottom, but the right strategy now is to be selective. It would be wise to gradually accumulate now as the rebound will come just as quickly,” said Lim.

The Cboe Volatility Index (VIX), the most widely followed barometer of expected near-term stock market volatility, more than doubled to its highest level in 2.5 years. THEEDGE

Posted by Cik Babe > 2018-02-06 22:13 | Report Abuse

terima kaseh Mark, kutnaik and kutpai

Posted by Cik Babe > 2018-02-07 10:14 | Report Abuse

Mark awak ada UCREST?

Posted by Mark T Bird > 2018-02-07 10:16 | Report Abuse

yes, bought before the market down

Posted by Cik Babe > 2018-02-07 10:23 | Report Abuse

patut la awak kata tak cukup topup bunga raya

Posted by Mark T Bird > 2018-02-07 10:24 | Report Abuse

Hibiscus top up a bit this morning

Posted by Cik Babe > 2018-02-07 10:49 | Report Abuse

aku nanya tessa apa plantation stock dia tengok, dia kata JTIASA, watching only

Posted by Mark T Bird > 2018-02-07 10:51 | Report Abuse

LOL I thought kretam LOL

Posted by Cik Babe > 2018-02-07 10:57 | Report Abuse

anak aku beli matang, tak tahan, jual rugi

Posted by Mark T Bird > 2018-02-07 11:02 | Report Abuse

woah 10sen counter no volume

Posted by Mark T Bird > 2018-02-07 11:07 | Report Abuse

Malaysian palm oil/Vegoils: Market factors to watch Wednesday Feb 7

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 7.

FUNDAMENTALS

* Malaysian palm oil futures declined on Tuesday, and have now fallen in three of the past four days, tracking losses in global financial markets and as traders booked profits.

* U.S. soybean futures rose 1.7 percent on Tuesday on worries about dry weather hurting crop prospects in Argentina, despite rains expected in the coming days, analysts said.

* Oil fell for a third day on Tuesday as the U.S. dollar rose to its highest in more than a week in the wake of a sharp sell-off early this week on Wall Street and other stock markets.

MARKET NEWS

China supersizes pig farms to cut costs in world's top pork market

ADM weighs options to counter U.S. tax rule, hopes for quick action

EXCLUSIVE-CME mulls changes to soy, corn contracts -customers

BP profits surge as oil major leaves downturn behind

DATA/EVENTS

Cargo surveyor ITS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.

Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 10. - Reuters


Read more at https://www.thestar.com.my/business/business-news/2018/02/07/palm-oil-market-factors-to-watch-feb-7/#bHxaHIgk0byAGzft.99

Posted by Mark T Bird > 2018-02-07 11:09 | Report Abuse

Trading ideas: Hartalega, F&N, Talam, Sunway REIT, Eita, Pasukhas
Read more at https://www.thestar.com.my/business/business-news/2018/02/07/trading-ideas-hartalega-fn-talam-sunway-reit-eita-pasukhas/#iJvm8rFIS3uvELhi.99

Posted by Mark T Bird > 2018-02-07 11:52 | Report Abuse

Market bounces back, regains half of Tuesday’s losses, Public Bank up

KUALA LUMPUR: Investors heaved a sigh of relief early Wednesday after the rebound on Wall Street gave them some assurance the heavy selling could be behind, as at Bursa Malaysia, blue chips regain more than half of their losses.

At 9.12am, the FBM KLCI was up 24.01 points or 1.32% to 1,836.46. Turnover was 395.26 million shares valued at RM216.21mil. Gainers overwhelmed losers 601 to 45 while 141 counters were unchanged.

Maybank Investment Bank Research says following the strong rebound in overnight US markets, it expects bargain hunting activities on Wednesday, particularly on those key blue chips which were heavily sold down the past few days.

“Technically, we expect FBMKLCI to trade between 1,800 and 1,840 today. Downside supports are 1,796 and 1,771,” it said.

Reuters reported in early trade, MSCI's broadest index of Asia-Pacific shares outside Japan had crept up 0.5%, recouping some of Tuesday's 3.5% fall. That had been its biggest daily drop since August 2015.

Australia's main index rallied 1.1% and Japan's Nikkei rose 2.9%. The latter slid 4.73% on Tuesday for its steepest fall in 15 months.

Markets took their cue from a late rebound on Wall Street, though investors were warily eyeing E-Mini futures for the S&P 500 which were off 0.2% in Asian trading.

Public Bank advanced 44 sen to RM21.92 and Hong Leong Bank 42 sen higher at RM18.36.

Nestle rose 80 sen to RM115.10 and BAT 56 sen higher at RM32.56.

Petronas Gas added 48 sen to RM17.60, Petron and Hengyuan 38 sen each to RM11.60 and RM13.34.

Among the glove makers, Hartalega rose 46 sen to RM11.30 and Top Glove 43 sen to RM9.13.

Read more at https://www.thestar.com.my/business/business-news/2018/02/07/market-bounces-back-regains-half-of-tuesday-losses-public-bank-up/#wVlbXsl16BDfzurQ.99

Posted by Mark T Bird > 2018-02-07 18:38 | Report Abuse

Mudajaya files suit against ex-staff for breach of trust
Read more at https://www.thestar.com.my/business/business-news/2018/02/07/mudajaya-files-suit-against-ex-staff-for-breach-of-trust/#UsJKEWRTjk2oUpl6.99

Posted by Mark T Bird > 2018-02-07 18:39 | Report Abuse

Hong Kong stocks end at five-week low led by property shares

HONG KONG: Hong Kong stocks reversed earlier gains and closed at a five-week low on Wednesday, led lower by material and real estate firms, which tracked their peers on the mainland market.

At close of trade, the Hang Seng index was down 272.22 points or 0.89% at 30,323.20. The Hang Seng China Enterprises index fell 2% to 12,433.29.

The sub-index of the Hang Seng tracking energy shares dipped 1.1% while the IT sector rose 0.93%, the financial sector was 1.11% lower and property sector dipped 2.22%.

The top gainer on Hang Seng was Hengan International Group Company Ltd up 2.03%, while the biggest loser was China Resources Land Ltd which was down 7.67%.

China’s main Shanghai Composite index closed down 1.81% at 3,309.5844 points while its blue-chip CSI300 index ended down 2.38%.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.15% while Japan’s Nikkei index closed up 0.16%.

The yuan was quoted at 6.2602 per U.S. dollar at 08:09 GMT, 0.33% firmer than the previous close of 6.281.

As of the previous trading session, the Hang Seng index was up 2.26% this year, while China’s H-share index was up 8.3%. As of the previous close, the Hang Seng has declined 6.97% this month.

The top gainers among H-shares were Byd Co Ltd up 0.22%, followed by Huaneng Power International Inc gaining 0.4% and CGN Power Co Ltd up by -0.48%.

The three biggest H-shares percentage decliners were China Citic Bank Corp Ltd which was down 5.45%, China Merchants Bank Co Ltd which fell 5.3% and China Vanke Co Ltd down by 4.4%.

About 4.76 billion Hang Seng index shares were traded, roughly 165.6% of the market’s 30-day moving average of 2.88 billion shares a day. The volume traded in the previous trading session was 5.70 billion.

At close, China’s A-shares were trading at a premium of 36.47% over the Hong Kong-listed H-shares.

The price-to-earnings ratio of the Hang Seng index was 13.94 as of the last full trading day while the dividend yield was 2.9%.

So far this week, the market capitalisation of the Hang Seng index has fallen by 6.44% to HK$20.01 trillion.

The short and one-factor leveraged Hang Seng index, which is designed to replicate the payoff of a short or leveraged portfolio and is linked to the movements of the Hang Seng Index, was higher by 0.89% on the day at 4,846.69 points. - Reuters
Read more at https://www.thestar.com.my/business/business-news/2018/02/07/hong-kong-stocks-end-at-five-week-low-led-by-property-shares/#4W9HLOKlXoiysxtB.99

Posted by Mark T Bird > 2018-02-07 18:43 | Report Abuse

Benalec turns down Spring Gallery's land offer sale in Melaka

Benalec Holding Bhd has rejected an offer from Spring Gallery Bhd's unit Million Rich Development Sdn Bhd involving the purchase of 12 plots of land in Melaka.

Benalec, which is involved in land reclamation, said on Wedneday it had received three letters of offer from Spring Gallery's unit Million Rich Development Sdn Bhd to purchase the plots of land.

“The management is of the view that the offer is not in the best interest of the company and therefore have decided not to accept the said offer,” it said.
Read more at https://www.thestar.com.my/business/business-news/2018/02/07/benalec-turns-down-spring-gallery-land-offer-sale-in-melaka/#Zb1UpybA8AuDRYPE.99

Posted by Tessa Joseph > 2018-02-07 21:47 | Report Abuse

This company formerly under Datuk Abu Talib Mohammed, the brother of Maju Holdings Sdn Bhd's shareholder Tan Sri Abu Sahid Mohammed, if I'm not mistaken

Posted by Tessa Joseph > 2018-02-07 21:53 | Report Abuse

hubby's opinion this kind of company buat buat then minta tanah free from the government hmmmm

Posted by Mark T Bird > 2018-02-07 21:59 | Report Abuse

ouch

Posted by Mark T Bird > 2018-02-08 18:24 | Report Abuse

Malaysia imposes anti-dumping duties on cold-rolled stainless steel

KUALA LUMPUR (Feb 8): The government has concluded the anti-dumping investigation concerning imports of cold-rolled stainless steel (CRSS) and decided to impose the final affirmative anti-dumping duties, effective for five years, from today to Feb 7, 2023.

In a statement today, the Ministry of International Trade and Industry (MITI) said the Royal Malaysian Customs Department would enforce the collection of anti-dumping duties from imports from China, South Korea, Chinese Taipei and Thailand.

It said under China, the duties for Shanxi Taigang Stainless Steel Co Ltd would be 2.68 per cent; and, others, 23.95 per cent.

For South Korea, Hyundai BNG Steel Co Ltd and Hyundai Steel Co there would be no duties; POSCO would pay 4.44 per cent and others, 7.27 per cent.

For Chinese Taipei, Chia Far Industrial Factory Co Ltd and Yieh United Steel Corp would not have to pay the duties; Tang Eng Iron Works Co Ltd 7.78 per cent; Walsin Lihwa Corp 2.79 per cent; and, others 14.02 per cent.

For Thailand, POSCO-Thainox has to pay 22.86 per cent; and, others 111.61 per cent.

MITI said the investigation was initiated in accordance with the Countervailing and Anti-Dumping Duties Act 1993 and Countervailing and Anti-Dumping Duties Regulation 1994 on May 15, 2017 based on a petition filed by Bahru Stainless Sdn Bhd (petitioner) on behalf of the domestic industry producing CRSS.

“The petitioner alleged that imports of CRSS from the alleged countries are being dumped into Malaysia at a price much lower than their domestic prices, causing material injury to the domestic industry in Malaysia.

“With the imposition of anti-dumping duties on imports of CRSS from the alleged countries, it is expected that the issue of unfair trade practices will be addressed,” it said.

MITI said interested parties (importers, foreign producers/exporters and associations related to the investigation) could have access to the non-confidential version of the public report on the final determination by submitting a written request to:

Director,

Trade Practices Section,

Ministry of International Trade and Industry,

Level 9, Menara MITI,

No 7, Jalan Sultan Haji Ahmad Shah,

50480, Kuala Lumpur, MALAYSIA

-0- Feb/07/2018 16:01 GMT

THEEDGE