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Lunch Break Review – 5th Nov 2018

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BURSA MALAYSIA (Mon, 5 Nov 2018)

MID-DAY LUNCH BREAK REVIEW

 

FBMKLCI: 1706.37 (-7.50/-0.44%)

Vol: 1.38bn; Val: RM1.956bn

Gainers: 236, Losers: 547, Unchanged: 239

 

Major KLCI Gainers: PETDAGANG (+5.1%), MISC (+2.5%), PCHEM (+2.3%)

Major KLCI Losers: GENM (-19.3%), AIRPORT (-7.8%), GENTING (-3.5%)

 

TOP SECTOR: HEALTHCARE +1.1% led by gains in IHH (UNCHANGED)

 

BRIEF MARKET REVIEW:

The KLCI fell at mid-day post-Budget 2019 bruised by selling in casino players, Genting Malaysia and Genting and Malaysia Airport. Both the former was affected by tax and levy increase in Budget 2019 while the latter was sold down due to worries over the government’s airport REIT plan.

Asia Pacific markets traded down on Monday as well as investors remained cautious over global growth prospects while Chinese President Xi Jinping tried to tout China as a globalization champion in a major speech.

 

STOCKS ON THE MOVE:

 

GENTING MALAYSIA (RM3.65, -19.3%%)

The stock fell as low as RM2.18 after a number of analysts downgraded the stock on the rise in the casino tax and levy in Budget 2019. Volume was heavy with 322m shares traded at mid-day.

 

MALAYSIA AIRPORT (RM7.60, -7.8%)

The airport operator was sold down due to worries over the government’s airport REIT plan. 4.6m shares was traded at the mid-day break.

 

REGIONAL MAJOR MARKETS:

NIKKEI                 21,898   (-1.55%)
SHANGHAI          2,661     (-0.57%)
HANG SENG       25,932    (-2.09%)
ASX                       5,818     (-0.53%)

MAJOR COMMODITY:

WTI: 62.8 (-0.51%)
CPO FUTURES:  RM2005/tonne (+20.0)
GOLD: 1233.4 (+0.01%)

MAJOR CURRENCY
USD/MYR: 4.1722 (+0.32%)
USD INDEX:  96.4 (+0.07%)

 

Prepared by:

Malacca Securities Quantitative Trading and Analytics Division

BO1-A-13A, Level 13A, Menara 2,

No.3, Jalan Bangsar, KL Eco City,

59200 Kuala Lumpur

TEL: 03-2201 2100 (General)

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