Posted on

Lunch Break Review – 7th Nov 2018

logo

BURSA MALAYSIA (7 Nov 2018)

MID-DAY LUNCH BREAK REVIEW

FBMKLCI: 1711.94 (+3.14/0.18%)

Vol: 1.46bn; Val: RM1.3bn

Gainers: 374, Losers: 318, Unchanged: 317

Major KLCI Gainers: SIME (+5.44%), AIRPORT (+3.15%), AXIATA (+1.44%)

Major KLCI Losers: TM (-1.66%), MAYBANK (-1.60%), HARTA (-0.31%)

TOP SECTOR: ENERGY +1.29% led by gains in SCOMI (+9.09%), SAPNRG (+7.04%), BARAKAH (+6.67%)

BRIEF MARKET REVIEW:

The FBM KLCI rose 3.14 points or 0.18% to settle at 1,711.94 as results of the US midterm elections dictated world market sentiment. Asia markets turned mostly positive Wednesday morning as results filtered in from the much-anticipated midterm elections in the U.S., which could potentially have significant implications. Japan’s Nikkei 225 gained 1.15 percent while the Topix index added 1.06 percent. In South Korea, the Kospi traded up 0.65 percent, reversing early losses. Australia’s ASX 200 rose 0.25 percent, as major banking stocks in the country traded up. In Hong Kong, the Hang Seng Index traded fractionally higher. The Shanghai composite traded near flat while the Shenzhen composite added 0.33 percent. Reuters reported that Democrats rode a wave of dissatisfaction with President Donald Trump to win control of the US House of Representatives on Tuesday, giving Democrats the opportunity to block Trump’s agenda and open his administration to intense scrutiny.

STOCKS ON THE MOVE:

SAPNRG (RM0.38, +7.04%)

The stock rose on high volume with around 225.2m shares transacted mid-day compared to its 5-day average traded volume daily of 67.0m. This could be mainly due to the company’s proposed Right Issue price of RM0.30 on the basis of 5 right shares for every 3 Sapura Energy Berhad’s shares and 1 free warrant for every 10 right shares subscribed that was announced on 6 Nov 2018. The stock is tracked by analysts with a consensus fair value of RM0.55. Please refer to the mPower Algorithm and mPower Trading reports for more details.

 

GENM (RM3.66, +1.39%)

The stock continued to trade on high volume with around 59.4m shares transacted mid-day compared to its 5-day average traded volume daily of 82.0m after the Finance Minister, Lim Guan Eng said the country will raise the annual casino licence fee from RM120 million to RM150 million during Malaysia’s Budget 2019. The stock is tracked by analysts with a recent consensus fair value of RM5.93 but many analysts have cut their fair value for the stock after the Budget announcement.  Please refer to the mPower Algorithm and mPower Trading reports for more details.

 

REGIONAL MAJOR MARKETS:

NIKKEI                 22,087   (-0.10%)
SHANGHAI          2,645     (-0.52%)
HANG SENG       26,056    (-0.25%)
ASX                       5,897     (+0.37%)

MAJOR COMMODITY:

WTI: 61.87 (-0.55%)
CPO FUTURES:  1975.00
GOLD: 1230.40 (+0.33%)

MAJOR CURRENCY

USD/MYR: 4.169 (-0.19%)
USD INDEX:  95.89 (-0.15%)

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)

signature