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Lunch Break Review – 30th Jan 2019

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BURSA MALAYSIA (WED, 30 JAN 2019)

MID-DAY LUNCH BREAK REVIEW

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BRIEF MARKET REVIEW:

The FBM KLCI stayed in negative zone at midday today as local sentiment appeared to be lacklustre ahead of the extended weekend with the holiday on Friday as well as the Lunar New Year next week, which would see many traders taking a break. At 12.30pm, the FBM KLCI dipped 1.1 points to 1,689.31. Losers led gainers by 314 to 280, while 339 counters traded unchanged. Volume was 955.93 million shares valued at RM685.02 million.

Stocks in Asia were mixed in Wednesday afternoon trade, as investors await the start of U.S.-China trade talks later in the day stateside. Mainland Chinese markets recovered by the end of the morning session following declines earlier. The Shanghai composite was slightly higher while the Shenzhen component rose 0.231 percent. The Shenzhen composite also saw marginal gains.

Investors are watching out for developments on the U.S.-China trade front, with high level negotiations set to begin later stateside. Chinese Vice Premier Liu He is set to meet U.S. officials on Wednesday and Thursday, hot on the heels of Washington levelling sweeping charges against Beijing’s telecommunications giant Huawei. Market participants fear the jolt to Huawei could undermine the chances of the world’s two largest economies reaching a comprehensive trade deal.

 

STOCKS IN THE LIMELIGHT:

YTL CORPORATION BHD (RM1.15, +0.00%)

YTL Corp Bhd has bought The Westin Perth for over A$200 million (RM591 million), one of the biggest hotel sales in the West Australian capital, according to the Australian Financial Review (AFR). In a report today, AFR said Perth-based developer and construction group BGC, founded by the late Len Buckeridge, confirmed it had sold the hotel to two subsidiaries within YTL’s hotel division, the Starhill Hotel (Perth) and Starhill Hotel Operator (Perth), on Tuesday. BGC had developed the five-star Westin hotel, a 368-room luxury hotel in the east side of the Perth central business district with 28 furnished suites, the signature restaurant in ‘Garum’ by celebrated chef Guy Grossi, and 1,700sq m of conference and meeting space.

The stock closed mid-day at RM1.15, with a low volume of 304,800 shares traded.

 

CAPITALAND MALAYSIA MALL TRUST (RM1.08, 1.89%)

After reporting lower 2018 earnings, CapitaLand Malaysia Mall Trust (CMMT) is banking on Sungei Wang Plaza’s new five-storey annexe block to boost rental contribution this year. Low Peck Chen, chief executive officer of CMMT’s manager CapitaLand Malaysia Mall REIT Management Sdn Bhd, told a press briefing that “numbers should be better this year” as the block — branded as ‘Jumpa’ — opens its doors to shoppers in early June. She added that about 30% of the tenants have been secured so far. This includes climbing gym Camp5 Plus as its “mini-anchor” as well as other food and beverage, fashion accessory tenants. CMMT also expects the continued strong performance of Gurney Plaza in Georgetown and East Coast Mall in Kuantan to help boost its earnings for the current year ending Dec 31, 2019 (FY19).

CMMT closed at RM1.08 at mid-day on a high volume of 793,900 shares traded.

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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)

The Quantitative Trading and Analytics Division houses the elite data scientists, programmers and proprietary traders that work the proprietary algorithm trading desk of Malacca Securities. Join and network with us at our elite mPower Algorithm program, mPower Trading program and Elite Education courses.

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