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Lunch Break Review – 16th Nov 2018

 

BURSA MALAYSIA (FRI, 16 NOV 2018)

MID-DAY LUNCH BREAK REVIEW

 

 

 

 

BRIEF MARKET REVIEW:

The FBM KLCI added 0.68% at midday break today to remain firmly above the 1,700-point level, although it pared some gains, tracking regional markets.

Asia markets traded cautiously on Friday morning on the back of fresh uncertainties emerging from the U.K. overnight after multiple important ministers resigned from Prime Minister Theresa May’s government, including Brexit Secretary Dominic Raab, who said he couldn’t accept the deal after the promises the ruling Conservative Party made to the country in an election manifesto last year. The British pound plunged to $1.2833 from about $1.2994 at around 9:00 a.m. London time on Thursday, following news of Raab’s resignation. The pound traded at about $1.2783 Friday morning during Asian hours.

The mainland Chinese markets, which have been closely watched amid the ongoing trade spat between Washington and Beijing, had a muted performance in early trade. The Shanghai composite was down 0.32 percent and the Shenzhen composite fell 0.28 percent.

 

STOCKS IN THE LIMELIGHT:

 

UNISEM (RM3.20, +3.9%)

Shares in UNISEM rose as much as RM3.21 mid-day after all the pre-conditions for the proposed conditional voluntary takeover offer of Unisem had been met. Yesterday, Unisem said its board will soon appoint an independent adviser to advise the directors and shareholders on the fairness and reasonableness of the offer. Unisem said it received notice from Maybank Investment Bank Bhd on behalf of the offerors that the pre-conditions including relevant approvals from overseas regulatory authorities had been obtained. UNISEM traded at a high volume of near to 8.9m shares at mid-day.

 

TUNE PROTECT GROUP (RM0.65, -10.96%)

Shares in TUNEPRO fall as low as RM0.65 mid-day after its net profit fell 28.3% to RM9.13m in the third quarter ended Sept 30, 2018 (3QFY18) from RM12.73m a year ago, on lower net earned premiums of RM9.2m, increased management expenses of RM7.6m mainly due to higher employee, marketing and other administrative costs, and a decrease in net claims incurred of RM10.1m. TUNEPRO traded at a high volume of 8.6m shares at mid-day.

 

 

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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Lunch Break Review – 2nd Nov 2018

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BURSA MALAYSIA (2nd Nov 2018)

MID-DAY LUNCH BREAK REVIEW

 

FBMKLCI: 1706.93 (+0.01/0.00%)

Vol: 1.61bn; Val: RM860.68mn

Gainers: 510, Losers: 228, Unchanged: 299

 

Major KLCI Gainers: GENTING (+1.08%), SIME (+0.88%), DIGI (+0.47%)

Major KLCI Losers: IHH (-1.20%), AXIATA (-1.16%), MISC (-0.45%)

 

TOP SECTOR: CONSTRUCTION +1.20% led by gains in IKHMAS (+9.68%), GKENT (+6.31%), MITRA (+6.06%)

 

BRIEF MARKET REVIEW:

The FBM KLCI pared some of its gains at mid-morning today, and stayed above the 1,700-point level ahead of the tabling of Budget 2019. Meanwhile, stocks in Asia were mainly higher on Friday afternoon on the back of Wall Street gains and comments from U.S. President Donald Trump indicating potential progress in his trade negotiations with China.

 

STOCKS ON THE MOVE:

PRESTARIANG (RM0.72, +21.01%)

The stock rose on high volume with around 75.0m shares transacted mid-day compared to its 5-day average traded volume daily of 48.0m. The stock is tracked by analysts with a consensus fair value of RM1.59. Please refer to the mPower Algorithm report for more details.

AIRASIA X (RM0.26, +13.04%)

The stock rose on high volume with around 69.0m shares transacted mid-day compared to its 5-day average traded volume daily of 7.5m after it appointed Thai national Nadda Buranasiri, 56, as group CEO of the carrier. The stock is tracked by analysts with a consensus fair value of RM0.38. Please refer to the mPower Algorithm report today for more details.

 

REGIONAL MAJOR MARKETS:

NIKKEI                 21,815   (+0.59%)
SHANGHAI          2,638     (+1.21%)
HANG SENG       26026    (+2.40%)
ASX                       5,815     (-0.45%)

MAJOR COMMODITY:

WTI: 63.42 (-0.42%)
CPO FUTURES:  1942.00
GOLD: 1233.50 (-0.41%)

MAJOR CURRENCY
USD/MYR: 4.1728 (-0.12%)
USD INDEX:  96.34 (+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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