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Thursday 23 November 2017
Thursday 16 November 2017
Friday 10 November 2017
Steady increase in steel prices projects. Building materials industry look pretty
The restructuring and cut-off of domestic and foreign companies has prompted steel prices to remain strong and stable. Coupled with the steady growth of major domestic projects, the overall outlook for the construction materials industry is good. The performance in the third and fourth quarters of this year is expected to be delivered to good news.
According to data from the Department of Trade and Industry, local steel prices decreased by 7.2% in October to MYR2,452 / tonne, which was lower than the record high of MYR2,642 recorded in September. Futher prices also dropped 4.4% to 2258t./mt Ringgit.
However, steel bars and steel billets soared 32.5% and 44.5% respectively over the previous year.
In contrast, the prices of Chinese steel bars and HRC coil dropped by 2.4% and 1% respectively in October due to a decrease in demand for winter construction, with RMB4,182 and RMB4,134 for each metric tonne reported.
Iron and steel industry restructuring at home and abroad to
promote steel prices
promote steel prices
UOB Kay Hian studies believe that although the steel price slightly callback, but still at a high level, thanks to continued restructuring of the steel industry at home and abroad.
"After a six-month period of steady increase in steel output in China, the number of steel mills dropped by 3.7% YoY to 71.8m tonnes in September, the Chinese government said at the Ninth Congress that it will reach the target of 50m tonnes of steel output to be reduced in the full year by August."
In addition, starting October 12, the Malaysian government will impose a 7.3 to 111.6% import tax on cold-rolled stainless steel in China, South Korea, Taiwan and Thailand, which is also good news for domestic steel companies.
As the price of steel dropped, the prices of raw materials and fuels also plunged last month, helping steel companies reduce costs. On a monthly basis, scrap fell 9.2% to US $ 330 / mt. Iron ore slipped 6% to US $ 71.5 / unit. Coal also dropped 11.3% to US $ 181.60 / mt.
UOB Kay Hian said that given the average selling price of steel products rose 16.4% quarter-to-quarter to RM2,417 / tonne, the performance of the steel mills in the third quarter is expected to be marked as green. As the demand rises, the performance of the steel mills in the fourth quarter is even more exciting .
The bank continued to be optimistic about the outlook for the construction materials industry and maintained its "overweight" rating. The bank advises investors to pay attention to the steelmakers actively promoting their capital management activities and think the valuation of these companies may increase.
Preferred stocks:
Anyu resources poly steel plant
Anyu resources poly steel plant
The bank's preferred building materials stocks include Anju Resources (ANNJOO, 6556, Mainboard Industrial Products Group) and Polymetal Steel Works (CHOOBEE, 5797, Mainboard Industrial Products Group).
CSC Steel (CSCSTEL, 5094, Mainboard Industrial Products Group) outperformed the broad band of building materials stocks after declining 3.3% in July, compared with an average increase of 16% for the building materials stocks tracked by the bank over the same period.
Closed today, CSC Steel and Poly Steel fell 2 sen and 1 cents respectively to settle at RM1.72 and RM2 at 39 sen. An Yu Resources added 3 sen to RM3 at 91 sen.
Source: http://www.klsescreener.com/
Wednesday 8 November 2017
Palm oil + the Malaysian economy
This article first appeared in The Edge Malaysia Weekly, on November 6, 2017 - November 12, 2017.
Source http://www.theedgemarkets.com
Wednesday 1 November 2017
Malaysia: Shares close lower on Wednesday
MALAYSIA share prices closed lower on wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 3.99 point to 1743.93.Volume was 2.294billion.
Gainers narrowly outnumbered losers 504 to 368.
Top Gainer were DIN045801028 [S], PMBTECH [S], 8443WB, PMETAL [S], TGUAN-LA, PANAMY, SUIWAH [S], TIMECOM [S], PETDAG [S], MISC [S].
Top Looser were BAT, NESTLE [S], PERSTIM [S], AJI [S], EKOVEST [S], GTRONIC [S], TM [S], SUCCESS [S], KLCC [S], KSENG
Top Active Stops were EKOVEST [S], WD, PUC [S], UMWOG [S], HUAAN [S], HIBISCS [S], CUSCAPI [S], HUBLINE, TRIVE [S]
Gainers narrowly outnumbered losers 504 to 368.
Top Gainer were DIN045801028 [S], PMBTECH [S], 8443WB, PMETAL [S], TGUAN-LA, PANAMY, SUIWAH [S], TIMECOM [S], PETDAG [S], MISC [S].
Top Looser were BAT, NESTLE [S], PERSTIM [S], AJI [S], EKOVEST [S], GTRONIC [S], TM [S], SUCCESS [S], KLCC [S], KSENG
Top Active Stops were EKOVEST [S], WD, PUC [S], UMWOG [S], HUAAN [S], HIBISCS [S], CUSCAPI [S], HUBLINE, TRIVE [S]
Friday 27 October 2017
Mid-day Market Update on Budget Day 2018
Share prices on Bursa Malaysia staged a rally today in anticipation of positive perks to be announced by Prime Minister Datuk Seri Najib Tun Razak when he tables the Budget 2018 later today.
Dealers said market sentiment picked up today. However, they said it remained to be seen if the gains can be sustained following the Budget 2018 announcement. Historically, the FBM KLCI tends to climb ahead of budget announcements.
At midday, FBM KLCI closed 10.47 points, or 0.6% higher at 1,747.27 points. The index opened 4.54 points better at 1,741.34.
In the broader market, there were 420 stocks advancing against 290 stocks declining while 400 counters unchanged. About 1.58 billion shares, valued at RM1.12bil, changed hands.
Hong Leong Investment Bank Research said investors were still adopting a wait-and-see mode ahead of Budget 2018.
“In the US, the focus would now shift to corporate tax reform details that may be unveiling soon as this should enhance the earnings in the future. Nevertheless, we think the Dow may experience a short term pullback amid overbought signals and the upside is likely to be capped around 23,500.
“Still, for the local bourse, stocks are likely to stay cautious ahead of Budget 2018. However, should there be any positive announcements in Budget 2018, we may expect short term recovery of key index towards 1,740-1,750. Also, oil and gas stocks could stay focus amid stronger Brent prices above US$59,” it said.
The top three index movers were Tenaga Nasional Bhd (TNB), Sime Darby Bhd and Axiata Group Bhd.
Heavyweight TNB, with a 7.68% weighting in the KLCI, was up 4.74%, or 68 sen, to RM15.02. The counter hit an all-time high earlier after climbing 94 sen jumped 94 sen, or 6.69% to RM15.30 as investors focused on a record dividend of RM3.5bil and ignored a marginally lower earnings in its latest quarterly report.
Among the gainers were Nestle, which rose 30 sen to RM86.90, Mercury gained 26 sen to RM2.15 and Poly Glass climbed 20.5 sen to 59 sen.
The top loser on Bursa Malaysia included British American Tobacco that fell 22 sen to RM40.56. Tasek lost 10 sen to RM12.60 while Genting Bhd fell nine sen to RM9.24.
Meanwhile, ringgit depreciated 0.19% to 4.2425 against the US dollar.
Overnight, most US stocks climbed amid a raft of robust earnings reports, speculation about the Federal Reserve’s next leader and congressional action on taxes. The Dow Jones Industrial Average rose 71.61 points, or 0.31 percent, to 23,401.07.
Regional stocks finished largely higher at midday, tracking gains on Wall Street. Japan’s Nikkei rose 0.9% to 21,937.82 points by midmorning, after hitting as high as 21,968.75, its strongest level since mid-1996. South Korea’s Kospi rose 0.6% at 2,495.41 points while the S&P/ASX 200 index rose 5.4 points, or 0.1% to 5,921.7.
Hong Kong’s Hang Seng Index gained 0.84% to 28,438.43 points while Shanghai Composite index rose 0.28% to 3,417.12 points.
Source: http://www.thestar.com.my/business/business-news/2017/10/27/blue-chips-spur-market-rally
Dealers said market sentiment picked up today. However, they said it remained to be seen if the gains can be sustained following the Budget 2018 announcement. Historically, the FBM KLCI tends to climb ahead of budget announcements.
At midday, FBM KLCI closed 10.47 points, or 0.6% higher at 1,747.27 points. The index opened 4.54 points better at 1,741.34.
In the broader market, there were 420 stocks advancing against 290 stocks declining while 400 counters unchanged. About 1.58 billion shares, valued at RM1.12bil, changed hands.
“In the US, the focus would now shift to corporate tax reform details that may be unveiling soon as this should enhance the earnings in the future. Nevertheless, we think the Dow may experience a short term pullback amid overbought signals and the upside is likely to be capped around 23,500.
“Still, for the local bourse, stocks are likely to stay cautious ahead of Budget 2018. However, should there be any positive announcements in Budget 2018, we may expect short term recovery of key index towards 1,740-1,750. Also, oil and gas stocks could stay focus amid stronger Brent prices above US$59,” it said.
The top three index movers were Tenaga Nasional Bhd (TNB), Sime Darby Bhd and Axiata Group Bhd.
Heavyweight TNB, with a 7.68% weighting in the KLCI, was up 4.74%, or 68 sen, to RM15.02. The counter hit an all-time high earlier after climbing 94 sen jumped 94 sen, or 6.69% to RM15.30 as investors focused on a record dividend of RM3.5bil and ignored a marginally lower earnings in its latest quarterly report.
Among the gainers were Nestle, which rose 30 sen to RM86.90, Mercury gained 26 sen to RM2.15 and Poly Glass climbed 20.5 sen to 59 sen.
The top loser on Bursa Malaysia included British American Tobacco that fell 22 sen to RM40.56. Tasek lost 10 sen to RM12.60 while Genting Bhd fell nine sen to RM9.24.
Meanwhile, ringgit depreciated 0.19% to 4.2425 against the US dollar.
Overnight, most US stocks climbed amid a raft of robust earnings reports, speculation about the Federal Reserve’s next leader and congressional action on taxes. The Dow Jones Industrial Average rose 71.61 points, or 0.31 percent, to 23,401.07.
Regional stocks finished largely higher at midday, tracking gains on Wall Street. Japan’s Nikkei rose 0.9% to 21,937.82 points by midmorning, after hitting as high as 21,968.75, its strongest level since mid-1996. South Korea’s Kospi rose 0.6% at 2,495.41 points while the S&P/ASX 200 index rose 5.4 points, or 0.1% to 5,921.7.
Hong Kong’s Hang Seng Index gained 0.84% to 28,438.43 points while Shanghai Composite index rose 0.28% to 3,417.12 points.
Source: http://www.thestar.com.my/business/business-news/2017/10/27/blue-chips-spur-market-rally
Wednesday 25 October 2017
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