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Down, but not out

Amid the lack of follow-through buying interest, we reckon that the downward bias consolidation on the key index will remain in place. Additionally, the recent increase in Covid-19 cases across Peninsular Malaysia will pose a stumbling block for the nation economic recovery. Nevertheless, the lower liners are attempting to find their footing, with rotational play across sectors will keep trading interests at a decent level.
market pulse

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technical focus

Technical Focus – VS

One of the leading integrated Electronics Manufacturing Services (EMS) providers in the region, supported by multinational customers from Europe, Japan and US. Newly built 413,682-sqf production plant at i-Park Senai Airport City will cater for several new product models. Compelling prospects, riding onto the increasing adoption of emerging technologies in the Industrial Internet of Things (IIoT) and enhanced communication posed by 5G. Technically, price has experienced a short-term breakout above RM1.47, targeting the next resistances at RM1.55-1.60 with long term target at RM1.75.

market pulse

Dour trend still on horizon

The FBM KLCI finished the week lower last Friday, as foreign funds turned into net
seller; the net selling stood at RM72.6m, snapping the 4 days of inflow by the
foreign funds. However, the local bourse may see bargain hunting activities
emerging on the back of declining daily Covid-19 confirmed cases, while waiting
for Malaysia’s inflation rate that will be released this Friday. Meanwhile, both the
CPO and crude oil price declined, while Baltic Exchange Dry Index rose to 4,275, its
record high since 2009.

macquarie structured warrants 20200914

HSI warrants take on centre stage last week

The warrants market witnessed an overall lower trading activity last week partly due to the shorter trading week as Bursa Malaysia was shut on Thursday in conjunction with the Malaysia Day holiday. The total warrants turnover for the week came in at RM237.8mil versus RM268.9mil in the previous week

technical focus

Technical Focus – HARBOUR

An integrated logistics services provider, shipping and engages in construction works, heavy lifting and haulage as well as property development with established footprint extends across the Intra-Asia region. Capitalising on the increasing charter and freight rates that was stemmed by the global supply chain disruption following the shortage of vessels, coupled with the improving trade activities. Current price at RM1.01 is trading at a discount to its book value per share of RM1.12 which was recorded in 3QFY21. Technically, traders may anticipate for a short-term breakout above RM1.01, to target next resistances at RM1.06-1.13 with long term target set at RM1.20.

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