M+ Online Research Articles

Author: MalaccaSecurities   |   Latest post: Thu, 26 Nov 2020, 11:20 AM


Mplus Market Pulse - 27 Dec 2019

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Window Dressing Resumption

The FBM KLCI (-0.04%) resumed trading in a lackluster manner after the key index was traded in a tight range yesterday. The lower liners – the FBM Small Cap (+0.6%), FBM Fledgling (+0.3%) and FBM ACE (+1.4%), all advanced, while the broader market finished mostly higher, anchored by the energy sector (+1.1%).

Market breadth turned positive as advancers outmuscled decliners on a ratio of 428-to-305 stocks. Traded volumes rose 21.3% to 1.90 bln shares amid the positive market sentiment.

The weakness on the local bourse were led by Nestle (-50.0 sen), Petronas Gas (-44.0 sen), Petronas Dagangan (-26.0 sen), Public Bank (-14.0 sen) and Malaysia Airport Holdings (-6.0 sen). Notable decliners on the broader market include Fraser & Neave (-48.0 sen), KESM Industries (-20.0 sen), Southern Acids (-15.0 sen), MPI (-14.0 sen) and Gopeng (-8.0 sen).

Amongst the biggest gainers on the broader market were consumer products stocks like Dutch Lady (+72.0 sen), Carlsberg (+36.0 sen) and Panasonic (+20.0 sen), while LPI Capital and Batu Kawan added 16.0 sen and 12.0 sen respectively. Meanwhile, PPB Group (+24.0 sen), Hong Leong Financial Group (+14.0 sen), IOI Corporation (+8.0 sen), Tenaga (+6.0 sen) and Maybank (+4.0 sen) rose on the key index.

Asia benchmark indices edged higher as the Shanghai Composite rose 0.9% on the upbeat prospects of U.S.-China partial trade deal, while the Nikkei (+0.6%) rebounded. Hong Kong equities remain closed for the Boxing Day public holiday. ASEAN stockmarkets, meanwhile, finished mostly higher on Thursday.

U.S. stockmarkets resume trading on an upbeat manner as the Dow (+0.4%) hit another milestone. Similarly, the S&P 500 rose 0.5% with ten of the eleven major sectors in the green, while the Nasdaq (+0.8%) was powered to close above the 9,000 psychological level after rising for the past eleven straight session.

Elsewhere, major European equities were closed for the Boxing Day public holiday.


After a retreat on Boxing Day, we think the window dressing activities will resume on Bursa Malaysia over the near term as the upsides will be in tandem with strong surge on Wall Street overnight. As it is, there remains no change to the market’s fundamentals and the upsides will largely be on the positivity of overseas equity markets that is expected to permeate to the local bourse.

Going into the final days of the week, there appears to be some more upside potential after mild pullback as of late. This could provide some impetus for further near term upsides amid some bargain hunting and window dressing activities that is likely to lift the global markets. In the interim, the FBM KLCI could push towards the 1,621 level amid the resumption of the window dressing acts. The supports, meanwhile, are at 1,590 and 1,580 respectively.
The lower liners and broader market shares could also head higher in tandem with the improved sentiments. We reckon that the plantation and energy sector may garner strong trading interest amid the higher commodity prices, while the technology sector may also advance in tandem with the record closing in technology-focused Nasdaq.


Two Seacera Group Bhd directors, Rozaidi Baharuddin and Halim @ Ab Halim Ismail, have resigned, following a legal suit launched against the group by a shareholder.

Yap Suet Heng is pursuing a legal case against Seacera and its directors after his proxy was rejected at the group’s AGM on 29th November, 2019; stating that it was wrongful, and is seeking a court order to invalid the proceedings and resolutions passed at the AGM. (The Edge Daily)

TRC Synergy Bhd has secured a contract by Bank Negara Malaysia worth RM118.8 mln to modernise its mint in Shah Alam on 24th December, 2019. (The Star Online)

Alam Maritim Resources Bhd has been awarded a contract from Petronas Carigali Sdn Bhd for RM14.4 mln. The job involves the provision of an anchor handling tug and supply vessel, effective 12th November, 2019.

Subsequently, Petronas Carigali will be chartering Alam Maritim's Setia Jihad vessel for up to 152 days. (The Edge Daily)

A firm owned by the Selangor State Development Corp (PKNS) and Andaman Group has launched a legal suit against Parkson Holdings Bhd for allegedly failing to pay rent for a retail space in EVO Shopping Mall in Bangi. PKNSAndaman Development Sdn Bhd (PKNS), in its statement of claim, accused Parkson of failing to pay the rent as provided for in a tenancy agreement dated 2nd October, 2017. (The Edge Daily)

PLS Plantations Bhd has secured a threemonth extension until 29th February, 2020 to resolve its public shareholders spread. As of 29th November, 2019, PLS Plantations’ public shareholdings spread stood at 23.3%. (The Edge Daily)

Source: Mplus Research - 27 Dec 2019

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