KLSE Traders Update and Ideas
Evening Market Summary - 29 Apr 2020
FBM KLCI: 1,380.30 pts (+8.10pts, +0.59%)
The FBM KLCI (+0.6%) registered its’ third day winning streak, boosted by the relaxing measures of economic activities under the Phase 4 Movement Control Order (MCO) announced by the government last night. Market breadth turned positive as advancers outnumbered the decliners on a ratio of 629-to-249 stocks. The technology sector (+3.5%) was the biggest winner amongst its peers, supported by Notion Vtec (+24.5 sen), UWC (+23.0 sen) and MI Technovation (+21.0 sen) after obtaining green light to operate at full capacity.
Top 3 Active stocks:
NETX (0020): RM0.015 (+0.5 sen)
XDL (5156): RM0.07 (+0.5 sen)
KGROUP (0036): RM0.095 (+1.5 sen)
Volume: 4.83 bln (100-day avg vol: 3.56 bln)
Value: RM2.46 bln
Market Breadth: ⬆:629 ⬇:249
Crude palm oil: RM2,045 (+RM25)
Dow Futures: 24,227 pts (+182 pts)
Source: Bloomberg, M+ Online
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Covid-19 shifting consumer behaviour in technology-based solutions
CORPORATE NEWS
PETALING JAYA: The ongoing Covid-19 pandemic is causing a shift in consumer behaviour towards favour technology-based solutions for consumers.
“E-commerce, which has relatively low penetration rates in Asean, is seeing a significant leap. Singapore’s online sales jumped by 38% in February, a sharp contrast to the fall of 10% in overall retail sales, ” said Maybank Investment Bank (Maybank IB) in its report.
“Demand for food delivery services – which has lower penetration rates ranging from 1.9% in Indonesia to 5.5% in Philippines – is rising across Asean. With the ban on dine-in services, more food merchants are signing up with delivery platforms such as GrabFood, Foodpanda and Deliveroo, ” it added.
It also notes that telehealthcare is becoming increasingly important in countries with a scarcity of doctors such as Indonesia (0.38 doctor per 1,000 people) and Thailand (0.81) where video consultations have nearly doubled.
Meanwhile the report said that in Singapore, concerns over food supply disruption had increased searches for staples such as eggs, rice and vegetables.
“On the other hand, searches for discretionary items such as footwear, formal wear and cosmetics have plunged, ” it said.
“With people staying home, cooking items and recipes, indoor sports equipment, and entertainment (such as Netflix and Nintendo) are popular searches, ” it added.
The increase in work-from-home policies have also increased demand for office-related equipment (computer monitors and office chairs) and teleconferencing platforms,Maybank IB said.
2020-04-29 19:18