2JUL Foreign fund nett buying 37M, Escape wave in the making?
https://theedgemalaysia.com/node/716519

Yesterday KLCI up is due to local institution fund purchase, can it sustain? Foreign fund nett buying 1JUL+1M only.

Small east wind is blowing:
Malaysian palm oil futures surged almost 2% to above MYR 3,990 per tonne, continuing their upward momentum for the fourth session to hit a more than two-week peak amid firmer rival oils in the Dalian and the CBoT. Meanwhile, crude oil prices stayed at a near two-month top amid bets that peak summer fuel demand will cause a supply deficit. At the same time, bets of poor production persisted amid dry weather in Southeast Asia. In top producer Indonesia, the government expects to implement its B40 palm oil biodiesel program by 2025. Capping the bullish impulse were data from cargo surveyor Intertek Testing Services that showed shipments of Malaysian palm oil products for June dipped 11.8% to 1,306,689 tons from 1,481,916 tons shipped during May. In India, the largest global importer of vegetable oils, good rainfall may boost the output of summer-sown oilseeds such as soybeans and groundnut, limiting the requirement for palm oil purchases in the new marketing year starting from Nov., 1.

Foreign fund is rescheduling portfolio for Q2 results, it seems. However nett selling is still dominant. Genting share price is highly depend on foreign funds. Foreign fund nett buying(+)/ selling (-): 20JUN-65M, 21JUN-176M, 24JUN-164M, 25JUN-76M, 26JUN+18M, 27JUN-266M, 28JUN+133M. We can compare foreign fund movement with Genting share price to check if any correlation.
(Foreign fund continue to nett sell 266M yesterday, turning point not yet seen. Genting range bound between 4.65-4.85 until a good/bad news which have material effect may break this range bound)

Fcpo report: Malaysian palm oil futures climbed almost 1% to above MYR 3,920 per tonne, rising for the third session as rival oils in the Dalian and the CBoT strengthened. The contracts are heading for the first weekly gain in four, amid bets that production in the coming weeks could fall due to dry weather in Southeast Asia. At the same time, crude oil prices are pointing for the third straight rise for the week on the back of escalating geopolitical tensions in the Middle East and Eastern Europe. For the month and the quarter, futures are set to sink more than 3.5% and over 6%, respectively, pressured by weak exports. Cargo surveyor's data noted shipments of Malaysian palm oil products for June 1-25 plunged between 16.1 and 16.9% from the same period in May. In India, the largest global importer of vegetable oils, New Delhi approved limited imports of corn, crude sunflower oil, and refined rapeseed oil under the tariff-rate quota system, allowing importers to benefit from zero or reduced duties.

Foreign fund continue to nett sell 266M yesterday, turning point not yet seen. Genting range bound between 4.65-4.85 until a good/bad news which have material effect may break this range bound

Genting T+4, selling pressure should be resolved. Foreign Fund become mild nett buying since yesterday after 1 week of nett seller of bursa market....

Ha, Genting drop below MAV20, 100 for fund to collect slowly.......

Fund exit ytl and ytlpower is welcome to onboard Genting d' laggard

Today T+2, as long as hold above and close above MAV20 and MAV100, no problem with slightly bullish as RSI hooked up above 50%.....

FCPO report: Malaysian palm oil futures slipped around 1% to trade below MYR 3,920 per tonne, halting gains from the prior two sessions due to weak rival oils on the Dalian and the CBoT. The contracts are pointing to the first weekly drop in four, down around 0.7% so far, rattled by weak export figures. Shipments of Malaysian palm oil products for June 1-20 fell between 8.1% and 12.9% from May 1-20, according to AmSpec Agri and Intertek Testing Services. Meanwhile, industry data showed palm oil stocks stood at 1.75 million metric in May, the highest since February. Capping the fall were signs of higher domestic demand after Malaysia cut diesel subsidies, a move that could enhance the commercial use of biodiesel. In top buyer India, palm oil purchases in June were estimated at around 750,000 tons, not far from May's four-month peak of 769,000 tons. Separately, crude oil prices are on track to post gains for the second week due to lower US inventories and lingering conflict in the Middle East.

Good sign, slowly pump up from testing MAV20 and MAV100 4.74-4.75. everyday 5c will do.

Thailand Casino saga starts: PRIME Minister Srettha Thavisin used his first monthly television address as the country’s leader to promote plans for legalising casinos and building a nuclear power plant to curb illegal gambling and reduce electricity costs.
https://www.thestar.com.my/aseanplus/aseanplus-news/2024/06/23/thai-pm-touts-plans-for-casinos#:~:text=PRIME%20Minister%20Srettha%20Thavisin%20used,gambling%20and%20reduce%20electricity%20costs.

Genting share price movement today technically not bullish because 4.85 resistance was not broken. Fortunately closing able to stay above MAV20 (4.74) and MAV100 (4.75), providing small hope that both supports hold for near term. Foreign fund seems not buying into Genting transformation performance and today boss goreng ended not successful......

Closing probably around 4.85, as Bolinger band ceiling, slow slow don't rush, let foreign fund collect more at lower price range

Boss own goreng looks real as not much sellers. Question is if foreign fund buy his goreng. My short term target price increase from 5.40 to 5.50. Transformation of Genting is just starting

https://www.orientaldaily.com.my/index.php/news/nation/2024/06/19/659826
https://www.youtube.com/watch?v=5SO59lro2rk&t=2s

It seems Genting pause trading for these announcements:
GENTING BERHAD, VIA ITS INDIRECT SUBSIDIARIES, SIGNED A SHARE SALE AND PURCHASE
AGREEMENT WITH JINENG INTERNATIONAL ENERGY CO., LTD AND A HEADS OF AGREEMENT
WITH SDIC POWER HOLDINGS CO., LTD. IN RELATION TO THE DEVELOPMENT AND OPERATION
OF A GAS FIRED POWER PLANT IN THE GREATER SHANGHAI AREA IN THE ZHEJIANG
PROVINCE, CHINA

GENTING BERHAD, VIA ITS INDIRECT SUBSIDIARIES, SIGNED AN ENGINEERING,
PROCUREMENT, CONSTRUCTION, INSTALLATION AND COMMISSIONING CONTRACT WITH WISON
NEW ENERGIES CO., LTD. WORTH OVER USD1 BILLION FOR A 1.2 MILLION TONNES PER
ANNUM ("MTPA") FLOATING LIQUEFIED NATURAL GAS FACILITY TO BE OPERATED IN WEST
PAPUA, INDONESIA

Government is still cautious that hard working and high tech China citizen with AI technology may take over Malaysia job market share. Malaysia nationals is too relaxing
(為什么没有長期.., 永久性互相免签？)

Ha, Li Qiang no effect? Foreign fund become nett seller continuously 3rd day yesterday....

HSBC said VIsa free extended to end 2025. Confirmed?
HSBC: Malaysia has removed visa requirements for Chinese from Dec 1, 2023 in a bid to boost its tourism industry. The visa exemption was originally set to end on Nov 30, 2024 before the scheme was extended to end-2025.
https://theedgemalaysia.com/node/715986

《中国外交部和马来西亚内政部关于互免签证的意向书》memorandum or letter of intent only, the extend of execution and period not yet confirmed. Hopefully the detail can be announced in due time.

Correction: Immediate resistance: around 4.85, MAV20=MAV100=4.74, support MAV50=4.64, MAV200=4.56......Slowly but surely

FCPO Report: Malaysian palm oil futures tumbled around 1% to below MYR 3,905 per tonne, shifting from modest gains in the prior session as trading resumed from Monday's break for the Eid-al Adha celebration, amid weakness in soyoil prices on the Dalian exchange and softer US crude oil prices. Lower export estimates in June also pressured sentiment, as cargo surveyor's data from Intertek Testing Services and AmSpec Agri indicated shipments of Malaysian palm oil products for June 1-15 sank between 19.8 to 21.6%, from the same period in May. Meanwhile, palm oil stocks stood at 1.75 million metric in May, the highest since February. Capping the fall were forecasts that palm oil purchases by top importer India may stay robust in June, likely around 750,000 tons, not far from a four-month high of 769,000 tons in the prior month. At the same time, low inventories in key buyer China have prompted customers to order cargo for delivery from this month to September.

Fund push up YTLpower to exit in the morning and swap to Genting in the afternoon?

Jtiasa may be benefited from Li Qiang effect: Anwar and Li are also expected to witness the signing of several memoranda of understanding (MoUs) and agreements in various areas of cooperation including in digital economy, green development, tourism, housing and urban development, higher education, science and technology, as well as on the export of agri-commodities to China.

https://www.thestar.com.my/news/nation/2024/06/18/chinese-premier-li039s-visit-celebrates-50-years-of-malaysia-china-diplomatic-ties

Genting may be benefited from Li Qiang effect: Anwar and Li are also expected to witness the signing of several memoranda of understanding (MoUs) and agreements in various areas of cooperation including in digital economy, green development, tourism, housing and urban development, higher education, science and technology, as well as on the export of agri-commodities to China.

https://www.thestar.com.my/news/nation/2024/06/18/chinese-premier-li039s-visit-celebrates-50-years-of-malaysia-china-diplomatic-ties

Oh. Guardian pharmacy holding company

4.65 die-die must touch this morning to show bottom. Rebounding journey may be initiated, because technically already charting oversold. Gap up not closed, showing gap up zone strong support.

What will be Genm and Genting share prices respond if Malaysia announce reciprocally for China citizen visa free period extend to 2025 (currently end of 2024) during Li Qiang visit? https://www.thestar.com.my/news/nation/2024/05/08/visa-free-travel-extended-till-2025#:~:text=KUALA%20LUMPUR%3A%20Visa%2Dfree%20travel,two%20countries%2C%E2%80%9D%20he%20said.


What are Li Qiang bringing to Malaysia? More Chinese tourists, palm oil purchase, semiconductor and AI investment or construction projects?
https://www.malaymail.com/news/malaysia/2024/06/16/chinese-premier-li-qiangs-visit-to-malaysia-next-week-will-enhance-bilateral-ties/139970

Tuesday have a chance to close the Gap 4.55-4.65. Once Gap closed, rebound can gain higher strength..........

What Li Qiang is bringing to Malaysia? More Chinese tourists, palm oil purchase, Semiconductor investment or Construction projects?
https://www.thestar.com.my/aseanplus/aseanplus-news/2024/06/12/chinese-premier-li039s-visit-to-nz-australia-and-malaysia-set-to-boost-ties

What Li Qiang is bringing to Malaysia? More Chinese tourists, palm oil purchase, Semiconductor investment or Construction projects?
https://www.thestar.com.my/aseanplus/aseanplus-news/2024/06/12/chinese-premier-li039s-visit-to-nz-australia-and-malaysia-set-to-boost-ties

Genting https://casinobeats.com/2024/06/13/genting-malaysia-keeping-a-close-eye-on-thailand-developments/

Genting https://www.asgam.com/index.php/2024/06/13/genting-group-still-keen-on-us-listing/

GENM https://agbrief.com/news/malaysia/13/06/2024/casino-closure-off-the-table-as-rwg-business-surges-says-genting-coo/

GENM https://agbrief.com/news/malaysia/13/06/2024/casino-closure-off-the-table-as-rwg-business-surges-says-genting-coo/

Wednesday GENM AGM https://www.ggrasia.com/gen-malaysia-tells-agm-upbeat-on-homeland-ny-report/

Ha, Ikan bilis push up 2 sen.....

Thanks for update. PLease continue update

Great! Peak profit next 2Q.
(WilburR2
Fresh Fruit Bunches 82,084 metric tonnes
Crude Palm Oil 16,419 metric tonnes
Palm Kernel 3,390 metric tonnes
Logs 4,741 cubic metres)
(Sslee

Jayatiasa should report a good FFB production for month May.

Malaysian Palm Oil Association (MPOA) on Friday reported that CPO production from May 1-31, 2024, compared to April 1-30, 2024, has increased by 14.85% in Peninsular Malaysia, 1.3% in Sabah, 19.75% in Sarawak, and 7% in East Malaysia, resulting in an overall increase of 11.83% for Malaysia’s CPO production.)

Sorry Mistaken the date of AGM....

Today FCPO report: Malaysian palm oil futures climbed almost 1% to near MYR 3,970 per tonne, gaining for the second straight session amid strength in soyoil contracts on the Dalian exchange and the CBoT. Meanwhile, the Malaysian Palm Oil Board (MPOB) reported that shipments in May jumped to a six-month peak of 1.38 million tons, a surge of 11.66% from the prior month. At the same time, crude oil prices rose for the third day, on upbeat global demand views from OPEC+ and the US EIA. In top importer India, palm oil purchases surged 12.4% during May to a four-month high of 769,000 metric tons. Meanwhile, the country's buying for June is expected to stay robust, likely at around 750,000 tons. Limiting the bullish momentum was caution that production growth may exceed industry expectations in the coming months. In May, output surged 13.8% from April to 1.7 million tons, the biggest in six months. Simultaneously, palm oil stocks last month stood at 1.75 million metric tons, the highest since February.

Foreign fund nett buying continue.... 7/6 nett buying 187M, 10/6 nett buying 11M, 11/6 nett buying 135M........ (Looks good, Confirmed Foreign Fund reschedule portfolio: After weeks of nett selling, 1st day 4/6 nett buying 254M, 5/6 nett selling 69M, 6/6 nett buying 164M, today will be nett selling? Genting may be benefited because 2Q business should be good.)

Genting Singapore can not move up recently despite good results especially after AGM may be due to higher expected CAPEX in near future. Higher CAPEX may eat into potential higher dividend.

It seems 4.65-4.68 successfully hold the share price in short term, time to U-turn.

If Trump win the election, USD long term will be soften, as it is republican monetary policy. Genting share price may spike

Foreign fund nett buying continue.... 7/6 nett buying 187M, 10/6 nett buying 11M.......... (Looks good, Confirmed Foreign Fund reschedule portfolio: After weeks of nett selling, 1st day 4/6 nett buying 254M, 5/6 nett selling 69M, 6/6 nett buying 164M, today will be nett selling? Genting may be benefited because 2Q business should be good.)

USD/myr is gaining strength today , good for short term palm oil price and export

Generally May export is good and production higher; higher revenue and profit are expected because April-June YoY average FCPO prices are higher. (Crude palm oil production gained 13.48% from April to 1.70 million tonnes, the biggest in six months.
Palm oil exports also rose to a six-month high of 1.38 million tonnes, up 11.66% from April, the MPOB said.)

https://theedgemalaysia.com/node/714803