FCPO: Malaysian palm oil futures plunged more than 1.0% to below MYR 3,920 per tonne, withdrawing for the second session amid falls in rival oils on the Dalian and CBoT markets. Meanwhile, signs of higher output in July strengthened, as data from the Southern Peninsular Palm Oil Millers showed palm oil production jumped 17.8% month-over-month from July 1 to 20. Simultaneously, crude oil prices fell for the second day as worries about weaker demand prevailed. Capping the bearish mood was a sentiment of robust exports, highlighted by cargo surveyors' data that shipments of Malaysian palm oil products soared between 39.2 to 41.4% from July 1 to 20. In the world's biggest buyer India, purchases of edible oil imports surged are expected to jump 26% to a record 1.92 million tons, due to lucrative prices and ahead of an anticipated hike in import duties. In top producer Indonesia, the government is planning for the use of palm-oil-based B40 biodiesel in 2025, replacing the current B35 blending.

Positive for Genting also. Delay Licensing meaning delay CAPEX, thus GMNM have sufficient cash to distributed to mother Genting in near term.
(Posted by neohts > 5 hours ago | Report Abuse
https://theedgemalaysia.com/node/720114
New York downstate casino licence to be awarded by end-December 2025, positive for GenM — Phillip Capital)

Bursa Market Foreign fund nett selling Day 1 yesterday -147M. if KLCI index unable to return above short term support 1630 in 3 days, market may settle down for portfolio rearrangement for future Trump presidency until Olympic games finish. Genting is the beneficiary of week dollars, thus should be good near Olympic games ended. Watch 4.85

Coming! FCPO report: Malaysian palm oil futures hovered near MYR 3,980 per tonne, rising for the fifth session amid strength in rival oils on the Dalian and CBoT markets. Bets of strong exports in July also strengthened after data from cargo surveyors showed shipments of Malaysian palm oil products surged between 39.2 to 41.4% for July 1-20. In top buyer India, palm oil buying this month could reach 850,000 metric tons, compared with 788,000 tons in June, as upcoming festivals loom. Turning to key consumer China, policymakers moved to further help a fragile economy after last week's Third Plenum by cutting key lending rates to fresh lows and delivering the first rate cut for its short-term policy rate. A stronger ringgit capped the bullish notion. Meanwhile, figures from the Southern Peninsular Palm Oil Millers Association implied palm oil output rose by 8.7% on the month during the first half of July. Regarding crude oil, prices were mixed after US President Biden decided to bow out of the election race.

Foreign fund nett buying Day 16 last Friday +93M, Local institution keep nett selling -102M. KLCI short term support 1630 unfortunately broken down so easily, let see if today can close above 1630. If today is a bearish engulfing or evening star candlestick, market may settle down for portfolio rearrangement for future Trump presidency until Olympic games finish. It seems foreign fund temporally trapped by local institutions. Genting is the beneficiary of Trump presidency, thus should be good near Olympic games ended. Watch 4.85

Foreign fund nett buying Day 15 yesterday +21M, Local institution keep nett selling -55M. KLCI short term target 1630 broken D2, if D3 can close above 1630, next week outlook will be bright. It seems foreign fund start buying Genting. Watch 4.85

FCPO: Malaysian palm oil futures were around MYR 3,940 per tonne, touching more than 4000, increasing for the third session as rival oils on the Dalian and the CBoT markets strengthened. At the same time, exports for July are expected to grow robustly, driven by strong demand from top buyer India ahead of upcoming festivals. Data from cargo surveyors Intertek Testing Services and AmSpec Agri showed shipments of Malaysian palm oil products for July 1-15 climbed between 65.9% and 75.6% from a month before, as shipping disruptions eased. Meanwhile, worries over a potential La Nina event emerged as the weather may bring higher rainfall in Southeast Asia, weighing supply. Elsewhere, the Malaysian Palm Oil Association said the contracts are projected to average between MYR 3,850 to MYR 4,000 this year, a slight rise from 2023. A firmer ringgit capped the upside notion, however. Separately, crude oil prices were near their lowest in a month, rattled by signs of weakening demand in China, the world's largest oil importer.

Foreign fund nett buying Day 13 yesterday +64M, Local institution keep nett selling -84M. KLCI short term target 1630 seems broken, let see closing index if can maintain above 1630. Any successful breakout will bring KLCI towards 1680! Is Genting turn this round? Watch 4.85

Palm oil export delay due to congestion at Malaysia ports in June currently released in early July, causing export surge in July.
FCPO: Surveillance said exports of Malaysian palm oil products for the period were at 786,830 tons, compared with 488,388 tons on June 1-15. Separately, the Malaysia Palm Oil Board projected demand from big buyers, including India will stay robust ahead of upcoming festivals. Limiting the upside mood was the third session of drop in crude oil prices due to a firmer dollar following Donald Trump’s assassination attempt. Meantime, economic momentum in key buyer China notably eased in Q2 of 2024, due to multiple headwinds at home and from abroad.

It seems that local institutions and retailers are unloading shares anything above 1630 recently.......

Let's hoping August Q2 results release >10sen and dividend>7sen, RM5 can be touched.

Foreign fund nett buying Day 12 yesterday +327M, KLCI short term target 1630 reached. Any successful breakout today will bring KLCI towards 1680! Is Genting turn this round? Watch 4.85

Today may be a one day show because Genting Singapore is not moving together, Maybank IB trap again? real breakout is expected in early August when Genting Singapore QR release.

Today witnessing real 破底（4.65）翻. Maybank IB vs retail investors

Malaysian palm oil futures traded above MYR 3,950 per tonne, increasing for the second straight session amid continued bargain hunting and strength in soyoil oil on the CBoT market. At the same time, bets strengthened that exports in July may recover as shipping disruptions ease. Cargo surveyor AmSpec Agri noted that Malaysia's palm oil shipments for July 1-10 jumped strongly by 86% on the month. Separately, the Malaysia Palm Oil Board projected that demand from key buyers China and India will remain robust in the near term. Recent estimates showed India's palm oil buying may reach 850,000 metric tons in July ahead of upcoming festivals, after hitting a six-month peak of 788,000 tons in June. The contracts are set to finish the week on a downbeat note, however, down over 2% so far following gains in the prior two periods, pressured by figures from the industry regulator that showed inventories in June jumped to a four-month high of 1.83 million metric tons.

Genting reponded to Genting Singapore share price rebound today, let wait for double bottom forming. Double bottoms expected to be formed in early August. KLCI yesterday seems is a false breakout of range bound depending on today closing. If false break out yesterday confirmed, KLCI will be bearish until Olympic games finish

Malaysian palm oil futures were below MYR 3,920 per tonne, falling for the sixth straight session as soybean oil on the CBoT market weakened amid favorable US crop conditions. Meanwhile, data from the industry regulator showed inventories in June climbed to a four-month high of 1.83 million metric tons. The Malaysian Palm Oil Board (MPOB) attributed the rise in stocks to a steeper fall in shipments compared to production. Exports of palm oil plunged 12.82% from May to 1.21 million tons last month while crude palm oil production dropped 5.23% to 1.62 million tons. Capping the bearish impulse was a further rise in crude oil prices due to signs of robust demand in the summer amid a large drawdown in US oil inventories. Elsewhere, the MPOB said demand from key buyers China and India will stay strong in the near term. Recent estimates showed India's palm oil buying may reach 850,000 metric tons in July ahead of upcoming festivals, after hitting a six-month peak of 788,000 tons in June.

June 2024 export is higher than June 2023 at higher CPO price.
https://theedgemalaysia.com/node/718430
https://bepi.mpob.gov.my/index.php/stock/313-stocks-2024/1173-monthly-closing-stock-of-oil-palm-products-2024

Malaysian palm oil futures plunged over 2% for the second straight session to below MYR 3,880 per tonne, pressured by weaker soyoil prices after the US Department of Agriculture increased the percentage of the soy crop in good-to-excellent conditions. The contracts slipped for the fifth session as inventories built, marked by the latest data from the Malaysian Palm Oil Board (MPOB) that showed Malaysia's palm oil stocks at the end of June rose 4.35% mom to 1.83 million metric tons. Meanwhile, shipments slumped 13% to 1.21 million tons last month, due to shipping issues. At the same time, crude oil prices fell for the fourth day, amid a bigger-than-estimated drop in US crude stocks. Mitigating the downside impulse were reports from industry regulators that output in June fell 5.2%. In top buyer India, palm oil purchases are expected to reach 850,000 metric tons in July after notching a 6-month peak of 788,000 tons in June as demand will stay strong ahead of upcoming festivals.

a small 破底翻 still not formed successfully, as no news is bad news. Good news may only arrive in August

Genting looks like playing a small 破底翻 today, let check any news these few days....

Genting finally closing price gap @4.59-4.65.......Big fund pushing price down to buy.

Foreign fund nett buying continue....28JUN+133M ; 1JUL+1M ; .2JUL +37M; 3JUL+259M.; 4JUL +86M.... Looks good, KLCI short term target 1630

FCPO yesterday report: Malaysian palm oil futures hovered around MYR 4,060 per tonne, slipping for the first session in six and retreating from an over four-week top amid some profit-taking and weakness in soyoil prices on the CBoT market. Moreover, concerns over weak exports grew, particularly after cargo surveyors' data surveyor Intertek Testing Services and AmSpec Agri reported shipments of Malaysian palm oil products for June declined between 11.8% to 15.4% from the prior month. Capping the fall were reports that palm oil imports from top buyer India rose by 3% in June to notch the highest level in six months, due to robust demand from refiners for upcoming festivals and as the commodity traded at a discount to rival oils. Turning to top producer Indonesia, the government expects to implement its B40 palm oil biodiesel program by 2025. Meanwhile, crude oil prices rose modestly after moving lower in the previous day, supported by a bigger-than-expected draw in US stockpiles.

2JUL Foreign fund nett buying 37M, 3JUL+259M. However foreign fund didn't buy Genting yesterday, they buy contructions, utilities, technology, O&G...... When is Genting turn?

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?