Posted by masterus > 2017-08-28 20:24 | Report Abuse

US Dollar Index depressed near 92.50
By Pablo Piovano
The US Dollar Index – which tracks the greenback vs. its main rivals – remains under pressure at the beginning of the week, now trading in the 92.40 area, near YTD lows.

US Dollar offered post-Yellen

The index has managed to rebound from fresh yearly lows near 92.30 recorded at the very beginning of the Asian session today, although it remains fragile following the innocuous speech by Chief J.Yellen at the Jackson Hole Symposium on Friday.

Expectations of a Fed’s move on rates later in the year appear to be declining among investors, hurting both DXY and yields in the US money markets. In fact, yields of the US 10-year reference are now attempting a rebound above the 2.17% level after bottoming out near 2.16% on Friday.

In addition, another round of the Trump-NAFTA conflict seems to have buried any optimism regarding the future of the tax reform and extra fiscal stimulus via infrastructure spending, all weighing on the buck and keeping USD-bulls at bay.

Data wise today, wholesale inventories, July’s goods trade balance and the Dallas Fed manufacturing index are all due later in the NA session.

US Dollar relevant levels

As of writing the index is losing 0.01% at 92.51 and a breakdown of 92.31 (2017 low Aug.28) would open the door to 91.91 (2016 low May 3) and then 91.51 (low Jan.15 2015). On the flip side, the next up barrier aligns at 93.25 (10-day sma) followed by 93.44 (high Aug.25) and finally 94.14 (high Aug.16).

Posted by JJchan > 2017-08-29 00:38 | Report Abuse

http://www.thestar.com.my/business/business-news/2017/04/19/singapore-oil-and-gas-exposure-manageable/

i think RHB also take a Hit in O&G.....why no problem?

On 23 Aug, vol was about 10m, Epf was the biggest buyer about 60%. I believe last Friday, EPF
was also the biggest buyer since vol was 10m. Once Epf entered, all sharks will cabut especially
if they are only remisier

Posted by helloworld123 > 2017-08-29 08:45 | Report Abuse

walao, EPF buying 3 million shares! They know sth and I think they will continue to buy.

Posted by JadeSchira > 2017-08-29 10:10 | Report Abuse

Buy

Posted by shortinvestor77 > 2017-08-29 10:27 | Report Abuse

http://www.klsescreener.com/v2/news/view/274775

Posted by Beza > 2017-08-29 10:29 | Report Abuse

KUALA LUMPUR: The selldown in AMMB Holdings Bhd shares following the scrapped merger talks with RHB Bank Bhd was unjustified, as the bank is still fundamentally sound, according to analysts.

Since the announcement of the failed merger, AMMB has fallen 5% from its closing price of RM4.70 last Tuesday. Prior to that, the banking stock had already been on the decline, retreating from a two-year closing high of RM5.62 in May. The stock closed at RM4.43 yesterday.

Following the group’s result briefing last week, Hong Leong Investment Bank Bhd (HLIB) analyst Khairul Azizi Kairudin said in a note yesterday that it is business as usual for AMMB, adding that the group posted commendable results for the first quarter ended June 30, 2017 (1QFY18).

“Despite the merger discussions with RHB, AMMB delivered commendable 1QFY18 results amid a quiet quarter due to Ramadan and Hari Raya.

AMMB’s quarterly financial figures came in in line with HLIB’s consensus expectations with earnings growing 1.6% year-on-year (y-o-y) and 31% quarter-on-quarter, he said.

Khairul said the management had refuted the claims that the merger was scrapped due to contingent liabilities at the recent results briefing. Instead, it was attributed to the two parties being unable to reach a conclusion over various terms, including pricing and synergy.

Following the failed merger, Khairul said the bank will be pursuing its Top 4 initiatives — aimed at growing its four segments, namely wholesale banking, business banking, retail banking and general insurance — organically.

“We feel that AMMB is showing progress towards its Top 4 aspiration by 2020,” Khairul wrote in the report.

The research house maintained its “buy” call on the stock with a target price of RM5.20, adding that AMMB is currently trading at a steep discount of 0.78 times its book value.

Similarly, Affin Hwang Investment Bank Bhd analyst Tan Ei Leen said the group is still operationally sound and has upgraded AMMB to “buy” from “hold”.

“The recent selldown in AMMB’s stock was unjustified in our view, subsequent to the aborted merger plan with RHB [Bank], while there were concerns about huge contingent liabilities in the group.

“AMMB’s management gave assurance that these were due in part to the ordinary course of business and not a major concern,” she said.

Meanwhile, MIDF Amanah Investment Bank Bhd said asset quality remains a concern as the gross impaired loan (GIL) ratio remains elevated at 1.88%, up 19 basis points (bps) y-o-y.

“This came from [the] wholesale banking segment where [the] GIL ratio was 49bps higher at 2.39% as there were impairments on a few accounts, particularly from a property developer,” said the research house.

Posted by JadeSchira > 2017-08-29 11:01 | Report Abuse

Continuous shortselling. WTF

Posted by JadeSchira > 2017-08-29 11:15 | Report Abuse

Something wrong with Ambank. No bank in Malaysia price so drastic over 1 month time.

Posted by assthrow > 2017-08-29 11:17 | Report Abuse

how wrong could ambank be? as is tightly regulated by bank negara....

Posted by sbzk > 2017-08-29 11:26 | Report Abuse

go to hell..........ambank so damn lousy..... makan tahi lah

Posted by Alex Foo > 2017-08-29 11:36 | Report Abuse

the share price drops as if ambank going to chaplap. But my local ambank business as usual?

Posted by kf911 > 2017-08-29 11:43 | Report Abuse

gg. trading at lowest price this year

Posted by UncleJ > 2017-08-29 12:44 | Report Abuse

Buy n collect

Posted by JadeSchira > 2017-08-29 14:11 | Report Abuse

I pray Ambank rebound so that my retirement funds will burn.

Posted by isandy > 2017-08-29 14:15 | Report Abuse

i bought at RM4.98 :'(

Posted by HamzahB > 2017-08-29 14:19 | Report Abuse

If business is sustainable and profitable, ANZ won't be so despo to sell lo...

Posted by Beza > 2017-08-29 14:44 | Report Abuse

For so many years ANZ still not selling its portion, why you said it desperate?

Posted by Beza > 2017-08-29 14:45 | Report Abuse

ANZ wanted a good price, 2 times NTA at least before selling. What so hurry? Do you think it is easy to start a bank or get a bank licence?

Posted by JadeSchira > 2017-08-29 14:50 | Report Abuse

Ini bukan main main. The way they throw down, these guys own at least 1%-4% of ambank

Posted by kf911 > 2017-08-29 14:51 | Report Abuse

few thousand lots gone in seconds

Posted by meiling0809 > 2017-08-29 15:48 | Report Abuse

rubbish stock, i thought the share price will up when EPF acquired more! wrongly trust LXA!!!

Posted by joetay > 2017-08-29 15:55 | Report Abuse

@meiling0809,

now i confirm u dont know what is called investing/trading.

if u know what is called investing/trading, u will know what to buy in times like this.

Posted by kf911 > 2017-08-29 15:58 | Report Abuse

just hold for long term. the dividend you get eventually will cover back the capital losses. the stock wont keep on dropping

Posted by ZeaXG > 2017-08-29 16:07 | Report Abuse

rare opportunity to collect at cheap price.

Posted by JadeSchira > 2017-08-29 16:21 | Report Abuse

But why isnt fund manager collecting? Dont be fooled by rare opportunity statement.

Posted by ZeaXG > 2017-08-29 16:37 | Report Abuse

It's rare because the price movement does not correspond with the actual value of the business.
And how do you know "fund manager" isn't collecting? Whoever is throwing these shares out, I'd say he/she is stupid or desperate to exit.

Posted by YSL888 > 2017-08-29 16:47 | Report Abuse

Buy when others are fearful

Posted by lwyy60 > 2017-08-29 16:48 | Report Abuse

TQ for the 5 sen. With the tension along north korea threat. I wont suggest to hold for long term. Anyway high risk high return. Rebound play will do. Good luck all.

Posted by apanama > 2017-08-29 17:14 | Report Abuse

The correction is over and over done...normally last day August trading gap from low to high will be about 10++ ..i am not surprise..tomorrow Ambank will GREEN..and also other banks as well..:)..tomorrow Market FBMKLCI will settle about 1768-1773

Posted by joetay > 2017-08-29 17:17 | Report Abuse

@apanama,

today is supposed to be rebound day for ambank if fat boy kim is not finger itchy.

make me lose 10c/share today.

Posted by mxlitfly > 2017-08-29 17:18 | Report Abuse

long term OK... the problem is if you are playing contra..... u ar in deep shit already........ no doubt about it.....

Posted by mxlitfly > 2017-08-29 17:21 | Report Abuse

fat boy kim finger itchy....hahahahaha.......bloody dictator.......

Posted by joetay > 2017-08-29 17:41 | Report Abuse

@mxlitfly,

not playing contra with ambank.

hard to play contra with index stocks since movement % seldom huge enough to make money.

Posted by griezmann > 2017-08-29 18:42 | Report Abuse

RHB due diligence found something?

Posted by gsi723 > 2017-08-29 18:44 | Report Abuse

Maybank also fall....

Posted by UncleJ > 2017-08-29 19:13 | Report Abuse

Uncle j play share many years. Let uncle tell grandpa stories. In 1997 crisis bank a lot go down. Uncle remember publick bank drop until rm 2 . No ppl want tat time. Uncle buy 20,000 public bank at rm 2 n hold until now rm 20. Now uncle buy ambank at 4.50 drop a bit nvm hold. Wont chaplap la. Nta is rm 5.50. Now undervalue. Uncle buy n sapu n keep until rm 8 ..

Posted by UncleJ > 2017-08-29 19:19 | Report Abuse

Go read how warren buffet buy bank of america when ppl dunwan at a low price. Warren buffet buy at 5 usd now bank of america at usd 25. I use buffet sifu style. Come drop to rm 2. I buy ambbank. Haha
Drop buy more

Posted by meistsk3134 > 2017-08-29 23:26 | Report Abuse

walao... really deep drop now.. WTH

Posted by casanwk > 2017-08-30 07:07 | Report Abuse

@apanama
agreed with u, counter over done
wondering epf is done with selling?
(flushing out weak holders)

Posted by casanwk > 2017-08-30 09:22 | Report Abuse

buy@ 4.35

Posted by casanwk > 2017-08-30 09:44 | Report Abuse

momentum is still pretty good at this level

Posted by casanwk > 2017-08-30 10:24 | Report Abuse

guys
hold tight tight
i think epf is here to disturb(bull..y...)

Posted by lck1300 > 2017-08-30 15:20 | Report Abuse

all investment bank give TP so high but still drop nearly 52Week low , i'll buy if drop to 52w low

Posted by Beza > 2017-08-30 16:28 | Report Abuse

So you wanna buy at 3.90.

Posted by kf911 > 2017-08-30 16:36 | Report Abuse

last minute down again zzzzz

Posted by kf911 > 2017-08-30 16:39 | Report Abuse

red somemore lol

Posted by JadeSchira > 2017-08-30 16:47 | Report Abuse

LJ stock

Posted by kf911 > 2017-08-30 16:53 | Report Abuse

market up 0.7% but this one down 0.7% ==

Posted by BoomBoomChak > 2017-08-30 17:04 | Report Abuse

Investment bank will write lots good write up to try stop the slide in shares but it seems failure this time.

Posted by lck1300 > 2017-08-30 17:05 | Report Abuse

@Beza , if it can reach that point , i'll buy it , last time i buy is 4.25 and sell on 4.47