26May

CPO FUTURES DAILY PREVIEW May 26, 2017

Fundamental


The global benchmark for CPO  rebounded from a 3-month low on Thursday, supported by reports of firm exports for the first 25 days of May and improved performance in rival soyoil futures in Chicago. Market sentiment turned cheerful, after 3 straight sessions of declines, following the release of Malaysian palm shipments from closely watched ITS and SGS 1- 25 day export numbers.

For the period leading up to 25th May, cargo surveyors, ITS and SGS recorded a month-on-month increase in shipments by 16.2% and 12.9% respectively. In external markets, crude oil tumbled 5% on disappointing output cuts by OPEC and other producing nations of 1.8 million barrels per day until the end of 1Q18. Meanwhile, Chicago’s soyoil futures contract reversed earlier gains to trade 0.7% lower overnight, tracking a slump in crude oil prices. As such, expect palm to trade lower today on weakness emanating from lower crude oil prices, which may plague edible oil markets ahead of the weekend.

 

fcpo-weekly

 

 

Technicals


Futures for August delivery gained 24 points at the close of Thursday, as prices settled at MYR2,607. Successful settlement of prices above 2,600 would seem to indicate some strength in the tropical oil albeit a power struggle between the bulls and the bears around 2,600 levels. On the daily chart, prices formed a short bodied white candlestick with a short upper shadow and a longer bottom. A “Downside Tasuki Gap” had formed and is suggestive of a further downtrend in CPO prices. Taking cues from a plunge in crude oil markets, BMDs benchmark 3rd month contract is expected to open lower and trade on a weaker note with support and resistance is eyed at 2,560 and 2,620 respectively.

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22May

Magnum Bhd’s share price fell on 22 May 2017

Magnum Bhd’s share price fell to multi-year low of RM1.81 early Monday after it reported a set of weaker financial results in the first quarter ended March 31, 2017 and also after it was slapped with a hefty taxes. At 9.14am, it was trading at RM1.87, down 23 sen with 4.80 million shares done.


However, the FBM KLCI rose 5.4 points or 0.31% to 1,773.68. Turnover was 416.52 million shares valued at RM183.31mil. There were 350 gainers, 106 losers and 265 counters unchanged.

Magnum Bhd’s share price fell

Magnum Bhd’s share price fall

 

CIMB Equities Research downgraded Magnum from Hold to Reduce with a lower dividend discount model based target price of RM1.85. The reduction followed its cut in its earnings per share and dividend per share for Magnum, which is involved numbers forecast operations, as the near-term downside risks outweigh its dividend yield appeal. Also weighing on the share price was on news that Magnum and its unit Magnum Holdings Sdn Bhd (MHSB) had received respective notices of assessment from the Inland Revenue Board of Malaysia (IRB) for the years of 2008, 2011-2015 (Magnum) and 2008-2013 (MHSB), totalling RM476.4mil.

 

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8May

Asian Shares Picked Up On Monday 8 May 2017

The Euro hit a six-month high against the dollar on Monday while Asian shares picked up and U.S. stock fates quickly touched a record high, on speculator help after moderate Emmanuel Macron serenely won the French presidential race. The normal money surrendered increases later, with some market members refering to instabilities on whether his new gathering, rebranded La Republique En Marche, can get a parliamentary larger part in decisions in June.

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Asian Shares Euro rose against the Dollar on Monday 8 May 2017

The anti-extremist’s determined triumph conveyed solace to financial specialists and European partners alike, who had been apprehensive about the danger of another populist change, taking after Britain’s vote to stop the EU and Donald Trump’s race as U.S. president – neither of which had been anticipated by surveyors or bookmakers.

  • The euro rose to as high as $1.1024, its most astounding in around six months, before venturing back to $1.0973, 0.2 percent beneath late U.S. levels a week ago.
  • Prior the basic money hit a one-year high of 124.58 yen and a five-month high of 1.08865 Swiss franc. MSCI’s broadest file of Asia-Pacific shares outside Japan included 0.3 percent, snapping a three-day losing streak.
  • Japan’s Nikkei increased 1.7 percent to hit a close to 1/2-year high following a five-day end of the week because of the Golden Week occasions.
  • The S&P 500 little prospects increased 0.2 percent to hit a record high of 2,403.75 in early exchange before surrendering the additions to exchange level.

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The ringgit rose at the opening against the US Dollar today on positive spillover from the French presidential election, where Emmanuel Macron clinched victory over Marine Le Pen. The ringgit was quoted at 4.3330/3360 against the greenback from 4.3350/3400 on Friday.

The ringgit was traded mixed against most major currencies.

  • It rose against the Singapore dollar to 3.0814/0846 from 3.0856/0896 and was higher against the Japanese yen at 3.8403/8440 from 3.8616/8671 on Friday.
  • The ringgit declined against the British pound to 5.6121/6186 from 5.6052/6129 and trimmed against the euro to 4.7529/7579 from 4.7490/7562 previously.

 

 

25Apr

Malaysian Ringgit goes higher against US$ on Tuesday

The ringgit opened higher against the US dollar today as the greenback facilitated against the significant monetary forms on the back of good faith on the euro taking after the first round aftereffect of French race.

At 9.13 am(0113gmt) Tuesday, the ringgit stood at 4.3890/3920 against the greenback from 4.3980/3000 enlisted at 6pm on Friday. (Monday was an occasion in Malaysia) A merchant said speculators” estimation towards the ringgit additionally enhanced as the intrigue moved far from the greenback

 

ringgit / us$

The ringgit stood at 4.3890/3920

 

The ringgit reinforced against the British pound to 5.6083/6139 from 5.6259/6298 on Friday. It, be that as it may, slipped against the euro to 4.7651/7702 from 4.7076/7111 already.

21Apr

Malaysia Stock Market 21 April 2017

The Malaysia Stock Market news for 21 April 2107

The FBM KLCI list increased 2.66 focuses or 0.15% on Thursday. The Finance Index expanded 0.61%to 15777.28 focuses, the Properties Index up 0.12% to 1298.61 focuses and the Plantation Index rose 0.15% to 8003.55 focuses. The market exchanged inside a scope of 7.16 focuses between an intraday high of 1743.56 and a low of 1736.40 amid the session.

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Effectively exchanged stocks incorporate KGROUP, REACH-WA, ANZO, DNEX-WD, MUIIND, PWORTH, L&GOR,BORNOIL, IRIS and SEACERA-WA. Exchanging volume diminished to 2644.16 mil offers worth RM2240.56 mil when contrasted with Wednesday’s 2854.51 mil offers worth RM2186.88 mil.Driving Movers were RHB BANK (+16 sen to RM5.28), AMMB (+10 sen to RM5.03), ASTRO (+5 sen to RM2.73), WPRTS (+5 sen to RM4.04) and IJM (+3 sen to RM3.49). Slacking Movers were PETGAS (- 36 sen to RM18.34), GENM (- 6 sen to RM5.59), PETCHEM (- 6 sen to RM7.52), MAXIS (- 5 sen to RM6.39) and YTL (- 1 sen to RM1.47). Advertise broadness was certain with 498 gainers as contrasted with 368 washouts.

The KLCI recaptured its ground and shut higher at 1741.61 focuses in spite of blended execution in Money Street. The execution of our benchmark list was lifted by purchasing enthusiasm for overwhelming weight counters, for example, Ambank, Westports and Astro.

20Apr

US dollar bounced back oil fell 6 weeks to the biggest decline

The US dollar bounced back firmly on Wednesday as gold hit its greatest drop in a month and a half, and oil costs likewise recorded the greatest drop since March 8, as fuel inventories increased.The dollar ascended against significant monetary standards and composed the greatest picks up in the month. The DXY dollar file rose 0.31 percent to 99.81, as per the Economic Daily.USDJPY rose 0.41% against the yen, up 0.19% against the euro.

 

stock-counters

This is principally because of the market for the United States to raise loan costs is relied upon to cool, and financial specialists stressed that US President Trump to respect the capacity to fortify monetary measures.

Investigators brought up that the dollar fell as of late in light of the fact that the information is not of course, and the market stressed over the Trump government to advance assessment change and money related change limit. US Treasury Secretary Timothy Nicholas has said that Trump has not attempted to smother the dollar swapping scale.

Wednesday, the New York Mercantile Exchange in June gold prospects fell 0.8%, the settlement cost of $ 1283.40 an ounce (around 5649 ringgit), the most noteworthy since March 2, the greatest decay.

Likewise, as indicated by the US Energy Information Administration (EIA) report, US gas inventories expanded 1.5 million barrels to 2.377 million barrels, US unrefined petroleum creation expanded by 1.7 million barrels to 9.3 million barrels, is the largest amount since August 2015.

New York Mercantile Exchange US benchmark West German Intermediate Crude (WTI) May conveyance value fell $ 1.97 (around 8.67 ringgit) or 3.8 percent to $ 50.44 a barrel ($ 222). The biggest decrease since March 8.

North Sea Brent rough cut costs fell $ 1.96 ($ 8.6) or 3.6% to $ 52.93 a barrel (about $ 233) a barrel in June, and furthermore shut the most reduced since March 31.

Notwithstanding, toward the beginning of today the decrease has been steadily recouped, oil costs additionally bounced back marginally.

20Apr
Ringgit bring down against US$ early Thursday

Ringgit bring down against US$ early Thursday- Epic Research

The ringgit was lower against the US dollar early Thursday on powerless request taking after the arrival of the nation’s’ Consumer Price Index (CPI), the most noteworthy in eight years.

At 9.05 am(0105gmt), the ringgit remained at 4.4015/4045 against the greenback from 4.3985/3015 enrolled at 6pm Wednesday.

The Department of Statistics yesterday reported that the CPI, a measure of expansion, rose by 5.1 for each penny in March 2017 to 119.6, inferable from the low base a year ago and higher fuel retail costs contrasted with March 2016.

In any case, a merchant stated, the ringgit could even now pick up against the greenback later today taking after the arrival of feeble US lodging information.

“This ominously information recommended a weaker financial development for the United States in the primary quarter and will lessen prospects of a Federal Reserve loan cost increment in June,” he said.

In the interim, the ringgit was exchanged for the most part lower against real monetary forms, with the exception of against the British pound, whereby it rose to 5.6251/6303 from 5.6424/6489, Wednesday.

The nearby note fell against the Singapore dollar to 3.1469/1497 from 3.1465/1505 on Wednesday.

It was lower against the yen at 4.0407/0438 from 4.0372/0403 yesterday and debilitated against the euro to 4.7162/7199 from 4.7152/7197 already.

12Apr

BURSA STOCK NEWS APRIL 2017

TOP 5 Traded

TOP 5 Traded

YTLPOWER

forming bolinger band squeeze?

Will it retest support level ?

Other indicator:-
MACD at positive region, uptrend sign.
Stochastic %K on SELL call itinerary.

Immediate resistance @ RM1.54 level
Subsequent resistance @ RM1.57 level.

Immediate support @ RM1.47 level.
Subsequent support @ RM1.41 level.

If able breakout RM1.54, higher is confirm. Uptrend will resume.

11Apr

Political uncertainty in Syria caused high steady Oil Prices

Oil price were firm on Monday, supported by solid request and political vulnerability in Syria, albeit another ascent in US penetrating action kept a top on additions.

Brent rough prospects, the global benchmark for oil, were at US$55.39 per barrel at 0109 GMT, up 15 pennies, or 0.3 for each penny, from their last close.

US West Texas Intermediate (WTI) unrefined prospects were up 24 pennies, or 0.5 for every penny, at US$52.48 a barrel.

Dealers said costs were being bolstered by solid request, and furthermore political vulnerability taking after the US rocket air strikes on Syria toward the end of last week.oil rig Aug2016.png

ANZ bank said on Monday that solid oil request and “an unsettled worldwide background (is) leaving the market finely adjusted.”

Notwithstanding, another expansion in US oil boring, which has keep running up for 12 straight weeks to 672 apparatuses – the most abnormal amount since August 2015, shielded markets from breaking a week ago’s one-month highs of over US$56 per barrel.

US bank Goldman Sachs said taking after the apparatus information discharge that year-on-year US oil creation “would ascend by 215,000 barrels for every day in 2017″ once an excess of generation holding up to be brought back online was considered.

4Apr

Gold expands on increases to achieve 1-week high

Gold costs solidified in European trading on Tuesday, developing additions into a third session as financial specialists turned their consideration regarding U.S. exchange information in front of President Donald Trump’s meeting with Chinese President Xi Jinping.

Comex gold prospects rose $5.80, or around 0.5%, to $1,259.80 a troy ounce by 2:55AM ET (06:55GMT), in the wake of hitting an overnight high of $1,260.15, its most grounded level in seven days. In the mean time, spot gold was up $4.20 at $1,257.80.

Costs of the yellow metal finished picked up $2.80 on Monday as financial specialists parsed through blended assembling information and weaker-than-anticipated car deals numbers.

Additionally on the Comex, silver future for May conveyance attached on 15.0 pennies, or around 0.8%, to $18.36 a troy ounce. It achieved its most elevated since March 2 at $18.37 prior.

The U.S. exchange shortfall information is planned for discharge Tuesday at 8:30 AM ET. Financial experts anticipate that it will have limited in February to $44.8 billion from a five-year high of $48.5 billion a month prior.

 

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Primary concentration for business sectors this week fixates on President Donald Trump’s initially meeting with Chinese partner Xi Jinping on Thursday and Friday.

The U.S. dollar list was at 100.44 in London morning exchange, keeping separation from a week ago’s four-and-a-half month low of 98.67.

Showcase specialists don’t anticipate that the Federal Reserve will raise financing costs again until June. Fates merchants are valuing in around a half shot of a climb at the Fed’s June meeting, as indicated by Investing.com’s Fed Rate Monitor Tool. Chances of a September increment was seen at around 75%.

The valuable metal is touchy to moves in U.S. rates, which lift the open door cost of holding non-yielding resources, for example, bullion. A steady way to higher rates is viewed as to a lesser degree a risk to gold costs than a quick arrangement of increments.

Somewhere else in metals exchanging, platinum attached on 0.1% to $959.40, while palladium added 0.2% to $804.20 an ounce.

May copper futures ticked down 0.3 pennies to $2.600 a pound.

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