28Jun
BURSA1

HSBC survey : More than half of Malaysian parents willing to go into debt for kids’ education

KUALA LUMPUR:

  • More than 50% of Malaysian parents are willing to go into debt to fund their child’s education, on top of the fact that 80% of them are funding their child’s education from day-to-day income, a HSBC survey revealed.
  • HSBC Bank Malaysia Bhd retail banking and wealth management country head Lim Eng Seong said 92% of local parents were funding their child’s education.
  • He added they were willing to make sacrifices and risk their own financial security as compared to 60% at the global level.
  • “Many parents think that funding a child’s education is more important than their other fiancial commitments like credit card repayment, insurance and contribution to retirement savings,” he said.
  • He was speaking to reporters after releasing the Foundations for the Future, the latest report in HSBC’s “The Value of Education” series.
  • Asked on allocation for education, Lim said the percentage of allocation that should be set aside should be 10% and 15% of the salary.

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28Jun
BURSA1

OCK secures US$40.2mil financing for Myanmar telco project

KUALA LUMPUR:

  • OCK Group Bhd, which in December inked a deal with Telenor Myanmar Ltd to build 920 telecommunications towers in Myanmar, has clinched a syndicated term loan facility of up to US$40.2mil (RM163.9mil) for the project.
  • The telecommunications network service provider said in a statement that its unit OCK Yangon Pte Ltd had signed the agreement for the facility in Yangon with four Myanmar incorporated banks — OCBC Bank Yangon branch, Malayan Banking Bhd Yangon branch, United Overseas Bank Ltd Yangon branch and Bangkok Bank Public Co Ltd Yangon branch.
  • OCBC Bank is one of the joint mandated lead arrangers as well as the facility agent and offshore security agent for the US$40.2mil syndicated loan facility.
  • “The syndicated facility is one of the largest syndicated loans by onshore foreign banks since the Myanmar financial sector was opened to foreign banks in 2015,” OCK said.
  • It was reported that OCK planned to invest about US$75mil (RM305.6mil) to deliver the 920 telecommunications towers to Teleno this year under a long-term “build and lease” business model.
  • OCK group managing director Sam Ooi said the financing received from the banks was a testimony of their confidence in the company’s telecommunication tower business.

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28Jun
BURSA

RHB Bank ends first day on firm note, KLCI and key markets advance

KUALA LUMPUR:

  • RHB Bank ended its first trading day on a firm note on Tuesday as overall market sentiment improved in line with Asian and European markets while crude oil rebounded and the ringgit strengthened against the major currencies.
  • Nomura said it saw reasonably good buying opportunity for Malaysia and upgraded the country to overweight.
  • At 5pm, the FBM KLCI was up 4.52 points or 0.28% to 1,634.04. Turnover was 1.47 billion shares valued at RM1.61bil. Advancers beat decliners two to one or 528 gainers to 268 losers and 323 counters were unchanged.
  • Against the weakening pound sterling, the ringgit was up 0.78% to 5.4213 from 5.4642 which has been battered since last Friday.  It firmed up against the US dollar to 4.0773 from 4.0995 and advanced against the Singapore dollar to 3.0059 from 3.0228. It also rose against the euro to 4.5047 from 4.5291.
  • Meanwhile, Reuters reported oil prices rose above US$48 a barrel on Tuesday as investors took advantage of a two-day slide in crude following Britain’s vote to leave the European Union to lock in lower prices. Brent crude futures rose US$1.08 to US$48.24 per barrel while US light crude futures added US$1.06 to US$47.39 a barrel.

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28Jun
BURSA1

Tanjung Aru Beach to begin transformation next year

KOTA KINABALU:

  • The Tanjung Aru beach here will begin its transformation to turn into a 348ha eco-friendly integrated waterfront next year.
  • Project management company, Savills Development, will begin the first of four-phase Tanjung Aru Eco Development (TAED) in the first quarter of next year and the entire project is expected to be completed end-2019.
  • Project director Peter Adam said the development would entail the revitalisation of the 1.35km Tanjung Aru beach as well as the rejuvenation of Prince Philip Park.
  • “This will be supported by improved infrastructure and facilities to provide greater connectivity and accessibility for the public to these key attractions,” he said at a media briefing hin Kota Kinabalu on Tuesday.

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28Jun
gold-bars

Comex Trading Signals and Market News – 28 June 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices rose on Monday, re-approaching the two-year peaks hit on Friday after a shock U.K. vote to exit the European Union sent investors scrambling into bullion and other safe haven assets.U.S. gold futures for August delivery were up 0.5% at $1,329.0 an ounce by 0957 GMT.
  • Oil prices steadied on Monday as market participants better absorbed the shock of last week’s vote in Great Britain to leave the European Union and as analysts said Brexit would have a limited impact on global fuel demand. Brent crude futures were up 17 cents at $48.58 a barrel by 0844 GMT.
  • Zinc futures fell during late morning trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further fears that UK’s decision to leave the EU may deal a further blow to an already fragile global economic recovery signaled uncertain metal demand and hit zinc.

ECONOMY NEWS :

  • Japan’s chief cabinet secretary, Yoshihide Suga, said on Tuesday the government would continue to carefully watch currency markets, where “extremely nervous moves” are seen.Suga made the comment in a regular news conference, when asked about market developments after Britain’s vote on Friday to leave the European Union.
  • The dollar and yen steadied and sterling crawled away from a 31-year low on Tuesday as risk aversion triggered by the shock of Brexit eased slightly, although many investors were still wary of calling a bottom for the battered pound. The euro was little changed at $1.1042 , having put a bit of distance from Friday’s three-month low of $1.0912. The pair was confined between $1.1054-1.1010, its narrowest intraday range in nearly three weeks.
  • The European Central Bank’s president Mario Draghi expressed “sadness” on Monday at Britain’s vote to leave the European Union.In his first comments on the result of last Thursday’s referendum, Draghi said: “Sadness is the best word for what we feel when we witness changes of this magnitude.”

TRADING STRATEGY :

  • BUY GOLD ABOVE 1336 TARGET 1341 1347 SL BELOW 1331
  • SELL GOLD BELOW 1323 TARGET 1318 1312 SL ABOVE 1328

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

28Jun
forex-trading-tips

IForex Market Trading Signals and News – 28 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Sterling falls further in wake of Brexit, euro also weaker
  • Forex – Kiwi, Aussie decline vs. greenback, Brexit vote still weighs
  • Forex – Pound holds weakness in Asia as Japan, China vow support

EUR/USD
EUR/USD is currently trading with a bearish bias. During the previous trading day on 24th June 2016, Euro reacted negatively to Brexit, headed short and and may head further to the lower side. During this intraday, we are very reluctant to go long, instead, we will only be interested in signals giving sell opportunities. This pair should be traded alongside NZD/ USD, AUD/USD, and GBP/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

GBP/USD
The pound came under renewed selling pressure on Monday, falling back towards a 31- year trough after the U.K. voted to leave the European Union on Friday, triggering a massive selloff in global markets.GBP/USD was last down 1.83% at 1.3427, after falling as low as 1.3356 overnight, not far from the lows of 1.3228 set on Friday, the weakest since 1985.U.K. Finance Minister George Osborne said Monday the vote to leave the EU was likely to lead to further volatility in financial markets but claimed that the economy is as strong as it could be to face the challenges ahead.Sterling has tumbled amid fears that the decision could hit investment in the U.K. economy, threaten London’s role as a global financial capital and trigger months of political uncertainty after British Prime Minster David Cameron resigned on Friday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3480 TGT 1.3500 1.3530 SL 1.3450
  • SELL GBP/USD BELOW 1.3220 TGT 1.3200 1.3170 SL 1.3250

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28Jun
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 28 June 2016

MARKET UPDATES :

  • The FBM KLCI index lost 4.53 points or 0.28% on Monday. The Finance Index fell 0.46% to 14010.07 points, the Properties Index dropped 0.70% to 1120.04 points and the Plantation Index rose 0.19% to 7553.26 points. The market traded within a range of 13.78 points between an intra-day high of 1632.03 and a low of 1618.25 during the session.
  • Actively traded stocks include VIVOCOM, MBSB-OR, ARMADA, LKL, KNM, BORNOIL, VIVOCOM- WB, TRIVE, CIMB and SANICHI. Trading volume decreased to 1267.59 mil shares worth RM1296.40 mil as compared to Friday’s 2227.16 mil shares worth RM2356.90 mil.
  • Leading Movers were GENTING (+10 sen to RM7.98), PETCHEM (+6 sen to RM6.50), PETGAS (+18 sen to RM21.78), ASTRO (+2 sen to RM2.80) and IOICORP (+2 sen to RM4.36). Lagging Movers were IHH (-20 sen to RM6.50), SKPETRO (-3 sen to RM1.32), HAPSENG (-15 sen to RM7.60), CIMB (-8 sen to RM4.23) and DIGI (-6 sen to RM4.74). Market breadth was negative with 295 gainers as compared to 457 losers.
  • The KLCI started the week on a negative note, closed lower at 1629.52 points amid losses in Wall Street on last Friday after Britain voted to exit the European Union. The performance of our local bourse was bogged down by selling interest in heavy weight counters such as SapuraKencana and Digi.

STOCK RECOMMENDATION :

  • BUY TADMAX ABOVE 0.405 TGT 0.420 0.435 SL 0.390

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27Jun
BURSA1

British stocks and pound continue to slide after Brexit vote

LONDON:

  • The British stock market and the pound fell in value in early trading Monday even as Britain’s finance minister insisted that the government was “equipped for whatever happens” as a result of last week’s shock public vote to withdraw from the European Union.
  • Reuters reported that within a couple hours of opening Monday morning, the London stock exchange dropped by about 1%, and the pound was down against the dollar by a similar amount. But the declines were less than some had expected and did not approach the lows hit last Friday in the hours after the official result was declared in the referendum on Britain’s E.U. membership. The British pound is now at one of its lowest levels against the dollar in decades.
  • Media and entertainment stocks continued to slide, though nowhere near as dramatically as their heavy losses last Friday. Share prices of ITV and Sky were down, as were those of Vivendi in France, ProSiebenStat in Germany and Mediaset in Italy.
  • Meanwhile, Financial Times reported RBS and Barclays saw their shares briefly suspended this morning as another nervy day of trading grips investors in the aftermath of the country’s Brexit vote.
  • When FTSE 100 stocks move more than 8% from their opening price, an automatic circuit breaker kicks in suspending continuous trading, FT added.

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27Jun
BURSA

Brexit means trade and tourism suffer most in some EU nations

NEW YORK:

  • The EU’s remaining 27 members will have to weigh their own potential losses after the UK voted for Brexit, with a few countries in particular facing much greater stakes.
  • This group includes two Mediterranean holiday spots (Malta and Cyprus), a next-door neighbour (Ireland) as well as countries whose job-seeking citizens have been attracted to the UK labour market in recent years (Poland and Lithuania). These countries heavily rely on the UK both in terms of trade and tourism.
  • The UK’s trade with the EU, which according to the IMF was worth over US$500bil in 2015, will likely be the single-most important issue as it prepares to negotiate its exit.
  • While they could decide to follow the example set by Switzerland and Norway and opt for membership in the European Free Trade Association, required payments into the EU budget may prove a sticking point for Eurosceptic British lawmakers. Even so, the sheer scale of bilateral trade with the likes of Germany (US$137bil last year) and the Netherlands (US$73bil) means there will be a lot of pressure to find common ground in terms of trade.
  • When considering which EU countries have the most to lose on a relative basis, Germany is closer to the middle of the pack, with the UK representing 5.8% of its global trade flows. It’s a bigger deal for the likes of Belgium (closer to 7%), Cyprus (almost 8%), and neighbouring Ireland (18.6%), which ranked first in the recently-published S&P’s Brexit Sensitivity Index.

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27Jun
MYR2

Ringgit, Rupiah extend declines as Brexit spurs haven demand

KUALA LUMPUR:

  • Indonesia’s rupiah and the Malaysian ringgit led a drop in Asian currencies as the U.K.’s vote to leave the European Union deepened concern about the global economy, driving down crude oil prices and spurring demand for haven assets.
  • The rupiah sank 0.8 percent to 13,485 per dollar as of 9:12 a.m. in Jakarta, the biggest loss since May 19 and adding to a 0.9 percent decline on Friday, according to prices from local banks.
  • The ringgit slumped as much as 1.8 percent to 4.1663 per dollar, the lowest since June 2, and recently was at 4.1235. However, the ringgit rose against the weakening pound and it was up 3.14% to 5.5205 from the previous close of 5.6994.
  • Markets will be driven by “money flight from emerging markets as a result of stronger investor conviction to shift into risk-off mode,” said Angus Salim Amran, Kuala Lumpur-based head of financial markets at RHB Investment Bank Bhd. “Downward pressure on commodity and oil prices – a breach of key $50 oil price resistance now remote — will lead to continuing weakness in emerging market Asian currencies.”
  • The next near-term level for the ringgit is 4.15 followed by 4.1718, based on the 200-day moving average, said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group Ltd. in Singapore.
  • Malaysia’s benchmark equities index retreated 0.9 percent while the Jakarta Stock Exchange Composite Index slid 0.7 percent.

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