12 Feb 2014 -BC Daily Trading Floor

Good morning traders    

Feb 12- Stocks To Watch Maxis, MHB, Hartalega, WCT, Astro, AirAsia X, GUH
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 coffee n breakfast time

Good morning Pak Cals and comrades    

WinningHeart wrote:Good morning Pak Cals and comrades    

morning morning.. a little off day for KLCI huh?  

Cals wrote:

WinningHeart wrote:Good morning Pak Cals and comrades    

morning morning.. a little off day for KLCI huh?  

after chiong too much need to digest a bit     

watching WCT ... chart Nampak sudah cantik ohh ... anyone?        

ok get ready market will suddenly VROOM

good morning cals and all the comrades...

WW wrote:good morning cals and all the comrades...

Morning     

wow ... MAYBULK     

genm ... go go go   

pnepco ...    

Economy

US: Job openings decreased in Dec as hiring slowed. Job openings in the US fell in Dec from an almost six-year high and hiring slowed, a sign the labor market cooled at the end of the year. The number of positions waiting to be filled declined by 43,000 to 3.99m, from a revised 4.03m the prior month. The report follows data last week that showed a smaller-than-projected gain in January payrolls after a weather- depressed December, marking the weakest back-to-back advance in three years. Faster hiring would help spur the wage growth needed to boost the consumer spending that accounts for almost 70% of the economy. (Bloomberg)

US: Yellen pledges continuity with gradual tapering of QE. Federal Reserve Chairman Janet Yellen pledged to maintain her predecessor’s policies by scaling back stimulus in “measured steps” and signaled that the bar is high for a change in that plan. Only a “notable change in the outlook” for the economy would prompt policy makers to slow the pace of tapering. (Bloomberg)

US: House votes to increase debt limit without conditions. The Republican-controlled House of Representatives has voted to increase US borrowings after John Boehner, bucked conservatives in his party and declared he would not attach any conditions to lifting the debt ceiling. The Senate is now expected to pass the bill later this week, sparing the US another of the bitter, partisan stand-offs that have characterized budget battles under the Obama administration and helped drain economic confidence. The conservative revolt meant Mr. Boehner had to rely on Democratic votes to get the measure through. The bill to extend borrowings until March next year passed by 221 to 201, with just 28 Republicans voting yes. (Financial Times)

EU: France risks “serious blow” to financial creditability. France is in danger of missing its deficit reduction targets, risking a “serious blow” to the country’s financial credibility. In a sobering counter to President Francois Hollande’s latest pledge to cut France’s big public spending and tax bill, the Cour des Comptes called on the Socialist government to make a bigger effort to reverse the rise in public debt, set to top 95% of national income this year. France’s debt level was in the “danger zone”, adding that a 1% point rise in interest rates would add €2bn a year to an annual interest charge already running at €52bn. There was a “significant risk” that the revised 2013 target of 4.1% of GDP had been missed and this year’s 3.6% objective was not at this point guaranteed, mainly due to lower-than forecast tax receipts. (Financial Times)

Malaysia: Growth pace may have cooled, but export upturns supports. Rebounding exports, helped by a weakened currency and brighter global demand, likely kept Malaysia’s economic growth steady in the last three months of 2013, making up a for a tail-off in domestic demand as the government tightens fiscal policy. After a weak first half, the export demand picked up towards the end of the year as a global recovery raised demand for the Southeast Asian exporter’s key shipments of electronics and petroleum products. Fourth-quarter GDP, due on Wed afternoon, was forecast to grow about 4.8% from a year earlier. Full-year growth was seen at 4.6%, down from 5.6% in 2012. (Reuters)

Malaysia: Malaysian banks vulnerable. Standard & Poor’s Rating Services expects banks in most Southeast Asian countries to face tougher operating conditions in 2014 because of lower economic growth prospects and tighter credit conditions. It said that household indebtedness in Singapore, Thailand and Malaysia has been increasing since 2008, leaving these banking systems vulnerable to rising interest rates. The US Federal Reserve’s tapering of its bond-purchase programme could lead to higher interest rates and asset quality pressure. It expects Malaysia banks to brace for a tougher year in the household sector due to modest income and economic imbalances from higher property prices that could strain households’ debt servicing capacity when credit cycle turns. (SunBiz)
Markets

Astro (Outperform, TP: RM3.27): In JV with South Korea's GS Home Shopping. Astro Malaysia Holdings is venturing into the home shopping business in Malaysia via a joint venture with South Korea's GS Home Shopping Inc. Its unit Astro Retail Ventures SB had inked a shareholders agreement with GS Home to set up a JV company Astro GS Shop SB. Astro GS Shop intends to carry out home shopping business through various platforms including but not limited to TV home shopping, Internet shopping and mobile shopping. (StarBiz)

WCT: Earnings from investment and management to double. With the number of shopping malls and hotels expanding under its belt, WCT Holdings Bhd expects earnings from its investment and management segment to grow 30% to 35% in 2018 from 15% currently. Speaking to reporters after the company’s EGM yesterday, WCT’s director Kenny Wong said that would strengthen its recurring income as the construction sector was considered cyclical. (StarBiz)

AmFIRST REIT: Q3 earnings rise 3.8% to RM12.7m. AmFIRST REIT posted a 3.8% improvement in earnings to RM12.67m from RM12.2m in the third quarter ending Dec 31, as revenue inched up 1.9% to RM28.2m from RM27.7m a year earlier. AmFIRST’s earnings in the three quarters so far stood at RM38m – up 11.5% from the RM34.1m it achieved in the same period the year before. This was on year-to-date revenue that was up 4.1% to RM84.5m from RM81.1m. According to the trust, the improved results were mainly down to the additional contribution from Kompleks Tun Sri Lanang (also known as Jaya 99, in Malacca) which was acquired on Nov 1, 2012. (StarBiz)

Land & General: To launch RM788.7m project by Dec. Land & General expects to launch its latest property development project comprising four blocks of serviced apartments by as early as Dec. The proposed development in Jalan Ampang, Kuala Lumpur, got the green light from minority shareholders in an extraordinary general meeting (EGM), here, yesterday, said managing director Low Gay Teck. He said the estimated gross development value for the project is RM788.7m with a gross development cost of about RM558.4m, giving the company an estimated profit of RM230.3m. (Business Times)

SapuraKencana: Upbeat after Newfield acquisition. SapuraKencana Petroleum is bracing for "exciting next few years" after completing the USD895.9m (RM2.9bn) acquisition of Newfield International Holdings Inc's assets in Malaysia. SapuraKencana has identified upstream business as a growth area with its participation in the Berantai RSC (risk service contract) signalling its entry into the segment, president and group CEO Tan Sri Shahril Shamsuddin said. (Business Times)

IPO: 7-Eleven gets SC approval for re-entry into Bursa Malaysia. The Securities Commission (SC) has approved the listing of convenience chain outlet 7-Eleven Malaysia Holdings, paving the way for its re-entry into Bursa Malaysia. Sources said the approval came about on the back of lower valuations accorded to the country’s largest operator of 24-hour convenience stores. “The lower valuations came about due to higher disclosure standards that the SC imposed on the company for the benefit of potential investors. “In the prospectus, the company would make more apparent certain facts such as declining same-store-sales,” a source said. (StarBiz)
MARKET UPDATE

US equities found springs in their steps, with both benchmark indices rising sharply overnight on a combination of seemingly positive developments. Janet Yellen’s maiden testimony to the US Congress as new Federal Reserve Chair fuelled belief that the economy was strong enough to withstand further stimulus cuts. While economic growth has strengthened and that there was “broad improvement” in the labor market, she reaffirmed commitment to maintaining the Fed’s dual mandates of returning the country to full employment and bringing up inflation levels to 2%. Additionally, the US House of Representatives also voted to suspend the country’s debt limit until March 2015, blowing away concerns that the government would default on its debt obligations or renege on its various expenditures as and when it exhausts its coffers again. While positive in the shorter term, such unbridled spending cannot be good for the future, what with the government having borrowed and spent >USD7tln over the last 6-7 years. For the day however, the Dow Jones Industrial Average and S&P 500 rose 1.2% and 1.1% respectively.

In earlier trade, European stocks moved ahead in anticipation of the positive developments in the US, led by Germany’s benchmark DAX which rallied 2.0%. UK, France, Spain and Italy’s indices rose 1.2%, 1.1%, 1.1% and 1.0% respectively.

And in even earlier trade, almost all Asian markets closed the day higher as investors bet on the Fed remaining dovish considering the recent weakness in US employment numbers. Amongst the major benchmarks, Hong and China’s indices gained 1.8% and 0.8%. Singapore and Malaysia’s rose 0.4%. Coincidentally, so did Thailand and Indonesia’s.

Significant market-moving announcements were scant overnight, with shareholding changes and on-going result reporting dominating headlines. The latter was not encouraging however, with Malaysia Marine Heavy Engineering recording only a 2.0% year-on-year (YoY) rise in its 4Q13 net profit to RM102.0m, Maxis reporting a 23.3% decline in its 4Q13 net profit to RM290.0m (exacerbated by one-off charges) while Hartalega Holdings saw its 3Q14 net profit slipping 4.0% to RM57.9m. It’ll be interesting to see what the country’s 4Q13 GDP is when announced by Bank Negara Malaysia a little later today against this slightly weaker backdrop

Source: PublicInvest Research - 12 Feb 2014

happy trading all ...   

iris breakout

watching DIALOG now ...     

tomorrow - iris, eduspec

nitezshiro wrote:tomorrow - iris, eduspec

Goreng style play     

close of session 

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