U.S. stocks on Wednesday climbed for a third session after U.S. industrial production rose more than projected, Yahoo's earnings topped estimates and Federal Reserve Chair Janet Yellen reiterated the central bank would keep up its backing of the recovery. Similarly, European shares closed higher as better-than-expected Chinese growth data and a slew of earnings releases buoyed sentiment.
On the local market, the FBM KLCI fell 8.51 points to 1845.37 points. Asian stocks are poised to rise today, tracking gains on Wall Street overnight. As such, we expect the index to be positive today with near term outlook maintained at sideways trend. Stocks to watch are: Aeon Credit Service and Zhulian Corp following their quarterly results announcement; LBS Bina as the Group is set to launch two more properties projects in Iskandar Malaysia; glove counters after Malaysian Rubber Glove Manufacturers Association said glove prices will see a hike due to the increase in natural gas prices; Tebrau Teguh and property stocks linked to Iskandar Malaysia after the Greenland Group, one of China's biggest state-owned companies is acquiring a prime waterfront land from Iskandar Waterfront Holdings Sdn Bhd (IWH) for RM600mil; and Kian Joo Can Factory after Datuk See Teow-Koon failed to get re-elected to the board.
16 April 2014
U.S. stocks turned higher Tuesday afternoon, with the Nasdaq making its largest rebound in five years, as investors weighed upbeat earnings from Dow components Coca-Cola and Johnson & Johnson. In contrast, European shares closed lower as Ukraine worries and fears about slowing demand in China weighed on stocks, along with disappointing data from the U.S.
On the local exchange, the FBM KLCI gained 2.35 points to 1853.88 points. Asian equity markets are headed for a mixed start on Wednesday ahead of China's first quarter GDP announcement at 10am. We expect the KLCI to remain sideways around 1850 points in absence of a catalyst to retest its resistance of 1882 points. Stocks in focus are: a) Time dotCom, as the group announced that it is participating in a consortium to build a new submarine cable system that will link Asia and Europe; b) Bina Puri, after the group has secured a construction job worth RM248m to build the Fishery Complex in Kuching; c) Kim Hin, following the group announced that it has posted a net profit instead of net loss for FY13 due to over provision of income tax; d) A&M, after the group’s major shareholders have placed out 5.5% stake in the company to few institutional investors.
15 April 2014
U.S. stocks advanced Monday, after the Nasdaq Composite briefly detoured into negative terrain, as investors embraced data that had U.S. retail sales jumping the most since 2012 while tracking tensions in Ukraine. Similarly, European shares recovered from earlier losses to close higher on Monday, after U.S. retail data surpassed estimates and strong earnings from Citigroup boosted stocks on Wall Street.
On the local exchange, the FBM KLCI fell 1.13 points to 1851.53 points. Asian equity markets are set to snap their two-day losing streak on Tuesday, tracking strong gains in U.S. shares overnight, after U.S. retail data surpassed estimates. As such, we expect the KLCI to remain sideways above 1850 points with a positive bias mode.
Stocks to watch are: a) Barakah, as the group has bagged a contract from GOM Resources for the provision of pipeline pre-commissioning services; b) BAT, as the group clarified that it supplies small amount of semi-finished goods to South Korea pursuant to the earlier legal suit against BAT in South Korea; c) Tenaga, after the group has signed a power purchase agreement with 1MDB Solar for the construction of a solar power plant in Kedah; d) Kulim, after the group’s subsidiary, E.A.Technique is seeking listing on Bursa Malaysia; and e) Eversendai, as the group said that it is bidding for RM2.5b worth of Rapid jobs.
14 April 2014
On the local market, the FBM KLCI fell 6.86 points to 1852.66 points. Following the bearish sentiment in the US, we expect the KLCI to be negative today with support at 1820 points. Stocks in action are: a) Suppliers of natural gas in light of Gas Malaysia, PetGas, and heavy users of natural gas such as rubber glove, steel and cement industries, after the government decided to increase natural gas tariff for non-power sector in Peninsular Malaysia with effect from May 1; b) Matrix Concepts, as the group has proposed 1-for-2 bonus issue; c) Tropicana Corp, after the Selangor UMNO lodged a report with the MACC in relation to land sales of Selangor government to the group; d) YTL Power, following the recent UK rule on the rate of return of companies.">U.S. stocks declined sharply for a second session Friday, with the Nasdaq Composite tallying its third weekly drop, after JPMorgan Chase posted disappointing earnings and Gap reported a decline in sales. Similarly, European shares closed lower to their first weekly loss in a month as disappointing earnings from JPMorgan added to the "risk-off" sentiment, and tech stocks slumped.
On the local market, the FBM KLCI fell 6.86 points to 1852.66 points. Following the bearish sentiment in the US, we expect the KLCI to be negative today with support at 1820 points. Stocks in action are: a) Suppliers of natural gas in light of Gas Malaysia, PetGas, and heavy users of natural gas such as rubber glove, steel and cement industries, after the government decided to increase natural gas tariff for non-power sector in Peninsular Malaysia with effect from May 1; b) Matrix Concepts, as the group has proposed 1-for-2 bonus issue; c) Tropicana Corp, after the Selangor UMNO lodged a report with the MACC in relation to land sales of Selangor government to the group; d) YTL Power, following the recent UK rule on the rate of return of companies.
|Unit Price As At: 16-04-2014|
|Apex Fund||NAV (RM)|
|Apex Dana Aslah||0|
|Apex Dana Al-Sofi-I||0|
|Apex Dana Al-Faiz-I||0|
|Apex Dana Al-Kanz||0|
|Apex Dynamic Fund**||0|
|Apex Asian (Ex Japan) Fund**||0|
|Apex Malaysia Growth Trust||0.3068|
|Apex Quantum Fund||0.2775|
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