Malaysia Daily, Maybank KE (2015-04-17)

Daily 17 April 2015 Technicals Range bound, albeit with an upward bias The FBMKLCI advanced 7.81 points to 1,847.94 yesterday, while the FBMEMAS and FBM100 also closed higher by 64.24 points and 61.80 points, respectively. We recommend a �Nibble on Dips� stance for the index. Trading idea is a Short-Term Buy on GTRONIC with upside target areas at MYR6.30 & MYR7.00. Stop loss is at MYR5.44. Click here for full report » Outside Malaysia U.S: Jobless claims hold below 300,000 for sixth week. The Labor Department report showed jobless claims increased by 12,000 to 294,000 in the week ended April 11. (Source: Bloomberg) U.S: Small home starts gain shows lack of U.S. construction vigor. Housing starts rose less than forecast in March from the weakest pace in more than a year, underscoring a lack of vigor in homebuilding that held back the U.S. economy. Work began on 926,000 houses at an annualized rate, up 2% from February when bad winter weather prompted a 15.3% plunge, figures from the Commerce Department in Washington showed. Starts were less than the most pessimistic estimate in a Bloomberg survey of economists and reflected slowdowns in the West and South. (Source: Bloomberg) Asia: Rush to China's bank pushes U.S., Japan to speed trade talks. China's success in lining up 57 countries for a new infrastructure bank is piling pressure on the U.S. and Japan to advance a Pacific trade deal seen as critical for the allies to remain a center of gravity in Asia. U.S. and Japan negotiators huddled in Tokyo this week, aiming to reach agreement on their portion of the 12-member Trans Pacific Partnership before Prime Minister Shinzo Abe meets President Barack Obama late this month. TPP's prospective members, which don�t include China, have missed a series of deadlines since the U.S. announced its participation in 2009. (Source: Bloomberg) Australia: Jobless rate unexpectedly fell in March. Unemployment dropped to 6.1% from a revised 6.2% in February, as the number of people employed rose 37,700, the statistics bureau said. (Source: Bloomberg)     Key Indices Value YTD (%) Daily (%) KLCI 1,847.9 (1.0) 0.5 JCI 5,420.7 26.8 0.0 STI 3,531.6 11.5 0.3 SET 1,570.0 20.9 1.4 HSI 27,739.7 19.0 0.6 KOSPI 2,139.9 6.4 1.3 TWSE 9,656.9 12.1 0.2 DJIA 18,105.8 9.2 0.4 S&P 2,105.0 13.9 0.4 FTSE 7,060.5 4.6 (0.2) MYR/USD 3.654 11.5 (1.3) CPO (1mth) 2,173.0 (17.3) 1.2 Crude Oil (1mth) 56.7 (42.4) 6.4 Gold 1,198.6 (0.3) 0.5 TOP STOCK PICKS Buy rated large caps Price Target Tenaga Nasional 14.54 16.00 Sime Darby 9.27 10.20 Genting Malaysia 4.59 4.60 Gamuda 5.24 6.00 Westport 4.14 4.50 SP Setia 3.47 4.07 AFG 4.78 5.30 Hartalega 8.35 8.50 Inari 3.46 3.95 MBM Resources 3.39 4.20 Vitrox 3.57 4.05 Axiata 7.02 7.60