RHBInvest Research Highlights

Top Story

First Resources

• Significant turnaround from.
• Fair value is trimmed to S$1.60 (from S$1.70). Maintain Outperform.

Corporate Highlights


Hua Yang

• In the right affordable housing segment.
• Fair value is RM1.16. Not rated.

Gamuda

• Penang issues stop-work order against double-tracking project.
• Fair value is RM4.51. Maintain Trading Buy.

Genting Bhd

• One-off gain of RM390m.
• Fair value for Genting is RM12.45 (from RM12.75). Maintain Outperform.

Parkson

• PRG 3QFY12/10 results slightly below expectations.
• Fair value is unchanged at RM7.72. Maintain Outperform.

Tan Chong

• Spreading its wings to the east.
• Maintain fair value at RM6.16. Market Perform.
  

Maybank

• Off to a decent start.
• Fair value is RM10.40. Maintain Outperform.

AMMB

• Another strong quarter.
• Fair value is RM7.26 (from RM6.95) Maintain Outperform.

CSC Steel

• 3QFY12/10 performance impacted by inventory write-down.
• Fair value is RM2.33. Maintain Outperform.

Technical Highlights

Daily Trading Strategy

• Cautious pending clearer regional performance.
• FBM KLCI’s bearish technical readings continued amid the bearish reversal in the regional markets that responded negatively to the China markets’ unexpected 5% plunge.
• If the index fails to recapture the psychological level of 1,500 and 10-day SMA of 1,513 soon, chances are high for it to continue heading downward to below the 40-day SMA near 1,488.
• Key support is at 1,450, while the resistance is seen at the 10-day SMA for this week
  

Daily Technical Watch: Genting

• Negative “double sells” signal on the indicators.
• Immediate Support at RM9.57
• Immediate Resistance at RM10.60

Weekly Trading Idea: Salcon

• A chance to accumulate near RM0.75
• Strategy: Buy on weakness at above RM0.75.
• Immediate Resistance at RM0.89
• Immediate Support at RM0.75
• Exit: Cut loss if it loses the 10-day and 40-day SMAs