KUALA LUMPUR: Auto parts supplier APM fell 3.9% on Thursday, Oct 20 on the downbeat outlook for the domestic sector as analysts viewed the weak market sentiment may see consumers avoiding discretionary stocks.
At 3.12pm, APM was down 19 sen to RM4.60. There were 137,100 shares done.
The 30-stock FBM KLCI, of which APM is not a component, fared worse. It fell 16.12 points to 1,434.13. Turnover was 890.64 shares valued at RM630.69 million. There were 142 gainers, 531 losers and 206 stocks unchanged.
RHB Research Institute was negative on prospects for the motor sector in 2012 on the back of rising global macroeconomic uncertainties and escalating downside risks to equity valuations.
“Investor sentiment surrounding the motor sector going into 4Q11 is likely to remain weak, with the market’s increasingly defensive posture not favouring consumer discretionary stocks,” it said.
RHB Research had an under perform rating on APM and fair value of RM4.20.
At 3.12pm, APM was down 19 sen to RM4.60. There were 137,100 shares done.
The 30-stock FBM KLCI, of which APM is not a component, fared worse. It fell 16.12 points to 1,434.13. Turnover was 890.64 shares valued at RM630.69 million. There were 142 gainers, 531 losers and 206 stocks unchanged.
RHB Research Institute was negative on prospects for the motor sector in 2012 on the back of rising global macroeconomic uncertainties and escalating downside risks to equity valuations.
“Investor sentiment surrounding the motor sector going into 4Q11 is likely to remain weak, with the market’s increasingly defensive posture not favouring consumer discretionary stocks,” it said.
RHB Research had an under perform rating on APM and fair value of RM4.20.
