Asian markets mired in red as Europe stumbles

KUALA LUMPUR (May7): The FBM KLCI fell on Monday as Asian markets were mired in the red as European markets stumbled following election outcomes in France, Greece and Italy that raised concerns on whether euro zone economies will continue to pursue austerity measures.

Meanwhile, European equities slumped to 4-1/2 month lows on Monday after elections in France and Greece that reflected deep public discontent over austerity measures and cast doubt over the euro zone's ability to fix its debt crisis, according to Reuters.

Greece's benchmark stock index fell by more than 7 percent in early morning trading on Monday, after the country's main parties failed to win enough votes to form a ruling coalition following elections on Sunday, it said.

Royal Bank of Scotland strategists in a note Monday said the results of a number of elections across Europe that took place over the weekend were likely to keep the market squarely focused on politics this week, and on the results implications for the European policy response devised to address the debt crisis so far.

The FBM KLCI fell 6.71 points to 1,584.87 at 5pm, weighed by losses at select blue chips.

Market breadth was negative with 540 losers, 208 gainers and 305 counters trading unchanged. Volume was 963.02 million shares valued at RM1.19 billion.

At the regional markets, Japan’s Nikkei 225 lost 2.78% to 9,119.14, Hong Kong’s Hang Seng Index lost 2.61% to 20,536.65, Taiwan’s Taiex fell 2.11% to 7,538.08, South Korea’s Kospi was down 1.64% to 1,956.44 and Singapore’s Straits Times Index lost 2.08% to 2,928.34.

On Bursa Malaysia, Dutch Lady was the top loser and fell 34 sen to RM33.04, Tradewinds PLANTATION []s lost 23 sen to RM5.75, Tradewinds down 22 sen to RM9.82, SAM Engineering 19 sen to RM3.01, Hong Leong Bank, Genting Plantations and IJM Corp lost 16 sen each to RM12.20, RM9.44 and RM5.42 respectively, Allianz and Tahps down 15 sen each to RM4.60 and RM4.65, while Atlan fell 14 sen to RM4.26.

SAAG was the most actively traded counter with 48.97 million shares done. The stock gaindd half a sen to 7 sen.

Other actives included Ariantec, Time, Maybulk, Benalec, KFCH, Metronic, permaju, Naim Indah Corp and JCY.

Meanwhile, the gainers on Monday included Permaju, Country View, PMB Tech, Tasek, GAB, Lafarge Malayan Cement, MKH, KESM, Nestle and HLFG.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Global woes drag Asian equities lower

KUALA LUMPUR (May 7): The FBM KLCI remained in negative territory at the mid-day break on Monday, in line with the gloomy investor sentiment at key regional markets that saw the Japan and Hong Kong markets fall steeply by more than 2% each.

The FBM KLCI fell 7.76 points to 1,583.28 at 12.30pm, weighed by losses at select blue chips and index-linked PLANTATION [] counters.

Losers beat gainesr by 474 to 151, while 258 counters traded unchanged. Volume was 522.55 million shares valued at RM423.45 million.

The ringgit weakened 0.66% to 3,0613 versus the greenback, crude palm oil futures for the third month delivery fell RM30 per tonne to RM3,336, crude oil lost US$1.37 per barrel to US$97.12 while gold slumped US$4/27 an ounce to US$1,637.85.

Asian markets fell after elections in France and Greece raised concerns on whether euro zone economies will continue to pursue austerity measures and as U.S. jobs data came in weaker than expected, according to Reuters.

At the regional markets, Japan’s Nikkei 225 slumped 2.72% to 9,125.48, Hong Kong’s Hang Seng Index lost 2.43% to 20,573.10, the Shanghai Composite Index down 0.26% to 2,445.68, Taiwan’s Taiex fell 2.23% to 7,529.40, South Korea’s Kospi lost 1.77% to 1,953.91 and Singapore’s Straits Times Index fell 1.80% to 2,936.85.

On Bursa Malaysia, Dutch lady fell 30 sen to RM33.08, Tradewinds 19 sen to RM9.85, Carlsberg 18 sen to RM10.82, Hong Leong Bank and Asia Ply 16 sen each to RM12.20 and 14 sen, Allianz 15 sen to RM4.60, while IJM Corp and Petronas Dagangan fell 12 sen each to RM5.46 and RM19.38.

Among the plantations, Tradewinds Plantations fell 18 sen to RM5.80, KLK 16 sen to RM23.60, PPB eight sen to RM16.68, Batu Kawan four sen to RM18.80, Genting Plantations and IOI Corp two sen each to RM9.58 and RM5.25, while Sime Darby, IJM Plantations and Kulim fell one sen each to RM9.78, RM3.25 and RM4.23 respectively.

Time Engineering was the most actively traded counter with 399.51 million shares done. The stock rose four sen to 37 sen.

Other actives included SAAG, Ariantec, KFCH, Maybulk, Benalec, Metronic, JCY and Rubberex.

Gainers included Country View, Lafarge Malayan Cement, Glenealy, GAB< Permaju, NCB, Tan Chong, Tasek, Mentiga and MAHB.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI up more than 23 points week-on-week

KUALA LUMPUR (May 4): The FBM KLCI rose 23.24 points week-on-week, and was among the better performers compared with its regional peers on Friday.

The FBM KLCI rose 7.87 points to close at 1,691.04 on Friday, lifted by gains at blue chips including Petronas Dagangan, Tenaga, Genting and AirAsia.

Gainers outpaced losers by 456 to 274, while 352 counters traded unchanged. Volume was 1.33 billion shares valued at RM1.59 billion.

Asian shares were mixed for a second successive day on Friday as another batch of lacklustre U.S. data stoked concerns that the recovery in the world's biggest economy is faltering, according to Reuters.

At the regional markets, the Shanghai Composite Index added 0.49% to 2,452.01, Taiwan’s taiex added 0.54% to 7,700.95, Hong Kong’s Hang Seng Index fell 0.77% to 21,086.00, South Korea’s Kospi lost 0.30% to 1,989.15 and Singapore’s Straits Times Index

Japan’s Nikkei 225 was closed for a national holiday.

Meanwhile, European shares opened lower and industrial commodities like oil and copper were weak on Friday on concerns about the health of the world's biggest economy before a reading on the strength of the U.S. jobs market, said Reuters.

Weekend elections in France and Greece, which could complicate efforts to resolve the euro zone debt crisis, were also weighing on sentiment, leaving the euro steady against the dollar at around $1.3150 and debt markets little changed, it said.

On Bursa Malaysia, Nestle was the top gainer on Friday and rose 40 sen to RM55.90, Allianz, Aeon and Petronas Dagangan added 20 sen each to RM4.75, RM10 and RM19.50 respectively, Coastal Contracts 19 sen to RM2.13, SAM Engineering 18 sen to RM3.20, Tenaga and MBM Resources up 15 sen each to RM6.60 and RM5.24, while Maybulk and Genting rose 14 sen each to RM1.79 and RM10.64.

AirAsia was among the actively traded counters with 14.45 million shares done. The stock added four sen to RM3.64.

Other actives included Ariantec, Glomac, Maybulk, Astral Supreme, Metronic and Jotech.

Decliners on Friday included Knusford, Southern Acids, Cepco, Asia File, Ireka, Takaful, Hoover, Nakamichi, Aeon Credit and Lafarge Malayan Cement.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI closes higher, but stays shy of 1,590-level

KUALA LUMPUR (March 27): the FBM KLCI recovered some lost ground and closed higher on Tuesday, in line with the overall improved sentiment at key regional markets.

However, the index stayed shy of breaching the 1,590-level for long.

The FBM KLCI was up 5.12 points to close at 15,88.10, lifted by gains at select blue chips. The index had earlier risen to its intra-day high of ,591.03.

Gainers led losers by 389 to 381, while 337 counters traded unchanged. Volume was 1.94 billion shares valued at RM1.66 billion.

Asian stocks rebounded, with Japan's Nikkei hitting a one-year high, and the dollar struggled on Tuesday after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment, according to Reuters

Europe's major equity markets were also poised for gains, with Euro STOXX 50 index futures opening up 0.7 percent, while financial spreadbetters called London's FTSE to start trading 0.2-0.3 percent higher, it said.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.69% to 21,017.13, Japan’s Nikkei 225 gained 2.36% to 10,255.15, South korea’s Kospi was up 1.02% to 2,039.76, Taiwan’s Taiex rose 0.78% to 8,029.46 and Singapore’s Straits Times Index…

On Bursa Malaysia, Dutch Lady was the top gainer and rose 60 sen to RM32, F&N added 24 sen to RM18.50, Petronas Dagangan added 22 sen to RM18.70, Malayan Flour Mills 21 sen to RM4.65 and KLK 20 sen to RM24.06.

Aeon Credit, Takaful and HLFG added 18 sen each to RM8.88, RM2.90 and RM12.30 respectively, while Petronas Gas and Genting PLANTATION []s gained 16 sen each to RM16.90 and RM9.41.

Metronic was the most actively traded counter with 280.1 million shares done. The counter gained four sen to 24.5 sen.

Other actives included Ariantec, Supercomnet, Naim Indah Corp, Focus, Frontken, Oversea Enterprise and TMS.

Among the decliners, Aeon fell 25 sen to RM9.15, Bintulu Port 17 sen to RM6.83, Allianz 12 sen to RM4.70, AirAsia 11 sen to RM3.35, Top Glove 10 sen to RM4.55. P.I.E., TDM, MISC and Sunway fell nine sen each to RM4.81, RM4.77, RM5.29 and RM2.62 respectively.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

FBM KLCI cuts losses, in positive territory at lunch break

KUALA LUMPUR (March 21) : The FBM KLCI cut losses to leap back into positive territory towards lunch break as most Asian stock markets encountered a sell down on China economic growth concerns.

Regional sentiment was hit by updates on costlier retail energy in China and the anticipation of weaker demand in the world’s second largest economy for raw materials such as iron ore, the primary feedstock for steel manufacturing.

In Malaysia, the 30-stock FBM KLCI rose 0.68 point to 1,578.3 at 12.30pm with 1.83 billion shares worth some RM682 million traded. Across the exchange, there were 238 gainers versus 349 decliners while 330 stocks were unchanged.

The index had fallen as much as 0.3%or 4.45 points to an intraday low of 1,573.17 earlier.

Top gainer and most active stock METRONIC GLOBAL BHD [] added 18 sen to 29 sen followed by Genting PLANTATION []s Bhd which was up 11 sen to RM9.46.

Metronic said on Monday it was informed by its managing director Dr Ng Tek Che that he was approached by parties who are keen to acquire his 5.23% stake in the firm.

Decliners include ALLIANZ MALAYSIA BHD [] which lost 17 sen to RM4.70 while PPB GROUP BHD [] was down 16 sen to RM16.40.

Most Asian stockmarkets fell at midday. Japan’s Nikkei 225 declined 0.48% to 10,093.1 points, Australia’s S&P/ASX 200 was down 0.37% to 4,259, while Hong Kong’s Hang Seng lost 0.47% to 20,789.8



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI extends loss as renewed eurozone worries weigh on global markets

KUALA LUMPUR (Jan 4): The FBM KLCI reversed its earlier gains and extended its losses on Wednesday as key regional markets retreated on renewed concerns over the eurozone debt crisis.

The FBM KLCI fell 9.32 points to 1,504.22, down from its intra-day high of 1,525.14.

Losers overtook gainers by 404 to 387, while 318 counters traded unchanged. Volume was 1.66 billion shares valued at RM1.53 billion.

Asian shares closed mixed, while European shares broke a four-session rally on Wednesday as concerns over the euro zone's huge refinancing needs lead investors to cash in on recent gains, according to Reuters.

Banking stocks, many of which are heavily exposed to euro zone debt, fell 0.9% ahead of a German debt auction later in the session, it said.

At the regional markets, the Shanghai Composite Index fell 1.37% to 2,169.39, Hong Kong’s Hang Seng Index lost 0.80% to 18,727.31, and South Korea’s Kospi was down 0.49% to 1,866.22.

Meanwhile, Japan’s Nikkei 225 rose 1.24% to 8,560.11, Taiwan’s Taiex up 0.42% to 7,082.97 and Singapore’s Straits Times Index added 0.84% to 2,711.02.

On Bursa Malaysia, Petronas Dagangan lost 44 sen to RM17, Y&G down 24.5 sen to 75.5 sen, HLFG shed 22 sen to RM11.52, APM 20 sen to RM4.30, Mah Sing and UEM Land lost 15 sen each to RM1.95 and RM2.23, CIMB 14 sen to RM7.10, Ibraco 13 sen to RM1.23 and GAB fell 12 sen to RM13.22.

Among the gainers, Dutch Lady gained 58 sen to RM24, KLK 50 sen to RM23.50, Batu Kawan 48 sen to RM17.98, BAT 36 sen to RM49.80, BHIC 23 sen to RM3.85, Allianz 18 sen to RM4.94, Lafarge Malayan Cement 16 sen to RM7.14, Shell 15 sen to RM9.30 while MISC gained 13 sen to RM5.73.

The actives included HWGB, JCY, Hibiscus, Astral Supreme, Maxbiz and Nextnation.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI remains edgy, limited gains at mid-morning

KUALA LUMPUR (Jan 4): The FBM KLCI rose at mid-morning on Wednesday in line with its regional peers, but the gains were limited as investors remained cautious given the continuing concerns over the eurozone debt crisis.

Asian stocks and the euro firmed after upbeat U.S. and European economic data boosted global shares and commodities, according to Reuters.

The FBM KLCI added 5.38 points to 1,518.92 at 10am.

Gainers led losers by 339 to 125, while 230 counters traded unchanged. Volume was 521.62 million shares valued at RM327.52 million.

At the regional markets, Japan’s Nikkei 225 rose 1.32% to 8,566.95, Hong Kong’s Hang Seng Index edged up 0.15% to 18,904.86, the Shanghai Composite Index added 0.77% to 2,216.39, Taiwan’s Taiex was up 0.78% to 7,108.52 and Singapore’s Straits Times Index rose 0.79% to 2,706.66.

Meanwhile, South Korea’s Kospi shed 0.02% to 1,875.03.

RHB Research in its market update on Jan 4 said that 2012 starts with the overhanging concerns of 2H 2011, this could be another year of “more of the same”.

However, on a brighter note, it noted the possibility of two market rallies in the near term – “January effect” and “Chinese New Year rally”.

It said that while the January effect had been evident every year for the last 10 years (and had led to a positive annual return in seven of the 10 years), the historical data for the pre-Lunar New Year rally was less conclusive (but the post-festival returns have actually been negative in 7 of the last 10 years).

“Beyond January, we believe 2012 will be influenced by 2011 legacy issues.

“We thus continue to advocate a cautious stance, although we also recommend accumulating fundamentally-robust stocks on weakness for tactical plays with a longer-term view towards the recovery that will undoubtedly follow,” it said.

On Bursa Malaysia, BAT and KLK rose 44 sen each to RM49.88 and RM23.44, United PLANTATION []s 22 sen to RM19.40, Allianz 19 sen to RM4.95, YHS 16 sen to RM2.22, Batu Kawan 14 sen to RM17.64, Ajiya 12 sen to RM1.75, Jaya Tiasa 11 sen to RM7.01 while BHIC and DiGi added nine sen each to RM3.71 and RM3.90.

The actives included HWGB, Maxbiz, JCY, Envair, Karambunai and XDL, while decliners included Asdion, Tradewinds, Hibiscus, Yinson, Harrisons, Sime Darby, Kretam and Tanjung Offshore.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Banks, blue chips weigh KLCI down at mid-morning

KUALA LUMPUR (Jan 3): The FBM KLCI bucked the regional trend and retreated on the first trading day of 2012, and slipped 8.62 points to 1,522.11 at mid-morning, weighed by banking and select blue chip stocks.

Gainers led losers by 223 to 160, while 212 counters traded unchanged. Volume was 325.47 million shares valued at RM182.34 million.

At the regional markets, Hong Kong’s Hang Seng Index jumped 1.7% to 18,747.83, South Korea’s Kospi rose 1.97% to 1,862.38, Taiwan’s Taiex added 1.4% to 7,049.28 while Singapore’s Straits Times Index gained 0.62% to 2,662.78.

The China and Japan markets are closed today for holidays.

OSK Research director Chris Eng in his January outlook report said the research house’s expectation of a December rally proved correct as the FBM KLCI raced up in the final trading week of 2011 to end at 1530.73 points, less than 3 points shy of its 2011 year-end target.

“We stand by our earlier strategy that investors should “Remain Defensive, Sell” when KLCI breaks above 1,500 pts, and Buy as the index approaches 1,300 points”.

“As such, we have a Sell call on the market for January,” he said.

Eng said the KLCI was overpriced and lacking fundamentals to sustain at this level.

“With 3 of our 5 Top Dec buys having outperformed the KLCI, we are switching to the more unconventional small cap buys for January given our broader market Sell call.

Among the decliners at mid-morning, Public Bank fell 22 sen to RM13.16, CIMB 17 sen to RM7.27, while Maybank and RHB Capital lost 13 sen each to RM8.45 and RM7.35.

Other losers included Nestle that fell 20 sen to RM56, BAT 16 sen to RM49.76, KrisAssets 15 sen to RM6.10, Batu Kawan 14 sen to RM17.32, while Ewein and Lafarge Malayan Cement fell 10 sen each to 80 sen and RM6.90.

Allianz led the gainers and was up 60 sen to RM5.35; United PLANTATION []s gained 20 sen to RM19.20, Aeon 16 sen to RM7.40, Hibiscus 12.5 sen to RM1.07, Proton 12 sen to RM4.94, Supermax and Tradewinds Plantations 11 sen each to RM3.94 and RM4.45, while MAHB, Malayan Flour Mills and KLK added 10 sen each to RM5.90, RM7.30 and RM22.80 respectively.

The actives included Hibiscus, JCY, IRCB, Proton, Sanichi and TMS.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI closes lower, Asian markets slip in weak turnover

KUALA LUMPUR (Dec 8): The FBM KLCI closed lower on Thursday, while key Asian markets slipped in weak turnover ahead of the European leaders’ summit on Friday and release of economic data from China over the next two days.

The FBM KLCI fell 0.68% or 10.07 points to close at 1,472.92.

Losers beat gainers by 447 to 300, while 287 counters traded unchanged. Volume was 1.62 billion shares valued at RM1.18 billion.

At the regional markets, Hong Kong’s Hang Seng Index lost 0.69% to 19,107.81, Japan’s Nikkei 225 fell 0.66% to 8,664.58, Taiwan’s Taiex was down 0.71% to 6,982.90, South Korea’s Kospi lost 0.37% to 1,912.39, the Shanghai Composite Index shed 0.12% to 2,329.82 and Singapore’s Straits Times Index down 1.95% to 2,728.31.

The top loser on Bursa Malaysia was BAT that fell 60 sen to RM47.40; F&N lost 30 sen to RM17.80, JT International down 27 sen to RM6.53, Allianz 22 sen to RM4.66, Riverview, CIMB and RHB Capital down 21 sen each to RM2.91, RM6.99 and RM6.92 respectively, while Hong Leong Bank, IJM Corp and Axiata lost 20 sen each to RM10.54, RM5.50 and RM4.89 respectively.

SAAG was the most actively traded counter with 71.7 million shares done. The stock was unchanged at 6.5 sen.

Other actives included Versatil, DVM, Sycal, Compugates while Proton and DRB-Hicom warrants were also actively traded.

Gainers included KLK, Nestle, Batu Kawan, Sarawak Oil Palm, BLD PLANTATION []s, Boxpak, BHIC, Lafarge Malayan Cement, Genting and Nilai.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI stays in the red at mid-day as investors remain jittery

KUALA LUMPUR (Dec 8): The FBM KLCI stayed in negative territory at the mid-day break on Thursday, in line with most key regional markets as investors stayed undecided ahead of the European crunch summit over the weekend.

Asian shares fell on Thursday as doubts set in about whether European leaders can agree on a plan to tackle the euro zone's two-year-old debt crisis at a high-stakes summit on Friday, according to Reuters.

The FBM KLCI fell 10.28 points to 1,472.71 at the mid-day break.

Losers led gainers by 216 to 364, while 275 counters traded unchanged. Volume was 895.84 million shares valued at RM498.92 million.

The ringgit weakened 0.19% to 3.1316 versus the US dollar; crude palm oil futures for the third month delivery slipped RM3 per tonne to RM3,112, crude oil gained 13 cents per barrel to US$100.62 while gold shed US$3.57 an ounce to US$1,738.23.

At the regional markets, Japan’s Nikkei 225 was down 0.52% to 8,676.76, Hong Kong’s Hang Seng Index lost 0.67% to 19,111.64, Taiwan’s Taiex fell 1.17% to 6,950.81, Singapore’s Straits Times Index lost 1.59% to 2,738.25 and South Korea’s Kospi shed 0.28% to 1,914.00.

Meanwhile, the Shanghai Composite Index gained 0.42% to 2,342.42.

Among the losers on Bursa Malaysia, BAT fell 34 sen to RM47.66, JT International down 25 sen to RM6.55, KLK 22 sen to RM21.94, Hong Leong Bank and IJM Corp 20 sen each to RM10.54 and RM5.50, Axiata 17 sen to RM4.92, Uzma and CIMB 15 sen each to RM1.60 and RM7.05, while Allianz and KrisAssets lost 13 sen each to RM4.75 and RM5.25.

SAAG was the most actively traded counter with 64.4 million shares done. The stock was up half a sen to 7 sen.

Other actives included DVM, Sycal, iDimension, Timecom, Time and MUI Industries.

Among the gainers this morning were Nestle, BHIC, Boxpak, BLD PLANTATION []s, HLFG, Cycle & Carriage Bintang, Milux, Ajinomoto, PPB and Hwatai.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

Asian markets fall on doubts over European leaders’ summit outcome

KUALA LUMPUR (Dec 8): The FBM KLCI slipped on Thursday in line with the weaker overnight close at European bourses as well as Wall Street, following growing concerns over the eurozone debt crisis and doubts over whether a European policymakers’ summit this week would solve the financial woes there.

The FBM KLCI fell 10.62 points to 1,472.37 at 10am, weighed by losses at blue chip stocks.

Losers led gainers by 232 to 164, while 195 counters traded unchanged. Volume was 465.58 million shares valued at RM206.77 million.

Asian shares drifted lower as a report that the G20 was preparing a $600 billion lending facility for the International Monetary Fund (IMF) to help Europe was denied by G20 and IMF officials, according to Reuters.

Meanwhile, Standard & Poor's warned on Wednesday that it could cut the credit ratings of the European Union and large euro-zone banks if a mass downgrade of euro-zone countries materializes.

S&P had said on Monday it may downgrade nearly all 17 euro-zone countries if EU leaders fail to agree on a solution for the region's debt crisis during Friday's summit.

At the regional markets, Hong Kong’s Hang Seng Index lost 1.03% to 19,041.67, Japan’s Nikkei 225 fell 0.97% to 8,637.95, Taiwan’s Taiex was down 1.36% to 6,937.42, South Korea’s Kospi lost 0.69% to 1,906.23, Singapore’s Straits Times Index fell 0.68% to 1,472.90 and the Shanghai Composite Index shed 0.62% to 2,318.21.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Thursday said the FBM KLCI’s resistance areas of 1,484 and 1,503 may cap market gains, whilst the obvious support areas may be located at 1,465 and 1,482.

“Due to the US markets’ mixed tone last night, we might a quiet and benign day for the local index today,” he said.

Among the losers on Bursa Malaysia at mid-morning were BAT that fell 40 sen to RM47.60, JT International down 29 sen to RM6.51, IJM Corp 25 sen to RM5.45, KLK 24 sen to RM21.92, PPB and Hong Leong Bank down 20 sen each to RM16.20 and RM10.54, Uzma 15 sen to RM1.60, Allianz and KrisAssets down 13 sen each to RM4.75 and RM5.25, while Axiata lost 12 sen to RM4.97.

SAAG was the most actively traded counter with 60.5 million shares done. The stock added one sen to 7.5 sen.

Other actives include DVM, Sycal, Timecom, Time, MUI Industries and YGL.

Meanwhile, gainers included Nestle, United PLANTATION []s, BHIC, Proton, Dutch Lady, Tradewinds Plantations, Petrol-One, Boxpak and Eng Kah.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

KLCI reverses earlier losses to close higher

KUALA LUMPUR (Dec 7): The FBM KLCI reversed its earlier losses and closed higher on Wednesday, in line with the improving but still cautious sentiment at key regional markets.

The FBM KLCI rose 2.07 points to close at 1,482.99.

Gainers led losers by 445 to 304 while 306 counters traded unchanged. Volume was 2.09 billion shares valued at RM1.77 billion.

Growing optimism that euro zone leaders are on track to produce a confidence-boosting package of measures to solve the debt crisis at their weekend summit lifted risk appetite on Wednesday, with the euro and global equity markets posting gains, according to Reuters.

At the regional markets, Japan’s Nikkei 225 rose 1.71% to 8,722.17, Hong Kong’s Hang Seng Index up 1.58% to 19,240.58, Taiwan’s Taiex added 1.10% to 7,033.00, South Korea’s Kospi rose 0.87% to 1,919.42, the Shanghai Composite gained 0.29% to 2,332.73 and Singapore’s Straits Times Index rose 1.21% to 2,782.55.

On Bursa Malaysia, KLK was the top gainer and added 48 sen to RM22.16; Nestle rose 40 sen to RM53.60, JT International and KrisAssets were up 30 sen each to RM6.80 and RM5.38, Allianz 21 sen to RM4.88, Aeon 20 sen to RM7.40, Boxpak 18 sen to RM1.69 while Chin Teck, Dutch Lady and BHIC rose 16 sen each to RM8.56, RM22.26 and RM2.86 respectively.

Pavilion REIT, which made its debut on the Main Market of Bursa Malaysia, was the most actively traded counter with 197.3 million units done. The counter added 12 sen to RM1.02.

Other actives included Sanichi, LFE Corp, Utopia’s securities and Proton.

Among the decliners, Proton fell 27 sen to RM4.04, MAHB 24 sen to RM5.80, Tenaga 19 sen to RM5.46, UMW and RHB Capital 13 sen each to RM6.54 and RM7.13, Tradewinds PLANTATION []s 11 sen to RM4.40 while Tasek and LPI Capital fell 10 sen each to RM7.70 and RM13.



Get your T+10 interest FREE margin trading account NOW. Attractive brokerage for online trading. Contact Mr Ho at +603-5192 0808 or hoxian@sjsec.com.my for more details.

RAM Ratings sees Alliance Bank’s profits improving in FY12

KUALA LUMPUR (Nov 9): RAM Rating Services Bhd says Alliance Bank Malaysia Bhd’s pre-tax profit to be on track towards a better showing in fiscal 2012 after recording healthier pre-tax profit of RM596.10 million in FY ending March 30, 2011.

It said on Wednesday the ongoing progress in its asset quality had aligned Alliance Bank’s gross impaired-loan ratio - 3.0% at end-June 2011 - with the industry average.

RAM Ratings said the banking group's credit-cost ratio is forecast to come in at a healthy 0.30% in FY March 2012, with full provisions made on its exposure to collateralised loan obligations.

“In the absence of such impairment losses, the group recorded a healthier pre-tax profit of RM596.1 million in FY March 2011, and appears on track towards a better showing in fiscal 2012,” it said.

RAM Ratings reaffirmed the bank’s long- and short-term financial institution ratings at A1 and P1, respectively.

Concurrently, the A2 rating of the group’s RM1.5 billion subordinated medium-term notes issuance programme (2011/2026) (subordinated notes) had also been reaffirmed. Both long-term ratings have a stable outlook.

The ratings agency said the one-notch difference between the rating of the subordinated notes and Alliance Bank’s long-term financial institution rating mirrors the subordinated nature of the former to the Group’s senior unsecured obligations.

Alliance Bank is the smallest among the 8 domestic banking groups in Malaysia, with about 2% of the system’s outstanding loans and deposits. Nevertheless, it maintains a notable presence in consumer loans and lending to small and medium-sized enterprises, which together account for 76% of Alliance Bank’s loan book. The latter was one of the key drivers of its 4.8% loan growth in FYE 31 March 2011 (“FY Mar 2011”).

Notably, ongoing progress in its asset quality has aligned Alliance Bank’s gross impaired-loan ratio - 3.0% at end-June 2011 - with the industry average. Meanwhile, its credit-cost ratio is forecast to come in at a healthy 0.30% in FY March 2012, with full provisions made on its exposure to collateralised loan obligations.

In the absence of such impairment losses, the group recorded a healthier pre-tax profit of RM596.1 million in FY March 2011, and appears on track towards a better showing in fiscal 2012.

Alliance Bank’s strong deposit growth in FY March 2011, in contrast to its relatively modest loan expansion, had resulted in an improved loans-to-deposits ratio of 76.1% as at end-June 2011 (end-March 2010: 85.31%). However, this is expected to trend upwards as its lending momentum gathers pace.

The group’s tier-1 risk-weighted capital-adequacy ratio remained healthy at 11.3% as at end-June 2011 (end-March 2010: 11.1%).