KLCI extends loss for second day running

KUALA LUMPUR (APRIL 50): The FBNM KLCI extended its losses for a second day running while most global markets either pared down their losses or reversed earlier retreats on bargain hunting activities.

The FBM KLCI closed 5.83 points lower at 1,593.44, paring down its losses from the earlier intra-day low of 1,591.85.

Losers edged gainers by 352 to 342, while 317 counters traded unchanged. Volume was 1.24 billion share valued at RM1.22 billion.

At the Asian markets, Chinese shares jumped 1.7% the biggest single-day rise since early February led by non-banking financials after Premier Wen Jiabao said the monopoly formed by the country's big banks needed to be broken to get money flowing to cash-starved private firms, according to Reuters.

Hong Kong shares ended a holiday-shortened week weaker on Thursday, dragged by the Chinese financial sector as investors took profit on the final trading day before a four-day holiday weekend and ahead of US jobs data on Friday, it said.

Meanwhile, European shares eked out modest gains on Thursday with investors looking for bargains after three weeks of losses but sentiment remained fragile after lower demand at a Spanish auction rekindled funding concerns for weaker euro zone countries, said Reuters.

At the regional markets, the Shanghai Composite Index rose 1.74% to 2,302.24, South Korea’s Kospi addd 0.50% to 2,028.77 and Singapore’s Straits Times Index xx

Meanwhile, Hong Kong’s Hang Seng Index lost 0.95% to 20,593.00, Japan’s Nikkei fell 0.53% to 9,767.61 and Taiwan’s Taiex fell 1.56% to 7,639.82.

ON Bursa Malaysia, BAT was the top loser and fell 60 sen to RM54.98, GAB lost 20 sen to RM13, Aeon Credit down 15 sen to RM8.74, Milux, F&N and Genting fell 12 sen each to RM1.28, RM18.88 and RM10.96 respectively, MAHB down 11 sen to RM5.76 while Amway fell 10 sen to RM9.80.

Takaful was the top gainer and added 48 sen to RM3.70, Tradewinds PLANTATION []s added 25 sen to RM5.19, Cepco up 24 sen to RM1.79, Tradewinds added 19 sen to RM9.79, Ta Ann 18 sen to RM6.38, Jaya Tiasa 17 sen to RM8.93, Inno 14 sen to RM1.64, Y&G 13 sen to 73 sen, while Shell and Sin Heng Chan added 12 sen each to RM10.30 and RM1.12.

Metronic was the most actively traded counter with 124,92 million shares done. The stock added 2.5 sen to 17,5 sen.

Other actives included Naim Indah Corp, Ariantec, Focus, Carotech, SupertComNet, Ingenuity Solutions, JCY and Key West.



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KLCI edges higher, lifted by bank stocks

KUALA LUMPUR (March 22): The FBM KLCI closed marginally higher on Wednesday, lifted by gains at select blue chips including Maybank, Public Bank, KLK, and BAT while trading volume surged to nearly 3.6 billion shares.

The 30-stock index rose 4.91 points to close at 1,582.53. Gainers beat losers by 384 to 339, while 270 counters traded unchanged. Volume was 3.59 billion shares valued RM1.79 billion following heavy transactions in penny stocks.

However, Asian shares eased on March, as concerns about China's slowing economy dampened the optimism generated by a brightening outlook for the U.S. economy that has been pushing equity markets higher since late last year, according to Reuters.

But financial spreadbetters predicted major European markets, it said.

At the regional markets, Japan’s Nikkei 225 fell 0.55% to 10.086.49, Hong Kong’s Hang Seng Index shed 0.15% to 20,856.63, South Korea’s Kospi lost 0.73% to 2,027.23, while the Shanghai Composite Index gained 0.06% to 2,378.20 and Taiwan’s Taiex rose 0.12% to 7,981.94.

Meanwhile, European stock index futures signalled gains on Wednesday, with stocks set to bounce back from the previous session's pull-back as investors bet U.S. housing data will give further evidence of economic recovery, eclipsing recent worries over Chinese growth, it said.

Among the gainers on Bursa Malaysia, BAT added 78 sen to RM53.20, PPB up 22 sen to RM16.78, Lafarge Malayan Cement, Sarawak Oil Palms and JTI up 17 sen each to RM7.25, RM6.70 and RM6.86 respectively.

Far East and Cepco added 15 sen each to RM7.40 and RM1.80, Metronic 14.5 sen to 25.5 sen, Tasco 12 sen to RM2.14 while Public Bank and KLK up two sen each to RM13.64 and RM23.43, while Maybank added one sento RM8.74.

Metronic was the most actively traded counter with 845.6 million shares done.

Other actives included Ariantec, Ingenuity Solutions, Focus, Tiger Synergy, Hubline, Asia-Bio, and Naim Indah Corp.

Decliners included Hartalega, Aeon Credit, Litrak, GAB, Gamuda, Kluang, United Malacca, SPMC, Allianz and MSM.



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CEPCO 1Q net profit falls 57.3% to RM2.46m

KUALA LUMPUR (Jan 30); CONCRETE ENGINEERING PRODUCTS [] Bhd (CEPCO) net profit for the first quarter ended Nov 30, 2011 fell 57.3% to RM2.46 million from RM5.75 million a year earlier, due mainly to lower levels of deliveries due to customer’s current site requirements.

Revenue for the quarter jumped 80.5% to RM37.13 million from RM20.57 million in 2011. Earnings per share was 5.48 sen compared to 12.85 sen, while net assets per share was RM1.99.

Reviewing its performance, CEPCO said on Monday that revenue for the quarter rose due to improved sales volume is due to improved market demand.

On its outlook, CEPCO said the current year prospects were backed against its current order book and potential orders from new projects in Malaysia and regionally.

“The effects of major raw material prices would also have a direct effect on the prospects of the group as selling prices are based on current prices of raw materials.

“The group’s major raw materials include cement, steel bars, sand and aggregates,” it said.



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KLCI slips at mid-morning, Asian markets mixed

KUALA LUMPUR (Jan 11): The FBM KLCI slipped into negative territory at mid-morning on Wednesday while Asian markets remained mixed, with gains capped by lingering worries over the eurozone debt crisis.

The FBM KLCI shed 0.51 of a point to 1,521.48 at 10.01am.

Gainers edged losers by 258 to 169, while 264 counters traded unchanged. Volume was 502.95 million shares valued at RM292.22 million.

At the regional markets, Japan’s Nikkei 225 was up 0.21% to 8,440.12, Hong Kong’s Hang Seng Index added 0.23% to 19,048.00, Taiwan’s Taiex gained 0.33% to 7,202.25 and Singapore’s Straits Times Index edged up 0.05% to 2,721.31.

Meanwhile, South Korea’s Kospi fell 0.33% to 1,847.08 and the Shanghai Composite Index shed 0.08% to 2,283.99.

BIMB Securities Research in a note Jan 11 said investors were warming up to the developments in the Eurozone.

It said that positive comments from Fitch that it will not downgrade France this year despite placing the region on negative watch list last year had put a different perspective on Europe now.

Consequently, most major European bourses charted positive gains overnight.

The research house said better earnings indication from Alcoa coupled with any absence of negative news saw another positive day for the Dow Jones Industrial Average (+70 points) whilst the S&P 500 ended on a 12-month high.

“Regionally, equity markets snapped their dismal runs with most ended in positive territory following better indications from Europe.

“As for the FBMKLCI, it closed on a flat note at 1,521 just a tad below the next resistance of 1,525 of which may be tested today,” it said.

On Bursa Malaysia, Tong Herr fell 15 sen to RM1.93, PPB down 14 sen to RM17.06, Telekom nine sen to RM4.82, HELP, LPI Capital and BAT down six sen each to RM1.50, RM14.02 and RM49.84 respectively, while Can-One fell five sen to RM1.73.

Among the gainers at mid-morning, Dutch Lady rose 38 sen to RM26.38, Mudajaya 20 sen to RM2.52, Supermax 13 sen to RM4.06, UMW and Latexx 11 sen each to RM7 and RM2.02, Cepco and Hai-O nine sen each to RM1.69 and RM2.06, while Petronas Gas and Tenaga were up eight sen each to RM15.42 and RM6.15.

The actives included Mudajaya, Hubline, Takaso, PDZ, Benalec and JCY.



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KLCI closes on weaker note as eurozone debt woes persist

KUALA LUMPUR (Dec 9): The FBM KLCI ended the week on a weaker note in line with global markets, as investors worried over the uphill battle European leaders faced in agreeing to a more permanent solution to solve the eurozone debt crisis started liquidating their stocks.

The FBM KLCI fell 12.79 points to 1,460.13, weighed by losses including at KLK, Genting, PPB, AMMB and Gamuda.

Losers beat gainers by 515 to 213, while 278 counters traded unchanged. Volume was 1.3 billion shares valued at RM1.06 billion.

EU leaders agreed stricter budget rules for the euro zone at a summit seen as crucial to the future of the single currency in Brussels, but failed to secure changes to the EU treaty among all 27 member states, meaning a deal will instead have to involve just euro zone states and any others that want to join, according to Reuters.

After 10 hours of talks there was little concrete progress among the leaders, apart from their commitment to work towards a new "fiscal compact", it said.

At the regional markets, Hong Kong’s Hang Seng Index lost 2.73% to 18,586.23, South Korea’s Kospi fell 1.97% to 1,874.75, Japan’s Nikkei 225 was down 1.48% to 8,536.46, Taiwan’s Taiex lost 1.28% to 6,893.30, the Shanghai Composite Index shed 0.62% to 2,315.27 and Singapore’s Straits Times Index lost 1.24% to 2,694.60.

On Bursa Malaysia, KLK fell 72 sen to RM22.28, Genting down 26 sen to RM10.62, Cepco 23 sen to RM1.66, Knusford lost 22 sen to RM1.64, PPB fell 20 sen to RM16.30, Parkson and AMMB lost 16 sen each to RM5.50 and RM5.74, Gamuda and MISC down 15 sen each to RM3.13 and RM5.80, while AirAsia lost 12 sen to RM3.67.

Among the gainers, Nestle added 28 sen to RM54.38, GAB 18 sen to RM12, Hartalega 17 sen to RM5.72, Harvest Court 15 sen to RM1.24, Dutch Lady 14 sen to RM24.92, Magni 13 sen to RM1.23, Bintulu Port and SOP 10 sen each to RM6.95 and RM5.40, while Perduren added 8.5 sen to 93.5 sen.

Compugates was the most actively traded counter with 66.9 million shares done. The stock was unchanged at 7 sen.

Other actives included SYF Resources, Versatile, DPS Resources, Utopia, Pavilion REIT and Emico.



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KLCI pares down gains, struggles to stay above 1,490-level

KUALA LUMPUR (Dec 1): The FBM KLCI pared down its gains on Thursday and slipped to below the 1,490-point level, while regional markets chalked up strong gains as coordinated liquidity action by the major central banks boosted investor sentiment.

The US Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland said on Wednesday they would lower the cost of existing dollar swap lines by 50 basis points from Dec 5, and arrange bilateral swaps to provide liquidity for other currencies, according to Reuters.

The FBM KLCI closed 13.16 points higher at 1,485.26. The index had earlier risen to its intra-day high of 1,502.53.

At the regional markets, Hong Kong’s Hang Seng Index surged 5.63% to 19,002.26, Taiwan’s Taiex rose 3.98% to 7,178.69, South Kospi gained 3.72% to 1,916.18, the Shanghai Composite Index added 2.29% to 2,386.86, and Japan’s Nikkei 225 was up 1.93% to 8,597.38 and Singapore’s Straits Times Index rose 2.2% to 2,761.88.

On Bursa Malaysia, BAT was the top gainer and rose RM1.60 to RM48.10; PPB added 52 sen to RM16.58, Cepco rose 40 sen to RM1.91, JobStreet 39 sen to RM2.80, Hong Leong Bank 32 sen to RM10.78, Nestle, Dutch Lady and KLK 30 sen each to RM5.20, RM24.40 and RM21.80 respectively, Shangri-La 28 sen to RM2.38 and Litrak 24 sen to RM3.65.

Genting was the top loser and fell 26 sen to RM10.70; Lafarge Malayan Cement lost 24 sen to RM6.70, MSM 19 sen to RM4.81, Axiata 17 sen to RM4.93, F&N 14 sen to RM18.02, IJM Corp, Tan Chong and MAHB fell 11 sen each to RM5.80, RM4.24 and RM6.08 respectively, while Southern Steel lost 10 sen to RM1.98.

The actively traded counters included Wijaya warrants, Compugates, Utopia, Extol, Karambunai, Hubline and GPRO.



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