KLCI rallies nearly 12pts at midday

KUALA LUMPUR (Feb 29): Share prices on Bursa Malaysia rallied strongly at midday to send the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) surging 11.87 points to 1,568.60, dealers said.

The FBM KLCI's level was also the highest since July 18.

The market was rejuvenated from yesterday's losses as advances in regional bourses and a sharp decline in oil prices bolstered sentiment, the dealers said.

The Finance Index rose 100.36 points to 14,021.33 and the INDUSTRIAL INDEX gained 33.58 points to 2,890.80, while the PLANTATION Index increased 17.061 points to 8,639.66.

The FBM Emas Index gained 70.359 points to 10,852.26 and the FBM 70 Index increased 30.20 points to 12,242.53, with the FBM Ace Index increasing 19.13 points to 4,708.34.

Gainers led losers 432 to 243 while 309 counters were unchanged, 511 untraded and 33 others suspended. Turnover stood at 973.507 million shares worth RM1.012 billion.

For the actives, China Stationery was flat at RM1.39,IFCA MSC decreased half-a-sen to 13 sen, Compugates Holdings rose one sen to 11 sen and YTL Corporation improved five sen to RM1.63.

Among heavyweights, Maybank rose one sen to RM8.75, Sime Darby increased nine sen to RM9.66, and CIMB gained five sen to RM7.18, but Petronas Chemicals slipped 10 sen to RM6.70



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Compugates submits RM2 bn solar projects in Sabah

KUALA LUMPUR (Feb 16): Shares of COMPUGATES HOLDINGS BHD [], which had seen very active trade recently, said on Thursday it had recently submitted proposals for various solar projects in Sabah valued at more than RM2 billion.

At midday, its share price was up 0.5 sen to 11.5 sen with 32.30 million shares done.

The FBM KLCI fell 11.39 points or 0.73% to 1,549.91. Turnover was 1.16 billion shares valued at RM802.26 million. The broader market was weaker with 590 losers to 164 gainers and 285 stocks unchanged.

Compugates stated the outcome of the proposals was not known yet “and there is no certainty that the company would be awarded those projects”.

It issued the statement after a news report stated the company was expected to clinch several solar-based projects in Sabah worth over RM2 billion, and driving Compugates’ growth for its green renewable energy solutions. The report also stated Compugates was targeting bigger projects in Sabah and would be setting up a plant soon for around RM30 million.

On the plant, Compugates said on Thursday the proposal would hinge on it securing the projects and subject to the conditions in the distributorship and licence and manufacturing agreement entered into with ETI Tech (M) Sdn. Bhd.

“The board of directors of the company has yet to make a decision on the setting up of the plant which is preliminary at this juncture,” it said.



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HDBSVR expects Malaysian market to see resilience

KUALA LUMPUR (Feb 16): HwangDBS Vickers Research said as the consolidation drags on, the Malaysian stock market is expected to show a fair bit of resilience.

“On the chart, the benchmark FBM KLCI will probably tread above its immediate support level of 1,555 ahead,” it said on Thursday.

HDBSVR said major U.S. equity indices lost between 0.5% and 0.8% on Wednesday night amid concerns of possible delays for Greece to secure international bailout funds. This could dampen investors’ sentiment around the region when Asia resumes trading this morning.

The research house said that among the Malaysian stocks that may be actively traded today include:

(a) AirAsia following news report that said it is planning to set up a low-cost carrier to serve the Gulf region;

(b) Prestariang, which has just proposed a single-tier dividend of 4.0 sen per share (implying a yield of 4.3% based on its last done share price of 92 sen); and

(c) Compugates Holdings, as one local media reported that the company is expected to clinch several solar-based projects in Sabah worth over RM2 billion.



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KLCI dips, banks sees mild profit taking

KUALA LUMPUR (Feb 13): Blue chips were marginally lower at midday on Monday, with some mild profit taking seen on bank stocks and Sime Darby, while key regional markets notches small gains after the Greek government approved an austerity bill to secure a second bailout.

At 12.30pm, the FBM KLCI was down 1.79 points to 1,559.87. During the past two weeks, the KLCI had gained nearly 40 points from the 1,521 on Jan 31.

Turnover was 1.62 billion shares valued at RM952.19 million. Decliners led advancers 402 to 350 while 321 stocks were unchanged.

Japan’s Nikkei 225 rose 0.85% to 9,022.78, Hong Kong’s Hang Seng Index added 0.7% to 10,928.50, Shanghai’s Composite Index 0.14% to 2,355.19, Taiwan’s Taiex 0.43% to 7,896.11, South Korea’s Kospi 0.50% to 2,003.73 and Singapore’s Straits Times Index 0.31% to 2,969.1.

US light crude oil rose 93 cents to US$99.60 while Brent crude rose more than US$1 to US$118.35.

At Bursa Malaysia, among the index-linked stocks CIMB fell six sen to RM7.15, Maybank five sen to RM8.47, Public Bank four sen to RM13.96. Sime Darby lost three sen to RM9.64 and Air Asia three sen also to RM3.75.

Crude palm oil third-month futures rose RM28 to RM3,158. OSK Research said with inventory remaining above 2.0 million tonnes and CPO price being range bound, the rally has been driven by liquidity rather than fundamentals.

Far East was the top loser, down 24 sen to RM7.06, United PLANTATION []s 18 sen to RM21.82 and Chin Tek 10 sen to RM8.90.

Naim Indah Corp fell 7.5 sen to 59.5 sen with 125 million shares when it resumed trading after announcing a corporate exercise last Friday. The recent rally was seen as too steep, as the share price was chased up speculators.

Compugates was the most active with 211.66 million shares done, up 1.5 sen to 13.5 sen.

Tebrau Teguh added 5.5 sen to 94.5 sen as investors believed the company was more valuable than the 76 sen offer price made by Iskandar Waterfront Holdings Bhd (IWH).

BAT was the top gainer, adding 66 sen to RM50.96, Genting 20 sen to RM10.50 and MBSB 16 sen to RM2.39. IOI Corp added one sen to RM5.48 and MMHE two sen to RM5.60.



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KL shares mixed at mid-afternoon

Share prices on Bursa Malaysia were mixed at mid-afternoon today as investors remained cautious on progress over the Greece debt talks, dealers said.

At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.1 points lower at 1,562.22. Gainers led losers 537 to 325 while 311 counters were unchanged, 313 untraded and 21 others suspended. A total of 2.25 billion shares worth RM1.62 billion were traded.

The Finance Index rose 40.37 points to 13,862.75 and the Industrial Index gained 1.39 points to 2,906.13 but the Plantation Index fell 31.23 points to 8,893.9.

The FBM Emas Index eased 3.12 points to 10,894.51, while the FBM Mid 70 Index improved 48.73 points to 12,513.45 and the FBM Ace Index added 57.85 points to 4,136.85.

Among active stocks, Metronic Global earned half-a-sen to eight sen, Tebrau Teguh advanced 10 sen to 90.5 sen while Compugates Holdings slipped half-a-sen to 11.5 sen.

For the heavyweights, Maybank increased five sen to RM8.52, while Sime Darby shed two sen to RM9.68 and Petronas Chemicals eased one sen to RM6.99. -- Bernama



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KL shares close higher

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose 0.8 per cent to 1,565.32, its fifth day of gains and the highest close since July 21.

Cahya Mata Sarawak Bhd climbed 3.2 per cent to RM2.28, its highest close since July 27. The construction company’s power-purchase talks with Sarawak Energy Bhd are ongoing and expected to be completed in coming months, Cahya Mata said in an exchange filing.

Compugates Holdings Bhd, a supplier of cellular phones, calculators and digital cameras, fell 4 per cent to 12 sen, the most since Jan. 30. The company isn’t aware of the reasons for the 39 per cent surge in its share price yesterday, it said in a response to a query by the stock exchange.

Malaysian Resources Corp, a property and construction group, dropped 2.2 per cent to RM2.19, its steepest decline since Jan. 12. Fourth-quarter net income slid 37 per cent from a year earlier to RM26.1 million, according to an exchange filing.

Naim Indah Corp, a property developer, surged 37 per cent to 67 sen, its highest close since October 2000. Its major shareholder Crest Energy Sdn Bhd sold a 22.8 per cent stake in the company to a group led by Raymond Chan, Naim Indah said in an exchange filing. The sharp rise in the price and volume prompted the stock exchange to advise investors today to “exercise caution” in trading the stock.

WCT Bhd, a construction group, jumped 7.8 per cent to RM2.78, its highest close since Aug. 17. The company won a RM300 million contract to build government buildings in Kuala Lumpur, WCT said in a statement. -- Bloomberg



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Compugates drops 4%, queried by Bursa

Compugates Holdings Bhd, a supplier of cellular phones, calculators and digital cameras, fell 4 per cent to 12 sen, the most since Jan 30. The company isn’t aware of the reasons for the 39 per cent surge in its share price yesterday, it said in a response to a query by the stock exchange. -- Bloomberg



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Stocks to watch: Kimlun, WCT, JCY, MRCB, Naim Indah

KUALA LUMPUR (Feb 9): With the trading volume surging to fresh highs and the FBM KLCI at a six month high on Wednesday, investors should be ready to take some profit.

Key regional markets had also a strong run on Wednesday and whether the rally can be sustained on Thursday hinges on Greece as its leaders seem nearing a deal to secure a second bailout and avoid a messy default.

Trading volume on Bursa Malaysia surged to a record 4.39 billion units on Wednesday, driven by strong speculative trading in penny stocks while the FBM KLCI hit a six-month high of 1,553 as it played catch-up with regional peers.

Stocks to watch are Kimlun Corporation Bhd, WCT BHD [], JCY International Bhd, MALAYSIAN RESOURCES CORPORATION BHD (MRCB) and NAIM INDAH CORPORATION BHD [].

Kimlun’s unit SPC Industries Sdn Bhd has secured a RM223.18-million contract from Mass Rapid Transit Corporation Sdn. Bhd to supply segmental box girders for the Sungai Buloh to Kajang stretch of the Klang Valley MRT.

WCT secured a RM300.52 million contract for the headquarters of the Ministry of International Trade and Industry from Putrajaya Management Sdn Bhd.

Hard-disk drive manufacturer JCY International Bhd’s earnings surged to a record RM162.45 million in the first quarter ended Dec 31, 2011 from only RM7.51 million a year ago. Its revenue rose 27.3% to RM559.03 million from RM438.90 million a year ago.

MRCB’s net profit fell 37% to RM26.11 million in the fourth quarter ended Dec 31, 2011 (4Q 2011) from RM41.50 million a year ago. It recorded a slightly lower profit before taxation amounting to RM42.5 million for 4Q 2011 compared to RM49.3 million in 4Q 2010.

Its revenue rose 8.6% to RM470.38 million from RM433.12 million. Its earnings per share were 1.88 sen compared with 3.01 sen. It proposed dividend of 2.0 sen a share compared with 1.50 sen a year ago.

For the financial year ended Dec 31, 2011, its net profit rose 15.1% to RM77.46 million from RM67.27 million. Its revenue increased by 13.6% to RM1.213 billion from RM1.067 billion.

Naim Indah Corporation Bhd’s major shareholder Crest Energy Sdn. Bhd had disposed of all its 22.80% stake comprising of 160.06 million shares in the company. The counter hit limit-up and was the second most active on expectations of a turnaround for the company with the entry of new shareholders.

The shares were chased up on expectations of another bout of buying by speculators. However, it remains to be seen if the upward trend and high volume can be sustained.

Bursa Malaysia Securities issued an unusual market activity (UMA) query to COMPUGATES HOLDINGS BHD [] on Wednesday. The query was due to the sharp rise in price and high volume in the company’s shares. Compugates rose 3.5 sen to 12.5 sen with 451.47 million shares done.



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Malaysian market sees record volume, KLCI at 6-month high

KUALA LUMPUR (Feb 8): Trading volume on Bursa Malaysia surged to a record 4.39 billion units on Wednesday, driven by strong speculative trading in penny stocks while the FBM KLCI hit a six-month high of 1,553 as it played catch-up with regional peers.

At the close, the KLCI was up 14.41 points or 0.94%, aided by late buying of Tenaga, to 1,553.18 – the highest since Aug 2, 2011. Turnover was 4.39 billion shares valued at RM3.29 billion units. There were 593 gainers, 322 losers and 293 stocks unchanged.

Regional markets also put up a strong performance, with Japan’s Nikkei 225 up 1.10% to 9,015.59, Hong Kong’s Hang Seng Index rose 1.54% to 21,018.40, Shanghai’s Composite Index added 2.43% to 2,347.53.

Taiwan’s Taiex added 2.11% to 7,869.91, South Korea’s Kospi 1.12% to 2,003.73 and Singapore’s Straits Times Index 0.83% to 2,982.20.

In Europe, Britain's top share index rose in early deals with miners led up by metal prices and UK banks rallying as Citigroup kept its bullish stance on the sector, while the expectations of a Greek debt deal lingered in the background.

London's blue chip index rose 12.37 points, or 0.2% to 5,902.36 by 0932 GMT, pushing ahead after consolidating recent gains over the previous two trading days.

At Bursa Malaysia, the market got off to a staring start after an extended weekend, as speculators and investors were also quick to rush in to pick up riskier assets.

Among the index-linked stocks, Tenaga was the top mover performer, pushing the KLCI up by 4.99 points when it climbed 39 sen to RM6.38 while Sime Darby added 22 sen to RM9.68, pushing the index up by 3.12 points.

Among the banks, Public Bank rose 20 sen to RM13.96, CIMB 11 sen to RM7.11 and Maybank eight sen to RM8.41, pushing the KLCI up by a cumulative 5.59 points.

PPB was the top performer, rising 52 sen to RM17.72, Petronas Dagangan and Batu Kawan 50 sen each to RM18.86 and RM19.90. Hartalega added 33 sen to RM7.98.

Naim Indah jumped 31 sen to 49 sen with 267.36 million units done on expectations of a new major shareholder. Bursa Malaysia, which will announce its results on Thursday, added 30 sen to RM7.50.

Compugates was the most active with 451.47 million units done, prompting a query from the Bursa Malaysia Securities. It rose 3.5 sen to 12.5 sen.

GENTING BHD [] fell the most, down 50 sen to RM10.50 and Genting Malaysia 20 sen to RM3.81. RHB Research Institute said it was maintaining its Outperform recommendation on Genting Malaysia and its sum-of-parts fair value of RM4.20.

F&N was down 30 sen to RM17.30 after announcing lower first quarter earnings.



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KL shares mixed at mid-afternoon

KUALA LUMPUR: shares prices on Bursa Malaysia remained mixed at mid-afternoon today on continued profit taking activities ahead of the weekend, dealers said.

At 3.03pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 3.11 points to 1,520.75, pulled down by key bluechips, including CIMB, Maybank and Genting.

A dealer said with Wall Street looking to consolidate following the recent disappointing housing data in the United States, it caused investors to remain sidelined.

However, market remained active, with 1.485 billion shares worth RM1.11 billion, changing hands.

Gainers led losers 376 to 348 while 314 counters were unchanged.

The Finance Index lost 28.54 points to 13,468.07, while the Plantation Index advanced 8.46 points to 8,735.67 and the Industrial Index added 0.75 of a point to 2,793.45.

The FBM Emas earned 2.66 points to 10,577.27, the FBM Mid 70 surged 78.45 points to 12,140.47 and the FBM Ace rose 23.01 points to 4,473.41.

Among active stocks, Compugates Holdings advanced 0.5 sen to nine sen, DRB-Hicom increased eight sen to 14 sen while The Media Shoppe eased 0.5 sen to 11 sen.

Of the heavyweights, Maybank fell three sen to RM8.19, Sime Darby shed one sen to RM9.07, while Petronas Chemicals was flat at RM6.67. - Bernama



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KL shares continue downtrend

Shares on Bursa Malaysia continued their downtrend at midafternoon today as investors reduced their positions ahead of the extended weekend, dealers said.

At 3pm, the FBM KLCI declined 3.62 points or 0.24 per cent to 1,515.74, led by losses in selected heavyweights and financial stocks on lingering concern over the euro zone debt crisis. It had opened 2.27 points lower at 1,517.09. Losses were limited amid investors' interest on smaller cap stocks.

On the broader market, sentiment remained bearish with losers leading gainers 358 to 305 while 303 counters unchanged. Volume totalled 880.63 million shares worth RM749.48 million.

The Finance Index slipped 32.26 points to 13,401.68, the Industrial Index declined 4.65 points to 2,775.36 while the Plantation Index advanced 33.11 points to 8,484.93.

The FBM Emas slid 16.45 points to 10,465.41 while the FBM Mid 70 added 22.95 points to 11,794.04 and the FBM ACE increased 10.68 points to 4,286.33.

Among active stocks, DBE Gurney rose one sen to 10 sen, DBE Gurney-Warrants up 1.5 sen to 6.5 sen while Compugates was unchanged at 7.5 sen. For the heavyweights, Maybank fell eight sen to RM8.21, CIMB lost six sen to RM7.10 while Sime Darby was flat at RM9.10.

Bursa Malaysia will be closed on Monday and Tuesday for the Chinese New Year celebrations. -- Bernama



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KL shares remain bearish at mid-morning

Shares on Bursa Malaysia remained lower at mid-morning today amid lack of buying ahead of the Chinese New Year long weekend, dealers said.

At 10.45am, the underlying FBM KLCI declined 4.32 points or 0.28 per cent to 1,515.04 amid selling in selected heavyweights including Tenaga Nasional, Maybank and CIMB.

It had opened 2.27 points lower at 1,517.09.

TNB was among the top losers after reporting RM224.7 million net losses for the first quarter ended November 2011 against RM716.5 million net profit in the same quarter a year ago. It dropped 13 sen or 2.09 per cent to RM6.10 with 721,600 shares done.

Market breadth was moderate with losers outpacing gainers 242 to 238.

Volume amounted to 500.98 million valued at RM286.79 million.

The Plantation Index increased 19.52 points to 8,471.34 and the Industrial Index rose 0.76 point to 2,780.77. The Finance Index fell 46.79 points to 13,387.15. The FBM Emas also declined 19.22 points to 10,462.64. However, the FBM Mid 70 gained 13.94 points to 11,785.03 and the FBM Ace added 11.87 points to 4,287.52.

Among active counters, DBE Gurney rose one sen to 10 sen, DBE Gurney-Warrants added 1.5 sen to 6.5 sen and Compugates was half sen higher at eight sen.

For the heavyweights, Maybank slid nine sen to RM8.20, CIMB lost six sen to RM7.10 while Sime Darby was unchanged at RM9.10. -- BERNAMA



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KL shares higher at mid-afternoon

Shares on Bursa Malaysia were traded higher at mid-afternoon session Tuesday, tracking positive regional sentiments, dealers said.

At 3pm, the underlying FTSE Bursa Malaysia KLCI gained 3.60 points or 0.24 per cent to 1,512.66, after opening 0.55 point higher at 1,509.61.

A dealer said further gains were capped by losses on plantation counters on concerns over the euro zone debt crisis, higher-than-expected edible oil supplies and weak exports.

Furthermore, there are no positive news to spark fresh buying interest, the dealer said, adding that trading is likely to remain light ahead of the Chinese New Year holidays.

On the broader market, sentiments were bearish, with losers leading gainers 329 to 307 while 324 counters were unchanged. Turnover totalled 869.14 million shares worth RM949.81 million.

Proton was the actively-traded counter after Khazanah announced yesterday it was divesting its 42.7 per cent Proton stake to DRB-Hicom for RM5.50 per share or RM1.29 billion cash. Proton jumped 25 sen or 4.83 per cent to RM5.43.

Maybulk-Call Warrant gained six sen to 32 sen, E&O-Call Warrant rose three sen to 11.5 sen, while Compugates lost half a sen to 7.5 sen.

Among heavyweights, Maybank slid one sen to RM8.18, CIMB slipped three sen to RM7.16, while Sime Darby added one sen to RM9.09.

Bursa Malaysia's Finance Index rose 5.60 points to 13,378.32, the Industrial Index added 1.61 points to 2,776.79, while the Plantation Index slipped 4.81 points to 8,423.96.

The FTSE Bursa Malaysia Emas Index added 24.91 points to 10,439.22, the FTSE Bursa Malaysia Mid 70 Index jumped 31.78 points to 11,743.31 and the FTSE Bursa Malaysia Ace Index was 4.47 points higher at 4,269.96. -- Bernama



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KL shares remain bullish at midmorning

Share prices on Bursa Malaysia remained positive at midmorning today amid steady key regional markets, dealers said.

At 11am, the FBM KLCI gained 2.14 points or 0.14 per cent to 1,511.20 after opening 0.55 point higher at 1,509.61.

The Finance Index rose 0.20 of a point to 13,372.92, the Industrial Index was up 4.72 points to 2,779.90 while the Plantation Index declined 14.22 points to 8,414.55.
The FBM Emas Index added 16.08 points to 10,430.39, the FBM Mid 70 Index gained 26.40 points to 11,737.93 and the FBM ACE Index was 4.65 points higher at 4,270.14.

Gainers led losers 243 to 242 while 278 counters traded unchanged. Volume was 526.19 million shares valued at RM536.79 million.

Proton advanced 26 sen to RM5.44 with 46.37 million shares traded after Khazanah announced it was divesting the 42.7 per cent Proton stake to DRB-Hicom for RM5.50 per share or RM1.29 billion cash.

Compugates shed half a sen to 7.5 sen, DRB-Call Warrant slipped 2.5 sen to 12.5 sen while Proton-Call Warrant rose one sen to 52.5 sen.

For the heavyweights, Maybank was unchanged at RM8.19, Sime Darby rose one sen to RM9.09 while CIMB lost two sen to RM7.17. -- BERNAMA



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KL shares remain bullish at midmorning

Share prices on Bursa Malaysia remained positive at midmorning today amid steady key regional markets, dealers said.

At 11am, the FBM KLCI gained 2.14 points or 0.14 per cent to 1,511.20 after opening 0.55 point higher at 1,509.61.

The Finance Index rose 0.20 of a point to 13,372.92, the Industrial Index was up 4.72 points to 2,779.90 while the Plantation Index declined 14.22 points to 8,414.55.
The FBM Emas Index added 16.08 points to 10,430.39, the FBM Mid 70 Index gained 26.40 points to 11,737.93 and the FBM ACE Index was 4.65 points higher at 4,270.14.

Gainers led losers 243 to 242 while 278 counters traded unchanged. Volume was 526.19 million shares valued at RM536.79 million.

Proton advanced 26 sen to RM5.44 with 46.37 million shares traded after Khazanah announced it was divesting the 42.7 per cent Proton stake to DRB-Hicom for RM5.50 per share or RM1.29 billion cash.

Compugates shed half a sen to 7.5 sen, DRB-Call Warrant slipped 2.5 sen to 12.5 sen while Proton-Call Warrant rose one sen to 52.5 sen.

For the heavyweights, Maybank was unchanged at RM8.19, Sime Darby rose one sen to RM9.09 while CIMB lost two sen to RM7.17. -- BERNAMA



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KLCI extends loss for second day, falls below 1,510-level

KUALA LUMPUR (Jan 16): The FBM KLCI extended its losses on Monday and fell below the 1,510-point level in line with the overall weaker investor sentiment at key regional markets following Standard & Poor’s cutting the sovereign credit rating of nine of the euro zone's 17 countries.

The FBM KLCI fell 14.01 points to 1,509.06.

Losers beat gainers by 542 to 207, while 289 counters traded unchanged. Volume was 1.44 billion shares valued at RM1.36 billion.

Meanwhile, European stocks pared early losses and turned flat in morning trade as gains in defensive shares offset a drop in banking stocks following a mass credit rating downgrade by S&P of euro zone countries, according to Reuters.

The US markets are closed on Monday to observe the Martin Luther King Jr Day holiday.

At the regional markets, the Shanghai Composite Index fell 1.71% to 2,206.19, Japan’s Nikkei 225 lost 1.43% to 8,378.36, Taiwan’s Taiex was down 1.09% to 7,103.62, Hong Kong’s Hang Seng Index fell 1% to 19,012.20, South Korea’s Kospi shed 0.87% to 1,859.27 and Singapore’s Straits Times Index lost 1.26% to 2,756.49.

Royal Bank of Scotland analysts said that overall, while the market impact of the downgrades was unlikely to be very significant in the short term, they serve as a stark reminder that the euro area sovereign crisis is here to stay.

In a note Jan 16, the analysts said that more importantly, these downgrades were likely to solidify expectations that neither the EFSF nor the ESM will be able to maintain their AAA rating.

“This in turn is likely to make any significant increase in the lending capacity of either institution more difficult.

“We continue to expect the crisis to deepen eventually leading to further widening in spreads across countries vis-à-vis Germany,” they said.

On Bursa Malaysia, BAT was the top loser and fell 46 sen to RM49.30; Genting lost 32 sen to RM10.56, Dutch Lady and GAB down 28 sen each to RM25.50 and RM11.70, F&N down 22 sen to RM18.68, Batu Kawan 20 sen to RM18.60, Petronas Dagangan and UMW 18 sen each to RM17.22 and RM6.81, while Parkson and Genting PLANTATION []s fell 17 sen each to RM5.53 and RM8.94.

Compugates was the most actively traded counter with 157.2 million shares done. The stock added one sen to 8 sen.

Other actives included UOA Development, Hovid, Asia Media, CIMB and RedTone.

Among the gainers, Maybulk rose 23 sen to RM2.11, Eupe and GUH 18 sen each to 63 sen and RM1.38, UOA Development 17 sen to RM1.58, Can-One 14 sen to RM2.02, Tasek and Far East up 10 sen each to RM8 and RM7, while SHL and Kian Joo added nine sen each to RM1.30 and RM2.25.



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KLCI falls further at mid-day break, sentiment stays weak

KUALA LUMPUR (Jan 16): The FBM KLCI fell below the 1,520-point level on Monday as key regional markets retreated, spooked by Standard & Poor’s cut of the sovereign debt rating of nine of the euro zone's 17 countries.

At the mid-day break, the FBM KLCI fell 11.15 points to 1,511.92, weighed by losses at select blue chips including Genting, Petronas Dagangan and Genting PLANTATION []s.

Market breadth was negative with losers beating gainers by 486 to 141, while 256 counters traded unchanged.

The ringgit weakened 0.51% to 3.1481 versus the US dollar; crude palm oil futures fell RM23 per tonne to RM3,125, crude oil gained 18 cents per barrel to US$98.88 while gold slipped US$1.60 an ounce to US$1,637.40.

Asian markets fell as worries that European financial troubles would hurt the global economy and sap appetite for commodities weighed on industrial metals such as copper, while a shift to perceived safe haven assets boosted Japanese government bonds, according to Reuters.

Japan’s Nikkei 225 fell 1.54% to 8,369.23, Hong Kong’s Hang Seng Index lost 0.95% to 19,021.80, South Korea’s Kospi was down 1.56% to 1,846.43, Singapore’s Straits Times Index lost 1.25% to 2,756.74, Taiwan’s Taiex fell 0.87% to 7,118.79 and the Shanghai Composite Index shed 0.56% to 2,231.98.

On Bursa Malaysia, Dutch Lady and BAT fell 52 sen each to RM25.26 and RM49.24, Genting down 24 sen to RM10.64, Milux 21 sen to RM1.23, Petronas Dagangan 20 sen to RM17.20, F&N 18 sen to RM18.72, Degem 16 sne to 90 sen, Parkson 15 sen to RM5.55, Genting Plantations 13 sen to RM8.98 while Mentiga fell 12.5 sen to 67 sen.

Compugates was the most actively traded counter with 114.1 million shares done. The stock added one sen to 8 sen.

Other actives included Asia Media, Ingenuity Solutions, RedTone, Digistar, Can-One, YTL Land, Hubline and Hovid.

Gainers included Can-One, Supermax, Far East, Tasek, Kian Joo, Eng Kah and Aeon.



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KL shares remain weak at midmorning

Share prices on Bursa Malaysia remained weak at midmorning today amid bearish sentiment in the global market on renewed worries over the euro zone debt crisis, dealers said.

At 10.45am, the underlying FBM KLCI declined 9.79 points or 0.64 per cent to 1,513.28 after opening 2.68 points lower at 1,520.39.

Trading was bearish with 399 losers and 115 losers while 219 counters traded unchanged.

Volume was 459.44 million shares valued at RM243.59 million.

A dealer said investors turned wary of risk after credit rating downgrades for nine euro zone economies including France, Italy and Spain.

On Bursa Malaysia, the Finance Index fell 83.22 points to 13,368.45, the Plantation Index dropped 56.14 points to 8,449.84 and the Industrial Index slid 14.85 points to 2,783.17.

The FBM Emas Index declined 70.04 points to 10,442.36, the FBM Mid 70 Index dwindled 91.53 points to 11,746.99 and the FBM ACE Index decreased 36.19 points to 4,264.28.

Among volume leaders, Compugates wsa up one sen to eight sen, Asia Media rose 5.5 sen to 35 sen and Digistar gained two sen to 48.5 sen.

Among heavyweights, Maybank slipped six sen to RM8.20, Sime Darby dipped five sen to RM9.10 and CIMB fell seven sen to RM7.20. -- BERNAMA



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KL shares steadier at mid-afternoon

Share prices on Bursa Malaysia were steady amid rotational play during mid-afternoon trade today, dealers said.

At 3.30pm, the FBM KLCI stood 1.45 points lower at 1,524.11 after opening 2.3 points higher at 1,525.68.

The Finance Index rose 2.710 points to 13,461.45 but the Industrial Index lost 3.27 points to 2,806.52 and the Plantation Index dropped 31.66 points to 8,508.45.

The FBM Emas Index was up 3.619 points to 10,520.1, the FBM 70 Index was 60.17 points higher at 11,852.11 while the FBM Ace fell 26.49 points to 4,271.43.

Decliners led advancers 381 to 315 while 340 counters were unchanged, 456 untraded and 23 suspended. Turnover stood at 1.239 billion shares worth RM946.037 million.

Among volume leaders, Compugates Holdings gained five sen to 6.5 sen, Drbhcom-CF added 5.5 sen to 14.5 sen and Drbhcom-CI appreciated 2.5 sen to 4.5 sen.

As for the heavyweights, Maybank added three sen to RM8.28, Sime Darby declined one sen to RM9.15 and CIMB eased four sen to RM7.26. -- Bernama



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Limited gains at Asian markets as Spanish, Italy bond sale euphoria fizzles out

KUALA LUMPUR: The FBM KLCI remained relatively muted at the mid-day break while gains at key regional markets appeared capped as the initial euphoria over the successful bond sales in Spain and Italy fizzled out.

The FBM KLCI shed 0.17 of a point to 1,525.39 at the mid-day break.

Gainers trailed losers by 295 to 329, while 320 counters traded unchanged. Volume was 814.47 million shares valued at RM585.57 million.

The ringgit strengthened 0.37% to 3.1305 versus the US dollar; crude palm oil futures for the third month delivery fell RM55 per tonne to RM3,154, crude oil rose 55 cents per barrel to US$99.65 while gold lost US$8.50 an ounce to US$1,641.75.

At the regional markets, Japan’s Nikkei was up 0.96% to 8,465.69, Singapore’s Straits Times Index added 0.76% to 2,764.45, South Korea’s Kospi gained 0.42% to 1,872.47 and Taiwan’s Taiex rose 0.22% to 7,202.13.

Meanwhile, the Shanghai Composite Index fell 1.77% to 2,234.81 and Hong Kong’s Hang Seng Index shed 0.03% to 19,089.40.

On Bursa Malaysia, United PLANTATION []s fell 40 sen to RM19.60, Iretex down 23 sen to 94 sen, F&N down 14 sen to RM18.86, BAT 12 sen to RM49.72, Advanced Packaging 11 sen to RM1.19, Dutch Lady and GAB down 10 sen each to RM26 and RM11.96, while Cview fell 8.5 sen to 59.5 sen.

Compugates was the most actively traded counter with 40 million shares done. The stock gained half a sen to 6.5 sen.

Other actives included Utopia, Proton, Takaso, Berjaya Corp and Nextnation.

Gainers included Malayan Flour Mills, Supermax, Hartalega, Pos Malaysia, Carlsberg, MBM Resources, Kian Joo, Tenaga and Can-One.



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