KLCI dips to below 1,580-level, blue chips drag

KUALA LUMPUR (April 25): The FBM KLCI closed below the 1,580-point level on Wednesday, reversing its gains earlier in the morning session, weighed by losses including Genting, Tenaga, CIMB, KLK and Petronas Dagangan.

The index fell 2.93 points to 1,579.35.

Market breadth was weak with 405 losers, 315 gainers and 346 counters trading unchanged. Volume was 1.47 billion shares valued at RM1.53 billion.

Meanwhile, global shares rose on Wednesday ahead of the U.S. Federal Reserve's policy meeting, due mainly to signs of good demand for euro zone sovereign debt before a German bond sale, and some strong corporate earnings, according to Reuters.

Markets could take their cues from several planned public speeches by European Central Bank officials, which will be scrutinised for any signs it would consider more liquidity operations if the euro zone's problems worsened, it said.

At the regional markets, Japan’s Nikkei 225 rose 0.98% to 9,561.01, Taiwan’s Taiex added 0.86% to 7,563.18, and the Shanghai Composite Index gained 0.75% to 2,406.81 and Singapore’s Straits Times Index added 0.20% to 2,980.19.

Meanwhile, Hong Kong’s Hang Seng Index lost 0.15 % to 20,646.29 and South Korea’s Kospi shed 0.07% to 1,961.98.

Among the decliners on Bursa Malaysia, BAT fell 28 sen to RM55.12, KLK and TH PLANTATION []s lost 16 sen each to RM23.82 and RM2.65, CSL down 15 sen to RM1.48, UMS 14 sen to RM1.66, Yeo Hiap Seng 13 sen to RM2.88, Toyo Ink, Tanjung Offshore and MMC Corp down 12 sen each to RM1.36, 78 sen and RM2.62 respectively, while Quality Concrete lost 11 sen to RM1.24.

Utopia was the most actively traded counter with 186.1 million shares done. The stock added one sen to 9.5 sen.

Other actives included Ariantec, Ramunia, CSL, Metronic, Astral Supreme, HWGB and JCY.

Meanwhile, the gainers included Panasonic, UMWE, The Store, NSOP, SPB, Batu Kawan, Cepco, TDM and Scientex.



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KLCI struggles but stays above 1,580-level

KUALA LUMPUR (APRIL 23): The FBM KLCI struggled to remain above the important 1,580-level on Monday after having succumbed more than 8 points to fall below the 1,590-level.

Asian shares trended lower as political developments in France and the Netherlands raised fears about the region's commitment to tackle its ongoing debt crisis, according to Reuters.

The FBM KLCI lost 8.05 points to close at 1,583.80, weighed by losses including at CIMB, Genting, BAT, Tenaga, Telekom and RHB Capital.

Europe's top shares opened lower on Monday on the political concerns, but attention was expected to switch to the economy, with euro zone manufacturing activity indicators due out later after data from China showed some signs of recovery in factory output but not enough to prevent the sector contracting, said Reuters.

At the regional markets, Hong Kong’s hang Seng Index lost 1.84% to 20,634.39, Singapore’s Straits Times Index lost 1.11% to 2,961.18, the Shanghai Composite Index fell 0.76% to 2,388.59, Taiwan’s Taiex was down 0.35% to 7,481.09, and Japan’s Nikkei 225 shed 0.20% to 9,542.17, whiel South Korea’s Kospi edged down 0.10% to 1,972.63.

Among the major losers on Monday, BAT fell 98 sen to RM55.540, Aeon and Jaya Tiasa fell 21 sen each to RM9.20 and RM9.76, Genting 18 sen to RM10.62, Boustead 17 sen to RM5.28, Bumi Armada and CSL 16 sen each to RM4.31 and RM1.49, Warisan and Nestle down 14 sen each to RM2.34 and RM55.84, while Subur Tiasa fell 13 sen to RM2.95.

Other decliners included CIMB and Telekom that fell five sen each to RM7.50 and RM5/37, whiel RHB Capital and Tenaga lost four sen each to RM7.39 and RM6.48.

Araiantec was the most actively traded counter with 396.6 million shares done. The stock gained two sen to 24 sen.

Other actives included Metronic, Asral Supreme, Focus, Naim Indah Corp, JCY and Jotech.

Advancing stocks included Petronas Dagangan, Aeon Credit, United PLANTATION []s, Dutch Lady, Kencana, SapuraCrest, Manulife, Litrak and BIntulu Port.



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China Stationery erases gains, up 5% in early trade

KUALA LUMPUR (April 20) : China Stationery Ltd shares rose as much as 5% on Friday morning before erasing gains to trade in the red after regulators queried the firm on the unusual trading patterns of the company’s shares.

The stock added eight sen to RM1.71 before trading lower at RM1.54 at 10.18am. China Stationery, one of the most-actively traded, saw some 20 million shares done,

In its response to Bursa Malaysia’s query, China Stationery said it is not aware of any factors contributing to the rise in the price and volume of the stock.

The firm also said it has no plans to declare an interim dividend and undertake a dual listing in Hong Kong.



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Stocks to Watch Bursa, China Stationery, UMW, CMMT, Naim

KUALA LUMPUR (April 19): Economic and political factors, besides weakening technical indicators, could dictate the direction of Malaysian stocks on Friday, as investors evaluate the impact of global economic data against domestic pre-election sentiment.

Analysts said the on-going European debt crisis and slower growth in China, apart from the anticipation of Malaysia's coming general election, could lead to persistent selling pressure in the FBM KLCI.

The FBM KLCI of 30 stocks erased earlier gains to finish in the red at 1,596.62, down 2.24 points on Thursday.

Stocks to watch on Friday are BURSA MALAYSIA BHD [], China Stationery Ltd, UMW HOLDINGS BHD [], Capitamalls Malaysia Trust (CMMT) and Naim Holdings Bhd.

Bursa posted flat profit growth in the first quarter (1Q), as the stock exchange operator's lower operating expenses mitigated the impact of less revenue during the period. Bursa said its net profit rose 0.7% to RM40.77 million in the quarter ended March 31, 2012 from RM40.49 million a year earlier, while revenue fell 4.8% to RM110.52 million from RM116.11 million.

Regulators have queried China Stationery on the unusual trading patterns of the company's shares. The company said it was not aware of any factors contributing to the rise in the price and volume of the stock. China Stationery also said it had no plans to declare an interim dividend nor undertake a dual listing in Hong Kong.

AmResearch Sdn Bhd had raised its earnings forecast for UMW, an automotive and oil and gas support services entity, by up to 25% for financial years ending Dec 31, 2012 to 2014. AmResearch also revised upwards its target price for the stock by 31% to RM8.90 from RM6.80, and upgraded the shares to a "buy" from "hold".

CMMT's 1Q net profit rose 10% from a year earlier, as the retail-based Real Estate Investment Trust (REIT) registered higher revenue, following the inclusion of the East Coast Mall in Kuantan to the group's portfolio. CMMT said net profit came to RM34.44 million against RM31.44 million previously, while revenue was up 36% to RM71.4 million from RM52.68 million.

Real estate developer and builder Naim is diversifying into the healthcare business via a collaboration with KPJ HEALTHCARE BHD []. Both Naim and KPJ will set up a joint venture company on 30% and 70% basis respectively to construct and operate a hospital in Miri, Sarawak.



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KLCI closes lower as investors remain jittery

KUALA LUMPUR (April 19): The FBM KLCI closed lower on Thursday, in line with the mixed sentiment at regional bourses underpinned by concerns of the Euro zone sovereign debt crisis.

Markets have grown jittery about the euro zone's capacity to prevent Spain's fiscal woes in particular from spreading to other vulnerable peripheral euro zone economies, despite massive liquidity injections by the European Central Bank, according to Reuters.

The FBM KLCI shed 2.24 points on Thursday to close at 1,596.62.

Market breadth turned negative with 429 losers, 281 gainers and 350 counters trading unchanged. Volume was 1.71 billion shares valued at RM1.56 billion.

At the regional markets, Japan’s Nikkei 225 fell 0.82% to 9.588.38, South Korea’s Kospi down 0.23% to 1,999.86 and the Shanghai Composite Index shed 0.09% to 2,378.63.

Meanwhile, Taiwan’s Taiex gained 0.23% to 7,622.69.

On Bursa Malaysia, Dutch Lady fell 60 sen to RM34.38, KLK down 40 sen to RM23.80, BAT shed 20 sen to RM55, Country View down 18 sen to 64 sen, CSL 15 sen to RM1.53, SAM Engineering 14 sen to RM3.65, Tradewinds and KESM down 13 sen each to RM9.69 and RM2.05, while Subur Tiasa lost 10 sen to RM2.98.

Ariantec was the most actively traded couter with 266.8 million shares done. The stock fell 1.5 sen to 17.5 sen.

Other actives included Utopia, CSL, Metronic, DBE Gurney, Compugates, Managed Pay, Iris Corp and Astral Supreme.

Gainers on Thursday included Pintaras, F&N, GAB, Metal Reclamation, Tan Chong, Can-One, Kian Joo, Bintulu Port and Genting.



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KLCI slips into the red at mid-day break

KUALA LUMPUR (April 19): The FBM KLCI gave up some ground to slip into negative territory at the mid-day break on Thursday, in line with the generally tepid sentiment at key regional markets.

Asian shares and the euro traded in tight ranges on Thursday ahead of a Spanish bond sale seen as a key test of investors' risk appetite amid renewed concerns over the euro zone's debt crisis, according to Reuters.

Meanwhile, U.S. stocks slipped on Wednesday, a day after Wall Street's best gains in a month, as uninspiring earnings from tech bellwethers IBM and Intel gave investors a reason to take profits, according to Reuters

The FBM KLCI fell 2.80 points to 1,596.06 at 12.30pm, weighed by losses at select blue chips including CIMB, KLK, Maybank and Genting.

Losers beat gainers by 358 to 221, while 311 counters traded unchanged. Volume was 1.02 billion shares valued at RM661.94 million.

The ringgit weakened 0.13% to 3.0686 versus the greenback, crude palm oil futures for the third month delivery fell RM30 per tonne to RM3,449, crude oil shed 11 cents per barrel to US$102.56 while gold lost US$4.50 an ounce to US$1,637.60.

At the regional markets, Japan’s Nikkei 225 fell 0.89% to 9,580.90, the Shanghai Composite Index down 0.14% to 2,377.57, Singapore’s Straits Times Index fell 0.08% to 2,998.17, south Korea’s Kospi lost 0.33% to 1,997.92, Taiwan’s Taiex edged down 0.01% to 7,604.367 while Hong Kong’s Hang Seng Index gained 0.36% to 20,856.40.

Among the major losers on Bursa Malaysia, Dutch Lady lost 38 sen to RM34.60, KLK 24 sen to RM23.96, Country View 21 sen to 61 sen, Tradewinds 16 sen to RM9.66, KESM and SAM Engineering down 12 sen each to RM2.06 and RM3.67, CSL 10 sen to RM1.68, Subur Tiasa eight sen to RM3 and Nice seven sen to 31 sen.

Meanwhile, CIMB lost three sen to RM7.64, Maybank and Genting down two sen each to M8.85 and RM10.80, and DiGi was down one sen to RM3.92.

Ariantec was the most actively traded counter with 143.99 million shares done. The stock was unchanged at 19 sen.

Other actives included Utopia, CSL, metronic, DBE Gurney, Compugates, Iris Corp and Astral Supreme.

Gainers included Can-One, Tan Chong, F&N, Pintaras, Jaya Tiasa, Bintulu Port, Aeon Credit, Utusan and GAB.



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Bursa queries China Stationery

KUALA LUMPUR (April 19): Bursa Malaysia Securities Bhd has issued an unusual market activity (UMA) query to China Stationery Ltd over the sharp rise in the price and high volume in the company’s shares recently.

Ariantec was the among the most actively traded stocks in the morning session on Thursday on Bursa Malaysia with 315.47 million shares done.

The stock rose 14 sen to RM1.64 with 65.36 million shares done at 11.42am.



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KLCI struggles to breach 1,600-mark

KUALA LUMPUR (APRIL 17): The FBM KLCI stayed in positive territory in the morning session on Tuesday, but struggled to breach the 1,600-point mark as regional markets mostly retreated on mounting concerns over the euro zone sovereign debt crisis.

Asian shares were capped while the euro fell on Tuesday, as soaring Spanish borrowing costs underscored the fading impact of the European Central Bank's bond purchases and stoked investor nervousness over euro zone debt woes, according to Reuters.

The FBM KLCI was up 0.69 of a point to 1,598.20 at the mid-day break.

Gainers trailed losers by 283 to 278, while 322 counters traded unchanged. Volume was 1.2 billion shares valued at RM669.23 million.

The ringgit strengthened 0.03% to 3.0665 versus the greenback, crude palm oil futures for the third month delivery fell RM2 per tonne to RM3,485, crude oil was unchanged at US$102.93 per barrel while gold fell US$2.63 an ounce to US$1,649.25.

At the regional markets, Japan’s Nikkei 225 edged up 0.11% top 9,480.84 while Taiwan’s Taiex fell 1.61% to 7,605.13, Hong Kong’s hang Seng Index lost 0.58% to 20,490.90, Singapore’s Straits Times Index was down 0.39% to 2,980.57, South Korea’s Kospi shed 0.30% to 1,986.75 and the Shanghai Composite Index inched down 0.18% to 2,352.72.

Mybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Tuesday said the FBM KLCI dropped 5.61 points to close at 1,597.51 on Monday.

“Its resistance areas of 1,597 and 1,609 may cap market gains, whilst the obvious support areas are located at 1,580 and 1,594,’ he said.

He said despite the US markets’ mixed tone last night, Bursa Malaysia could be in for a low-volume trading day.

“From the 1,310.53 low (Sept 2011), the market has surged past its previous resistance of 1,597.08 to stall at 1,600.33 (On April 3).

“Bearish divergence is ample and investors may liquidate on rallies,” he said.

SAM Engineering was the top gainer in the morning session and rose 41 sen to RM3.60, Hartalega added 16 sen to RM8.12, CSL 14 sen to RM1.62, Far East and Subur Tiasa gained 10 sen each to RM7.60 and RM2.73, Rapid nine sen to RM2.54, Carlsberg eight sen to RM10.90, MBSB and Lafarge Malayan Cement gained seven sen each to RM2.23 and RM7.29, while Golsta was up 6.5 sen to 59.5 sen.

Among the decliners, Dutch Lady fell 46 sen to RM23.70, SMPC fell 25 sen to RM1.08, Nestle down 16 sen to RM55.84, Sarawak Oil Palms lost 13 sen to RM6.81, Iretex 12 sen to RM1, Knusford and Bintulu Port fell 10 sen each to RM1.80 and RM6.90, while MalPac and Ta Ann lost nine sen each to RM1.49 and RM6.60.

Ariantec was the most actively traded counter with 315.47 million shares done. The stock rose 5.5 sen to 17 sen.

Other actives included Metronic, Focus, Ingenuity Solutions, SuperComNet, Naim Indah Corp and JCY.



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FBM KLCI extends gains in morning trade

KUALA LUMPUR (March 15) : The Malaysian stock market benchmark rose in morning trade on Thursday, extending its 12-point gain from a day earlier amid more favourable economic updates from the US.

Analysts, however, cautioned that the 30-stock FBM KLCI is likely to consolidate due to less investor participation during the school holidays.

“Despite the improved external outlook, the local market is likely to remain in consolidation mode near-term given the limited investor participation during the school holidays as most market players remain sidelined, TA Securities Holdings Bhd wrote in a note on Thursday.

At 9.37am, the FBM KLCI rose 2.53 points to 1578.24. Across the local bourse, some 200 million shares worth RM137 million changed hands, leading to 163 gainers versus 130 decliners while 193 stocks were unchanged.

Top gainers include PETRONAS DAGANGAN BHD [] which added 32 sen to RM18.78 and AEON CREDIT SERVICE (M) BHD [] which was up 28 sen to RM8.63.

Decliners include KUALA LUMPUR KEPONG BHD [] which fell 14 sen to RM23.16 and Focus Point Holdings Bhd which was down 11 sen to19 sen,

Most active was FOCUS DYNAMICS TECHNOLOGIES [] Bhd which rose two sen to 19 sen with some 36 million shares done followed by China Stationery Ltd which added one sen to RM1.05 with about 15 million units changing hands.

Across Asia,Japan’s Nikkei 225 rose 0.88% to 10,139.4 points while Australia’s S&P/ASX 200 declined 0.34% to 4,272.6 . Nearer to home, Singapore ‘s Straits Times was down 0.07% to 3,024.32.



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KLCI lags key regional markets’ recovery

KUALA LUMPUR (March 8): Key regional markets racked up gains of up to more than 2% on Thursday, as investors’ sentiment was boosted by hopes that Greece could avert a default and positive news on the US economy.

However, the FBM KLCI lagged the regional markets and managed to close up only 3.53 points or 0.22% to 1,578.36, after falling 15.08 points – the worst loss for this year – on Wednesday. Turnover was 1.77 billion shares valued at RM1.76 billion. Advancing counters beat decliners 415 to 336 while 339 stocks were unchanged.

Reuters reported that in Europe, indications are major banks and pension funds are likely to take part in the Greek deal, easing concerns about a chaotic default. But some hedge funds and Greek pension funds are still holding out, injecting uncertainty before the deadline expires later in the day.

Greece aims to persuade 90% of creditors to take part in the bond swap. With two-thirds acceptance or more it may be able to trigger collective action clauses (CAC) to force bondholders to accept losses, an event that would have knock-on effects for banks but has largely been priced-in.

Among the key regional markets, the Nikkei 225 rose 2.01% to 9,768.96, Hang Seng Index 1.32% to 20,900.70, Shanghai Composite Index 1.06% to 2,420.28, Taiwan’s Taiex 1.03% to 7,984.56, South Korea’s Kospi 0.94% to 2,000.76 and Singapore’s Straits Times Index 1.96% to 2,970.38.

At Bursa Malaysia, penny stocks fell in active trade as traders decided to stay on the sidelines. Recent leaders Naim Indah Corp and HWGB fell in active trade while recent IPO China Stationery Ltd continued to lose ground.

Naim Indah fell 2.5 sen to 63 sen with 360 million shares done. clarified on Thursday there was no proposal from new major shareholder Datuk Raymond Chan Boon Siew to inject new development projects into the company.

CSL lost 10 sen to RM1 on continued selling as the allure of the second listing on Bursa Malaysia, which would have brought Chnia stocks back into focus, seemed to have faded. Its IPO price was 95 sen when it was listed on Feb 24 and it rose to a high of RM1.39 on Feb 28.

Mild buying of blue chips saw Tenaga adding seven sen to RM6.26, CIMB five sen to RM7.36 and Sime four sen to RM9.84. Their gains pushed the KLCI up by 2.34 points. Genting added six sen to RM10.80 and Genting Malaysia three sen to RM3.86.

PLANTATION []s rose on firmer crude palm oil prices, which rose RM34 to RM3,293, the highest since Feb 28. PPB added 16 sen to RM16.90, Sungai Bagan 12 sen to RM3, Far East and United Plantations 10 sen each to RM7.40 and RM24.50. However, Batu Kawan fell six sen to RM18.64.



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Tenaga, Sime power KLCI higher

KUALA LUMPUR (March 8): Key regional markets snapped out of their losing streak on Thursday, with all indices in positive territory including Bursa Malaysia’s FBM KLCI, as investors pinned their hopes on Greece avoiding a default and the promising jobs data from the US.

At 12.30pm, the FBM KLCI was up 3.28 points to 1,578.11, underpinned by gains in Tenaga and Sime Darby again. Turnover was 969.98 million shares valued at RM775.44 million. There were 333 gainers, 277 losers and 321 stocks unchanged.

The ringgit was firmer against the US dollar at 3.0157 vs 3.0292 overnight. Brent crude was steady above US$124 a barrel while US light crude added 18 cents to US$106.34.

The Nikkei 225 rose 1.4% to 9,709.68, Hang Seng Index 0.9% to 20,813.40, Shanghai Composite Index 1.04% to 2,419.68, and Singapore’s Straits Times Index 1.21% higher at 2,948.87.

Reuters reported Greece has set a Thursday 2000 GMT deadline for investors to sign up to a debt restructuring designed to trim 100 billion euros off the country's public debt.

News that Japan's economy shrank less than initially estimated in the fourth quarter, as companies ramped up spending, also supported oil prices. The revision to GDP showed a 0.2 percent contraction as companies look to an increase in demand due to reCONSTRUCTION [] of the country's tsunami-battered northeast coast.

In the United States, data showed an accelerated pace of job creation in the private sector in February, raising optimism about Friday's government employment report for that month. The private sector added 216,000 jobs last month, according to the ADP National Employment Report, topping economists' expectations for a gain of 208,000, and raising hopes the labour market recovery was moving at a faster clip.

At Bursa Malaysia, Nestle was the top gainer, up 24 sen to RM56.24, Carlsberg 10 sen to RM10.50 and Dutch Lady eight sen to RM29.98.

Crude palm oil futures rose RM19 to RM3,278 per tonne. Among PLANTATION []s, Sungei Bagan added 12 sen to RM3 and United Plantations eight sen to RM24.48.

The gains on the KLCI were driven by Tenaga and Sime Darby, which pushed the index up 0.896 of a point and 0.852 of a point respectively. Tenaga rose seven sen to RM6.26 and Sime six sen to RM9.86.

Among the banks, CIMB added four sen to RM7.35, Public Bank two sen to RM13.76 while GENTING BHD [] added eight sen to RM10.82 and Genting Malaysia three sen to RM3.86.

Naim Indah Corp was the most active again, up 4.5 sen to 70 sen to 252.37 million shares done and accounted for about one-quarter of the trading volume.

China Stationery Ltd lost six sen to RM1.04 in active trade. It had surged to a high of RM1.39 on Feb 28 after its listing on Feb 24 at an offer price of 95 sen.

Lysaght was the top loser, down 20 sen to RM2.29 while Berjaya Media shed 8.5 sen to 45.5 sen and HLFG eight sen to RM12.02.



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Investors take profit, KLCI down more than 8 pts

KUALA LUMPUR : The FBM KLCI fell in the morning session on Tuesday as investors locked in profits from a liquidity driven rally which saw the 30-stock index nearing the all-time high of 1,597 in July 2011.

At 12.30pm, the FBM KLCI was down 0.52% or 8.34 points to 1,580.88, dragged down mainly by telecommunication and banking stocks. The KLCI had briefly touched 1,594.72 on Monday. Turnover was 598 million shares worth RM621 million. Losers beat gainers 488 to 155 while 313 counters were unchanged.

Key regional markets fell with Hong Kong’s Hang Seng Index down 1.5% to 20,947.9 and Australia’s S&P / ASX 200 which was down 1.22% to 4,210.8. South Korea’s Kospi 1.17% lower at 1992.53 while Singapore’s Straits Times lost 1.12% to 2,958.23.

At Bursa Malaysia, top gainers include Asia File which added 15 sen to RM3.90, C.I. HOLDINGS BHD [] 14 sen to RM1.49 while CHIN TECK PLANTATION []S BHD [] was up 10 sen to RM9.10.

Decliners included BAT, which lost 48 sen to RM52.36, PPB 30 sen to RM16.64 while Nestle was down 20 sen to RM55.70.

Most active was China Stationery Ltd which traded unchanged at RM1.08 with some 34 million shares done.

OSK Research director Chris Eng said the new target for the KLCI was 1,620 towards the end of this year. This was derived from the average 2012 and 2013 fair values at 1,466 and 1,775 respectively.

“While we remain unconvinced of the current rally’s fundamentals and still see a risk of market correction, news flow with regards to large infrastructure investments should help the KLCI post a stronger 2H2012,” Eng said.



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Blue chips extend gains, CIMB, Sime lead again

KUALA LUMPUR (March 5): Bursa Malaysia closed higher on Monday on gains in selected blue-chips, dealers said.

The FBM KLCI was set to break the all-time high of 1,594.74 earlier when it reached 1,594.72 but it retreated to close at 1,589.22, up 5.44 points.

A dealer said although the market failed to make a breakthrough the momentum has been set for it to further move up and try break the resistance in the near term.

"At the moment, interest was very focused on selective blue-chips without an preference for any particular group," he said.

The Finance Index jumped 74.72 points to 14,204.47. The PLANTATION [] Index dropped 16.44 points to 8,661.77 and the INDUSTRIAL INDEX [] was 8.23 points lower at 2,918.54. The FBM Emas Index rose 27.721 points to 10,974.61 and the FBMT100 increased 26.88 points to 10,758.28.

Advancers led decliners by 391 to 325 while 414 counters were unchanged, 365 untraded and 20 suspended. Total volume declined to 1.448 billion shares valued at RM1.760 billion from 1.630 billion shares valued at RM1.934 billion last Friday.

Among active stocks, The Media Shoppe inched up one sen to 9.5 sen, Naim Indah increased 1.5 sen to 53 sen, Green Ocean Corp rose 2.5 sen to 30 sen and Kumpulan Hartanah Selangor climbed half sen to 63 sen.

China Stationery Ltd lost 10 sen to RM1.08.

Of the heavyweights, CIMB rose 15 sen to RM7.48, Sime Darby increased two sen to RM10 and Tenaga added six sen to RM6.31. Maybank and Maxis were unchanged at RM8.77 and RM5.94 respectively. - Bernama



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China Stationery continues to lose ground

KUALA LUMPUR (March 5): Shares of China Stationery Lt (CSL) extended their decline on Monday as investors continued to take profit after the strong performance on its listing on Feb 24.

At 3.33pm, it was down 11 sen to RM1.07. There were 21.99 million shares done.

It was listed on Feb 24 at an offer price of 95 sen and it rose to a high of RM1.44 on Feb 29.

The KLCI was up 6.02 points to 1,589.80. Turnover was 1.10 billion shares valued at RM1.18 billion. There were 380 gainers, 371 losers and 316 stocks unchanged.



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Market advances, Sime, PetChem up

KUALA LUMPUR (March 2): Blue chips chalked up gains in mid-morning trade on Friday, with fund buying of heavyweights Sime Darby and Petronas Chemicals underpinning the market sentiment.

At 11am, the FBM KLCI was up 10.63 points to 1,584.08. Turnover was 570.43 million shares valued at RM489 million. There were 351 gainers, 204 losers and 294 stocks unchanged.

Petronas Chemicals climbed 18 sen to RM6.93 and Sime Darby 15 sen to RM10.08 while Genting advanced 10 sen to RM10.56.

Panasonic Malaysia was the top gainer, adding 50 sen to RM22.50 while BAT added 38 sen to RM53.48 and DRB-Hicom 15 sen to RM2.76.

Perwaja-WA jumped 27.5 sen to 28 sen with 15.26 million units done when the warrants were listed on Friday.

Niam Indah Corp was the most active with 30.74 million shares done, slipping 0.5 sen to 52.5 sen.

Silver Bird, which saw its share price halved on Thursday after the company launched a probe into alleged irregularities, managed to gain 1.5 sen to 22 sen.

China Stationery Ltd extended its decline as investors took profit, down four sen to RM1.17.



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Sime, PetChem underpin KLCI amid weaker market

KUALA LUMPUR (March 1): Fund buying of Sime Darby and Petronas Chemicals provided the support for the FBM KLCI on Thursday amid a cautious market which has seen trading volume declining in recent weeks.

At the close, the KLCI was up 3.8 points or 0.24% to 1,573.45. Turnover was 1.62 billion shares valued at RM2.025 billion. However, declining stocks beat advancers 506 to 309 while 302 stocks were unchanged.

Among the key regional markets, South Korea’s Kospi was the top performer, up 1.33% to 2,030.25. Japan’s Nikkei 225 fell 1.27% to 9,707.37, Hong Kong’s Hang Seng Index lost 1.35% to 21,387.90 while Singapore’s Straits Times Index lost 0.51% to 2,978.84.

Reuters reported European shares and the euro reversed early losses on Thursday as the impact of the latest massive cash injection by the European Central Bank lifted sentiment, overwhelming fears that further U.S. monetary easing could be on hold.

Data showing new factory orders for Asia's manufacturing powerhouses perked up a bit in February, easing some concerns about the global economic slowdown, it said.

US light crude oil rose 25 cents to US$107.32 while Brent Brent crude futures prices rose 63 cents to US$123.29 a barrel.

Crude palm oil third-month futures rose RM23 to RM3,268 per tonne, spurred by positive factory data from second-largest importer China but gains were capped as export trends showed weaker demand.

At Bursa Malaysia, dealers said market sentiment was rather lacklustre with the larger funds picking up index-linked stocks while at the bottom of the spectrum, there was some unwinding of penny and lower liner stocks by traders.

Among the index-linked stocks, Sime Darby’s 24 sen gain to RM9.93 pushed the KLCI up 3.41 points while PetChem;s five sen gain to RM6.75, nudged the index up by 0.5 points,.

BAT was the top gainer, up 90 sen to RM53.10 as investors opted for dividend stocks. Panasonic Malaysia added 60 sen to RM22, Guinness Anchot 28 sen to RM13.40 and Nestle 20 sen to RM56.

Dijaya Corp jumoed 21 sen to RM1.63 while HLFG and KLK gained 14 sen each to RM12.20 and RM23.56.

Naim Indah Corp, which was in the black in the latest quarter, rose 4.5 sen to 53 sen and it was the most active with 116.22 million shares done.

There was some unwinding of positions in China Stationery, which fell 17 sen to RM1.21 with 72.72 million shares done. However, it has fared well since its listing on Feb 24 at an offer price of 95 sen.

Silver Bird lost nearly half of its value, plunging 20 sen to 20.5 sen with 26.44 million shares done. Silver Bird Group suspended its group managing director, Datuk Tan Han Kook and two other key executives effective Feb 24 as it undertakes an internal inquiry into allegations of irregularities in the company’s accounts which may amount to approximately RM111.5 million.

Dutch Lady was the top loser, down 26 sen to RM29.72 after the strong run-up. GENTING BHD []’s 14 sen decline to RM10.46, dragged the KLCI down 1.22 points.

Other losers were Fima Corp, down 15 sen to RM6.21 and RHB Cap 15 sen to RM7.80.



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KLCI advances but broader market lacklustre

KUALA LUMPUR (March 1): Blue chips advanced in the morning session on Thursday, underpinned by gains in BAT and Sime Darby but the overall market was lacklustre as trading volume shrunk.

At 12.30pm, the FBM KLCI was up 4.73 points to 1,574.38. Turnover was 853.20 million shares done valued at RM924.78 million, reflecting the decline in retail participation. There were 269 gainers, 411 losers and 315 stocks unchanged.

Consumer-related stocks were again the top gainers. BAT rose 86 sen to RM53.06, Nestle 30 sen to RM56.10 and Guinness Anchor 28 sen to RM13.40.

Sime Darby added 20 sen to RM9.89 after posting a strong set of results in the second quarter.

Among the smaller cap stocks, Dijaya Corp rose 21 sen to RM1.63 and the warrants 14.5 sen to 64 sen.

China Stationery Ltd fell 18 sen to RM1.20 with 52.15 million shares done. This was the biggest decline since its listing last Thursday. Its offer price was 95 sen.

Silver Bird was in focus, falling 20 sen to 20.5 sen in active trade when it resumed trading.

Among the decliners were Carlsberg, down 26 sen to RM10.14, Far East 19 sen to RM7.11, NSOP 14 sen to RM5.94,BLD PLANTATION []s nine sen to RM9.14 and Kulim nine sen also to RM4.44.



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Market cautious, Sime provides lift to KLCI

KUALA LUMPUR (March 1): The broader market was cautious in late morning trade on Thursday following higher than expected losses from MAS and Proton and mixed regional markets.

However, heavyweight Sime Darby provided the lift to the FBM KLCI after its stronger set of second quarter results.

At 10.43am, the KLCI was up 4.87 points to 1,574.52. Turnover was 502.99 million shares valued at RM481.83 million. There were 226 gainers, 320 losers and 291 stocks unchanged.

Sime Darby rose 14 sen to RM9.83 with 10.80 million shares done. BAT gained 70 sen to RM52.90, GAB 26 sen to RM13.38, Petronas Dagangan 18 sen to RM18.34, Dijaya Corp 13 sen to RM1.55 and Petronas Gas 12 sen to Rm16.92.

Tecnic was the top loser, down 20 sen to RM3.81 while Silver Bird lost 17.5 sen to 23 sen and CSL 14 sen to RM1.24.

Among the PLANTATION []s, Far East lost 19 sen to RM7.11 in thin trade, NSOP 18 sen to RM5.90 and BLD Plantations 13 sen to RM9.37.



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China Stationery rally hits a bump

KUALA LUMPUR (March 1): Shares of China Stationery Ltd, which has rallied since its listing on Feb 24, retreated as investors took profit.

At 9.37am, it was down 13 sen to RM1.25, the steepest decline since its listing. However, the share price is up 30 sen from its offer price of 95 sen.

The FBM KLCI rose 4.57 points to 1,574.22. Turnover was 261.06 million shares valued at RM205 million. There were 170 gainers, 222 losers and 220 stocks unchanged.

The Edge Financial Daily had reported that CSL’s debut would mark the return of Chinese companies listing on the local bourse after a long dry spell since January last year.

Analysts said the share price performance of China Stationery may play a role in sustaining the positive sentiment on China-based counters on the local bourse.

However, the stationery manufacturer’s IPO, priced at 95 sen per share, was undersubscribed for the public portion. Only half the public portion of 60 million shares was subscribed by retail investors.


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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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