Market Commentary

The FBM KLCI index gained 0.93 points or 0.06% on Monday. The Finance Index fell 0.11% to 13278.7 points, the Properties Index up 0.20% to 957.32 points and the Plantation Index rose 0.64% to 7877.08 points. The market traded within a range of 5.35 points between an intra-day high of 1492.71 and a low of 1487.36 during the session.

Actively traded stocks include PROTON-CG, SANICHI, PROTON-CH, DRBHCOM-CG, COMPUGT, DRBHCOM-CF, DPS, MBFHLDG-WA, DPS-WA and UTOPIA-WA. Trading volume increased to 2329.37 mil shares worth RM1333.67 mil as compared to Friday’s 1708.70 mil shares worth RM1357.53 mil.

Leading Movers were AXIATA (+9 sen to RM4.99), TENAGA (+8 sen to RM5.72), GENTING (+6 sen to RM10.92), BAT (+100 sen to RM48.10) and TM (+5 sen to RM4.43). Lagging Movers were SIME (-14 sen to RM8.98), DIGI (-3 sen to RM3.70), YTLPOWR (-4 sen to RM1.86), PBBANK (-2 sen to RM12.66) and MAYBANK (-1 sen to RM8.29). Market breadth was positive with 407 gainers as compared to 337 losers.



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KL shares mixed at midday

Share prices on Bursa Malaysia ended the morning session mixed today, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was in the red and below 1,500, while most key regional markets extended gains, the dealers added.

At 12.30pm, the key index stood at 1,488.92, down 0.1 point, led by losses in IJM Corporation which dropped 17 sen to RM5.61 with Sime Darby easing 13 sen to RM8.99.

A dealer said the global investor sentiment remained cautious as external factors continued to dictate the local market's direction.

"The morning session saw uncertain trading," he said, adding, the global market expects a breakthrough ahead of the European summit this week.

Market breadth was mixed with 298 gainers against 290 losers with 287 other counters unchanged.Trading volume stood at 1.301 billion shares valued at RM634.949 million.

The Industrial Index rose 1.69 points to 2,696.61 and the Plantation Index advanced 39.57 points to 7,866.34, while the Finance Index fell 21.08 points to 13,271.82. The FBM Emas Index increased 4.34 points to 10,173.95 and the FBM Mid 70 Index added 27.069 points to 11,050.51 while the FBM Ace Index rose 35.87 points to 4,194.85.

Volume leaders, Proton-CG gained 22 sen to 39 sen, Proton-CH perked 23 sen to 38 sen, Compugates dropped 0.5 sen to 8 sen while DPS Resources inched up 1.5 sen to 20.5 sen.

Among heavyweights, Maybank eased 2 sen to RM8.28, CIMB fell 13 sen to RM7.19 while Petronas Chemicals improved 2 sen to RM6.19. -- Bernama



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KL shares open week on weaker note

Share prices on Bursa Malaysia started the trading week Monday on a weaker note despite improved external sentiments in the global market, dealers said.

Fifteen minutes after the opening, the FTSE Bursa Malaysia (FBM KLCI) fell 0.81 points to 1,488.21 after opening 0.71 points higher at 1,489.73.

The Finance Index lost 19.57 points to 13,273.33, but the Plantation Index rose 19.49 points to 7,846.26 and the Industrial Index gained 0.68 points to 2,695.60.

The FBM Emas Index slipped 1.271 points to 10,168.34, the FBM Mid 70 Index was 16.88 points higher at 11,040.32 and the FBM ACE Index increased 16.71 points to 4,175.69.

Decliners led advancers 146 to 96 while 134 counters were unchanged, 1,103 untraded and 15 others were suspended. Turnover stood at 193.667 million shares worth RM72.710 million.

HwangDBS Vickers Research said investors could be tempted to turn bullish after the local bourse surged 57.5 points last week.

"However, it is premature to think that the worst is already over when the state of the global economy is still fragile.

"Our benchmark FBM KLCI is likely to trade on a slight downward bias ahead as investors could be taking profit on current market’s strength," it said in a research note today.

Among the actives, Proton-CG added eight sen to 25.0 sen, DPS Resources shed one sen to 18 sen, Compugates slid half-a-sen to eight sen while SYF Res-WA gained 5.5 sen to 47 sen.

Among the heavyweights, Maybank earned two sen to RM8.32, Sime Darby lost seven sen to RM9.05, CIMB shed three sen RM7.17 and Petronas Chemicals was unchanged at RM6.17. -- Bernama



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KL shares remain mixed at mid-afternoon

The key FTSE Bursa Malaysia KLCI (FBM KLCI) remained in positive territory while the broader market trended mixed at mid-afternoon today.

At 3pm, it was up 0.65 of a point at 1,485.91 after opening 4.18 points higher
at 1,489.44.

Losers led gainers by 372 to 353 while 287 counters traded unchanged with
951.79 million shares worth RM688.65 million changing hands.

A dealer said the sentiment weakened as investors retreated to the sidelines
awaiting for US jobs data due later today and developments in the euro zone for fresh leads.

On Bursa Malaysia, the Plantation Index rose 3.26 points to 7,820.89 and the
Industrial Index increased 17.04 points to 2,686.30 but the Finance Index shed
40.19 points to 13,288.15.

The FBM Emas Index was 1.79 points higher at 10,140.71 and the FBM Mid 70 Index was up 3.46 points to 10,960.84 but the FBM ACE Index lost 33.56 points to 4,120.74.

Among active stocks, Wijaya-Warrants slipped one sen to 23 sen while
SYF-Warrants gained 11.5 sen to 38.5 sen and DPS Resources rose two sen to 17 sen.

As for heavyweights, Maybank fell seven sen to RM8.32, CIMB lost three sen
to RM7.19 while Sime Darby advanced seven sen to RM9.11. -- Bernama



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KL shares remain mixed at midday

Share prices on Bursa Malaysia ended the morning session mixed today amid weak regional market sentiment and mild profit-taking, dealers said.

The key FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.01 points, or 0.14 per cent, to close at 1,487.27 on selective buying in heavyweights despite the bearish sentiment.

It had opened 4.18 points higher at 1,489.44 in the morning.

A dealer said the local bourse was likely to move narrowly in line with the major regional markets following a mixed performance on Wall Street overnight and absence of market-stimulating news.

Hong Leong Investment Bank Research said the key FBM KLCI was likely to encounter profit-taking but any selling pressures would likely be well-absorbed as technical indicators remained positive.

"As long as the index is able to maintain its posture above the uptrend line support near 1,440, we remain short-term positive on the market," it said in a research note today.

Trading was moderate with volume stood at 810.72 million worth RM541.42 million. Losers led gainers by 332 to 234 while 277 counters were unchanged.

The Plantation Index increased 12.84 points to 7,830.47 and the Industrial Index added 14.69 points to 2,683.95. Finance Index, however, slipped 44.62 points to 13,283.72.

The FTSE Bursa Malaysia Emas Index gained 8.53 points to 10,147.45 and the FTSE Bursa Malaysia Mid 70 Index was 7.73 points higher at 10,965.11. FTSE Bursa Malaysia Ace Index, however, declined 19.66 points to 4,134.64.

Among active stocks, Wijaya-Warrants rose 0.5 sen to 24.5 sen, SYF Res-Warrants up 10 sen to 37 sen and DPS Resources added 1.5 sen to 16.5 sen.

For heavyweights, Maybank dropped 7 sen to RM8.32, CIMB eased 4 sen to RM7.18 while Sime Darby advanced 6 sen to RM9.10. -- Bernama



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Market Commentary

The FBM KLCI index gained 14.82 points or 1.03% on Thursday. The Finance Index increased 0.84% to 12885.97 points, the Properties Index up 0.40% to 946.14 points and the Plantation Index rose 0.77% to 7629.34 points. The market traded within a range of 21.35 points between an intra-day high of 1447.99 and a low of 1426.64 during the session.

Actively traded stocks include MBFHLDG-WA, JCY-CD, COMPUGT, JCY, SUMATEC, DPS, EMICO, MARCO-WA, KBUNAI and KNM. Trading volume decreased to 1499.44 mil shares worth RM1077.76 mil as compared to Wednesday’s 1508.59 mil shares worth RM1127.55 mil.

Leading Movers were AXIATA (+22 sen to RM4.96), SIME (+15 sen to RM8.88), CIMB (+11 sen to RM6.79), TM (+22 sen to RM4.44) and GENTING (+16 sen to RM10.28). Lagging Movers were DIGI (-6 sen to RM3.66), MISC (-7 sen to RM6.13), YTL (-1 sen to RM1.39), BAT (-26 sen to RM47.24) and PETCHEM (-1 sen to RM5.92). Market breadth was positive with 440 gainers as compared to 277 losers. -- JF Apex Securities Bhd



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Market Commentary

The FBM KLCI index lost 4.82 points or 0.34% on Wednesday. The Finance Index fell 0.48% to 12778.77 points, the Properties Index dropped 0.89% to 942.36 points and the Plantation Index down 0.16% to 7571.21 points. The market traded within a range of 15.27 points between an intra-day high of 1439.46 and a low of 1424.19 during the session.

Actively traded stocks include MBFHLDG-WA, SUMATEC, SUMATEC-WA, DPS, DPS-WA, TIGER, COMPUGT, HIBISCS-WA, BIOSIS-WA and KBUNAI. Trading volume increased to 1508.59 mil shares worth RM1127.55 mil as compared to Tuesday’s 1271.69 mil shares worth RM1043.64 mil.

Leading Movers were MISC (+13 sen to RM6.20), KLK (+38 sen to RM21.38), UMW (+14 sen to RM6.57), BAT (+72 sen to RM47.50) and YTLPOWR (+3 sen to RM1.80). Lagging Movers were TENAGA (-17 sen to RM5.37), CIMB (-8 sen to RM6.68), IOICORP (-6 sen to RM4.92), GENTING (-10 sen to RM10.12) and PBBANK (-6 sen to RM12.36). Market breadth was negative with 281 gainers as compared to 450 losers. -- JF Apex Securities Bhd



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KL shares close in negative territory

Share prices ended lower as sentiment remained bearish amid concerns over a possible global economic recession, dealers said.

Regional markets also fell following weak economic data released in China and the debt crisis in Europe and US which were derailing economic growth in Asian countries.

However, some bargain hunting helped the FBM KLCI narrow losses with the market barometer closing 4.82 points easier at 1,433.17.

The Finance Index erased 61.03 points to 12,778.77, the Plantation Index declined 12.15 points to 7,571.21 while the Industrial Index gained 3.19 points to 2,615.75.

The FBM Emas Index fell 47.15 points to 9,822.68, the FBM70 Index dipped 107.471 points to 10,696.01, the FBM Top 100 Index eroded 46.25 points to 9,628.34 and the FBM ACE Index increased 17.17 points to 4,130.20.

Decliners led advancers 450 to 281 while 271 counters were unchanged, 470 untraded and 16 others were suspended.

Volume increased to 1.51 billion shares, worth RM1.13 billion, from 1.27 billion shares, worth RM1.04 billion, recorded yesterday.

Among the active counters, MBF Holdings warrants gained seven sen to 25.5 sen, Sumatec Resources gained half-a-sen to 28.5 sen, Sumatec Resources warrants remained unchanged at 16 sen and DPS Resources increased two sen to 19 sen.

Among the heavyweights, Maybank slipped three sen to RM8.17, CIMB declined eight sen to RM6.68, Sime Darby declined three sen to RM8.73 while RHB Capital rose five sen to RM7.42. -- Bernama



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Is the penny stock party winding down like Harvest?

KUALA LUMPUR: Even as shares in designated Harvest Court Industries Bhd dipped 31% back to penny status yesterday, following the resignation of Mohd Nazifuddin Najib — son of Prime Minister Datuk Seri Najib Razak — from its board, market data showed the recent penny stock party may be winding down.

While Sumatec Resources Bhd, the 10th lower liner to be queried on unusual market activity (UMA) this month, topped yesterday’s most active list after 52% of its share base changed hands, it was the only penny stock among the top five active counters to end with a gain.

Compugates Holdings Bhd, DPS Resources Bhd, MMS Ventures Bhd and SYF Resources Bhd all ended the day between 2.91% and 43.18% lower. SYF and DPS had responded to an UMA query on Nov 14. At yesterday’s 16.5 sen close, DPS is down 47% from its recent high of 31 sen on Nov 14, but is still almost double the 9.5 sen a month ago.

While the total stock value done on the local bourse yesterday still indicated strong trading in penny stocks, the average value of shares traded of 82 sen had been steadily climbing for a fifth straight day after hitting an average low of 52 sen on Nov 15 — incidentally the day after Bursa Securities decided to impose that rare trading restriction on Harvest Court, which the regulator did in May 2006 on Iris Corp Bhd.

Similarly, the number of declining stocks had beaten the number of gainers for a sixth straight market day yesterday, stock market data showed.

Harvest Court lost 43.5 sen to close at its day low of 96.5 sen with 252,700 shares done yesterday. That’s more than half its high of RM2.14 on Nov 14, but still many times the 7.5 sen on Sept 27 before volume surged.

Sumatec, on the other hand, surged 7.5 sen or 36.6% to 28 sen — highest since April this year with over 112 million shares done. It was only at seven sen just a month ago.

Also closing with gains in active trade yesterday were lower liners GPRO Technologies Bhd, Karambunai Corp Bhd and Tricubes Bhd.

It remains to be seen for how long more penny stocks will continue dominating trading volumes.

Prior to this month, the local bourse last saw heavy trading of lower liners from mid-April to mid-June 2009, Bloomberg data showed. Seven stocks received UMA queries in June 2009. They were Measat Global Bhd, Transmile Group Bhd, Compugates Holdings Bhd, SAAG Consolidated Bhd, Equine Capital Bhd, Emico Holdings Bhd and Dataprep Holdings Bhd.

Bernama reported yesterday that Nazifuddin, who is still chairman of Sabah-based real estate developer Sagajuta Group, remains committed to Harvest Court despite his resignation from the board on Monday. He still owns a 2.2% stake in Harvest Court. It was also reported that Sagajuta managing director Datuk Raymond Chan still has 15.7% in Harvest Court.

In an interview published in a local daily yesterday, Chan said he and Nazifuddin would not exit Harvest Court anytime soon but intend to stick around for two to three years “to do genuine business”. He also said they are “comfortable” with their stakes, without committing to keeping their holdings or precluding them to buy or sell down their stakes.

Chan said Nazifuddin will focus on 1Green Enviro Sdn Bhd, while he handles the “many developments” within Sagajuta. He is not getting any government jobs.
“It is all private jobs,” Chan reportedly said.

Describing himself as “a young businessman trying to make a living”, 28-year-old Nazifuddin, who returned to Malaysia two years ago after a stint at a bank in Hong Kong, said he would “think twice about going back to the market” following the attention he received from the short-lived appointment at Harvest Court’s board. Chan reportedly has 30% of Sagajuta (Sabah) Sdn Bhd and Nazifuddin a 10% stake.


This article appeared in The Edge Financial Daily, November 23, 2011.



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Market Commentary

The FBM KLCI index gained 3.91 points or 0.27% on Tuesday. The Finance Index fell 0.08% to 12839.8 points, the Properties Index up 0.55% to 950.78 points and the Plantation Index rose 0.52% to 7583.36 points. The market traded within a range of 13.04 points between an intra-day high of 1438.51 and a low of 1425.47 during the session.

Actively traded stocks include SUMATEC, SUMATEC-WA, COMPUGT, DPS, MMSV, MBFHLDG-WA, SYF, HIBISCS-WA, TCUBES and GPRO. Trading volume decreased to 1271.69 mil shares worth RM1043.64 mil as compared to Monday’s 1416.44 mil shares worth RM1161.21 mil.

Leading Movers were DIGI (+12 sen to RM3.72), TENAGA (+9 sen to RM5.54), GENM (+7 sen to RM3.84), KLK (+30 sen to RM21.00) and AXIATA (+2 sen to RM4.73). Lagging Movers were SIME (-4 sen to RM8.76), PBBANK (-4 sen to RM12.42), PETCHEM (-4 sen to RM5.94), CIMB (-1 sen to RM6.76) and AMMB (-2 sen to RM5.49). Market breadth was negative with 327 gainers as compared to 399 losers. -- JF Apex Securities Bhd



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KL shares stay in negative territory

Share prices on Bursa Malaysia stayed in negative territory at midafternoon today as sentiment remained cautious on renewed fears of a global recession.

The concerns follow the delay in resolving the eurozone debt crisis and a heavy US budget deficit which haunted investors, dealers said.

At 2.53pm, the FBM KLCI stood at 1,431.47 points, down 2.61 points.

The Finance Index lost 23.35 points to 12,826.19, the Plantation Index slipped 14.77 points to 7,529.36 and the Industrial Index declined 15.36 points to 2,600.47.

The FBM Emas Index decreased 19.07 points to 9,831.91, the FBM70 Index fell 23.21 points to 10,785.82, the FBM Top 100 Index lost 18.22 points to 9,636.82 and the FBM ACE Index erased 22.95 points to 4,057.42.

Decliners led advancers 448 to 175 while 267 counters were unchanged, 582 untraded and 16 others were suspended.

Volume stood at 803.8 million shares worth RM580.2 million.

Among the active counters, Sumatec Resources rose 4.5 sen to 25 sen, Sumatec Resources warrants added 1.5 sen to 14.5 sen, DPS Resources declined one sen to 17 sen and Compugates Holdings slipped half a sen to eight sen.

Among the heavyweights, Maybank was unchanged at RM8.20, CIMB declined two sen to RM6.75, Sime Darby slipped seven sen to RM8.73 while RHB Capital gained five sen to RM7.36. -- Bernama



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KL shares easier at mid-day

Share prices on Bursa Malaysia ended the morning session lower as sentiment remained cautious on renewed fears of a global recession.

The concerns follow the delay in resolving the Euro debt crisis and a heavy US budget deficit which haunted investors, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,431.44 points, down 2.64 points, when the morning session ended at 12.30pm.

The Finance Index lost 18.21 points to 4,062.16, the Plantation Index slipped 9.84 points to 7,534.29 and the Industrial Index declined 14.40 points to 2,601.43.

The FBM Emas Index decreased 17.891 points to 9,833.09, the FBM70 Index fell 14.521 points to 10,794.51, the FBM Top 100 Index lost 16.690 points to 9,638.35 and the FBM ACE Index erased 18.21 points to 4,062.16.

Decliners led advancers 416 to 178 while 260 counters were unchanged, 618 untraded and 16 others were suspended.

Volume stood at 728.1 million shares worth RM520.2 million.

Among the actives, Sumatec Resources rose 5.5 sen to 26 sen, Sumatec Resources warrants added two sen to 15 sen, DPS Resources declined 1.5 sen to 16.5 sen and Compugates Holdings slipped half-a-sen to eight sen.

Among the heavyweights, Maybank slipped one sen to RM8.19, CIMB declined three sen to RM6.74, Sime Darby slipped seven sen to RM8.73 while RHB Capital gained four sen to RM7.35. -- Bernama



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KL shares lower in early trade

Share prices on Bursa Malaysia opened lower as sentiment remained bearish amid losses in regional markets.

The delay in resolving the Euro debt crisis and heavy US budget deficit haunted investors, dealers said.

As at 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.05 points easier at 1,433.03 after opening 3.28 points lower at 1,430.80.

The Finance Index lost 21.90 points to 12,827.64, Plantation Index shed 13.36 points to 7,530.77 but the Industrial Index rose 4.28 points to 2,620.11.

The FBM Emas Index slid 18.971 points to 9,832.01, FBM70 Index fell 27.17 points to 10,781.86, the FBM Top 100 Index dipped 10.76 points to 9,644.28 and the FBM ACE Index declined 19.57 points to 4,060.80.

Decliners led advancers 205 to 63 while 117 counters were unchanged, 1,087 untraded and 16 others were suspended.

Total volume stood at 108.2 million shares worth RM41.1 million.

As for actives, Sumatec Resources rose 3.5 sen to 24 sen, Sumatec Resources warrants added two sen to 15 sen, DPS Resources declined one sen to 17 sen and Compugates Holdings slipped half-a-sen to eight sen.

Among heavyweights, both Maybank and CIMB rose two sen each to RM8.22 and RM6.75, respectively, while Sime Darby gained one sen to RM8.81. RHB Capital was unchanged at RM7.31. - Bernama



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KL shares close sharply lower

KUALA LUMPUR: Share prices on Bursa Malaysia closed sharply lower today, reflecting the gloomy sentiment in regional markets that remained concerned with the unresolved eurozone debt crisis, dealers said.

They said the bearish statement made by China's Vice Premier, Wang Qishan, that the global economic outlook remained grim and of an impending global recession also affected the market.

The FTSE Bursa Malaysia KLCI (FBM KLCI) fell 20.32 points to 1,434.08 after opening 2.64 points lower at 1,451.76.

The Finance Index lost 139.25 points to 12,849.54, Plantation Index shed 70.51 points to 7,544.13 and the Industrial Index declined 57.35 points to 2,615.83.

The FBM Emas Index slid 134.569 points to 9,850.98, FBM70 Index fell 119.29 points to 10,809.03, the FBM Top 100 Index dipped 130.27 points to 9,655.04 and the FBM ACE Index declined 115.55 points to 4,080.37.

Decliners led advancers by 661 to 176 while 194 counters were unchanged, 450 untraded and 26 others suspended.

Total volume decreased to 1.416 billion shares worth RM1.161 billion from 1.462 billion shares worth RM1.196 billion last Friday.

As for the actives, Compugates Holdings rose half a sen to 8.5 sen, Fast Track Solution declined half a sen to 10 sen and DPS Resources slipped 4.5 sen to 18 sen.

Sumatec Resources, however, rose three sen to 20.5 sen.

Among heavyweights, Maybank lost five sen to RM8.20, CIMB eased 10 sen to RM6.77 and Sime Darby lost 10 sen to RM8.80.

RHB Capital, however, gained two sen to RM7.31.

Volume on the Main Market decreased to 1.026 billion shares valued at RM1.109 billion against 1.046 billion shares valued at RM1.141 billion last Friday.

Turnover on the ACE market decreased to 296.151 million shares worth RM42.217 million from 350.682 million shares worth RM50.021 million last Friday.

Warrants increased to 81.512 million units valued at RM7.159 million from 63.245 million units valued at RM5.382 million last Friday.

Consumer products accounted for 162.6 million shares traded on the Main Market, industrial products 147.8 million, construction 28.3 million, trade and services 368.2 million, technology 24.4 million, infrastructure 21.8 million, finance 67.6 million, hotels 1.1 million, properties 150.6 million, plantation 33.2 million, mining 44,000, REITs 1.2 million and closed/fund 25,000. - Bernama



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KL shares lower at mid-afternoon

KUALA LUMPUR: Share prices on Bursa Malaysia were lower at mid-afternoon today, reflecting the gloomy sentiment in regional markets as lingering concerns about the impact of escalating eurozone debt crisis affected investor confidence, dealers said.

They said the bearish statement made by China's Vice Premier, Wang Qishan, that the global economic outlook remained grim, also affected the market.

As at 3.26pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 13.07 points to 1,441.37 after opening 2.64 points lower at 1,451.76.

The Finance Index lost 100.51 points to 12,888.28, Plantation Index shed 39.78 points to 7,574.86 and the Industrial Index declined 42.61 points to 2,630.57.

The FBM Emas Index slid 94 points to 9,891.55, FBM70 Index fell 102.931 points to 10,825.39, the FBM Top 100 Index dipped 88.64 points to 9,696.67 and the FBM ACE Index declined 65.67 points to 4,130.25.

Decliners led advancers by 630 to 118 while 207 counters were unchanged, 526 untraded and 26 others suspended.

Total volume stood at 911.6 million shares worth RM673.4 million.

For the actives, Compugates Holdings was unchanged at eight sen, Fast Track Solution was unchanged at 10.5 sen and DPS Resources slipped three sen to 19.5 sen.

Flonic Hi-Tech added three sen to 30 sen.

Among heavyweights, Maybank lost two sen to RM8.23, CIMB eased seven sen to RM6.80 and Sime Darby lost 10 sen to RM8.80.

RHB Capital, however, gained 12 sen to RM7.41. - Bernama



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KL shares lower at midday

Share prices on Bursa Malaysia at midday today extended the downtrend, as the market succumbed to selling pressure in tandem with losses on regional markets over continuing concerns that the eurozone debt crisis may spread to more countries in the 27-member European Union, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.47 points to 1,439.93 after opening 2.64 points lower at 1,451.76. The Finance Index lost 98.88 points to 12,889.91, the Plantation Index shed 74.15 points to 7,540.49 and the Industrial Index declined 47.98 points to 2,625.20.

The FBM Emas Index slid 100.09 points to 9,885.46, the FBM70 Index fell 100.33 points to 10,827.99, the FBM Top 100 Index dipped 95.75 points to 9,689.56 and the FBM ACE Index declined 52.81 points to 4,143.11.

Decliners led advancers 582 to 110 while 194 counters were unchanged, 595 untraded and 26 others suspended. Total volume stood at 707.766 million shares worth RM491.986 million.

For the actives, Compugates Holdings was unchanged at eight sen, Fast Track Solution also remained unchanged at 10.5 sen and DPS Resources slipped three sen to 19.5 sen, but Flonic Hi-Tech added three sen to 30 sen.

Among heavyweights, Maybank lost two sen to RM8.23, CIMB eased seven sen to RM6.80 and Sime Darby lost 10 sen to RM8.80 but RHB Capital gained 11 sen to RM7.40. -- Bernama



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FBM KLCI ends at 1,454.4 low

Share prices on Bursa Malaysia remained in the red at the end of trading day today with the FTSE Bursa Malaysia KLCI (FBM KLCI) closed at a low of 1,454.4 as investors remained cautious on the possibility of slower growth for the local economy, dealers said.

At 5pm, the FBM KLCI ended at 1,454.4, down 11.07 points or 0.755 per cent against yesterday's 1,465.47.

MISC Bhd emerged as the second top loser, recording significant losses accounting for a 2.035-point drop in the benchmark index.

The FBM KLCI, which opened 3.13 points lower, touched an intra-day high of 1,468.44.

The Finance Index lost 85.09 points to 12,988.79, the Plantation Index slipped 13.48 points to 7,614.64 and the Industrial Index declined 25.51 points to 2,673.18.

The FBM Emas Index dropped 75.47 points to 9,985.55, the FBM70 Index fell 78.43 points to 10,928.32, the FBM Top 100 Index declined 73.54 points to 9,785.31 and the FBM ACE Index was 70.53 points lower at 4,195.92.

Decliners led advancers 588 to 197 while 258 counters were unchanged, 444 untraded and 32 others suspended. Total volume declined to 1.462 billion shares, worth RM1.197 billion, from yesterday's 1.586 billion shares valued at RM1.175 billion.

Volume on the Main Market eased to 1.046 billion shares, valued at RM1.141 billion, against 1.22 billion shares worth RM1.12 billion registered yesterday.

Turnover on the ACE Market, however, improved to 350.682 million shares worth RM50.021 million compared to 285.29 million units, valued at RM44.74 million, yesterday.

Warrants slipped to 63.245 million shares, valued at RM5.382 million, from 80.501 million shares, worth RM7.91 million, recorded previously.

Top losers PPB Group lost 28 sen to RM16.50, MISC dropped 24 sen to RM6.45 and Hong Leong Financial was 22 sen lower at RM11.34.

Among actives, Frontken eased 1 sen to 13 sen but Compugates was unchanged at 8 sen while DPS Resources shed 1.5 sen to 22.5 sen.

As for heavyweights, Maybank fell 5 sen to RM8.25, Petronas Chemicals dropped 8 sen to RM6.17 while Sime Darby and CIMB were both unchanged at RM8.90 and RM6.87, respectively.

Consumer products accounted for 186.47 million shares traded on the Main Market, industrial products 162.838 million, construction 23.118 million, trade and services 381.796 million, technology 27.601 million, infrastructure 10.447 million, finance 68.321 million, hotels 314,900, properties 124.586 million, plantation 32.564 million, mining 22,000, REITs 1.579 million and closed/fund 37,400. -- Bernama



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Penny stocks remain on investors’ radar

KUALA LUMPUR: The average price of a stock traded on the local bourse has fallen by 30% in the past month as retail investors have veered towards penny stocks over blue chips, driven by the prospect of a quick gain.

“Some of these investors are not there for the long term and they don’t look at the dividends or returns these stocks are distributing, which may be measly. They’re in for the buy and sell,” said a market observer.

Data from Bursa Malaysia indicated that the average price of a share traded on the market has fallen to 83 sen in the first week of November from RM1.17 in the previous month and RM1.70 in the middle of the year.

Penny stocks that have been in the spotlight are DPS Resources Bhd, Tricubes Bhd and Harvest Court Industries Bhd, whose prices have shown some volatility in a limited period of time.

Securities Commission (SC) chairman Tan Sri Zarinah Anwar last week cautioned investors against penny stocks whose prices have soared despite the lack of any substantial developments.

“I would like to remind investors that they have to exercise caution and make informed investment decisions. Everybody has a role to play in terms of ensuring fair and orderly trading in the market,” she said.




Bursa Malaysia had suspended trading in the shares and warrants of Harvest Court, which were declared as designated securities.

“The decision to designate the securities of Harvest Court and its warrants is due to excessive speculation observed in their trading and has been taken in the interest of ensuring a fair and orderly market,” said the local bourse.

One market observer indicated that the trend of investors preferring penny stocks may stabilise over the long term as attention returns to the fundamentals of each stock.

“For many investors, the earnings generated by a company and the dividend rate for its shareholders remain important. Moreover, some of these penny stocks may be illiquid despite their small unit size and their market capitalisation may limit certain growth opportunities,” he said.

DPS closed two sen or 7.7% lower at 24 sen with 44.26 million shares yesterday, after reaching more than a three-year closing high of 31 sen on Monday.

The stock reached an intraday high of 40.5 sen on Tuesday. Investors who bought at that level would have lost 40%.

Harvest Court hit limit down for the second consecutive day after trading resumed following its designated status.

The stock lost 45 sen or 30.2% to close at RM1.04 on a volume of 3.37 million shares.

While the stock is still up substantially from under 10 sen about a month ago, it has also halved from its recent peak of RM2.14 on Nov 14.

Tricubes closed 2.5 sen or 9.6% lower at 23.5 sen with 18.09 million shares traded. The stock surged 9.5 sen or 57.8% from 16.5 sen to 26 sen on Wednesday after announcing that it had secured a contract from Polis DiRaja Malaysia to handle the payment of and enquiries about traffic summonses.


This article appeared in The Edge Financial Daily, November 18, 2011.



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KL shares remain lower at mid-day

Share prices on Bursa Malaysia remained in the negative territory at the end of the morning trading session, largely due to losses mostly in Maybank and CIMB Group, dealers said.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,471.19, down 5.65 points from yesterday's close of 1,476.84.

Losses in Maybank and CIMB accounted for a 2.833 point drop in the FBM KLCI, which opened 1.32 points lower at 1,475.54, and moved between 1,469.43 and 1,476.8 throughout the morning session.

The Finance Index lost 83.16 points to 13,088.77, the Plantation Index declined 16.6 points to 7,670.89 and the Industrial Index sliced 12.51 points to 2,706.24.

The FBM Emas Index dropped 27.431 points to 10,092.39, the FBM Mid 70 Index eased 4.4 points to 11,030.93 and the FBM ACE Index decreased 18.62 points to 4,227.45.

Decliners led advancers 339 to 238 while 271 counters were unchanged, 633 untraded and 32 others were suspended.

Volume stood at 799.72 million shares valued at RM458.685 million.

For the actives, Sumatec Resources added 5 sen to 19.5 sen, Hibiscus Petroleum-Warrant rose 5.5 sen to 46 sen while DPS Resources shed 0.5 sen to 25.5 sen.

For heavyweights, Maybank eased 9 sen to RM8.30, Sime Darby slipped 2 sen to RM8.91, CIMB lost 11 sen RM6.95 and Petronas Chemicals shed 1 sen to RM6.20. -- Bernama



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HDBSVR sees KLCI falling below 1,475

KUALA LUMPUR (Nov 17): Hwang DBS Vickers Research (HDBSVR) said the benchmark FBM KLCI is expected to drop below its immediate support level of 1,475, possibly falling towards the next support line of 1,445 ahead.

It said on Thursday that sentiment would be impacted after the overnight fall on Wall Street. Major U.S. equity indices plunged between 1.6% and 1.7% at the closing bell partly on fears that American banks could be hit by the spreading eurozone sovereign debt crisis.

“Consequently, Asian equities will likely suffer from the spillover effects today,” it said.

HDBSVR said against the weak market backdrop, the share price and warrant price of Harvest Court should tumble further on Thursday after hitting limit down on Wednesday.

“And it remains to be seen whether the selling momentum will affect other penny stocks still sitting on huge gains such as DPS Resources, Federal Furniture and Tricubes.

“Meanwhile, Tanjung Offshore shares may come under pressures too following the release of a set of poor financial results last evening,” it said.



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