Weaker regional sentiment weighs KLCI down

KUALA LUMPUR (May 11): The weaker investor sentiment at regional markets weighed on the FBM KLCI and led the benchmark index lower at the mid-day break on Friday.

Asian shares slid on Friday, spawning declines in other risk assets, as deepening political turmoil in the eurozone fuelled concerns about global growth and a huge loss from JPMorgan added to jittery sentiment, according to Reuters.

At the mid-day break, the FBM KLCI fell 1.14 points to 1,586.92.

Losers led gainers by 362 to 176, while 330 counters trade unchanged. Volume was 475.81 million shares valued at RM374.95 million.

The ringgit weakened 0.15% to 3.0725 versus the greenback, crude palm oil futures for the third month delivery fell RM41 per tonne to RM3,299, crude oil lost US$1.27 (RM3.90) per barrel to US$95.81 and gold fell US$9.25 an ounce to US$1,584.77.

At the regional markets, Japan's Nikkei 225 fell 0.48% to 8,966.10, Hong Kong's Hang Seng Index fell 1.18% to 19,989.50, the Shanghai Composite Index shed 0.25% to 2,404.31, Taiwan's Taiex fell 1.23% to 7,391.94, south Korea's Kospi lost 1.37% to 1,918.33 and Singapore's Straits Times Index was down 0.72% to 2,882.77.

On Bursa Malaysia, PPB was the top loser in the morning session and fell 34 sen to RM16.14, BAT lost 30 sen to RM53.70, United PLANTATION []s down 24 sen to RM26.26, GAB 22 sen to RM13.40, Southern Acids 19 sen to RM2.26, Tasek 17 sen to RM9.19, while Milux, Shell and Far East lost 10 sen each to RM1.18, RM9.90 and RM7.55 respectively.

Harvest Court was the most actively traded counter, with 37.29 million shares done. The stock fell 4.5 sen to 58 sen.

Other actives included Utopia, Focus, Ariantec, Permaju, LFE Corp, Naim Indah Corp, CSL, Winsun and Metronic.

Gainers included SAM Engineering, Aeon Credit, Aeon, Tahps, Binutulu Port, BLD Plantations, Malpac and Fiamma.



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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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KLCI trends marginally higher at mid-morning

KUALA LUMPUR (March 26): The FBM KLCI trended marginally higher on Monday, in line with the moderate gains at the regional markets, following the rise pf US stocks in light volume last Friday, buoyed by rising energy and basic materials shares, as the S&P 500 kept showing resilience even as it posted its second negative week so far this year.

At 10am, the FBM KLCI gained 0.91 of a point to 1,586.74.

Gainers trailed losers by 172 to 197, while 254 counters traded unchanged. Volume was 338.36 million shares valued at RM147.06 million.

Asian shares edged up on Monday, finding some support after losing ground last week on fears of the impact of an economic slowdown in China, and the euro held near a three-week high, according to Reuters.

Equity markets had got off to a flying start in 2012, but have been wobbling since China lowered its growth forecast for the year to 7.5 percent in mid-March, with concerns exacerbated by weak factory data from China and Europe last week, it said.

At the regional markets, the ShangHai Compoite Index gained 0.24% to 2,355.07, Hong Kong’s Hang Seng Index was up 0.15% to 20,700.50, and Singapore’s Sraits Times Index edged up 0.10% to 2,987.1.

Meanwhile, japan’s Nikkei 225 fell 0.11% to 10,022.90, Taiwan’s Taiwex lost 0.92% to 8,001.94 and South korea’s Kospi fell 0.38% to 2,019.12.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on March 26 said the FBM KLCI gained 14.43 points to close at 1,585.83 last Friday.

“The local market rose in small daily spurts, with buying on some selective blue chips as well as obvious penny stock plays. The obvious areas for the FBM KLCI are in the 1,549 to 1,585 zone.

“The next resistance levels of 1,587 and 1,597 may see heavy liquidation activities,” he said.

Meanwhile, ECM Libra research in its Market outlook and strategy for 2Q2012 said that Overall, its 2Q2012 outlook was that the FBM KLCI was toppish at 1,600

The research house said upside was limited based on the FBMKLCI’s relatively high PER, but downside was also limited in the run-up to General Elections.

“In 2H2012, we expect the FBMKLCI to trade in a range of 1500-1600. If the General Election is held in June 2012, whatever outcome we think will lead to a market correction in 3Q2012.

“4Q2012 could see the FBMKLCI recovering to end the year at 1600 as the market looks forward to 2013,” it said.

“We are thus Neutral on all sectors except for an Overweight on CONSTRUCTION [] and Building Materials. Buy IJM, WCT, Lafarge, Lion Industries. In PLANTATION []s, switch from IOI to KLK,” it said on Monday.

CIMB chief economist Lee Heng Guie in his regional ccompass report released on March 26 said global growth risks appeared to be easing, going by 1) the encouraging global indicators, 2) ebbing funding pressure in the financial markets, and 3) receding Greece debt default risks, at least for now.

“While the threat of a financial catastrophe has been averted, stronger financial firewalls are needed to safeguard against the risk of contagion in the eurozone.

“We remain wary of an escalation of geopolitical tension in the Middle East that could trigger a global oil price shock. Emerging markets may also have to contend with volatile capital flows,” he said.

ON Bursa MalaySia, the top gainer at mid-morning was SuperComnet that added 13.5 sen to 43.5 sen, MajuPerak 11.5 sen to 40 sen, Maybank up nine sen to RM8.84, Nestle, Shell, Yinson and Genting up eight sen each to RM55.98, RM10.10, RM1.81 and RM11.08 respectively, while Tradewinds Plantations gained seven sen to RM4.87.

Among the decliners, Petronas Dagangan fell 18 sen to RM18.30, Far East down 15 asen to RM7.40, Tenaga and Tradewinds fell nine sen each to R6/59 and RM9.70, Aeon Credit, Deleum, WCT and KESM fell seven sen each to RM8.60, RM2.51, RM2 respective, while Kein Hin and LPI lost six sen each tp RM45 sen and RM13.94.

The actives included Karambunai, Metronic, Trinity, Ariantec, SAAG, Supercomnet and MaujuPerak.



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FBM KLCI erases losses, in positive territory at midday

KUALA LUMPUR (March 22) : The FBM KLCI erased earlier losses to settle in positive territory at midday as Asian stock markets fell on weaker economic sentiments in China.

This follows updates that the HSBC flash PMI, a gauge for China's industrial activity, declined to 48.1 in March from 49.6 in February .

In Malaysia, the 30-stock FBM KLCI rose 3.05 points to 1,585.58 at 12.30pm with 1.75 billion shares worth RM665.79 million traded. There were 312 gainers versus 334 decliners while 326 stocks were unchanged.

Among Asian indices, Hong Kong’s Hang Seng fell 0.02% to 20,851.9 points, South Korea’s Kospi lost 0.26% to 2,021.94 while the Shanghai Composite was down 0.42% to 2,368.19

Ar Bursa Malaysia, the top gainer KUALA LUMPUR KEPONG BHD [] added 48 sen to RM23.90 while BAT was up 38 sen to RM53.58.

Decliners include Far East which fell 13 sen to RM7.27 while Nestle was down 12 sen to RM55.88.

Most active was 1Utopia which added 2.5 sen to 10 sen with some 242 million shares done.



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KLCI edges higher, lifted by bank stocks

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

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

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

But financial spreadbetters predicted major European markets, it said.

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

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

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

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

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

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

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



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KLCI erases gains at midday, China weighs

KUALA LUMPUR (March 15): Malaysian equities pared earlier gains at lunch break on Thursday dragged down by China’s economic growth concerns.

PLANTATION [] stocks had earlier lifted the FBM KLCI by as much as 3.74 points or 0.2% but mild profit taking erased the gains.

At 12.30pm, the KLCI was just up 0.09 of a point to 1,575.80. Across the local bourse, about 662 million shares worth RM697 million changed hands. The broader market was cautious, with 368 decliners to 228 advancers while 343 stocks were unchanged.

Asian indices hit by less optimistic sentiments in China include Hong Kong’s Hang Seng which lost 0.11% to 21,284.7 while the Shanghai Composite retreated 0.12% to 2,388.26. Singapore’s Straits Times Index fell 0.14% to 3,022.02 but Japan’s Nikkei 225 managed to eke out a 0.92% gain to 10,142.81.

China’s outgoing premier Wen Jiabao said on Wednesday that measures to curb property speculation must be maintained to prevent a real estate bubble which will be detrimental to the country’s economy. Wen’s comments had reversed gains across China stock markets, resulting in major indices finishing in the red.

On Thursday, the Commerce Ministry announced that China’s foreign direct investment fell 0.9% to US$7.7 billion in February from a year earlier.

At Bursa Malaysia, plantation heavyweight SIME DARBY BHD [] rose seven sen to RM9.78 as crude palm oil futures climbed above RM3,400 a tonne. This followed updates from Intertek that Malaysian palm oil exports increased 37% to 697,804 tonnes in the first 15 days of March, according to wire reports.

However, Far East fell 38 sen to RM7.22, PPB 18 sen lower at RM16.80 and Batu Kawan 16 sen to RM18.52.

Top gainers Aeon Credit added 40 sen to RM8.75 while Yeo Hiap Seng was up 16 sen to RM2.62. F&N rose 12 sen to RM18.12.

Among the banks, RHB Cap added 10 sen to RM7.92 and CIMB eight sen to RM7.48.

Most active was Tiger Synergy Bhd which added one sen to 16 sen with some 62 million shares done .



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Plantations top losers midday

KUALA LUMPUR (March 15): PLANTATION []s were the top losers in the morning on Thursday but volume was relatively thin, as investors took profit after the recent run-up.

At 11.52am, Far East was down 38 sen to RM7.22, PPB 18 sen to RM16.80, Batu Kawan 14 sen to RM18.54 and IOI Corp eight sen lower to RM5.24.

The FBM KLCI shed 0.09 of a point to 1,575.62. Turnover was 569.98 million shares valued at RM567.17 million. There were 230 gainers, 352 losers and 316 stocks unchanged.

Crude palm oil prices for May delivery dipped RM1 to RM3,384 a tonne.



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KLCI closes sharply higher as regional markets end mixed

KUALA LUMPUR (March 14): the FBM KLCI rose sharply higher in late trade on Wednesday to stay firmly above the 1,570-point level, lifted by gains at select bue chips including Sime Darby, Axiata, Petronas Gas, PPB and BAT.

The 30-stock index closed 11.69 points higher at 1,575.71.

Meanwhile, Shanghai and Hong Kong shares reversed early gains to snap a four-session winning streak on Wednesday, dragged by China plays after Premier Wen Jiabao doused expectations for easing in the property sector at the close of China's annual parliamentary meeting, according to Reuters.

At the regional markets, the Shanghai Composite Index fell 2.63% to 2,391.23 and Hong kOng’s Hang Seng Index lost 0.15% to 21,307.89.

Meanwhile, Japan’s Nikkei 225 closed 1.53% higher at 10.050.52, South Korea’s Kospi added 0.99% to 2,045.08, and Taiwan’s Taiex gained 1.17% to 8,125.26 and Singapore’s Straits Times Index

CIMB Research in its Alpha Edge report on March 14 covering regional markets said last week’s resurgence of US and regional equity markets indicated that it was still not time for a major correction though markets should be close to one.

“Last night, the VIX (Chicago Board Options Exchange (CBOE) Volatility Index) fell to a four-year low, showing signs of complacency among investors. We remain bearish on prospects for this year,” it said.

The research house said that over the past week, the KLCI had been drifting downwards. It is now holding just above the support trendline at 1,568 points.

“A sharp breakdown of this support would convince us that the uptrend since last November has already ended.

“Until that happens, we cannot discount another short upleg towards the 1,580-1,600 levels,” it said.

On Bursa Malaysia, the top gainer was BAT that rose RM1.18 to RM53.98, Petronas Gas gained 48 sen to RM16.98, Far East up 35 sen to RM7.60, Aeon 29 een to RM9.40, PPB 28 wen to RM16.98, Aeon Credit up 25 sen to RM8.35, GAB 24 sen to RM13.48, Shell 22 sen to RM10.22 while Sarawak Oil Palm added 20 sen to RM6.23, while Axiata added six sen to RM5.12 and Sime Darby gaind two sen to RM9.71.

Naim Indah Corp was the most actively traded counter with 117.8 million shares done. The stock fell 2.5 sen to 66 sen.

Other actives included CSL, YTL, Tiger Synergy, HWGB, Euro Holdings, Axiata, Sime Darby, Astral Supreme and Silber Bird.



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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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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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KL stocks wring gains at midday

Bursa Malaysia shares extended its downtrend midday dragged by losses mainly in plantation-related counters led by Kuala Lumpur Kepong, dealers said.

However, the FTSE Bursa Malaysia (FBM KLCI) recovered from its earlier losses and gained 0.18 of a point to end the morning session at 1,563 points.

Market sentiment continued to be influenced by developments in the euro zone while at home, the fourth quarter gross domestic product data was expected to be released this week.

The Finance Index perked 18.16 points to 13,845.73, the Plantation Index fell 34.92 points to 8,890.32 and the Industrial Index added 4.47 points to 2,910.94.

The FBM Emas Index gave up 11.49 points to 10,867.04, the FBM Ace Index fell 45.06 points to 4,700.81 and the FBM Mid 70 Index declined 45.5 points to 12,379.39.

Losers outnumbered gainers 530 to 229 with 307 counters unchanged, 414 untraded and 16 others suspended.

Turnover stood 1.367 billion shares worth RM969.69 million. For actives, British American Tobacco rose 28 sen to RM51.78, Far East Holdings advanced 20 sen to RM7.40 and Petronas Gas gained 16 sen to RM16.76.

Among heavyweights, Maybank was unchanged at RM8.50, Sime Darby inched up two sen to RM9.63, Petronas Chemicals rose three sen to RM6.98 and CIMB added eight sen to RM7.24. -- Bernama



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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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KLCI snaps 2-day rally, Tenaga, Genting weigh

KUALA LUMPUR (Feb 10): The 30-stock FBM KLCI snapped its two-day run-up as investors decided to take profit and await the outcome of the long-awaited Greek debt deal which remained elusive, analysts said.

The profit taking was confined to Tenaga, Genting and IOI Corp, dragging the KLCI down 3.66 points to 1,561.66. Turnover was 3.35 billion shares valued at RM2.81 billion.

The broader market was firmer, underpinned by some nibbling of penny stocks and lower liners, enabling advancing counters to beat decliners 566 to 371 while 315 stocks were unchanged.

Reuters reported the FTSEurofirst 300 index of top European shares was down 0.55% at 1,067.63. The STOXX Europe 600 euro zone Banking Index, exposed to the euro zone's sovereign debt crisis, shed 1.4%.

Earlier, Asian stocks also lost ground, leaving global stocks as measured by the MSCI index down 0.6% at 326.04.

At Bursa Malaysia, Tenaga fell 19 sen to RM6.11 on rising concerns about further compensation for the power giant which is still facing a severe gas shortage. While Tenaga, Petroliam Nasional Bhd and the government had agreed to share the RM3 billion incurred between January 2010 and October 2011, there was no plan yet on how to absorb the additional cost of burning distillates after that period.

GENTING BHD [] fell 16 sen to RM10.30. DRB-Hicom, which had a strong run-up on its takeover of Khazanah Malaysia’s 42.7% stake of Proton, fell 16 sen to RM2.98.

Puncak Niaga fell the most, down 23 sen to RM1.66 after surging 44 sen on Thursday. KPS lost 15 sen to RM1.24 and KHSB 11.5 sen to 66.5 sen.

Tebrau Teguh rose 8.5 sen to 89 sen and it was the most active with 150.66 million shares done. The 89 sen closing price was a 13 sen premium over the takeover price of 76 sen offered by Iskandar Waterfront Holdings Sdn Bhd (IWH). IWH is buying a 33.15% stake in the company from Kumpulan Prasarana Rakyat Johor Sdn Bhd (KPRJ) for RM168.7 million.

Among PLANTATION []s, plantation player IOI Corp shed 13 sen to RM5.47. However, BLD Plantations was the top gainer, up 52 sen to RM9.67, Far East 30 sen to RM7.30 and United Plantations 20 sen higher at RM22.

Among consumer stocks, Dutch Lady added 50 sen to RM25.38 and Amway 14 sen to RM9.80.



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KLCI stages late rally, banks advance on steadier economic outlook

KUALA LUMPUR: Blue chips on Bursa Malaysia staged a late push on Thursday, pushing the FBM KLCI closer its all-time high of 1,597 in mid-July 2011 as banks advanced on steadier outlook for the economy following the release of fresh economic data.

The KLCI closed up 12.14 points or 0.78% to 1,565.32 while volume was still strong at 3.31 billion shares valued at RM2.98 billion. Gainers led losers 446 to 456 with 309 counters unchanged.

December’s industrial production index expanded 3.0% on-year underpinned by the stronger manufacturing sector and electricity output, which was higher than expectations.

Meanwhile, Credit Suisse's Emerging Markets Economic Research expected Malaysia's real GDP growth to continue outperforming other small open economies in the region.

"Malaysia’s real GDP growth has outperformed industrial production growth since the global financial crisis, as the services sector has been the main contributor to real GDP growth during this period. Our real GDP growth forecasts for 2011 and 2012 remain unchanged at 5% and 4.8%, respectively, above the consensus forecast of 3.8% for 2012,” it said.

The growth would be underpinned by the strong domestic demand, high palm and crude oil prices, and the fiscal boost from the government, said the research house.

Despite starting the trading day on a weak note, the KLCI outperformed other regional bourses beating Shanghai's Composite Index closed up 0.09% to 2,349.59, South Korea's Kospi Index rose 0.54% to 2,014.62 and Taiwan's Taeix Index increased 0.52% to 7,910.78. Japan's Nikkei fell 0.15% to 9,002.24 and Singapore's Straits Index was down 0.16% to 2,977.31.

At Bursa Malaysia, among the lower liners and penny stocks which were the top performers were Selangor-linked stocks which were also involved in the water industry.

Dominating the top gainers’ list were KUMPULAN PERANGSANG SELANGOR [] and KUMPULAN HARTANAH SELANGOR BHD [] both up 27 sen to RM1.39 and 78 sen respectively. PUNCAK NIAGA HOLDINGS BHD [] was also up 44 sen to RM1.89, prompting an unusual market activity query by Bursa Malaysia. Water pipe manufacturer JAKS Resources climbed 14 sen to 72 sen.

Other index-linked stocks which closed higher include KLK up 56 sen to RM25.50, Carlsberg 29 sen to RM9.60, British American Tobacco 26 sen to RM50.26 and RHB Cap 20 sen to RM7.20.

Axiata gained 19 sen to RM4.97, pushing the index up 3.80 points, IOI Corp pushed the index up 1.97 points. Among the banks, RHB Cap added 20 sen to RM7.20, AMMB 14 sen to RM6.10, CIMB nine sen to RM7.20 and Maybank six sen to RM8.47.

Among actively traded stocks, Naim Indah rose 18 sen to close at 67 sen as a Bursa Malaysia Securities caution to investors saw it closing off the day’s best of 75 sen.

The worst performer was FarEast down 30 sen to RM7.00 followed by Maybulk 18 sen to RM2.01, Nestle 16 sen to RM55.52 and Aeon 15 sen to RM7.85.



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KLCI extends gains, Axiata, banks lift

KUALA LUMPUR (Feb 9): Fund buying of Axiata and banks pushed the FBM KLCI up more than five points in the morning session on Thursday amid some profit taking while the overall market was mixed.

At 12.30pm, the KLCI was up 5.04 points to 1,558.22. Turnover was 1.89 billion shares valued at RM1.29 billion. Losers led gainers 474 to 324 while 303 counters were unchanged.

Key regional markets were mixed on profit taking while uncertainty on the terms of a 130 billion euro (US$172 billion) rescue package for Greece held the buying in check. Euro area finance ministers are scheduled to meet Thursday.

US light crude oil rose 19 cents to US$98.90 per barrel. Crude palm oil price inched up RM2 to RM3,151 per tonne.

Market sentiment should be firmer in the afternoon session after the Statistics Department announced that December’s industrial production index (IPI) increased by 3.0% on-year, underpinned by the stronger manufacturing sector and electricity output.

The IPI increased 3.5% month-on-month in December 2011 while the IPI in November 2011 was revised to 2.4% year-on-year. As for the whole year of 2011, the IPI increased 1.4% from 2010.

The major index movers were Axiata, up 16 sen to RM4.94, pushing the KLCI up 3.20 points. CIMB added six sen to RM7.17, Maybank four sen to RM8.45, AMMB seven sen to RM6.03 and RHB Capital 12 sen to RM7.12.

Carlsberg was the top gainer, up 27 sen to RM9.58.

WCT added 13 sen to RM2.71 after it secured a RM300.52 million contract for the headquarters of the Ministry of International Trade and Industry from Putrajaya Management Sdn Bhd.

Naim Indah Corporation continued its rally to as 11-year high of 67.5 sen, up 18.5 sen with 257.9 million shares done as speculators hoped for a turnaround with the entry of new shareholders.

Among the six new shareholders include Datuk Raymond Chan Boon Siew. Chan, a major shareholder and executive director of HARVEST COURT INDUSTRIES BHD [], will hold the largest stake of 12.11% or 85 million shares. Chan is also the managing director of Sagajuta (Sabah) Sdn Bhd, a property developer.

Tenaga, which staged a surge on Wednesday, slipped eight sen to RM6.30 and dragged the KLCI by 1.02 points. IOI Corp fell four sen to RM5.43, Hong Leong Bank eight sen to RM11.52.

Far East fell 30 sen to RM7 in thin trade, Aeon 20 and United PLANTATION []s 20 sen each to RM7.80 and RM21.60 and Maybulk 18 sen to RM2.01.



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KLCI pares down losses at mid-day

KUALA LUMPUR (Jan 18): The FBM KLCI pared down some of its losses at the mid-day break on Wednesday as key regional markets steadied on favourable economic data from China a day earlier.

However, cautioned reigned as focus returned to Europe with Portugal testing investor confidence in a debt sale and Greece resuming talks on its debt restructuring.

The FBM KLCI shed 0.14 of a point to 1,519.22 at the mid-day break on Wednesday. It had earlier fallen to its intra-morning low of 1,514.39.

Gainers trailed losers by 288 to 316, while 316 counters traded unchanged. Volume was 733.89 million shares valued at RM584.19 million.

The ringgit strengthened 0.25% to 3,1175 versus the US dollar; crude palm oil futures for the third month delivery fell RM8 per tonne to RM3,156, crude oil added 62 cents per barrel to US$101.33 while gold gained US$1.97 an ounce to US$1,654.02.

At the regional markets, Japan’s Nikkei 225 rose 1.42% to 8,586.73, Hong Kong’s Hang Seng Index gained 0.30% to 19,685.80, South Korea’s Kospi was up 0.29% to 1,898.18, Taiwan’s Taiex rose 0.20% to 7,235.27 and Singapore’s Straits Times Index gained 0.19% to 2,821.27.

Meanwhile, the Shanghai Composite Index fell 0.33% to 2,290.81.

On Bursa Malaysia, Eupe fell 14.5 sen to 48.5 sen, Ibraco and MMHE lost 14 sen each to RM1.30 and RM5.30, Ireka lost 13 sen to 66 sen, Petronas Gas 12 sen to RM15.26, Tenaga 11 sen to RM6.12, Metrod 10 sen to RM2, Perduren down 7.5 sen to 75 sen, while Fututec and Maybank fell seven sen each to 72 sen and RM8.22.

Among the gainers, GAB added 40 sen to RM12.20, KLK 24 sen to RM24.88, Far East 20 sen to RM7.20, MPHB 14 sen to RM2.86, Sungei Bagan and Petronas Chemicals up 12 sen each to RM2.94 and RM6.63, Degem 10.5 sen to RM1.05, while Batu Kawan and BAT added 10 sen each to RM18.66 and RM49.90.

DBE Gurney was the most actively traded counter with 70.3 million shares done. The stock gained one sen to 10 sen.

Other actives included Compugates, Wijaya, XDL, E&O, BIMB and MPHB.



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KLCI snaps winning streak, but adds 8.94 points week-on-week

KUALA LUMPUR (Jan 13): The FBM KLCI snapped its four-day winning streak and fell on Friday as key regional markets ended the week on a mixed note.

European shares and the single currency rose on Friday after positive comments on the region's outlook from the European Central Bank and the success of Spain's bond auction, with attention focused on Italy's first debt sale of the year, according to Reuters.

The FBM KLCI closed 2.49 points lower at 1,523.07. Week-on-week, however, the index gained 8.94 points.

Losers edged gainers by 397 to 373, while 339 counters traded unchanged. Volume was 1.77 billion shares valued at RM1.61 billion.

Affin Investment Bank Bhd vice president and head of retail research Dr Nazri Khan said the FBM KLCI was likely to extend gains towards 1,550 level following a round of well-received debt auctions in Spain and Italy, expected monetary easing in China and huge liquidity on the domestic front.

“The fact that Italy and Spain sold a total of €22bn ($28bn) of sovereign debt at sharply reduced prices (with implied borrowing costs falling to lowest levels since March 2011) is a major surprise and suggest the European funding problem is gradually improving,” he said.

At the regional markets, Japan’s Nikkei 225 rose 1.36% to 8,500.02, Hong Kong’s Hang Seng Index added 0.57% to 19,204.42, South Korea’s Kospi gained 0.60% to 1,875.68 and Singapore’s Straits Times Index jumped 1.75% to 2,791.54.

Meanwhile, the Shanghai Composite Index fell 1.34% to 2,244.58 and Taiwan’s Taiex shed 0.07% to 7,181.54.

On Bursa Malaysia, Dutch Lady fell 32 sen to RM25.78, Far East down 30 sen to RM6.90, Proton 28 sen to RM5.18, Iretex 12 sen to RM1.05, Advanced Packaging 11 sen to RM1.19, while Aeon, CBIP, JT International and HLFG lost 10 sen each to RM7.35, RM4.75, RM7.08 and RM11.70 respectively.

Among the gainers, Malayan Flour Mills added 31 sen to RM7.86, Supermax 21 sen to RM4.55, Carlsberg and Nestle added 20 sen each to RM8.63 and RM56, Hartalega, MBM Resources and Parkson rose 17 sen each to RM6.57, RM3.47 and RM5.70 respectively, while Milux and Kian Joo added 15 sen to RM1.44 and RM2.16.

Compugates was the most actively traded counter with 101.3 million shares done. The stock added one sen to 7 sen.

Other actives included DRB-Hicom, Utopia and Proton.



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KLCI nudges up at mid-day as Asian markets pare down losses

KUALA LUMPUR (Dec 14): The FBM KLCI nudged up marginally at the mid-day break on Wednesday as most key Asian markets pared down their losses.

At 12.30pm, the FBM KLCI gained 0.03% or 0.40 point to 1,465.79. The index had earlier slipped to its intra-morning low of 1,459.45.

Gainers trailed losers by 232 to 320, while 293 counters traded unchanged. Volume was 808.93 million shares valued at RM455.72 million.

The ringgit weakened 0.19% to 3,18677 versus the US dollar; crude palm oil futures for the third month delivery fell RM12 per tonne to RM2,995, crude oil shed 23 cents a barrel to US$99.91 while gold fell US$7.35 an ounce to US$1,638.93.

At the regional markets, Japan’s Nikkei 225 was down 0.53% to 8,507.11, Hong Kong’s Hang Seng Index fell 0.18% to 18,413.79, the Shanghai Composite Index shed 0.13% to 2,245,57, South Korea’s Kospi lost 0.41% to 1,856.40 and Singapore’s Straits Times Index was down 0.20% to 2,680.26.

Meanwhile, Taiwan’s Taiex added 0.13% to 6,905.00.

On Bursa Malaysia, Nestle led the gainers and was up 48 sen to RM56.48; F&N added 24 sen to RM18.46, GAB 16 sen to RM13.14, Suria 15 sen to RM1.75, CI Holdings 14 sen to RM1.31, P.I.E. added 12 sen to RM3.96, BIMB 11 sen to RM1.84, Goldis nine sen to RM1.88 while AIRB was up eight sen to RM1.64.

Among banking stocks, RHB Capital gained eight sen to RM6.94, Maybank six sen to RM8.25 while CIMB and Public Bank added two sen each to RM6.86 and RM12.70.

PLANTATION []-related stocks were among the decliners this morning, with KLK down 40 sen to RM22.70, BLD Plantations 16 sen to RM7.14, PPB 14 sen to RM16.22 and Boustead 11 sen to RM5.31.

Other losers included Dutch Lady that fell 40 sen to RM26, Asia File 28 sen to RM3.50, BAT 16 sen to RM48.54, HLFG 12 sen to RM11.58, while Far East and Petronas Dagangan lost 10 sen each to RM7 and RM17.28.

Takaso was the most actively traded counter with 74.8 million shares done. The stock added two sen to 21.5 sen.

Other actives included Sanichi, Envair, Versatile, Kurnia Asia and Flonic.



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