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 pares down gains at mid-day as Asian equities turn negative

KUALA LUMPUR (May 10): The FBM KLCI rebounded at the mid-day break on Thursday but pared down its gains as some regional markets turned negative.

Asian shares fell on Thursday, as a weak Chinese trade data stoked fears of a growth slowdown, further undermining risk appetites already reduced by worries about the health of Spanish banks and deepening political chaos in Greece, according to Reuters.

The FBM KLCI gained 3.51 points to 1,588.41 at the mid-day break, lifted by select blue chips. It had earlier risen to its intra-morning high of 1,590.20.

Losers edged gainers by 332 to 256, while 309 counters traded unchanged. Volume was 722.32 million shares valued at RM493.12 million.

The ringgit strengthened 0.11% to 3.0681 versus the greenback; crude palm oil futures for the third month delivery rose RM25 per tonne to RM3,349, crude oil fell 37 cents per barrel tp US$96.44 while gold rose US$4.18 an ounce to US$1,593.75.

At the regional markets, Japan’s Nikkei 225 fell 0.11% to 9,035.48, Hong Kong’s Hang Seng Index lost 0.93% to 20,141.90, the Shanghai Composite Index shed 0.18% to 2,404.15, Taiwan’s Taiex was down 0.16% to 7,487.42, South Korea’s Kospi down 0.10% to 1,948.35 and Singapore’s Straits Times Index fell 0.20% to 2,895.11.

ON Bursa Malaysia, BAT was the top gainer in the morning session and rose 36 sen to RM54.74, Petronas Gas added 30 sen to RM17.28, United PLANTATION []s and Ajinomoto were up 24 sen each to RM26.18 and RM4.47, Petronas Dagangan 16 sen to RM19.86, KrisAssets 12 sen to RM7.12, whiel Hup Seng, RHB Capital and GAB added 10 sen each to RM2.35, RM7.43 and RM13.64.

Focus was the most actively traded counter with 103.8 million shares done. The stock rose two sen to 16.5 sen.

Other actives included Utopia, Ariantec, ManagePay, Naim indah Corp, Astral Supreme, SuperComNet and Permaju.

Decliners included Tahps, The Store, Tradewinds, Panasonic, Dutch Lady, Ekovest, Shell, PPB, KESM and Fiamma.



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KLCI crosses 1,590-level as blue chips lift

KUALA LUMPUR (May 8): The FBM KLCI closed higher on Tuesday on some mild bargain hunting while regional markets ended mixed, albeit recovering from sharp decline on Monday after election results in Europe spooked investors.

The FBM KLCI rose 5.73 points to close at 1,590.60 on Tuesday, lifted by gains including at BAT, Petronas-linked counters and Genting.

Gainers beat losers by 404 to 307, while 357 counters traded unchanged. Volume was 1.27 billion shares valued at RM1.24 billion.

Uncertainty over the implications of the Greek and French elections for Europe's efforts to resolve its debt crisis sent the euro and shares lower on Tuesday and supported safe-haven German government bonds, according to Reuters.

Attention is focused on Greece where politicians are struggling to form a government after voters plunged their country into limbo in Sunday's election. The uncertainty has reignited fears its hard-fought bailout deal could unravel, forcing the country's exit from the euro, it said.

At the regional markets, the Shanghai Composite Index shed 0.12% to 2,448.88, Hong Kong’s Hang Seng index was down 0.25% to 20,484.75, while Japan’s Nikkei 225 rose 0.69% to 9,181.65, South Korea’s Kospi gained 0.54% to 1,967.01, Taiwan’s taiex added 0.10% to 7,545.71 and Singapore’s Straits Times Index.

On Bursa Malaysia, BAT and Petronas Dagangan added 52 sen each to RM55.68 and RM19.94, Tasek and Dutch Lady were up 26 sen each to RM9.29 and RM33.30, Kulim 21 sen to RM4.45, MKH 20 sen to RM2.40, GAB 18 sen to RM13.34, Ekovest 17 sen to RM2.65, Iretex 16 sen to RM1.30, Permaju 14.5 sen to 87.5 sen, Petronas Gas 14 sen to RM17, Genting 10 sen to RM10.66 and Petronas Chemicals two sen to RM6.57.

Ariantec was the most actively traded counter with 76.74 million shares done. The stock fell half a sen to 24.5 sen.

Other actives included Naim indah Corp, Compugates, Sanbumi, TMS, Harvest, Permaju, JCY and Metronic.

Decliners included Jaya Tiasa, Toyo Ink, MMHE, Lafarge Malayan Cement, Sarawak Oil Palms, JCY, Top Glove, Ibraco and IJM land.



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KLCI erases gains, up 2.3pts at midday

KUALA LUMPUR (April 13): The Malaysian equities barometer erased earlier gains, but still managed to settle in positive territory towards the Friday lunch break.

Gains in the FBM KLCI were in tandem with global markets, which found support from updates that Italian government bonds have seen better than expected demand, although China's first quarter economic growth of 8.1% came in below street estimates.

In technical terms, analysts said dynamics of the FBM KLCI are still weak. In a note on Friday, Kenanga Investment Bank Bhd said that although the index had breached the 1,600-point level, technical dynamics of the index are still deemed weak unless the gauge trades above the all-time high of 1,609.33.

This could result in an uptrend resumption for the FBM KLCI, according to Kenanga.

At 12.30pm, the FBM KLCI added 2.3 points to 1,603.57. Across the exchange, some 653 million shares worth RM612 million were traded, leading to 331 gainers versus 277 decliners.

Top gainer Sam Engineering & Equipment (M) Bhd rose 58 sen to RM2.65, while GUINNESS ANCHOR BHD [] was up 36 sen to RM13.

Decliner Tradewinds PLANTATION [] Bhd fell 21 sen to RM5.69, while KLUANG RUBBER CO (M) BHD [] was down 10 sen to RM2.80.

Most active was INGENUITY SOLUTIONS BHD [], which added one sen to 10 sen with some 100 million shares done.

Among Asian bourses, Japan's Nikkei 225 rose 1.41% to 9,658.66 points, while Australia's S&P/ASX 200 added 0.8% to 4,314.7. The Shanghai Composite was up 0.18% 2,355.14.



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Tenaga, blue chips lift KLCI

KUALA LUMPUR (April 12): The FBM KLCI closed higher on Thursday, lifted by gains at blue chips including Tenaga, Genting PLANTATION []s and Petronas Dagangan.

The FBM KLCI gained 4.10 points to close at 1,601.27.

Losers edged gainers by 366 to 360, while 321 counters traded unchanged. Volume was 1.11 billion shares valued at RM1.60 billion.

At the regional markets, most of the bourses reversed earlier losses as the Shanghai Composite Index rose more than 1.8%.

Meanwhile, Hong Kong shares rose on Thursday lifted by the rally in mainland markets on the back of reports of proposals to boost economic development in Shenzen as well as optimism of easier monetary policy following GDP data due later in the week, according to Reuters.

The euro neared a one-week high against the dollar and European bond markets steadied on Thursday as investors awaited an Italian debt sale that will show whether concerns over Spain are spreading to other debt-laden euro zone nations, it said.

At the regional markets, the Shanghai Composite Index rose 1.82% to 2,350.86, Hong Kong’s Hang Seng Index added 0.93% to 20,327.32,Japan’s Nikkei 225 gained 0.70% to 9.524.79, Taiwan’s Taiex edged up 0.08% to 7,662.92, whiel South Korea’s Kospi fell 0.39% to 1,986.63.

On Bursa Malaysia, Jaya Tiasa was the top gainer and rose 44 sen to RM8.99, SMPC up 34 sen to RM1.48, Tradewinds Plantations gained 19 sen to RM5.90, Cybertowers and Sarawak Oil Palms up 16 sen each to 75 sen and RM6.88, Genting Plantations and Brahims 15 sen each to RM9.67 and RM1.33, while Tenaga, Bat and United Plantations rose 14 sen each to RM6.51, RM54.84 and RM24.90 respectively.

Among the decliners, Warisan fell 30 sen to RM2.20, GAB down 22 sen to RM12.64, KLK 18 sen to RM24.32, BLD Plantations 16 sen to RM9.23, Panasonic, Manulife, Top Glove and LPI down 12 sen each to RM21.50, RM3.25, RM4.20 and RM13.80 respectively, RHB Capital fell 11 sen to RM7.36 and Shangri-La lost 10 sen to RM2.98.

The actives included JCY, Tiger Synergy, Asia Bio, Metronic, Ariantec and CSL.



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KLCI falls in tandem with regional markets

KUALA LUMPUR (April 9): A slew of negative external developments weighed down investor sentiment at the local bourse, and the FBM KLCI closed in the red on Monday.

Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, prompting investors to curb risk exposure ahead of more U.S. data and earnings as well as figures from China this week, according to Reuters.

China stocks fell 0.9 percent on Monday, led by property firms, after data showed the inflation rate rose more than expected last month, prompting speculation that Beijing may delay further easing of monetary policy, it said.

The FBM KLCI closed 7.59 points lower at 1,591.28.

Market breadth was negative with 468 losers, 238 gainers and 322 counters trading unchanged. Volume was 1.08 billion shares valued at RM1.08 billion.

At the regional markets, Japan’s Nikkei 225 fell 1.47% to 9.546.26, the Shanghai Composite index was down 0.90% to 2,285.78, south Korea’a Kospi fell 1.57% to 1,997.08, Taiwan’s Taiex was fell 1.27% to 7,600.87 and Singapore’ Straits Times Index shed 0.87% to 2,960.10.

On Bursa Malaysia, BAT was the top loser and fell 74 sen to RM54.72, KrisAssets down 21 sen to RM6.67, BLD PLANTATION []s and Toyo Ink fell 20 sen each to RM9.20 and RM1.47, Panasonic and Petronas Dagangan down 18 sen each to RM21.70 and RM18.66, TDM and KLK lost 14 sen each to RM4.81 and RM24.50, while GAB and Petronas Gas were down 12 sen each to RM12.96 and RM16.66.

Naim Indah Corp was the most actively traded counter with 113.6 million shares done. The stock fell four sen to 53 sen.

Other actives included Metronic, DVM, EITA, Managed Pay, SuperComNet, Tiger Synergy and Focus.

Gainers included Aeon, SMPC, Milux, Kluang, Hong Leong Industries, Nationwide, Tanjung Offshore, Parkson, UMS and Nestle.



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FBM KLCI slips at mid-day break, but hovers above 1,590-level

KUALA LUMPUR (April 9): The FBM KLCI slipped into negative territory on Monday, in line with the waning sentiment at key regional markets, following a drop in US jobs growth that was reported last week.

Among the better performers on Bursa Malaysia in the morning session was newly-listed EITA Resources Bhd.

The FBM KLCI lost 4.66 points to 1,594.21 at 12.30pm.

Market breadth was weaker with 378 losers and 185 gainers, while 264 counters traded unchanged. Volume was 578.5 million shares valued at RM420.14 million.

The ringgit weakened 0.29% to 3,0728 versus the US dollar; crude palm oil futures for the third month delivery rose M13 per tonne to RM3,590, crude oil fell US$1.19 per barrel to US$101.12 while gold added US$2.05 an ounce to US$1,638.47.

Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy, prompting investors to curb risk exposure ahead of more U.S. data and earnings as well as figures from China this week, according to Reuters.

BIMB Securities Research in a note Monday said it would be a stop start scenario for equities this week following a weaker than expected job data for March in the US.

Therefore, investors and traders alike will reassess their risk/reward propositions before making more commitments, it said.

As of now, the lack of fresh catalysts will be the main excuse as well as the resurrection of Eurozone’s debt situation to be road bumps ahead for equity markets.

Then again, if both the US and China are to lean towards monetary easing, these may set the markets abuzz again.

For now, we can expect loads of fence sitters.

“Locally, the FBM KLCI failed to breach the 1,600 mark despite adding another 5 points to end the week at almost 1,599.

“For now, the lack of direction with some regional markets closed, we would expect a lacklustre market today with the immediate support seen at 1,590,” it said.

ON Bursa Malaysia, BAT fell 74 sen to RM54.72, Petronas Dagangan 30 sen to RM18.54, BLD PLANTATION []s fell 19 sen to RM9.21, KLK down 14 sen to RM24.50, GAB and Public Bank lost 12 sen each to RM12.96 and RM13.68, Chin Teck lost nine sen to RM9.06 while TDM was down eight sen to RM4.87.

Naim Indah Corp was the most actively traded counter with 81.28 million shares done. The stock fell three sen to 54 sen.

Other actives included EITA that rose 10.5 sen to 86.5 sen wth 30 millin shares traded.

Other actively traded stocks included DVM, Tiger Synergy, Time, SuperComNet, Metronic, Karambunai and Focus.

Gainers included Aeon, SMPC, KLuang, Dutch Lady, Eita, Hartalega, Nationwide, Parkson, Johore Tin and Nestle.



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KLCI extends loss for second day running

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

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

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

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

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

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

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

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

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

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

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

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



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KLCI snaps winning streak, drops below 1,600-level

KUALA LUMPUR (April 4): The FBM KLCI snapped its winning streak on Wednesday and fell below the 1,600-point level, in line with the retreat at most global markets after on generally weaker sentiment at key regional markets following the overnight dip at Wall Street.

The FBM KLCI fell 7.36 points to close at 1,599.27, weighed by losses and banking and select blue chips.

"Stocks and the euro fell on Wednesday after the US Federal Reserve dimmed hopes for fresh asset-buying, further underlining its divergence with an embattled Europe that remains in crisis-fighting mode," according to Reuters.

Overnight minutes from the Fed's March meet showed less support for more quantitative easing (QE), or bond-buying, in the face of improved economic data, which buoyed the dollar and hit stocks in both the United States and Asia, it said.

With Europe still battling its debt crisis and struggling with economic growth, the focus later will be on the European Central Bank's latest rate-setting meeting, with rates expected to remain on hold at 1%, said Reuters.

At the regional markets, Japan’s Nikkei 225 fell 2.29% to 9,819.99, South Korea’s Kospi fell 1.60% to 2,018.61, and Taiwan’s Taiex lost 1.3% to 7,760.85, while Singapore’s Straits Times Index

The Hong Kong and Shanghai markets were closed for a public holiday.

On Bursa Malaysia, among the banking stocks, CIMB and RHB Capital lost nine sen each to RM7.72 and RM7.74, Hong Leong Bank and HLFG lost eight sen each to RM12.38 and RM12.48, AMMB down six sen to RM6.32, while Public Bank shed two sen to RM13.78.

Among the other decliners, BAT fell 64 sen to RM55.58, Dutch lady down 44 sen to RM35.50, Carlsberg fell 20 sen to RM10.60, F&N 18 sen to RM19, Sarawak Oil Palms 13 sen to RM6.81, while BLD PLANTATION []s, Cepco, Shell, Tenaga and PPB fell 10 sen each to RM9.15, RM1.55, RM10.18, RM6.47 and RM16.60 respectively.

GAB was the top gainer and rose 16 sen to RM13.20, Milux gained 15 sen to RM1.40, GBH 13 sen to RM1.25, Kamdar 12.5 sen to 49.5 sen, Malpac and JCY 10 sen each to RM1.59 and RM1.29, Tradewinds Plantations nine sen to RM4.94, Kurasia 6.5 sen to 63.5 sen and Tradewinds up six sen to RM9.60.

The actives included Ingenuity Solutions, Metronic, Cerotech, ManagePay, Naim Indah Corp, Ariantec, JCY and SuperComNet.



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KLCI edges lower at mid-morning as regional markets dip

KUALA LUMPUR (March 29): the FBM KLCI edged lower on Thursday in line with the weaker sentiment at key regional markets, following the sharp decline at the Shanghai Composite Index a day earlier.

Asian shares eased for a second day in a row on Thursday, as investors limited their risk exposures on concerns about growth prospects in the world's two largest economies, the United States and China, according to Reuters.

Commodity related assets were likely to be on the defensive after oil and copper fell the previous day, while a sharp decline in Chinese shares will weigh on the Australian dollar, as China is Australia's single largest export market, it said.

The FBM KLCI was down 0.29 of a point to 1,583.46 at 10am. Gainers trailed losers by 143 ti 208, while 238 counters traded unchanged. Volume was 356.91 million shares valued at RN160.94 million.

At the regional markets, Japan’s Nikkei fell 0.88% to 10,093.20, Hong Kong’Hang Seng Index lost 1.13% to 20,649.60, the Shanghai Composite Index shed 0.75% to 2,267.81, Taiwan’s taiex lost 1.83% to 7,890.95, South Korea’s Kospi fell 1.26% to 2,006.14 and Singapore’s Straits Times Index fell 0.54% to 2,999.55.

BIMB Securities Research in a note March 29 said equity markets ended lower (on March 28) amid a directionless trading day.

With no new developments, traders revisited “old” concerns of slowing global economy to justify their selling on oil and commodities related stocks, it said.

“As a consequence, the Dow Jones Industrial Average dipped almost 72 points to 13,126. Reflecting the less than optimistic sentiments, European bourses also succumbed to the selling pressure and closed yesterday’s session broadly lower,” it said.

The research house said Asian equities followed suit with only a handful managed to close on a positive territory.

Taking cue from a weaker regional performance, the FBM KLCI lost 4 points to just below the immediate 1,585 support at 1,583.75, it said.

“Meanwhile, we again saw a net foreign participation of RM132 million yesterday pushing year-to-date total to RM4.67billion.

“Although the amount is not huge, foreign funds have been trickling in continuously for the month of March with a cumulative amount of a whopping RM2.8 billion. We expect some market weakness today with the immediate support at 1,580,” it said.

On Bursa Malaysia, GAB was the top loser at mid-morning and fell 16 sen to RM13.08, BLD PLANTATION []s down 15 sen to RM9.25, RHB Capital nine sen to RM&.81, Hong Leong Bank, Panasonic and Tenaga fell eight sen each to RM12.14, RM21.92 and RM6.34 respectively, SBC Corp seven sen to 91 sen, while Nestle, KrisAssets and HLFG fell six sen each to RM55.90, RM6.94 and RM12.22 respectively.

Naim Indah Corp was the most actively traded counter wit h 47.23 million shares done. The stock rose 1.5 sen to 49.5 sen.

Other actives included SuperComnet, Ariantec, metronic, Iris Corp, Key West, Hubline warrants and Bintai.

Gainers included Dutch Lady, BAT, Toyo Ink, shell, Crescendo, MUH, Southern acids, UAC and MISC.



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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 stays above 1,570-level at mid-day

KUALA LUMPUR (March 14): The FBM KLCI remained in positive territory at the mid-day break on Wednesday and stayed above the 1,570 level in line with the positive sentiment at key regional markets.

Asian markets extended their gains from the morning on the back of a firmer overnight close at Wall Street and were given an added impetus after most of the largest U.S. banks passed their annual stress test, according to the Federal Reserve, in a conservative report card that underscored the recovery of the financial sector but called out a few laggards, including Citigroup.

The Fed announced the results in an earlier-than-expected release on Tuesday. JPMorgan Chase pulled the trigger on announcing its own glowing marks before the Fed's release, and helped lift the stock market, according to Reuters.

At 12.30pm, the KLCI was up 9.20 points to 1,573.22. Gainers led losers by 427 to 221, while 318 counters traded unchanged. Volume was 630.98 million shares valued at RM701.74 million.

The ringgit weakened 0.20% to 3.0044 versus the US dollar; crude palm oil futures for the third month delivery rose RM45 per tonne to RM3,337, crude oil added 32 cents per barrel to US$107.90 while gold rose US$5.18 an ounce to US$1,704.95.

At the regional markets, Japan's Nikkei 225 rose 1.74% to 10,071.70, Hong Kong’s Hong Seng Index rose 1.28% to 21,613.40, the shanghai Composite Index added 0.74% to 2,474.07, South Korea’s Kospi gained 1.34% to 2,052.22 and Singapore’s Straits Times Index was up 1.14% to 3,023.10.

At Bursa Malaysia, BAT added RM1.18 to RM53.98, Aeon 39 sen to RM9.50, GAB 20 sen to RM13.44, Toyo Ink 19 wen to RM1.63, United PLANTATION []s and Shell 18 sen each to RM25 and RM10.18, Jaya Tiasa 14 sen to RM7.60, UMW 12 sen to RM7.24, Panasonic and Johore Tin 12 sen each to RM22.20 and RM1.33.

Naim Indah Corp was the most actively traded counter with 99.9 million shares done. The stock fell 1.5 sen to 67 sen.

Other actives included astral Supreme, Euro Holdings, YTL, Sing Heng Chan, Tiger Synergy, Hwatai and Camres.

Meanwhile, decliners in the morning session included Tahps, Sunchirin, Warisan, Scientex, BOnia, MIlux, APB and Batu Kawan.



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UOB Kay Hian Research lowers consumer sector to market weight

KUALA LUMPUR (March 13): UOB kay Hian Malaysia Research is downgrading the consumer sector to Market Weight from Overweight as valuations of consumer stocks under its coverage appear fully valued.

It said on Tuesday these stocks had rallied 8%-20% since December 2011, with the sector trading at about one standard deviation above the historical average.

“We also do not anticipate any exciting corporate developments in the near term. (Recall in 2011, KFC Holdings (KFC) was proposed to be privatised, and Guinness Anchor (GAB) paid out a special dividend),” it said.

UOB Kay Hian Research said the present market climate remained supportive, pointing out that valuations were “not too hot” and earnings growth was moderating but not turning cold.

“The sector remains defensive as the anticipated strong consumption growth in 2012 plus good pricing power (which offsets some increases in raw material cost) ensure decent dividend yield of 2%-5%,” it said.

The research house said the consumer sector continues to be a beneficiary of fiscal stimulus, announced hefty 7%-13% pay hikes for civil servants for 2012, general election and special events (UEFA Euro Cup 2012 which will boost brewery consumption).

On its move to reduce the sector to Market Weight, it said this was to reflect fair valuations and moderate earnings growth prospects.

"Our stand also reflects our Sell call on KFCH as its price upside is limited by the takeover offer price (RM4) by Massive Equity Sdn Bhd while the completion of the privatisation exercise appears being delayed with the master franchisor, Yums! reportedly being reluctant to approve the deal.

“Among the segments, we still prefer brewery which should benefit from the imminent modest 3%-4% price hikes, low capex requirements and healthy volume growth (estimated 5% in 2012),” it said.

UOB Kay Hian Research said its preferred pick was Guinness Anchor (Hold, target: RM12.80), which continued to appeal for its steady market share gain, decent net effective yield of 4.7%, and likely distribution of a second tranche of special dividend (estimated 60 sen a share) which would most probably take place in FY13.

It raised its target price to RM12.80 from RM12.50 to account for the higher beer prices.



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KLCI stays in the black at mid-day

KUALA LUMPUR (March 13): The FBM KLCI stayed in positive territory at the mid-day break on Tuesday, in line with the modest gains at key regional markets.

The FBM KLCI was up 2.24 points to 1,566.99 at the mid-day break. However, the broader market turned weaker with losers overtaking gainers by 355 to 241, while 246 counters traded unchanged. Volume was 484.42 million shares valued at RM528.11 million.

The ringgit strengthened 0.28% to 3.0233 versus the US dollar; crude palm oil futures for the third month delivery rose RM28 to RM3,348 per tonne, US light crude oil added 59 cents per barrel to US$106.93, while gold gained US$2.18 an ounce to US$1,703.50.

Meanwhile, Asian stocks rose to their highest in a week, while the dollar hovered below an 11-month high against the yen on Tuesday, supported by recent signs of improvement in the U.S. economy, ahead of a policy decision by the Federal Reserve, according to Reuters.

Bank of Japan's policy meeting, which began on Monday, will also remain in focus. The bank is expected to hold rates as the economic outlook and risks have not changed much since its last meeting nearly a month ago, it said.

A the regional markets, Japan’s Nikkei 225 gained 0.40% to 9,889.86, Hong Kong’s Hang Seng Index added 0.23% to 21,134.10 and the Singapore Straits Times Indx0.11% to 2,966.55.

However, the Shanghai Composite Index shed 0.19% to 2,434.86, Taiwan’s Taiex fell 1.10% to 7,927.55 and South Korea’s Kospi was down 0.78% To 2,002.50.

BIMB Securities Research in a note on Tuesday said investors would remain sidelined attributed to the lack of fresh catalysts especially after the 14 point decline on the KLCI on Monday.

Now that a Greece tragedy has been averted, attention will now be fixed on the fundamentals and economic progress of both the US and Eurozone, it said.

Following the rather sharp 14 point decline to just below the 1,565 support level on Monday, BIMB Research said it had expected some reversal on Tuesday and that the KLCI might test the immediate 1,570.

On Bursa Malayasia, BAT was the top gainer and rose 80 sen to RM52.80, TAHP 20 sen to RM5, Tradewinds PLANTATION []s 16 sen to RM4.71, Manulife, Sin Heng Chan and Petronas Chemicals rose 13 sen each to RM3.52, RM93.5 sen and RM6.69 respectively, GAB eight sen to RM13.38 and TSH seven to RM2.26.

Naim Indah Corp was the most active with 68.9 million shares done. The stock fell half a sen to 72 sen.

Other actives included Winsun, YTL, Takaso, Tiger Synergy, XDL, Sanichi, Sumatec and HWGB.

Decliners included Nestle, Theta warrants, Allianz warrants, United Plantations, MISC, Shell, Orient, BLD Plantations, Tradewinds and Southern Steel.



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KLCI drifts higher at mid-morning

KUALA LUMPUR (March 13): The FBM KLCI drifted slightly higher, lifted by select blue chips at mid-morning on Tuesday in line with the limited gains at key regional markets.

Meanwhile, at the regional markets most market players were on the sidelines awaiting the outcome of a Federal Open Market Committee meeting later in the day, according to Reuters.

The FBM KLCI added 2.47 points to 1,567.22 at 10.05am. Gainers led losers by 198 to 187, while 276 counters traded unchanged. Volume was 252.62 million shares valued at RM166.43 million.

At the regional markets, Japan’s Nikkei 225 rose 1.14% to 10,002.90, Hong KONG’s Hang Seng Index added 0.77% To 21,297.40, the Shanghai Composite Index edged up 0.05% to 2,436.08, Taiwan’s Taiex gained 0.82% to 7,992.51, South Korea’s Kospi was up 1.15% to 2,025.52 and Singapore’s Straits Times Index added 0.52% to 2,977.65.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients said the resistance areas of the KLCI at 1,564 and 1,583 would cap market gains, whilst the weaker support areas were at 1,540 and 1,559.

“Despite the US markets’ rebound last night, we could be in for a weaker day locally,” he said. The KLCI fell 14.25 points to close at 1,564.75 on Monday.

On Bursa Malaysia, BAT was the top gainer, up 40 sen to RM52.40, Ekovest added 15 sen to RM2.75, Sin Heng Chan gained 13.5 sen to 94 sen, LPI Capital 10 sen to RM13.66 and Tradewinds PLANTATION []s nine sen to RM4,64.

Petronas Chemicals and GAB up eight sen each to RM6.64 and RM13.38, Vintage 7.5 sen to 13 sen, Axiata six sen to RM5.10 while Hoover added five sen to 36 sen.

Naim Indah Corp was the most active with 52.94 million shares done. The stock fell half a sen to 72 sen.

Other actives included Winsun, Takason, Tiger Synergy, XDL, Sanichi and Sumatec.

Decliners included Theta warrants, Allianz warrants, UAC, MISC, Carlsberg, tradewinds, Johore Tin, BLD Plantations, AMMB and Hong Leong Bank.



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KLCI falls in early trade, Genting weighs

KUALA LUMPUR (March 7): The FBM KLCI fell in early trade on Wednesday, weighed by losses at blue chips, in line with the overnight fall at Wall Street and European markets, as well as on weaker trade sentiment at major regional bourses.

Asian stocks retreated on concerns over Greek debt default resurfaced uncertainty on China and Europe's economic outlook weighed on global shares, according to Reuters.

The FBM KLCI fell 13.38 points to1,576.53 at 9.05am. Losers led gainers by 2558 to 35, while 122 counters traded unchanged.

At Bursa Malaysia, HLFG fell 38 sen to RM12.12, KLK down 26 sen to RM23.02, Genting 18 sen to RM10.74, Panasonic and GAB 14 sen each to RM22 and RM13.62, IJM PLANTATION []s 12 sen to RM3.21 while Hong Leong Bank and Carslberg lost 10 sen each to RM12.30 and RM10.30.



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KLCI nears all-time high, Sime, CIMB lead

KUALA LUMPUR (March 5): The KLCI got off on a firm start on Monday, with the 30-stock index nearing the all-time high of 1,594 reached in July 2011.

The advance in the KLCI was driven by heavyweights Sime Darby and CIMB, as they extended their gains from last week on buying by fund managers following more upside for both companies.

At 10.49am, the KLCI was up 8.87 points to 1,592.65. Turnover was 496.51 million shares valued at RM444.84 million. There were 363 gainers, 209 losers and 268 stocks unchanged.

Maybank Investment Bank Research said it was lifting 2012 year-end KLCI target to 1,565 on raised market earnings post 4Q11 corporate results reporting and after imputing a higher crude palm oil average selling prices expectation.

“While corporate earnings outlook seems to have stabilised and a crisis appears to have been averted in the Eurozone, rising crude oil prices is a new concern, while on the domestic front, the 13th general election will lend to cautiousness,” it said.

Aeon was the top gainer, up 38 sen to RM9.38 while Tasek added 30 sen to RM9.11 and Oriental Holdings 25 sen to RM6.47. Other gainers were Can-One, up 20 sen to RM1.99, Panasonic 16 sen to RM22.16 and GAB 14 sen to RM13.64.

Sime Darby rose 16 sen to RM10.14 and CIMB 15 sen to RM7.48.

JP Morgan Research said Sime Darby remained its top large-cap Asean PLANTATION []s pick. It said Sime's 2QFY12 core net profit of RM1.032 billion (up 18% on-year) came in 12% ahead of consensus expectations of RM922 million.

Last Thursday, CIMB had signed an MoU for the proposed acquisition of cash equities, equity capital markets and corporate finance businesses of The Royal Bank of Scotland in Asia Pacific.



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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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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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High oil prices rein in equities markets

KUALA LUMPUR: High oil prices reined in the regional markets and curb investors’ appetite for equities on concerns of the adverse impact on weaker economies, particularly in Europe.

Another nagging concern was whether Germany's parliament would support the Greek bailout.

At the close, the FBM KLCI managed to eke out a 0.27of a point gain to 1,559.04. Turnover was 1.64 billion shares valued at RM1.63 billion. Losers beat gainers 327 to 455, while 341 counters traded unchanged.

Japan's Nikkei 225 fell 0.14% to 9,633.93, Singapore's Straits Index 1.05% lower at 2,946.78, South Korea's Kospi 1.42% to 1,991.16 and Hong Kong's Hang Seng Index 0.88% to 21,217.86.

However, Shanghai’s Composite Index managed to close up 0.30% to 2,447.06 and Taiwan's Taiex 0.28% to 7,959.34.

Reuters reported Brent crude slipped below US$125 on Monday, flagging after five days of gains pushed oil to 10-month highs on worries tension over Iran's disputed nuclear programme could lead to a disruption in Middle East supplies.

Brent has risen 16% this year, after a 13.3 percent gain in 2011, helping weaken recent strong correlations with stock markets.

Meanwhile, the world's 20 leading economies, the G20, piled pressure on Germany at the weekend to drop its opposition to a bigger European bailout fund, telling Europe it must put up extra money if it wanted more help from other countries.

At Bursa Malaysia, penny stocks were among the most active. Naim Indah Corp added one sen to 52.5 sen while Envair also inched up one sen to 30.5 sen.

Harvest Court rose 18 sen to RM1.23 and the warrants 15 sen to 98 sen as speculative interest return to the stock.

Consumer stocks were top gainers, with Dutch Lady up RM1.70 to RM27.5, Carlsberg 25 sen to RM9.70, Panasonic Malaysia and Guinness Anchor, both up by 20 sen to RM21.20 and RM12.94 respectively.

Among the losers were Hong Leong Industries, down 22 sen to RM3.99, Malpac fell 20 sen to RM1.50. Latexx-WA fell 14 sen to RM1.14 and Latexx 13 sen to RM1.55.

However, consumer heavyweight Nestle fell 28 sen to RM54.92,

CIMB Equities Research said earlier on Monday it was maintaining its Underperform call on Nestle at RM55.20 with a target price of RM48.30.

“While we like Nestle’s defensive earnings and huge consumer base, its 27 times FY12 P/E is pricey. We reiterate our Underperform call (DCF-based target price), with the main potential derating catalyst being volatile commodity prices,” it said.



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