Blue chips extend gains, CIMB, Sime lead again

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

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

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

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

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

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

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

China Stationery Ltd lost 10 sen to RM1.08.

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



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KL shares remain in red at mid-afternoon

Share prices on Bursa Malaysia were lower at mid-afternoon today, weighed down by losses in finance and plantation counters due to lack of buying interest, dealers said.

At 3.01pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.5 points to 1.559.02, after opening 1.39 points lower at 1,559.13, in line with bearish tone in regional bourses.

The Finance Index lost 35.931 points to 13,914.06, the Industrial Index eased 20.69 points to 2,871.35 and the Plantation Index fell 58.84 points to 8,607.36.

The FBM Ace Index declined 63.37 points to 4,741.87 ,the FBM Emas Index declined 17.479 points to 10,802.16 and the FBM70 Index fell 14.29 points to 12,250.31.

Losers outnumbered gainers by 574 to 208 with turnover at 1.113 billion units valued at RM1.018 billion.

Among actives, IFCA MSC lost 2.5 sen to 12 sen, Naim Indah lost two sen to 43.5 sen, Green Ocean added one sen to 31 sen and Tiger Synergy was unchanged at 14 sen.

Of the heavyweights, Maybank declined one sen to RM8.70, Petronas Chemicals and Sime Darby was unchanged at RM9.64 and RM6.95, respectively, while CIMB fell five sen to RM7.19. -- BERNAMA



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KL shares in red at mid-day

Losses in selective bluechips and finance counters like Sime Darby, Genting, Maybank, Hong Leong Bank and CIMB pulled the FBM KLCI to negative territory at midday today.

At 12.30pm, the benchmark index declined 1.08 points to 1,559.44 after opening 1.39 points lower at 1,559.13 in line with weaker movements in other regional markets.

Dealers said investors remained on the sidelines following the overnight weak performance on the US market as weak data on European business activity and China's manufacturing sector prompted fears on global economic prospects.

Hong Leong Investment Bank said overall, the rebound from Feb 16's low of 1,549 points continued to be weak as the broader market turned more cautious and trading volume shrank, suggesting that the rally was running out of steam.

"The KLCI is still below our envisaged resistance channels of 1,570-1,580 points with the support level falls to 1,554 points," it said in a statement.

The Finance Index declined 42.99 points to 13,907.0, the Industrial Index slipped 18.06 points to 2,873.98 and the Plantation Index dropped 60.84 points to 8,605.36.

The FBM Emas Index eased 9.279 points to 10,809.91, the FBM ACE Index slipped 42.0 points to 4,763.24 and the FBM Mid 70 Index inched down 3.09 to 12,261.51.

Losers led gainers 515 to 206 on Bursa Malaysia while turnover amounted to 937.154 million shares worth RM811.777 million. Among active counters, IFCA MSC fell 2.5 sen to 12 sen, Naim Indah lost two sen to 43.5 sen, Green Ocean rose 2.5 sen to 32.5 sen and SAAG Consolidated was up half a sen to 7.5 sen.

Maybank fell one sen to RM8.70, Sime Darby was unchanged at RM9.64, Petronas Chemicals rose one sen to RM6.96 while CIMB lost seven sen to RM7.17. -- Bernama



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KLCI closes marginally lower

KUALA LUMPUR (Feb 22): The FBM KLCI closed marginally lower, dragged down by PLANTATION [] stocks and doubts on Greece's ability to undertake austerity measures.

The FBM KLCI on Wednesday closed 3.26 points lower, or 0.21%, to close at 1.560.52, weighed down by plantation-related stocks — such as IOI Group (down 10 sen to RM5.34), PPB GROUP BHD [] (down 50 sen to RM17.14) and KLK (down 36 sen to RM23.64) — which brought the index down by 3.06 points.

A total of 2.32 billion shares were traded, valued at RM1.94 billion. Losers led gainers 541 to 302, while 298 counters traded unchanged.

Regionally, markets closed on a positive note, made upbeat by China's Production Manufacturing Index (PMI) numbers, which rose to 49.7 in February from 48.8 in January — the highest in four months.

Taiwan's Taiex was up 1.01% to 8,001.68, Japan's Nikkei 225 rose 0.96% to 9,554.00, Shanghai's Composite Index up 0.93% to 2,403.59, Hong Kong's Hang Seng Index rose 0.33% to 21,549.28, and South Korea's Kospi increased marginally by 0.22% to 2,028.65. However, Singapore's Straits Index fell 0.97% to 2,995.59.

On Bursa Malaysia, top gainers included DUTCH LADY MILK INDUSTRIES BHD [] (up 40 sen to RM25.80), TAHPS GROUP BHD [] (up 39 sen to RM4.80), and CHIN TECK PLANTATIONS BHD [] (up 34 sen to RM9).

Among top losers were HARRISONS HOLDINGS (M) BHD [] (down 53 sen to RM3.17), after it received a letter of demand from Kastam DiRaja Malaysia for unpaid excise, import and sales tax amounting RM91.75 million.

PPB Group Bhd also continued its losing streak after Wilmar International Ltd — the world's largest palm oil firm — released its 4Q11 results, which missed analyst estimates. The stock was down 50 sen to RM17.14.

Most actively traded on Wednesday included The Media Shoppe (down half a sen to 11 sen, with 221.5 million shares traded), Green Ocean Corporation Bhd (down 2.5 sen to 30 sen), and IFCA MSC BHD [] (up one sen to 14.5 sen).



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Late buying pushes KLCI firmly into positive zone

KUALA LUMPUR: Late buying on index-linked stocks pushed the FBM KLCI firmly into the positive zone on Monday while the broader market saw some profit taking activities on recent gainers, which was in line with some key regional markets.

The surprise stimulus move in China and signs Greece would secure a long-awaited bailout deal helped underpin sentiment for blue chips.

At 5pm, the FBM KLCI was up 3.42 points or 0.22% to close at 1,560.57, nudged up gains in by Maybank and BAT. Volume was 1.86 billion shares traded valued at RM1.61 billion. Losers led gainers 469 to 349, while 339 counters remained unchanged.

Japan's Nikkei 225 was up 1.08% to 9,485.09, Taiwan's Taeix rose 0.77% to 7,954.82, Singapore's Straits Index 0.69% to 3,021.19, Shanghai's Composite Index 0.27% to 2,363.60 and South Korea's Kospi up marginally 0.07% to 2,024.90. Only Hong Kong's Hang Seng Index was in the red, down 0.31% to 21,424.79.

At Bursa Malaysia, the KLCI was supported by gains in Maybank, which rose five sen to RM8.61 and managed to nudge the 30-stock KLCI up 0.89 of a point. BAT added RM1.38 to RM53.90, adding 0.62 of a point to the index.

Other gainers were Nestle, up 90 sen to RM56.00, Oriental Holdings 30 sen to RM5.65, Aeon 29 sen to RM7.99 and Panasonic Malaysia 22 sen to RM20.42.

Among the lower liners, Cyberpark rose 19 sen to RM2.07 on the positive outlook for its integrated renewable energy plant in Negeri Sembilan to be launched next month.

Cybertowers added 18.5 sen to 76 sen. Before market close, Bursa Malaysia Securities had queried Cybertowers over the unusual market activity in the trading of the company’s shares.

Green Ocean, which closed up 2.5 sen to 25 sen with 58.8 million shares traded, was earlier queried by Bursa Securities for its sharp rise in price and volume.

Among top losers were TAHPS down 20 sen to RM4.50, Ewein 18.5 sen to 80.5 sen while BLD PLANTATION []s and Tasek fell 17 sen each to RM9.83 and RM8.30 respectively.



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Green Ocean queried over price surge

Bursa Malaysia Securities Bhd today queried Green Ocean Corp Bhd over the sharp increase in its share price and high turnover of shares transacted recently.

In a statement today, Bursa Securities said an unusual market activity (UMA) query was posted on Bursa Malaysia's website and advised investors to take note of the company's reply to the query when making investment decisions," it added.

At 12.30pm, the company's share price stood at 25.5 sen, up three sen. -- Bernama



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Bursa Securities queries Green Ocean over share price, volume

KUALA LUMPUR (Feb 20): Bursa Malaysia Securities has queried Green Ocean Corporation Bhd over the sharp rise in price and high volume of the shares recently.

It had on Monday requested the company to announce the reasons for the unusual market activity after enquiring with the directors and major shareholders seeking the cause of the unusual market activity.

At 12.05pm, it was up three sen to 25.5 sen with 50.10 million shares done.

The FBM KLCI rose 4.08 points to 1,561.23. Turnover was 921.21 million shares done vaued at RM602.93 million. There were 380 gainers, 302 losers and 328 stocks unchanged.



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OSK Research sees upside target for Green Ocean at 24.5 sen

KUALA LUMPUR (Feb 15): OSK Research said the trading volume on Green Ocean Corporation Bhd rebounded on Tuesday after the stock’s consolidation of Feb 8’s sharp gains.

It said on Wednesday that Tuesday’s strong volume indicates the stock’s desire to maintain a posture at above Feb 8’s opening point.

“As it is uncommon for such strong gains to fully evaporate, traders may consider accumulating Green Ocean shares while the stock is still in consolidation mode.

“We are eyeing the 24.5 sen level as the first upside target while our cut-loss is pegged at below the 16 sen level,” it said.



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