KLCI falls as eurozone woes grip global markets

KUALA LUMPUR (May 9): The FBM KLCI fell on Wednesday as concerns over the economic and political direction of several eurozone countries kept regional and global investors on tenterhooks.

The FBM KLCI lost 5.70 points to close at 1,584.90, weighed down by losses at blue chips.

Losers outpaced gainers by 450 to 273, while 313 counters traded unchanged. Volume was 1.28 billion shares valued at RM1.42 billion.

Asian bourses were mired in the red as Greece struggled to form a government two days after an election, heightening the risk that a hard-won bailout deal could be scrapped, according to Reuters.

Meanwhile, European shares edged lower on Wednesday as a technical rebound from four-month lows was offset by falls among Spanish banks, which were dragged by fears they would be forced to raise money to cover their property assets, said Reuters.

Technical momentum was supportive after key indexes in the US and Europe closed above support levels on Tuesday, sending a bullish short-term signal despite still-depressed market sentiment as a political impasse in Greece threatened to deepen the eurozone crisis, it said.

At the regional markets, the Shanghai Composite Index lost 1.65% to 2,408.59, Japan's Nikkei 225 lost 1.49% to 9,045.06, Taiwan’s Taiex fell 0.93% to 7,475.71, South Korea’s Kospi lost 0.85% to 1,950.29, Hong Kong’s Hang Seng Index shed 0.75% to 20,330.64 and Singapore’s Straits Times Index fell 1.06% to 2,900.91.

On Bursa Malaysia, BAT fell 64 sen to RM55.04, Petronas Dagangan and HLFG lost 24 sen each to RM19.70 and RM11.94, MISC 13 sen to RM4.46, PPB, MMHE and Aeon 12 sen each to RM16.60, RM4.88 and RM9.75 respectively, MSM 11 sen to RM5.20, IJM Corp 10 sen to RM5.44 and BLD PLANTATION []s fell nine sen to RM8.81.

Naim Indah Corp was the most actively traded counter with 80.2 million shares done. The stock was unchanged at 49 sen.

Other actives included Ingenuity Solutions, Metronic, Permaju, Harvest Court, Focus, Ariantec, Astral Supreme and CBSA.

Gainers included Tahps, GCE, GAB, Panasonic, Nadayu, YHS, KGB, Ajinomoto, Tasek and Sunway.



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Local uncertainties keep investors at bay

KUALA LUMPUR (APRIL 26): The FBM KLCI was unable to sustain its earlier gains and slipped at the mid-day break on Thursday as while most regional markets improved on US data and policy, local investors remained edgy ahead of this weekend’s planned Bersih 3.0 protests.

The FBM KLCI shed 0.69 of a point to 1,578.66 at 12.30pm, weighed by losses including at BAT, PPB, Petronas Dagangan and Hong Leong Bank.

Losers led gainers by 375 to 198, while 312 counters traded unchanged. Volume was 839.42 million shares valued at RM563.21 million.

Te ringgit strengthened 0.13% to 3.0560 versus the greenback, crude palm oil futures for the third month delivery fell RM32 per tonne to RM3,479, crude oil slipped six cents per barrel to US$104.06 while gold rose US$3.48 an ounce to US$1,647.10.

Meanwhile, Asian shares mostly rose on Thursday, retaining positive momentum as the Federal Reserve reassured markets that it will keep its very accommodative stance to support growth, while optimism grew over strong quarterly corporate earnings, according to Reuters.

Along with the Fed's assurance that its very easy monetary policy will be kept in place as long as needed, U.S. stocks rallied on Wednesday after Apple Inc reported quarterly profits nearly doubled, it said.

At the regional markets, Hong kong’s Hang Seng Index gained 0.51% to 20,752.20 and South Korea’s Kospi was up 0.19% to 1,965.61.

However, Japan’s Nikkei 225 shed 0.06% to 9,554.94, the Shanghai Composite Index lost 0.21% to 2,401.83, Taiwan’s Taiex fell 0.50% to 7,525.33 and Singapore’s Straits Times Index was down 0.17% to 2,974.74.

On Bursa Malaysia, BAT fell 82 sen to RM54.30, PPB down 14 sen to RM16.66, Petronas Dagangan and HLFG down 12 sen each to RM19.08 and RM12.08, Jaya Tiasa and Petronas Gas fell 10 sen each to RM9.48 and RM16.48, Warisan nine sen to RM2.25, while Hong Leong bank and SEGi fell eight sen each to RM12.22 and RM1.73.

Utopia was the most actively traded counter in the morning session with 134.96 million shares done. The stock was unchanged at 9.5 sen.

Other actives included Ariantec, Focus, Metronic, CSL, RGB, Naim Indah Corp and Winsun.

Gainers included Aeon, Panasonic, Aeon Credit, KrisAssets, Takaful, Tradewinds, Globetronics and Dutch Lady.



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KLCI pares down losses at mid-day break

KUALA LUMPUR (APRIL 16): The FBM KLCI pared down some of its losses at the mid-day break on Monday showing some resilience compared to its regional peers, as renewed worries about the euro zone debt crisis took a toll on investor sentiment at global markets.

The FBM KLCI fell 3.35 points to 1,599.77 at the mid-day break. The index had earlier fallen to its intra-morning low of 1,594.63.

Market breadth was weaker, with losers beating gainers by 372 to 198, while 304 counters traded unchanged. Volume was 509.4 million shares valued at RM430.95 million.

The ringgit weakened 0.55% to 3.0741 versus the greenback, crude palm oil futures for the third month delivery slipped RM10 per tonne to RM3,487, crude oil shed 76 cents per barrel to US$102.07, while gold fell US$8.75 an ounce to US$1,649.40.

Asian shares and the euro fell on Monday as a surge in Spanish government bond yields renewed concerns about the euro zone's sovereign debt crisis and undermined investor appetite for riskier assets, according to Reuters.

Spain's government bond yields jumped on Friday and the cost of insuring its debt against default hit an all-time peak as record borrowing by its banks from the European Central Bank highlighted fears about the country's finances.

At the regional markets, Japan’s Nikkei 225 fell 1.4% to 9,502.61, Hong Kong’s Hang Seng Index lost 0.69% to 20,559.00, the Shanghai Composite Index was down 0.22% to 2,353.99, Taiwan’s Taiex lost 0.77% to 7,728.06, South Korea’s Kopsi fell 0.96% to 1,989.55 and singapore’s Straits Times Index edged up 0.03% to 2,988.83.

BIMB Securities Research in a note Monday said traders were now renewing their focus on Spain’s financial position and China’s economic slowdown as the main excuses to sell down equities.

As a result, it said the Dow Jones Industrial Average fell 137 points to below the 13,000 level despite the better than expected batch of earnings from corporate USA.

The research house said European bourses wobbled across the board from Spain’s mounting debts as its 10-year treasury yield jumped to 5.98% (+0.16).

Asian equities fared better as most ended the week higher obviously before the profit takings both in the US and Europe.

“We view China’s decision to expand their trading band for its Yuan as positive showing that its economy is resilient and is able to withstand the vagaries of its currency.

“Locally, the FBM KLCI added a mere 1.85 points to 1,603 signaling that the market may be due for a consolidation and may be expedited from the weaknesses in both the US and Eurozone. We expect the index may severely test the 1,600 mark after which 1,595 would be the next support level,” it said.

ON Bursa Malaysia, Dutch Lady was the top loser and fell 30 sen to RM35.28, Amway and BAT lost 18 sen each to RM9.80 and RM54.62, HLFG doen 10 sen to RM12.34, while, Sungei Bagan, CCK, Shell, Hong Leong bank and Petronas Dagangan fell eight sen each to RM2.90, 91 sen, RM10.20, RM12.48 and RM18.72 respectively.

Ingenuity Solutions was the most actively traded counter with 51.59 million shares done. The stock was down half a sen to 9.5 sen.

Other actives included Naim Indah Corp, AWC, Ariantec, CSL, Sinotop, Hibiscus and Metronic.

Gainers included Jaya Tiasa, Tasek, Ta Ann, Subur Tiasa, BLD PLANTATION []s, Hong Leong Industries and Tradewinds Plantations.



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Global economic concerns weigh on KLCI

KUALA LUMPUR (April 16) : Malaysian stocks fell on Monday morning in tandem with regional peers following a weaker close across US markets last Friday. Global equities were hit by fresh concerns on the European debt crisis besides news that China’s first quarter economic growth came in below street forecast.

Analysts foresee a correction in the FBM KLCI this week against a backdrop of weak technical indicators and still-volatile global landscape.

“Moreover, weaker-than-expected economic numbers from the US due to weak jobs growth in March, drop in consumer confidence and more than forecast jobless claims does not augur well for growth in the world's largest economy, hence, increasing correction potential.

“Additional worries in Asia after China's economy expanded by 8.1% in the first quarter, the slowest pace since 2009, could exert further downward pressure for the local market this week,” TA Securities Holdings Bhd wrote in note.

At 10am, the FBM KLCI fell 4.89 points to 1,598.23. Across the exchange, some 184 million shares worth RM109 million were traded, leading to 163 gainers versus 237 decliners.

Among top gainers JAYA TIASA HOLDINGS BHD [] added 60 sen to RM9.68 while TA ANN HOLDINGS BHD [] was up 13 sen to RM6.69.

Decliners HONG LEONG FINANCIAL GROUP BHD [] fell 20 sen to RM12.24 while DUTCH LADY MILK INDUSTRIES BHD [] was down 18 sen to RM 35.40

Most active was INGENUITY SOLUTIONS BHD [] which traded unchanged at 10 sen with some 23 million shares done.

Among Asian bourses, Japan’s Nikkei 225 fell 1.44% to 9,499.33 points while Australia’s S&P/ ASX 200 declined 0.61% to 4,296.9. South Korea’s Kospi was down 1.14% to 1,985.98.



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KLCI down in early trade, slips below 1,590-level

KUALA LUMPUR (April 10): Shares on Bursa Malaysia fell in early trade on Tuesday with most investors staying on the side-lines given the weaker regional sentiment and a holiday-shortened trading week in Malaysia.

The FBM KLCI fell 2.84 points to 1,588.44 at 9.03am, weighed by losses at select blue chips.

Losers edged gainers by 59 to 47, while 100 counters traded unchanged. Volume was 27.05 million shares valued at RM13.07 million.

Wednesday is a public holiday in Malaysia in conjunction with the installation ceremony of the Yang DiPertuan Agong.

Meanwhile, Global stocks and crude oil fell on Monday as investors reacted to the surprisingly sharp slowdown in U.S. jobs growth reported last week, which raised concerns about the strength of the world's largest economy, according to Reuters.

Stocks on Wall Street and crude oil futures prices slid about 1% on the first trading day after the U.S. Labor Department reported the March jobs data. U.S. equity markets were closed on Friday for the Good Friday holiday, it said.

Among the aly decliners on Bursa Malaysia were Genting PLANTATION []s, Petronas Gas, Lafarge Malayan Cement, HLFG, Hong Leong Bank, Astino, Petronas Dagangan, Public Bank and Parkson.



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KLCI snaps losing streak, but stays shy of 1,600-level at mid-day

KUALA LUMPUR (APRIL 6): The FBM KLCI snapped its two-day losing streak on Friday and rose at the mid-day break, while key regional markets were mostly closed for the Easter weekend holidays.

The FBM KLCI rose 6.29 points to 1,599.73 at the mid-day break.

Gainers led losers by 319 to 233, while 306 counters traded unchanged. Volume was 595.27 million shares valued at RM502.46 million.

The ringgit strengthened .07% t0 3.0625 versus the US dollar; crude palm oil futures for the third month delivery rsoe RM14 per tonne to RM3,546, crude oil was US$103.31 per a barrel (as of April 4 closing) whiel gold fell US$1.18 an ounce to US$1,630.05.

Asian shares struggled on Friday, with many markets closed for the Easter holiday, as investors stayed on the sidelines ahead of key U.S. jobs data, avoiding risk after rising yields in weaker euro zone countries refuelled concerns about the region's debt issues, according to Reuters.

Worries about Spain's rising bond yields were offset somewhat by fresh U.S. data on Thursday that provided more evidence of a recovering labour market, raising prospects of the non-farm payrolls report due later on Friday being solid, it said.

At the regional markets, Japan’s Nikkei 225 fell 1.05% to 9,665.28, Taiwan’s taiex added 0.60% to 7,685.52 and South Korea’s Kospi shed 0.25% to 2,023.75.

BIMB Securities Research in a note April 6 said that European stocks climbed in the final hour of trading on Thursday, after new on US initial jobless claims fell to their lowest levels in four years last week.

Meanwhile Spain’s 10-year bonds dropped for a third day, pushing the yield on the country’s benchmark debt seven basis points higher to 5.76%, it said.

The research house Wall Street ended largely unchanged in a lackluster session as investors hesitated to jump in amid ongoing worries over the euro zone and ahead of Friday's monthly jobs report.

Nonetheless, for the week, all three major averages recorded their worst decline this year, it said.

The Dow Jones Industrial Average slipped 0.11 percent, to close at 13,060.14, declining for a third-straight session while S&P 500 erased or 0.06 percent, to finish at 1,398.08, it said.

BIMB Research said that regionally, most major indices closed lower yesterday, due to weak Spanish bond sale which weaken investors’ confidence.

“In the local front, the FBM KLCI is well supported at 1,590 levels despite poor regional performance, losing 0.36% to close at 1,593.44. Net foreign participation remains positive yesterday at RM66.2m.

“Technical point of view, the near term outlook remains sluggish with immediate support to be seen at 1,590 followed by 1,580,” it said.

ON Bursa Malaysia, BAT the top gainer in the morning session and rose 68 sen to RM55.66, Dutch Lady added 50 sen to RM36, Tradewinds PLANTATION []s rose 31 sen to RM5.50, SMPC up 28 sen to RM2.25, Tradewinds 23 sen to RM10.02, Naim Holdings 14 sen to RM2.04, Mulpha 13 sen to 59 sen, Hing Yap 12 sen to RM1.68, MBM Resources 11 sen to RM4.91 and HLFG added 10 sen to RM12.48.

Naim Indah Corp was the most actively traded counter with 58.3 million shares done. The stock rose 2.5 sen to 51 sen.

Other actives included Metronic, Tiger Synergy, CSL, Green Ocean, Focus, TMS, Ariantec, Systech and DBE Gurney.

Decliners included Shell, F&N, Petrol One, KLK, HDBS, SapureCrest, Batu Kawan, Subur, Perduren and MGRC.



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KLCI sustains momentum, closes at fresh all-time high

KUALA LUMPUR (APRIL 3): The FBM KLCI maintained its momentum and closed at a fresh all-time high above the psychologically-crucial 1,600-point level on Tuesday, in line with the generally positive sentiment at most global markets.

Asian shares on Tuesday sustained momentum from an overnight rally in global equities, with solid manufacturing data from the United States offsetting signs of mild recession in Europe, according to Reuters.

However, European shares and Brent crude oil prices dipped in early trade on Tuesday following recent sharp gains, as investors sought further signs of improvement in the global economy before chasing risky assets higher, it said.

The FBM KLCI closed 2.85 points to 1,606.63, lifted by gains at select blue chips including CIMB, Axiata, and BAT.

Gainers, however, trailed losers by 354 to 379, while 344 counters traded unchanged. Volume was 1.25 billion shares valued at RM1.36 billion.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.31% to 20,790.98, the Shanghai Composite index added 0.47% to 2,262.79, South Korea’s Kospi gained 0.99% to 2,049.28, and Singapore’s Straits Times Index edged up 0.04% to 3,014.98 while Taiwan’s Taiex fell 1.3% to 7,760.85 and Japan’s Nikkei 225 lost 0.59% to 10,050.39.

On Bursa Malaysia, Dutch lady was the top gainer and rose 44 sen to RM35.94, Carlsberg added 34 sen to RM10.80, Jaya Tiasa 20 sen to RM8.72, HLFG 18 sen to RM12.50, BAT 16 sen to RM56.22, Sarawak PLANTATION []s 15 sen to RM3.24, MBM Resources 14 sen to RM4.77, APFT 12 sen to 79 sen, Voir 11.5 sen to 64.5 sen, Hightec 11 sen to 87 sen, Axiata nine sen to RM5.28 and CIMB two sen to RM7.81.

Metronic was the most actively traded counter with 134.23 million shares done. The stock fell 2.5 sen to 16 sen.

Other actives included Ingenuity Solutions, Ariantec, SuperComnet, Naim Indah Corp, Carotech, Utopia, Axiata and CIMB.

Meanwhile, decliners included Genting Plantations, SMPC, PPB, Warisan, Cepco, Can-One, Petronas Dagangan, Takaful and United Plantations.



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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 higher, but stays shy of 1,590-level

KUALA LUMPUR (March 27): the FBM KLCI recovered some lost ground and closed higher on Tuesday, in line with the overall improved sentiment at key regional markets.

However, the index stayed shy of breaching the 1,590-level for long.

The FBM KLCI was up 5.12 points to close at 15,88.10, lifted by gains at select blue chips. The index had earlier risen to its intra-day high of ,591.03.

Gainers led losers by 389 to 381, while 337 counters traded unchanged. Volume was 1.94 billion shares valued at RM1.66 billion.

Asian stocks rebounded, with Japan's Nikkei hitting a one-year high, and the dollar struggled on Tuesday after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment, according to Reuters

Europe's major equity markets were also poised for gains, with Euro STOXX 50 index futures opening up 0.7 percent, while financial spreadbetters called London's FTSE to start trading 0.2-0.3 percent higher, it said.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.69% to 21,017.13, Japan’s Nikkei 225 gained 2.36% to 10,255.15, South korea’s Kospi was up 1.02% to 2,039.76, Taiwan’s Taiex rose 0.78% to 8,029.46 and Singapore’s Straits Times Index…

On Bursa Malaysia, Dutch Lady was the top gainer and rose 60 sen to RM32, F&N added 24 sen to RM18.50, Petronas Dagangan added 22 sen to RM18.70, Malayan Flour Mills 21 sen to RM4.65 and KLK 20 sen to RM24.06.

Aeon Credit, Takaful and HLFG added 18 sen each to RM8.88, RM2.90 and RM12.30 respectively, while Petronas Gas and Genting PLANTATION []s gained 16 sen each to RM16.90 and RM9.41.

Metronic was the most actively traded counter with 280.1 million shares done. The counter gained four sen to 24.5 sen.

Other actives included Ariantec, Supercomnet, Naim Indah Corp, Focus, Frontken, Oversea Enterprise and TMS.

Among the decliners, Aeon fell 25 sen to RM9.15, Bintulu Port 17 sen to RM6.83, Allianz 12 sen to RM4.70, AirAsia 11 sen to RM3.35, Top Glove 10 sen to RM4.55. P.I.E., TDM, MISC and Sunway fell nine sen each to RM4.81, RM4.77, RM5.29 and RM2.62 respectively.



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KLCI pares down gains at mid-day

KUALA LUMPUR (March 27): the FBM KLCI pared down some of its gains at the mid-day break on Tuesday while key regional markets mostly rebounded on the back of the firmer overnight close at Wall Street.

Asian stocks rebounded on Tuesday and the dollar struggled after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment even though the U.S. economy has shown signs of improvement, according to Reuters.

Wall Street stocks had risen more than 1 percent on Bernanke's comments, which supported views that easy monetary policy would remain in place for some time and fanned expectations for more asset purchases by the U.S. central bank, it said.

The FBM KLCI was up 5.20 points to 1,588.18 at the mid-day break, lifted by gains at select blue chips. The index had earlier risen to its intra-morning high of 1,591.03.

Losers edged gainers by 334 to 311, while 333 counters traded unchanged. Volume was 1.09 billion shares valued at RM726.26 million.

The ringgit strengthened 0.33% to 3.0697 versus the US dollar; crude palm oil futures for the third month delivery rose RM3 per tonne to RM3,462, crude oil fell 28 cents par e barrel to US$106.75 and gold lost US$3.15 an ounce to US$1,686.93.

At the regional markets, Japan’s Nikkei 225 rose 1.56% to 10,174.10, Hong Kong’s Hang Seng Index gained 1.37% to 20,951.20, the Shanghai Composite Index edged up 0.20% to 2,355.29, Taiwan’s Taiex was up 0.42% to 8,001.40, South Korea’s Kospi rose 0.60% to 2,031.27 and Singapore’s Straits Times Index added 0.85% to 2,999.72.

On Bursa Malaysia, Dutch Lady rose 60 sen to RM32, F&N was up 28 sen to RM18.54, Petronas Dagangan gained 24 sen to RM18.72, HLFG 18 sen to RM12.30, Genting PLANTATION []s 16 sen to RM9.41, MPI 15 sen to RM3.28, Petronas Gas and KLK up 14 sen each to RM16.88 and RM24, Amway 11 sen to RM9.81 and Ekovest 10 sen to RM2.70.

Metronic was the most actively traded counter with 152.12 million shares done. The stock rose 2.5 sen to 23 sen.

Other actives included Ariantec, Supercomnet, Frontken, Oversea Enterprise, Focus, TMS, Edusopec and Flonic.

Decliners this morning included Nestle, Supercomnet, SMPC, NISC, Top Glove, Favelle Favco, Allianz, AirAsia and Kossan.



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KLCI marginally in the black, regional markets struggle

KUALA LUMPUR (March 26): The FBM KLCI managed to remain in positive territory at mid-day on Monday, while its regional peers struggled to sustain gains and were traded mixed.

At the mid-day break, the FBM KLCI edged up 0.91 of a point to 1,586.74. Gainers trailed losers by 210 to 425, while 299 counters were unchanged. Volume was 731.25 million shares valued at RM515.39 million.

The ringgit strengthened 0.08% to 3.0730 versus the US dollar; crude palm oil futures for the third month delivery rose RM28 per tonne to RM3,455, crude oil fell 27 cents per barrel to US$106.60 while gold shed 35 cents an ounce to US$1,661.55.

Meanwhile, Asian shares struggled on Monday, with materials and TECHNOLOGY [] stocks losing ground amid concerns about the impact on profits of a slowdown in the global economy, according to Reuters.

Commodity-linked currencies such as the Australian dollar steadied after a hammering last week on worries of easing demand for resources from China, while the euro held near a three-week high, it said.

At the regional markets, Japan’s Nikkei 225 was up 0.25% to 10,036.60, Hong Kong’s Hang Seng Index edged up 0.02% to 20,673.40, the Shanghai Composite Index gained 0.10% to 2,351.87 while South Korea’s Kospi fell 0.52% to 2,016.27, Singapore’s Straits Times Index shed 0.21% to 2,983.87 and Taiwan’s Taiex was down 1.34% to 7,968.33.

On Bursa Malaysia, Dutch lady was the top gainer and rose 32 sen to RM31.30.

Supercomnet, which rose 18.5 sen to 48.5 sen with 226.6 million shares done, was earlier queried by Bursa Malaysia Securities Bhd over the sharp price rise and high volume in its shares.

Other gainers included SMPC that rose 18 sen to RM1.74, HLFG up 16 sen to RM12.16, PPB 12 sen to RM16.76, BAT 10 sen to RM53.90, MajuPerak 9.5 sen to 38 sen, Unisem nine sen to RM1.42 and Nestle eight sen to RM55.98.

Decliners included Chin Teck PLANTATION []s, Far East, Carlsberg, Aeon Credit, Manulife, Tenaga, WCT and Tradewinds.

Meanwhile, the actively traded stocks included metronic, Karambunai, Focus, Ariantec, Supercomnet, Ingenuity Solutions, Trinity and DPS.



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FBM KLCI falls in morning trade on China growth concerns

KUALA LUMPUR (March 21) : Malaysians stocks fell on Wednesday morning in tandem with Asian markets due to China’s economic growth concerns. These include costlier retail energy prices in China and an anticipated weaker demand in the world’s second largest economy for raw materials such as iron ore, the primary feed stock for steel manufacturing.

Analysts said the Malaysian equities barometer FBM KLCI is expected to consolidate in the near term and the spotlight will now be directed at companies with smaller market capitalisation.

“Stocks should extend consolidation in the near-term, with trading activity focused on ACE market, small-caps and penny stocks while blue chips maintain their range-bound trading pattern,” TA Securities Holdings Bhd wrote in a note on Wednesday.

In Malaysia, the 30-stock FBM KLCI fell 1.6 points to 1,576.02 at 9.26am with some 273 million shares worth RM81million traded. There were 109 gainers versus 148 decliners while 178 stocks were unchanged.

Top gainers across Bursa Malaysia include Petrol One Resources Bhd which added 20 sen to RM1.08 while Malaysia Airports Holdings Bhd was up eight sen to RM5.68.

Decliners include HONG LEONG FINANCIAL GROUP BHD [] which fell 12 sen to RM11.88 while Genting PLANTATION []s Bhd was down 11 sen to RM9.24.

Most active was INGENUITY SOLUTIONS BHD [] which added three sen to 14 sen with some 58 million shares done.

Asian stock benchmarks declined. Japan’s Nikkei 225 fell 0.21% to 10,120.57 points, Australia’s S&P/ASX 200 was down 0.32% to 4,261.4, while South Korea’s Kospi lost 0.42% to 2,033.5.



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MMC, Gamuda in focus after MRT projects

KUALA LUMPUR (March 20): MMC Corp and Gamuda’s securities provided some life into the otherwise lacklustre market on Tuesday as investors stayed mostly on the sidelines in line with the cautious regional markets.

The FBM KLCI closed up 4.02 points or 0.26% to 1,577.62, lifted by gains in IOI Corp and Tenaga. Turnover was 2.14 billion shares valued at RM1.76 billion. There were 314 gainers, 431 losers and 376 counters unchanged.

Hong Kong’s Hang Seng Index fell 1.08% to 20,888.20, Shanghai Composite Index lost 1.38% to 2,376.84, Taiwan’s Taiex shed 0.89% to 7,972.70 but Singapore’s Straits Times Index added 0.42% to 3,002.73.

Market sentiment was cautious as reflected in the broader market where declining stocks led advancers. While there was some fund support for key stocks, trading activity was heavy in penny stocks and lower liners.

The KLCI is one of the laggards among the key regional markets, with the index up 6.27% in US dollar terms year-to-date compared with STI’s 16.55%, Hang Seng Index’s 9.87% and Shanghai Composite’s 7.77%.

IOI Corp and Tenaga rose five sen each to RM5.29 and RM6.54, pushing up the index by 1.39 points.

MMC added 15 sen to RM2.95, pushing the index up by 0.57 of a point. Gamuda rose 12 sen to RM3.74 and Gamuda-WD 10 sen to RM1.45.

The securities of the companies saw active trade after their joint venture won the underground package for the Sungai Buloh-Kajang MRT line with the bid of RM8.2 billion.

Hartalega was the top gainer, up 26 sen to RM8.19, Ta Ann 13 sen to Rm5.88, HLFG 12 sen to RM12, and Batu Kawan 10 sen to RM18.60.

Share prices of Metronic Global and its 17%-owned unit Ariantec Global slipped in active trade. Ariantec fell 3.5 sen to 10.5 sen and it was the most active with 121.23 million shares done while Metronic eased two sen to 11 sen.

Focus, which was queried over the sharp increase in the price of its securities and volume, saw its share price ending the day two sen higher at 21.5 sen. Focus-WA added four sen to eight sen and Focus-WB two sen to 14.5 sen.

Among the index-linked stocks, Petronas Chemicals fell three sen to RM6.71, Public Bank two sen to RM13.62 and RHB Cap three sen to RM8.

Aeon was the top loser, down 25 sen to RM9.13 with 20,500 shares done. Cypark lost 11 sen to RM1.87 and United PLANTATION []s 10 sen to RM25.



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Quality of buying declines on Bursa

KUALA LUMPUR (March 20): The quality of buying in the morning session on Tuesday declined, with trading interest focused on penny stocks, while the broader market showed some signs of weakness.

Investors were staying on the sidelines, as evidenced by the small gains and cautious regional markets. Most of the most active stocks were penny counters.

At 12.30pm, the FBM KLCI was up 3.48 points to 1,577.08. Turnover was 1.28 billion shares valued at RM676.65 million. Decliners led advancers 382 to 245 while 333 counters were unchanged.

Hong Kong’s Hang Seng Index slipped 0.67% to 20,974.03, Taiwan’s Taiex shed 0.69% to 7,988.42, South Korea’s Kospi 0.26% lower at 2,041.59 but Singapore’s Straits Times Index added 0.58% to 3,006.53. Japan was closed.

At Bursa Malaysia, dealers said retail investors were staying on the sideline while some who had already bought blue chips and mid-cap stocks were awaiting fresh news. They said the retail investors were not ready to rush in.

According to Bursa Malaysia, local retail participation had declined to about 26%, local institutions were at 54.6% and foreigners at about 19.4%.

Focus, which was queried by Bursa Securities over the sharp rise and heavy volume, added 3.5 sen to 23 sen. There were 112.93 million shares done. It warrants, WA added 4.5 sen to 8.5 sen and WB 2.5 sen to 15 sen.

Dutaland-LB added 15 sen to RM1.05, BCorp-LR 15.5 sen to 13 sen. Index-linked stock BAT rose 14 sen to RM52.52, HLFG 10 sen to RM11.98 and PetGas eight sen to RM16.48.

Ta Ann added 12 sen to RM5.87, PIE 11 sen to RM4.88 and IGB seven sen to RM2.87.

Share prices of Metronic Global and its 17%-owned unit Ariantec Global slipped in active trade. Ariantec fell three sen to 10.5 sen and it was the most active with 121.23 million shares done while Metronic eased one sen to 12 sen.

HL Industries was the top loser, down 12 sen to RM4.06, Batu Kawan and United PLANTATION []s shed 10 sen each to RM18.40 and RM25. EPMB extended its decline, down 6.5 sen to 90 sen.



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Market Commentary

The FBM KLCI index gained 3.53 points or 0.22% on Thursday. The Finance Index increased 0.19% to 14116.46 points, the Properties Index up 0.06% to 1051.2 points and the Plantation Index rose 0.15% to 8612.94 points. The market traded within a range of 4.24 points between an intra-day high of 1580.41 and a low of 1576.17 during the session.

Actively traded stocks include NICORP, HWGB, SUMATEC, CSL, SUMATEC-WA, RA, GOCEAN, HWGB-WB, AMEDIA and WINSUN. Trading volume increased to 1769.37 mil shares worth RM1763.28 mil as compared to Wednesday’s 1742.64 mil shares worth RM2030.26 mil.

Leading Movers were TENAGA (+7 sen to RM6.26), CIMB (+5 sen to RM7.36), SIME (+4 sen to RM9.84), GENTING (+6 sen to RM10.80) and AXIATA (+2 sen to RM5.14). Lagging Movers were DIGI (-2 sen to RM4.05), AMMB (-5 sen to RM6.17), PETDAG (-3 sen to RM18.36), PETCHEM (-1 sen to RM6.83) and HLFG (-10 sen to RM12.00). Market breadth was positive with 415 gainers as compared to 336 losers. -- JF Apex Securities Bhd



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Tenaga, Sime power KLCI higher

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

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

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

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

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

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

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

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

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

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

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

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

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

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



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KLCI falls the most in 2012

KUALA LUMPUR (March 7): Blue chips closed lower on Wednesday, with the FBM KLCI among the biggest losers among the key regional markets as it fell the most so far this year on uncertainties whether Greece could secure enough support for its debt revamp.

At the close, the KLCI was down 15.08 points to 1,574.83, which could derail the recent rally which saw the 30-stock index poised to hit the all-time high of 1,597 in July last year.

Turnover was 1.74 billion shares valued at RM2.03 billion. However, the broader market did show some improvement with losers beating gainers 476 to 283 while 314 stocks were unchanged.

Reuters reported a clutch of Greek pension funds and some foreign investors are holding back on a bond swap deal which would enable Greece to meet a debt repayment on March 20, sparking concerns about a chaotic default if participation is low. Greek private creditors have until late Thursday to say whether they will take part.

Key regional markets fell, with the Nikkei 225 down 0.64% to 9,576.06, the Hang Seng Index 0.86% to 20,627.70, Shanghai Composite Index 0.65% to 2,394.79, Taiwan’s Taiex 0.44% to 7,903.08, the Kospi 0.91% tp 1,982.15 and Singapore’s Straits Times Index 0.58% to 2,915.03.

As for Bursa Malaysia, dealers said the pullback was expected as the KLCI was running counter to the key regional markets on Tuesday which fell up to 2%.

They said there was some trading activity in lower liners and penny stocks but this did not have much bearing on the market’s direction.

They also saw no reason for Naim Indah Corp to jump 13.5 sen to 65.5 sen in the absence of any positive fresh news.

Sime Darby fell the most, down 19 sen to RM9.80 and dragging the KLCI down 2.70 points. CIMB lost 11 sen to RM7.31, Genting 18 sen to RM10.74 and Maybank eight sen to RM8.71, pushing the 30-stock index down by a total of 4.93 points.

BAT was the top loser, down 56 sen to RM51.96, HLFG 40 sen to RNM12.10, Batu Kawan 24 sen to RM18.70, MISC 23 sen to RM5.38 and Oriental 21 sen to RM6.28 and Genting PLANTATION []s 20 sen to RM9.29.

Dijaya Corp fell 18 sen to RM1.49 and the warrants 8.5 sen to 54.5 sen.



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Regional markets in the red, KLCI dn nearly 13 pts

KUALA LUMPUR (March 7): All key regional market fell in the morning session on Wednesday, extending their losses from the previous day on renewed uncertainty over Greece's bailout and mounting worries about slowing global economies.

At 12.30pm, the FBM KLCI staged a correction, falling 12.98 points or 0.82% to 1,576.93. Turnover was 941.31 million shares valued at RM939.97 million. Losers beat gainers 515 to 158 while 262 counters were unchanged.

Japan’s Nikkei 225 lost 0.81% to 9,559.45, Hong Kong’s Hang Seng Index fell 0.75% to 20,649.46, Taiwan’s Taiex 0.37% to 7,908.40, South Korea’s Kospi 0.81% to 1,984.25 and Singapore’s Straits Times Index 0.58% to 2,914.97.

US light crude oil rose 43 cents to US$105.13 while crude palm oil futures fell RM9 to RM3,233 per tonne. The ringgit weakened to RM3.0288 against the US dollar.

BIMB Securities Research said it had expected the overnight fall on Wall Street to cause some negative knee-jerk reactions “but (we) see this as a very good opportunity to accumulate on weakness”.

Dealers said retail participation in the market had been low, with traders punting on lower liners and speculative counters. They added local funds were mostly the bigger players in the trading of blue chips and big cap stocks.

CIMB was the biggest drag on the KLCI. It fell 11 sen to RM7.31, pushing the index down by 1.94 points.

HLFG fell the most, down 40 sen to RM12.10, Genting PLANTATION []s 20 sen to RM9.29, MISC 20 sen to RM5.40, Genting 18 sen to RM10.74 and PPB 14 sen to RM16.72.

Dijaya fell 12 sen to RM1.55 and the warrants five sen to 58 sen in active trade, but they were off their intra-morning lows.

Naim Indah was the most active with 204.60 million shares done, up 10.5 sen to 62.5 sen, bucking the weaker market. Silver Bird added five sen to 23.5 sen.

Among the gainers were Ta Ann, up nine sen to RM5.76 and Esso seven sen to RM3.69. Advanced Packaging rose 15 sen to RM1.40 and Iretex 13 sen to RM1.10.



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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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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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