KLCI ends lower, but hangs on above 1,590-level

KUALA LUMPUR (April 20): The FBM KLCI extended its losses to close lower on Friday, as external factors weighed on investor sentiment and dragged stocks lower.

The index fell 4.77 points to close at 1,591.85, weighed by losses including at Petronas Chemicals, Genting, RHB Capital and CIMB.

Market breadth was negative with 364 losers, 317 gainers and 361 counters unchanged. Volume was 1.63 billion shares valued at RM1.48 billion.

Meanwhile, Asian shares fell and commodity-linked currencies such as the Australian dollar slipped on Friday after disappointing U.S. economic data stirred doubts about the strength of the recovery, according to Reuters.

Renewed worries on the euro zone debt crisis also kept riskier assets under pressure, as a better-than-feared Spanish bond auction failed to allay concerns that Spain may follow Greece, Ireland and Portugal in needing an international bailout, it said.

A weekend featuring a potentially rocky meeting of the International Monetary Fund, which is seeking to boost its funds to help contain Europe's problems, and the first round of a French presidential election have heightened the nervousness, said Reuters.

At the regional markets, Japan’s Nikkei 225 was down 0.28% to 9,561.23, Taiwan’s taiex lost 1.52% to 7,507.15, South Korea’s Kospi fell 1.26% to 1,974.65 and Singapore’s Straits Times Index xx

Meanwhile, the Shanghai Composite Index rose 1.19% to 2,406.86 and Hong Kong’s Hang Seng Index edged up 0.07% to 21,010.64.

On Bursa Malaysia, Aeon fell 19 sen to RM9.41, Manulife and Petronas Chemicals fell 14 sen each to RM3.22 and RM6.56, MISC down 13 sen to RM5.03, Genting and Bursa fell 12 sen each to RM10.80 and RM6.85, while SAM Engineering, Litrak, Lafarge Malayan Cement and Kian Joo fell 10 sen each to RM3.55, RM4, RM7.21 and RM2.04 respectively.

Ariantec was the most actievely traded counter with 436.8 million shares done. The stock rose 4.5 sen to 22 sen.

Other actives included Metronic, Focus, Naim indah Corp, CSL, Astral Supreme, AWC and SuperComNet.

Gainers included BAT, Dutch Lady, Aeon Credit, KLK, Jaya Tiasa, Panasonic, Country View, Carlsberg, CBIP and GAB.



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KLCI snaps four-day winning streak, dips at mid-day break

KUALA LUMPUR (APRIL 4): The FBM KLCI snapped its four –day winning streak and retreated at the mid-day break on Wednesday, in line with the generally weaker sentiment at key regional markets following the overnight dip at Wall Street.

Asian shares fell on Wednesday after the minutes from the U.S. Federal Reserve's March meeting suggested the bank was less inclined to take further stimulus measures, leaving investors looking for more clues to the global growth outlook, according to Reuters

Fed policymakers remained focused on a still elevated jobless rate while noting signs of slightly stronger growth, but the minutes suggested the appetite for further quantitative easing, so-called QE3 has waned significantly in light of an improving U.S. economy, it said.

At the mid-day break, the FBM KLCI was down 5.78 points to 1,600.85, weighed by losses at select blue chips.

Market breadth turned negative with losers leading gainers by 369 to 199, while 315 counters traded unchanged. Volume was 571.84 million shares valued at RM399.87 million.

The ringgit weakend 0.45% to 3.0613 versus the US dollar; crude palm oil futures for the third month delivery rose RM31 per tonne to RM3,530, crude oil shed 32 cents per barrel to US$103.69 whiel gold fell US$1.82 an ounce to US$1,644.30.

At the regional markets, Japan's Nikkei share average abruptly broke below 10,000 to hit a four-week low on Wednesday, after stop-losses were triggered on index futures, raising concerns that Tokyo's strong equities rally so far this year was coming to a halt.

The Nikkei 225 fell 1.59% to 9,890.65, Hong Kong’s Hang Seng index lost 1.31% to 20,790.90, Taiwan’s Taiex and South Korea’s Kospi fell 1.3% each respectively to 7,760.85 and 2,022.54 respectively, Singapore’s Straits Times Index shed 0.38% to 3,003.16 while the Shangai Composite Index edged up 0.47% to 2,262.79 .

BIMB Securities Research in a note Wednesday said that traders I the US resorted to profit on Tuesday taking amid signs that additional stimulus were diminishing from the Feds latest signal.

As such, the Dow Jones Industrial Average dipped 65 points to just below the 13,200 level.

We find this odd as we interpret this as positive and that the US economy is on auto pilot without the requirement of more financial steroids.

Regionally, Asian markets were slightly higher across the board except for Taiwan being hit hard from rumours that capital gains tax may be imposed on stock trades.

Meanwhile, the FBM KLCI continued with its uptrend with another record high via another 2.9 point gain to close at almost 1,607.

Nonetheless, we noticed that investors are becoming wary of the local bourse’s recent uptrend and believe a correction would emerge anytime soon.

“Foreign funds had again flowed into the market with another net positive of RM203 million yesterday.”

“Despite the foreign buying, we reckon the index may see some retracement today albeit marginally,” it said.

On Bursa Malaysia, Shell was the top loser in the morning session and fell 14 sen to RM10.14, PPB lost 12 sen to RM16.58, Litrak, Carlsberg and AFG fell 10 sen each to RM3.94, RM10.70 and RM3.86 respectively, Sop and Amway lost nine sen each to RM6.85 and RM9.80, Inno down eight sen to RM1.42, while MMHE and RHB Capital fell seven sen each to RM3.39 and RM7.70.

Among the gainers, Milux added 15 sen to RM1.40, Tradewinds and malPac up 10 sen each to RM9.64 and RM1.59, Tradewinds PLANTATION []s seven sen to RN4.92, Ewein and MBM Resources up six sen each to 84 sen and RM4.8, whiel Quality Concrete, Fiamma and NSOP added five sen each to RM1.29, RM1.15 and RM6.15 respectively.



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KLCI closes higher, lifted by CIMB and select blue chips

KUALA LUMPUR (March 29): The FBM KLCI closed higher on Thursday, lifted by select blue chips including CIMB, Genting, Hong Leong Bank and BAT but the broader market was cautious.

The 30-stock index added 1.69 points to 1585.44. Gainers trailed losers by 260 to 462, while 353 counters traded unchanged. Volume was 1.50 billion shares valued at RM1.39 billion.

Asian shares fell for a second successive day on Thursday as concerns about growth prospects in the world's two largest economies, the United States and China, prompted investors to trim their risk exposure ahead of the end of the quarter, according to Reuters.

The Shanghai Composite Index fell 1.43% to 2,252.16, Hong Kong’s Hang Seng Index lost 1.32% to 20,609.39, Taiwan’s Taiex fell 2.06% to 7,872.66, South korea’s Kospi fell 0.85% to 2,014.41 while Singapore’s Straits Times index fell 0.28% to 3,007.44.

However, European stocks pared early losses and rose on Thursday, bouncing off a three-week low as rallying mining shares offset losses in the energy sector, where Total extended its slide, hit by worries over a gas leak in the North Sea, said Reuters.

On Bursa Malaysia, Warisan TC gained 20 sen to RM2.70, Aeon up 19 sen to RM9.40, BAT 18 sen to RM56.52, Hong Leong Bank 16 sen to RM12.38, Jaya Tiasa and Litrak added 15 sen each to RM8.38 and RM4.10. Toyo Ink rose 12 sen to RM1.58, WCT and Crescendo 11 sen each to RM2.50 and RM1.92, and Shell 10 sen to RM10.20.

Other gainers included CIMB that rose 10 sen to RM7.60, Genting four sen to RM11.14, Genting Malaysia two sen to RM3.89.

Decliners included Dutch lady, BLD PLANTATION []s, RHB Capital, GAB, Batu Kawan, SMPC, Bursa, United Plantations and Kossan.

The actives included Ariantec, Naim Indah Corp, Metronic, SuperComnet, Focus, Ingeuity Solutions, Key West and ManagePay.



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KLCI reverses gains, slips into negative territory

KUALA LUMPUR (March 26): The FBM KLCI slipped and closed in negative territory on Monday in line with most of the key regional markets that reversed their earlier gains and fell in later trade, extending losses after weak PMI reports last week stoked fears that China's economy was slowing and the euro zone is sliding into recession.

The FBM KLCI fell 2.85 points to close at 1,582.98, weighed by losses at index-linked PLANTATION [] stocks and select blue chips including Tenaga and MISC.

At the regional markets, Taiwan’s Taiex lost 1.35% to 7,967.62, South Korea’s Kospi fell 0.38% to 2,019.19, Singapore’s Straits Times Index xx, while Japan’s Nikkei 225 gained 0.07% to 10,018.24, the Shanghai Composite Index added 0.05% to 2,350.690 and Hong Kong’s Hang Seng index closed flat at 20,0668.86.

Meanwhile, European shares rose on Monday in a technical bounce, after recording their steepest weekly loss since the start of the year, as investors searched for bargains and positioned themselves for a potential strong German Ifo figure.

On Bursa Malaysia, Carlsberg was the top loser and fell 26 sen to RM10.20, Jaya Tiasa 22 seen to RM8.08, Chin teck Plantations fell 20 sen to RM9.10, Warisan down 19 sen to RM2.41, Tenaga lost 18 sen to RM6.50, JT International and Litrak lost 16 sen each to RM6.60 and RM3.94, Far East 15 sen to RM7.40 while AirAsia fell 13 sen to RM3.46.

Among plantations, Genting Plantations lost 22 sen to RM9.25, while KLK and IOI Corp fell four sen each to RM23.86 and RM5.34.

Among the gainers, Dutch Lady added 42 sen to RM31.40, SMPC up 28 sen to RM1.84, Aeon 25 sen to RM9.40, BAT 20 sen to RM54, Supercomnet added 19.5 sen to 49.5 sen, PUC and Hartalega 14 sen each to 29 sen and RM8.09, Unisem 13 sen to RM1.46, HLFG 12 sen to RM12.12 while Malayan Flour Mills was up 11 sen to RM4.44.

The actives included Focus, metronic, Supercomnet, Ariantec, Naim Indah Corp, Flonic and Karambunai.



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KLCI closes marginally higher, stays above 1,580-level

KUALA LUMPUR (March 22): the FBM KLCI closed marginally higher on Thursday in line with the mostly mixed regional markets.

However, European stocks slipped on Thursday, keeping the benchmark world equity index below recent eight-month highs, while the dollar was weaker against the yen as data showing China's factory activity shrank renewed concerns about global growth, according to Reuters.

The HSBC flash PMI, the earliest indicator of China's industrial activity, fell to 48.1 in March from February's four-month high of 49.6, with new orders sinking to a four-month low, it said.

It raises the prospect for a further monetary policy easing to help underpin growth, although lingering inflation risks put Beijing's policymakers in a dilemma, it said.

The 30-stock FBM KLCI closed 0.71 of a point higher at 1,583.24, lifted by select blue chips including KLK and Tenaga. Losers overtook gainers by 379 to 363 whie 360 counters traded unchanged. Volume was 2.86 billion shares valued at RM1.5 billion.

At the regional markets, the Shanghai composite Index shed 0.10% to 2,375.77, Singapore’s Straits Times Indexwas down 0.74% to 2,983.48 and South Korea’s Kospi was down 0.05% to 2,026.12.

Elsewhere, Hong Kong’s Hang Seng Index gained 0.22% to 20,901.56, Japan’s Nikkei 225 added 0.40% to 10,127.08 and Taiwan’s Taiex rose 0.98% to 8,059.94.

KLK was the top gainer and added 40 sen to RM23.82, Takaful rose 23 sen to RM2.65, Cybertowers and Jaya Tiasa up 19 sen each to 54 en and RM7.69, MHC PLANTATION []s up 17 sen to RM1.77, Southern Acids 15 sen to RM2.50, Sunchirin and Tenaga 13 sen each to RM1.55 and RM6.71, while Litrak gained 11 sen to RM4.10.

Metronic was the most actively traded counter with 347.7 million shares done. The stock was unchanged at 25.5 sen.

Other actives included Utopia, Ingenuity Solutions, Ariantec, Flonic, DBE Gurney, Hubline and Naim Indah Corp.

Decliners included Lafarge Malayan Cement, PPB, United Plantations, Nestle, Hightec, Kulim, RHB Capital and IOI Corp.



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HDBSVR sees marginal positive bias for equities

KUALA LUMPUR (Feb 27): Hwang DBS Vickers Research (HDBSVR) said in spite of a flattish Wall Street performance last Friday, the Malaysian stock market could show a marginal positive bias on Monday.

HDBSVR said the benchmark FBM KLCI may be eager to pull away further from the immediate support level of 1,555 ahead.

In terms of corporate developments, the focus will probably be on the slew of financial result announcements that were out last Friday evening.

On the positive side, Maxis rang up a pleasant surprise. But DRB-Hicom and Multi-Purpose Holdings posted below par earnings performances.

Meanwhile, investors could also be attracted by the following counters: (a) Litrak, after a business weekly reported that PLUS is eyeing to take over the highway assets of the toll concessionaire; and (b) MBM Resources, in response to a media report speculating that it is looking to expand into the auto assembly business.



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KL shares end lower on profit-taking

KUALA LUMPUR: Share prices on Bursa Malaysia ended sharply lower today on profit-taking amid the uncertainty in the short-term market outlook, dealers said.

The FBM KLCI fell 16.25 points, or 1.1 per cent, to close at 1,475.64, after opening 7.76 points lower at 1,484.13.

The benchmark index hovered between 1,474.61 and 1,485.9 as continuous selling pressure dragged it into negative territory.

Dealers said the market started the new trading month on broadly weaker sentiment led by the consumer and services sectors.

The manufacturing sector was also affected after the release of weak manufacturing figures from China.

China's purchasing managers index for October fell to 50.4 in October from 51.2, reflecting the slow pace of China's manufacturing expansion.

TA Securities senior technical analyst, Stephen Soo, said the market has reached 'overbought' position after a strong rally, so profit-taking was not a surprise.

"The investors also took their cues from Wall Street's losses due to weak leads from European markets as Greece government announced that the country would hold a referendum on a new aid package," he told Bernama here today.

The overall market sentiment was negative with losers led gainers by 583 to 198 while 213 counters were unchanged, 476 untraded and 20 others suspended.

Trading was moderate with a volume of 1.19 billion shares worth RM1.29 billion compared with 1.33 billion shares worth RM1.58 billion yesterday.

The Finance Index fell 60.83 points to 13,433.37, Industrial Index eased 33.40 points to 2,692.24 and the Plantation Index dropped 80.34 points to 7,484.96.

The FBM Emas decreased 116.61 points to 10,052.71 and the FBM 70 Index declined 148.39 points to 10,806.78.

The FBMT100 fell 114.42 points to 9,873.79 and the FBM Ace Index slipped 48.07 points to 3,983.37.

Among losers, Panasonic Manufacturing fell 32 sen to RM19.70, Litrak dropped 17 sen to RM3.47 and Innoprise Plantations slipped 15 sen to RM1.35.

Of the actives, GPRO rose 5.5 sen to 24.5 sen, MBSB-Wa increased half sen to 91 sen and Maxbiz gained three sen to 12 sen.

Among top gainers, F&N rose 20 sen to RM17.20, Hong Leong Bank increased 12 sen to RM10.72 and Jaya Tiasa added 11 sen to RM5.82.

In heavyweights, Maybank gained one sen to RM8.37, CIMB lost eight sen to RM7.49 and Sime Darby was down five sen to RM8.85.

Volume on the Main Market decreased to 916.54 million shares valued at RM1.25 billion from 1.06 billion shares valued at RM1.54 billion on Monday.

Turnover on the ACE market increased to 166.23 million units worth RM27.52 million from 156.02 million units worth RM26.49 million previously.

Warrants slipped to 107.83 million shares valued at RM10.16 million from 111 million units valued at RM8.38 million yesterday.

Consumer products accounted for 64.55 million shares traded on the Main Market, industrial products 212.6 million, construction 47.63 million, trade and services 271.32 million, technology 36.63 million, infrastructure 16.4 million, finance 136.63 million, hotels 458,600, properties 91.7 million, plantation 28.79 million, mining 33,000, REITs 2.49 million and closed/fund 27,000. - Bernama