Stocks to Watch Southern Steel, Sunway, TRC Synergy, Malayan Flour Mills, KKB Engineering, Sime Darby, MMHE

KUALA LUMPUR (May 10): Investor sentiment at Bursa Malaysia on Thursday may remain weak in line with the gloomy sentiment at most global markets, as political uncertainties in Greece and the rising costs of fixing Spain's banks ignited worries that the eurozone's debt crisis was worsening.

The concerns over Europe added to worries about the impact of softer growth in the US on the global economic outlook, causing a broad retreat from risky assets with world shares falling, oil prices down for a sixth straight session and the commodity-linked Australian dollar hitting new lows, according to Reuters.

The market's immediate attention was on Athens where efforts to form a government were expected to fail, putting its ability to meet the terms of its bailout deal in doubt and raising the possibility of Greece being forced out of the euro, it said.

Among the stocks that could be in focus on Thursday are SOUTHERN STEEL BHD [], Sunway Bhd, TRC SYNERGY BHD [], MALAYAN FLOUR MILLS BHD [], KKB ENGINEERING BHD [], SIME DARBY BHD [] and Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE).

Southern Steel has entered into a joint venture (JV) agreement with Belgium-based NV Bekaert SA (NV BK) to form a JV company in Singapore to manufacture specified steel wires in the Asean region. It said in a filing on on Wednesday that it would hold 45% in the JV, with NV BK holding the remaining 55%.

Sunway Bhd's unit Sunway CONSTRUCTION [] Sdn Bhd and TRC Synergy Bhd's subsidiary Trans Resources Corporation Sdn Bhd were among the companies that secured four additional construction packages worth RM3.22 billion for the Sungai Buloh-Kajang MRT.

Sunway Construction was awarded package V4 worth RM1.17 billion, for works between Section 17, Petaling Jaya and the Semantan Portal, while Trans Resources was awarded the Depot package worth RM458.98 million for works related to the Sungai Buloh depot in an open tender category.

Malayan Flour Mills is allocating some RM120 million to expand its flour factory and poultry operations in Malaysia over the next two years. Managing director Teh Wee Chye said the capital expenditure will be financed with the firm's internal funds and bank loans. It has also earmarked US$15 million (RM46.05 million) to expand its two flour factories in Vietnam, he said.

KKB Engineering's net profit for the first quarter ended Mar 31, 2012 fell 60.82% to RM7.71 million from RM19.68 million a year ago, due to the completion of major projects in 2011 and the absence of new projects for both its construction and steel fabrication divisions.

Sime Darby Property and CapitaMalls Asia Ltd will jointly develop a RM500 million shopping mall in Taman Melawati in the Klang Valley. In a joint statement Wednesday, the two companies said they had entered into a conditional agreement to form a 50:50 joint venture to develop the mall on a freehold site in Taman Melawati.

MMHE's net profit for the first quarter ended Mar 31, 2012 fell 39.16% to RM78.27 million from RM128.64 million a year ago, due to the completion of contracts under its engineering and construction arm as well as its marine conversion and repair arm.



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Malayan Flour Mills allocates RM120m to expand Malaysian ops over the next two years

KUALA LUMPUR (May 9) : MALAYAN FLOUR MILLS BHD [] (MFM) is allocating some RM120 million to expand its flour factory and poultry operations in Malaysia over the next two years.

Managing director Teh Wee Chye said the capital expenditure will be financed with the firm's internal funds and bank loans.

"We need to increase efficiency in our operations," Teh said at the company's shareholders meeting here today.

MFM has also earmarked USD15 million to expand its two flour factories in Vietnam, he said.



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KLCI extends loss on external woes

KUALA LUMPUR (April 5): The FBM KLCI extended its loss on Thursday, in line with the weaker overnight close at the US markets as well as lacklustre opening at regional markets.

The 30-stock index fell 3.79 points to 1,595.48 at 9am.

Losers led gainers by 57 to 23, while 86 counters traded unchanged. Volume was 13.1 million shares valued at RM4.09 million.

US stocks fell for a second day on Wednesday as investors contemplated a world without monetary stimulus and a poorly received bond auction in Spain suggested the effects of Europe's funding operations were waning, according to Reuters.

Meanwhile, Global stocks dropped more than 1 percent and gold tumbled to its lowest in nearly three months on Wednesday a day after U.S. central bank meeting minutes dented hopes for more economic stimulus and as a Spanish debt auction drew weak results, it said.

BIMB Securities Research said European stocks fell for a second day yesterday after Spain sold fewer bonds than its maximum target and the Federal Reserve damped expectations of more monetary stimulus for the US. Spain sold €2.6bn (US$3.4bn) of bonds; near the minimum target of €2.5bn; and borrowing costs rose in its first auction since the country said public debt will surge to a record this year.

US stocks ended in negative territory for a second day fueled by disappointment over the Fed's latest minutes and ongoing worries over the euro zone, the research house said in a note April 5.

The Dow and the S&P logged their biggest decline since March 6, while the Nasdaq suffered its worst day of the year. The S&P 500 lost 1 percent to 1,398.96 while DJIA slid 124.8 points to 13,074.75, it said.

“Back home, the local market has retraced as expected where the FBMKLCI fell more than 7 points to 1,599.27; dragged down by financial and PROPERTIES [] sector.

“Net foreign is still positive at RM176.7m yesterday but we reckon market sentiment to be weaker due to profit taking activities coupled with weak share performance in US and Europe. Expect immediate support to be seen at 1,595 followed by 1,590,” it said.

Among the decliners in early trade, KLK fell 22 sen to RM24.38, Genting lost 10 sen to RM10.98, Maybank don nine sen to RM8.79, RHB Capital and Malayan Flour Mills fell four sen each to RM7.70 and RM2, CIMB, MAS, Mah Sing and TDM fell two sen each to RM7.70, RM1.34, RM2.02 and RM4.68 respectively.

Gainers,meanwhile, included Tradewinds, BHIC, Parkson, SEGi, Pos Malaysia, Leader, Proton and N2N.

The actives included JCY, Carotech, Kurasia, Metronic and Winsun.



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CIMB Research has technical buy on Malayan Flour Mills at RM4.65

KUALA LUMPUR (March 29): CIMB Equities Research has a technical buy on Malayan Flour Mills at RM4.65, at which it is trading at a price-to-book value of 1.9 times.

It said on Wednesday Malayan Floor Mills broke out of its consolidation triangle pattern on Tuesday.

“We think that there is a good chance that the stock may swing past its previous high of RM4.68 soon. Once this level is taken out, the following resistance levels are RM4.92 and RM5.10,” it said.

CIMB Research said the indicators also supported its positive stance. MACD is poised for a positive crossover while RSI has also hooked upward.

“Aggressive traders may take position now. However, always place a stop at below RM4.44-RM4.30 to limit downside risk,” it said.



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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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Malayan Flour Mills up on ex-date for special dividend

KUALA LUMPUR (March 22): MALAYAN FLOUR MILLS BHD [] shares advanced on Thursday after it said the special gross dividend of 62 sen per ordinary share of 50 sen each would go ex on April 2 while the entitlement date was April 4.

At 9.15am, Malayan Flour Mills added nine sen to RM4.45 with 851,200 shares done.

The special dividend was part of the corporate exercise which included a renounceable rights issue of 215.289 million new shares with 107.644 million free warrants and 107.644 new shares.

This was on the basis of two rights shares with one warrant and one bonus share for every two shares held on April 4 at an issue price of 93 sen per rights share.



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Malayan Flour Mills posts lower profit of RM103.6m

Malayan Flour Mills Bhd has reported a lower profit before tax of RM103.611 million for the year ended Dec 31, 2011 from RM127.893 million previously.

Revenue for the period concerned increased to RM1.918 billion from RM1.55 billion previously, it said in filing to Bursa. The decline in profit was mainly due to a lower profit margin.

The flour segment recorded revenue of RM858.3 million in FY2011, an increase of 12 per cent compared to RM764.5 million in FY2010, mainly due to higher selling prices.

However, the operating profit of RM65.9 million in FY2011 was 40 per cent lower than RM109.1 million in FY2010, due to a higher increment in raw material cost, resulting in lower profit margin for its products. -- Bernama



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FBM KLCI remains in negative territory at mid-morning

KUALA LUMPUR (Feb 3): The FBM KLCI remained in negative territory at mid-morning on Friday as losses at select blue chips on mild profit taking ahead of the extended weekend weighed on the index.

At 10am, the FBM KLCI fell 4.69 points to 1,532.40, weighed by losses including at Petronas Dagangan, KLK, Genting and Hong Leong Bank.

Losers led gainers by 337 to 175, while 285 counters traded unchanged. Volume was 583.87 million shares valued at RM349.53 million.

Asian shares and major currencies were stuck in ranges on Friday ahead of key U.S. jobs data, which will offer more clues over the state of the world's largest economy, while Greek debt restructuring talks dragged on, according to Reuters.

At the regional markets, Japan’s Nikkei shed 0.33% to 8,847.50, Hong Kong’s Hang Seng Index was down 0.18% to 20,703.00, the Shanghai Composite Index fell 0.30% to 2,305.53 and South Korea’s Kospi lost 0.76% to 1,969.27.

Meanwhile, Singapore’s Straits Times Index gained 0.53% to 2,916.32 and Taiwan’s Taiex added 0.02% to 7,654.22.

BIMB Securities Research in a note Friday said stocks ended mixed in Wall Street yesterday following drop in jobless claims and mixed earnings results.

The Dow Jones Industrial Average closed 0.09% lower while S&P 500 rose 0.11% and Nasdaq was higher by 0.4%, it said.

The good news in US also sent good sentiment in Europe as major European markets ended higher, it said, adding that the better than expected PMI in China also boosted major regional indices.

Back home, the FBM KLCI broke two resistance level at 1,530 and 1,535 to close at 1,537, it said.

“We may expect some profit taking activities today given the mixed results in US; and the local market may face a little uncertainty due to the long weekend.

“We shall see immediate support at 1,530 followed by 1,520 while resistance at 1,540 and 1,545,” it said.

On Bursa Malaysia, Petronas Dagangan fell 34 sen to RM18, KLK down 26 sen to RM25.34, PPB and DKSH lost 18 sen each to RM17.02 and RM1.93, Malayan Flour Mills 14 sen to RM4.51, Genting and SapuraCrest 10 sen each to RM11.06 and RM5.08, Hong Leong Bank eight sen to RM11.36 while Nadayu and AMMB fell six sen each to RM1.04 and RM5.82.

Gainers included BAT, Kretam, Ta Ann, Jaya Tiasa, TDM, BLD PLANTATION []s, Tradewinds, JCY, Shell and Gamuda, while the actives included Mah Sing, DBE Gurney, Mazbiz, JCY and DRB-Hicom.



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KLCI stays in the black at mid-day, lifted by select blue chips

KUALA LUMPUR (Feb 2): The FBM KLCI remained in positive territory at the mid-day break on Thursday, tracking the gains at key regional markets, but struggled to climb above the 1,530-level.

At 12.30pm, the index added 7.94 points to 1,529.23, lifted by gains at select blue chips.

Gainers led losers by 504 to 272, while 338 counters traded unchanged. Volume was 1.46 billion shares valued at RM1.31 billion.

The ringgit strengthened 0.81% to 3.0208 versus the US dollar; crude palm oil futures for third month delivery fell RM10 per tonne to RM3,065, crude oil slipped eight sen to US$97.53 while gold rose US$4.35 an ounce to US$1,747.75.

At the regional markets, Japan’s Nikkei 225 rose 0.91% to 8,889.85, Hong Kong’s Hang Seng Index added 1.46% to 20,629.60, the Shanghai Composite Index up 0.31% to 2,275.04, Taiwan’s Taiex gained 0.75% to 7,605.84, South Korea’s Kospi rose 1.29% to 1,984.55 while Singapore’s Straits Times Index was up 0.48% to 2,918.82.

On Bursa Malaysia, Hartalega was the top gainer this morning and was up 42 sen to RM7.64; BAT added 40 sen to RM49.80, Petronas Gas 38 sen to RM16.06, KAF, Malayan Flour Mills, IJM Corp and Petronas Dagangan added 20 sen each to RM1.95, RM4.53, RM5.94 and RM18.20 respectively, United PLANTATION []s 18 sen to RM20.52 while SOP added 15 sen to RM6.30.

Tebrau Teguh was the most actively traded counter after a takeover offer made by Iskandar Waterfront Holdings Sdn Bhd (IWH), which is offering 76 sen per share – or just one sen above Tebrau’s pre-suspension price of 75 sen.

The stock rose 8.5 sen to 83.5 sen with 52.6 million shares done.

Other actives included DBE Gurney, Petronas Chemicals, Coastal Contracts, DRB-Hicom, Karyon, UEM Land and Benalec.

Decliners included Glenealy, RHB Capital, Southern Steel, Mintye, Dutch Lady, KLK, TDM, Tenaga, Melewar and SHL.



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KLCI stays cautious in line with the retreat at key regional markets

KUALA LUMPUR (Jan 30): Trading on the FBM KLCI remained cautious at mid-morning on Monday, in line with the subdued sentiment at key regional markets ahead of key economic data from the US as well as developments in Europe in relation to the Greece debt issues.

At mid-morning, the 30-stock index edged up 0.56 of a point to 1,521.46.

Gainers led losers by 279 to 199, while 263 counters traded unchanged. Volume was 582.43 million shares valued at RM239.19 million.

Asian shares inched lower and the euro eased from its highest in more than six weeks on Monday, as markets cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed another European summit meeting, according to Reuters.

World stocks fell on Friday on a slower-than-expected annualised 2.8 percent growth in the U.S. economy in the last quarter of 2011, the fastest quarterly rate in 1-1/2 years, while U.S. stocks were also weighed down by disappointing corporate results, it said.

At the regional markets, Japan’s Nikkei 225 fell 0.64% to 8,784.31, Hong Kong’s Hang Seng Index was down 0.55% to 29,388.50, the Shanghai Composite Index lost 0.91% to 2,297.96, Taiwan’s Taiex rose 2.86% to 7,440.49, South Korea’s Kospi fell 0.68% to 1,951.45 while Singapore’s Straits Time Index lost 0.91% to 2,889.79.

BIMB Securities Research in a note Monday said that a slew of developments both in the US and Europe could chart the direction of global equity markets this week.

Impending economic data plus more corporate results from the US and the European Summit may well see investors stay sidelined, it said.

As such, there were some profits taking activities ahead of this week’s events with the Dow Jones Industrial Average losing 74 points last Friday, it said.

The research house said that as for Europe, most major indices ended up in the negative territory after an across the board technical rebound on Thursday.

Regionally, most major bourses continued with their uptrend buoyed possibly by prospects of more monetary easing within the region, it said.

Nonetheless, latest move by China to maintain its SRR would disappoint some market observers and trigger some profit taking today, it said.

“Domestically, the FBM KLCI maintained its range trading activities without any headway from the lack of fresh catalysts and may test the immediate support of 1,515 today.

“Nonetheless, the stronger ringgit at RM3.04 per US$1 may be a precursor of foreign funds trickling in,” it said.

On Bursa Malaysia, privatisation targets Glenealy and Lingui were among the top gainers. Glenealy jumped 65 sen to RM7.20 while Lingui added 17 sen to RM1.53.

Other gainers included GFB that added 26 sen to RM1.47, Hartalega up 25 sen to RM7.15, Malayan Flour Mills 16 sen to RM4.13, Tradewinds PLANTATION []s 14 sen to RM4.82, Pos Malaysia 13 sen to RM2.88, Sunchirin 12 sen to RM1.77 while MBM Resources and Boustead REIT added nine sen each to RM3.78 and RM1.80.

The actives included DBE Gurney, DRB-Hicom, Hubline, Privasia, Utopia while the decliners included Nestle, Maybulk, JobStreet, KLK< Boxpak, Chin Teck, Unisem and Genting.



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KLCI up at mid-morning, but gains seen capped

KUALA LUMPUR (Jan 25): The FBM KLCI edged up gingerly at mid-morning on Wednesday, the first trading of the lunar year of the Dragon, in line with the muted gains at some of the key regional markets.

At mid-morning, the FBM KLCI gained 1.95 points to 1,524.61m lifted by gains at select blue chips.

Gainers led losers by 217 to 146, while 183 counters traded unchanged. Volume was 208.91 million shares valued at RM186.76 million.

Asian shares rose on Wednesday, underpinned by strong earnings from U.S. TECHNOLOGY [] giant Apple, stabilising European money markets and falling euro zone debt yields, with investors shifting their focus to the Federal Reserve from Europe, according to Reuters.

At the regional markets, Japan’s Nikkei 225 was up 0.81% to 8,856.06, South Korea’s Kospi gained 0.84% to 1,966.34, Australia’s S&P/ASX 200 Index rose 0.71% to 4,254.20 and Singapore’s Straits Times Index added 0.59% to 2,866.28.

The China, Hong Kong and Taiwan markets remained closed for the Chinese New Year holidays.

BIMB Securities Research in a note Wednesday said that despite concerns of Greece’s ongoing negotiations with the private sector over its debts may have hit a brick wall, we noticed that investors’ risk tolerance have had improved.

Given the same developments six months ago, equity indices would have spiralled downwards rather than the resilience shown over the past few days, it said.

Major European bourses closed marginally lower with the Dow Jones Industrial Average losing 33 points to remain above 12,600, it said.

Regionally, most major bourses were still closed for Chinese New Year celebrations and those that were opened, ended up in positive territory.

Though many are still on holiday mood, BIMB Securities Research said it expects trading to be mixed today regionally.

“Locally, the FBM KLCI edged up almost 6 points last Friday to stay above the 1,520 level.

“Though some profit taking is expected to emerge, we expect the benchmark to be well supported from selective buying on blue chips and could possibly move even higher with the 1,530 as the immediate,” it said.

Among the gainers on Bursa Malaysia at mid-morning, Dutch Lady added 52 sen to RM26.50, BAT 50 sen to RM50, KLK up 48 sen to RM25.96, Hong Leong Bank 30 sen to RM11.40, Batu Kawan 20 sen to RM18.90, Malaya Flour Mills, PPB and MPI rose 18 sen each to RM7.98, RM17.18 and RM3.46, NSOP 14 sen to RM5.84 while HLFG added 12 sen to RM11.88.

DBE Gurney was the most actively traded counter with 20.94 million shares done. The stock added half a sen to 13 sen.

Other actives included Compugates, JCY, Hibiscus, DRB-Hicom warrants, Maybulk and CIMB.

Decliners at mid-morning included F&N, CIMB, Genting, Genting PLANTATION []s, Supermax, Esso, Bumi Armada, MSM and Weida.



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Banks, blue chips lift KLCI firmly higher

KUALA LUMPUR (Jan 26): The FBM KLCI closed firmly higher on Thursday as banking and blue chip counters rallied, while investors also nibbled on lower liner stocks.

The 30-stock index closed 4.10 points higher at 1,523.86.

At the regional markets, Hong Kong’s Hang Seng Index jumped 1.63% to 20,439.14, South Korea’s Kospi edged up 0.25% to 1,957.18 and Singapore’s Straits Times Index edged up 0.10% to 2,894.43, while Japan’s Nikkei 225 fell 0.39% to 8,849.47.

Financial markets in mainland China and Taiwan are shut for the Lunar New Year holiday this week and will resume trading on Monday.

Meanwhile, European shares rose on Thursday, halting two-days of losses, after the U.S. Federal Reserve said interest rates would remain low for a considerably longer period than expected and it was ready to offer additional stimulus to boost economic growth, according to Reuters.

On Bursa Malaysia, Genting PLANTATION []s added 37 sen to RM9.65, Tahps 32 sen to RM4.50, TDM and AutoV 21 sen each to RM4.42 and RM1.86, Batu Kawan, DRB-Hicom and AIC 20 sen each to RM19, RM2.50 and RM1.49, while Boxpak added 19 sen to RM2.36.

Among banking stocks, HLFG added 36 sen to RM12.26, Hong Leong Bank up 30 sen to RM11.60, Public Bank eight sen to RM13.40, AMMB three sen to RM5.82 and Maybank two sen to RM8.22.

DBE Gurney was the most actively traded counter with 130.3 million shares done. The stock added 1.5 sen to 14 sen.

Other actives included Karyon, Hibiscus, JCY, DRB-Hicom and Jotech.

Among the decliners, Dutch Lady fell 20 sen to RM25.58, Malayan Flour Mills 16 sen to RM3.87, Encorp and Nestle 10 sen each to 58 sen and RM56, APM Automotive and Can-One down eight sen each to RM4.60 and RM2.09, Top Glove seven sen to RM5.06, while Inno, Sungei Bagan and KLCCP lost six sen each to RM1.44, RM2.90 and RM3.30 respectively.



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KLCI starts year of the Dragon in the red as banks, blue chips weigh

KUALA LUMPUR (Jan 25): The FBM KLCI reversed its earlier gains and closed lower on its first trading day of the Lunar year of the Dragon, weighed by losses at key blue chips including banking and Petronas-linked stocks.

The FBM KLCI shed 2.90 points to 1,519.76, as some investors are still on extended post-Chinese New Year holidays.

Gainers led losers by 389 to 315, while 296 counters traded unchanged. Volume was 1.34 billion shares valued at RM1.54 billion.

At the regional markets, Japan’s Nikkei 225 was up 1.12% to 8,883.69, Australia’s S&P/ASX 200 Index rose 1% to 4,329.10, South Korea’s Kospi added 0.12% to 1,952.23 and Singapore’s Straits Times Index rose 1.48% to 2,891.64.

The China, Hong Kong and Taiwan markets remained closed for the Chinese New Year holidays.

Meanwhile, European shares were lower in early trade on Wednesday, weighed by the tech sector after a sharp post-results decline for Ericsson, according to Reuters.

The mobile telecoms network gear maker sank 14% after its fourth quarter earnings came in well below forecast. That compared with more bullish results from U.S. peer Apple overnight, it said.

On Bursa Malaysia, CIMB led the losses at banking stocks and fell 12 sen to RM6.99; Maybank and Affin lost six sen each to RM8.20 and RM3.16, AMMB five sen to RM5.79, while AFG and RHB Capital shed two sen each to RM3.87 and RM7.27.

Petronas Dagangan fell 10 sen to RM17.50, Petronas Chemicals down eight sen to RM6.60 and Petronas Gas shed four sen to RM15.20.

Other decliners included Tahps, Dutch Lady, Harvest Court, LPI Capital, Toyo Ink and KESM.

Among the gainers, BAT rose 50 sen to RM50, KLK 42 sen to RM25.90, MPI 39 sen to RM3.67, Tradewinds PLANTATION []s and Malayan Flour Mills 27 sen each to RM4.53 and RM8.07, BHIC 23 sen to RM3.80, Fima Corp 21 sen to RM6.25, Hong Leong Bank 20 sen to RM11.30 and DKSH 18 sen to RM2.16.

Hibiscus, which was the most actively trade counter, was issued with an unusual market activity query.

Hibiscus rose 32 sen to RM1.52 with 53.5 million shares done while its warrants added 14.5 sen to 85 sen with 176.11 million units traded.

Other actives included DBE Gurney, JCY, Hubline, Maybulk, Compugates and CIMB.



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KLCI slips at mid-day break, blue chips weigh

KUALA LUMPUR (Jan 25): The FBM KLCI slipped into negative territory at the mid-day break on Wednesday, weighed by losses at key blue chips including CIMB, Genting and Petronas-linked stocks.

At 12.30pm, the FBM KLCI fell 2.37 points to 1,520.29.

Losers overtook gainers by 305 to 270, while 243 counters traded unchanged. Volume was 502.97 million shares valued at RM566.35 million.

The ringgit strengthened 0.23% to 3.0798 versus the US dollar; crude palm oil futures for the third month delivery rose RM12 per tonne to RM3,177, crude oil gained 21 cents per barrel to US$99.16 while gold rose US$1 an ounce to US$1,666.68.

At the regional markets, Japan’s Nikkei 225 rose 1.21% to 8,891. 89, Australia’s S&P/ASX 200 Index gained 0.88% to 4,261.40, Singapore’s Straits Times Index added 0.83% to 2,872.90 and South Korea’s Kospi was up 0.33% to 1,956.41.

The China, Hong Kong and Taiwan markets remained closed for the Chinese New Year holidays.

On Bursa Malaysia, Nestle fell 30 sen to RM55.70, Dutch Lady 20 sen to RM25.78, CIMB 12 sen to RM6.99, Golsta and KESM 10 sen each to 39 sen and RM2, Affin nine sen to RM3.13, Petronas Chemicals and Genting eight sen each to RM6.60 and RM10.90, Petronas Gas four sen to RM15.20 while Genting PLANTATION []s was down three sen RM9.25.

DBE Gurney was the most actively traded counter with 46.72 million shares done. The stock was unchanged at 12.5 sen.

Other actives included JCY, Compugates, MBSB, Maybulk, CIMB, Unisem and DRB-Hicom.

Among the gainers, BAT was up 46 sen to RM49.96, MPI 35 sen to RM3.63, Malayan Flour Mills 24 sen to RM8.04, Hong Leong Bank and BHIC 20 sen each to RM11.30 and RM3.77, Tradewinds Plantations and Fima Corp 17 sen each to RM4.43 and RM6.21, KLK 16 sen to RM25.64 while NSOP and Batu Kawan added 14 sen each to RM5.84 and RM18.84.



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KLCI holds steady at mid-day break, but struggles to breach 1,520

KUALA LUMPUR (Jan 20): The FBM KLCI held steady at the mid-day break on Friday but struggled to stay above the 1,520-point level, while most key regional markets extended their gains to fresh two-month highs.

At 12.30pm, the FBM KLCI rose 2.55 points to 1,519.36.

Gainers led losers by 358 to 237, while 305 counters traded unchanged. Volume was 989.06 million shares valued at RM645.76 million.

The ringgit edged up 0.05% to 3.1027 versus the US dollar; crude palm oil futures for the third month delivery gained RM16 per tonne to RM3,173, crude oil added 11 cents a barrel to US$100.50 while gold slipped US$1.32 an ounce to US$1,657.03.

At the regional markets, Japan’s Nikkei 225 rose 1.31% to 8,752.95, South Korea’s Kospi gained 0.95% to 1,933.16, Singapore’s Straits Times Index added 0.55% to 2,826.55, the Shanghai Composite Index up 0.37% to 2,304.59 and Hong Kong’s Hang Seng Index up 0.25% to 19,992.50.

On Bursa Malaysia, Petronas Dagangan added 20 sen to RM17.70, New Hoong Fatt up 17 sen to RM2.50, Yinson 15 sen to RM2.29, KLK and TDM up 14 sen each to RM24.92 and RM4.11, Can-One up 13 sen to RM2.13, Malayan Flour Mills, Batu Kawan and MPI added 12 sen each to RM7.80, RM18.78 and RM3.27 respectively, while Genting PLANTATION []s rose 11 sen to RM9.26.

DBE Gurney was the most actively traded counter after it confirmed that it was in talks with a shareholder of CI Holding Bhd which includes a private placement exercise.

The stock fell half a sen to 13 sen with 121.84 million shares done, while its warrants gained half a sen to 8 sen with 49.99 million units done.

Other actives included TMS, DVM, Compugates, Flonic, Utopia and Focus.

Decliners at mid-day included BAT, Nestle, Supermax, A-Rank, Cepco, Harvest Court, Dutch Lady, KrisAssets and Fututec.



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KLCI tapers down at mid-morning on mild profit taking

KUALA LUMPUR (Jan 18): The FBM KLCI slipped into negative territory at mid-morning on Wednesday on mild profit taking as investors began squaring off positions ahead of the extended weekend to celebrate the Chinese New Year next week.

At 10am, the FBM KLCI fell 2.19 points to 1,517.17, weighed by select blue chips.

Gainers edged losers by 209 to 185, while 229 counters traded unchanged. Volume was 361.96 million shares valued at RM185.82 million.

Asian shares and the euro steadied on Wednesday after sentiment improved on soothing economic data the day before, as focus returns to Europe with Portugal testing investor confidence in a debt sale and Greece resumes talks on its debt restructuring, according to Reuters.

European equities hit their highest in more than five months while gains in U.S. stocks were pared on Tuesday after Citigroup Inc reported an 11 percent drop in quarterly profit, as the European crisis battered capital markets and hurt the bank's trading revenue and fee-generating deals, it said.

At the regional markets, Japan’s Nikkei 225 rose 0.11% to 8,476.12, Hong Kong’s Hang Seng Index added 0.14% to 19,654.70, the Shanghai Composite Index was up 0.17% to 2,302.31 and Taiwan’s Taiex gained 0.24% to 7,238.25.

Meanwhile, South Korea’s Kospi fell 0.22% to 1,888.53 and Singapore’s Straits Times Index shed 0.19% to 2,810.36.

BIMB Securities Research in note Jan 18 said that investors’ risk appetite had expanded, adding that despite the looming Greece debt default and the recent downgrade of some European credit ratings, equity markets both in the US and Europe advanced buoyed by positive economic news.

Unlike previously, the positives now carry higher multiplier effects than the negatives, it said.

Reflecting the improved sentiments, yields of Italy, Germany and Spain had all declined, it said.

The research house said most European bourses closed higher overnight with the Dow Jones Industrial Average upped 60 points despite off its intra-day high.

Regional performances were also on a high with most ended the day on positive tone possibly from improved opening over in Europe, it said.

“Locally, the FBM KLCI rose 10 points yesterday to close above its immediate resistance of 1,515 at 1,519.36.

“We reckon there are funds out there snapping at equities on weakness and see the index to remain resilient. We may see the next immediate resistance of 1,525 level breached today,” it said.

On Bursa Malaysia, Petronas Dagangan was the top loser at mid-morning and fell 34 sen to RM17.16; Ireka and Eupe fell 13 sen each to 66 sen and 50 sen, Tenaga down 12 sen to RM6.11, Malayan Flour Mills and Maybank nine sen each to RM7.68 and RM8.20, United PLANTATION []s and PPB six sen each to RM20 and RM16.94, while Sapura Industrial and Delloyd fell five sen each to RM1.40 and RM3.38.

DBE Gurney was the most actively trade counter with 49.3 million shares done. The stock gained one sen to 10 sen.

Other actives included XDL, E&O, BIMB, Compugates, Mudajaya and Maybulk.

Gainers at mid-morning included BAT, Sungei Bagan, Batu Kawan, HLFG, Carlsberg, Parkson, Genting, CCM and Mudajaya.



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KLCI edges up at mid-morning, Proton in focus

KUALA LUMPUR (Jan 17): The FBM KLCI staged a mild recovery at the mid-morning break on Tuesday and rose in line with the steadying key regional markets.

At 10am, the FBM KLCI gained 1.94 points to 1,511.00.

Gainers led losers by 211 to 163, while 215 counters trade unchanged. Volume was 371.7 million shares valued at RM371.23 million.

Meanwhile, PROTON HOLDINGS BHD [] shares were actively traded after Khazanah Nasional Bhd finally put an end to months of speculation and announced it was divesting its 42.72% Proton stake to DRB-HICOM BHD [] for RM5.50 per share or RM1.291 billion cash.

Upon completion of the sale and purchase agreement, DRB-Hicom will be obliged to undertake a mandatory general offer on the remaining Proton shares.

Proton jumped 25 sen to RM5.43 with 40.1 million shares done.

Asian shares inched higher and the euro stayed above a 17-month trough on Tuesday as investors focused on economic data from China to gauge the impact of the euro zone debt crisis on global growth, according to Reuters.

European shares and the euro recovered on Monday, shrugging off the latest move by Standard & Poor's to cut a top-notch credit rating on the euro zone's bailout fund, following mass downgrades late last week which stripped France and Austria of their prime AAA ratings. U.S. markets were closed for a holiday on Monday, it said.

At the regional markets, Japan’s Nikkei 225 added 0.58% to 8,426.67, Hong Kong’s Hang Seng Index gained 1.49% to 19,296.20, the Shanghai Composite Index rose 0.56% to 2,218.60, Taiwan’s Taiex was up 0.85% to 7,163.78, South Korea’s Kospi rose 1.51% to 1,887.40 and Singapore’s Straits Times Index added 0.65% to 2,774.49.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Tuesday said that due to the European markets’ quiet tone last, it could be yet another benign day of trading activity on Bursa Malaysia.

“From the recent 1,310.53 low to the 1,493.28 high, the index held the 38.2% retracement level of 1,424.19.

“The market’s next swing high was located at 1,530.73 (Dec 30). Pressure is building towards the downside and a test of 1,500 is imminent,” he said.

On Bursa Malaysia, other gainers at mid-morning included Petronas Gas that rose 14 sen to RM15.48, Shell 13 sen to RM9.55, Subur Tiasa and Genting up 12 sen each to RM2.44 and RM10.68, BLD PLANTATION []s, Kretam and Malayan Flour Mills nine sen each to RM8, RM2.38 and RM7.89, while Manulife added eight sen to RM3.16.

Decliners included Genting Plantations, GAB, The Store, Tenaga, Pos Malaysia, MMHE and Fima Corp, while the actives included Proton, DRB-Hicom, Hovid, Compugates and E&O.



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

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

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

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

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

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

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

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

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

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

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

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

Other actives included DRB-Hicom, Utopia and Proton.



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KLCI advances in late trade, extends gains for fourth day

KUALA LUMPUR (Jan 12): The FBM KLCI extended its gains for the fourth consecutive day on Thursday as late buying of select blue chips, including Genting-related counters lifted the index.

At 5pm, the index rose 3.27 points to 1,525.56.

Market breadth however remained weak with losers leading gainers by 418 to 351, while 339 counters traded unchanged. Volume was 1.52 billion shares valued at RM1.58 billion.

Regional markets mostly ended lower, while European shares were flat on Thursday, pausing ahead of a Spanish debt auction that is the first test in the new year of demand for peripheral euro zone debt, the latest stage of a crisis that remains a key drag for equity market sentiment, according to Reuters.

At the regional markets, Japan’s Nikkei 225 fell 0.74% to 8,385.59, the Shanghai Composite Index lost 0.47% to 2,275.01, Hong Kong’s Hang Seng Index was down 0.30% to 19,095.38 and Taiwan’s Taiex shed 0.02% to 7,186.58 and Singapore’s Straits Times Index fell 0.13% to 2,743.66.

Meanwhile, South Korea’s Kospi rose 1.03% to 1,864.57.

On Bursa Malaysia, Genting PLANTATION []s gained 21 sen to RM9.10, Genting up 20 sen to RM10.96, Proton and Hartalega 18 sen each to RM5.46 and RM6.40, Bursa Malaysia 17 sen to RM7.03, Malayan Flour Mills 15 sen to RM7.55, Pos Malaysia and Can-One up 13 sen each to RM2.70 and RM1.78, Southern Acids 12 sen to RM2.29 while Allianz gained 11 sen to RM4.88.

Among the decliners, Carlsberg fell 33 sen to RM8.43, GAB down 26 sen to RM12.06, KLK 18 sen to RM24.52, New Hoong Fatt and BHIC 13 sen each to RM2.31 and RM3.68, Nestle and BAT 12 sen each to RM55.80 and RM49.84, Litrak 11 sen to RM3.74 and Dutch Lady 10 sen to RM26.10.

Ingenuity Solutions was the most actively traded counter with 41.32 million shares done. The stock added one sen to 8 sen.

Other actives included Proton, Nextnation, Pos Malaysia, Bursa Malaysia and OSK.



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KLCI closes higher for third day running, gains capped

KUALA LUMPUR (Jan 10): The FBM KLCI closed marginally higher for the third day running on Wednesday, but gains remained capped in line with the mixed sentiment at regional markets.

The FBM KLCI edged up 0.30 of a point to close at 1,522.29.

Gainers beat losers by 437 to 384, while 301 counters traded unchanged. Volume was 1.91 billion shares valued at RM1.94 billion.

Meanwhile, Europe's persistent debt crisis kept the single currency and global stocks under pressure on Wednesday, threatening to overshadow a slight improvement in the economic outlook that has driven a solid rally in world equity markets, according to Reuters.

European shares hit a one-week closing high on Tuesday, and U.S. stocks reached a five-month peak, after an upbeat forecast by aluminum company Alcoa about the demand outlook for the metal and amid rising hopes of a policy easing in China.

At the regional markets, Hong Kong’s Hang Seng Index rose 0.78% to 19,151.94, Japan’s Nikkei 225 added 0.30% to 8,447.88, Taiwan’s Taiex up 0.13% to 7,188.21 and Singapore’s Straits Times Index rose 1% to 2,747.13.

Meanwhile, the Shanghai Composite Index fell 0.42% to 2,276.05 and South Korea’s Kospi lost 0.41% to 1,845.55.

On Bursa Malaysia, glove makers were in focus on expectations that earnings going forward would see improvement given the outlook for favourable natural rubber prices.

Supermax jumped 39 sen to RM4.32, Kossan 27 sen to RM3.57, Hartalega up 22 sen to RM6.22, Top Glove 19 sen to RM5.25, Adventa 11 sen to RM1.73, Latexx 10 sen to RM2.01 and Rubberex added 3.5 sen to 73 sen.

Other gainers included Malayan Flour Mills that added 22 sen to RM7.40, Dutch Lady 20 sen to RM26.20, Hai-O 19 sen to RM2.16 and Mudajaya 17 sen to RM2.49.

Decliners included PPB and Hibiscus that fell 16 sen each to RM17.04 and RM1.02, Genting and KLK down 14 sen each to RM10.76 and RM24.70, Super Enterprise, OFI and Can-One 13 sen each to 82 sen, RM1.52 and RM1.65, while Sui Wah fell 11 sen to RM1.46.

Takaso was the most actively traded counter with 83.6 million shares done. The stock added half a sen to 25 sen.

Other actives included Mudajaya, Hubline, Hibiscus, Iris Corp and XDL.



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