KLCI stays in the black at mid- day break

KUALA LUMPUR (May 8): The FBM KLCI reversed its earlier losses and stayed in positive territory at the mid-day break on Tuesday, in line with most key regional markets that shrugged off jitters from a day earlier following election results in Greece and France.

The FBM KLCI added 2.75 points to 1,587.62 at the mid-day break, lifted by gains at select blue chips.

Gainers outpaced losers by 302 to 272, while 332 counters traded unchanged. Volume was 620.94 million shares valued at RM467.71 million.

The ringgit strengthened 0.01% to 3,0543 versus the US dollar; crude palm oil futures rose RM28 per tonne to RM3,374, crude oil shed two cents per barrel to US$97.92 and gold fell US$1.63 an ounce to US$1,636.93.

Shares recovered on Tuesday from the previous day's plunge, as sentiment improved on hopes Spain would use public funds to bolster its struggling banks, although persistent wariness over Greece weighed on the euro, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent, having slid more than 2 percent the day before for its worst daily fall in about five months and hitting its lowest in about three months, it said.

At the regional markets, Japans’ Nikkei 225 gained 0.68% to 9,180.87, South Korea’s Kospi added 0.50% to 1,966.13, Singapore’s Straits Times Index was up 0.42% to 2,937.16 and Taiwabn’s Taiex edged up 0.13% to 7,548.19.

Meanwhile, the Shanghai Composite Index lost 0.65% to 2,435.90 and Hong Kong’s Hang Seng Index shed 0.05% to 20,525.90.

On Bursa Malaysia, BAT was the top gainer and rose 70 sen to RM55.86, Kulim 24 sen to RM4.48, Tasek 20 sen to RM9.23, Ekovest 17 sen to RM2.65, MSM 16 sen to RM5.34, Atlan 13 sen to RM4.39, Tong Herr and Permaju 11 sen each to RM2.51 and 84 sen, whiel Nakamichi and Multico added 10 sen each to 76 sen and RM1.25.

Menawile, Genting rose eight sen to RM10.64, Genting PLANTATION []s six sen to RM9.50 and Petronas Chemicals up three sen to RM6.58.

TMS was the most actively traded counter with 41.34 million shares done. The stock added half a sen to 9.5 sen.

Other actives included Sanbumi, Ariantec, JCY, Permaju, Naim Indah Corp and Metronic.

Decliners in the morning session included Jaya Tiasa, Toyo Ink, Lafarge Malayan Cement, PPB, JCY, Sarawak Oil Palms, IJM Land, MMHE, Texchem and OIB.



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Multi-Code 2Q earnings up 21.7% to RM2.18m

KUALA LUMPUR (March 27): Multi-Code Electronics Industries (M) Bhd’s earnings rose 21.7% to RM2.18 million for the second quarter ended Jan 31, 2012 from RM1.79 million a year ago due to a specific non-recurring expense incurred then.

It said on Tuesday its revenue rose 4.1% to RM25.28 million from RM24.27 million a year ago due to sales of a new product. Earnings per share were 4.92 sen versus 4.04 sen. It declared an interim dividend of 3.0 sen per share.

For the first half ended Jan 31, 2012, its earnings registered a 50.7% increase to RM5.37 million from RM3.56 million in the previous corresponding period. Its revenue increased by 12.3% to RM53.90 million from RM48 million.



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FBM KLCI falls below 1,560-level at mid-morning

KUALA LUMPUR (Feb 15): The FBM KLCI fell below the 1,560-level at mid-morning on Wednesday, weighed by select blue chips in cautious trade ahead of domestic economic growth data scheduled for release later in the day.

The FBM KLCI fell 7.06 points to 1,558.99 at 10am, weighed by select blue chips including BAT, PPB and Petronas Gas.

Gainers trailed losers by 162 to 300, while 271 counters traded unchanged. Volume was 419.75 million shares valued at RM223.51 million.

At the regional markets, Japan’s Nikkei 225 rose 1.02% to 9,144.15, Hong Kong’s Hang Seng Index added 0.43% to RM21,008.50, Taiwan’s Taiex was up 0.54% to 7,926.44, South Korea’s Kospi gained 0.55% to 2,013.69, Singapore’s Straits Times Index edged up 0.08% to 2,989.81 while the Shanghai Composite Index was flat at 2,344.86.

BIMB Securities Research in a note Wednesday said European shares closed lower yesterday after lower than expected US retail sales.

European officials jacked up the pressure on the Greek government to deliver budget cuts in exchange for a second bailout as they insisted that default is not an option, it said.

“Meanwhile in the US, stocks were near lows on earlier trading worries that euro zone finance ministers appeared unlikely to release the Greek bailout funds as hoped, however they retreated in the final half hour spurred by optimism that Greece will commit to budget cuts stopped short of erasing a huge decline in the S&P 500 while the DJI added 0.03%.

“Back home, the FBMKLCI remains positive, adding another 3.23 points to 1,566 and we expect it to test its immediate resistance of 1,570, followed by 1,580 today while support remains at 1,560,” it said.

On Bursa Malaysia, BAT fell 46 sen to RM51.32, United PLANTATION []s down 14 sen to RM22.24, GAB, PPB, Petronas Gas, Hartalega and F&N fell 10 sen each to RM12.50, RM17.60, RM16.64, RM8.16 and RM17.590 respectively, Carlsberg was down eight sen to RM9.48, Bursa seven sen to RM7.40 and Multico shed six sen to RM1.20.

Naim Indah Corp was the most actively traded counter with 49.14 million shares done. The stock fell 1.5 sen to 46.5 sen.

Other actives included TMS, MBF Holdings warrants, Scanwolf, RCE Capital, Envair, TMC Life and Green Packet.

The advancing stocks included Dialog, Petronas Dagangan, TMS, Jaya Tiasa, Boxpak, Apollo, Brahims, Kulim and Jetson.



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Multi-Code gains on Q1 profit surge

Multi-Code Electronics Industries Bhd, a Malaysian auto parts maker, rose the most in two weeks in Kuala Lumpur trading after fiscal first-quarter profit surged 80 percent to RM3.2 million.

The stock gained 12 percent to 75 sen at 9:08 a.m. local time, set for its steepest increase since Dec. 13. -- Bloomberg



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