KLCI bucks key regional markets

KUALA LUMPUR (March 5): The Malaysia stock market bucked the regional markets on Monday, underpinned by gains in selected banking stocks and heavyweights, while the broader market displayed an upbeat outlook as the FBM KLCI neared the all-time high of 1,594.

At 12.30pm, the KLCI was up 0.4% or 6.71 points to 1,590.49, but off a fresh intraday high of 1594.72. Turnover was 832 million shares worth RM818 million. Gainers beat losers 381 to 289 decliners while 316 counters were unchanged.

However, Asian stock indices declined at noon amid news that China had revised downwards its economic growth forecast to 7.5% in 2012. This compares to policymakers’ targeted growth of 8% between 2005 and 2011. China's economy rose 9.2% in 2011 from a year earlier following a 10.3% expansion in 2010.

Hong Kong’s Hang Seng Index fell 1.13% to 21,318.9, Taiwan’s Taiex lost 1.08% to 8026.96 while South Korea’s Kospi was down 0.9% to 2016.31 and Singapore’s Straits Times Index 0.16% at 2,988.72.

On the KLCI, analysts said it was trading at more expensive valuations compared to regional peers.

In a note on Monday, TA Securities Holdings Bhd head of research Kaladher Govindan said Indonesia and Thailand, offered better calendar year 2013 earnings growth prospects of 17.8 % and 14.9% respectively and are trading at a relatively cheap price-to-earnings ratios (PER) of 11.5 times and 10.7 times respectively.

This compares to Malaysia's FBM KLCI’s projected 12.2% growth at a PER of 13.2 times (based on Bloomberg consensus figures).

“While Malaysia being a low beta market had only advanced by 2.5% year-to-date, continued PER expansion in other regional markets on positive market undertone has the potential to rerate Malaysia as well.

“The impending announcement of various infrastructure and oil gas projects under the Economic Transformation Programme banner in the first half of this year could be strong drivers for the market apart from the listing of Felda Global Ventures that could draw fresh funds from abroad,” said Kaladher who does not discount the possibility of the KLCI testing the 1650 point level during the first half of the year.

Among the finance stocks, CIMB rose 16 sen to RM7.49 and Public Bank 10 sen to RM13.80. Heavyweight Sime Darby, which was upgraded, rose 10 sen to RM10.08.

As for PLANTATION []s, NSOP added 14 sen to RM6.10, TDM 10 sen to RM4.96, Batu Kawan four sen to RM18.98, TH Plantations three sen to RM2.83 but KUALA LUMPUR KEPONG BHD [] fell 12 sen to RM23.46.

Top gainer ORIENTAL HOLDINGS BHD [] added 21 sen to RM6.70 followed by Tasek Corp which rose 19 sen to RM9.

Notable decliners include PETRONAS DAGANGAN BHD [] which fell 22 sen to RM18.12 while Kulim and MBM Resources lost eight sen each to RM4.37 and RM4.57.

Most active was THE MEDIA SHOPPE BHD [] which added 1.5 sen to 10 sen with some 45 million shares done.



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KLCI advances but broader market lacklustre

KUALA LUMPUR (March 1): Blue chips advanced in the morning session on Thursday, underpinned by gains in BAT and Sime Darby but the overall market was lacklustre as trading volume shrunk.

At 12.30pm, the FBM KLCI was up 4.73 points to 1,574.38. Turnover was 853.20 million shares done valued at RM924.78 million, reflecting the decline in retail participation. There were 269 gainers, 411 losers and 315 stocks unchanged.

Consumer-related stocks were again the top gainers. BAT rose 86 sen to RM53.06, Nestle 30 sen to RM56.10 and Guinness Anchor 28 sen to RM13.40.

Sime Darby added 20 sen to RM9.89 after posting a strong set of results in the second quarter.

Among the smaller cap stocks, Dijaya Corp rose 21 sen to RM1.63 and the warrants 14.5 sen to 64 sen.

China Stationery Ltd fell 18 sen to RM1.20 with 52.15 million shares done. This was the biggest decline since its listing last Thursday. Its offer price was 95 sen.

Silver Bird was in focus, falling 20 sen to 20.5 sen in active trade when it resumed trading.

Among the decliners were Carlsberg, down 26 sen to RM10.14, Far East 19 sen to RM7.11, NSOP 14 sen to RM5.94,BLD PLANTATION []s nine sen to RM9.14 and Kulim nine sen also to RM4.44.



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Market cautious, Sime provides lift to KLCI

KUALA LUMPUR (March 1): The broader market was cautious in late morning trade on Thursday following higher than expected losses from MAS and Proton and mixed regional markets.

However, heavyweight Sime Darby provided the lift to the FBM KLCI after its stronger set of second quarter results.

At 10.43am, the KLCI was up 4.87 points to 1,574.52. Turnover was 502.99 million shares valued at RM481.83 million. There were 226 gainers, 320 losers and 291 stocks unchanged.

Sime Darby rose 14 sen to RM9.83 with 10.80 million shares done. BAT gained 70 sen to RM52.90, GAB 26 sen to RM13.38, Petronas Dagangan 18 sen to RM18.34, Dijaya Corp 13 sen to RM1.55 and Petronas Gas 12 sen to Rm16.92.

Tecnic was the top loser, down 20 sen to RM3.81 while Silver Bird lost 17.5 sen to 23 sen and CSL 14 sen to RM1.24.

Among the PLANTATION []s, Far East lost 19 sen to RM7.11 in thin trade, NSOP 18 sen to RM5.90 and BLD Plantations 13 sen to RM9.37.



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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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Unresolved eurozone debt crisis haunts Asian markets

KUALA LUMPUR (Jan 6): Asian markets fell on Friday as Europe remained the central theme and the overhanging eurozone debt crisis kept investors on tenterhooks.

The FBM KLCI fell 4.71 points to 1,509.72 at the mid-day break, as blue chips including KLK, BAT, Petronas Gas and Maybank slipped.

Market breadth turned negative with losers beating gainers by 358 to 286, while 263 counters traded unchanged. Volume was 806.22 million shares valued at RM598.27 million.

The ringgit weakened 0.05% to 3.1525 versus the US dollar; crude palm oil futures for the third month delivery fell RM16 per tonne to RM3,173, crude oil slipped 46 cents per barrel to US$101.35 while gold added 85 cents an ounce to US$1,623.57.

Asian shares fell and the euro hovered near a 16-month low against the dollar on Friday on worries that the euro zone debt crisis is crippling European banks, with players hoping U.S. job data later in the day will help improve sentiment, according to Reuters.

At the regional markets, Japan’s Nikkei 225 fell 1.05% to 8,399.66, Hong Kong’s Hang Seng Index lost 1.4% to 18,550.37, South Korea’s Kospi was down 1.64% to 1,833.18, the Shanghai Composite Index down 0.32% to 2,141.51, Singapore’s Straits Times Index fell 0.23% to 2,706.66 and Taiwan’s Taiex shed 0.18% to 7,118.38.

On Bursa Malaysia, KLK fell RM1.02 to RM24.24 after the price surge on Thursday BAT down 36 sen to RM49.30, BHIC 20 sen to RM3.91, Tradewinds PLANTATION []s 15 sen to RM4.35, Petronas Gas and Box-Pak 10 sen each to RM14.74 and RM2.42, Parkson nine sen to RM5.47 while AIRB, Jetson and Maybank lost eight sen each to RM1.59, RM1.24 and RM8.21 respectively.

Among the gainers, Dutch Lady rose 40 sen to RM25.40, Can-One 27 sen to RM1.64, NSOP 23 sen to RM5.78, Maybulk 17 sen to RM1.71, BLD Plantations 15 sen to RM7.75, MPI 14 sen to RM2.87, KLCCP 12 sen to RM3.32 and Nestle up 10 sen to RM56.40.

Nextnation was the most actively traded counter with 43.4 million shares done. The stock rose three sen to 11.5 sen.

Other actives included Unisem, Hibiscus, XDL, Utopia, Maybulk and JCY.



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KLCI closes lower but narrows losses

KUALA LUMPUR (Dec 13): The FBM KLCI narrowed its losses on Tuesday, but investor sentiment across the region remained jittery as the Eurozone debt crisis and fear of credit downgrades in that region kept investors on the sidelines.

The FBM KLCI close 1.71 points lower at 1,465.39. The index had earlier fallen to its intra-morning low of 1,457.31.

Losers edged gainers by 386 to 344, while 315 counters traded unchanged. Volume was 1.83 billion shares valued at RM1.39 billion.

Meanwhile, European shares rose on Tuesday as investors bought up beaten-down stocks following sharp falls on Monday after a plan outlined at last week's EU summit for stricter budget rules failed to ease worries about the region's debt crisis, according to Reuters.

Gains, however, are likely to be short-lived on concern about credit downgrades after Moody's Investors Service said its ratings for all EU member states would be reviewed in the first quarter of 2012 as well as eight Spanish banks, it said.

Also, market activity is likely to be subdued ahead of the release of US retail sales for November due out later and the outcome of the Federal Reserve's FOMC meeting, though no change in U.S. interest rates is expected, it said.

At the regional markets, the Shanghai Composite Index fell 1.87% to 2,248.59, South Korea’s Kospi lost 1.88% to 1,864.06, Japan’s Nikkei was down 1.17% to 3,292.79, Taiwan’s Taiex lost 0.76% to 6,896.31, Hong Kong’s Hang Seng Index fell 0.69% to 18,447.17 and Singapore’s Straits Times Index.

On Bursa Malaysia, JobStreet was the top loser and fell 28 sen to RM2.50; PPB lost 24 sen to RM16.36, NSOP down 20 sen to RM5.36, Genting 19 sen to RM10.64, Guan Chong 15 sen to RM2.15, DKSH 14 sen to RM1.59, Sungei Bagan and Genting PLANTATION []s 13 sen each to RM2.82 and RM8.15, while MISC was down 12 sen to RM5.48.

Sanichi was the most actively traded counter with 170.3 million shares done. The stock added 5.5 sen to 23 sen.

Other actives included Utopia, Proton, warrants of MAS, BIMB, MBSB and Affin respectively.

Among the gainers, BAT added RM1.50 to RM48.70, GAB and KLK up 70 sen each to RM12.98 and RM23.10, Dutch Lady 42 sen to RM26.40, HLFG 38 sen to RM11.70, Carlsberg 31 sen to RM8.46, Orient 29 sen to RM5.30, JT International 24 sen to RM6.92, F&N 22 sen to RM18.22 and Petronas Dagangan 20 sen to RM17.38.



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NSOP advances as dividend of 24 sen per share goes ex

KUALA LUMPUR (Dec 12): Share price of NEGRI SEMBILAN OIL PALMS BHD [] (NSOP) rose on Monday as its second interim dividend of 24% or 24 sen per share went ex.

At midday, it was up 20 sen to RM5.62 with 1,000 shares done.

The FBM KLCI rose 11.72 points to 1,471.85. Turnover was 874.85 million shares valued at RM493.64 million. There were 336 gainers, 250 losers and 290 stocks unchanged.



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Banks, select blue chips lift KLCI at mid-day

KUALA LUMPUR (Dec 12): The FBM KLCI rose 0.80% at the mid-day break on Monday, in line with most key regional markets that advanced after a European leaders’ summit over the weekend offered a glimmer of hope of a solution to the eurozone debt crisis.

Analysts however said that the deal reached at the summit was not an adequate measure the address the region’s long-term debt crisis.

The FBM KLCI was up 11.72 points to 1,471.85, lifted by gains at banking stocks and select blue chips.

Gainers led losers by 336 to 250, while 290 counters traded unchanged. Volume was 874.85 million shares valued at RM493.64 million.

The ringgit weakened 0.14% to 3.1518 versus the US dollar; crude palm oil futures for the third month delivery lost RM34 per tonne to RM3,052, crude oil fell 12 cents per barrel to US$99.29 while gold slumped US$17.45 an ounce to US$1,694.15.

MIDF Research chief economist Anthony Dass in a note Monday said he was fairly sceptical over the outcome although he acknowledged that there had been progress.

However, he cautioned that there still remained inadequate satisfactory resolution over the debt crisis.

“Risk of downgrading by rating agencies remains since it did not address the increasingly shaky banks or go far enough to shore up the euro-zone battered debt markets remains.

“What turned out to be a disappointment is when ECB remains as ‘lender of last resort’ to only banks not governments,” he said.

At the regional markets, Japan’s Nikkei 225 rose 1.63% to 8,675.54, Hong Kong’s Hang Seng Index gained 1.42% to 18,850.70, South Korea’s Kospi was up 0.92% to 1,891.96, Singapore’s Straits Times Index added 0.75% to 2,714.86 and Taiwan’s Taiex edged up 0.67% to 6,939.55.

Meanwhile, the Shanghai Composite Index shed 0.45% to 2,304.80.

On Bursa Malaysia, the gainers were led by Dutch Lady that rose 98 sen to RM25.90; Nestle was up 62 sen to RM55, GAB 42 sen to RM12.42, KLK 28 sen to RM22.56, Proton 27 sen to RM4.26, Shell 21 sen to RM9.51 while PPB, NSOP and Inno gained 20 sen each to RM16.50, RM5.62 and RM1.50 respectively.

Among banks, RHB Capital rose 15 sen to RM6.95, AMMB 14 sen to RM5.88, CIMB 11 sen to RM7, Public Bank, Hong Leong Bank and HLFG added six sen each to RM12.68, RM11.54 and RM10.68 respectively, Maybank three sen to RM8.18 while Affin added two sen to RM2.81.

Decliners this morning included Lafarge Malayan Cement, APM Automotive, Quality Concrete, Tahps, Suria, Malpac, DKSH and Lingui.

The actives included Utopia, Proton, Compugates, LFE Corp, Flonic, Sersol and SYF Resources.



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KLCI firmly higher at mid-morning

KUALA LUMPUR (Dec 12): The FBM KLCI was firmly higher at mid-morning on Monday, as key regional markets steadied following European policymakers coming to a consensus towards fiscal union.

At 10am, the FBM KLCI rose 11.60 points to 1,471.73.

Gainers led losers by 294 to 96, while 195 counters traded unchanged. Volume was 344.29 million shares valued at RM158.96 million.

Regional markets advanced after twenty-six of the 27 European Union leaders on Friday agreed to pursue stricter budget rules for the single currency area and also to have euro zone states and others provide up to 200 billion euros in bilateral loans to the International Monetary Fund (IMF) to help tackle the crisis, according to Reuters.

Last week, a Reuters report that China planned a new US$300 billion vehicle to invest in Europe and the United States also buoyed investor sentiment, boosting US stocks on Friday.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.49% to 18,862.71, Japan’s Nikkei 225 added 1.32% to 8,649.36, South Korea’s Kospi gained 1.29% to 1,898.91, Taiwan’s Taiex was up 0.19% to 6,975.39, and Singapore’s Straits Times Index gained 0.90% to 2,718.83.

Meanwhile, the Shanghai Composite Index shed 0.41% to 2,305.86.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Dec 12 said the FBM KLCI lost 28.89-points and closed at 1,460.13 last Friday, adding that the local market remained negative in light of the volatile global markets.

He said a drop in the global markets (from last Monday to Friday) led to the softer sentiment for the local bourse, and that some blue chips stocks led the fall in fairly lack lustre trading.

“Although the tone of the global indices has improved somewhat, Eurozone worries on how to tame their debt crisis still persist.

“There could still be inherent and great price volatility in the next two weeks before the global markets wind-down for the Christmas and New Year holidays in late December,” he said.

On Bursa Malaysia, Nestle was the top gainer at mid-morning and rose RM1.90 to RM56.28; Dutch Lady added 58 sen to RM25.50, BAT 54 sen to RM47.84, KLK 28 sen to RM22.56, NSOP 27 sen to RM5.69, Petronas Gas 26 sen to RM14.10, while GAB, PPB, HLFG and Shell gained 20 sen each to RM12.20, RM16.50, RM11.68 and RM9.50 respectively.

Decliners included Lafarge Malayan Cement, Quality Concrete, Shangri-La, South Steel, Triplc and Ekovest, while the actives included Utopia, Compugates, SYF Resources, Flonic and Emico.



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Muted gains on KLCI at mid-morning

KUALA LUMPUR (Nov 16): The FBM KLCI pared down some of its gains at mid-morning on Wednesday, Nov 16 in line with the lackluster sentiment at most key regional markets.

Asian shares struggled on Wednesday as signs that rising borrowing costs were affecting AAA-rated France stirred fears that even core euro zone members may not escape contagion from the region's debt crisis, according to Reuters.

The FBM KLCI was up 4.93 points to 1,482.15 at mid-morning, lifted by gains at select blue chips. The index had earlier risen to a high of 1,487.37.

Gainers led losers by 309 to 159, while 237 counters traded unchanged. Volume was 603.83 million shares valued at RM291.7 million.

At the regional markets, Japan’s Nikkei 225 shed 0.03% to 8,539.07, Hong Kong’s Hang Seng Index fell 0.18% to 19,313.20, the Shanghai Composite Index lost 0.37% to 2,520.45 and Taiwan’s Taiex shed 0.10% t0 7,483.84.

Meanwhile, South Korea’s Kospi gained 1.06% to 1,906.16 and Singapore’s Straits Times Index added 0.45% to 2,824.18.

On Bursa Malaysia, Dutch Lady was the top gainer at mid-morning and rose 50 sen to RM22.30; DiGi added 46 sen to RM35.08, Proton 30 sen to RM3.51, NSOP 18 sen to RM5.49, Maybank 17 sen to RM8.44, Genting 16 sen to RM10.96, PPB and Armada 14 sen each to RM16.94 and RM3.97, while IJM Corp and TDM rose 13 sen each to RM6.14 and RM3.11.

Tiger Synergy was the most actively traded counter with 32.3 million shares done. The stock added half a sen to 14 sen.

Other actives included Asia EP, Tricubes, Systech, DPS Resources and Ingenuity Solutions.

Harvest Court, which resumed trade this morning was the top loser and fell 63 sen to RM1.50.

Other losers included BAT, Shell, Malayan Flour Mills, Petronas Chemicals, BHIC and Lafarge Malayan Cement.



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