Maybank IB Research maintains Buy on Petronas Chemicals, target price RM7.50

KUALA LUMPUR (May 10): Maybank IB Research has maintained its Buy rating on Petronas Chemicas Bhd with a target price of RM7.50 and said the company's 1Q12 results, to be released on the third week of May, was expected to be highly profitable, buoyed by high plant utilization rates of ±85% (1Q11: 83.6%) with no major maintenance shutdowns, and strong product margins.

In a note Thursday, the research house said worldwide manufacturing numbers were strong in 1Q12 which prompted heavy buying for re-stocking and inventory buildup ahead of the traditional maintenance shutdown period of March.

"BUY, with an unchanged TP of MYR7.50 on 12x 2013 PER, the industry's historical mean PER," it said.



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KLCI crosses 1,590-level as blue chips lift

KUALA LUMPUR (May 8): The FBM KLCI closed higher on Tuesday on some mild bargain hunting while regional markets ended mixed, albeit recovering from sharp decline on Monday after election results in Europe spooked investors.

The FBM KLCI rose 5.73 points to close at 1,590.60 on Tuesday, lifted by gains including at BAT, Petronas-linked counters and Genting.

Gainers beat losers by 404 to 307, while 357 counters traded unchanged. Volume was 1.27 billion shares valued at RM1.24 billion.

Uncertainty over the implications of the Greek and French elections for Europe's efforts to resolve its debt crisis sent the euro and shares lower on Tuesday and supported safe-haven German government bonds, according to Reuters.

Attention is focused on Greece where politicians are struggling to form a government after voters plunged their country into limbo in Sunday's election. The uncertainty has reignited fears its hard-fought bailout deal could unravel, forcing the country's exit from the euro, it said.

At the regional markets, the Shanghai Composite Index shed 0.12% to 2,448.88, Hong Kong’s Hang Seng index was down 0.25% to 20,484.75, while Japan’s Nikkei 225 rose 0.69% to 9,181.65, South Korea’s Kospi gained 0.54% to 1,967.01, Taiwan’s taiex added 0.10% to 7,545.71 and Singapore’s Straits Times Index.

On Bursa Malaysia, BAT and Petronas Dagangan added 52 sen each to RM55.68 and RM19.94, Tasek and Dutch Lady were up 26 sen each to RM9.29 and RM33.30, Kulim 21 sen to RM4.45, MKH 20 sen to RM2.40, GAB 18 sen to RM13.34, Ekovest 17 sen to RM2.65, Iretex 16 sen to RM1.30, Permaju 14.5 sen to 87.5 sen, Petronas Gas 14 sen to RM17, Genting 10 sen to RM10.66 and Petronas Chemicals two sen to RM6.57.

Ariantec was the most actively traded counter with 76.74 million shares done. The stock fell half a sen to 24.5 sen.

Other actives included Naim indah Corp, Compugates, Sanbumi, TMS, Harvest, Permaju, JCY and Metronic.

Decliners included Jaya Tiasa, Toyo Ink, MMHE, Lafarge Malayan Cement, Sarawak Oil Palms, JCY, Top Glove, Ibraco and IJM land.



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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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KLCI opens higher, blue chips lead

KUALA LUMPUR (May 4): The FBM opened higher on Friday, lifted by gains at select blue chips.

The FBM KLCI rose 2.96 points to 1,586.13 at 9am.

Gainers led losers by 84 to 38 while 74 counters traded unchanged. Volume was 19.99 million shares valued at RM21.55 million.

Meanwhile, global stocks and crude oil fell on Thursday after data showing tepid growth in the U.S. services sector raised concerns about the economic recovery a day before a highly anticipated labor market report for April, according to Reuters.

Stocks turned lower, government debt pared losses and the U.S. dollar trimmed gains against the yen after the Institute for Supply Management said its services sector index fell to 53.5 in April from 56.0 the previous month, it said.

U.S. stocks fell on Thursday as economic data sent mixed signals on the recovery a day before the April payrolls report, while shares of Green Mountain plunged after poor results.

Slower-than-expected growth in the dominant U.S. services sector drove the day's trading. The retail sector dragged the market lower after several chains, including Target Corp and Gap Inc, fell after missing April sales estimates.

MIDF Research in a note Friday said bot its own and consensus FBM KLCI earnings growth for this year were expected to be at around mid-teens, i.e. 16.2% and 16.6% respectively, supported by (i) decent organic earnings growth performance, as well as (ii) absence of lumpy abnormal losses.

“Furthermore, we believe the current liquidity-driven rally has not yet ended despite recent difficulty of the KLCI to sustain itself above the 1,600 points levels,” it said.

The research house said that with the risk-on mood still prevailing on Wall Street, as attested by the main benchmark which is stealthily approaching its pre-2008 highs, it may eventually help the markets in this region to resume their upward momentum.

“Hence we expect to see further upside to the local market with an “encore rally” in the coming months.

“We reiterate both our year-high as well as year-end 2012 KLCI base case targets of 1,670 points and 1,600 points respectively,” it said.

On Bursa Malaysia, Aeon led the gainers and rose 40 sen to RM10.20, Petronas Dagangan and Top Glove gained 20 sen each to RM19.50 and RM4.70, Orient 12 sen to RM6.80, Petronas Chemicals 10 sen RM6.65, Genting eight sen to RM10.58, Lafarge Malayan Cement and MMC Corp up sen each to RM7.39 and RM2.78, and KLK six sen to RM23.78.



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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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RHB Research Overweight on oil & gas sector

KUALA LUMPUR (April 6): RHB Research Institute Sdn Bhd has an Overweight rating on the oil and gas sector and said it was positive on the sector following Petroliam Nasional Bhd’s (Petronas) statement on April 5 that the proposed Refinery and Petrochemical Integrated Development (RAPID) project, to be located in Pengerang, Johor, was progressing as scheduled.

The research house said on Friday that the statement was the closest indication yet that the RAPID would proceed as planned.

According to Petronas, the RAPID project in Pengerang, Johor is progressing as scheduled, with pre-qualification exercise for the various tender packages likely to begin in stages from the 3Q2012 at the earliest. The project is currently in the front-end engineering design

“The key beneficiaries of RAPID include Dialog (as RAPID will complement its crude oil tank terminal, and provide opportunities for its plant maintenance business) and Petronas Chemicals, which will most likely be involved as owner/operator.

“The two stocks are our top picks for the sector,” it said.

RHB Research has an outperform rating on both Dialog and Petronas Chemicals, with fair values of RM3.08 and RM7.73 respectively.



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KLCI edges higher in early trade

KUALA LIMPUR (March 30): The FBM KLCI trended higher in early trade on Friday, lifted by select blue chips including Petronas-linked stocks and index-linked PLANTATION [] counters.

At 9.05am, The FBM KLCI was up 4.17 points to 1,589.61.

Gainers led losers by 96 to 49, while 115 counters traded unchanged. Volume was 67.54 million share valued at RM23.14 million.

Among the gainers, BAT rose 28 sen to RM56.80, SapuraCrest 11 sen to RM4.91, Tradewinds nine sen to RM9.72, IOI Corp and PPB eight sen each to RM5.35 and RM16.88, Petronas gas six sen to RM16.80, while Petronas Chemicals, MMCCOrp, Maxis and Keck Seng added five sen each to RM6.73, RM2.85, RM6.05 and RM4.10 respectively.

Decliners included Dutch Lady, Utusan Malaysia, Genting, MMHE, Ewei, AFG, Astino, petronas Dagangan and Carotech.

Carotech was the most actively traded counter with 10.43 million shares done. The stosk fell two sen to 3 sen.

Other actives included Trinity, TMS, Ariantec, IFCA MSC, Caley, Nextnation and Winsun.



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KLCI edges up mid-day, lifted by select blue chips

KUALA LUMPUR (March 29): The FBM KLCI edged up at the mid-day break on Thursday, lifted by select blue chips including CIMB, Genting-linked counters, Petronas Chemicals and BAT.

At 12.30pm, the KLCI was up 0.41% to 1,584.16. Gainers trailed losers by 197 to 388, while 318 counters were traded unchanged. Volume was 819.28 million shares valued at RM554.24 million.

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.

Hong Kong’s Hang Seng Index lost 1.2% to 20,634.30, Taiwan’s Taiex fell 2.67% to 7,823.78, South Korea’s Kospi fell 1.06% to 2,010.26, Japan’s Nikkei 225 was down 0.82% to 10,099.30, the Shanghai Composite Index 0.58% to 2,271.60 and Singapore’s Straits Times Index 0.28% to 3,007.44.

Among the gainers on Bursa Malaysia, Dutch Lady was the top gainer, up RM2.62 to RM37.50.

BAT added 18 sen to RM56.52, Aeon 14 sen to RM9.35, Toyo Ink 14 sen to RM9.35, MISC 12 sen to RM5.32 and Shell 10 sen to RM10.20. Southern Acids, Kulim, Ta Ann and Crescesndo added nine sen each to RM2.39, RM4.30, RM6.18 and RM1.90 respectively.

CIMB rose seven sen to RM7.57, while Petronas Chemicals, Genting and Genting PLANTATION []s added two sen each to RM6.70, RM11.12 and RM3.89 respectively.

Naim Indah Corp was the most actively traded counter with 56.7 million shares done. The stock added half a sen to 48.5 sen.

Other actives included Ariantec, Focus, SuperComnet, Metronic, Key West and Iris Corp.

Among the decliners were Shangri-la, BLD Plantations, GAB, Sungei Bagan, RHB Capital, SMPC, PPB, SBC Corp and Kris Assets.



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CIMB Research has technical sell on Petronas Chemicals at RM6.71

KUALA LUMPUR (March 21): CIMB Equities Research has a technical sell on Petronas Chemicals at RM6.71 at which it is trading at a FY13 price-to-earnings of 9.7 times and price-to-book of 2.7 times.

It said on Wednesday that Petronas Chemicals violated its uptrend channel few days ago.

“Currently, it is a tad below its 50-day SMA. If this candles fail to swing back above this key moving average soon, we expect next downleg to drag prices back towards RM6.38 and RM5.97. The 200-day SMA is also a magnet for prices,” it said.

CIMB Research said the technical landscape remains weak. MACD signal line is falling towards the negative territory while RSI has also hooked downward.

“As long as the candles stay below its 30-day SMA, we think the odds continue to favour the bears. Prices are likely capped at RM6.79-RM6.85 in the near term. Put a buy stop at RM7.00, just in case,” it said.



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KL shares mixed at midafternoon

Share prices on Bursa Malaysia were mixed at mid-afternoon today but at 3.01pm the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.56 points better at 1,572.96, dealers said.

Sentiment remained cautious over the weaker-than-expected US economic data recently.

The US bourses were mixed but little changed and the Asian markets were expected to follow the latter's lead, a dealer said.

The Finance Index eased 17.32 points to 14,175.33 but the Plantation Index rose 20.62 points to 8,596.81 and the Industrial Index added 22.68 points to 2,838.41.

The FBM Emas Index advanced 6.03 points to 10,851.86, while the FBM Mid 70 Index shed 9.96 points to 12,135.65 and the FBM ACE Index slipped 23.75 points to 4,641.01.

Losers led gainers 380 to 279 while 311 counters were unchanged and 19 untraded.

Trading volume stood at 1.16 billion shares valued at RM794.375 million.

Among active stocks, Ariantec Global added 2.5 sen to 12 sen, Pan Malaysian earned half a sen to 5.5 sen, IFCA MSC advanced one sen to 12.5 sen while Metronic Global was flat at 12.5 sen.

Among heavyweights, Maybank lost eight sen to RM8.73, CIMB eased two sen to RM7.64, Petronas Chemicals shed four sen to RM6.72 while Sime Darby was flat at RM9.75. -- Bernama



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KL shares mixed at mid-day

Share prices on Bursa Malaysia trended mixed at midday today in line with the uncertain movement in regional markets, dealers said.

At 12.30pm, the FBM KLCI was 2.32 points higher at 1,573.72, after opening 2.9 points higher at 1,574.3. A dealer said investors were cautious after the weaker-than-expected US economic data recently.

"Unexpected weakness in consumer sentiment adds to the overall caution," he said.

The Finance Index eased 2.47 points to 14,190.18 but the Plantation Index rose 20.42 points to 8,596.61 and the Industrial Index added 16.72 points to 2,832.45.

The FBM Emas Index advanced 12.55 points to 10,858.38, the FBM Mid 70 Index earned 4.86 points to 12,150.47 while the FBM ACE Index slipped 15.76 points to 4,649.

Losers led gainers 363 to 265 while 287 counters were unchanged and 21 untraded. Trading volume stood at 1.05 billion shares valued at RM658.48 million.

Among active stocks, Ariantec Global added 2.5 sen to 12 sen while Pan Malaysian, Metronic Global and IFCA MSC earned half a sen each to 5.5 sen, 13 sen and 12 sen respectively.

Among heavyweights, Maybank lost seven sen to RM8.74, CIMB eased two sen to RM7.64, Petronas Chemicals shed four sen to RM6.72 while Sime Darby was flat at RM9.75. -- Bernama



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KL shares open higher on technical rebound

Share prices on Bursa Malaysia opened firmer today on technical rebound after tumbling in the final few minutes of trading on Friday for a daily loss of eight points.

Nineteen minutes after the opening bell, the FBM KLCI stood at 1,577.32, up 5.92 points. It had opened 2.9 points higher at 1,574.3. HwangDBS Vickers Research said there was no strong market lead coming in from abroad last week.

"Major US equity indices were little changed on Friday as Wall Street was in a consolidation mode," it said in a research note.

The global forecast for the Asian markets is flat with a hint of negativity in response to weaker-than-expected economic data from the US.

On Bursa Malaysia, the Finance Index advanced 47.53 points to 14,240.18, the Plantation Index added 6.24 points to 8,582.43 and the Industrial Index up 15.24 points to 2,830.97.

The FBM Emas Index climbed 37.6 points to 10,883.43, the FBM Mid 70 Index surged 35.79 points to 12,181.4 and the FBM ACE Index edged up 20.48 points to 4,685.24.

Gainers outnumbered losers 162 to 59, while 134 counters were unchanged, 1,138 untraded and 21 suspended. Volume stood at 213.596 million worth RM55.49 million.

Among active counters, Ariantec Global earned two sen to 11.5 sen, Pan Malaysia added half a sen to 5.5 sen while Metronic Global eased half a sen to 12 sen.

For heavyweights, Maybank unchanged at RM8.81, Sime Darby earned four sen to RM9.79, CIMB rose three sen to RM7.69 and Petronas Chemicals increased two sen to RM6.78. -- Bernama



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Finance stocks lift FBM KLCI

Finance stocks lifted share prices on Bursa Malaysia which ended the morning session steady today and in line with regional markets, dealers said.

The dealers also said the local market was supported by the overnight gains on Wall Street.

At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.95 of a point to 1,580.33. It had opened 1.1 point higher at 1,580.48.

The dealers said buying sentiment was boosted on improved confidence in the growth outlook of the United States but investors remained cautious on concerns over China's economic progress.

The Finance Index jumped 63.1 points to 14,237.04, the Plantation Index eased 39.75 points to 8,574.21 and the Industrial Index increased marginally, 0.08 of a point, to 2,845.41

The FBM Emas Index improved 11.12 points to 10,895.63, the FBM Mid 70 Index added 26.811 points to 10,895.63 and the FBM Ace Index gained 56.7 points to 4,626.48.

Market breadth was positive with 329 advancers to 286 losers while 342 other counters were unchanged and 22 others suspended.

Trading volume stood at 1.375 billion shares valued at RM726.664 million.

Among the active stocks, Metronic Global added 4.5 sen to 12.5 sen, Ariantec Global edged up three sen to 8.0 sen and I-Power perked one sen to 6.5 sen.

Bursa Malaysia issued an unusual market activity query to Metronic Global Bhd today over the sharp increase in price and high volume of the company's shares.

Meanwhile, trading in the shares of Mega first Corp Bhd and its 60.43 per cent subsidiary, Rock Chemicals Industry (M) Bhd, was suspended from 9am-5pm today, at the request of both companies in separate statements to Bursa Malaysia.

Among the heavyweights, Maybank rose six sen to RM8.82, Sime Darby earned four sen to RM9.75, CIMB went up eight sen to RM7.65 and Petronas Chemicals inched up one sen to RM6.78. -- Bernama



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Market Commentary

The FBM KLCI index gained 11.69 points or 0.75% on Wednesday. The Finance Index increased 0.53% to 14082.29 points, the Properties Index up 0.18% to 1039.21 points and the Plantation Index rose 0.18% to 8611.44 points. The market traded within a range of 7.30 points between an intra-day high of 1575.71 and a low of 1568.41 during the session.

Actively traded stocks include NICORP, CSL, YTL, TIGER, HWGB, EURO, AXIATA, SIME, ASUPREM and SILVER. Trading volume increased to 1273.33 mil shares worth RM1844.76 mil as compared to Tuesday’s 1163.12 mil shares worth RM1471.04 mil.

Leading Movers were CIMB (+14 sen to RM7.40), TENAGA (+15 sen to RM6.47), AXIATA (+6 sen to RM5.12), PETGAS (+48 sen to RM16.98) and PETCHEM (+8 sen to RM6.78). Lagging Movers were DIGI (-5 sen to RM3.95), YTLPOWR (-2 sen to RM1.77), HLBANK (-4 sen to RM12.06) and MMHE (-1 sen to RM5.35). Market breadth was positive with 444 gainers as compared to 334 losers. -- JF Apex Securities Bhd



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KLCI stays in the black at mid-day

KUALA LUMPUR (March 13): The FBM KLCI stayed in positive territory at the mid-day break on Tuesday, in line with the modest gains at key regional markets.

The FBM KLCI was up 2.24 points to 1,566.99 at the mid-day break. However, the broader market turned weaker with losers overtaking gainers by 355 to 241, while 246 counters traded unchanged. Volume was 484.42 million shares valued at RM528.11 million.

The ringgit strengthened 0.28% to 3.0233 versus the US dollar; crude palm oil futures for the third month delivery rose RM28 to RM3,348 per tonne, US light crude oil added 59 cents per barrel to US$106.93, while gold gained US$2.18 an ounce to US$1,703.50.

Meanwhile, Asian stocks rose to their highest in a week, while the dollar hovered below an 11-month high against the yen on Tuesday, supported by recent signs of improvement in the U.S. economy, ahead of a policy decision by the Federal Reserve, according to Reuters.

Bank of Japan's policy meeting, which began on Monday, will also remain in focus. The bank is expected to hold rates as the economic outlook and risks have not changed much since its last meeting nearly a month ago, it said.

A the regional markets, Japan’s Nikkei 225 gained 0.40% to 9,889.86, Hong Kong’s Hang Seng Index added 0.23% to 21,134.10 and the Singapore Straits Times Indx0.11% to 2,966.55.

However, the Shanghai Composite Index shed 0.19% to 2,434.86, Taiwan’s Taiex fell 1.10% to 7,927.55 and South Korea’s Kospi was down 0.78% To 2,002.50.

BIMB Securities Research in a note on Tuesday said investors would remain sidelined attributed to the lack of fresh catalysts especially after the 14 point decline on the KLCI on Monday.

Now that a Greece tragedy has been averted, attention will now be fixed on the fundamentals and economic progress of both the US and Eurozone, it said.

Following the rather sharp 14 point decline to just below the 1,565 support level on Monday, BIMB Research said it had expected some reversal on Tuesday and that the KLCI might test the immediate 1,570.

On Bursa Malayasia, BAT was the top gainer and rose 80 sen to RM52.80, TAHP 20 sen to RM5, Tradewinds PLANTATION []s 16 sen to RM4.71, Manulife, Sin Heng Chan and Petronas Chemicals rose 13 sen each to RM3.52, RM93.5 sen and RM6.69 respectively, GAB eight sen to RM13.38 and TSH seven to RM2.26.

Naim Indah Corp was the most active with 68.9 million shares done. The stock fell half a sen to 72 sen.

Other actives included Winsun, YTL, Takaso, Tiger Synergy, XDL, Sanichi, Sumatec and HWGB.

Decliners included Nestle, Theta warrants, Allianz warrants, United Plantations, MISC, Shell, Orient, BLD Plantations, Tradewinds and Southern Steel.



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KLCI drifts higher at mid-morning

KUALA LUMPUR (March 13): The FBM KLCI drifted slightly higher, lifted by select blue chips at mid-morning on Tuesday in line with the limited gains at key regional markets.

Meanwhile, at the regional markets most market players were on the sidelines awaiting the outcome of a Federal Open Market Committee meeting later in the day, according to Reuters.

The FBM KLCI added 2.47 points to 1,567.22 at 10.05am. Gainers led losers by 198 to 187, while 276 counters traded unchanged. Volume was 252.62 million shares valued at RM166.43 million.

At the regional markets, Japan’s Nikkei 225 rose 1.14% to 10,002.90, Hong KONG’s Hang Seng Index added 0.77% To 21,297.40, the Shanghai Composite Index edged up 0.05% to 2,436.08, Taiwan’s Taiex gained 0.82% to 7,992.51, South Korea’s Kospi was up 1.15% to 2,025.52 and Singapore’s Straits Times Index added 0.52% to 2,977.65.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients said the resistance areas of the KLCI at 1,564 and 1,583 would cap market gains, whilst the weaker support areas were at 1,540 and 1,559.

“Despite the US markets’ rebound last night, we could be in for a weaker day locally,” he said. The KLCI fell 14.25 points to close at 1,564.75 on Monday.

On Bursa Malaysia, BAT was the top gainer, up 40 sen to RM52.40, Ekovest added 15 sen to RM2.75, Sin Heng Chan gained 13.5 sen to 94 sen, LPI Capital 10 sen to RM13.66 and Tradewinds PLANTATION []s nine sen to RM4,64.

Petronas Chemicals and GAB up eight sen each to RM6.64 and RM13.38, Vintage 7.5 sen to 13 sen, Axiata six sen to RM5.10 while Hoover added five sen to 36 sen.

Naim Indah Corp was the most active with 52.94 million shares done. The stock fell half a sen to 72 sen.

Other actives included Winsun, Takason, Tiger Synergy, XDL, Sanichi and Sumatec.

Decliners included Theta warrants, Allianz warrants, UAC, MISC, Carlsberg, tradewinds, Johore Tin, BLD Plantations, AMMB and Hong Leong Bank.



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KLCI closes 14pts down, Petronas-linked stocks, Sime weigh

KUALA LUMPUR (March 12): Losses at key blue chips including Petronas-linked counters, Sime Darby, banking and PLANTATION []-related stocks dragged the FBM KLCI 0.09% lower on Monday as data showed Malaysia’s industrial production index (IPI) grew at the slowest pace in six months.

The IPI increased 0.2% in January due to slower growth in the manufacturing and electricity output while the mining component contracted by a larger quantum, when compared to December 2011’s IPI on-year growth of 2.9%.

The FBM KLCI fell 14.25 points to close at 1,564.75. Losers beat gainers by 516 to 260, while 318 counters traded unchanged. Volume was 1.27 billion shares valued at RM1.72 billion.

Regional markets retreated as weak Chinese exports raised fears about global demand and offset the support provided by a better outlook for the U.S. economy and Middle East supply concerns.

Japan’s Nikkei 225 fell 0.40% to 9,889.86, the Shanghai Composite Index lost 0.19% to 2,434.86, Taiwan’s Taiex lost 1.10% to 7,927.55, south Korea’s Kospi lost 0.78% to 2,002.50 and Singapore’s Straits Times Index shed 0.11% to 2,966.45, while Hong Kong’s Hang Seng Index added 0.23% to 21,134.10.

Meanwhile, European stocks fell slightly on Monday, halting a sharp three-day rally as last week's strong U.S. jobs data dampens expectation of further stimulus from the U.S. Federal Reserve, which holds its latest meeting this week, according to Reuters.

On Bursa Malaysia, decliners included Petronas Chemicals that fell 28 sen to RM6.56, Petronas Gas down 20 sen to RM16.50, Jaya Tiasa 18 sen to RM7.42.

Sime Darby, KLK and PPB fell 16 sen each to RM9.69, RM23.24 and RM16.72 respectively. APM lost 15 sen to RM4.48 and Telekom Malaysia declined 13 sen to RM5.10.

Naim Indah Corp was the most active with 229.13 million shares done. The stock rose eight sen to 72.5 sen.

Other actives included HWGB, Winsun, Sime Darby, Telekom, HLS Corp, MTronic, Iris CorpORP and Key West.

Meanwhile, gainers included Tecnic, Bonia, Ibraco, Mudajaya, PIE, MBM Resources, Dutch Lady and AEON.



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KLCI extends loss at mid-day break, falls more than 10 points

KUALA LUMPUR (March 12): The FBM KLCI extended its losses at the mid-day break on Monday in line with the mixed regional markets.

The index fell 10.81 points to 1,568.19, weighed by losses at select blue chips including sime Darby, Petronas Dagangan, PPB, KLK and Petronas Chemicals.

Market breadth turned negative with losers overtaking gainers by 409 to 212 while 313 counters traded unchanged. Volume was 684.81 million shares valued at RM755.83 million.

The ringgit weakened 0.64% to 3.0266 versus the US dollar; crude palm oil futures for the third month delivery fell RM1 per tonne to RM3,333, crude oil fell 56 cents per barrel to US$106.84, while gold lost US7.90 an ounce to US$1,705.75.

At the regional markets, Japan’s Nikkei gained 0.29% to 9,958.35, the Shanghai Composite Index added 0.239% to 2,429.93, while South Korea’s Kospi fell 0.62% to 2,005.41, Taiwan’s Taiex lost 0.40% to 7,984.34, the Shanghai Composite Index was down 0.39% to 2,429.93, and Singapore’s Straits Times Index was down 0.14% to 2,967.41.

Among the decliners this morning, The Store fell 24 sen to RM2.16, Rapid lost 22 sen to RM2.28, Petronas Gas and Hong Leong down 20 sen each to RM16.50 and RM12.08, Sime Darby lost 19 sen to RM9.66, while APM, PPB, KLK and Petronas Chemicals down 18 sen each to RM4.45, RM16.70, RM23.22 and RM6.66 respectively.

Naim Indah Corp was the most actively traded counter with 145.9 million shares done. The stock added seven sen to 71.5 sen.

Other actives included HGWB, HLS Corp, MTonic, Key West, Winsun, Iris Corp, Sime Darby and Systech.

Meanwhile, the gainers included Ekovest, Tecnic, Nice, BAT, P.I.E,. Tradewinds Plantations, MBM Resources,Batu Kawan and Eng Kah.



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KLCI falls below 1,570-level, down nearly 10 points

KUALALUMPUR (March 12): losses at blue chips including Petronas Gas, KLK, Sime Darby and Petronas Chemicals dragged the FBM KLCI below the 1,57—point level at late morning on Monday.

The 30-stock index fell 9.28 points to 1,569.72 at 11.58am.

Losers overtook gainers by 386 to 214, whiel 301 counters traded unchanged. Volume was 630 .69 million shares valued at RM647.94 million.

Among the decliners, The Store fell 24 sen to RM2.16, Rapid, Hong Leong bank and Petronas Gas lost 20 sen each to RM2.28, RM12.08 and RM16.50 respectively, APM Automotive and KLK fell 18 sen each to RM4.45 and RM23.22, PPB and Sime Darby down 16 sen each to RM16.72 and RM9.69, while Petronas Chemicals lost 14 sen to RM6.70.



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KLCI pauses in line with regional markets

KUALA LUMPUR (March 12): The FBM KLCI slipped at mid-morning on Monday in line with the cautious sentiment at most regional markets.

Asian shares fell on Monday as investors paused to assess the effect of strong U.S. jobs data, which scaled back expectations for more easing ahead of this week's Federal Reserve meeting, while concerns over China's slowdown also weighed on sentiment, according to Reuters.

The FBM KLCI shed 0.90 of a point to 1,578.10 at 10am, weighed by losses at select blue chips.

Gainers led losers by 219 to 165, while 221 counters traded unchanged. Volume was 310.96 million shares valued at RM194.03 million.

At the regional markets, Japan’s Nikkei 225 was up 0.25% to 9,955.00, Hong Kong’s Hang Seng Index edged up 0.01% to 21,087.90, the Shanghai Composite Index added 0.09% to 2,437.29, , and Singapore’s Straits Times Index added 0.15% to 2,967.70, while South Korea’s Kospi fell 0.40% to 2,010.20, Taiwan’s Taiex was down 0.07% to 8,010.31.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Monday said The FBM KLCI lost 4.78 points and closed at 1,579.00 last Friday.

The weaker support areas for the FBM KLCI are in the 1,530 to 1,572 zone, he said.

“The next resistance levels of 1,579 and 1,597 may see heavy liquidation activities,” he said.

On Bursa Malaysia, decliners at mid-morning included Sunchirin that fell eight sen to RM1.40, Petronas Chemicals down sevens sen to RM6.77. Media Prima, KLK and Kulim lost six sen each to RM2.65, RM23.34 and RM4.20 respectively, whiel Bursa and Public Bankl fell four sen each to RM7.38 and RM13.70,

Naim Indah Corp was the most actively traded counter with 83.4 million shares done. The stock added six sen to 70.5 sen.

Other actives included HLS Corp, HWGB,Key West, and Hubline.

Gainers included Petrol One that rose 30 sen to RM1.15, Ekovest up 21 sen to RM2.78. Nice 15.5 sen to 51 sen, Tecnic 15 sen to RM3.85, Lafarge Malayan Cement and Bonia 12 sen each to RM7.37 and RM2.64, P.I.E 11 sen to RM4.75, UMW 10 aen to RM7.30 and NWP eight sen to 24 sen.



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