KLCI succumbs to global economic woes

KUALA LUMPUR (APRIL 17): The FBM KLCI succumbed to the mounting concerns over the euro zone sovereign debt crisis that kept most regional markets in negative territory on Tuesday.

The FBM KLCI closed 1.32 points lower at 1,596.19.

Gainers edged losers by 355 to 341, while 351 counters traded unchanged. Volume was 2.08 billion shares valued at RM1.63 billion.

Hong Kong shares fell on Tuesday, dragged lower by large-cap bank and materials shares as nervous investors awaited a bond auction which could see a further jump in Spain's borrowing costs, threatening a new crisis in the euro zone, according to Reuters.

On the mainland, the Shanghai Composite fell 0.94% to 2,334.98, while the CSI300 index was off 1.3 percent, it said.

Elsewhere, Hong Kong’s Hang Seng Index fell 0.23% tyo 20,562.31, Japan’s Nikkei 225 shed 0.06% to 9,464.71, Taiwan’s taiex lost 1.86% to 7,585.87, South Korea’s Kospi down 0.37% to 1,985.30 and Singapore’s Straits Times Index shed 0.18% to 2,986.59.

Among the decliners on Bursa Malaysia, Dutch Lady fell 56 sen to RM34.60, Warisan down 30 sen to RM2.33, Tahps fell 27 sen to RM4.53, BAT lost 22 sen to RM54.46, SMPC 21 sen to RM1.12, MISC 13 sen to RM5.17, while KLuang and Ta Ann fell 12 sen each to RM2.68 and RM6.57.

Ariantec Global was the most actively traded counter with 515.66 million shares done. The stock jumped 8.5 sen to 20 sen. It had earlier been issued an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd to Ariantec Global Bhd over the sharp rise in the price and high volume in the company’s shares recently.

Other actives included Metronic, Focus, Astral Supreme, Ingenuity Solutions, SuperComNet, CSL, Naim Indah Corp and Winsun.

Meanwhile, the gainers on Tuesday included SAM Engineering, Carlsberg, CSL, Subur Tiasa, Y&G, Golsta, Southern Acids, Rapid, Manulife and The Store.



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SMPC rights shares hit limit-down

KUALA LUMPUR (April 17) : Securities of SMPC Corp Bhd were among the most actively-traded and major decliners on the maiden trading day of the steel manufacturer’s rights units on Tuesday. The stock went ex-rights last Thursday.

SMPC’s rights issue of new shares (SMPC-OR) fell as much as 61% or 30 sen to settle at 19.5 sen at lunch break while the irredeemable convertible unsecured loan stocks (ICULS) which are traded as SMPC-LR fell as much as 90% or 4.4 sen to settle at 0.5 sen.

Meanwhile, SMPC shares declined as much as 26% to 98 sen before settling higher at RM1.08.

SMPC is undertaking a renounceable rights issue of up to 19.39 million new shares with 9.7 million free warrants on the basis of six rights units and three warrants for every two existing shares held.

The company is also implementing a renounceable rights issue of up to RM19.39 million worth of zero-coupon, 10-year ICULS with 9.7 million free warrants on the basis of RM6 worth of ICULS and three warrants for every two existing shares held.

In conjunction with the rights issue, SMPC implemented a capital reduction where it cancelled 90 sen from each existing share of RM1 and, subsequently, consolidated 10 units of 10 sen shares into one share of RM1.



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KLCI struggles to breach 1,600-mark

KUALA LUMPUR (APRIL 17): The FBM KLCI stayed in positive territory in the morning session on Tuesday, but struggled to breach the 1,600-point mark as regional markets mostly retreated on mounting concerns over the euro zone sovereign debt crisis.

Asian shares were capped while the euro fell on Tuesday, as soaring Spanish borrowing costs underscored the fading impact of the European Central Bank's bond purchases and stoked investor nervousness over euro zone debt woes, according to Reuters.

The FBM KLCI was up 0.69 of a point to 1,598.20 at the mid-day break.

Gainers trailed losers by 283 to 278, while 322 counters traded unchanged. Volume was 1.2 billion shares valued at RM669.23 million.

The ringgit strengthened 0.03% to 3.0665 versus the greenback, crude palm oil futures for the third month delivery fell RM2 per tonne to RM3,485, crude oil was unchanged at US$102.93 per barrel while gold fell US$2.63 an ounce to US$1,649.25.

At the regional markets, Japan’s Nikkei 225 edged up 0.11% top 9,480.84 while Taiwan’s Taiex fell 1.61% to 7,605.13, Hong Kong’s hang Seng Index lost 0.58% to 20,490.90, Singapore’s Straits Times Index was down 0.39% to 2,980.57, South Korea’s Kospi shed 0.30% to 1,986.75 and the Shanghai Composite Index inched down 0.18% to 2,352.72.

Mybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients on Tuesday said the FBM KLCI dropped 5.61 points to close at 1,597.51 on Monday.

“Its resistance areas of 1,597 and 1,609 may cap market gains, whilst the obvious support areas are located at 1,580 and 1,594,’ he said.

He said despite the US markets’ mixed tone last night, Bursa Malaysia could be in for a low-volume trading day.

“From the 1,310.53 low (Sept 2011), the market has surged past its previous resistance of 1,597.08 to stall at 1,600.33 (On April 3).

“Bearish divergence is ample and investors may liquidate on rallies,” he said.

SAM Engineering was the top gainer in the morning session and rose 41 sen to RM3.60, Hartalega added 16 sen to RM8.12, CSL 14 sen to RM1.62, Far East and Subur Tiasa gained 10 sen each to RM7.60 and RM2.73, Rapid nine sen to RM2.54, Carlsberg eight sen to RM10.90, MBSB and Lafarge Malayan Cement gained seven sen each to RM2.23 and RM7.29, while Golsta was up 6.5 sen to 59.5 sen.

Among the decliners, Dutch Lady fell 46 sen to RM23.70, SMPC fell 25 sen to RM1.08, Nestle down 16 sen to RM55.84, Sarawak Oil Palms lost 13 sen to RM6.81, Iretex 12 sen to RM1, Knusford and Bintulu Port fell 10 sen each to RM1.80 and RM6.90, while MalPac and Ta Ann lost nine sen each to RM1.49 and RM6.60.

Ariantec was the most actively traded counter with 315.47 million shares done. The stock rose 5.5 sen to 17 sen.

Other actives included Metronic, Focus, Ingenuity Solutions, SuperComNet, Naim Indah Corp and JCY.



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Tenaga, blue chips lift KLCI

KUALA LUMPUR (April 12): The FBM KLCI closed higher on Thursday, lifted by gains at blue chips including Tenaga, Genting PLANTATION []s and Petronas Dagangan.

The FBM KLCI gained 4.10 points to close at 1,601.27.

Losers edged gainers by 366 to 360, while 321 counters traded unchanged. Volume was 1.11 billion shares valued at RM1.60 billion.

At the regional markets, most of the bourses reversed earlier losses as the Shanghai Composite Index rose more than 1.8%.

Meanwhile, Hong Kong shares rose on Thursday lifted by the rally in mainland markets on the back of reports of proposals to boost economic development in Shenzen as well as optimism of easier monetary policy following GDP data due later in the week, according to Reuters.

The euro neared a one-week high against the dollar and European bond markets steadied on Thursday as investors awaited an Italian debt sale that will show whether concerns over Spain are spreading to other debt-laden euro zone nations, it said.

At the regional markets, the Shanghai Composite Index rose 1.82% to 2,350.86, Hong Kong’s Hang Seng Index added 0.93% to 20,327.32,Japan’s Nikkei 225 gained 0.70% to 9.524.79, Taiwan’s Taiex edged up 0.08% to 7,662.92, whiel South Korea’s Kospi fell 0.39% to 1,986.63.

On Bursa Malaysia, Jaya Tiasa was the top gainer and rose 44 sen to RM8.99, SMPC up 34 sen to RM1.48, Tradewinds Plantations gained 19 sen to RM5.90, Cybertowers and Sarawak Oil Palms up 16 sen each to 75 sen and RM6.88, Genting Plantations and Brahims 15 sen each to RM9.67 and RM1.33, while Tenaga, Bat and United Plantations rose 14 sen each to RM6.51, RM54.84 and RM24.90 respectively.

Among the decliners, Warisan fell 30 sen to RM2.20, GAB down 22 sen to RM12.64, KLK 18 sen to RM24.32, BLD Plantations 16 sen to RM9.23, Panasonic, Manulife, Top Glove and LPI down 12 sen each to RM21.50, RM3.25, RM4.20 and RM13.80 respectively, RHB Capital fell 11 sen to RM7.36 and Shangri-La lost 10 sen to RM2.98.

The actives included JCY, Tiger Synergy, Asia Bio, Metronic, Ariantec and CSL.



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KLCI reverses earlier loss, breaches 1,600-level at mid-day break

KUALA LUMPUR (April 12): The FBM KLCI reversed its earlier losses and breached the 1,600-point level at the mid-day break on Thursday, as regional markets turned positive as well.

The FBM KLCI added 0.24% or 3.76 points to 1,600.93 at the mid-day break, lifted by gains at select blue chips.

Gainers trailed losers by 267 to 302, while 308 counters traded unchanged. Volume was 553.07 million shares valued at RM574.19 million.

Asian shares eked out small gains and the euro steadied on Thursday, reflecting investor caution over sovereign funding for troubled eurozone economies Spain and Italy, despite their declining yields that helped global equities rebound overnight, according to Reuters.

An encouraging start to the earnings season helped US stocks snap a five-day losing streak, spurring investors to scale back safe haven buying of gold and US and German government debt on Wednesday, but further selling of these perceived safe assets weakened in Asia on Thursday, its aid.

At the regional markets, the Shanghai Composite Inded added 0.40% to 2,318.16, Hong Kong's Hang Seng Index rose 0.36% to 20,212.83, Japan's Nikkei 225 gained 0.29% to 9,.485.52, Taiwan's Taiex edged up 0.04% to 7,659.70, Singapore's Straits Times Index rose 0.58% to 2,963.29 while South Korea's Kospi shed 0.90% to 1,976.83.

BIMB Securities Research in a note Thursday said that buoyed by Alcoa's better than expected earnings for the 1Q12 plus easing concerns over Europe, investors became less edgy thus the 89 points gain for the Dow Jones Industrial Average to surpass the 12,800 level.

The research house However said it still detected a hint of skepticism as Wall Street closed 40 points off its intra-day high.

As for Europe, successful sale of bonds by Germany, Italy and Spain had allayed fears of a deepening crisis, it said.

In response to indications of more bond purchases, yields for both Italy and Spain declined hence pushed European bourses all higher.

It was a rather mixed day for Asian markets as most are still coping with indications from both the US and Europe.

"Malaysia was closed for public holiday (on Wednesday) after another interesting day on Tuesday with the FBM KLCI adding almost 6 points to inch closer to 1,600 again.

"We reckon buying on the local bourse to persist supporting any weaknesses. Today, we may see the 1,600 mark to be breached again," it said.

On Bursa Malaysia, BAT was the top gainer in the morning session and rose 86 sen to RM55.56, SMPC 34 sen to RM1.48, Genting PLANTATION []s up 21 sen to RM9.73, Timwell up 14 sen to 95 sen, Tradewinds Plantations up 12 sen to RM5.83, CyberTowers up 11.5 sen to 70.5 sen, MSC up 11 sen to RM4.72, Kluang up 10 sen to RM2.90, while Tenaga and Advanced Packaging added nine sen each to RM6.46 and RM1.39 respectively.

The decliners included Dutch Lady, Manulife, GAB, Chin Teck, Toyo Ink, BLD Plantations, Top Glove, Pansonic and KLK, while the actives included Asia Bio, Tiger Synergy, Metronic, Asia Global, DGSB and Tambun.



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FBM KLCI down on global economic concerns

KUALA LUMPUR (April 12) : Malaysian shares fell on Thursday morning as trading resumed following Wednesday’s public holiday. The FBM KLCI traded lower as investors reacted to global economic concerns which had dragged Asian markets down on Wednesday.

Crucial highlights include sovereign debt woes in Europe and growth prospect in the US and China, all of which, are major importing nations. In technical terms, analysts said selling in the FBM KLCI is still prevalent as the index failed to close higher than the 1,600 level after April 4.

“This comes on the back of a “negative divergence” in the daily relative strength index (RSI) where the daily RSI reading for the April price peak is below that of early March.

“Nonetheless, the index’s upward trend in the past six months is by no means over,” OSK Research Sdn Bhd technical analyst Mohammad Ashraf Abu Bakar wrote in a note.

At 10am, the FBM KLCI fell 0.24 point to 1,596.93. Across the exchange, some 217 million shares worth RM171 million were traded, leading to 171 gainers versus 189 decliners.

Top gainers SMPC Corp Bhd rose 27 sen to RM1.41 while Genting PLANTATION []s Bhd added 13 sen to RM9.65

Decliners NESTLE (M) BHD [] fell 26 sen to RM55.70 while BRITISH AMERICAN TOBACCO (M) [] Bhd was down 20 sen to RM54.50.



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Stocks to Watch S P Setia, Xian Leng, SMPC, MBSB, Yinson

KUALA LUMPUR (April 11): The FBMKLCI could experience some minor pullback amidst cautious trading on Thursday, in line with its regional peers’ performance on Wednesday.

Asian shares fell for a third straight day on Wednesday as investors continued to cut back their risk exposure given uncertainty over global growth prospects and resurfacing worries about debt restructuring in struggling euro zone economies, according to Reuters.

European shares hit a 10-week low on the first trading day after the four-day Easter holiday on Tuesday, and Wall Street's benchmark Standard & Poor's 500 Index followed through with a 1.71% slide, its worst day in four months.

The sell-off was triggered by last Friday's data, which showed a sharp slowdown in US jobs creation last month, along with Tuesday's data, which suggested softening Chinese demand even when Beijing returned to an export-led trade surplus in March, said Reuters.

The mood at the local market may also be impacted by the less that encouraging outlook for Malaysia by the Asian Development Bank (ADB) in its Asian Development Outlook 2012: Confronting Rising Inequality in Asia report.

The ADB said that given Malaysia’s close integration with the world economy — exports and imports of goods and services are equivalent to over 100% of gross domestic product (GDP) — weakness in the global outlook clouds the country’s prospects in 2012.

“Growth is seen moderating to about 4.0% in 2012, then quickening to 5.0% in 2013 as the external environment improves,” ADB said in the report released on Wednesday.

Among the stocks that could be in focus on Thursday are S P Setia Bhd, XIAN LENG HOLDINGS BHD [], SMPC Corp Bhd, MALAYSIA BUILDING SOCIETY BHD [] (MBS), and YINSON HOLDINGS BHD [].

The Securities Commission has approved a proposed RM505 million bond scheme by Setia Ecohill Sdn Bhd, a wholly-owned subsidiary of property developer S P Setia Bhd.

The board of Xian Leng Holdings Bhd will improve the company’s corporate governance, following a special audit which revealed financial irregularities in the commercial breeder of ornamental fish. In a statement to the exchange on Tuesday, Xian Leng said its directors will consider and implement preemptive and corrective measures including the appointments of key personnel to oversee its business. These include a legal advisor and monitoring accountant, apart from an officer in charge of the daily operations of the firm.

SMPC Corp shares rose as much as 7% on Tuesday morning as investors chased the stock before it goes ex-rights on Thursday (April 12). The final day of lodgement is on April 16. The steel manufacturer climbed 17 sen to reach an intraday high of RM2.53, before trading lower at RM2.50 at 11.56am.

Financial services entity MBS — which is paying a final dividend of 7% less 25% tax for financial year ending Dec 31, 2011 — will go ex-dividend on Thursday as well.

Kenanga Investment Bank Bhd has initiated coverage on logistics firm Yinson Holdings Bhd, with an "outperform" call and fair value of RM2.29.



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KLCI closes higher, but stays shy of 1,600-mark

KUALA LUMPUR (APRIL 10): The FBM KLCI closed higher on Tuesday, but stayed shy of the 1600-point mark as investor sentiment appeared to be cautious given the concerns over data that came from the US and China.

Regional markets were mostly mixed on Tuesday, as investors remained cautious after Chinese trade data showed the world's second largest economy may be able to achieve a soft landing but global growth concerns lingered given the sharp slowdown in U.S. job creation, according to Reuters.

Meanwhile, European stocks posted sharp early losses on Tuesday and German government bond yields hit their lowest levels since September, as investors returning from a holiday weekend cut their exposure to risky assets after surprisingly weak March U.S. jobs data, it said.

The FBM KLCI rose 5.89 points to 1,597.17. It had earlier risen to its intra-day high of 1,598.53.

Gainers overtook losers by 365 to 332, while 33 counters traded unchanged. Volume was 1.11 billion shares valued at RM1.58 billion.

The worries about the health of the giant U.S. economy overshadowed positive trade numbers from Germany and China, with both nations enjoying strong export growth, although weak Chinese import numbers took some of the gloss off the data, said Reuters.

At the regional markets, Hong Kong’s Hang Seng Index fell 1.15% to 20,356.24, Japan’s Nikkei 225 shed 0.09% to 9,538.02, and South Korea’s Kospi was down 0.13% to 1,994.41.

The Shanghai Composite Index rose 0.88% to 2,305.86, Taiwan’s Taiex gained 0.52% to 7,640.68 and Singapore’s Straits Times Index up 0.59% to 2,977.70.

On Bursa Malaysia, Country View was the top gainer and rose 29.5 sen to 95.5 sen, Tradewinds PLANTATION []s added 26 sen to RM5.71, Genting rose 24 sen to RM11.08, Tradewinds added 24 sen to RM10.16, Batu Kawan 20 sen to RM18.74, BLD Plantations 19 sen to RM9.39, Chin Teck 14 sen to RM9.20, KPJ and SMPC up 13 sen each to RM5.29 and RM2.49, while Carlsberg added 12 sen to RM10.86.

Naim Indah Corp was the most actively traded counter with 69.82 million shares done. The stock gained one sen to 54 sen.

Other actives included DiGi, Metronic, KBES, Tiger Synergy, CSL, DPS, Ariantec and Managed Pay.

Meanwhile, decliners included Aeon, Sarawak Oil Palms, GBH, Advanced Packaging, GAB, Amtek, Malpac, Panasonic, UAC and Inno.



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KLCI edges up at mid-day break, crosses 1,590-mark

KUALA LUMPUR (APRIL 9): The FBM KLCI ticked upward at the mid-day break on Tuesday and moved above the 1,590-point mark, while investors at the regional markets took a cautious stance.

Asian shares struggled on Tuesday as investors remained cautious after Chinese trade data showed the world's second largest economy may be able to achieve a soft landing but global growth concerns lingered given the sharp slowdown in U.S. job creation, according to Reuters.

The FBM KLCI added 4.38 points to 1,595.66 at the mid-day break.

Losers edged gainers by 257 to 297, while 295 counters traded unchanged. Volume was 471.75 million shares valued at RM531.72 million.

At the regional markets, Japan’s Nikkei 225 fell 0.20% to 9.565.81, Hong Kong’s hang Seng Index lost 1.11% to 20,365.10, the Shanghai Composite Index wa down 0.96% to 2,263.78, and South Korea’s Kopsi shed 0.03% to 1,996.55, while Singapore’s Straits Times Index added 0.23% to 2,967.04 and Taiwan’s Taiex gained 0.18% to 7,614.54.

BIMB Securities Research in a note Tuesday said that as expected, sellers overwhelmed Wall Street following the weak job data last week.

The Dow Jones Industrial Average consequently declined 130 points to 12,929 as funds flowed back to the US Treasuries as depicted by a dip in the 10 year Treasury yield to 2.04% (-0.14%), it said.

The research house said investors would pay heed to some of the upcoming corporate earnings due this week.

With European markets closed for Easter, regional markets have had a rather traumatic Monday with almost all ending up in a sea of red taking cue the weak job data, it said.

“As for the local bourse, its performance was in synch with the regional decline as the FBMKLCI lost 7.6 points to 1,591 just above the support level of 1,590.

“We expect the market to be lacklustre today with the index to see further decline albeit marginally as China continues to be plagued by the fine art of balancing between growth and inflation. We see current developments as excellent windows of opportunities to accumulate and expect the index to hover between 1,585-90,” it said.

ON Bursa Malaysia, Tradewinds PLANTATION []s was the top gainer in the morning session and added 28 sen to RM5.73, Tradewinds up 23 sen to RM10.18, Bonia 17 sen to RM2.60, KPJ 15 sen to RM5.31, Batu Kawan and SMPC up 14 sen each to RM18.68 and RM2.50, Genting 12 sen to RM10.96, YHS 11 sen to RM2.75 and Carlsberg added 10 sen to RM10.84.

Tiger Synergy was the most actively traded counter with 24.8 million shares done. The stock was unchanged at 15.5 sen.

Other actives included KBES, Digi, Naim Indah Corp, CSL, KTB, Managed Pay and Asia Media.

Meanwhile, the decliners included Nestle, Aeon, Lafarge Malayan Cement, Panasonic, UAC, Parkson, Amtek, Shangri-La, LPI and Milux.



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SMPC up 7%, goes ex-rights on Thursday

KUALA LUMPUR (April 10) : SMPC Corp Bhd shares rose as much as 7% on Tuesday morning as investors chased the stock before it goes ex-rights this Thursday. The final day of lodgement is on April 16.

The steel manufacturer climbed 17 sen to reach an intraday high of RM2.53 before trading lower at RM2.50 at 11.56am. Some 251,000 shares changed hands. At RM2.50, the stock had gained 24% from a week earlier when it closed at RM2.01.

SMPC is undertaking a renounceable rights issue of up to 19.39 million new shares with 9.7 million free warrants on the basis of six rights units and three warrants for every two existing shares held.

The company is also implementing a renounceable rights issue of up to RM19.39 million worth of zero-coupon, 10-year irredeemable convertible unsecured loan stocks (ICULS) with 9.7 million free warrants on the basis of RM6 worth of ICULS and three warrants for every two existing shares held.



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KLCI closes higher but some pullback expected next week

KUALA LUMPUR (April 6): The FBM KLCI closed higher on Friday, while the few regional markets that were open for trade ended the day in negative territory, as investors stayed on the sidelines ahead of key U.S. jobs data.

China shares ended up 0.2 percent in thin volume on Friday, moving around a key psychological level as investors awaited a slew of economic data next week which could signal possible policy changes, according to Reuters.

The FBM KLCI closed 5.43 points higher at 1,598.87.

Gainers led losers by 457 to 248, while 324 counters traded unchanged. Volume was 1.28 billion shares valued at RM1.14 billion.

At the regional markets, the Shanghai Composite Index added 0.19% to 2,306.55, Taiwan’s Taiex gained 0.87% to 7,706.26, south Korea’s Kospi edged up 0.01% to 2,029.03 while Japan’s Nikkei 225 fell 0.81% to 9,688.45.

Affin Investment Bank Bhd vice president and head of retail research Dr Nazri Khan said the FBM KLCI was now ripe for a pullback towards a lower sideways range of 1580-1600 level.

“We reckon the equity optimism will take a mild negative turn following a surprised absence of USA stimulus and Spanish revived fiscal concerns with the bond yields climbing to their highest level in five month (Spanish 10-Year bond rose to 5.8%).

“This has stoked concerns regarding the European debt crisis, boosted safe-haven appeal of the USA dollar and weighed on local risk-taking sentiment,” he said.

DR Nazri said he also expects the bullish sentiment to take a pause after the Federal Reserve meeting minutes earlier this week indicated reduced prospects for more quantitative easing.

ON Bursa Malaysia, BAT was the top gainer and added 48 sen to RM55.46, Dutch Lady added 30 sen to RM35.80, Tradewinds PLANTATION []s and BLD Plantations rose 25 sen each to RM5.44 and RM9.40, Tradewinds up 18 sen to RM9.97, TDM 17 sen to RM4.95, SMPC and Naim Holdings 15 sen each to RM2.12 and RM2.05, Mulpha 14 sen to 60 sen and MAHB 13 sen to RM5.89.

Naim Indah Corp was the most actively traded counter with 149.52 million shares done. The stock rose 8.5 sen to 57 sen.

Other actives included Metronic, SuperComNet, Ariantec, CSL, Focus, Tiger Synergy, Green Ocean, Ingenuity Solutions and TMS.

Decliners included F&N, Batu Kawan, Shell, HUp Seng, Hong Leong Industries, Takaful, HDBS, Aeon and Tiong Nam Logistics.



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SMPC up 16%, stock goes ex-rights on April 12

KUALA LUMPUR (April 6) : SMPC Corp Bhd shares rose as much as 16% during intraday trade on Friday as investors chased the stock before it goes ex-rights on April 12. The final day of lodgement is on April 16.

The steel manufacturer’s shares climbed 31 sen to reach a high of 31 sen before trading lower at RM2.12 at 4.47pm. The stock is one of the top gainers on Friday .

SMPC is undertaking a renounceable rights issue of up to 19.39 million new shares with 9.7 million free warrants on the basis of six rights units and three warrants for every two existing shares held.

The company is also implementing a renounceable rights issue of up to RM19.39 million worth of zero coupon, 10-year irredeemable convertible unsecured loan stocks (ICULS) with 9.7 million free warrants on the basis of RM6 worth of ICULS and three warrants for every two existing shares held.



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KLCI snaps losing streak, but stays shy of 1,600-level at mid-day

KUALA LUMPUR (APRIL 6): The FBM KLCI snapped its two-day losing streak on Friday and rose at the mid-day break, while key regional markets were mostly closed for the Easter weekend holidays.

The FBM KLCI rose 6.29 points to 1,599.73 at the mid-day break.

Gainers led losers by 319 to 233, while 306 counters traded unchanged. Volume was 595.27 million shares valued at RM502.46 million.

The ringgit strengthened .07% t0 3.0625 versus the US dollar; crude palm oil futures for the third month delivery rsoe RM14 per tonne to RM3,546, crude oil was US$103.31 per a barrel (as of April 4 closing) whiel gold fell US$1.18 an ounce to US$1,630.05.

Asian shares struggled on Friday, with many markets closed for the Easter holiday, as investors stayed on the sidelines ahead of key U.S. jobs data, avoiding risk after rising yields in weaker euro zone countries refuelled concerns about the region's debt issues, according to Reuters.

Worries about Spain's rising bond yields were offset somewhat by fresh U.S. data on Thursday that provided more evidence of a recovering labour market, raising prospects of the non-farm payrolls report due later on Friday being solid, it said.

At the regional markets, Japan’s Nikkei 225 fell 1.05% to 9,665.28, Taiwan’s taiex added 0.60% to 7,685.52 and South Korea’s Kospi shed 0.25% to 2,023.75.

BIMB Securities Research in a note April 6 said that European stocks climbed in the final hour of trading on Thursday, after new on US initial jobless claims fell to their lowest levels in four years last week.

Meanwhile Spain’s 10-year bonds dropped for a third day, pushing the yield on the country’s benchmark debt seven basis points higher to 5.76%, it said.

The research house Wall Street ended largely unchanged in a lackluster session as investors hesitated to jump in amid ongoing worries over the euro zone and ahead of Friday's monthly jobs report.

Nonetheless, for the week, all three major averages recorded their worst decline this year, it said.

The Dow Jones Industrial Average slipped 0.11 percent, to close at 13,060.14, declining for a third-straight session while S&P 500 erased or 0.06 percent, to finish at 1,398.08, it said.

BIMB Research said that regionally, most major indices closed lower yesterday, due to weak Spanish bond sale which weaken investors’ confidence.

“In the local front, the FBM KLCI is well supported at 1,590 levels despite poor regional performance, losing 0.36% to close at 1,593.44. Net foreign participation remains positive yesterday at RM66.2m.

“Technical point of view, the near term outlook remains sluggish with immediate support to be seen at 1,590 followed by 1,580,” it said.

ON Bursa Malaysia, BAT the top gainer in the morning session and rose 68 sen to RM55.66, Dutch Lady added 50 sen to RM36, Tradewinds PLANTATION []s rose 31 sen to RM5.50, SMPC up 28 sen to RM2.25, Tradewinds 23 sen to RM10.02, Naim Holdings 14 sen to RM2.04, Mulpha 13 sen to 59 sen, Hing Yap 12 sen to RM1.68, MBM Resources 11 sen to RM4.91 and HLFG added 10 sen to RM12.48.

Naim Indah Corp was the most actively traded counter with 58.3 million shares done. The stock rose 2.5 sen to 51 sen.

Other actives included Metronic, Tiger Synergy, CSL, Green Ocean, Focus, TMS, Ariantec, Systech and DBE Gurney.

Decliners included Shell, F&N, Petrol One, KLK, HDBS, SapureCrest, Batu Kawan, Subur, Perduren and MGRC.



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Malaysian shares down on European debt concerns

KUALA LUMPUR (April 5) : Malaysian shares fell on Thursday morning in tandem with Asian markets following a weaker overnight close across US and European bourses. Global markets had reacted negatively to fresh updates from Europe where Spain’s government bond auction was not well received.

This has raised concerns on the sustainability of European economies which are contending with their sovereign debt woes.

Malaysia’s FBM KLCI fell 5.83 points to 1,593.44 as at 10am with some 178 million shares worth RM89 million changing hands. There were 85 gainers versus 250 declining stocks.

Top gainers EKOVEST BHD [] added 17 sen to RM2.76 while BOUSTEAD HEAVY INDUSTRIES CORP [] Bhd was up six sen to RM3.34.

Decliners GENTING BHD [] fell 14 sen to RM10.94 while SMPC Corp Bhd was down 13 sen to RM1.92.

Most active was METRONIC GLOBAL BHD [] which added 0.5 sen to 15.5 sen with some 15 million shares done.

Among Asian equity benchmarks, Japan’s Nikkei 225 fell 1.05% to 9,716.99 points while Australia’s S&P / ASX 200 declined by a similar quantum to 4,288.4



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FBM KLCI closes at all-time high of 1,603.78 points

KUALA LUMPUR (Apr 2): The FBM KLCI erased earlier losses to finish 0.5% or 7.45 points higher at an all-time high of 1,603.78 points on Monday, as sentiments improve ahead of the country's impending general election.

Analysts said technical trading patterns have improved, as investors anticipate the announcement of government projects and other positive updates from policymakers ahead of the election; hence, the anticipation that the gauge could trade higher over the medium and long term.

According to RHB Research Institute Sdn Bhd, the FBM KLCI has the potential to reach fresh highs of between 1,663 and 1,704 points, as buying momentum improves.

"Technically, the gap-up in the index last week and the recent change in the short-term outlook to positive (from negative previously) suggest that the index is resuming its uptrend after a three-week consolidation," RHB wrote in a note on Monday.

The equities barometer had earlier fallen as much as 6.06 points, to an intraday low of 1,590.27 at 9.51am.

Across the local exchange, 1.44 billion shares worth RM1.4 billion changed hands, resulting in 400 gainers and 353 declining stocks, while 324 entities were unchanged.

Top gainer DUTCH LADY MILK INDUSTRIES BHD [] rose RM1.24 sen to close at RM35.50, followed by SMPC Corp Bhd, which was up 35 sen to RM2.20.

Decliners included BRITISH AMERICAN TOBACCO (M) [] Bhd, which fell 56 sen to RM56.06, while MALPAC HOLDINGS BHD [] was down 15 sen to RM1.50.

Most active was INGENUITY SOLUTIONS BHD [], which traded unchanged at 10.5 sen with some 233 million shares done.

Across Asian indices on Monday, Japan's Nikkei 225 rose 0.26% to 10,109.8 points, South Korea's Kospi climbed 0.76% to 2,029.29 while Australia's S&P/ASX 200 was down 0.14% to 4,329.27.

Asian markets had found support from better manufacturing updates in China over the weekend. The world's second largest economy's Purchasing Managers' Index, a barometer of the country's manufacturing activity, had risen to 53.1 in March this year, the highest in about a year, according to the National Bureau of Statistics.



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FBM KLCI trades at all-time intraday high 1,599 points

KUALA LUMPUR (April 2) : The FBM KLCI traded at an all-time intraday high of 1,599.25 points in volatile trade at Monday noon as the index sank into the red before erasing losses to settle in positive territory at lunch break. Analysts said the outlook for the FBM KLCI is still deemed uncertain in April after taking into account technical and fundamental dynamics.

OSK Research Sdn Bhd said in technical terms, the index could see more upside as the gauge has been a laggard versus regional peers, apart from the fact that the FBM KLCI has breached a crucial resistance level.

“On the other hand, as news on Europe is again turning less positive, more profit taking could emerge in April,” OSK wrote in a note on Monday.

At 12.30pm, the FBM KLCI was up 1.88 points to settle lower at1,598.21. Some 735 million shares worth RM543.63 million changed hands, resulting in 263 gainers and 347 declining stocks while 238 entities were unchanged.

The equities barometer had earlier fallen as much as 6.06 points to 1,590.27 at 9.51am.

Top gainers DUTCH LADY MILK INDUSTRIES BHD [] rose 90 sen to RM35.16 followed by SMPC Corp Bhd which was up 43 sen to RM2.28.

Decliners include BRITISH AMERICAN TOBACCO (M) [] Bhd which fell RM1.24 to RM55.38 while PPB GROUP BHD [] was down 26 sen to RM16.64

Most active was INGENUITY SOLUTIONS BHD [] which added one sen to 11.5 sen with some 151 million shares done.

Asian markets found support from better manufacturing updates in China over the weekend. The world’s second largest economy’s purchasing managers' index, a barometer of the country’s manufacturing activity, had risen to 53.1 in March this year, the highest in about a year, according to the National Bureau of Statistics.

Across Asian indices on Monday, Japan’s Nikkei 225 rose 0.6% to 10,144.3 points, Australia’s S&P / ASX 200 climbed 0.3% to 4,348.4, although Hong Kong’s Hang Seng was down 0.4% 20,472.4.



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KLCI reverses gains, slips into negative territory

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

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

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

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

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

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

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

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



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KLCI marginally in the black, regional markets struggle

KUALA LUMPUR (March 26): The FBM KLCI managed to remain in positive territory at mid-day on Monday, while its regional peers struggled to sustain gains and were traded mixed.

At the mid-day break, the FBM KLCI edged up 0.91 of a point to 1,586.74. Gainers trailed losers by 210 to 425, while 299 counters were unchanged. Volume was 731.25 million shares valued at RM515.39 million.

The ringgit strengthened 0.08% to 3.0730 versus the US dollar; crude palm oil futures for the third month delivery rose RM28 per tonne to RM3,455, crude oil fell 27 cents per barrel to US$106.60 while gold shed 35 cents an ounce to US$1,661.55.

Meanwhile, Asian shares struggled on Monday, with materials and TECHNOLOGY [] stocks losing ground amid concerns about the impact on profits of a slowdown in the global economy, according to Reuters.

Commodity-linked currencies such as the Australian dollar steadied after a hammering last week on worries of easing demand for resources from China, while the euro held near a three-week high, it said.

At the regional markets, Japan’s Nikkei 225 was up 0.25% to 10,036.60, Hong Kong’s Hang Seng Index edged up 0.02% to 20,673.40, the Shanghai Composite Index gained 0.10% to 2,351.87 while South Korea’s Kospi fell 0.52% to 2,016.27, Singapore’s Straits Times Index shed 0.21% to 2,983.87 and Taiwan’s Taiex was down 1.34% to 7,968.33.

On Bursa Malaysia, Dutch lady was the top gainer and rose 32 sen to RM31.30.

Supercomnet, which rose 18.5 sen to 48.5 sen with 226.6 million shares done, was earlier queried by Bursa Malaysia Securities Bhd over the sharp price rise and high volume in its shares.

Other gainers included SMPC that rose 18 sen to RM1.74, HLFG up 16 sen to RM12.16, PPB 12 sen to RM16.76, BAT 10 sen to RM53.90, MajuPerak 9.5 sen to 38 sen, Unisem nine sen to RM1.42 and Nestle eight sen to RM55.98.

Decliners included Chin Teck PLANTATION []s, Far East, Carlsberg, Aeon Credit, Manulife, Tenaga, WCT and Tradewinds.

Meanwhile, the actively traded stocks included metronic, Karambunai, Focus, Ariantec, Supercomnet, Ingenuity Solutions, Trinity and DPS.



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