KLCI closes lower, but pares down loses

KUALA LUMPUR (April 24): The FBM KLCI closed lower on Tuesday, but pared down it losses to move above the 1,580-point mark in line with the slight recovery at most key regional and European markets.

European share markets and the single currency staged modest recoveries on Tuesday, after steep losses caused by the worsening performance of the euro zone economy and a sharp rise in concern over the political will to fix its fiscal problems, according to Reuters.

The FBM KLCI fell 1.52 points to close at RM1,582.28. The index had earlier fallen to its intra-day low of 1,579.04.

Market breadth remained weak with 409 losers, 273 gainers and 348 counters trading unchanged. Volume was 1.42 billion shares valued at RM1.55 billion.

At the regional markets, Hong Kong’s hang Seng Index gained 0.26% to 20,677.16, Taiwan’s Taiex added 0.24% to 7,498.84, the Shanghai Composite Index edged up 0.01% to 2,388.83 and Singapore’s Straits Times Index

Meanwhile, South Korea’s Kospi fell 0.47% to 1,963.42 and Japan’s Nikkei 225 shed 0.78% to 9,468.04.

Among the decliners on Bursa Malaysia, Petronas dagangan fell 26 sen to RM19.28, Jaya Tiasa down 22 sen to RM9.54, Carlsberg 20 sen to RM11.30, SAM Engineering 17 sen to RM3.38, APM Automotive down 14 sen to RM4.50, Tradewinds 13 sen to RM9.52, S P Setia 11 sen to RM3.73, while Subur Tiasa and Ta Ann lost 10 sen each to RM2.85 and RM6.50.

Ariantec was the most actively trade counter with 142.38 million shares done. The stock gained one sen to 25 sen.

Other actives included Ingenuity Solutions, Metronic, Focus, CSL, Ramunia, TMS, JCY and Astral Supreme.

Gainers included Aeon Credit, Top Glove, CSL, Panasonic, MMC Corp, Three-A Resources, Quality Concrete, UMW and JCY.



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KLCI struggles but stays above 1,580-level

KUALA LUMPUR (APRIL 23): The FBM KLCI struggled to remain above the important 1,580-level on Monday after having succumbed more than 8 points to fall below the 1,590-level.

Asian shares trended lower as political developments in France and the Netherlands raised fears about the region's commitment to tackle its ongoing debt crisis, according to Reuters.

The FBM KLCI lost 8.05 points to close at 1,583.80, weighed by losses including at CIMB, Genting, BAT, Tenaga, Telekom and RHB Capital.

Europe's top shares opened lower on Monday on the political concerns, but attention was expected to switch to the economy, with euro zone manufacturing activity indicators due out later after data from China showed some signs of recovery in factory output but not enough to prevent the sector contracting, said Reuters.

At the regional markets, Hong Kong’s hang Seng Index lost 1.84% to 20,634.39, Singapore’s Straits Times Index lost 1.11% to 2,961.18, the Shanghai Composite Index fell 0.76% to 2,388.59, Taiwan’s Taiex was down 0.35% to 7,481.09, and Japan’s Nikkei 225 shed 0.20% to 9,542.17, whiel South Korea’s Kospi edged down 0.10% to 1,972.63.

Among the major losers on Monday, BAT fell 98 sen to RM55.540, Aeon and Jaya Tiasa fell 21 sen each to RM9.20 and RM9.76, Genting 18 sen to RM10.62, Boustead 17 sen to RM5.28, Bumi Armada and CSL 16 sen each to RM4.31 and RM1.49, Warisan and Nestle down 14 sen each to RM2.34 and RM55.84, while Subur Tiasa fell 13 sen to RM2.95.

Other decliners included CIMB and Telekom that fell five sen each to RM7.50 and RM5/37, whiel RHB Capital and Tenaga lost four sen each to RM7.39 and RM6.48.

Araiantec was the most actively traded counter with 396.6 million shares done. The stock gained two sen to 24 sen.

Other actives included Metronic, Asral Supreme, Focus, Naim Indah Corp, JCY and Jotech.

Advancing stocks included Petronas Dagangan, Aeon Credit, United PLANTATION []s, Dutch Lady, Kencana, SapuraCrest, Manulife, Litrak and BIntulu Port.



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KLCI closes lower as investors remain jittery

KUALA LUMPUR (April 19): The FBM KLCI closed lower on Thursday, in line with the mixed sentiment at regional bourses underpinned by concerns of the Euro zone sovereign debt crisis.

Markets have grown jittery about the euro zone's capacity to prevent Spain's fiscal woes in particular from spreading to other vulnerable peripheral euro zone economies, despite massive liquidity injections by the European Central Bank, according to Reuters.

The FBM KLCI shed 2.24 points on Thursday to close at 1,596.62.

Market breadth turned negative with 429 losers, 281 gainers and 350 counters trading unchanged. Volume was 1.71 billion shares valued at RM1.56 billion.

At the regional markets, Japan’s Nikkei 225 fell 0.82% to 9.588.38, South Korea’s Kospi down 0.23% to 1,999.86 and the Shanghai Composite Index shed 0.09% to 2,378.63.

Meanwhile, Taiwan’s Taiex gained 0.23% to 7,622.69.

On Bursa Malaysia, Dutch Lady fell 60 sen to RM34.38, KLK down 40 sen to RM23.80, BAT shed 20 sen to RM55, Country View down 18 sen to 64 sen, CSL 15 sen to RM1.53, SAM Engineering 14 sen to RM3.65, Tradewinds and KESM down 13 sen each to RM9.69 and RM2.05, while Subur Tiasa lost 10 sen to RM2.98.

Ariantec was the most actively traded couter with 266.8 million shares done. The stock fell 1.5 sen to 17.5 sen.

Other actives included Utopia, CSL, Metronic, DBE Gurney, Compugates, Managed Pay, Iris Corp and Astral Supreme.

Gainers on Thursday included Pintaras, F&N, GAB, Metal Reclamation, Tan Chong, Can-One, Kian Joo, Bintulu Port and Genting.



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KLCI slips into the red at mid-day break

KUALA LUMPUR (April 19): The FBM KLCI gave up some ground to slip into negative territory at the mid-day break on Thursday, in line with the generally tepid sentiment at key regional markets.

Asian shares and the euro traded in tight ranges on Thursday ahead of a Spanish bond sale seen as a key test of investors' risk appetite amid renewed concerns over the euro zone's debt crisis, according to Reuters.

Meanwhile, U.S. stocks slipped on Wednesday, a day after Wall Street's best gains in a month, as uninspiring earnings from tech bellwethers IBM and Intel gave investors a reason to take profits, according to Reuters

The FBM KLCI fell 2.80 points to 1,596.06 at 12.30pm, weighed by losses at select blue chips including CIMB, KLK, Maybank and Genting.

Losers beat gainers by 358 to 221, while 311 counters traded unchanged. Volume was 1.02 billion shares valued at RM661.94 million.

The ringgit weakened 0.13% to 3.0686 versus the greenback, crude palm oil futures for the third month delivery fell RM30 per tonne to RM3,449, crude oil shed 11 cents per barrel to US$102.56 while gold lost US$4.50 an ounce to US$1,637.60.

At the regional markets, Japan’s Nikkei 225 fell 0.89% to 9,580.90, the Shanghai Composite Index down 0.14% to 2,377.57, Singapore’s Straits Times Index fell 0.08% to 2,998.17, south Korea’s Kospi lost 0.33% to 1,997.92, Taiwan’s Taiex edged down 0.01% to 7,604.367 while Hong Kong’s Hang Seng Index gained 0.36% to 20,856.40.

Among the major losers on Bursa Malaysia, Dutch Lady lost 38 sen to RM34.60, KLK 24 sen to RM23.96, Country View 21 sen to 61 sen, Tradewinds 16 sen to RM9.66, KESM and SAM Engineering down 12 sen each to RM2.06 and RM3.67, CSL 10 sen to RM1.68, Subur Tiasa eight sen to RM3 and Nice seven sen to 31 sen.

Meanwhile, CIMB lost three sen to RM7.64, Maybank and Genting down two sen each to M8.85 and RM10.80, and DiGi was down one sen to RM3.92.

Ariantec was the most actively traded counter with 143.99 million shares done. The stock was unchanged at 19 sen.

Other actives included Utopia, CSL, metronic, DBE Gurney, Compugates, Iris Corp and Astral Supreme.

Gainers included Can-One, Tan Chong, F&N, Pintaras, Jaya Tiasa, Bintulu Port, Aeon Credit, Utusan and GAB.



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Positive external vibes prop KLCI higher, but index stays shy of 1,600-mark

KUALA LUMPUR (April 18): The FBM KLCI closed higher on Wednesday, in line with the firmer performance at key regional markets, which saw Japan’s Nikkei 225 rising 2%, but the local benchmark index stayed shy of the 1,600 point level.

Japan's Nikkei index rallied 2.1 percent on Wednesday on robust U.S. corporate earnings, firm demand for Spanish debt and an upbeat German economic sentiment survey, with signals that the Bank of Japan may take more easing steps also providing momentum, according to Reuters.

Mewnwhile, China shares also ended up 2% on Wednesday, the biggest one-day percentage rise in more than two months, led by finance and property sectors on expectations the government would ease monetary policy, it said.

The FBM KLCI was up 2.67 points to close at 1,598.86.

Gainers edged losers by 394 to 350, while 337 counters traded unchanged. Volume was 2.13 billion shares valued at RM1.62 billion.

At the regional markets, Jpan’s Nikkei 225 rose 2.14% to 9.667.26, the Shanghai Composite Inde gained 1.96% to 2,380.85, Hong Kong’s Hang Seng Index was up 1.06% to 20,780.73, South Korea’s Kospi added 0.97% to 2,004.53, Taiwan’s Taiex edged up 0.25% to 7,605.00 and Singapore’s Straits Times Index

Among the gainers on Bursa Malaysia, BAT rose 74 sen to RM55.20, United PLANTATION []s up 40 sen to RM25, Dutch Lady 38 sen to RM34.98, Subur Tiasa 26 sen to RM3.08, Carlsberg 24 sen to RM11.28, SAM Engineering and Can-One 20 sen each to RM3.79 and RM2m, while KESM and Hong Leong Industries added 18 sen each to RM2.18 and RM4.29.

Metronic was the most actively traded counter with 362.76 million shares done. The stock added two sen to 19.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi, DVM, CSL, Asral Supreme and Tiger Synergy.

Decliners included Tradewinds, Tan Chong, KLK, Genting, Far East, PMB Tech, Aeon Credit and Tradewinds Plantations.



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KLCI stays put above 1,600-mark at mid-day break

KUALA LUMPUR (APRIL 18): The FBM KLCI stayed put above the crucial 1,600-point level at the mid-day break on Wednesday, up in tandem with its key regional peers that rose on the back of a firmer overnight close at Wall Street.

Asian shares rose on Wednesday as firm demand at Spanish debt sales, positive U.S. corporate earnings and an improvement in a key German sentiment survey boosted investor confidence in riskier assets, according to Reuters.

The FBM KLCI rose 5.05 points to 1,601.24 at the mid-dy break, lifted by key blue chips including Maybank, CIMB, Sime darby, Axiata and Tenaga.

The broader market sentiment improved with 319 gainers, 297 losers and 310 counters trading unchanged. Volume was 1.43 billion shares valued at RM757.83 million.

The ringgit strengthened 0.04% to 3.0642 versus the greenback, crude palm oil futures for the third month delivery fell RM8 per tonne to RM3,495, crude oil added 19 cents per barrel to US$102.39 while gold rose US$3.13 an ounce to US$1,652.70.

At the regional markets, Japan’s Nikkei 225 rose 1.85% to 9,639.36, Hong Kong’s Hang Seng Index up 1.2% to 20,808.80, the Shanghai Composite Index gained 1.33% to 2,366.11, south Korea’s Kospi rose 1.06% to 2,006.31 and Singapore’s Straits Times Index edged up 0.57% to 3,003.63, while Taiwan’s Taiex was up 0.39% to 7,615.42.

Among the gainers in the morning session, BAT rose 54 sen to RM55, Dutch Lady added 38 sen to RM34.98, SAM Engineering up 27 sen to RM3.86, subur Tiasa 22 sen to RM3.04, Carlsberg 20 sen to RM11.24, Hong Leong Industries 18 sen to RM4.29, while Tong Herr, Panasonic and United PLANTATION []s gained 10 sen each to RM2.49, RM21.70 and RM24.70.

Meanwhile, Maybank and CIMB rose six sen each to RM8.87 and RM7.68, Sime Darby, Axiata and Tenaga were up three sen each to RM9.93, RM5.39 and RM6.54 respectively.

Metronic was the most actively traded counter with 291.81 million shares done. The stock rose four sen to 21.5 sen.

Other actives included Ariantec, SuperComNet, Focus, Naim Indah Corp, Sanichi and SCL.

Decliners included Nestle, Far East, Sarawak Oil Palms, APM, PMB Tech, KLK, UMS, HLFG and SMPC.



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KLCI gains on Spanish bond sale, US corporate earnings

KUALA LUMPUR (April 18) : Malaysian stocks rose on Wednesday morning in tandem with Asian markets on strong demand for Spain government bonds and better US corporate earnings.

Analysts expect the FBM KLCI to register gains on Wednesday following a stronger overnight close across US markets.

“While increased speculation on ACE market and penny stocks lifted trading activity above the two billion shares mark yesterday, the lower traded value implies that the broader market and blue chips are likely to remain in consolidation mode on cautious trade,” TA Securities Holdings Bhd wrote in a note.

At 10.01am, the FBM KLCI added 5.25 points to 1,601.44. Across the exchange, some 519 million shares worth RM227 million were traded, leading to 265 gainers versus 136 decliners.

Top gainers Sam Engineering & Equipment (M) Bhd rose 29 sen to RM3.88 while SUBUR TIASA HOLDINGS BHD [] was up 20 sen to RM3.02.

Decliners SARAWAK OIL PALMS BHD [] fell 11 sen to RM6.77 while PETRONAS DAGANGAN BHD [] was down 10 sen to RM18.68.

Most active was Ariantec Global Bhd which rose two sen to 22 sen with some 157 million shares done.

Among Asian bourses, Japan’s Nikkei 225 climbed 1.64% to 9,619.46 points while Australia’s S&P/ ASX 200 rose 1.38% to 4,347.8. South Korea’s Kospi was up 1.01% to 2,005.43.



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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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Stocks to watch Subur Tiasa, Amway, Poh Kong, Genetec , Perak Corp, Kein Hing

KUALA LUMPUR (March 24): The FBM KLCI is expected to trend higher in the weekbegining March 26, supported by local market defensiveness election hyped trading sentiment and bullish quartr-end window dressing.

World stocks rebounded on Friday, lifted by shares in energy and basic materials, as concerns about global growth were set aside by investors who saw further gains in this year's rally, according to Reuters.

Meanwhil, US stocks rose in light volume on Friday, boosted by rising energy and basic materials shares, and the S&P 500 continued to show resilience even as it posted its second negative week so far this year, it said.

Affin Investment Bank vice president and head of retail research Dr Nazri Khan said that despite the global weakness on negative manufacturing data from China, French and Germany, he expects the FBMKLCI to trend moderately higher next week, supported by local market defensiveness; election hyped trading sentiment and bullish quarter-end window dressing.

“We note that although most global indices trended lower late last week, the local benchmark closed higher and managed to stay resilient (KLCI up 0.6%, FTSE All World down 0.8% w-o-w) despite negative ideas of China economic contraction and rising recession concerns in the Europe.

“We believe such ideas are not new as market may have factored in eurozone recession and China slow down since late last year,” he said.

Nazri said that the overall feel was that the global market had rallied a long way and was now overbought –he said the FTSE All-World index sits less than 2% below last week’s near eight-month peak, when it had surged almost 13% year to date – hence it needs a breather to neutralize its overboughtness as well as new positive catalysts to propel it higher.

He said cheap liquidity would be the biggest catalyst in the near term, including Ben Bernanke‘s Fed promises to keep interest rates low until 2014 and the ECB decision to lend over $1 trillion (at 1% rates for a three year duration) to under-capitalized European banks will be the primary cushion for the market against unexpected distribution.

“Despite rising inflation risk due to higher oil price, there are rumours that several central banks such as Bank Of England, Swiss National Bank and Bank of Canada and even Bank Of India to play catch up with Fed and ECB (in pumping liquidity) which we think will be supportive for the local market,” he said.

As for the local front, we expect the quarterly portfolio rebalancing as the most important bullish drivers with a combination of premium investors, high end retail and institutional making large bets ahead of the anticipated stronger second half (which include the upcoming mega IPO such as Felda and anticipated election in the second quarter).

The fact that the local benchmark index has already inched up 3% year-to-date and 18% since the September 2011 low is a testimony of the local market defensiveness (in terms of shallower correction, low beta due to slim MSCI weightage, low foreign shareholding and resilient domestic earning driver) especially during global volatility.

“Further, we see most regional bourses have successfully breached the pre-Lehman crisis’ high (Jakarta Composite Index, Philippines Composite Index and Thailand SET Index at three year high) which in turn can be supportive momentum for FBM KLCI.

“On the technical front, momentum studies continue to trend higher despite entering overbought levels, suggesting more positive bias. Uptrend so far remains intact with FBMKLCI still holding above the 20, 50 and 200 moving average near 1,580-1,565 support level. The next area of resistance are pegged at 1,590 and 1,600 while support should come at 1,580 and 1,565 levels,” he said.

Among the stocks that could be in focus are SUBUR TIASA HOLDINGS BHD [], AMWAY (M) HOLDINGS BHD [], POH KONG HOLDINGS BHD [], Genetec TECHNOLOGY [] Bhd, Perak Corp Bhd, KEIN HING INTERNATIONAL BHD [].

Subur Tiasa’s earnings rose 10.5% to RM6 million in the second quarter ended Jan 31, 2012 from RM5.43 million a year ago, boosted by the stronger manufacturing sector.

Kenanga Investment Bank Bhd has initiated coverage on Amway with an “outperform” call and target price of RM10.94.

Poh Kong said the jeweler has fully settled its outstanding debt under a RM200 million Islamic bond scheme. The stock was down 0.5 sen to 56 sen.

Genetec, a contract manufacturer of industrial equipment, has secured RM27.9 million worth of jobs, of which, orders from the hard disk drive sector account for 90% or RM25 million of the total amount.

Meanwhile, Perak Corp is collaborating with Sanderson Project Development (M) Sdn Bhd to develop and operate an animation theme park in Ipoh. The project includes hotel and high-rise residential portions. Shares of Perak Corp fell one sen to RM1.39 on Friday.

Finally, industrial component assembler Kein Hing reported a net loss of RM292,000 in the third quarter ended Jan 31, 2012 from a net profit of RM1.55 million a year earlier as revenue was down 8% to RM37.99 million. Kein Hing closed unchanged at 51 sen last Friday.



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Subur Tiasa 2Q net profit up 10.5% to RM6m

KUALA LUMPUR (March 23): SUBUR TIASA HOLDINGS BHD []’s earnings rose 10.5% to RM6.00 million in the second quarter ended Jan 31, 2012 from RM5.43 million a year ago, boosted by the stronger manufacturing sector.

It said on Friday that its revenue, however, declined 13.9% to RM157.67 million from RM183.29 million. Earnings per share were 3.19 sen compared 2.89 sen.

For the first half, its earnings increased by 8.9% to RM16.80 million from RM15.43 million in the previous corresponding period. Revenue slipped 9.5% to RM308.88 million from RM341.56 million.

Commenting on the performance of its divisions, Subur Tiasa said the logging and reforestation segment reported profit before tax of RM1.12 million in 2Q and RM8.09 million in 1H. The lower profit as compared to previous corresponding period was mainly due to lower average selling prices of logs.

As for the manufacturing segment, comprising of manufacturing of plywood, particleboard and sawn timber, it contributed about 58% of total revenue for 2Q and 54% for 1H.

The manufacturing segment recorded higher profit before tax of RM4.23 million in 2Q and RM11.02 million in 1H. The higher profit was contributed by the increase in selling prices.

The oil palm segment recorded profit before tax of RM3.04 million in 1H mainly due to the increase by 260% in harvested volume of fresh fruit bunch to 16,612 tonnes from 6,420 tonnes a year ago.



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KLCI stays in the black at mid-day break, Asian markets mostly in the red

KUALA LUMPUR (March 23): The FBM KLCI edged up 1.32 points to 1,584.56 at the mid-day break on Friday, lifted by gains including at Genting, Hong Leong Bank, KL Kepong and Petronas Gas.

Gainers trailed losers by 198 to 434, while 326 counters traded unchanged. Volume was 1.27 billion shares valued at RM614.23 million.

Asian shares fell on Friday and growth-linked currencies such as the Australian dollar were shunned after data showing shrinking factory activity in China and the euro zone heightened concerns about a slowdown in the global economy, according to Reuters.

At the regional markets, Japan’s Nikkei 225 fell 1.03% to 10,022.80, Hong Kong’s Hang Seng Index fell 0.96% to 20,701.50, the Shanghai Composite Index lost 0.68% to 2,359.57, Taiwan’ Taiex fell 0.15% to 8,047.84 and South Korea’s Kospi shed 0.02% to 2,025.65, while Singapore’s Straits Times Index was up 0.40% to 2,991.25.

On Bursa Malaysia, Jaya Tiasa rose 65 sen to RM8.34, BAT up 50 sen to RM53.80, Genting added 22 sen to RM10.98, Lipo rose 16 sen to RM1.20, Hong Leong Bank 12 sen to RM12.20, Dutch lady 10 sen to RM30.70, UMW and Subur Tiasa up nine sen each to RM7.22 and RM2.58, whiel KLK and Petronas Gas added eight sen each to RM23.90 and RM16.60.

Ingenuity Solutions was the most actively traded counter with 118.6 million shares done. The stock fell one sen to 12 sen.

Other actives included SAAG, Ariantec, Trinity, Metronic, Flonic, Astral Supreme, and Utopia.

Decliners in the morning session included Ta Win Holdings, QSR shares and warrants, Media Prima, Knusford, Coastal Contracts, SapuraCrest, KAf, Kein Hin and Deleum.



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

KUALA LUMPUR (March 23): The FBM KLCI stayed in positive territory at mid-morning on Friday, while most key regional markets were mired in the red following the weaker overnight close at European and US markets on worries of a slowdown in the world economy.

At 10am, the FBM KLCI rose 1.55 points to 1,584.79, lifted by gains at select blue chips including BAT, Genting, Hong Leong bank and KLK.

Gainers trailed losers by 171 to 198, while 259 counters traded unchanged. Volume was 704.78 million shares valued at RM225.39 million.

Meanwhile, most Asian shares fell on Friday and the safe-haven yen gained after data showing shrinking factory activity in China and the euro zone heightened concerns about a slowdown in the global economy, acco0rding to Reuters.

At the regional markets, jaoan;s Nikkei 225 fell 1.07% to 10,019.00, Hong Kong’s Hang Seng Index lost 1.08% to 20,675.00, the Shanghai Composite Index shed 0.66% to 2,360.08, Taiwan’s Taiex lost 0.26% to 8,039.14 and South Korea’s Kospi was down 0.25% to 2,020.98, while Singapore’s Straits Times Index rose 0.28% to 2,987.71.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients the KLCI closed 0.71 points higher on Thursday, at 1,583.24.

“Its resistance areas of 1,585 and 1,594 may cap market gains, whilst the firmer support areas are located at 1,567 and 1,583. Due to the US markets’ weaker tone last night, we could be in for a range-bound day,” he said.

BIMB Securities Research in a note Friday said traders are at it again and we believe any forthcoming negativity will be amplified exponentially. At present they are citing slower global growth as a major concern hence the prevailing selling on equities.

Despite a four-year low in unemployment claims, the Dow Jones Industrial Average declined 78.5 points to hang precariously just above the psychological 13,000 mark. For the same reason, European bourses also suffered similar fate from broad based selling as all ended up in the red, it said.

The research house said the sea of red spread to Asia as well with only a handful posted gains and one of them being the KLCI showed great resilience at 1,583 (+0.7).

“We were again astounded by the buying on the local bourse spearheaded by the foreign side as net foreign participation was a positive RM87 million. Maybe today would be the day that the index may retrace with the immediate support seen at 1,580,” it said.

On Bursa Malaysia, Jaya Tiasa was the top gainer and rose 52 sen to RM8.21, BAT up 50 sen to RM53.80, Genting up 16 sen to RM10.94, Lipo added 16 sen to RM1.20, UMW and Batu Kawan gained 12 sen to RM7.25 and RM18.7.

Kobay rose 10.5 sen to 89.5 sen, Hong leong Bank and Subur added 10 sen each to RM12.18 and RM2.59 while KLK gained eight sen to RM23.90.

SAAG was the most actively traded counter with 12.7 million shares done. The stock gained half a sen to eight sen.

Other actives included Trinity, Ingenuity Solutions, Ariantec, Metronic, Flonic, Astral Supreme and Iris Corp.

Meanwhile, the decliners at mid-morning included Ta Win Holdings, SMPC, Carlsberg, Deleum, AMMB, Kein Hin, Sarawak PLANTATION []s, Tenaga and KYM.



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KLCI stays in the black, lags regional markets

KUALA LUMPUR (Jan 17): The FBM KLCI managed to stay barely above the 1,510-point level at the mid-day break on Tuesday, and lagged behind key regional markets.

At 12.30pm, the index edged up 1.20 points to 1,510.26.

Losers overtook gainers by 313 to 288, while 314 counters traded unchanged. Volume was 737.43 million shares valued at RM793.79 million.

The ringgit strengthened 0.22% to 3.1318 versus the US dollar; crude palm oil futures for the third month delivery rose RM23 per tonne to RM3,149, crude oil added 43 cents per barrel to US$100.12 while gold jumped US$14.52 an ounce to US$1,658.32.

At the regional markets, Japan’s Nikkei 225 rose 0.77% to 8,442.75, Hong Kong’s Hang Seng Index gained 1.88% to 19,369.90, the Shanghai Composite Index added 0.93% to 2,226.67, Taiwan’s Taiex rose 1.29% to 7,194.93, South Korea’s gained 1.49% to 1,887.00 and Singapore’s Straits Times Index was up 0.91% to 2,781.60.

Among the gainers on Bursa Malaysia this morning, BAT was up 40 sen to RM49.70, Ibraco 21 sen to RM1.44, Petronas Dagangan up 20 sen to RM17.42, Genting 18 sen to RM10.74, Teck Guan 13 sen to 79 sen, Subur Tiasa and Bursa up 12 sen each to RM2.44 and RM6.94, Degem 11.5 sen to RM1.04 and Shell 11 sen to RM9.53.

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

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

Proton jumped 26 sen to RM5.44 with 53.61 million shares done.

Other actives included Compugates, DRB-Hicom shares and warrants, E&O, Hovid and DGSB.

Decliners at mid-day included GAB, Nestle, United PLANTATION []s, Dutch Lady, Panasonic, MISC and MMHE.



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KLCI edges up at mid-morning, Proton in focus

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

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

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

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

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

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

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

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

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

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

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

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

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

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



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Subur Tiasa 1Q net profit up 8% to RM10.8m

KUALA LUMPUR (Dec 21): SUBUR TIASA HOLDINGS BHD [] net profit for the first quarter ended Oct 31, 2011 rose 8% to RM10.8 million from RM10 million a year earlier, due mainly to the rising selling prices of logs and timber products, coupled with effective cost management.

The company said on Wednesday that its revenue for the quarter fell 4.44% to RM151.22 million from RM158.26 million in 2010.

Earnings per share for the quarter rose to 5.74 sen from 5.32 sen in 2010, while net assets per share was RM3.40.

Reviewing its performance, Subur Tiasa said its revenue for the quarter dipped due to lower logs, plywood and sawn timber export sales volume.

On its prospects, Subur Tiasa said the prices for timber products were expected to stay at current levels despite having eased from their high in the second quarter of year 2011.

The spike in crude oil prices due to geopolitical issues in the Middle Eastern and North African countries and the renewed concerns on the European debt turmoil had partly foreshadowed the general market outlook, it said.

“The group will continue to be vigilant in improving efficiencies and effectiveness of its business operations, maximise the utilisation of resources and embrace prudent business practices.

“Barring any unforeseen circumstances, with the additional contribution from our oil palm division, the board expects the group to perform well in the remaining quarters,” it said.



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KLCI pares down losses at mid-day on bargain hunting

KUALA LUMPUR (Nov 15): The FBM KLCI pared down some of its losses at the mid-day break on Tuesday, Nov 15 as investors nibbled on select blue chip stocks.

Meanwhile, Asian markets mostly remained in the red with investors staying on the sidelines as jittery European credit markets hurt sentiment.

The 30-stock FBM KLCI trimmed its losses to just 0.37 of a point to 1,478.50 at 12.30pm. The index had earlier fallen to its intra-morning low of 1,473.71.

Losers led gainers by 389 to 306, while 237 counters traded unchanged. Volume was 1.8 billion shares valued at RM737.82 million.

The ringgit weakened 0.33% to 3.1460 versus the US dollar; crude palm oil futures for the third month delivery gained RM2 per tonne to RM3,196, crude oil added three cents per barrel to US$98.17 while gold fell US$5.15 an ounce to US$1,775.27.

At the regional markets, Hong Kong’s Hang Seng Index lost 1.09% to 19,295.53, South Korea’s Kospi down 0.64% to 1,890.62, Japan’s Nikkei 225 fell 0.53% to 8,557.92, Taiwan’s Taiex lost 0.50% to 7,488.09, Singapore’s Straits Times Index was down 0.20% to 2,824.44 while the Shanghai Composite Index shed 0.05% to 2,527.50.

On Bursa Malaysia, SHL was the top loser and fell 23 sen to RM1.11; TSH Resources lost 17 sen to RM3.63, Nilai 15 sen to RM1.40, Degem and SYF Resources fell 14.5 sen each to 90.5 sen and 77.5 sen, Carlsberg 13 sen to RM6.96, Subur Tiasa 11 sen to RM2.21 while Batu Kawan was down 10 sen to RM15.90.

Among the gainers, DiGi added 88 sen to RM35.40, Proton 38 sen to RM3.08, Amway 20 sen to RM9, Quality Concrete and Kulim 16 sen each to RM1.43 and RM3.63, while LPI Capital and Dutch Lady rose 10 sen each to RM12.94 and RM21.60.

Tiger Synergy was the most actively traded counter with 171.8 million shares done. The stock rose 1.5 sen to 15 sen.

Other actives included DPS Resources, DBE Gurney, Malton, PDZ, Karambunai, Scan Associates and Sinotop.



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