KLCI reverses earlier losses at mid-day break

KUALA LUMPUR (May 3): The FBM KLCI managed to reverse some of its earlier losses at the mid-day break on Thursday and edged up, lifted by gains at select blue chips including AirAsia, BAT and RHB Capital.

The FBM KLCI added 0.41 of a point to 1,582.80 at the mid-day break.

Losers outpaced gainers by 314 to 234, while 318 counters traded unchanged. Volume was 779.26 million shares valued at RM479.15 million.

The ringgit weakened 0.14% to 3.0323 versus the greenback, crude palm oil futures for the third month delivery fell RM31 per tonne to RM3,404, crude oil shed 13 cents per barrel to US$105.09 while gold fell US$5.02 an ounce to US$1,648.48.

Meanwhile, Asian shares slipped on Thursday and the euro languished near a 2-week low after disappointing economic data from both sides of the Atlantic rekindled concerns about the strength of global growth.

Commodities and the Australian dollar - all sensitive to growth expectations - also struggled as the data put investors on the defensive and limited appetite for riskier assets.

At the regional markets, Hong Kong’s Hang Seng Index fell 0.5% to 21,203.40, the Shanghai Composite Index shed 0.37% to 2,429.49, Taiwan’s Taiex was down 0.23% top7,659.09, South Korea’s Kospi lost 0.33% to 1,992.46 and Singapore’s Straits Times Index edged down 0.07% to 3,004.14.

On Bursa Malaysia, AirAsia was the top gainer at mid-day and rose 21 sen to RM3.54, Country View was up 19.5 sen to 84 sen, BAT 16 sen to RM55.20, Nestle and Takaful 12 sen each to RM55.50 and RM4.29, NPC 10 sen to RM2.78, Crest Builder 9.5 sen to RM1.02 and RHB Capital nine sen to RM7.50.

Utopia was the most actively traded counter with 59.68 million shares done. The stock fell half a sen to 7.5 sen.

Other actives included Naim Indah Corp, AirAsia, Ariantec, Metronic, Compugates, Daya Materials and JCY.

Decliners in the morning session included Dutch Lady, MAHB< Genting, Carlsberg, Pasdec, Delloyd, Rexit, Shelll and Sarawak PLANTATION []s.



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KLCI rises 0.7% on positive external factors

KUALA LUMPUR (May 2): The FBM KLCI rose more than 0.7% on Wednesday, advancing in line with the firm gains at key regional markets following positive data coming out from the US.

Asian shares rose and the dollar recovered against the yen on Wednesday after strong U.S. factory activity data raised hopes that the world's biggest economy remained on a recovery track while growth in Asian manufacturing improved broader sentiment, according to Reuters.

European shares were expected to open mixed, with most exchanges reopening after the May Day holiday on Tuesday. Financial spreadbetters predicted that major European markets, it said.

The FBM KLCI rose 0.75% to close 11.78 points higher at 1,582.39 on Wednesday, lifted by gains including at Genting-related counters.

Gainers beat losers by 458 to 281, while 288 counters traded unchanged. Volume was 1.33 billion shares valued at RM1.43 billion.

At the regional markets, the Shanghai Composite Index rose 1.76% to 2,438.44, Hong Kong’ Hang Seng Index added 1.02% to 21,309.08, Taiwan’s Taiex Jumped 2.33% to 7,676.81, South Korea’s Kospi gained 0.86% to 1,999.07, Japan’s Nikkei 225 was up 0.31% to 9,380.25 and Singapore’s Straits Times Index rose

On Bursa Malaysia, Genting was the top gainer and rose 32 sen to RM10.66, Aeon Credit added 30 sen to RM11, Aeon was up 29 sen to RM9.80, Orient 25 sen to RM6.67, Takaful 21 sen to RM4.17, Metrod,Tasek and Genting PLANTATION []s added 20 sen each to RM2, RM8.87 and RM9.60 respectively, Cybertowers 19. 5 sen to RM1.16 while Lafarge Malayan Cement was up 19 sen to RM7.38.

Naim Indah Corp was the most actively traded counter with 84.41 million shares done. The stock was up six sen to 51.5 sen.

Other actives included Utopia, Ariantec, Metronic, Astral Supreme, BIMB, AWC and Hubline.

Decliners included BAT, Shell, BLD Plantations, Y&G, Top Glove, Cepco, Milux MISC and JT International.



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Syarikat Takaful trades at highest since 1996 IPO

KUALA LUMPUR (May 2) : SYARIKAT TAKAFUL MALAYSIA BHD [] rose as much as 7% to its highest since the Islamic insurer’s initial public offering (IPO) in July 1996 as investors bought the stock before it trades ex-dividend next Monday.

The stock, among top gainers on Wednesday, climbed 29 sen to settle at RM4.25 at lunch break with some 513,000 shares traded. Syarikat Takaful’s IPO about 16 years ago had involved eight million shares at RM2.30 each.

The firm plans to pay a final single-tier dividend of 10% which translates into 10 sen a share for financial year ended December 31, 2011. This brings total gross dividends for the year to 17 sen a share which translates into a 4% yield based on the stock’s latest price.

The final lodgement date for the 10% final single-tier dividend falls on May 9.



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KLCI rises at mid-day break, but struggles to breach 1,580-level

KUALA LUMPUR (May 2): the FBM KLCI rose at the mid-day break on Wednesday in line with the gains at its regional peers, but struggled to cross the crucial 1,580-point mark.

The 30-stock index rose 7.79 points to 1,578.40 at the mid-day break.

Gainers led losers by 315 to 243, while 290 counters traded unchanged. Volume was 680.87 million shares valued at RM542.98 million.

The ringgit strengthened 0.23% to 3.0219 versus the US dollar; crude palm oil futures for the third month delivery rose RM1 per tonne to RM3,445, crude oil fell 22 cents per barrel to US$105.94 and gold lost US$3.25 an ounce to US$1,659.18.

Asian shares edged higher and the dollar recovered against the yen on Wednesday after strong U.S. factory activity data raised hopes that the world's biggest economy remained on a recovery track, according to Reuters.

Factory order data released on Wednesday by Asia's key exporters Taiwan and South Korea showed manufacturing activity grew but at a slower pace, while China's HSBC final PMI reading for April came in slightly above last week's flash PMI, it said.

At the regional markets, Japan’s Nikkei 225 rose 0.38% to 9,386.28, Hong Kong’s Hang Seng Index was gained 1.14% 21,335.60, the Shanghai Composite Index was up 1.58% to 2,434.09, Taiwan’s Taiex jumped 2.11% to 7,660.13, South Korea’s Kospi gained 0.77% to 1,997.32 and Singapore’s Straits Times Index edged up 0.50% to 2,993.60.

On Bursa Malaysia, Aeon Credit was the top gainer at the mid-dat break and rose 32 sen to RM11.02, Takaful up 29 sen to RM4.25, Orient 25 sen to RM6.67, Aeon 19 sen to RM9.70, Genting 18 sen to RM10.52, Tasek 16 sen to RM8.83, Harrisons 15 sen to RM3.23, Cyber Towers 13.5 sen to RM1.10 and BIMB 12 sen to RM2.66.

Utopia was the most actively traded counter with 59.62 million shares done. The stock was unchanged at 8.5 sen.

Other actives included Hubline, BIMB, Naim Indah Corp, Astral Supreme, AWC, Focus and Ariantec.

Decliners included BAT, Dutch Lady, Y&G, Country View, Cepco, PPB, Top Glove, Milux, Shell and UMS.



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KLCI up at mid-day break, moves above 1,570-level

KUALA LUMPUR (April 30): The FBM KLCI brushed off the concerns arising from last weekend’s Bersih 3.0 rally that turned ugly and inched higher on Monday, in line with the gains at most regional markets, lifted by select blue chips in early trade.

The FBM KLCI was up 4.01 points to 1,571.81 at the mid-day break.

Gainers trailed losers by 229 to 285, while 299 counters traded unchanged. Volume was 398.95 million shares valued at RM422 million.

Asian shares rose on Monday as weaker-than-expected U.S. growth data left open the possibility for more monetary stimulus from the Federal Reserve, but trading was subdued with Japanese and Chinese markets closed, according to Reuters.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.12% to 20,974.40, south Korea’s added 0.14% to 1,978.20, while Singapore’s Straits Times Index fell 0.20% to 2,975.62 and Taiwan’s Taiex shed 0.09% to 7,473.49.

MIDF Research in its weekly fund flow analysis said Malaysian stocks continued to attract foreign money last week.

It said foreign investors bought on net basis, Malaysian-listed shares amounted to RM356.1 million compared with RM408.8 million the week before. Foreign investors have now been net buyers of Malaysian stocks for 11 consecutive weeks now.

“We cross over to May this week.

“The adage “Sell in May and go away” is certainly not uncorroborated — the KLCI had recorded negative return for the month in six out of the last 10 years, averaging -3.2%. We therefore begin the month with a historical obstacle to surmount,” it said on Monday.

On Bursa Malaysia, Petronas Dagangan was the top gainer and added 24 sen to RM19.30, Aeon Credit and Nestle gained 20 sen each to RM10.26 and RM55.30, Tasek and Takaful was up 15 sen each to RM8.70 and RM4, Tradewinds PLANTATION []s up 14 sen to RM5.84, Toyo Ink and Carlsberg added 12 sen each to RM1.53 and RM11.60.

Meanwhile, RHB Capital and OSK Holdings rose on gaining the ministry of finance nod for a merger. RHB Capital rose 11 sen to RM7.36 whiel OSK was up 13 sen to RM1.69.

Ariantec was the most actively traded counter with 201.62 million shares done. The stock fell half a sen to 25 sen.

Other actives included Utopia, DRB-Hicom, CSL, Focus, Daya Materials, Bumi Armada and YTL Corp.

Decliners at mid-day included Dutch Lady, Jaya Tiasa, PacificMas, UAC, Amway, Bumi Armada and MMHE.



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KLCI claws back to close higher

KUALA LUMPUR (APRIL 26): The FBM KLCI clawed back to reverse its losses and close higher on Thursday in line with the advance at most key regional markets, on the back of the firmer overnight close at Wall Street and encouraging statements on policy from the US Federal Reserve.

The FBM KLCI rose 0.34 of a point to 1,579.69 at 5pm, clawing back from its intra-day low of 1,577.71.

Market breadth remained weak with 453 losers, 253 gainers and 321 counters trading unchanged. Volume was 1.45 billion shares valued at RM1.46 billion.

Asian shares rose on Thursday, retaining positive momentum as the Federal Reserve reassured markets it would keep its very accommodative stance to support growth, while optimism grew over strong quarterly corporate earnings.

Investor confidence was also boosted by a rally in Apple Inc shares as it reported quarterly profits nearly doubling on the back of soaring iPhone sales in China, lifting tech-heavy Asian markets such as Taiwan and South Korea earlier in the day.

There was scepticism Asian markets would climb as much as their global counterparts did overnight, however, as concerns remain over European banks, with Spain's Santander reporting its first-quarter results later in the session, it said.

At the regional markets, the Hong Kong’s hang Seng Index gained 0.79% to 20,809.71, Japan’s Nikkei 225 edged up 0.01% to 9,561.83, south Korea’s Kospi rose 0.10% to 1,964.04 and Singapore’s Straits Times Index

Meanwhile, Taiwan’s taiex fell 0.55% to 7,521.35 and the Shanghai Composite Index shed 0.09% to 2,40470.

On Bursa Malaysia, United PLANTATION []s led the gainers and was up 44 sen to RM25.94, Panasonic added 40 sen to RM23, BAT up 38 sen to RM55.50, Dutch Lady added 20 sen to RM33.90. Milux 15 sen to RM1.35, KrisAssets and Tradewinds Plantations up 14 sen each to RM6.90 and RM5.70, while Takaful and KPJ Healthcare rose 13 sen each to RM3.80 and RM5.56.

Utopia was the most actively traded counter with 194.51 million shares done. The stock fell half a sen to 9 sen.

Other actives included Ariantec, Metronic, Focus, Naim Indah Corp, SCL, Astral Supreme and ManagePay.

Decliners included Country View, Jaya Tiasa, HLFG, SapuraCrest, Petronas Dagangan, Genting, Kencana, SEGi and Sunway.



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KLCI edges up in early trade in thin volume

KUALA LUMPUR (April 6): The FBM KLCI edged up in early trade on Friday, while regional markets eased with many bourses closed for the Good Friday and Easter weekend.

The FBM KLCI rose 0.67 of a point to 1,594.11 at 9.01am, liftedby elect ble chips.

Gainers led losers by 59 to 16, while 90 counters traded unchanged. Volume was 19.28 million shares valued at RM7.29 million.

Asian shares eased on Friday, when many markets were 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 concern about Europe, according to Reuters.

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

Thursday's data showed U.S. jobless claims fell to the lowest level since April 2008, another positive news following a report on private-sector jobs earlier this week, boding well for the American government's widely watched monthly employment figures due on Friday, said Reuters.

Among the early gainers on Bursa Malaysia, BAT rose 70 sen to RM55.60, Petronas Dagangan added 14 sen to RM18.98, Favelle Favco roe seven sen to RM1.44, Lafarge Malayan Cement and Gopeng six sen each to RM7.13 an 78 sen, Takaful four sen to RM3.74, Hibiscus three sen to RM1.71, Ideal Jacobs 2.5 sen to 19.5 seb and Petra Energy two sen to RM1.08.

Naim Indah Corp was the most actively traded counter with 6.4 million shares done. The stock added half a sen to 49 sen.

Other actives included AirAsia, Jetson, CSL, Tiger Synergy, DBE Gurney and DPS.

Decliners included Airasia, Jetson, CSL, Tiger Synergy, DBE Gurney and DPS.



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KLCI extends loss for second day running

KUALA LUMPUR (APRIL 50): The FBNM KLCI extended its losses for a second day running while most global markets either pared down their losses or reversed earlier retreats on bargain hunting activities.

The FBM KLCI closed 5.83 points lower at 1,593.44, paring down its losses from the earlier intra-day low of 1,591.85.

Losers edged gainers by 352 to 342, while 317 counters traded unchanged. Volume was 1.24 billion share valued at RM1.22 billion.

At the Asian markets, Chinese shares jumped 1.7% the biggest single-day rise since early February led by non-banking financials after Premier Wen Jiabao said the monopoly formed by the country's big banks needed to be broken to get money flowing to cash-starved private firms, according to Reuters.

Hong Kong shares ended a holiday-shortened week weaker on Thursday, dragged by the Chinese financial sector as investors took profit on the final trading day before a four-day holiday weekend and ahead of US jobs data on Friday, it said.

Meanwhile, European shares eked out modest gains on Thursday with investors looking for bargains after three weeks of losses but sentiment remained fragile after lower demand at a Spanish auction rekindled funding concerns for weaker euro zone countries, said Reuters.

At the regional markets, the Shanghai Composite Index rose 1.74% to 2,302.24, South Korea’s Kospi addd 0.50% to 2,028.77 and Singapore’s Straits Times Index xx

Meanwhile, Hong Kong’s Hang Seng Index lost 0.95% to 20,593.00, Japan’s Nikkei fell 0.53% to 9,767.61 and Taiwan’s Taiex fell 1.56% to 7,639.82.

ON Bursa Malaysia, BAT was the top loser and fell 60 sen to RM54.98, GAB lost 20 sen to RM13, Aeon Credit down 15 sen to RM8.74, Milux, F&N and Genting fell 12 sen each to RM1.28, RM18.88 and RM10.96 respectively, MAHB down 11 sen to RM5.76 while Amway fell 10 sen to RM9.80.

Takaful was the top gainer and added 48 sen to RM3.70, Tradewinds PLANTATION []s added 25 sen to RM5.19, Cepco up 24 sen to RM1.79, Tradewinds added 19 sen to RM9.79, Ta Ann 18 sen to RM6.38, Jaya Tiasa 17 sen to RM8.93, Inno 14 sen to RM1.64, Y&G 13 sen to 73 sen, while Shell and Sin Heng Chan added 12 sen each to RM10.30 and RM1.12.

Metronic was the most actively traded counter with 124,92 million shares done. The stock added 2.5 sen to 17,5 sen.

Other actives included Naim Indah Corp, Ariantec, Focus, Carotech, SupertComNet, Ingenuity Solutions, JCY and Key West.



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KLCI ends 1Q on a high

KUALA LUMPUR (March 30): The FBM KLCI ended the first quarter of 2012 on a high note, in line with the global markets that mostly picked up gains at the end of the quarter.

The 30-stock index rose 10.89 points to closet at 1,596.33 on Friday, lifted by blue chips including banking and Petronas-linked stocks.

The closing was just a tad below its all-time high of 1,597.08 that the index rose to on July 11 last year.

Year-to-date, the index racked up 65.6 points from its December 30 close of 1,530.73. Gainers edged losers by 402 to 360, while 334 counters traded unchanged. Volume was 1.25 billion shares valued at RM2.08 billion.

World stocks rose with Europe up more than half a percent on Friday, picking up gains at the end of the quarter and with investors eyeing a boost to the euro zone's bailout resources that ministers are expected to sign off on later in the day, according to Reuters.

Despite the strong quarter, sentiment across asset classes has turned bearish since mid-March due to fears of a slowdown in growth centred on China, and the conviction that a huge injection of central bank money may only be a panacea for Europe's debt troubles, it said.

At the regional markets, the Shanghai Composite Index rose 0.47% to 2,272.79, Taiwan’s Taiex added 0.77% to 7,933.00 and Singapore’s straits Times Index gained

Meanwhile, Japan’s Nikkei 225 closed 0.31% lower at 10,083.56, Hong Kong’s Hang Seng Index fell 0.26% to 20,555.58 while South Korea’s Kospi shed 0.02% to 2,014.04.

Affin Investment Bank Bhd vice president and head of retail research Dr Nazri Khan said that despite pockets of weakness from China market (Shanghai Composite at 10-week low) and soft economic data from the US and Europe, he expects the FBM KLCI to continue market uptrend supported by local liquidity and strong first quarter performance.

“The local market has ample liquidity at the sidelines, accommodative Bank Negara, low interest rates and government commitment for economic project. Plain and simple.

“We also believe the local market will take further cues from a strong USA market,” he said.

He added that there was a fairly reasonable speculative element in the small cap stocks to create some excitement near term (Carotec, Mtronics, Keywest, Focus, Tiger to name a few).

“Though we agree that the local market is overbought and investors may pause after recent sharp gains, we are yet to see any evidence of distribution to suggest serious market wind down in the near term,” he said.

On Bursa Malaysia, KLK was the top gainer and added 46 sen to RM24.60, F&N up 28 sen to RM18.88, Takaful 27 sen to RM3.39, United PLANTATION []s 18 sen to RM24.98, Kossan, Bursa and DiGi added 12 sen each to RM3.35, RM7.38 and RM4.06 respectively.

Among banking stocks, Hong Leong bank gained 24 sen to RM12.62, AMMB 10 sen to RM6.31, CIMB nine sen to RM7.69 and Maybank seven sen to RM8.87.

Among Pertronas-linked stocks, Petronas Dagangan rose 26 sen to RM18.94, Petronas Gas 10 sen to RM16.84 and Petronas Chemicals six sen to RM6.74.

Carotech was the most actively traded counter with 99.63 million shares done.

Other actives included CIMB, Focus, Ariantec, Metronic, YTL, Naim Indah Corp and Key West.

Decliners included Genting, Dutch Lady, sunchirin, Multico, Kulang, Shangri-La, Kulim, Fiamma, Advanced Packaging and TDM.



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KLCI stays above 1,590-level at mid-day break

KUALA LUMPUR (March 30): the FBM KLCI stayed above the 1,590-point level at the mid-day break on Friday, lifted by blue chips including Maybank, CIMB, Petronas gas and KLK.

Meanwhile, Asian shares steadied on Friday as the region's benchmark indices marked their best first quarter in over 20 years and investors awaited a meeting on a possible euro zone firewall and Chinese data that may dictate market trends in coming months.

The FBM KLCI rose 6.44 points to 1,591.88 at the mid-day break.

Gainers trailed losers by 268 to 317, while 354 counters traded unchanged. Volume was 563.26 million shares valued at RM612.26 million.

The ringgit was unchanged at 3.0683 versus the US dollar; crude palm oil futures for the third month delivery fell RM26 per tonne to RM3,430, crudd oil added 62 cents per barrel top US$103.40 while godl shed 45 cents an ounce to US$1660.13.

On Bursa Malaysia, KLK added 42 sen to RM24.56, Takaful up 25 sen to RM3.37, Carlsberg 18 sen to RM10.38, Batu Kawan 14 sen to RM18.74, SEGi 11 sen to RM1.83, Petronas Gss 10 sen to RM16.84, Maybank nine sen to RM8.89, CIMB seven sen to RM7.67 and Ibraco eight sen to RM1.29.

Carotech was the most actively traded counter with 812.94 million shares done. The stiock fell 2.5 sen to 2.5 sen.

Other actives included Metronic, Focus, Key West, Tiger Synergy, SuperComnet, Ariantec, IFCA MSC and CIMB.

Decliners included Dutch Lady, genting, PPB, Shangri-La, TDM, Delloyd, Rapid, HELP, Kluang and Teo Seng.



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Stocks to watch: Gamuda, Syarikat Takaful, Bintai Kinden, WCT

KUALA LUMPUR (March 29) : While trading momentum in the Malaysian stock market has improved, analysts said cautious sentiment ahead of the country’s general election could prompt traders to safeguard their profits against the backdrop of challenging external macro dynamics.

Apart from less optimistic sentiment on economic growth prospects in the US and China, analysts also foresee the return of inflation as a key theme in financial markets, spurred by rising crude oil prices.

“We remain neutral on Malaysia. On the positive side, we currently do not expect its rates to increase, and we like the defensiveness of the market, with about one-third of its total market cap in defensive sectors, such as telecoms and utilities.

“National elections are likely to add to market volatility as well, although we expect the event to be market-neutral,” HSBC Global Research wrote in a note.

The FBM KLCI of 30 stocks erased earlier gains to finish 4.35 points lower at 1,583.75 points on Wednesday.

Stocks to watch on Thursday include GAMUDA BHD [], SYARIKAT TAKAFUL MALAYSIA BHD [], Bintai Kinden Corp Bhd and WCT BHD []. Other companies which could attract interest are NEXTNATION COMMUNICATION BHD [] and ENG TEKNOLOGI HOLDINGS BHD [].

Infrastructure-based Gamuda’s earnings rose 45.1% to RM136.47 million in the second quarter ended Jan 31, 2012 compared with RM94.02 million a year ago.

For the first half, earnings increased by 47.2% to RM268.79 million from RM182.55 million in the previous corresponding period.

Syarikat Takaful’s share price rose 5% or 15 sen to close at RM3.05 after CIMB Equities Research said the Islamic insurance firm should trade higher at RM4.60 in anticipation of its growth potential.

Bintai Kinden and joint venture partner Samsung C&T Corp have clinched S$166.24 million (about RM405 million ) worth of projects from Singapore’s Land Transport & Authority.

The jobs include the supply and installation of electrical services apart from tunnel ventilation and environmental control systems

Singapore-based Oversea-Chinese Banking Corp Ltd has emerged as a substantial shareholder in CONSTRUCTION [] firm WCT Bhd after acquiring a 5.01% stake in the builder.

Nextnation plans to raise up to RM15.49 million under a private placement of 137.21 million new shares to finance the telecommunication software developer’s commercial land acquisition, and capital needs. Trading of Nextnation shares were suspended from 2.30pm to 5pm on Wednesday.

The board of Eng Teknologi has accepted the revised takeover offer of RM2 a share by the founders and major shareholders of the hard disk drive component manufacturer.

SYF RESOURCES BHD [] swung into the black with net profit of RM3.22 million in the second quarter ended Jan 31, 2012 compared with net losses of RM431,000 a year ago due to higher sales with lower raw material costs.

For the first half ended Jan 31, 2012, it posted net profit of RM42.46 million compared with net loss of RM1.01 million in the previous corresponding period.



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Limited gains for KLCI at mid-morning

KUALA LUMPUR (March 28): Gains were limited for the FBM KLCI at mid-morning on Wednesday in line with the tepid trade at key after US stocks retreated from near four-year peaks on Tuesday.

At 10.05am, the FBM KLCI edged up 1.32 points to 1,589. Gainers trailed losers by 169 to 213, while 223 counters traded unchanged. Volume was 386.01 million shares valued at RM126.19 million.

Asian shares drifted lower on Wednesday as investors waited for more clues on the state of the U.S. economy, after hopes for further stimulus from the U.S. Federal Reserve strengthened risk appetite and lifted prices the previous session, according to Reuters.

At the regional markets, Japan’s Nikkei 225 fell 0.95% to 10,158.20, Hong Kong’s Hang Seng Index losr 0.43% to 20,965.60, the Shanghai Composite Index was down 0.56% to 2,333.96, South Korea’s Kospi fell 0.23% to 2,035.05, singapore’s Straits Times Index lost 0.38% to 3,007.52 and Taiwan’s taiex shed 0.09% to 8,022.45.

BIMB Securities Research in a note March 28 said that after a triple digit jump on Monday, the Dow Jones Industrial Average retreated 44 points to a tad below the 13,200 support mark as traders took stock of recent developments and stay sidelined waiting for fresh catalysts.

Meanwhile, European bourses closed mostly lower reacting to the slight decline in the US consumer confidence level, it said.

The research house said that it was a good day for Asian markets as most ended up higher taking cue from the uptrend on Wall Street.

Locally, the FBM KLCI rebounded 5 points to close just below the resistance of 1,590, it said.

“We believe the benchmark index is all set to break its all time high of 1,597 soon and thereafter test the strong psychological level of 1,600.

“We strongly believe the uptrend remains intact as foreign participation again was a positive RM324 million yesterday amounting to almost RM4.5 billion year-to-date. Meanwhile, the date of GE13 is still highly speculative with the latest one touted at September,” it said.

On Bursa Malaysia, Dutch Lady rose 60 sen to RM32.60, Takaful added 11 sen to RM3.01, Petronas Gas and PPB rose eights en each to RM16.98 and RM16.48, Bintulu Port up seven sen to RM6.90, while TDM, Kulim, Sin Heng Chan and BIMB rose six sen each to RM4.83, RM4.20, RM1.06 and RM2.36 respectively.

SuperComnet was the most actively traded counter with 49 million shares done. The stock fell 12.5 sen to 23.5 sen.

Other actives included Utopia, Metronic, Silver Bird, Ariantec and Maxtral.

Decliners included United PLANTATION []s, Supercomnet, MISC, Batu Kawan, Parskson, Ivory, Hing yap, Top Glove, MSM and AIC.



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Syarikat Takaful shares rise 4% on growth potential

KUALA LUMPUR (March 28) : SYARIKAT TAKAFUL MALAYSIA BHD [] rose 4% or 12 sen to RM3.02 after CIMB Investment Bank Bhd said the Islamic insurance firm should trade higher at RM4.60 in anticipation of its growth potential.

In a note on Wednesday, CIMB said Syarikat Takaful, deemed an undervalued stock, may grow at a faster pace than the industry’s expansion rate of 20% within the next five years. This will be, partially, helped by the insurer’s venture in Indonesia, according to CIMB.

“The average daily trading volume for Syarikat Takaful is only 192,000 shares year-to- date. We believe that this is mainly due to the lack of coverage by analysts and hence, the poor awareness of the group’s bright earnings prospects,” CIMB said.

The research house said Syarikat Takaful may register an earnings per share growth of 25% in financial years ending Dec 31, 2012 and 2013, helped by the insurer’s family and general schemes beside its stable claims ratio.



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KLCI closes higher, but stays shy of 1,590-level

KUALA LUMPUR (March 27): the FBM KLCI recovered some lost ground and closed higher on Tuesday, in line with the overall improved sentiment at key regional markets.

However, the index stayed shy of breaching the 1,590-level for long.

The FBM KLCI was up 5.12 points to close at 15,88.10, lifted by gains at select blue chips. The index had earlier risen to its intra-day high of ,591.03.

Gainers led losers by 389 to 381, while 337 counters traded unchanged. Volume was 1.94 billion shares valued at RM1.66 billion.

Asian stocks rebounded, with Japan's Nikkei hitting a one-year high, and the dollar struggled on Tuesday after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment, according to Reuters

Europe's major equity markets were also poised for gains, with Euro STOXX 50 index futures opening up 0.7 percent, while financial spreadbetters called London's FTSE to start trading 0.2-0.3 percent higher, it said.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.69% to 21,017.13, Japan’s Nikkei 225 gained 2.36% to 10,255.15, South korea’s Kospi was up 1.02% to 2,039.76, Taiwan’s Taiex rose 0.78% to 8,029.46 and Singapore’s Straits Times Index…

On Bursa Malaysia, Dutch Lady was the top gainer and rose 60 sen to RM32, F&N added 24 sen to RM18.50, Petronas Dagangan added 22 sen to RM18.70, Malayan Flour Mills 21 sen to RM4.65 and KLK 20 sen to RM24.06.

Aeon Credit, Takaful and HLFG added 18 sen each to RM8.88, RM2.90 and RM12.30 respectively, while Petronas Gas and Genting PLANTATION []s gained 16 sen each to RM16.90 and RM9.41.

Metronic was the most actively traded counter with 280.1 million shares done. The counter gained four sen to 24.5 sen.

Other actives included Ariantec, Supercomnet, Naim Indah Corp, Focus, Frontken, Oversea Enterprise and TMS.

Among the decliners, Aeon fell 25 sen to RM9.15, Bintulu Port 17 sen to RM6.83, Allianz 12 sen to RM4.70, AirAsia 11 sen to RM3.35, Top Glove 10 sen to RM4.55. P.I.E., TDM, MISC and Sunway fell nine sen each to RM4.81, RM4.77, RM5.29 and RM2.62 respectively.



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KLCI closes marginally higher, stays above 1,580-level

KUALA LUMPUR (March 22): the FBM KLCI closed marginally higher on Thursday in line with the mostly mixed regional markets.

However, European stocks slipped on Thursday, keeping the benchmark world equity index below recent eight-month highs, while the dollar was weaker against the yen as data showing China's factory activity shrank renewed concerns about global growth, according to Reuters.

The HSBC flash PMI, the earliest indicator of China's industrial activity, fell to 48.1 in March from February's four-month high of 49.6, with new orders sinking to a four-month low, it said.

It raises the prospect for a further monetary policy easing to help underpin growth, although lingering inflation risks put Beijing's policymakers in a dilemma, it said.

The 30-stock FBM KLCI closed 0.71 of a point higher at 1,583.24, lifted by select blue chips including KLK and Tenaga. Losers overtook gainers by 379 to 363 whie 360 counters traded unchanged. Volume was 2.86 billion shares valued at RM1.5 billion.

At the regional markets, the Shanghai composite Index shed 0.10% to 2,375.77, Singapore’s Straits Times Indexwas down 0.74% to 2,983.48 and South Korea’s Kospi was down 0.05% to 2,026.12.

Elsewhere, Hong Kong’s Hang Seng Index gained 0.22% to 20,901.56, Japan’s Nikkei 225 added 0.40% to 10,127.08 and Taiwan’s Taiex rose 0.98% to 8,059.94.

KLK was the top gainer and added 40 sen to RM23.82, Takaful rose 23 sen to RM2.65, Cybertowers and Jaya Tiasa up 19 sen each to 54 en and RM7.69, MHC PLANTATION []s up 17 sen to RM1.77, Southern Acids 15 sen to RM2.50, Sunchirin and Tenaga 13 sen each to RM1.55 and RM6.71, while Litrak gained 11 sen to RM4.10.

Metronic was the most actively traded counter with 347.7 million shares done. The stock was unchanged at 25.5 sen.

Other actives included Utopia, Ingenuity Solutions, Ariantec, Flonic, DBE Gurney, Hubline and Naim Indah Corp.

Decliners included Lafarge Malayan Cement, PPB, United Plantations, Nestle, Hightec, Kulim, RHB Capital and IOI Corp.



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KLCI stages slight rebound at mid-morning

KUALA LUMPUR (March 8): The FBM KLCI ticked upward at mid-morning on Thursday, in line with the gains at key regional markets following the firmer overnight close at Wall Street and European markets.

Asian shares and the euro recovered on Thursday on brightening prospects for Greece to secure a crucial bond swap to avoid a messsy default and U.S. data suggesting a recovery in the labour market ahead of key jobs figure, according to Reuters.

Greece's debt swap deal and Friday's U.S. nonfarm payrolls data are seen as a test case for gauging whether markets can build on the optimism of recent months and overcome patchy growth figures which have dented sentiment, it said.

Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note to clients Thursday said that despite the US market’s rebound last night, the local bourse could be in for a range-bound day.

“From the 1,310.53 low (Sept 2011), the market burst past its 1,530.73 resistance to stall just short of the 1,596.08 all-time high, at 1,594.72.

“Bearish divergence is ample and despite the DJIA’s overnight rebound, today’s minor rise could be a great opportunity to selli in the initial “Dead Cat BOUnce”, he said.

Lee said some of the trading stocks favoured by Maybank IB Research included BUMI Armada, Brahims, Dayang, JOHORe Tin, Telekom and Zelan.

On Bursa Malaysia, the FBM KLCI edged up 2.66 points to 1,577.49 at 10.30am, lifted by gains at select blue chips.

Gainers led losers by 166 to 270, while 271 counters traded unchanged. Volume was 480.79 million shares valued at RM338.90 million.

At the regional markets, Japan’s Nikkei rose1.06% to 89677.5, HONG KONG’s Hang Seng Index adde 0.47% to 20,725.00, the Shanghai Composite Index gained 0.61% to 2,409.44, Taiwan’s Taiex added 0.29% to 7,926.16, South Korea’s Kospi edged up 0.09% to 1,983.97 and Singapore’s Straits Times Index up 0.78% to 2,935.94.

Among the gainsrs, SPK added 11.5 sen tp 41.5 sen, Sungei Bagan up 11 sen to RM2.99, Carlsberg, Takaful and Petronas Gas up 10 sen each to RM10.50, RM2.28 and RM16.82 respectively, Sime Darby up nine sen to RM9.89, United PLANTATION []s, TONG Herr eight sen each to RM24.48 and RM2.44, while Orient rose seven sen to RM6.35.

Naim Indah CORP was the most actively traded counter with 131.1 milliion shares done. The stock fell one sen to 64.5 sen.

Other actives included HWGB shares and warrants, IRios Corp, Asia Media, Winsun, CSL< IFCA MSC and Gocean.

Among the decliners this morning, LYsaght fell 32 sen to RM2.08, HONG Leong Bank and KLK dow eight sen each to RM12.30 and RM23.20, Perduren 5.5 sen to 75 sen, Sunchirin, Merge, NOTion warrants, Tecnic and CBIP added four sen each to RM1.36, 23 sen, 42.5 sen, RM3.68 and RM2.43 respectively.



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Stocks to watch: Padini, Silver Bird, Pelikan, WinSun

KUALA LUMPUR (March 8): Malaysian stocks could be in for further profit taking on Thursday as the European debt crisis continues to take centre stage in global financial markets .

Key regional markets fell on Wednesday as investors were kept vigilant on the status of Greece’s debt relief scheme. The FBM KLCI fell 0.95% or 15.08 points to finish at 1574.83 points, the biggest one-day decline this year. However, year-to-date, it is up 3%. FBM KLCI futures closed seven points down to 1575.5.

Private holders of Greek government bonds have until Thursday night to voluntarily swap their bonds for new ones. The bond swap is vital to help Greece to obtain bailout funds, without which the country may default on its debt obligations this month. A default could have a negative impact on global financial markets.

Weakness across major importing countries in Europe, and China has already been reflected in Malaysia’s latest trade numbers.

Malaysia’s January exports grew at slower year-on-year pace of 0.4 % as shipments of electrical and electronic and commodity-based products to China and Europe declined. This compares to December 2011’s export growth of 6.1%.

Stocks on watch on Thursday are PADINI HOLDINGS BHD [], SILVER BIRD GROUP BHD [], Pelikan International Corporation Bhd and WINSUN TECHNOLOGIES BHD []. Other stocks which could see trading interest are SYARIKAT TAKAFUL MALAYSIA BHD [] and Brahim’s Holdings Bhd.

AmResearch Sdn Bhd initiated coverage on Padini, an apparel maker with a Buy call and target price of RM1.80. Padini shares closed unchanged at RM1.48 on Wednesday. The stock had earlier traded to a fresh intraday high of RM1.49.

The research house said Padini’s market capitalisation, which is approaching RM1billion, will improve the stock’s visibility among institutional funds. Despite its strong share price performance, Padini’s valuation is undemanding in anticipation of the firm’s earnings growth, according to the research firm.

Bread manufacturer Silver Bird was the third most actively traded stock on Wednesday on speculation that Fraser & Neave Holdings Bhd chief executive officer Datuk Tan Ang Meng may be roped in to lead Silver Bird.

This follows news of alleged financial irregularities at the bread manufacturer. However,Tan has denied the speculation. Silver Bird shares rose 4.5 sen to finish at 23 sen.

Pelikan plans to reward its shareholders with one treasury share for evey 50 existing shares held for FY ended Dec 31, 2011. The board also recommended a final cash dividend of one sen per share single tier dividend.

Industrial automation systems entity Winsun Technologies Bhd secured a letter of intent from Ningbo Shanghao which has indicated its intention to buy from Winsun 60,000 tonnes of iron ore a month for a duration of two (2) years. Winsun shares closed 0.5 sen higher at 17 sen.

Brahim’s whose shares closed 8% higher at RM1.23, announced that it had fixed the issue price for its 17.9 million new placement shares at RM1.10. This translates into gross proceeds of close to RM20 million should all the new securities placed out.

Syarikat Takaful Malaysia Bhd could also draw interest after its managing director Datuk Hassan Kamil indicated the Islamic insurer’s plans to further grow earnings in key market Indonesia for the long term. The stock rose seven sen or 3.3% to close at RM2.18.



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KLCI dips at mid-morning, sentiment continues to be jittery

KUALA LUMPUR (Jan 10): The FBM KLCI fell at mid-morning on Tuesday amidst lackluster trade, weighed by losses at select blue chips including Genting-related stocks.

The FBM KLCI shed 0.61 of a point to 1,521.12 at mid-morning.

Losers edged gainers by 195 to 189, while 260 counters traded unchanged. Volume was 412.49 million shares valued at RM268.33 million.

Asian shares and the euro rose on Tuesday, but concerns over funding of euro zone sovereigns ahead of key auctions this week and of the debt crisis spilling over into the wider financial system kept investors cautious about taking riskier positions, according to Reuters.

With European woes overshadowing recent positive economic data from the United States, market players will be seeking from Chinese trade data due later in the session signs of how the euro zone debt crisis is affecting Asian growth, it said.

At the regional markets, Japan’s Nikkei 225 rose 0.41% to 8,424.47, South Korea’s Kospi gained 1.67% to 1,856.98, Taiwan’s Taiex was up 1.08% to 7,169.96, Singapore’s Straits Times Index gained 0.44% to 2,703.07, the Shanghai Composite Index edged up 0.28% to 2,232.11 and Hong Kong’s Hang Seng Index added 0.09% to 18,882.63.

MIDF Research acting head of equity Syed Muhammed Kifni said the market was expected to remain jittery going forward with the possibility of the KLCI re-testing its 2011 lows.

Nonetheless, he said that the Euro debt issue would begin to show credible signs of healing later in the 1H2012, adding that when that transpires, the underperforming indices can be expected to show swifter resurgence on the way up.

In contrast, the KLCI is anticipated to experience relative underperformance during the recovery phase, he said.

“With that in mind, we reiterate our KLCI year-end 2012 base case target of 1,530 points.

“As our base case KLCI year-end target for this year virtually matched its 2011 close, in our view, 2012 may quintessentially be a consolidation year.

Among the losers at mid-morning, Genting lost 12 sen to RM11.02, Genting PLANTATION []s down 10 sen to RM8.80, BHIC nine sen to RM3.70, KPJ eight sen to RM4.18, BLD Plantations seven sen to RM7.956, JCY six sen to RM1.05. Paragon 5.5 sen to 24.5 sen, while Tradewinds and Kian Joo lost five sen each to RM9.73 and RM2.07.

Takaso was the most actively traded counter with 41.99 million shares done. The stock gained 2.5 sen to 26.5 sen.

Other actives included KHSB, JCY, Harvest Court, Focus and Ingenuity Solutions.

Gainers included United Plantations, Petronas Dagangan, Petronas Gas, Harvest Court, BAT, CBIP and Mudajaya.



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BSN: Takaful products to up revenue

Bank Simpanan Nasional (BSN) expects its wealth management division to contribute up to 15 per cent of the bank's revenue next year, driven by new product launches and increasing demand for takaful products.

Deputy Chief Executive Winston Emmanuel Jeyaprakash said the expectation was based on the low penetration rate of takaful products compared to the high number of Muslim customers in the bank.

"We would like to offer takaful products because almost 80 per cent of our clients are Muslims. I think takaful will be very lucrative revenue for us to tap as an additional income stream," he told reporters at the official launch of the Giro Takaful Hajj in Kuala Lumpur today.

Giro Takaful Hajj is a takaful plan, launched in collaboration with Prudential BSN Takaful Bhd (PruBSN), to provide protection and savings for future Hajj and Umrah pilgrims.

Jeyaprakash said the product would complement the individual's savings for the Hajj by providing customers with additional savings and takaful protection.

Meanwhile, PruBSN chief executive officer, Azim K Mithani said with the new product, the partnership between the two companies, has now six takaful products available, providing a strong foundation for future growth.

"Building on the relationship with BSN as a shareholder and distributor is crucial and vital towards growing our Bancatakaful business, while in line with PruBSN's aspiration to be the number one local takaful operator," he added.

Azim said moving forward, the collaboration is expected to launch more takaful products early next year, but declined to reveal details. -- Bernama



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Takaful 9-month profit jumps to RM60m

Syarikat Takaful Malaysia Bhd's profit before zakat and taxation increased 81 per cent to RM60 million, for the nine months ended 30 Sept, 2011 as compared with RM33.2 million last year.

The group operating revenue for nine months increased by 18 per cent to RM1.04 billion from RM889 million in the same period of the preceding year.

Its group managing director, Datuk Mohamed Hassan Kamil attributed the growth to the General Takaful and Group Family Takaful businesses. "Our investments also performed well for the nine months despite the market correction in the third quarter.

"Our track record in managing the internal takaful funds clearly indicate our ability to outperform the market for investment linked shariah funds," he said in a statement today.

Takaful Malaysia had recently declared an interim dividend of seven per cent. This comprised five per cent less 25 per cent taxation and two per cent single tier, which will result in a payout on Dec 2, 2011 amounting to RM9.36 million in respect of the financial year ending Dec 31, 2011. -- Bernama



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