Weaker regional sentiment weighs KLCI down

KUALA LUMPUR (May 11): The weaker investor sentiment at regional markets weighed on the FBM KLCI and led the benchmark index lower at the mid-day break on Friday.

Asian shares slid on Friday, spawning declines in other risk assets, as deepening political turmoil in the eurozone fuelled concerns about global growth and a huge loss from JPMorgan added to jittery sentiment, according to Reuters.

At the mid-day break, the FBM KLCI fell 1.14 points to 1,586.92.

Losers led gainers by 362 to 176, while 330 counters trade unchanged. Volume was 475.81 million shares valued at RM374.95 million.

The ringgit weakened 0.15% to 3.0725 versus the greenback, crude palm oil futures for the third month delivery fell RM41 per tonne to RM3,299, crude oil lost US$1.27 (RM3.90) per barrel to US$95.81 and gold fell US$9.25 an ounce to US$1,584.77.

At the regional markets, Japan's Nikkei 225 fell 0.48% to 8,966.10, Hong Kong's Hang Seng Index fell 1.18% to 19,989.50, the Shanghai Composite Index shed 0.25% to 2,404.31, Taiwan's Taiex fell 1.23% to 7,391.94, south Korea's Kospi lost 1.37% to 1,918.33 and Singapore's Straits Times Index was down 0.72% to 2,882.77.

On Bursa Malaysia, PPB was the top loser in the morning session and fell 34 sen to RM16.14, BAT lost 30 sen to RM53.70, United PLANTATION []s down 24 sen to RM26.26, GAB 22 sen to RM13.40, Southern Acids 19 sen to RM2.26, Tasek 17 sen to RM9.19, while Milux, Shell and Far East lost 10 sen each to RM1.18, RM9.90 and RM7.55 respectively.

Harvest Court was the most actively traded counter, with 37.29 million shares done. The stock fell 4.5 sen to 58 sen.

Other actives included Utopia, Focus, Ariantec, Permaju, LFE Corp, Naim Indah Corp, CSL, Winsun and Metronic.

Gainers included SAM Engineering, Aeon Credit, Aeon, Tahps, Binutulu Port, BLD Plantations, Malpac and Fiamma.



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KLCI crosses 1,590-level as blue chips lift

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

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

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

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

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

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

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

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

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

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



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KLCI stays in the black at mid- day break

KUALA LUMPUR (May 8): The FBM KLCI reversed its earlier losses and stayed in positive territory at the mid-day break on Tuesday, in line with most key regional markets that shrugged off jitters from a day earlier following election results in Greece and France.

The FBM KLCI added 2.75 points to 1,587.62 at the mid-day break, lifted by gains at select blue chips.

Gainers outpaced losers by 302 to 272, while 332 counters traded unchanged. Volume was 620.94 million shares valued at RM467.71 million.

The ringgit strengthened 0.01% to 3,0543 versus the US dollar; crude palm oil futures rose RM28 per tonne to RM3,374, crude oil shed two cents per barrel to US$97.92 and gold fell US$1.63 an ounce to US$1,636.93.

Shares recovered on Tuesday from the previous day's plunge, as sentiment improved on hopes Spain would use public funds to bolster its struggling banks, although persistent wariness over Greece weighed on the euro, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent, having slid more than 2 percent the day before for its worst daily fall in about five months and hitting its lowest in about three months, it said.

At the regional markets, Japans’ Nikkei 225 gained 0.68% to 9,180.87, South Korea’s Kospi added 0.50% to 1,966.13, Singapore’s Straits Times Index was up 0.42% to 2,937.16 and Taiwabn’s Taiex edged up 0.13% to 7,548.19.

Meanwhile, the Shanghai Composite Index lost 0.65% to 2,435.90 and Hong Kong’s Hang Seng Index shed 0.05% to 20,525.90.

On Bursa Malaysia, BAT was the top gainer and rose 70 sen to RM55.86, Kulim 24 sen to RM4.48, Tasek 20 sen to RM9.23, Ekovest 17 sen to RM2.65, MSM 16 sen to RM5.34, Atlan 13 sen to RM4.39, Tong Herr and Permaju 11 sen each to RM2.51 and 84 sen, whiel Nakamichi and Multico added 10 sen each to 76 sen and RM1.25.

Menawile, Genting rose eight sen to RM10.64, Genting PLANTATION []s six sen to RM9.50 and Petronas Chemicals up three sen to RM6.58.

TMS was the most actively traded counter with 41.34 million shares done. The stock added half a sen to 9.5 sen.

Other actives included Sanbumi, Ariantec, JCY, Permaju, Naim Indah Corp and Metronic.

Decliners in the morning session included Jaya Tiasa, Toyo Ink, Lafarge Malayan Cement, PPB, JCY, Sarawak Oil Palms, IJM Land, MMHE, Texchem and OIB.



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KLCI 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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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 inches higher at mid-morning, brushes off concerns after Bersih rally

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

At 10am, the FBM KLCI was up 3.64 points to 1,571.44.

Gainers led losers by 184 to 151, while 202 counters traded unchanged. Volume was 183.93 million shares valued at RM115.43 million.

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

Global stocks ended higher on Friday on strong earnings reports, while the dollar dipped as data showed growth in the U.S. economy cooled in the first quarter to a 2.2% annual growth rate, below a 2.5% forecast, feeding views that the Fed could ease policy further to boost growth, it said.

At the regional markets, Hong Kong’s Hang Seng Index rose 1.12% to 20,973.80, South Korea’s Kospi added 0.44% to 1,984.09, while Singapore’s Straits Times index fell 0.20% to 2,975.60 and Taiwan’s Taiex shed 0.27% to 7,460.38.

Maybank Investment Bank Bhd in a market strategy note Monday maintained its Neutral stance on the FBM KLCI and said it expects the market to continue pricing in political concerns ahead of the 13th General Elections (13GE).

It said last Saturday's Bersih 3.0 rally had thrown up the possibility of the 13GE being deferred.

“On the external front, renewed concerns over the Eurozone imply heightened volatility again for equity markets.

“Against such a backdrop, we expect domestic equities to stay range bound ahead of the 13GE, and advise investors to stay selective in their picks,” it said.

BIMB Securities Research said on Monday that in the US solid corporate earnings, improving economic growth and employment had kept investors upbeat on equities hence the higher closing for the Dow Jones Industrial Average at 13,228 (+24 points).

Meanwhile European bourses all closed higher possible on a rebound after an eventful week, it said.

“We believe this as a lull before the storm as the situation in Spain is ripe for traders to manufacture more volatility ahead.

“To recap, the country recently was downgraded by the S&P and recently reported its unemployment rate of 24.4% for 1Q12 should become as a main target to derail sentiments, it said.

The research house said Asian markets were weaker possibly spooked by the situation in Spain amid profit taking activities.

“Locally, the FBM KLCI fell almost 12 points to 1,567 ahead of the Bersih 3.0 Rally as investors continue to pare down their holdings.

“We believe outlook for the local bourse has deteriorated for the 2Q12 unless corporate earnings for the 1Q excel. Next support is seen at 1,560,” it said.

Among the gainers on Bursa Malaysia at mid-morning, Chin Teck added 29 sen to RM9.30, Aeon Credit and Petronas Dagangan up 22 sen each to RM10.38 and RM19.28, Tasek 21 sen to RM8.76, UMW and Carlsberg 14 sen each to RM7.97 and RM11.62, Genting PLANTATION []s 13 sen to RM9.52, Toyo Ink and KLK 12 sen each to RM1.53 and RM23.82, while Petra Energy added 11 sen to RM1.27.

Utopia was the most actively traded counter with 178.28 million shares done. The stock was unchanged at 8.5 sen.

Other actives included DRB-Hicom, XDL, CSL, Berjaya Corp. Daya Materials, Metronic and Oversea.

Decliners included PacificMas, Bumi armada, Dutch Lady, IJM Plantations, Sarawak Plantations, Batu Kawan, GAB and Gadang.



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KLCI advances, BAT, KLK higher

KUALA LUMPUR (March 20): Blue chips advanced in early trade on Tuesday, with BAT and KL Kepong among the top gainers, on mild fund-buying while the broader market reflected slight upward bias.

At 10.03am, the KLCI was up 4.16 points to 1,577.76. Turnover was 614.96 million shares valued at RM215 million. There were 205 gainers, 180 losers while 275 counters were unchanged.

HwangDBS Vickers Research said the KLCI may still range-bound between the immediate support and resistance levels of 1,555 and 1,580 for the moment.

“Meanwhile, continuing from where it left off in recent times, the list of most actively traded stocks would continue to be hogged by the second and third liners,” it said.

BAT was the top gainer, adding 22 sen to RM52.60, KLK 20 sen to RM23.52, Tasek 12 sen to RM8.70 and Petronas Gas 12 sen also to RM16.52 while Lafarge Cement added eight sen to RM7.16.



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KLCI up 0.6% at mid-morning

KUALA LUMPUR (March 14): The FBM KLCI rose at mid-morning on Wednesday, in line with the improved sentiment at key regional markets following the firmer overnight close at Wall Street.

At 10am, the 30-stock index was up 9.18 points to 1,573.20. Gainers led losers by 326 to 106, while 223 counters were traded unchanged. Volume was 246.15 million shares valued at RM221.51 million.

Asian shares rose on Wednesday as upbeat US economic data boosted investors' risk appetite, while reduced expectations for further monetary easing from the Federal Reserve underpinned the dollar, according to Reuters.

At the regional markets, Japan’s Nikkei 225 rose 1.92% to 10,089.60, Hong Kong's Hang Seng Index gained 0.96% to 21,544.50, the Shanghai Composite Index edged up 0.18% to 2,460.12, Taiwan’s Taiex rose 0.60% to 10,489.60, South Korea’s Kopsi rose 1.28% to 2,051.03 and Singapore’s Straits Times Index added 0.95% to 3,017.49.

BIMB Securities Research said US stocks climbed sharply overnight, pushing the major averages to multi-year highs since 2007 backed by stronger US economy; improved retail sales and recovering banking sector.

The S&P 500 rose 1.8 percent to 1,395.95 while the Dow added 217.97 points to 13,177.68. The rally picked up speed in the final hour after JPMorgan Chase boosted its dividend and announced a US$15 billion buyback, said the research house.

Over in Europe, shares climbed to their highest in more than seven months boosted by encouraging economic data from Germany and the US.

“Domestically, the FBM KLCI closed flat (on Tuesday) just below the 1,565 support level; nonetheless net foreign trading participation remains positive at RM77.7 billion," it said.

BIMB Research said the strong rally over in US and Europe might boost sentiment on the local market and it expected the KLCI might test the immediate 1,570.

On Bursa Malaysia, BAT was the top gainer, up RM1.48 to 54.28, Hwatai 19.5 sen to 74 sen, Toyo Ink 19 sen to RM1.63, Genting PLANTATION []s 17 sen to RM9.40, UMW 16 sen to RM7.27.

Shell and Tasek gained 10 sen each to RM10.10 and RM8.70, while Ta Ann and AirAsia added nine sen each to RM5.69 and RM3.63.

Sin Heng Chan, which fell earlier following a query by Bursa Malaysia Securities over its unusual market activity on Tuesday, rose 16 sen to RM1.25,

Naim Indah Corp was the most active counter with 43.99 million shares done. The stock fell three sen to 65.5 sen.

Other actives included Euro Holdings, FFHB, Sinh Heng Chan, Winsun, Silver Bird, Hwatai, YTL and CAM Resources.

Decliners included Quality Concrete, Sunchirin, MISC, LTKM, Gadang, PFCE, UPA Corp and Selangor Dredging.



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KLCI slips into the red at closing

KUALA LUMPUR (March 13): The FBM KLCI slipped into negative territory in late trade on Tuesday, weighed by losses at select blue chips including banking stocks, MISC and Tenaga as the pullback from Monday did not seem to be over as investors turned cautious.

The FBM KLCI closed 0.73 of a point lower at 1,564.02. Losers beat gainers by 469 to 288, while 329 counters traded unchanged. Volume was 1.16 billion shares valued at RM1.47 billion.

At the regional markets, the Shanghai Composite Index fell 0.19% to 2,434.86. However, Hong Kong’s Hang Seng Index rose 0.97% to 21,339.70, Japan’s Nikkei 225 added 0.09% to 9,899.08, Singapore’s Straits Times Index 0.89% to 2,988.57, South Korea’s Kospi 1.13% to 2,025.04 and Taiwan’s Taiex 1.31% higher at 8,031,51.

European shares gained on Tuesday on hopes German and U.S. data will support rising hopes of an economic recovery ahead of a monetary policy statement by the Federal Reserve, according to Reuters.

Among the decliners on Bursa Malaysia, United PLANTATION []s fell 16 sen to RM24.82, MISC, Tasek, Advanced Packaging, lost 15 sen each to RM5.10, RM8.60 and RM1.30 while Tenaga was down 13 sen to RM6.32.

BLD Plantations and Panasonic lost 12 sen each to RM9.18 and RM22.08, while Padini and Oriental Holdings fell 11 sen each to RM1.45 and RM6.13.

Among banking stocks, Public Bank fell eight sen to RM13.66, BIMB down six sen to RM2.27, Hong Leong Bank four sen to RM12.10, CIMB three sen to RM7.26 and RHB Capital one sen to RM7.79.

Naim Indah Corp was the most active with 176.5 million shares done. The stock fell four sen to 78.5 sen.

Other actives included IFCA MSC, Takaso, Winsun, YTL, HWGB, Silver Bird, and XDL.

Meanwhile, gainers included BAT, Sin Heng Chan, Euro Holdings, TSH, Petronas Chemicals, Tradewinds Plantations and Manulife.



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KLCI bucks key regional markets

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

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

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

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

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

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

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

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

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

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

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

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

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

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



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KLCI nears all-time high, Sime, CIMB lead

KUALA LUMPUR (March 5): The KLCI got off on a firm start on Monday, with the 30-stock index nearing the all-time high of 1,594 reached in July 2011.

The advance in the KLCI was driven by heavyweights Sime Darby and CIMB, as they extended their gains from last week on buying by fund managers following more upside for both companies.

At 10.49am, the KLCI was up 8.87 points to 1,592.65. Turnover was 496.51 million shares valued at RM444.84 million. There were 363 gainers, 209 losers and 268 stocks unchanged.

Maybank Investment Bank Research said it was lifting 2012 year-end KLCI target to 1,565 on raised market earnings post 4Q11 corporate results reporting and after imputing a higher crude palm oil average selling prices expectation.

“While corporate earnings outlook seems to have stabilised and a crisis appears to have been averted in the Eurozone, rising crude oil prices is a new concern, while on the domestic front, the 13th general election will lend to cautiousness,” it said.

Aeon was the top gainer, up 38 sen to RM9.38 while Tasek added 30 sen to RM9.11 and Oriental Holdings 25 sen to RM6.47. Other gainers were Can-One, up 20 sen to RM1.99, Panasonic 16 sen to RM22.16 and GAB 14 sen to RM13.64.

Sime Darby rose 16 sen to RM10.14 and CIMB 15 sen to RM7.48.

JP Morgan Research said Sime Darby remained its top large-cap Asean PLANTATION []s pick. It said Sime's 2QFY12 core net profit of RM1.032 billion (up 18% on-year) came in 12% ahead of consensus expectations of RM922 million.

Last Thursday, CIMB had signed an MoU for the proposed acquisition of cash equities, equity capital markets and corporate finance businesses of The Royal Bank of Scotland in Asia Pacific.



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Late buying pushes KLCI firmly into positive zone

KUALA LUMPUR: Late buying on index-linked stocks pushed the FBM KLCI firmly into the positive zone on Monday while the broader market saw some profit taking activities on recent gainers, which was in line with some key regional markets.

The surprise stimulus move in China and signs Greece would secure a long-awaited bailout deal helped underpin sentiment for blue chips.

At 5pm, the FBM KLCI was up 3.42 points or 0.22% to close at 1,560.57, nudged up gains in by Maybank and BAT. Volume was 1.86 billion shares traded valued at RM1.61 billion. Losers led gainers 469 to 349, while 339 counters remained unchanged.

Japan's Nikkei 225 was up 1.08% to 9,485.09, Taiwan's Taeix rose 0.77% to 7,954.82, Singapore's Straits Index 0.69% to 3,021.19, Shanghai's Composite Index 0.27% to 2,363.60 and South Korea's Kospi up marginally 0.07% to 2,024.90. Only Hong Kong's Hang Seng Index was in the red, down 0.31% to 21,424.79.

At Bursa Malaysia, the KLCI was supported by gains in Maybank, which rose five sen to RM8.61 and managed to nudge the 30-stock KLCI up 0.89 of a point. BAT added RM1.38 to RM53.90, adding 0.62 of a point to the index.

Other gainers were Nestle, up 90 sen to RM56.00, Oriental Holdings 30 sen to RM5.65, Aeon 29 sen to RM7.99 and Panasonic Malaysia 22 sen to RM20.42.

Among the lower liners, Cyberpark rose 19 sen to RM2.07 on the positive outlook for its integrated renewable energy plant in Negeri Sembilan to be launched next month.

Cybertowers added 18.5 sen to 76 sen. Before market close, Bursa Malaysia Securities had queried Cybertowers over the unusual market activity in the trading of the company’s shares.

Green Ocean, which closed up 2.5 sen to 25 sen with 58.8 million shares traded, was earlier queried by Bursa Securities for its sharp rise in price and volume.

Among top losers were TAHPS down 20 sen to RM4.50, Ewein 18.5 sen to 80.5 sen while BLD PLANTATION []s and Tasek fell 17 sen each to RM9.83 and RM8.30 respectively.



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Market closes steadier, but down for the week

KUALA LUMPUR (Feb 17): Blue chips on Bursa Malaysia closed firmer on Friday, tracking the regional markets which posted gains of up to 1.6% as investors were somewhat upbeat that Greece had taken enough measures to ensure it would secure a second bailout.

The FBM KLCI closed up 6.66 points to 1,557.17, boosted by gains in Tenaga, Maybank and Genting. Turnover was 2.27 billion shares valued at RM1.94 billion. There were 511 gainers, 304 losers and 346 stocks unchanged.

All the key Asian markets posted gains. Japan’s Nikkei 225 rose 1.58% to 9,384.17, Hong Kong’s Hang Seng Index 1.01% to 21,491.62. Taiwan Taiex 0.32% to 7,894.36 and South Korea’s Kospi 1.30% to 2,023.47 while Singapore’s Straits Times Index edged up 0.79% to 3,000.59. The Shanghai Composite Index was a marginal 0.01% higher at 2,357.18 while the other China indices closed in the red.

Reuters reported optimism grew on Friday that Greece has finally done enough to secure a second bailout despite worsening relations with Germany, but doubts remained over lenders' demands for tighter supervision of how Athens will implement the deal.

Greek officials say they have done everything asked of them for euro zone finance ministers to sign off on the 130 billion euro (US$170 billion) rescue package on Monday -- a month before Athens needs the money to make 14.5 billion euros of debt repayments due on March 20 or go bankrupt.

At Bursa Malaysia, investors were happy to see the market closing higher after the pullback on Thursday. However, for the week, the KLCI lost 4.51 points down from 1,561.66 on Feb 10.

Analysts said the positive economic data from Bank Negara Malaysia on the economic growth in the fourth quarter of 2011 helped boost sentiment. The cautious outlook for 2012, as forecast by BNM, was expected.

Crude palm oil futures for third-month delivery rose RM54 to RM3,243 per tonne. The ringgit gained 0.0162 to 3.0430 to the US dollar.

Tenaga rose 11 sen to RM6.11, pushing the KLCI up 1.41 points. Maybank added six sen to RM8.56 and GENTING BHD [] 12 sen to RM10.64, nudging the index up by 1.06 points and 1.05 points.

HLFG rose 20 sen to RM11.74, Hong Leong Bank 12 sen to RM11.74, Public Bank six sen to RM13.70, AMMB four sen to RM6.14 and CIMB three sen to RM7.28.

Tasek was the top gainer, up 47 sen to RM8.47 after announcing its dividend payout. Petronas Dagangan rose 20 sen to RM18.02 and Petronas Gas 14 sen to RM16.50.

PDZ was the most active with 178.9 million shares done, adding two sen to 10.5 sen, GPA rose 1.5 sen tp 10.5 sen.

Perisai rose six sen to 98.5 sen. There were 50 million shares crossed in several off-market deals at an average price of 88 sen.

Among the decliners were DiGi, down eight sen to RM4.02, Maxis twos en tp RM5.75 and MMHE three sen to RM5.41.



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KL stocks higher at midday

Improved investor risk appetite pushed Bursa Malaysia to extend gains at midday today, led by Tasek Corporation, Batu Kawan and Petronas Gas, dealers said.

Reversing losses incurred earlier this week, the FTSE Bursa Malaysia KLCI (FBM KLCI) at 12.30 pm rose 7.04 points to 1,557.53, after opening 5.14 points lower at 1,484.81.

Affin Investment Bank head of retail research Dr Nazri Khan said the performance of the local bourse was now steadier on the back of an improved market sentiment globally.

Robust economic data from the United States and renewed hope that Greece would secure a long-awaited bailout next week, lifted the performance of global equities markets.

"The uptrend today was in line with our expectation that the market will rebound after the correction that took place this week.

"We anticipated the correction phase. The risk appetite is now stable amid an improved regional sentiment," he told Bernama.

The Finance Index added 61.71 points to 13,833.65, the Plantation Index increased 35.819 points to 8,830.39 and the Industrial Index climbed 21.54 points to 2,912.79.

The FBM Emas Index went up 48.29 points to 10,828.64, the FBM Mid 70 Index edged up 46.20 points to 12,330.29 and the FBM Ace added 28.66 points to 4,684. Gainers outstripped losers 426 to 232 with 349 counters unchanged. A total of 1.213 billion shares worth RM880.561 million were traded.

Among active stocks, Tasek Corporation added 49 sen to RM8.49, Batu Kawan gained 34 sen to RM19.86 and Petronas Gas advanced 22 sen to RM16.58.

For the heavyweights, Maybank rose four sen to RM8.54, Sime Darby increased nine sen to RM9.63, Petronas Chemicals was unchanged at RM6.88 and CIMB went up two sen to RM7.27. -- Bernama



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Markets firmer, rotational play of penny stocks

KUALA LUMPUR (Feb 17): Key Asian markets except China were firmer at midday on Friday, as investors were relieved that Greece had finally implemented measures to secure a second bailout.

At Bursa Malaysia, the FBM KLCI rose 7.04 points or 0.45% to 1,557.53. Turnover was 1.21 billion shares valued at RM880.56 million. Advancing stocks beat decliners nearly two to one, with 426 gainers to 232 losers. Rotational play was seen in several penny stocks which had been under the radar for several months such as PDZ, GPA, IPower and Marco.

Among key regional markets, Japan’s Nikkei 225 rose 1.68% to 9,393.50, Hong Kong’s Hang Seng Index added 0.70% to 21,425.90, Taiwan’s Taiex 0.12% to 7,879.30 and South Korea’s Kospi 1.48% to 2,027.05 and Singapore’s Straits Times Index 0.47% to 2,991.23. However, Shanghai’s Composite Index lost 0.14% to 2,353.51.

April Brent crude oil futures rose 17 cents to US$120.28 while US light crude oil added 14 cents to US$102.45.

The ringgit gained 0.0107 to 3,0485 to the US dollar. Crude palm oil third-month futures rose RM22 to RM3,211 per tonne.

At Bursa Malaysia, Tasek was the top gainer, up 49 sen to RM8.49 with 64,500 shares done after it declared dividends totaling 86% despite weaker earnings.

Among the index-linked stocks, GENTING BHD []’s 18 sen gain to RM10.70 pushed the KLCI up 1.57 points.

Tenaga saw some recovery, rising 10 sen to RM6.10 on news that the recommended price of natural gas is being finalised and is scheduled to be presented to the Cabinet by the end of March. The framework will decide how much should be borne by Tenaga, independent power producers (IPPs) and end- consumers.

Sime rose nine sen to RM9.63. Among the banks, HLFG added 22 sen to RM11.76, Maybank four sen to RM8.54, Public Bank six sen to RM13.70 and CIMB two sen to RM7.27.

Among PLANTATION []s, Batu Kawan added 34 sen to RM19.86, TDM 14 sen to RM4.84 and IOI Corp three sen to RM5.44. BLD Plantations fell 28 sen to RM9.72 in thin trade and United Plantations 12 sen lower at RM22.54.

Dialog-WA extended its rally for the third day, adding 17 sen to 83 sen with 62.71 million units.

Rotational play was seen in related penny stocks with PDZ to the fore, adding five sen to 13.5 sen with 95.16 million shares done, GPA 1.5 sen to 10.5 sen and IPower one sen to 5.5 sen and Marco-WA adding one sen to 7.5 sen.

Among the decliners were MUH, sliding as much as 22 sen to 38 sen, while Nestle gave up 16 sen to RM55.34 and BAT 12 sen to RM52.18 while Hartalega gave up some of the recent gains, down eight sen to RM7.74.



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Tasek advances on dividends plan

Tasek Corp, a cement maker, advanced 7.5 per cent to RM8.60, on course for its highest close since May 16.

The company declared a special dividend and a final dividend totaling 80 sen per share, according to a filing to the exchange. - Bloomberg



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Tasek climbs on hefty dividends plan

KUALA LUMPUR (Feb 21): Shares of TASEK CORPORATION BHD [] jumped in early trade on Friday after the company decided to reward shareholders with dividends totaling 86%.

At 9.08am, it was up 66 sen to RM8.66. There were 14,100 shares transacted.

The FBM KLCI rose 8.98 points to 1,559.47. Turnover was 151.41 million shares done valued at RM69.93 million. The broader market was firmer, with gainers leading losers 251 to 32.

Tasek announced on Thursday its earnings fell 57.1% to RM33.44 million in the fourth quarter ended Dec 31, 2011 from RM78.00 million a year ago, due to higher production costs.

Despite the lower earnings, it declared dividends totaling 86%. They comprised of a special ordinary dividend of 50% less income tax of 25%; preference dividend of 6% single tier and final ordinary dividend of 30% single tier.



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HDBSVR expects market sentiment to perk up, boost from Wall St

KUALA LUMPUR (Feb 17): HwangDBS Vickers Research (HDBSVR) expects market sentiment to perk up on Friday after the stronger overnight close on Wall Street.

Key U.S. equity indices climbed between 1.0% and 1.5% at the closing bell on account of positive economic reports (jobless claims fell while housing starts rose) and hopes that Greece remains on track to receive international financial aid.

“This is expected to lift investors’ sentiment on our Malaysian bourse today. The benchmark FBM KLCI – after losing 10.8-point or 0.7% yesterday – could attempt to overcome the support-turned-resistance line of 1,555 ahead,” it said.

HDBSVR said the big caps which were likely to ride on a market rebound on Friday include CIMB and Maxis.

“In the small-mid cap space, of probable interest could be: (a) Tasek Corporation, which has just declared a final-cum-special net dividend per share of 60 sen (implying a net yield of 7.5% at the current share price of RM8.00); (b) Extol MSC, in response to a local news article speculating that a corporate exercise might be brewing following recent boardroom and shareholding changes; (c) Uzma, after winning an oil & gas contract worth RM350 million; and (d) Dataprep, as one media report said it is close to securing a IT contract in China valued at RM600 million,” it said.



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Stocks to watch: Uzma, Tradewinds Plantations, Hibiscus, Tasek

KUALA LUMPUR (Feb 17): The pullback on Bursa Malaysia and key regional markets could see investors remaining on the sidelines until and unless the bailout for Greece is implemented and completed.

The warning by Moody’s Investors Service’s announcement threatening to lower the ratings of 17 banks and securities firms with global capital markets operations also unnerved the markets.

On Thursday, the FBM KLCI fell 10.81 points or 0.69% to 1,550.49, the lowest since Feb 2. Turnover was 2.19 billion shares valued at RM1.97 billion.

It should be noted the weakening in the broader market where declining counters beat advancers 668 to 239, the largest margin in recent days, and putting a halt in the recent rally.

However, despite the cloud of uncertainty, there were several positive corporate developments on the local front which could lure some mild buying interest.

Among the stocks to watch are UZMA BHD [], Tradewinds PLANTATION []s Bhd, Hibiscus Petroleum Bhd, TASEK CORPORATION BHD [], CI Holdings Bhd and Maxis Bhd.

Uzma secured a RM350 million contract from Petronas Carigali Sdn Bhd to provide well testing equipment and services for Petroliam Nasional Bhd’s drilling projects in the west region. The contract is for a period of five years effective from April 1, 2012 to March 31, 2017.

Tradewinds Plantations’ indirect unit Mardec International Sdn Bhd is selling its 45% stake in R1 International Pte Ltd for US$25.86 million.

R1’s core activities are trading of natural rubber, latex concentrate and synthetic rubber. R1 is a global rubber trading company specialising in rubber commodity which operates in Malaysia, Thailand, Japan, China and India.

Hibiscus Petroleum has received the Securities Commission’s approval for its qualifying acquisition of a 35% stake in Lime Petroleum Plc for US$55 million.

Tasek's earnings fell 57.1% to RM33.44 million in the fourth quarter ended Dec 31, 2011 from RM78.00 million a year ago, as a result of higher production costs.

Despite the lower earnings, it declared dividends totaling 86%. They comprised of a special ordinary dividend of 50% less income tax of 25%; preference dividend of 6% single tier and final ordinary dividend of 30% single tier.

Revenue rose 25.11% to RM167.24 million from RM133.67 million. Earnings per share were 26.98 sen compared to 48.88 sen.

CI Holdings Bhd posted net profit of RM650.39 million in the second quarter ended Dec 31, 2011 from RM11.17 million a year ago, boosted by the disposal of its Permanis Group to Asahi for RM820.0 million cash.

Its revenue declined slightly to RM11.35 million from RM11.96 million a year ago due to a slowdown in the CONSTRUCTION [] sector. The improvement in profit before tax was due largely to income received from the disposal of Permanis of RM688.43 million. It declared a dividend of RM4.60 per share totaling RM653.20 million.

Maxis Bhd has proposed to undertake a RM2.45 billion unrated Sukuk Musharakah programme with a 10-year maturity. Of the proceeds, RM1.45 billion would be used for refinancing of existing loans and RM1.0 billion for the capital expenditure and/or working capital and/or general funding requirements.



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