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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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



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KLCI snaps losing streak, closes 0.68% higher

KUALA LUMPUR (Jan 5): The FBM KLCI snapped its losing streak on the third trading day of 2012 and closed in the positive territory for the first time in the New Year, lifted by gains at banking and select blue chip stocks.

The FBM KLCI gained 10.21 points to close at 1,514.43.

Gainers beat losers by 467 to 325, while 324 counters traded unchanged. Volume was 1.67 billion shares valued at RM1.46 billion.

However, whether the index would be able to sustain its gains on Friday remains uncertain as most Asian markets closed in the negative territory while European indices fell in early trade on Thursday.

At the regional markets, Hong Kong’s Hang Seng Index added 0.46% to 18,813.41, Taiwan’s Taiex gained 0.68% to 7,130.86 and Singapore’s Straits Times Index edged up 0.07% to 2,713.02.

Meanwhile, the Shanghai Composite Index fell 0.97% to 2,148.45, Japan’s Nikkei lost 0.83% to 8,488.71 while South Korea’s Kospi shed 0.13% to 1,863.74.

Concern about the appetite for euro zone sovereign debt pushed European stocks lower and hit the single currency on Thursday, with the first French bond auction of 2012 set to test how much progress policymakers have made in easing tensions, according to Reuters.

The price France has to pay to sell 7 to 8 billion euros of longer-term bonds will measure how much relief markets have taken from the EU leaders' December plan for resolving the crisis and the near half-trillion euros pumped into the region's banks by the European Central Bank, it said.

On Bursa Malaysia, KLK jumped RM1.76 to RM25.26, Dutch Lady gained RM1 to RM24, Can-One 31 sen to RM1.37, Nestle 30 sen to RM56.30, Timwell 28 sen to RM1.08, BHIC and Boxpak 26 sen to RM4.11 and RM2.52, Carlsberg and MISC 23 sen each to RM8.71 and RM5.96, while BLD PLANTATION []s was up 22 sen to RM7.60.

Among banking stocks, CIMB rose six sen to RM7.16, RHB Capital five sen to RM7.33, Affin seven sen to RM3.09, HLFG four sen to RM11.56, while Maybank and Public Bank gained two sen each to RM8.29 and RM13.16.

Decliners were led by RCI that lost 35 sen to RM1.45, BAT 14 sen to RM49.66, IGB 10 sen to RM2.48, Genting Plantations and IJM Corp eight sen each to RM8.60 and RM5.46, Malayan Flour Mills and WCT seven sen each to RM7.16 and RM2.18, while Mahajaya and AFG fell six sen each to 62 sen and RM3.89.

The actives included XDL, JCY, Proton, Versatile and Astral Supreme.



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KLCI remains in positive territory at mid-day, but gains seen capped

KUALA LUMPUR (Jan 5): The FBM KLCI stayed above the psychologically-crucial 1,500 level at the mid-day break on Thursday, but pared down its gains as investor sentiment remains fragile.

At 12.30pm, the FBM KLCI was up 2.59 points to 1,506.81. Gainers edged losers by 306 to 300, while 334 counters traded unchanged. Volume was 754.24 million shares valued at RM579.57 million.

The ringgit weakened 0.11% to 3.1392 versus the US dollar; crude palm oil futures for the third month delivery fell RM2 per tonne to RM3,213, crude oil shed 23 cents per barrel to US$102.99 while gold gained US$4.97 to US$1,616.57.

Asian stocks steadied and reversed some earlier losses, but overall sentiment was cautious given concerns about the ability of euro zone countries to refinance their huge public debt that dampened investor risk appetite.

Meanwhile, China's services sector entered a seventh straight year of expansion in December, a survey of purchasing managers showed on Thursday, but a slowdown in the world's second-biggest economy saw overall levels of activity mired at three-month lows, according to Reuters.

The HSBC China services purchasing managers index (PMI) stood at 52.5 in December, unchanged from November, signalling a steady if sluggish expansion in the sector that is increasingly a barometer for domestic economic conditions, it said.

At the regional markets, Hong Kong’s Hang Seng Index was up 0.44% to 18,810.38, Singapore’s Straits Times Index added 0.58% to 2,726.76, South Korea’s Kospi gained 0.39% to 1,873.49, Taiwan’s Taiex was up 0.37% to 7,109.30 and the Shanghai Composite Index edged up 0.32% to 2,176.37.

Meanwhile, Japan’s Nikkei 225 fell 0.65% to 8,504.44.

On Bursa Malaysia, Dutch Lady gained 60 sen to RM24.60; Timwell was up 28 sen to RM1.08, Can-One 24 sen to RM1.30, Sarawak PLANTATION []s and BHIC 22 sen each to RM2.59 and RM4.07, SOP 15 sen to RM6, while Perduren, Tahps, HLFG and Proton added 12 sen each to 85 sen, RM4.40, RM11.64 and RM5 respectively.

Decliners included Far East, YHS, Malayan Flour Mills, UMS, IJM Corp, Sime Darby, Genting and IGB, while the actives included JCY, Versatile, Proton, HWGB and Astral Supreme.



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KLCI steadies at mid-morning, Asian markets mixed

KUALA LUMPUR (Jan 5): The FBM KLCI steadied at mid-morning on Thursday and was up 7.3 points to 1,511.25 at 10.01am, lifted by gains at select blue chips, while regional markets traded mixed.

Gainers led losers by 236 to 164, while 228 counters traded unchanged. Volume wa332.32 million shares valued at RM231.13 million.

Meanwhile, Asian shares and the euro eased on Thursday as concerns about the ability of euro zone countries to refinance their huge public debt dampened investor risk appetite ahead of a French bond auction later in the day, according to Reuters.

The euro zone's sovereign funding plans and US economic data, including U.S. jobs figures due on Friday, are the primary focus for market participants to gauge whether investors would take or avert risk, it said.

At the regional markets, Hong Kong’s Hang Seng Index edged up 0.08% to 18,742.43, Taiwan’s Taiex added 0.14% to 7,093.05 and South Korea’s Kospi rose 0.39% to 1,873.41.

Meanwhile, Japan’s Nikkei 225 fell 0.61% to 8,508.25, the Shanghai Composite Index dipped 0.07% to 2,167.91 and Singapore’s Straits Times Index shed 0.02% to 2,710.48.

BIMB Securities Research in a note Jan 5 said attention on Eurozone crisis was back to haunt investors again after a few days of reprieve, adding that the situation was made worse from a weak capital raising exercise of €7.5bn by Italy’s Unicredit.

As a result, jittery sentiments resurfaced and wiped out all gains made the previous day by European bourses as most ended in the red, it said.

Wall Street fared better with a 21 point gain buoyed by improved sales figures from the automakers, said the research house.

It said Asian bourses were apparently affected by the weak European performances with most charted into negative territory.

“Locally, the FBM KLCI fell for the second consecutive days possibly suffering from indigestion amid an overbought position.

“Expect the psychological 1,500 level to be tested today and it is crucial that this support level is maintained,” it said.

On Bursa Malaysia, Nestle was the top gainer at mid-morning and added 40 sen to RM56.40; Timwell gained 28 sen to RM1.08, United PLANTATION []s and Dutch Lady rose 20 sen each to RM19.40 and RM24.20, BHIC 17 sen to RM4.02, HLFG 14 sen to RM11.66, while F&N, Hong Leong Bank and UMW rose 10 sen each to RM18.22, RM10.84 and RM7.09 respectively.

Decliners included Far East, KrisAssets, IJM Corp, Dialog, IIGB, Toyo Ink and Hibiscus, while the actives included JCY, Proton, Astral Supreme and HWGB.



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Muted gains on KLCI as profit taking sends Asian markets lower

KUALA LUMPUR (Dec 2): Gains on the FBM KLCI were muted at the mid-day break on Friday, while most Asian markets fell as investors took profit ahead of the US employment data set to be released later in the day.

Although Asian stocks are poised for their first weekly rise in a month buoyed by coordinated central bank actions, the release of mixed economic data from the United States and China spooked some investors and profit taking started chipping off the gains at some of the regional markets.

The FBM KLCI was up 1.86 points at 1,487.12 at the mid-day break. Gainers trailed losers by 234 to 332, while 277 counters traded unchanged. Volume was 810.72 million shares valued at RM541.42 million.

The ringgit strengthened 0.31% to 3.1301 versus the US dollar; crude palm oil futures for the third month delivery fell RM10 per tonne to RM3,048, crude oil slipped 7 cents to US$100.13 while gold fell US$2.13 an ounce to US$1,742.70.

At the regional markets, Japan’s Nikkei was up 0.27% to 8,620.25.

Elsewhere, the Shanghai Composite Index lost 1.44% to 2,352.52, Taiwan’s Taiex fell 0.94% to 7,111.55, Singapore’s Straits Times was down 0.65% to 2,743.84, Hong Kong’s Hang Seng Index fell 0.49% to 18,909.07, and South Korea’s Kospi lost 0.30% to 1,910.36.

On Bursa Malaysia, Nestle was the top gainer at the mid-day break and was up 60 sen to RM52.80; Dutch Lady gained 30 sen to RM24.70, Proton up 29 sen to RM3.39, Tradewinds PLANTATION []s 23 sen to RM4.15, Panasonic, HLFG and Harvest Court 20 sen each to RM19.94, RM11.78 and RM1.10 respectively, while Petronas Dagangan and Petronas Gas added 18 sen each to RM16.80 and RM13.50.

Among the decliners, Aeon Credit fell 20 sen to RM6.10, Shangri-La and Genting Plantations down 13 sen to RM2.25 and RM8, Inno 12 sen to RM1.23, SHL and BAT fell 10 sen each to RM1.15 and RM48, Timwell down nine sen to 76 sen, while PPB and TSH lost eight sen each to RM16.50 and RM1.91.

The actives included Wijaya warrants, DPS Resources, SYF Resources, Compugates and Tiger Synergy.



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