KLCI down 3 pts on Wed mid-morning

KUALA LUMPUR (April 4) : Malaysian stocks gave up earlier gains to slip into the red at mid-morning on Wednesday against a weaker backdrop across Asian equity indices.

This follows a weaker overnight close across US markets after policymakers indicated that they may not implement further quantitative easing to spur the world’s largest economy. Analysts said a weaker overnight close at US markets could dictate sentiment across Malaysian stocks on Wednesday.

“Still, we reckon the benchmark index (FBM KLCI) is expected to show resilience as investors may be tempted to buy on dips following the new record levels set by our local bourse this week,” HwangDBS Vickers Research Sdn Bhd wrote in a note.

At 10am, the 30-stock FBM KLCI fell 3.26 points to 1,603.37. Some 259 million shares worth RM111 million changed hands, leading to 142 gainers against 176 decliners while 256 entities were unchanged.

Top gainer BRITISH AMERICAN TOBACCO (M) [] Bhd rose 32 sen to RM56.54 followed by United PLANTATION []s Bhd which added 10 sen to RM25.

Decliners PPB GROUP BHD [] fell 12 sen to RM16.58 while TRIPLC BHD [] was down 7.5 sen to 43 sen.

Among actively traded stocks, Ariantec Global Bhd and METRONIC GLOBAL BHD [] were unchanged at 10.5 sen and 16 sen respectively with some 20 million shares done.

Across Asia, Japan’s Nikkei 225 fell 0.44% to10,005.8 points, Australia’s S&P / ASX 200 declined 0.43% to 4,318.6 while Taiwan’s Taiex was down 1.3% to 7,760.85

Stock markets in Hong Kong and China are closed on Wednesday. Note that markets in Europe and the US will be closed on Friday for the Easter holiday.



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KLCI remains in the red at mid-day as Asian markets pause

KUALA LUMPUR (Jan 27): The FBM KLCI remained in the red at the mid-day break on Friday, as regional markets paused after the recent rally in line with the mixed overnight trade at the US markets.

The FBM KLCI fell 2.12 points to 1,521.74 at the mid-day break, weighed by select blue chips.

Gainers edged losers by 357 to 345, while 297 counters traded unchanged. Volume was 1.21 billion shares valued at RM893.67 million.

The ringgit weakened 0.01% to 3.0408 versus the US dollar; crude palm oil futures for the third month delivery rose RM2 per tonne to RM3,133, crude oil added 14 cents per barrel to US$99.84 while gold fell 33 cents an ounce to US$1,720.32.

At the regional markets, Japan’s Nikkei 225 fell 0.24% to 8,828.48, Hong Kong’s Hang Seng Index down 0.04% to 20,431.90 and South Korea’s Kospi shed 0.02% to 1,956.75, while Singapore’s Straits Times Index edged up 0.04% to 2,895.55.

On Bursa Malaysia, HLFG fell 26 sen to RM12, Tahps lost 25 sen to RM4.25, Genting PLANTATION []s down 20 sen to RM9.45, Hong Leong Industries down 18 sen to RM4.21, Triplc 15 sen to 39 sen, Fima Corp 12 sen to RM6.14, Warisan and MPI lost 11 sen each to RM2.55 and RM3.58, while Sunchirin lost 10 sen to RM1.65.

Gainers this morning included Bintulu Port, IJM Corp, Hartalega, Southern Acids, Puncak Niaga, Batu Kawan, Hong Leong Bank, Esso, AZRB and DRB-Hicom.

The actives included TMS, Karyon, DRB-Hicom and Palette.



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KLCI extends losses, stays below 1,520-level

KUALA LUMPYR (Jan 19): The FBM KLCI extended its losses on Thursday and stayed below the 1,520-point level, lagging behind most Asian markets.

The index closed 0.57 of a point lower at 1,516.81.

Gainers edged losers by 378 to 370, while 325 counters traded unchanged. Volume was 1.94 billion shares valued at RM1.62 billion.

At the regional markets, the Shanghai Composite Index rose 1.31% to 2,296.08, Hong Kong’s Hang Seng Index added 1.3% to 19,942.95, Japan’s Nikkei 225 was up 1.04% to 8,639.68, South Korea’s Kospi up 1.19% to 1,914.97 and Singapore’s Straits Times Index edged up 0.57% to 2,811.20.

On Bursa Malaysia, Y&G fell 23 sen to 77 sen, Batu Kawan lost 20 sen to RM18.66, Triplc and Genting down 18 sen each to 41.5 sen and RM10.82, Nadayu 12 sen to RM1.06, Southern Acids and Kossan 11 sen each to RM2.21 and RM3.50, Asia File nine sen to RM3.65 while Amway and BIMB lost eight sen each to RM9.40 and RM2.16.

Among the gainers, MPI jumped 36 sen to RM3.15 after RHB Research upgraded the stock to Market Perform (from underperform) and raised its target price to RM2.79.

Other gainers include APM Automotive that added 20 sen to RM4.68, Glenealy 18 sen to RM6.55, Chin Teck 16 sen to RM8.76, TDM 15 sen to RM3.97, Coastal Contracts 12 sen to RM2.05, whiel Knusford, Hong Leong Bank and BRDB added 10 sen each to RM1.70, RM11 and RM2.23 respectively.

DBE Gurney was the most actively traded counter with 314.65 million shares done. The stock jumped 2.5 sen to 13.5 sen.

Other actives included TMS, JCY, Axiata, MBSV, Nextnation, Telekom and BIMB.



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KLCI slips into negative territory at mid-day, lags Asian markets

KUALA LUMPUR (Jan 19): The FBM KLCI fell at the mid-day break on Thursday, lagging behind key Asian markets as some mild profit taking on the penultimate trading day before the extended weekend for the Chinese New Year holidays chipped off earlier gains.

The FBM KLCI slipped 1.60 points to 1,515.78 at 12.30pm.

Losers overtook gainers by 324 to 296, while 308 counters traded unchanged. Volume was 1.09 billion shares valued at RM675.52 million.

The ringgit strengthened 0.52% to 3.1027 versus the US dollar; crude palm oil futures for the third month delivery fell RM26 per tonne to RM3,154, crude oil added 86 cents a barrel to US$101.45 while gold gained US$3.50 an ounce to US$1,663.45.

At the regional markets, Japan’s Nikkei 225 added 1.1% to 8,645.04, Hong Kong’s Hang Seng Index gained 1.11% to 19,906.30, the Shanghai Composite Index rose 0.90% to 2,286.89, South Korea’s Kospi gained 1.14% to 1,914.03, Singapore’s Straits Times Index was up 0.54% to 2,810.52 and Taiwan’s Taiex edged up 0.17% to 7,233.69.

On Bursa Malaysia, the decliners at mid-day included Sunchirin that fell 20 sen to RM1.50, Batu Kawan down 18 sen to RM18.68, Triplc 17.5 sen to 42 sen, Genting down 16 sen to RM10.84, Southern Acids 14 sen to RM2.18, Warisan 11 sen to RM2.49, Tasek 10 sen to RM7.90, Bursa down nine sen to RM6.86 while Hong Leong Industries and Amway fell eight sen each to RM4 and RM9.40.

Among the gainers, Nestle was up 30 sen to RM56.30, Aturmaju 16 sen to 74 sen, Parkson 14 sen to RM5.74, BAT 12 sen to RM49.92, while Knusford, Petronas Gas, Ekovest and Sarawak Oil Palm added 10 sen each to RM1.70, RM15.38, RM2.60 and RM6.05 respectively.

D.B.E Gurney, which was the most actively traded counter this morning, was issued with an unusual market activity query by Bursa Malaysia Securities Bhd.

The stock was unchanged at 11 sen with 166.2 million shares done.

Other actives included TMS, JCY, MBSB, BIMB, Nextnation and Ingenuity Solutions.



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Triplc loses more than half of value

KUALA LUMPUR (Nov 23): Shares of Triplc have lost more than half the value over the past two days since they resumed trading on Tuesday after the company was uplifted from the Practice Note 17 status.

At 3.24pm, it was down 23 sen to 47 sen with 252,500 shares done.

The FBM KLCI fell 10.51 points to 1,427.48. Turnover was 1.10 billion shares valued at RM716.19 million. There were 198 gainers, 486 losers and 246 stocks unchanged.

Under the financial regularisation exercise, there was the listing and quotation of 6.367 million settlement shares issued pursuant to the capitalisation of RM6.36 million or 25% of the RM25.47 million in debts owing by the group to certain substantial shareholders and creditors and the waiver of the remaining 75% of such debts amounting to RM19 million.

Also quoted were 64.02 million shares of RM1 each issued under the consolidation of every 100 shares of 43 sen each into 43 shares subsequent to the reduction of the paid-up b cancelling 57 sen of the par value of each of the 148.88 million shares in issue after the capitalisation.

In the first quarter ended Aug 30, 2011, it posted net profit of RM208,000 compared with RM252,000 a year ago. Its revenue was RM16.85 million versus RM2.17 million a year ago.



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KLCI drifts lower at mid-morning, slips below 1,430-level

KUALA LUMPUR (Nov 23): The FBM KLCI could not sustain its slim gains from a day earlier and fell at mid-morning on Wednesday, as investors stayed on the sidelines and blue chip stocks retreated.

Asian shares drifted lower on Wednesday, weighed down by mining and TECHNOLOGY [] stocks after a downward revision of US growth data raised new concerns about the faltering global economy, according to Reuters.

The FBM KLCI fell 9.47 points to 1,428.52 at 10am, weighed by losses including at Genting and KLK.

Losers edged gainers by 317 to 112, while 150 counters traded unchanged. Volume was 319.46 million shares valued at RM165.95 million.

At the regional markets, Hong Kong’s Hang Seng Index fell 1.92% to 17,901.22, South Korea’s Kospi lost 1.46% to 1,799.64, Taiwan’s Taiex and Singapore’s Straits Times Index were down 1.37% each respectively to 6,904.26 and 2,679.94, while the Shanghai Composite Index rose 0.19% to 2,417.23.

Japan’s Nikkei 225 is closed today to observe the Labour Thanksgiving holiday.

BIMB Securities Research in a note Nov 23 said the same old concerns over Europe's debt crisis and US' economic growth seemed unabated as investors continued to be affected by these despite recent efforts to alleviate the impacts.

At present, it seems investors prefer to dwell into the negatives than look at the positives amid prevailing volatilities, it said.

The research house said although yesterday's unveiling of the enhanced lending program to eradicate Europe's short term liquidity concerns by the IMF, this was only a temporary reprieve as many would look to sell into strength going forward.

The news did prop up the Dow Jones Industrial Average from intra-day low to close marginally below 11,500 (-53.59), it said.

BIMB Research said performance of regional markets were mixed on cautious mode taking cue from the bond movements in Europe as yields in Spain and Belgium continue to inch up.

“Similarly, the local bourse remained cautious with the FBM KLCI edging 3.91 points higher on a relatively quiet day.

“We expect some nibbling on stocks to continue today with the benchmark index to possibly test the 1,440 level,” it said.

Among the losers on Bursa Malaysia, KLK fell 40 sen to RM20.60, Harvest Court lost 21.5 sen to 75 sen, Nestle and Triplc down 20 sen each to RM50 and 50 sen, IJM Corp 17 sen to RM5.36, Hong Leong Bank and Genting down 16 sen each to RM10.18 and RM10.06, AirAsia 15 sen to RM3.52 and HLFG 14 sen to RM10.94.

Sumatec was the most actively traded counter with 44.8 million shares done. The stock gained half a sen to 28.5 sen.

Other actives included Compugates, Sanichi, PDZ, TMS, KNM and Tiger Synergy.

Gainers at mid-morning included Cycle & Carriage, Amtel, Tradewinds, JobStreet, SOP, HDBS, MAHB, Batu Kawan, Harrisons and YTL Cement.



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KLCI snaps losing streak as regional markets pare down losses

KUALA LUMPUR (Nov 22): The FBM KLCI snapped its losing streak and closed higher on Tuesday after having continuously fallen for five trading days, as some of the regional markets reversed earlier losses.

Stock markets put in gains on Tuesday after a heavy session of losses the previous day, though the respite from worries over U.S. and European government debt looked only temporary, according to Reuters.

The FBM KLCI rose 3.91 points to close at 1,437.99.

Market breadth, however, remained tepid with losers edging gainers by 399 to 327, while 298 counters traded unchanged. Volume was 1.27 billion shares valued at RM1.04 billion.

At the regional markets, Hong Kong’s Hang Seng Index rose 0.14% to 18,251.59, South Korea’s Kospi rose 0.34% to 1,826.28 and Singapore’s Straits Times Index gained 0.71% to 2,717.20.

Meanwhile, Japan’s Nikkei 225 fell 0.4% to 8,314.74, Taiwan’s Taiex lost 0.61% to 7,000.03 and the Shanghai Composite Index shed 0.10% to 2,412.63.

On Bursa Malaysia, KrisAssets rose 40 sen to RM5, Nestle was up 34 sen to RM50.20, KLK 30 sen to RM21, Tradewinds 25 sne to RM9.43, TSH Resources rose 24 sen to RM3.91, United PLANTATION []s 20 sen to RM18.50, Knusford 19 sen to RM1.77, BLD Plantations 15 sen to RM6.88 and DiGi up 12 sen to RM3.72.

Sumatec was the most actively traded counter with 112.1 million shares done. The stock jumped 7.5 sen to 28 sen.

Other actives included Compugates, DPS Resources, MMSV, SYF Resources, Tricubes and GPRO.

Among the decliners, Harvest Court fell 43.5 sen to 96.5 sen, Panasonic down 36 sen to RM19.60, Triplc 30 sen to 70 sen, Uzma 19 sen to RM1.60, DKSH and SOP 18 sen each to RM2.15 and RM4.48, Sungei Bagan 17 sen to RM2.73, while Nilai and MAHB fell 11 sen each to RM1.21 and RM5.96.



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KLCI remains in the red at mid-day break

KUALA LUMPUR (Nov 22): The FBM KLCI remained in negative territory at the mid-day break on Tuesday as investor confidence at key Asian markets continued to sapped by the uncertainties in the outlook for Western economies.

At the mid-day break, the FBM KLCI was down 2.87 points to 1,431.21.

Gainers trailed losers by 178 to 416, while 260 counters traded unchanged. Volume was 728.09 million shares valued at RM520.24 million.

The ringgit weakened 0.23% to 3.1883 versus the US dollar; crude palm oil futures for the third month delivery fell RM34 per tonne to RM3,157, crude oil slipped 22 cents per barrel to US$96.70 while gold added US$2.18 an ounce to US$1,679.50.

At the regional markets, Japan’s Nikkei 225 fell 0.85% to 8,277.03, Hong Kong’s Hang Seng Index lost 0.98% to 18,047.54, the Shanghai Composite Index was down 0.94% to 2,392.47, Taiwan’s Taiex lost 0.66% to 6,996.21, South Korea’s Kospi shed 0.13% to 1,817.69 and Singapore’s Straits Times Index edged down 0.03% to 2,697.20.

On Bursa Malaysia, Harvest Court was the top loser and fell 42 sen to 98 sen; Panasonic lost 36 sen to RM19.60, Triplc down 30 sen to 70 sen, Sarawak Oil Palms 21 sen to RM4.45, SHL 20 sen to RM1.15, PLB 13.5 sen to 83.5 sen, DKSH 13 sen to RM2.20, BHIC 12 sen to RM2.70 while Petronas Gas fell 10 sen to RM13.06.

Meanwhile, Sumatec became the latest company to be queried by Bursa Malaysia Securities over the recent sharp rise in price and high volume of the securities.

The regulator had on Tuesday cautioned investors to be take note of the company’s reply when making their investment decision.

Sumatec rose 5.5 sen to 26 sen with 81 million shares done, while its warrants rose 2 sen to 15 sen with 41.4 million units traded.

Other actives included Compugates, DPS Resources, MMSV, Tricubes, GPRO, SAAG and SYF Resources.

Among the gainers, KrisAssets added 40 sen to RM5, Dutch Lady up 30 sen to RM23.70, BLD PLANTATION []s and TSH Resources 17 sen each to RM6.90 and RM3.85, Knusford, Nestle and BAT added 14 sen each to RM1.72, RM50 and RM46.82, while United Plantations and Ekovest lost 12 sen each to RM18.42 and RM2.62.



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Triplc tumble after removal from PN17

KUALA LUMPUR (Nov 22): Share of Triplc tumbled on Tuesday when the settlement shares and consolidated shares started trading after the company was removed from the Practice Note 17 status.

At 11.20am, Triplc fell 30 sen to 70 sen with 63,300 shares done. The shares sold could have been those issued to settle the debts owed by the group.

The FBM KLCI was up 1.04 points to 1,435.12. Turnover was 562.05 million shares valued at RM358.04 million. There were 199 gainers, 327 losers and 241 stocks unchanged.

A Bursa Malaysia said Triplc was uplifted from the Practice Note 17 classification on Tuesday after it had regularised its financial condition.

Under the corporate exercise, there was the listing and quotation of 6.367 million settlement shares issued pursuant to the capitalisation of RM6.36 million or 25% of the RM25.47 million in debts owing by the group to certain substantial shareholders and creditors and the waiver of the remaining 75% of such debts amounting to RM19 million.

Also quoted were 64.02 million shares of RM1 each issued under the consolidation of every 100 shares of 43 sen each into 43 shares subsequent to the reduction of the paid-up b cancelling 57 sen of the par value of each of the 148.88 million shares in issue after the capitalisation.



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Stocks to watch: Triplc, Harvest, Alam Maritim, Eversendai, Mah Sing

KUALA LUMPUR (Nov 22): Market sentiment is expected to be cautious on Tuesday with investors again staying on the sidelines as the euro zone's debt crisis struck again at the heart of Europe.

In the UK, bank and commodity stocks weighed on the FTSE 100 at midday on Monday, with clouds gathering over the prospect for global growth as U.S. debt talks broke down and France was told it could lose its Aaa rating from Moody's, Reuters reported.

Meanwhile, billionaire investor Warren Buffett warned of a major flaw in the 17-member euro zone system and added it would take more than words to fix it.

At Bursa Malaysia, which saw the FBM KLCI sliding 1.4% or 20.32 points to 1,434.08, dragged by key blue chips including Genting, MISC and index-linked PLANTATION [] stocks on Monday, there would not be any rush to buy equities.

Among the stocks to watch are TRIPLC BHD [], HARVEST COURT INDUSTRIES BHD [], ALAM MARITIM RESOURCES BHD [], Eversendai Corporation Bhd, MAH SING GROUP BHD [], LATEXX PARTNERS BHD [] and UNITED PLANTATIONS BHD [].

Triplc will be uplifted from the Practice Note 17 classification on Tuesday after it had regularised its financial condition.

This will see the listing and quotation of 6.367 million settlement shares issued pursuant to the capitalisation of RM6.36 million or 25% of the RM25.47 million in debts owing by the group to certain substantial shareholders and creditors and the waiver of the remaining 75% of such debts amounting to RM19 million.

Also to be quoted are 64.02 million shares of RM1 each issued under the consolidation of every 100 shares of 43 sen each into 43 shares subsequent to the reduction of the paid-up b cancelling 57 sen of the par value of each of the 148.88 million shares in issue after the capitalisation.

Harvest Court announced Mohd Nazifuddin Najib has resigned as an independent director on Monday. He was appointed to the board on Oct 28. Nazifuddin still owns 3.98 million Harvest Court shares.

Alam Maritim’s third quarter net profit rose 50.5% to RM13.33 million from RM8.92 million a year ago, underpinned by its offshore support vessels segment. Its revenue increased by 71.3% to RM116.03 million from RM67.69 million while earnings per share were 1.70 sen compared with 1.20 sen.

Eversendai’s order book increased to RM1.60 billion with the latest contract secured by its subsidiary Shin Eversendai Engineering (M) Sdn Bhd to build part of the Manjung power plant. The contract was for the boiler and auxiliary equipment for the Manjung Unit 4, which was awarded by Alstom Services Sdn Bhd.

Mah Sing’s earnings jumped 45.6% to RM43.22 million in the third quarter ended Sept 30, 2011 from RM29.67 million.

It said the performance was underpinned by strong sales which exceeded the RM2-billion mark as up to Nov 15, due to the strong branding and the flexibility afforded by its comprehensive portfolio of PROPERTIES [].

Latexx Partners’ net profit for the third quarter ended Sept 30, 2011 fell 27.8% to RM12.73 million from RM17.63 million a year earlier, due mainly to the persistently high raw material prices and the weaker US dollar. Its revenue for the quarter slipped 6.2% to RM121.81 million from RM129.88 million in 2010.

United Plantations’ net profit for the third quarter ended Sept 30, 2011 jumped 32.6% to RM105.15 million from RM79.27 million a year earlier, driven mainly by significant improvement in the selling prices of crude palm oil (CPO) and palm kernel (PK). Its revenue for the quarter surged 59.3% to RM439 million from RM275.54 million in 2010.

The plantation company declared an interim dividend of 18.75 sen net per share for the year ending Dec 31, 2011, and a special dividend 11.25 sen net per share, to be paid on Dec 21.



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