FBM30 1579.00 +0.64 points (+0.04%) Volume 1,307mil Value 1,367mil
1) KLCI ended flat underperforming the regionals which rallied after Greece completed the biggest sovereign debt restructuring in history while slower China inflation may allow authorities ease its monetary stance. Index touched a high of 1582 (+3.64pts) before paring its gains after midday as China announced a slower growth in industrial production and retail sales which missed estimates. Volume fell further as investors stayed on the sidelines ahead of BNM's monetary policy meeting this evening. Broader market was slightly negative with decliners edging gainers 388:369. Futures closed 1577 (2points discount).
1) KLCI ended flat underperforming the regionals which rallied after Greece completed the biggest sovereign debt restructuring in history while slower China inflation may allow authorities ease its monetary stance. Index touched a high of 1582 (+3.64pts) before paring its gains after midday as China announced a slower growth in industrial production and retail sales which missed estimates. Volume fell further as investors stayed on the sidelines ahead of BNM's monetary policy meeting this evening. Broader market was slightly negative with decliners edging gainers 388:369. Futures closed 1577 (2points discount).
2) Heavyweights: TENAGA+2.08% RM6.39, MAYBANK+0.23% RM8.74, GENM+0.77% RM3.89, KLK+0.6% RM23.40, DIGI-0.74% RM4.02, CIMB+1.1% RM7.34,
HLBANK-0.8% RM12.28
HLBANK-0.8% RM12.28
3) DBT: IGB 13.3mil @ RM2.70 (2.5% discount), WINSUN 3.8mil @ RM0.18 (28% premium), PETONE 3.2mil @ 0.80 (5.9% discount)
4) Situationals:
AZRB+14.6% RM1.02: Share price jumped after midday as company held a media briefing together with MMC-GAMUDA as PDP for KVMRT. The package V6 worth RM764.9mil won by AZRB will commence work from end March 2012 with expected practical completion date of June 2016.
AZRB+14.6% RM1.02: Share price jumped after midday as company held a media briefing together with MMC-GAMUDA as PDP for KVMRT. The package V6 worth RM764.9mil won by AZRB will commence work from end March 2012 with expected practical completion date of June 2016.
5) ECOMONICS
At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent.
At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent.
In the domestic economy, latest indicators and surveys of businesses point to continued expansion in private consumption and business spending. Going forward, domestic demand will continue to drive the expansion of the Malaysian economy. Private consumption will be supported by stable employment conditions, income growth and public sector measures. Investment activity will be supported by the domestic-oriented industries, the commodity sector and the public sector.
Headline inflation is expected to moderate in 2012. Nevertheless, upside risks to inflation could emerge arising from the risk of supply disruptions and the possible financialisation in commodity markets, which would result in higher energy and commodity prices.
- the comments from BNM today indicate continued passive stance in the current market environment with external factors remaining the main concern.
6) Market - Better prospects for market to resume rally next week after the Greek debt swap issue is resolved and ahead of tonight's US unemployment numbers. Assuming no negative surprises tonight, we expect the KLCI to retest the recent high of 1594pts.
