FBM30
1588.1 pts +5.12pts (+0.32%) Volume 1.94b Value RM1.66b
1) The KLCI was relatively subdued despite the strong US & regional showing, as investors welcome comments from the Fed chairman. He signaled that supportive monetary policy will remain even though the job picture has begun to improve. The index jumped on opening to a high of 1591.03 before easing to close at 1588.1, as concerns of the upcoming election kept investors on the sideline. Penny stocks continued to dominate volume, with the top 10 vol stocks accounting for some 41% of the day's volume. Market breath was slightly positive, with gainers
edging losers 389:381. Futures closed 1592 ( 3.9 pts prem). .
1) The KLCI was relatively subdued despite the strong US & regional showing, as investors welcome comments from the Fed chairman. He signaled that supportive monetary policy will remain even though the job picture has begun to improve. The index jumped on opening to a high of 1591.03 before easing to close at 1588.1, as concerns of the upcoming election kept investors on the sideline. Penny stocks continued to dominate volume, with the top 10 vol stocks accounting for some 41% of the day's volume. Market breath was slightly positive, with gainers
edging losers 389:381. Futures closed 1592 ( 3.9 pts prem). .
2) Heavyweights: CIMB +0.7%, Maybank unch, AirAsia -3.2%, Axiata +0.2%,Genting +0.5%, Maxis +0.2%, Gamuda +1.1%, Digi +0.8%.
3) DBT: GPacket 10m @ 0.495 ( 14% disc) , Premier 8m @ 0.40, Complete 5.9m @ 0.36.
4) Situationals;
IOIC +0.6% - on the possibility of registering a paper gain of USD226m ( RM696m) from it's investment in Indonesia based Bumitama Agri Ltd following it's impending listing on the SGX. IOIC has a 33% stake, which will be reduced to 30.4% upon completion of the IPO.
Mahsing -1.3% - after announcing that it will be undertaking a joint development on a 1.72 ha parcel of prime leasehold commercial land in Harbour City, Kota Kinabalu. It will be a niche project with a proposed GDV of RM830m.
5) CMSB
Announced today that the Heads of Agreement between Rio Tinto Aluminium (Malaysia) Sdn Bhd , a wholly owned subsidiary of Rio Tinto plc, and Samalaju Aluminium Industries Sdn Bhd, a wholly owned subsidiary of CMS, and the Memorandum of Understanding between Sarawak Energy Berhad , CMS and RTA had both been terminated amicably by mutual agreement.
Reason cited was their inability to finalise commercial power supply terms with SEB which would meet the parties' current respective financial considerations and economic imperatives.
6) Market - Upbeat markets in the US and Europe is set to keep the KLCI
in a tight trading range but ongoing talks of a General Election will see traders largely on the side lines. Most probable date remains in the month of June.
