FBM30 1625.49
-3.96 points (-0.24%) Volume
1,279mil Value 1,681.5mil
1) KLCI ended weaker as regionals succumbed to selling
pressure after FOMC minutes dampened hopes for fresh stimulus in the near term.
An unexpected drop in Australia employment also deepened worries on the
strength of the global economy. Index touched a high of 1632.94(+3.49pts) before closing near its day's low as investors
decides to take profit following record rally. Market breadth turned negative
with losers trouncing gainers 478:289. Futures closed 1623.5pts (2 points
discount).
2) Heavyweights: GENTING-2.04% RM9.60, TENAGA-1.80%
RM6.53, YTL-3.09% RM1.88, AMMB-0.46% RM6.46, ARMADA-0.74% RM4.00, TM+1.22%
RM5.81, PBBANK+0.28% RM14.10, GENM+0.84% RM3.62
3) DBT: UMLAND 62.6mil @ RM2.50 (20.7% PUC, 6% premium,
matched Temasek Holdings Private Ltd stake), CSL 20mil @ RM1.11 (1.7% PUC),
PARAMON 8mil @ RM1.58 (2.4% PUC, 8.1% discount)
4) Situationals:
HINGYAP+13% RM1.90: Company generated buying interest
after announcing plans to acquire 6 entities from Asia Brands Corp Bhd for
RM245mil. The six companies include Anakku, Audrey, Mickey Junior. Acquisition
will be satisfied via RM179.3mil cash with RM65.7mil via issuance of 30.137mil
new Hing Yiap shares at RM2.18 per share.
5)IHH
The Global Institutional Tranche of 138m shares today
were priced at RM2.80 after a book building process. This is at it
higher end of the guided range and was apparently 100x oversubscribed.
It also announced today that under its Price Stabilistion
Mechanism , the maximum period during which the Stabilising Manager may stabilise
the price of the Shares shall be from the commencement of trading of the Shares
on the Main Market of Bursa Securities and the Main Board of SGX-ST until the earlier of the date falling 30 days from and including
the Listing Date, or (ii) the date when the Stabilising Manager has bought or
caused to be bought, on the Main Market of Bursa Securities and/or the Main
Board of SGX-ST, an aggregate of up to 169,429,366 Shares, which is the lower of (i) the amount
representing 15.0% of the total number of Shares (including the Shares to be
offered to the cornerstone investors); and (ii) the amount representing 20.0%
of the total number of Shares (excluding the Shares to be offered to the
cornerstone investors) to undertake stabilising action.
Listing date is set for the 25th of July with
expectations of an opening price ranging from RM3.00-RM3.20.
6) Market - The market is entering a consolidation phase
with market breath today turning decisively negative despite only a marginal
dip in CI. Apart from the plantation sector, we expected profit taking to
follow through ahead of the weekend especially in overbought counters like
CIMB, HLBank, KJoo, Maxis, Axiata, GentM, F&N, MPHB.
