1) KLCI outperformed the region and ended at day's
high as buying interest continued in key
heavyweights led by Telco names and Tenaga. Regional were mixed after positive comments from Premier
Wen Jiabao on possible stimulus was offset by worries ECB might changed its
stance on how bondholders could be treated under Spain's bank bailout.
Investors will now look ahead for any hints of new stimulus by Bernanke in the
congress meeting. Market breadth was positive with advancers leading decliners
476:299. Futures closed 1632.5pts (3.5points discount).
2) Heavyweights: AXIATA+1.74% RM5.84, TENAGA+2.13%
RM6.70, YTL+3.68% RM1.97, TM+1.69% RM6.02, MAXIS+1.53% RM6.65, UMW+1.94%
RM9.99,
GENM+1.11% RM3.64, DIGI+0.46% RM4.33
3) DBT: DGSB 12.8mil @ RM0.06 (14% discount), INGENS
10.2mil @ RM0.114 (1.8% PUC), SEG 5mil @ RM1.90 (8.2% discount)
4) Situationals:
BRAHIM+4.72% RM1.11: Share price was firmer after news
reported shareholders has approved the acquisition of a 60% stake
in Admuda Sdn Bhd which holders a license to manufacture refined sugar and
molasses in Sabah and Sarawak. This is only the third license awarded by the
government in over 20 years.
5) Maxis: Electronic payment system provider Touch &
Go SB (TNGSB) will introduce the near field communication (NFC) smartphone
applications that will enable customers to use their smartphones as Touch &
Go card in 2 months time, and that it was collaborating with Maxis & CIMB
for the pilot project, said TNGSB CEO. NFC is a short range wireless technology
that enables the communication between devices over a distance of a few
centimetres. The mobile NFC services will bring a whole new dimension to a
customer's digital life. TNGSB plans to offer the services with other telcos
too after 6 months - Neutral.
6) Mkt: the plantation, finance and telco sectors will
continue to lead the KLCI index higher; the broad market will maintain sideways
trade with external events - newsflows on policies to fine-tune the broad
agreements to deal with the debt crisis of the EU summit, the US corporate
reporting season and Bernanke semi-annual testimony to Congress the primary
focus.
