FBM30 1617.99
-23.02 points (-1.40%) Volume
1,303mil Value 1,989.6mil
1) KLCI came off sharply for the 2nd consecutive days led
by banks and plantations as investors took opportunity to lock in profits
following recent record rally on rumours PM could be calling for general
election. Index fell to a low of 1613.16 (-27.85pts) before
recovering in late trading. Market bucked positive regionals which rose as
investors await ECB announcement on its bond-buying program today. Market
breadth was negative with decliners trashing advancers 739:157. Futures closed
1611.5pts (6.5 points discount).
2) Heavyweights: AXIATA-3.22% RM6.02, CIMB-2.58% RM7.54,
MAYBANK-1.53% RM9.00, GENTING-2.68% RM8.70, PETGAS-2.82% RM18.64, TM-2.44%
RM5.99, PBBANK-0.7% RM14.22, DIGI-1.24% RM4.78
3) DBT: HAPSENG 80mil @ RM1.50 (3.65% PUC, 5.7%
discount), ASIABIO 5mil @ RM0.085
4) Situationals:
BHIC-3.76% RM2.05: BHIC's 21%-owned Boustead Naval
Shipyard (BNS) has been served a RM100mil legal suit by Raja Jaafar Raja Harun
and Ingat Kawan (M) Sdn Bhd. Under suit, the plaintiffs are claiming general
damages against BNS and BNS' head of warehouse, logistics and materials
handling department Md Yusoff Biran arising from an alleged defamation by the
defendants. Another legal suit is claiming against BNS for an unspecified
general damages, special damages of RM50 million, interest at 10% per annum on
the said amount of RM50 million calculated from 7 September 2011.
5) IGB
Following the completion of the bookbuilding process
under the Institutional Offering, the company announced that the Institutional
Price and Final Retail Price have been fixed, as set out as Institutional
Price: RM1.25 and Final Retail Price: RM1.25. The REIT will be listed on the 21 Sep and become the
largest listed REIT with a market cap of RM4.25bn.
6) ECONOMICS
At the Monetary Policy Committee meeting today, Bank
Negara Malaysia decided to maintain the Overnight Policy Rate at 3.00 percent.
It however acknowledged that emerging economies including in Asia, domestic
demand is showing signs of moderation amid sustained weakness in external
activity. It also highlighted that investment activity, will continue to be
mainly driven by capital spending in the domestic-oriented industries, the oil
and gas sector and the on-going implementation of infrastructure projects.
7) Market - Immediate trend to be dictated by ECB's
decision tonight at local time 1945. Stock that have recently been sold down to
attractive levels include, TNB, GENTING, SAPURAK, AirAsia, PPB
