FBMKLCI
1720.37 -24.48pts (-1.40%)
Volume 2.435b Value RM3.443b
1) The KLCI gapped down -20pts at the opening following
weaker 2Q GDP numbers and release of FOMC minutes that showed support for QE
tapering. Index touched a low of 1710.17 (-34.68pts) after midday before some
bargain hunting saw markets recovered to close down 25pts. Regional markets
bounced off low after HSBC PMI came in better than expected. In the local
market, BANKING stocks continue to see plenty of liquidity as CIMB, MAYBANK
and AMBANK lead in volume among the
bluechips. Market breadth was negative with losers once again towering over
gainers by 904 : 76. Futures closed 1713pts (7 pts discount).
2) Heavyweights : TENAGA -3.83% RM8.52, PBBANK-1.40%
RM16.90, MAYBANK-1.30% RM9.87, MAXIS-2.08% RM7.00, IOICORP -1.88% RM5.20,
AXIATA -1.05% RM6.58, GENM -2.41% RM4.05, CIMB -0.78% RM7.56, RHBCAP-5.2%
RM7.30.
3) DBT : TIGER 5mil @ RM0.245 (1.295% PUC @ 6.5%
premium), TECFAST 4.939mil @ RM0.10 (3.168% PUC @ 13.1% discount), AFG 2.3mil @
RM5.40 (6.9% premium)
4) Situational:-
KIMLUN -1.01% RM1.95: Kimlun announced its unit, Kimlun
Sdn Bhd, had secured a contract to construct two towers of serviced apartments
and ancillary buildings in Johor Bahru. The job, awarded by Wealthy Growth Sdn
Bhd, a subsidiary of IOI Properties Berhad, is worth RM296.4mil, with work
expected to be completed by May 2016.
5) WCT
1H June 2013
Tover +32% RM973.5m Net +25.6%
RM99.9m EPS 9.5sen
In line with cons(f) RM202m
The better numbers were attributable to
civil engineering and construction which recorded revenue of RM666m and op
profit of RM89m due to higher contribution from the local div. Property
development and investments saw revenue grow 54% to RM307m and op profit of
RM62m due to higher sales recorded from property launches. Company declared an
interim div of 3.5sen.
Outstanding order book of RM2.8bn and the best local
proxy for exposure to Qatar World cup contracts. BOW
6) Market - Current sell off momentum could see the
market test the 1700pts level with a stronger support at 1680pts.
