FBMKLCI
1837.88 -2.47pts (-0.13%)
Volume 1.148b Value 1.490b
1) The KLCI declined today even after the US market
inched higher as overall Asian region was weaker after China's HSBC Flash PMI
missed consensus (50.9 vs 50.5) as most of the indices SHCOMP -1.60%, HSI
-0.56%, NIKKEI -1.62%, STI -0.33%, ASX -0.17% all closed in negative territory.
In the local market, while O&G stocks were the most actively traded,
TECHNOLOGY index -1.03% lost the most grounds dragged down by JCY -1.78%, GPACKET -4.12%, CUSCAPI -4.76% and
CENSOF -2.63%. Market breadth was negative with losers surpassing gainers by
467 : 285. Futures closed at 1835.5 (2pts discount).
2) Heavyweights: TENAGA -0.72% RM11.00, CIMB -0.51%
RM7.69, MAYBANK -0.39% RM9.98, ASTRO -3.61% RM2.93, IHH -1.26% RM3.91, PCHEM
-0.58% RM6.76, SKPETRO +1.96% RM4.67, GENTING +1.20% RM10.10
3) DBT: KONSORT 155.462mil @ RM1.55 (61.614% PUC Block
crossed by Bendahara 1 Sdn Bhd to DRBHICOM), MATRIX 4.5mil @ RM3.25 (1.49% PUC
@ 8.5% discount), KAREX 4mil @ RM3.75 (1.48% PUC), EKOVEST 2.8mil @ RM2.90
(3.1% discount).
4) Situational:-
RHBCAP +0.38% RM7.80 - RHB Banking Group has roped in
Datuk Khairussaleh Ramli, Malayan Banking Bhd's former top executive, to help
it grow into a leading multinational financial services group in the region.
Datuk Khairussaleh is now managing director and chief executive officer of RHB
Bank Bhd. He was also appointed deputy managing director of RHB Banking Group.
5) AFFIN : announce that its wholly owned subsidiary
AFFIN Investment, had on 13 December 2013, entered into a Joint Distribution
and Marketing Agreement with Daiwa Securities Group, a financial services
holding company listed on the Tokyo Stock Exchange. The agreement will a)
facilitate the distribution of Malaysian research reports produced by AFFIN
Investment to Daiwa Securities Group's global client base and the distribution
of Daiwa Securities Group's global research to Malaysian institutional
investors on a co-branded basis, b)
provide Daiwa Securities clients with corporate access to Malaysian
issuers and companies, and providing Malaysian issuers and companies with
access to Daiwa Securities Group's clients and c) providing AFFIN Investment's
clients with corporate access to non-Malaysian issuers and companies; +ve, the
Agreement also provides for an equity trading collaboration between both
parties & represents a strategic collaboration which is mutually beneficial
& also enhances the range of Co's Investment's products and services.
Despite a good Q3 results, we remain cautious about Affin's earnings prospects,
given the suppressed margins, an expected upturn in credit costs and
below-industry loan growth & uncertainties arising from its proposed
acquisition of Hwang DBS - Hold.
6) Market: consolidation phase set to continue in the
immediate term with initial support at KLCI 1822-20 levels.
