FBMKLCI
1816.14pts +7.55pts (+0.42%)
Volume 1.938b Value 1.866b
1) The KLCI continued its strong rally for a 4th day in a
row as the US market shrugged off the weaker jobs data on Friday. In the
regional market, most of the indices were higher today, SHCOMP +2.03%, NIKKEI
+1.77%, ASX+1.08%, just before the release of Chinese inflation data later this
week; China's market was also boosted by the better consumer spending during the
Lunar New year. In the local market, Property index +1.68% outperformed the
market today after UEMS +2.85%, IJMLAND +3.71%, SUNWAY +1.89%, UOADEV +2.70%,
rebounded after languishing at lower levels. Market breadth was positive with
gainers beating losers by 530 : 267. Futures closed at 1815.5 (1 pts discount).
2) Heavyweights:
CIMB +1.99% RM7.15, IOICORP +1.94% RM4.19, GENTING +0.99% RM10.16, MISC
+2.13% RM6.23, TENAGA +0.51% RM11.80, SKPETRO +0.88% RM4.55, PCHEM +0.59%
RM6.75, PBBANK +0.21% RM19.12.
3) DBT: BRAHIMS 10mil @ RM2.25 (4.43% PUC), DVM 10mil @
RM0.07 (1.72% PUC), MPAY 5mil @ RM0.175 (1.366% PUC @ 12.5% discount), HOHUP
4.712mil RM1.10 (2.63% PUC @ 18.6% discount), YINSON 1.79mil @ RM7.10 (4.5%
discount).
4) Situational:-
PDZ 0.00% RM0.12 - PDZ rose to a high of 13.5sen after
news reported it plans to venture into oil and gas to diversify its income
stream. Sources say company is in talks with a China-based oil and gas player
and second-tier contractor with Petroliam Nasional Bhd for an asset acquisition
exercise.
5) Southern Steel
1H Dec 2013 Tover RM1.383bn Net RM(1.9m) EPS (0.5sen)
Cons (f)
RM38m
The company managed to record PAT of RM2.26m during the
2Q, mainly contributed by better margin from higher selling prices as compared
with the corresponding quarter of FY 2013 but negated by higher losses from
associates.
More trade remedial actions are being pursued to counter
the influx of cheap steel products from China. Although the effectiveness of
these measures has yet to be seen, it does provide relief to the local industry
and positive impact is expected in the fourth quarter of the financial year
ending 30 June 2014. However, the recent price increase in electricity and the
anticipated related cost increases will exert cost pressure to the industry.
Hence although a recovery is expected in 2H numbers, overall performance will
still be suppressed by rising cost. Remains an out of favour industry. Hold
6) Market - Consolidation at around these levels are
expected after the market bounced 2.7% from recent low of 1770pts.
