FBMKLCI
1859.72 +3.77pts (+0.20%)
Volume 2.079b Value 2.321b
1)The KLCI rebounded for a 2nd day after the US market
recorded yet another +1% gain as minutes from the Fed Reserve's minutes eased
concerns about the timing of future interest rate hikes. In the regional
market, optimism in the West boosted sentiments as SHCOMP +1.38% and HSI +1.51%
both closing in positive territory despite the weaker China export numbers. In
the local market, water related stocks picked up on activity after earlier
reports suggested that the Langat 2 Water Treatment Plant project will be
announced soon benefitting names such as AZRB
+11.85%,SALCON +5.33%, MMC +0.70%, other water stocks also gained,
ENGTEX +3.96%, JAKS +2.85%, KPS +2.59%. Market breadth was positive with
gainers beating losers by 546 : 306. Futures closed at
2) Heavyweights : FGV +2.64% RM4.66, BAT +1.75% RM61.42,
AXIATA +0.45% RM6.67, GENM +1.17% RM4.29, MAYBANK+0.30% RM9.75, SKPETRO -1.57%
RM4.38, GENTING -0.91% RM9.70, UMW -1.78% RM10.98.
3) DBT: SKPETRO 230mil @ RM4.30 (3.83% PUC), PWORTH
14.17mil @ RM0.18, GBGAQRS 4mil @ RM1.31
4) Situational:-
DSONIC -2.30%
RM3.82 - : Datasonic Group Bhd is buying a 99.45% stake in a smart card maker
and another dormant company from Formosa Prosonic Industries Bhd (FPI) for RM22
million. Formosa is disposing a 99.45% stake in Asia Pacific Card & System
Sdn Bhd (APCS) and its entire stake in Constant Ahead Sdn Bhd. ACPS
manufactures electrical integrated circuit cards, commonly known as smart cards
and its related products.
5) Water Sector - Opposition-run state, Selangor, will
review the water assets takeover following appeals made by concessionaires,
Chief Minister Khalid Ibrahim says in e-mailed statement. Selangor was also
told to review buyout plan by the Ministry of Energy, Green Technology after
Puncak Niaga and Syabas sent in their appeals. However, the Chief Minister
reiterated that the takeover cost must not exceed the latest offer of RM9.65b.
The stalemate is likely to continue unless the Selangor
state allows & accepts an earlier indicated assistance of RM2b from the
Federal government to resolve the compensation issue, especially to Gamuda's
SLASH as the existing offer from the state is only about 10% of SLASH's NTA.
But with the state willing to review the takeover offer coupled with the
current critical water crisis in Selangor, Putrajaya & Kuala Lumpur and the
ensuing pressur from its citizens, a likely compromise is possible.
6) Market: The KLCI index is likely to trade sideways
while interest continues in the water, construction and oil & gas sectors.
