FBM30 1514.43, +10.21 points (+0.68%), Volume 1,668.8mil, Value 1,462mil
1) Inflationary fears help drive the plantation index +2.3% as the KLCI closed at day's high bucking regionals which were mixed given concerns about the ability of eurozone countries' upcoming refinancing requirements and stagnant HSBC China PMI numbers signaling a slow and sluggish growth. Plantations was led by KLK+7%, SWKPLNT+8% and IJMPLNT+7% on bullish outlook for CPO prices. Market breadth turned positive with gainers leading losers 467:325. Futures closed 1516 (1.6 points premium).
2) Heavyweights: KLK+7.49% RM25.26, PCHEM+2.90% RM6.38, DIGI+2.37% RM3.88, CIMB+0.85% RM7.16, IOICORP+0.56% RM5.36, YTL+2.03% RM1.51, AMMB+1.05% RM5.80, ARMADA+1.50% RM4.06
3) DBT: MENANG 12mil @ RM0.22 (4.5% PUC, 10% discount), BIOSIS 7.8mil @ RM0.38 (7.4% PUC), SYF 6.7mil @ RM0.55 (2.5% PUC)
4) Situationals:
XDL+12.33% RM0.41: The Board of Directors of XDL, after making an enquiry with its major shareholder, HongPeng International Holdings Ltd, confirmed that Navis Capital had indicated their intention to acquire the entire shareholdings of HongPeng during an informal discussion.
5) Genting Msia
Announce that its indirect wholly-owned subsidiary, Genting New York LLC ("Genting NY"), has entered into a non-binding letter of intent dated 3 January 2012 with the New York State Urban Development Corporation, to consider the development of an integrated mixed-use complex on real property located adjacent to the Aqueduct Racetrack, Queens, New York, United States of America.
The proposed Project is anticipated to cost at least USD4 billion, which will include an integrated 3.8 million square feet of convention and exhibition centre with up to 3,000 hotel rooms and an expansion of Resorts World Casino New York City.
Genting NY will work closely with Empire State Development Corporation and the relevant parties, to negotiate terms in good faith, with a view of entering into a binding Memorandum of Understanding on or before 30 November 2012.
+ve as this could be in anticipation of expanding its current license for electronic games in Resorts World Genting New York to eventually move towards offering table games and eventually becoming a full fledge casino.
6) Market - Rotational play on mid caps/second liners to continue to dominate, should see spillover of the current buying interest into laggard plantation counters, TDM, RSawit, TWS Plt.