FBM30 1566.05, +3.23 points (+0.21%), Volume 2,546.6mil, Value 2,258mil
1) KLCI swung between gains and losses falling to a low of 1560.83 (-1.99pts) in the morning after Moodys expectedly cut the debt ratings of six European countries including Italy, Spain and Portugal. Index however recovered to close at days high led by CIMB+2% and GENM+1.3% while recent penny stock outperformers continued to be under pressure after last week's heavy volume led by NICORP-14%, COMPUGT-15%, TMS-10%. Market breadth was negative with decliners outnumbering gainers 581:321. Futures closed 1559.5 (6.5 points discount)
2) Heavyweights: CIMB+2.09% RM7.31, GENM+1.3% RM3.94, PBBANK+0.29% RM10.54, MAXIS+1.05% RM5.80, KLK-2% RM25.46, TENAGA-0.97% RM6.13, YTL-2.63% RM1.48, AIRASIA-2.13% RM3.68,
3) DBT: CME 19.2mil @ RM0.085 (4.7% PUC, 15% discount) SAAG 3mil @ RM0.08
4) Situationals:
RHB+0.4% RM7.28: Share price generated buying interest in the afternoon session after news reported Aabar Investment is exploring selling its 25% stake in RHB and has engaged in early talks with Sumitomo Mitsui Banking Corp. Aabar paid RM10.80 or 2.25xBV per shares six months ago.
5) Dayang - Announced that its wholly-owned subsidiary, Dayang Enterprise Sdn Bhd, has received a contract from Talisman Malaysia Limited for the Provision of Topside General Maintenance. The Contract value is estimated to be approximately RM125.0 million with the duration of the contract being three years with the option of an extension for two years of one year each. This brings total contracts won to RM210mil ytd with orderbook of RM1.5bn. Trades at PER 11x - Trading Buy
6) Mkt - The current consolidation phase is a good chance for investors who missed out on the initial run up to position themselves in the market as we believe this market remains in a bullish phase. Stocks at buy levels include KEuro, Faber, UEMLand.
