1) KLCI managed to register a gain, rebounding from low
of 1579.53 (-2.86pts) as a slew of disappointing economic data in
Europe and US capped investors participation on concern growth in global
economy might slow. Investors will now instead focus on ECB policy meeting
today and tomorrow's US Job numbers for further market direction. Broader
market turned negative with losers edging gainers 390:344. Futures closed 1582 (1 point discount).
2) Heavyweights: AIRASIA+8.11% RM3.60, TM+1.29% RM5.48,
DIGI+0.5% RM4.06, CIMB+0.3% RM7.54, GENTING-1.50% RM10.50, PBBANK-0.58%
RM13.72, IOICORP-0.95% RM5.24, PCHEM-0.46% RM6.55
3) DBT: ATLAN 20mil @ RM4.25 (7.9% PUC, 3.4% discount),
RPB 15.3mil @ RM0.38 (1.8% PUC, 8.4% discount), TFP 7.7mil @ RM0.15
(5.5% PUC, 21% discount)
4) Situationals:
MAS+1.6% RM1.24/AIRASIA+8.11% RM3.60: Share price were
firmer after the share swap between Khazanah and Tune Air has been called
off with both parties instead signing a supplementary agreement between MAS,
AIRASIA, and AIRASIA X to set up a SPV to procure identified goods and
services.
5) CIMB: the group is set to start business in Australia
in the next 3-4 months, said group MD & CEO. CIMB enters the Australian
investment banking industry after acquiring the majority of the Royal Bank of
Scotland's (RBS) Australian business. Australian corporates that have Asian
interest will find a network & reach that is quite unique at CIMB, CEO
added. To recap, CIMB bought RBS's Australian equities, equity capital markets,
mergers & acquisition business as part of it's GBP 173.9m purchase of most
of the RBS's Asia Pacific investment banking unit ; Neutral. CIMB has seen the
RBS deal as a way to build it's regional presence faster & cheaper than by
growing organically.
6) Mkt: volume will continue to be dominated by lower
liners with lackluster sideway trades on index stocks as investors await the US
jobs data.