FBM30 1555.18
-18.41points (-1.17%) Volume
677.6mil Value 1,144mil
1) Global equities was sold off as KLCI ended at day's
low following disappointing US job growth figures and a weak China service
industry, raising concern the debt situation in Eurozone are causing a slowdown
in the global economy. Plantation-2.26% was the biggest sector loser led by
IOI, KLK after CPO futures broke RM3,000/MT falling to a low of RM2925/MT its
lowest level since Nov'11. Broader market was negative with decliners trashing
advancers 674:114. Futures closed 1552 (3 points discount).
2) Heavyweights: IOICORP-3.66% RM5.00, GENTING-3% RM9.70,
MAYBANK-1.04% RM8.60, PCHEM-2.10% RM6.52, GENM-4.07% RM3.54, TENAGA-1.38%
RM6.42, PPB-2.33% RM15.92, PBBANK-0.44% RM13.64
3) DBT: GPRO 11.2mil @ RM0.05 (4.5% PUC, 47% discount),
HWGB 5mil @ RM0.38, IJACOBS 4.5mil @ RM0.165 (3.75% PUC, 26.6% discount)
4) Situationals:
GENM-4.07% RM3.54: share price fell after news reported
they are not the only party being considered for a planned USD4bn mega
convention centre that could come with a casino license. MGM Resorts
International is among the companies in the queue.
5) ALAM M
Announced that Alam Radiance (L) Inc, a jointly
controlled company signed a Memorandum of Agreement with Pacific Crest Pte Ltd,
Singapore for the purpose of acquiring a Accommodation Work Barge identified as
Crest Station 3. Crest Station 3 is purchased at a consideration of USD31.55m;
equivalent RM94.65m only. Upon delivery, Crest Station 3 is expected to serve a
contract with Exxonmobil Exploration and Production Malaysia Inc, announced on 28 May 2012. +ve as this contract generates above market
rates but expected. BOW
6) Market - Weakness to persist without a fresh round of
stimulus from the US and China while Euro debt worries will continue until some
form of jointly issued debt is agreed upon to help recapitalize the banking
system. Track these events for a rebound.