FBM30 1633.45
+0.98points (+0.06%) Volume
1,176mil Value 1,647.6mil
1) KLCI traded sideways following a weaker DOW overnight
while investors stayed on the sidelines ahead of ECB policy announcement
tonight where investors are hoping ECB president Mario Draghi will act on his
promise to protect the Euro region. Index was held up mainly by gains from
TENAGA, PETGAS as broader market was weaker with market breadth negative after
decliners outpaced advancers 465:303. Futures closed 1637.5pts (4points
premium).
2) Heavyweights: TENAGA+2.95% RM6.99, PETGAS+3.78%
RM19.24, GENM+2.69% RM3.43, GENTING-2.15% RM9.12, IOICORP-1.13% RM5.26,
PCHEM-0.91% RM6.55, YTL-1.1% RM1.80, ARMADA-3.08% RM3.77
3) DBT: POAS 2.7mil @ RM0.50, CWORKS 2.1mil @ RM0.18
4) Situationals:
MUDAJYA+0.4% RM2.57: Company secured contract worth
RM30mil to undertake a project to construct the entrance and exit road from
the North South Highway to a site at Kampung Sungai Serai in Rawang Selangor.
F&N+4.60% RM20.00: Volume picked up following news
report that Coca Cola Co. is exploring a bid for the beverage business of
Singapore's Fraser and Neave Ltd held under F&N Foods Pte. and Kuala
Lumpur-listed Fraser & Neave Holdings Bhd.
5)SAPURAKENCANA
Announced its wholly-owned subsidiary companies in
Australia had been awarded a contract by PTTEP Australasia (Ashmore Cartier)
Pty Ltd for the provision of the vessel "Normand Clough" a Vessel to
support the hook-up and commissioning activities of the Montara Development
Project.
The Contract is for the provision of the Vessel and the
Vessel personnel, the operation, navigation and management of the Vessel, the
operations or work to be performed using the Vessel and any other
responsibilities and obligations imposed under the Contract in respect of the
Montara Development Project. The Montara field is located approximately 700km
west of Darwin in the Timor Sea, off the coast of Northern Australia.
The value of the Contract amount with options exercised
is approximately AUD$14.8 million with a duration of 3 months, commencing
early October 2012 following the Normand Clough campaign in Sakhalin.
+ve but recent run up is more likely related to
expectations of securing significant domestic contracts in EPCIC and fabrication.
6) Market - The unlikely hood of any action coming from
the current FOMC meeting disappointed markets as traders trimmed positions
ahead of the weekend. Further falls may occur if no definitive measures are
taken by the ECB today. Short term support levels at 1625pts/ 1609pts.