FBM30 1614.24
-6.80 points (-0.42%) Volume
961mil Value 1,789mil
1) KLCI fell further in morning session reaching a low of
1601.31 (-19.73pts) before staging a rebound on bargain hunting
after reports that Malaysia's budget deficit for 2013 will narrow from 4.7% of
GDP allaying fears of a possible rating downgrade by agencies. Regionals ended
mixed as investors awaits decision from FOMC meeting and court ruling about
whether Germany can participate in a European rescue fund. Market breadth was negative with loser trashing gainers
604:199. Futures closed 1603.5pts (11 points discount).
2) Heavyweights: CIMB-1.62% RM7.28, TENAGA-1.78% RM6.63,
HLBANK-2.69% RM13.00, MAXIS-1.31% RM6.78, PPB-1.86% RM12.68, AIRASIA-2.74%
RM3.19, IOICORP+1.60% RM5.07, PCHEM+1.75% RM6.39
3) DBT: MULPHA 13.2mil @ RM0.39, NYLEX 8.5mil @ RM0.535
4) Situationals:
ECS+3.9% RM1.60: Company is proposing to undertake a
proposed bonus issue of on the basis of one Bonus Share for every two
existing ECS shares held on an entitlement date to be determined later.
5) BJCorp: announced that it's subsidiary Bremaz Motor SB
had on Sept 11 entered into a JVA with Mazda Motor Corp (30:70) to
produce & distribute Mazda vehicles in Malaysia. The objective of the JV is
to increase more local assembly & manufacturing activities of Mazda models
in Malaysia, following the initial start-up CKD programmes for the Mazda3 in Inokom; +ve, logical extension of Bremaz Motor
in it's handling of the Mazda brand locally & will be able to respond
quicker to the needs of the market. JV will be capitalized at JPY 2.1b (RM84m).
6) Mkt: cautious trading to persist as bargain hunting
surfaced at oversold levels yet fears of an imminent general election will
continue to cap any bounce.