FBM30 1642.95
+14.55 points (+0.89%) Volume
1,066mil Value 2,074mil
1) KLCI ended the week on a positive note as key
heavyweights surged in line with the bullish regionals which rose on US Federal
Reserve's decision to have an open ended bond buying program to boost the US
economy. Index ended at day's high following mark ups of PETDAG, KLK, GENM.
Market breadth was positive with advancers trashing decliners 561:209. Futures
closed 1638.5pts (4.4 points discount).
2) Heavyweights: MAYBANK+1.40% RM9.40, CIMB+1.45% RM7.69,
GENTING+1.78% RM9.13, PETDAG+5.56% RM22.78, AIRASIA+5.08% RM3.10, GENM+2.76%
RM3.72,PETGAS+1.94% RM18.96, DIGI-0.81% RM4.90
3) DBT: BJCORP 13.3mil @ RM0.675, ASUPREM 4.5mil @ RM0.22
(43% discount)
4) Situationals:
MBFHLDG+9.9% RM1.22: Share price jumped after midday with
news reporting that MBF's group CEO, Tan Seri Mogan Lourdenadin, told
the press that MBF would be disposing more non core assets and could distribute
up to 60sen in dividends. Shareholders has approved the disposal of its credit
card business to AMMB for RM623.4mil.
5) GENM
GENM announced today that its collaboration activities
with its various Vietnam partners that started in Dec 2010 have been mutually
ended. It had initially been conducting feasibility studies for a
casino/integrated resort in the northern province of Quang Ninh, potentially
with a project value of USD4bn. GENM is
presently not pursuing any other interests in Vietnam.
This move could be seen as positive allowing the group to
concentrate on expanding facilities in the domestic casino, and capitalizing on
the turn around in UK plus continue to lobby on both fronts of NYC and Miami in
the US.
6) Market - A less eventful week lies ahead after the
expected ECB and FOMC stimulus announcements in the past weeks, hence profit
taking likely to set in with the market resuming a consolidation pattern
between the 1615-1650pt levels. The market will be closed on the 17 Sep for
Msia Day.