FBM 1641.57
+9.42pts (+0.58%) Volume 899.7mil
Value RM1,596mil
1) KLCI broke above 1640pts levels as key heavyweights
continued to rally for the 6th day running led by AXIATA, TM, and PCHEM.
Regionals were marginally higher as investors paused following recent rally
ahead of the Federal Reserve's policy meeting starting tonight and progress on
US budget resolution. Market breadth remained positive as advancers outpaced
decliners 370:280. Future closed 1644 (2.5points premium).
2) Heavyweights: AXIATA+2.26% RM6.33, TM+3.84% RM5.68,
PCHEM+2.56% RM6.02, SIME+0.77% RM9.12, IOICORP+1.22% RM4.99, DIGI+0.82% RM4.90,MAXIS+1.54% RM6.60, YTL+2.2% RM1.87, TENAGA-0.58% RM6.92
3) DBT: PELIKAN 36.117mil @ RM0.70 (7.043% PUC), EIG
20mil @ RM0.50 (10.82% PUC), BRAHIMS 10.6mil @ 1.05 (4.935% PUC)
4) Situational:
P&O+3.94% RM1.32: Pacific & Orient Bhd (P&O)
has proposed to dispose of a 49% stake in Pacific Orient Insurance Co Bhd (POI)
to Sanlam Emerging Markets Proprietary Ltd for RM270mil cash. The proposed
divestment was expected to be completed by the first half of 2013. Upon completion
of the deal, P&O would still hold a 51% stake in POI, while the South
African financial group would hold the remainder stake.
5) Hektar REIT: announced that it has carried out a
revaluation exercise on the following properties - Subang Parade, Mahkota
Parade & Wetex Parade - to determine their current market value. It has
resulted in a revaluation surplus of RM17.7m (RM5.2m, RM7.6m & RM4.9m
respectively). This represents a surplus of approximately 2% over the unaudited
net book value of RM823.6m as at Sept 30, 2012. The net asset value per unit
will increase from RM1.4672 to RM1.5226 upon incorporation of the revaluation
surplus (or equivalent to 5.53 sen per unit) - Neutral, exercise for accounting purpose as per
FRS140 requirement.
6) Mkt: rotation into lower liners as index stocks
approach a key resistance of KLCI 1645-1650 level.