FBM 1607.61 +0.26pts (+0.02%) Volume 789mil Value RM1,235mil
1) KLCI ended marginally positive after trading near
overnight levels for most of the day as markets lacked catalyst after US ISM
fell to 49.5 in Nov its weakest level since July 2009 from 51.7 in Oct. This
stoke fears that global economic growth could be slowing. Consumer+1.16%
outperformed the market led by Nestle+2.3%, BAT+2% and PADINI+7.6% as investors
favored defensive stocks. Market volume remained thin with market breadth
negative after decliners led advancers 375:265. Future closed 1603.5 (4 points
discount).
2) Heavyweights: MAYBANK+0.44% RM9.06, PCHEM+1.24%
RM5.73, AXIATA+0.51% RM5.93, BAT+2% RM56.62, UMW+1.66% RM11.00, IOICORP-1.83%
RM4.84, GENTING-1.45% RM8.83, PETDAG-1.53% RM23.14
3) DBT: CIMB 2.9mil @ RM7.48, ILB 1mil @ RM1.03
4) Situational:
UMW+1.66% RM11.00: News reported UMW is planning the
listing of its O&G unit next year which would raise at least USD500mil
(RM1.52bn). It also reported that UMW which is 44.34% owned by PNB has already
called investment bankers that it is considering as advisers for the IPO.
5) UEMLand/TM : UEMLand's subsid UEM Land Bhd had today
entered into a tripartite Collaboration Agreement (CA) with Telekom Malaysia
Bhd (TM) & Iskandar Investment Bhd (IIB) to participate in the provision of
communication & ICT infrastructure and telecommunication services to
realise the aspirations of a Smart & Connected Nusajaya. The parties will
collaborate in the following areas - provision of telecommunication services
(incl internet, high speed broadband, wireless connectivity via wi-fi) ,
establishment of a purpose-build data center facility, provisioning of ICT, IT
Outsourcing & Business Process Outsourcing
and a TM One-Stop Center in Nusajaya. The CA is valid for 6 months, and
the parties will work together with the intention of arriving at a Definitive
Agreement (DA) for the implementation of the proposed project - Neutral for
now.
6) Mkt: thin trade in a 2-tiered market where the KLCI
index continues its gring higher on local support while lower liners remained
under liquidation pressure from restructuring or "cleaning" of
portfolio ahead of the year end.