Monday, February 25, 2013

Market Roundup | 22 Feb 2013


FBMKLCI 1622.08      +8.03pts (+0.50%)           Volume  831.6mil         Value RM1,497mil
 
1) KLCI rose in tandem with the regional markets as positive corporate earnings led by Maybank and Axiata saw market closed at day's high recovering from recent selldown on concern of the impending GE13. Contruction names continued to outperform the market led by GAMUDA+1.6% , MRCB+3.2%, IJM+0.8%. Broader market were thinly trade with market breadth turning positive as gainers led decliners 388:259. Future closed 1617 (5points discount)
 
2) Heavyweights: MAYBANK+1.57% RM9.07, IOICORP+2.65% RM5.03, AXIATA+0.63% RM6.37, GENTING+0.94% RM9.67, GENM+1.96% RM3.63, PETDAG+2.46% RM23.36, PCHEM-1.27% RM6.21, DIGI-0.66% RM4.55
 
3) DBT: DIALOG 47.5mil @ RM2.30 (1.96% PUC), KASSET 16.129mil @ RM0.045 (3.1% PUC, 25% discount)
 
4) Situational:
DRBHCOM unch RM2.49: DRB-HICOM Bhd is partnering with Saudi International Trading and Marketing Ltd (SITM) to bid for airport ground handling services in Saudi Arabia.  Company has signed a memorandum of understanding with SITM through its wholly-owned subsidiary, KL Airport Services Sdn Bhd (KLAS). The company said once they receive an invitation from Saudi Arabia's General Authority of Civil Aviation (GACA), both parties will conduct the feasibility study and submit the bid.
 
5) HL Bank
Their CEO today mentioned that its 20% China affiliated, Bank of Chengdu Co Ltd could be listed by the end of the year on the Shanghai Stock Exchange depending on market conditions. Application for its listing was apparently submitted in May last year to issue 800m new shares to help prop up its capital adequacy ratio. +ve
 
6) Market - The much mentioned date of 22nd Feb for announcement of elections has now passed without incident and thus will see the market continue to drift along with this uncertainty overhang.