FBMKLCI 1634.55
+7.00pts (+0.43%)
Volume 1,356mil Value RM1,740mil
1) KLCI jumped to a high of 1639.58 (+12.03pts) after US
payrolls expanded and China services industries grew at the fastest pace since
August raising optimism global economy are showing modest recovery. Index pared
its gains inline with the regionals which eased on worries recent record rally
has push markets into overbought territory. Market breadth was negative with
decliners leading gainers 405:285. Future closed 1637.5 (3points premium)
2) Heavyweights: MAYBANK+1.01% RM8.97, PCHEM+2.02% RM6.07,
PBBANK+0.52% RM15.60, GENTING+1.05% RM9.60, GENM+2.45% RM3.76, CIMB+0.56%
RM7.25, BAT+2.44% RM58.80, IOICORP-0.81% RM4.93
3) DBT: DIJACOR 33mil @ RM1.02 (4.16% PUC), BAHVEST
3.571mil @ RM0.90, GENTING 1.9mil @ RM8.04 (16.25% discount)
4) Situational:
MISC+17.3% RM5.22: PETRONAS plans to take its shipping
arm, MISC Bhd private for RM5.30 a share, a deal that values the company at
RM23.7 billion. Petronas is offering
RM8.8 billion for the remaining 37.33% stake in the world's largest single
owner and operator of liquefied natural gas (LNG) vessels. The RM5.30 offer
price works out to a 19% premium to MISC's closing price last week of RM4.45.
5) CMSB
Its 20% JV company, OM Materials Sdn Bhd has appointed
Sinohydro Corp Sdn Bhd as its lump-sum turn-key engineering, procurement and
construction contractor of its ferro alloy smelting project in Samalaju
Industrial Park, Sarawak. The company
also nominated Sinosteel Jilin Electro-Mechanical Equipment Co Ltd as sub-contractor
for the construction and commissioning of the project.
The EPC contracting framework for the project will allow
OM Sarawak to leverage on the significant large-scale project management
experience of Sinohydro Corp.
The development of this manganese and ferro alloy smelter
will be a future growth driver of the company capitalizing of the cheap source
of power from Bakun. Its 1st Phase of 310k MT is targeted for 1Q 2014.
6) Market - Remains in a tug of war between concerns over
domestic elections and improving global macro picture, range bound between
1620-1650 pts.