FBMKLCI
1627.64 -13.1 pts (-0.8%) Volume
972.3m Value RM2.45b
1) Trading was choppy, despite the firmer regional
markets, after US stocks climbed on the back of unexpected better jobless
claims data. The KLCI trended sideways for most of the day, before late selling
closed the index 13 points lower at 1627.64. Plantation -0.95% underperformed,
led by SIME-2.1%, KLK-1.6%, IOIC-1.5%. Stocks that were sold down late include
MAYBANK-2.2%, AXIATA-1.4%, DIGI-2.4%, SIME-2.1% & IJM-2.9%. Market breath
remained negative, with losers leading gainers 355:313. Futures closed 1625.5
pts ( 2.14 pts disc) .
2) Heavyweights: CARLSBERG+5.6%, RHBCAP+1.8%, DRB-3%,
BAT-1.8%, TENAGA-0.6%.
3) DBT: BJLAND 236.6m @ RM0.815 ( 4.7% PUC), SUNREIT 5.2m
@ RM1.52.
4) Situational:
SPSetia +1.5% RM3.35:
After Co announced a management succession plan that will see it's
president & CEO TS Liew Kee Sin replaced by Datuk Voon Tin Yow, current
deputy president & COO, upon his eventual retirement. Liew had ceased to be
a substantial shareholder last month & had made known his intention to
gradually sell his entire stake by 2015, and is under contract with the company
until March 2015.
5) MISC
PETRONAS today announced that they have extended the
closing date for its offer for MISC shares at RM5.30 from 19th Mar to 5 Apr.
Remember that this is a conditional offer on the basis of PETRONAS achieving
90% holding from their current 62.7%. The next largest institutional holder is
EPF with 9.63%.
6) Market - Speculation of a new date on Mar 25th for the
announcement of elections has sent investors back to the side lines. KLCI will
continue to ding dong in this range until we actually get final confirmation of
this date.
