FBMKLCI 1650.93
-0.91pts (-0.06%)
Volume 842mil Value RM1,421mil
1) KLCI rose to a high of 1656.65 (+4.81pts) before
slipping into negative territory by midday as investors took opportunity to
lock in gains following recent rally. Regionals were also flattish as investors
awaits outcome from ECB meeting on Thursday for any further signs of stimulus
and key US employment numbers due on Friday. Market breadth remained positive
with advancers leading decliners 378:305. Future closed 1655 (4points premium).
2) Heavyweights: GENTING-1.20% RM9.90, PBBANK-0.25%
RM16.14, GENM-1.12% RM3.53, YTL-1.18% RM1.67, UEMLAND-2.76% RM2.47, CIMB+0.69%
RM7.25, BAT+2.13% RM62.30, MAYBANK+0.33% RM9.14
3) DBT: HUBLINE 33mil @ RM0.06, FOCAL 10.06mil @ RM0.30
(15.5% discount), MYEG 5.8mil @ RM0.785
4) Situational:
PERDANA+3.2% RM1.29: Dayang has raised its interest in
Perdana Petroleum by increasing its stake to 129mil shares or 26% stake.
AIRASIA unch RM2.96 proposal to set up a JV with the Tata
group was approved yesterday by the Indian government's foreign investment
regulator, paving the way for the first foreign carrier to enter the domestic
aviation sector. The new airline, to be based in Chennai and managed by
AirAsia, would involve Tata Sons Ltd taking a 30% stake and Arun Bhatia's
investment firm Telestra Tradeplace Pvt Ltd taking the remaining stake.
AirAsia, the largest budget carrier in Asia, plans to launch a regional airline
in India with an initial investment of US$15 million (RM46.6 million) to cash
in on rising demand for domestic air travel among India's rapidly expanding
middle class.
5) AIRLINES
Malindo Air announced today that they have secured an
USD1.1bn financing line from EXIM Bank US to fund the acquisition of 27 Boeing
737-900 ER aircraft. They plan to offer a hybrid service model comprising 12
business class seats and 168 economy seats in this class of aircraft and an
average load factor of 85-90 this year. +ve for MAHB with KLIA 2 target o begin operations in
June this year but will pose a serious threat to Air Asia's dominance
particularly in the domestic travel sector as Malindo plans to offer all
inclusive fares as low as RM38 to Kuching and RM68 to Kota Kinabalu.
6) Market - KLCI likely to take a breather after
reclaiming the 1650 resistance points awaiting news on the GE before a decisive
move out of this current range.