FBMKLCI
1667.61 -4.02pts
(-0.24%) Volume 594.2mil
Value RM1,174mil
1) KLCI dipped to a low of 1659.20 (-12.43pts) in a
thinly traded morning session as key heavyweights led by CIMB and MAYBANK saw
selling pressure. Regional markets were also lower after China March PMI came
in at 50.9 below concensus estimates and government also took steps to cool
property prices in China. O&G stocks outperform led by DAYANG+4%,
PERDANA+2.3% and DELEUM+2.3%. Market breadth was positive with gainers edging
losers 327:316. Futures closed 1664.5 pts (3pts discount).
2) Heavyweights: GENTING-1.19% RM9.90, CIMB-0.65% RM7.58,
MAYBANK-0.54% RM9.30, BAT-2.35% RM60.70, PCHEM-1.09% RM6.34, DIGI+0.44% RM4.58,
PETGAS-1.05% RM18.80, GENM+1.66% RM3.68
3) DBT: HUBLINE 18mil @ RM0.06, BOILERM 3.4mil @ RM1.00
(1.3% PUC), APFT 3mil @ RM0.51 (1.91% PUC, 9.7% premium).
4) Situationals:
TOPGLOV+4.44% RM5.64, SUPERMX+5.5% RM1.92: Prices are on
the weak side because China and Japan still have plenty of rubber in their
warehouses. Rubber inventories in warehouses monitored by the Shanghai Futures
Exchange rose 1.5 percent to 117,696 tonnes last week , their highest in three
years as China.
5) PETDAG
The company today ann 26 April as its ex date for the proposed
special div of RM0.35. This is in line with company's guidance to utilise their
s108 tax credits. Yield based on this payout practice ensures an attractive
yield of 4.6% based on its closing px today of RM22.82. Upside potential
remains in the retail and lubricant segments where they still trail market
leader Shell. Hold
6) Market - Consolidation around these levels with
1650pts the initial support as April 27 looms close as the last day of the
current administration before GE 13.