FBMKLCI
1694.77 -18.69pts
(-1.09%) Volume 933.244mil Value RM2,316mil
1) The KLCI tumbled for a 2nd consecutive days with index
falling as much as -28pts to 1685 before recovering to close at 1694.5 as
investors unwind positions ahead of the widely anticipated 13th GE polling day
this Sunday. The regional indices outperformed with SHCOMP+1.4% and HSI riding
on better US job data and ECB cutting interest rates. Market breadth throughout
the day was negative with decliners doubling gainers 544 : 236. Futures closed
1680.5 (14 pts discount).
2) Heavyweights: GENTING -4.8% RM9.99, AXIATA -2.07%
RM6.60, CIMB -1.30% RM7.61, PETGAS -2.20% RM19.56, KLK -3% RM20.94, UMW -2.8%
RM13.90, PBBANK -0.49% RM16.34, UEMLAND +3.1% RM2.64
3) DBT: CSL 60mil @ RM0.45 (4.8% PUC , 73% premium),
HAPSENG 20mil @ RM1.73 (0.915% PUC), YTL 2.3mil @ RM1.63
4) Situationals:
DAYA unch RM0.20:
Daya Material Bhd's subsidiary and its joint-venture partner have
secured a RM198m contract for the ventilation system for six new vessels of the
Malaysian navy. The contract includes design, supply, installation, testing and
commissioning of the heating, ventilation and air-conditioning system for the
six vessels under the navy's littoral combat ship programme.
5) MMC
MMC announced today that
Shariah Advisory Council of the Securities Commission Malaysia had, vide
its letter dated 2 May 2013, reaffirmed its classification of all the MCB
(Malakoff Corp Bhd) Shares as Shariah-compliant securities based on the latest
audited financial statements of MCB for the financial year ended 31 December
2012. The Shariah-Compliant Status will remain valid until the next Shariah
compliance review by the SAC based on the information for the next financial
year of MCB.
The 760.9m share IPO listing for Malakoff is targeted for
the 1H 2013, which would reduce MMC's holding to associate level and deleverage
its balance sheet significantly. +ve
6) Market - Todays 1% drop in the KLCI could be a prelude
to Monday's open if GE13 on Sunday delivers unexpected results. Track this
event closely over the weekend for short term direction.