FBMKLCI
1740.76pts +12.12pts (+0.70%)
Volume 1.439b Value RM2.422b
1) The KLCI reversed a 5 consecutive day loss inline with
the regional markets after sentiments in the US improved behind stronger
durable goods and home prices. SHCOMP -0.41% saw choppy trades thruout the day
as concern remains over elevated interbank rates. In the local market, gains
picked up in the 2nd half with persistent buying interest in key heavyweights
led by GENTING +4.36%, MISC +4.07%. PROPERTIES rebounded 1.45% with gains in
oversold stocks UEMS +1.71%, TAGB +10.34%, E&O +6.56%, NAIM +8.19%. Market
breadth was positive with gainers beating losers by 577:195. Futures closed
1737.5pts (2.5pts discount)
2) Heavyweights : GENTING +4.36% RM10.30, IOICORP +2.10%
RM5.34, MAYBANK +0.8% RM10.08, MISC +4.07% RM5.12, AMBANK +1.44% RM7.08, PCHEM
+0.92% RM6.60, IHH -0.26% RM3.88, TM -0.18% RM5.43
3) DBT : ITRONIC 5.242mil @ RM0.48 (5.502% PUC @ 22%
discount), ETITECH 5mil @ RM0.0973 (21% premium), APB 4.415mil @ RM0.88 (3.91%
PUC).
4) Situational:-
AIRASIA +0.99% RM3.06 - Japan's All Nippon Airways and
AirAsia have agreed to terminate their budget carrier joint venture as business
slumped amid management clashes. AirAsia
said AirAsia Japan would cut service by the end of October, just over a year
after it started flying out of Tokyo's Narita airport in August. AirAsia said
in a statement that the JV faced fundamental difference of opinion between its
shareholders on how the business should be managed from cost management to
where the domestic business operations should be based.
5) UOA DEV
UOA's wholly-owned subsidiary, Tiarawoods Sdn. Bhd.
entered into a sale and purchase agreement ("SPA") with Ng Kim Khin @
Ng Beh Leow for the purchase by Tiarawoods from NKK, of six (6) parcels of
freehold land held all in Mukim Batu, Daerah and Negeri Wilayah Persekutuan
Kuala Lumpur (collectively "Jalan Ipoh Land"), for a total
consideration sum of Ringgit Malaysia One Hundred and Thirty Million Three
Hundred and Thirty Thousand Two Hundred and Ninety One and Sen Twenty.
Land measures in
total approximately 483,322.71 square feet and is strategically located at
Jalan Ipoh, less than 10 kilometres from Kuala Lumpur City Centre. The location
is surrounded by densely populated residential areas such as Taman Kok Lian,
Taman Impian, Taman Sri Kuching and Taman Rainbow. The Proposed Acquisition
will be an addition to UOA's existing land of approximately 16.8 acres, owned
by the Purchaser. On completion of this Proposed Acquisition, the Purchaser
will collectively own approximately 28 acres of prime development land in this
location. The development will be highly accessible via major highways such as
Duta-Ulu Klang Expressway (DUKE) and Jalan Kuching.
UOA is proposing to develop the Jalan Ipoh Land, combined
with the existing land, into an integrated mixed development and is expected to
commence in the year 2014. +ve HOLD
6) Market - Expect current technical bounce to continue
led by the US with a resistance around the 1760pts levels.