FBMKLCI 1771.40
-3.54pts (-0.20%) Volume
1.436b Value 1.482b
1) The KLCI slid on Wednesday even after the US market
closed stronger overnight. The local market was inline with the cautious Asian
market as investors remain guarded ahead of the long awaited outcome of the
FOMC meeting tonight. SHCOMP+0.29% saw flattish gains albeit with thin volume
just before the start of the holidays while the HSI -0.27% closed lower. Nikkei
+1.35% on the other hand closed higher after economists were optimistic that
the QE tapering affects will only be limited upon the US. In the local market,
blue chips were weighed down after GENTING and GENM lead in declines behind
worries of a possible hike in casino taxes. Market breadth was positive with
gainers leading losers by 405 : 312. Futures closed 1767.5 (4 pts discount)
2) Heavyweights : GENTING-3.64% RM9.77, GENM -4.58%
RM4.16, MISC -2.33% RM5.03, MAXIS -0.56% RM6.99, PBBANK +0.33% RM17.76, SKPETRO
+1.10% RM3.67, PETGAS +0.75% RM21.34, DIGI +0.61% RM4.90
3) DBT : KNM 36mil @ RM0.41 (2.41% PUC), SERSOL 10.650mil
@ RM1.02 (5.527% PUC @ 17% premium), HYTEXIN 9.111mil @ RM0.08 (6.074% PUC @
72% discount).
4) Situational:-
KPS +7.65% RM2.39:
group announced a special dividend of 26.67 sen per share in respect of
the current fy ending 31 december 2013.
The entitlement date will be till the 4/10/2013 and will ex on the
2/10/2013. Share price rose 17sens prior to the news in the 2nd half of the
session.
5) PUNCAK NIAGA: Announce that its wholly owned
sub-subsidiary, GOM Resources Sdn Bhd had, had on 6 September 2013, received
the Letter of Award from Petronas
Carigali Sdn Bhd ("PCSB") for the Provision For Transportation
And Installation of SKO Riser Guards under the contract of the Integrated
Transportation and Installation of Offshore Facilities for Year 2010 - 2012
(Extension 2013). The duration of the Contract is from 12 September 2013 to 31
October 2013; +ve, although no contract value revealed. The Contract is
expected to contribute positively to the earnings and net assets of Puncak
Group for the current financial year ending 31 December 2013. We remain
Positive on Puncak's O&G division as we believe the industry outlook
remains vibrant given Petronas's capex spending plan of RM300b. However, The
key re-rating catalyst still remains the positive progress in moves to
consolidate Selangor's water industry amid ongoing negotiations between the
Federal and Selangor State governments.
6) MARKET : maintain sideways trade unless FOMC throws a
surprise with an unexpected decision on their monetary policy.