FBMKLCI
1723.80 +2.83pts (+0.16%)
Volume 1.098b Value 1.449b
1) The KLCI traded sideways in the positive region thruout the day to
close 2.8pts above parity. This is inline with the US market that closed higher
behind better jobs data and anticipation of a better unemployment number
tonight. In the region, bourse were
mixed with NIKKEI -1.45% falling after the yen strengthen against the dollar;
while SHCOMP +0.83% and HSI +0.10% gained behind optimism from the West. In the
local market, Plantation index rose +0.42% ahead of the rising CPO prices
recently, stocks that boosted the index were IOICORP +0.94%, KLK +0.28%, UTDPLT
+1.14%. Market breadth was skewed slightly towards the positive as gainers edge
pass losers by 352 : 339. Futures closed 1711.5 pts (12pts discount).
2) Heavyweights : MAYBANK +1.21% RM10.00, PBBANK +0.46%
RM17.40, GENTING +0.96% RM9.39, CIMB +0.55% RM7.19, IOICORP +0.94% RM5.35, IHH
+1.47% RM4.12, PCHEM -0.15% RM6.50, SKPETRO -1.68% RM3.51
3) DBT : SCICOM 25mil @ RM0.49 (8.44% PUC), AMBANK
13.5mil @ RM7.46, SCOPE 6mil @ RM0.30 (1.199% PUC @ 27.6% premium).
4) Situational:-
FABER +1.25% RM2.43 - Faber Group Bhd's board has
accepted UEM Group's sale of the latter's entire stake in Opus Group Bhd and
100% of Projek Penyelenggaraan Lebuhraya Bhd (Propel) in a RM1.15bil deal.
5) MMC
Has decided to allow the approval of the SC for the
Proposed Listing of Malakoff which is valid until 6 September 2013 to
lapse. Accordingly, Malakoff intends to
submit a new application in relation to the Proposed Listing to the relevant
authorities after taking into consideration several developments since the
deferment of the implementation of the Proposals in May 2013. Such developments
include, amongst others, the acquisition of Meridian Wind Macarthur Holdings
Pty. Ltd. which has an indirect 50% participating interest in the
unincorporated joint venture of the Macarthur Wind Farm, Australia, the largest
wind farm in the Southern Hemisphere, with a generation capacity of 420 MW and
the positive progress of the ongoing maintenance works at the Tanjung Bin power
plant which are expected to be substantially completed by the second (2nd) half
of 2013.
This move has been largely expected and the tentative
dates are targeted towards 1H 2014. With no short term catalyst and high
gearing now to persist, the company will struggle in an environment where rates
are expected to rise. Trim.
6) Market - With the country's credit worthiness now
continually scrutinised, the current trend of weakening ringgit and rising bond
yield (10 yr up to 3.92%) will persist with global investors finding better
alternatives else where. All eyes will crucially be set on the 2014 Budget
scheduled in Oct to address these issues hence market to trade sideways at best
in the short/medium term.