FBMKLCI
1775.92 +6.80pts (+0.38%)
Volume 1.860b Value 1.566b
1) The KLCI bounced today closing at 6.8pts above parity
led by the US market amid optimism that soon-to-be new Fed's Chairman Janet
Yellen won't rush to withdraw stimulus and signs of lawmakers giving in to the
rise of the debt ceiling began to show. In the regional markets, bourses were
mixed as SHCOMP-0.94% and HSI-0.36% slipping weighed down by the financial
sector while NIKKEI+1.12%, STI+0.47% and the FTSE traded in the positive
region. The local market saw risk on trades today after penny stocks picked up
in volume led by TMS-5.00%, MAS+1.49, HUBLINE+10.00% among the most active,
while the TECHNOLOGY +1.89% sector outperformed boosted by MPI+7.51%,
CUSCAPI+16.25%, JCY +0.80%; Shipping stocks were actively traded as HUBLINE
+10.00%, SEALINK +16.17%, SYSCORP +4.81% gained. Market breadth was positive
with gainers beating losers by 501:264. Futures closed 1783.5 (7.5pts premium)
2) Heavyweights : HLBANK+3.32% RM14.28, PBBANK+0.44%
RM18.08, MAYBANK+0.50% RM9.90, PCHEM+1.01% RM6.96, SKPETRO+1.32% RM3.82,
GENM+1.41% RM4.29, AMBANK+1.22% RM7.45, GENTING-1.53% RM10.24
3) DBT : DESTINI 9.661mil @ RM0.30 (1.958% PUC @ 10%
discount), BRIGHT 4.377mil @ RM1.00 (10.112% PUC @ 1.4% discount), IJM 3.68mil
@ RM5.77
4) Situational:-
KPS +3.44% RM2.09 / TALIWRK +2.08% RM0.98 - KPS is
disposing its 16.9% stake or 73.8m shares in Taliworks at a loss as the former
expects the investment to only yield minimal dividends, as well as face high
financing and amortization costs. The share divestment would result in a loss
on disposal of about RM43.8m at group level. This is after deducting its
investment cost of RM46.2m and post-acquisition profits of Taliworks at RM92.3m
as well as adding some RM28.3m worth of dividends received from the group
5) IRIS
The company announced today that it has received a Letter
of Acceptance of Tender from the Federal Land Development Authority (FELDA) to
build and develop an integrated community centre under ICB's Sentuhan Kaseh
modern rural project in Felda Palong 21, Wilayah Raja Alias, Negeri Sembilan.
The total contract value of the SK Palong Project under
this LOA is for a sum of RM40m.
+ve as the equity tie up is now beginning to see business
opportunities flow down from FELDA.
6) Market - Improving outlook on a agreement to resolve
the US debt ceiling should see the market continue to claw back up towards the
1780-1800pts range. Stocks at attractive trading levels incl Penergy, Sime,
NCB, TimeCom,