FBMKLCI
1791.37 +6.61pts (+0.37%)
Volume 1.620b Value 1.884b
1) The KLCI saw an improvement in the cash market today
as investor sentiment picked up on hopes of the US debt default will be averted
within the next 24 hours. In the regional market, bourses were mixed as the ASX
+0.07%, NIKKEI +0.18% & STI 0.28% traded in positive territory throughout
the day while HSI -0.46%, SHCOMP -1.81% fell after JP Morgan cut China ratings
to underweight, citing an economic slowdown and more political debate struggle
in November. In the local market, Plantation stocks outperformed as plantation
index +0.70% rose behind higher CPO prices led by FGV +3.52%, GENP +2.85%, KLK
+0.43%, TSH +2.85%. Market breadth was positive with gainers edging pass losers
by 395 : 374. Futures closed 1798.5pts (7pts premium).
2) Heavyweights : PBBANK+1.20% RM18.46, FGV +3.52%
RM4.40, PCHEM+1.27% RM7.13, MAXIS+1.13% RM7.13, DIGI+1.02% RM4.91, RHBCAP+3.30%
RM7.82, PETGAS+0.22% RM22.70, MAYBANK-0.60% RM9.94.
3) DBT : BJLAND
121.155mil @ RM0.92 (2.423% PUC @ 4.54% premium), GENM 71.856mil @ RM4.30 (1.21% PUC), XOX
20.10mil @ RM0.1151 (6.656% PUC @ 18% discount).
4) Situational:-
ENCORP +6.25% RM1.19 - Encorp Construct Sdn Bhd, has been
awarded a RM63.10mil contract. The contract is for the construction and
completion of substructure and structure works for Kompleks Pentadbiran Majlis
Bandaraya Kuala Terengganu together with other amenities at Southern
Breakwater,Terengganu.
GPACKET -9.00% RM0.46 - Green Packet shares have come
under pressure following the sale of seven million shares by OSK Technology
Ventures Sdn Bhd. OSK is owned by Tan Sri Ong Leong Huat. Despite the sale, OSK
still owns some 16.61% of Green Packet.
5) T Chong
Disclosed in the Notes to the audited Financial
Statements for year ended 31 December 2012 of Tan Chong Motor Holdings
Berhadand in its two unaudited quarterly financial statements of 2013 that the
General Department of Vietnam Customs was of the opinion that a subsidiary,
i.e., Nissan Vietnam Co., Ltd., which is 74% owned by the TCMH Group, was not
entitled to preferential import tax rate for the importation of CKD parts and
kits.
NVL in receipt of decisions from the Customs Chief of Ha
Noi Processing and Investment Customs Branch dated 23 September 2013 and 8
October 2013 that an amount totalling VND 357,028,537,085 equivalent to
approximately USD 16.98 million, being the additional import duties payable by
NVL in respect of the importation of CKD parts and kits for the period from
2010 to 2012.
NVL has submitted its appeal against the decisions.
6) Market - Despite the on going debate on the US debt
ceiling, markets on the whole have generally relegated it to a side show as
currencies and equity markets have generally been relatively stable. More
importantly for the KLSE will be next week's Budget where more disciplined
measures could be introduced to raise the Govt's revenue and curb rising
household debt.
