FBMKLCI
1847.50 -3.40pts (-0.18%)
Volume 1.085b Value 1.632b
1) The KLCI fell today inline with the jittery US market
that closed lower overnight just before the verdict of the QE tapering overhang
tonight. In the regional market, NIKKEI +2.02% continue to thrive boosted by
the stronger USD against the YEN, HSI +0.32% rose albeit on cautious trading;
SHCOMP -0.13% fell for a 7th straight day as money market rate jumped. In the
local scene, profit taking blanketed the market after the CI rose to new high
yesterday. Plantation INDEX lost the most grounds today weighed down by IOICORP
-1.03%, GENP -4.04%, KLK -1.20%, KULIM -3.66% as CPO prices fell closer to the
RM2,500 pmt support. Market breadth was negative with losers beating gainers by
433 : 326. Futures closed at 1843 ( 4.5pts discount).
2) Heavyweights: CIMB -1.03% RM7.64, AXIATA -1.01%
RM6.80, PCHEM -1.31% RM6.74, TENAGA +0.73% RM10.94, BAT -2.44% RM63.00,
PETGAS +3.19% RM23.94, PBBANK +0.75%
RM18.72, MAYBANK +0.79% RM10.10
3) DBT: ARMADA 90mil @ RM3.78 (3.07% PUC @ 5.5%
discount), FARLIM 6.147mil @ RM0.435 (4.38% PUC @ 16.4% discount), THPLANT
4.61mil @ RM1.923
4) Situational:-
MISC -0.36% RM5.40 -MISC has entered into an agreement
with Global Process Systems Inc (GPS) for the acquisition of a 20% stake in
Malaysia Offshore Mobile Production (Labuan) Ltd (MOMPL) for US$18m. MISC
currently owns 80% of MOMPL. GPS' principal activities are provision of
engineering, procurement and construction services for the oil and gas
industries, while MOMPL owns and leases mobile offshore production units.
5) TM : announced that it has today made its first
issuance of IMTN of RM200 million in nominal value with tenure of 7 years
pursuant to the IMTN Programme in accordance with the Sukuk Wakalah Programmes.
The proceeds raised will be utilised by TM to meet its capital expenditure and
business operating requirements, including for its high speed broadband
services which shall be Shariah-compliant; Neutral on news. TM's 9M13 results
were a positive surprise due to better-than-expected EBIT margins. But FY14
earnings growth is lacking due to the expiry of tax incentives as well as
minimal room to gear up further for capital management initiatives, we think
the stock lacks immediate catalysts,- Hold.
6) Market : The Federal Reserve decision and/or the
forward guidance during their press conference on continued monetary stimulus
will likely determine trading tomorrow.