FBMKLCI
1855.63 +3.63pts (+0.20%)
Volume 2.124b Value 2.808b
1) The KLCI closed at its day high today inline with the
stronger US market overnight which saw both the S&P and DJIA extending yet
another record high as payrolls last months fuelled optimism on growth in the
US economy. In the regional market, bourses were also stronger as NIKKEI +0.84%
gained and HSI +0.18% rose today after the Chinese government outlined a mini
stimulus that includes more tax breaks to support growth in China; SHCOMP
-0.74% however was dragged lower by banks and property developers,
overshadowing the government's latest efforts. In the local market, Finance
index +0.67% outperformed the market as banking heavyweights, namely PBBANK
+1.56%, PBBANK-01 +2.35%, CIMB +0.55%, AMBANK +0.41%, MAYBANK +0.10% all
recorded gains. Market breadth was positive with gainers inching past losers by
420 : 415. Futures closed at 1852 (3.5 pts discount).
2) Heavyweights: PBBANK +2.66% RM20.00, PETGAS +1.88%
RM24.88, SKPETRO +1.92% RM4.77, CIMB +0.55% RM7.25, IOICORP +1.05% RM4.80, PCHEM
+0.87% RM6.89, TENAGA -3.74% RM11.30, UMW -1.78% RM11.00.
3) DBT: RPB 5mil @ RM0.44, SAMUDRA 5mil @ RM0.39, PDZ
4mil @ RM0.13.
4) Situational:-
PERISAI +4.51% RM1.62 - Perisai Petroleum has fixed the
price of its 108.42 million placement new shares (10% of PUC) in its proposed
private placement at RM1.53 each, which would entail the exercise raising some
RM165.88mil. The issue price of RM1.53 represented a discount of approximately
2.49% over the five-day volume weighted average market of RM1.57 per Perisai
share. The proceeds of the exercise would be used for partial repayment of bank
borrowings and downpayment for a 3rd rig which will be delivered in June 2016.
5) Boustead - announce that the Shariah Advisory Council
of the SC, vide its letter dated 3 April 2014, has classified its wholly-owned
subsidiary, Boustead Plantation Berhad (BPB) Shares as Shariah-compliant
securities based on the audited financial statements of BPB for the financial
year ended 31 December 2012. This classification remains valid until the next
Shariah compliance review to be undertaken by the Shariah Advisory Council of
the SC for the next financial year.
- +ve as this will provide better valuations to BPB’s IPO
and its subsequent pricing when traded in Bursa as the Syariah-compliant funds
are permitted to invest in the company.
6) Market: trading and volatility are expected to narrow
as the market heads towards the weekend, especially with the closely-watched US
jobs number to be released after Asian markets close.