FBMKLCI
1855.75 +3.44pts (+0.19%)
Volume 2.216b Value 2.379b
1) The KLCI was inline with the stronger US market
overnight with the rebound today led by gains in selected heavyweights, TENAGA
+0.8% & PCHEM +0.8%, IOICORP+ 0.8%. In the regional market, bourses were
also stronger attributed to renewed hopes of the China government's reform
which saw HSI +1.09% gaining on fresh buying interests; SHCOMP also trended
higher today +0.33%. In the local market, TECHNOLOGY +2.14% index gained the
most ground today as the bullish report from the Semiconductor Industry
Association (SIA) boosted names like UNISEM +17.92%, JCY +4.82%, GTRONIC
+0.84%. Market breadth was positive with gainers outpacing gainers by 462 :
335. Futures closed at 1858 (2.5pts premium).
2) Heavyweights : BAT+1.3% RM60.36, BSTEAD+2.2% RM5.61,
TNB+0.8% RM11.90, GAMUDA+0.7% RM4.48, IJM+1.6% RM6.42, IOIC+0.8% RM4.88,
PETGAS+0.6% RM24.00, AIRASIA-3.8% RM2.28, KLK-0.9% RM23.52
3) DBT: YTLPOWR 47.5mil @ RM1.62, BENALEC 45mil @ RM0.77
(5.56% PUC @ 15% discount), DESTINI 31.118mil @ RM0.3581 (4.31% PUC @ RM37.2%
discount), TITIJYA 2mil @ RM1.98
4) Situational:-
HDBS +9.87% RM4.45
- Hwang-DBS Bhd, which has completed the sale of its investment banking
business to Affin Holdings Bhd for RM1.36bn, plans to return RM2.50 a share to
its shareholders as special dividend. The ex-date for the special payout is
April 21, while the entitlement date was set for Apr 23.
5) SAPKencana
Substantail shareholder Seadrill Ltd today offered 180m
shrs of SapuraKencana Petroleum Bhd. at 4.30 ringgit each. Seadrill has option
to increase deal size to 230m shrs depending on deman. Seadrill currently holds
12.03% in SapKen or 720.3m shares. Just two months ago Datuk Mokhzani Mahathir
and the family of the late Chong Hin Loon sold a block of 190.3mn shares in
SAKP to institutions made up largely of government-linked investment companies.
Of the 190.3mn shares, Mokhzani sold 90mn while Chong's family sold the balance
of 100mn. The sale was transacted at a price of RM4.30 per share.
Could once again see short term weakness as experience
when the first block was transacted and the price dipped to around the RM4.00
levels before recovering.
6) Market - Rotational play remains strong with the tech sector
and construction back in vogue. WCT which has been a major laggard should see
renewed interest as they are also bidding for packages in RAPID. We rate it a
but with an upside target of RM2.80
