FBMKLCI
1876.61 +12.92pts (+0.69%)
Volume 1.267b Value 1.825b
1) The KLCI rallied off the 1860 support neckline as we
saw fresh buying of selected bluechip stocks which boosted the index by 12pts.
In the regional market, bourses were also strong, led by the SHCOMP after
Chinese central bank release details of measures to boost lending to SMES, HSI
also rallied putting up +0.86%, NIKKEI however fell today as stronger yen
erased gains amidst exporters. In the local market, the CI saw basket buying of
selected stocks namely, ASTRO +4.94%, DIGI +3.46%, PPB +3.73% which contributed
to the strong rally in the 2nd session. Market breadth was negative with
gainers beating losers by 423 : 316. Futures closed at 1878.5 (1pt premium).
2) Heavyweights : DIGI +3.46% RM5.68, PETGAS +2.06%
RM24.70, PPB +3.73% RM15.56, GENTING +1.39% RM10.20, KLK +2.16% RM24.56, ASTRO
+4.94% RM3.61, IOICORP +1.16% RM5.20, YTL +2.45% RM1.67.
3) DBT : XINGHE
20mil @ RM0.30, BJAUTO 10mil @ RM2.20 (1.23% PUC), MAGNUM 4mil @ RM3.02.
4) Situational:-
SKPETRO +1.25% RM4.04 - SapuraKencana Petroleum Bhd's
unit SapuraKencana Energy Sarawak (SKE) has made four significant
non-associated natural gas discoveries in the SK408 production sharing contract
(PSC) area, offshore Sarawak.
5) PTARAS : announced that the it's wholly-owned
subsidiary, Pintaras Geotechnics Sdn. Bhd. had on 10th June 2014, received a
Letter of Award dated 9th June 2014 from Quantum Quest Sdn. Bhd. to undertake
earthworks and piling works for a proposed building project at Section 87A, Jalan
Tun Razak, Kuala Lumpur. The said work is to commence on 23rd June 2014 with a
completion period of 15 months. The contract is valued at about RM32 million;
+ve, said contract is expected to contribute positively to Group's future
earnings. We still like the group as the industry outlook is still promising.
The prospects for the piling sub-sector remain strong, backed by upcoming major
projects - the MYR73bn Klang Valley MRT
project, a proliferation of high-rise developments on rising land scarcity in
prime locations and the chronic shortage of piling capacity in the market,
which will boost piling rates.
6) Barring external factors, range bound trading expected
to continue into the week on moderate volume, support at 1860 points.