FBMKLCI
1889.55 -2.78pts (-0.15%)
Volume 1.730b Value 2.177b
1) The KLCI gapped down at the opening after the US
market recorded its biggest decline for the month despite the better consumer
confidence and new home sales number. The regional bourses were generally
weaker following the negative sentiments from the West as HSI -0.06%, SHCOMP
-0.43%, NIKKEI -0.71% and most of the indices were down just before US release
its Quarterly GDP tonight. In the local market, OSV players picked up on
activity on the back of the ICON +3.24% offshore listing today, PERDANA +3.27%,
ALAM 0.00%, UMWOG 0.00%. Market breadth was generally negative today as losers
towered over gainers by 545 : 300. Futures closed at 1889 (parity).
2) Heavyweights : PBBANK -0.59% RM20.02, SKPETRO -1.13%
RM4.36, GENTING -0.69% RM9.99, FGV -1.58% RM4.34, DIGI -0.52% RM5.71, YTL
-1.25% RM1.58, TENAGA +1.16% RM12.20, SIME +0.41% RM9.66.
3) DBT : JTIASA 21mil @ RM2.13 (2.15% PUC @ 17.5%
discount), REDTONE 19.2mil @ RM0.73, BJAUTO 9.2mil @ RM2.27 (1.13% PUC).
4) Situational:-
ICON +3.24% RM1.91
- Icon Offshore Bhd, the largest initial public offer so far this year, made a
strong debut on the Main Market today, opening at RM2.10 above its final retail
offer price of RM1.85 but closed just 6 sen above. It raised RM944.9mil under
its IPO which is the top end of the guidance provided by the company which is
majority owned by Ekuiti Nasional Bhd. Icon Offshore was a merger between
Tanjung Offshore Bhd's offshore support vessel (OSV) unit, which Ekuinas bought
in 2012, and Omni Petromaritime Sdn Bhd in a deal put together by Ekuinas in
2012.
5) MAS
At its AGM today, its CEO revealed that the company is
looking at reviewing its future plane expansion although current order will go
ahead. It was also revealed that the
company was in need of a total revamp as its turnaround plan has reached
critical point. Changes needed will require the full support of the unions,
staff and shareholders of the company. MAS also clarified that it was not in talks
with any other airline to help its planned restructuring. Incidentally Etihad
which was earlier linked to be in talks to take an equity stake has since
denied and today instead announce acquisition of 49% in Alitalia.
6) Market - The KLCI along with global market indices are
set to take a breather after its record setting pace so far this year.
Immediate psychological resistance of 1900pts with 1860pts the support.