FBMKLCI
1882.71 +1.78pts (+0.09%)
Volume 1.819b Value 2.303b
1)The KLCI closed in positive territory on the back of
the mid year window dressing inline with the US market that settled at record
levels before the weekend. In the regional market, bourses were generally
positive with the SHCOMP leading with +0.58% just before the release of PMI
data tomorrow that's expected to implicate that the world's 2nd largest economy
is stabilizing, NIKKEI+0.44%, KOSPI +0.69% and HSCEI +0.25% all closed in the
green while HSI -0.19% closed flat. In
broad market however, trades were choppy today as the CONSTRUCTION -0.46% index
recorded the biggest loss today weighed by GKENT -9.04%, SALCON -2.63%, MMC
+0.39%. Market breadth was negative with losers beating gainers by 453 : 370.
Futures closed at 1883.5 (1 pt premium).
2) Heavyweights : MAYBANK +0.30% RM9.83, TENAGA +0.32%
RM12.16, ASTRO +2.03% RM3.51, KLCC +3.81% RM6.53, CIMB +0.27% RM7.32, BAT
-1.26% RM65.54, FGV -1.42% RM4.16, PETDAG -0.98% RM24.04.
3) DBT : DESTINI 37mil @ RM0.72 (4.65% PUC), MAYBANK 35.04mil
@ RM9.8299, STAR 10mil @ RM2.66 (1.35% PUC).
4) Situational:-
IRETEX +0.76% RM0.655 - Ire-Tex Corp Bhd will invest
RM25.0m over two years in subsidiary Zoomic Automation Sdn Bhd to produce
high-brightness light-emitting diode (LED) tubes. The group said that they had
just locked in a RM150.0m contract for the next three years to produce a 1,800
lumens LED tube using only 13 watts of power. The orders are from one local LED
light company in Penang, which will sell the LED tubes to Japan and South-East
Asia. Zoomic will initially produce about 50,000 sets of LED light tubes per
month. According to the group, next year, they will increase the production to
120,000 sets per month and will gradually increase the production line to ten
over the next two years from two currently.
5) HIAPTECK : 9 mths 04/14 Rev RM826.3m Net +193% EPS
4.93s
Core
earnings in line with FY cons RM38.3m
For 9 months yoy, revenue was flat as volume growth
helped offset the effects of lower ASP achieved. With the group's focus in cost
control and production efficiency enhancement, groups gross profit margin
improved from 7.5% previously to 8.9% in the current year. Together with higher
forex gain ( RM7m) and interest income, there was a 120% jump in PBT. Qoq,
revenue +14.5% driven primarily by volume growth. Gross profit margin however declined
to 8% from 11% due to higher ratio of lower margin products in the mix. As a
result, PBT was 5% lower.Ahead, group is cautiously optimistic for the
remaining of the year, as the performance of the domestic steel industry is
linked to the volatility of the international & domestic steel prices,
which in turn is much dependent on the local construction & infrastructure
projects; Hold.
6) Market : We
anticipate a healthy correction/consolidation in the local bourse, following
the new all-time high set last week. The lack of fresh leads & the start of
the fasting month could suggest range bound trading in the short term. Expect
strong support at the 1840 points level.