FBMKLCI
1786.84 -9.54pts (-0.53%)
Volume 2.044b Value 2.165b
1) The KLCI closed at its day low after heavy selling in
the 2h weighed the index closer to its 1780 support, the selling was triggered
by the weak opening of the Europe market late in the afternoon. In the regional
market, bourses were generally stronger after the HSI +0.40% broke a 3 day
losing streak boosted by transportation & airlines names on the weak oil
prices, SHCOMP+0.60%, NIKKEI +0.92% rose despite the weaker inflation data on
hopes that the government will intervene. In the local scene, O&G related
stocks continue to slide after a local bank downgrade ratings to neutral from
overweight ALAM-7.2%, SKPETRO-5.27%, ARMADA -7.84% were the amongst the biggest
loser of the sector. Market breadth was negative as losers outpaced gainers by
659 :209. Futures closed at 1780 (6.5pts discount)
2) Heavyweights : SKPETRO -5.27% RM3.41, MAYBANK -1.03%
RM9.58, FGV -7.05% RM3.03, BAT -3.10% RM65.50, GENM -2.20% RM4.00, CIMB -0.76%
RM6.48, MISC-2.35% RM6.63, DIGI +1.39% RM5.83
3) DBT : TOMYPAK 27.887mil @ RM1.17 (24.475% PUC @ 5.7%
discount), YINSON 3.2mil @ RM2.46 (0.31% PUC), FABER 2.0mil @ RM3.01.
4) Situational:-
MELATI +2.40% RM1.28 - Melati Ehsan Holdings Bhd's
wholly-owned unit, Pembinaan Kery Sdn Bhd, has accepted a letter of award (LOA)
from Jabatan Kerja Raya Malaysia (JKR) worth RM59.5m. Melati Ehsan said the LOA
was for the additional work scope of road construction project in East Coast of
Peninsular Malaysia. The contract is for a period of 24 months and the expected
date of completion is Oct 7, 2016.
5) MAS
MAS will hold an extraordinary general meeting on Nov 6
for minority shareholders to exercise their voting rights on the company's
issued and paid-up capital reduction.
The company is proposing a reduction to RM1.16 billion
comprising 11.59 billion ordinary shares from RM1.67 billion comprising 16.71
billion ordinary shares. The airline's share premium account will be reduced to
RM865.59 million from RM1.74 billion.
It will then undertake a selective capital reduction and
repayment (SCR) offer price of 27 sen
6) Market - Global jitters will continue to weigh down
the KLSE with particular attention on the O&G segment with oil prices
flirting with the key support levels of USD80. Expect investors to remain
largely side line and selling into any technical in the short term.