FBMKLCI
1735.08 +2.64pts (+0.15%) Volume 1.361b Value 1.455b
1) The KLCI erased earlier losses to close in the green
today despite the weaker U.S market over the weekend. Regional bourses were
also mixed after SHCOMP closed -1.71% lower as valuations for large cap stocks
reached fair levels, however HSI +0.45% closed slightly higher whilst the
NIKKEI closed for a public holiday. In the local scene, O&G stocks rose on
undemanding valuations despite the weaker oil futures, SKPETRO +3.75%, PERDANA
+2.77%, UMWOG +0.79%, DIALOG +1.33%. Other highlights includes the TECHNOLOGY
index which rallied +2.12% today after gains from JCY +6.66%, INARI +2.59%,
UNISEM +1.58%, CENSOF +7.50%. Market breadth was positive as gainers inch
losers by 394 : 317. Futures closed at 1736.5 (1.5pt premium).
2) Heavyweights : AXIATA +1.43% RM7.05, PCHEM +2.37%
RM5.18, SKPETRO +3.75% RM2.49, YTL +2.42% RM1.69, MAXIS +0.72% RM6.95, TENAGA
+0.28% RM14.20, CIMB -2.63% RM5.18, MAYBANK -0.34% RM8.58.
3) DBT: BJFOOD 9.05mil @ RM2.90 (2.43% PUC), SANICHI
6.26mil @ RM0.10, JIANKUN 3.0mil @ RM0.24.
4) Situational:-
KIMLUN -0.80% RM1.24 - KIMLUN announced last week that it
has secured two projects with a collective contract value of RM110.6m. The
first project which is worth RM63.6m was awarded by UMLand consists of main
building works for 89 units of factories in Johor Bahru. This job is scheduled
to complete in Dec 2016. The second project which was awarded by UEM Land is
worth RM47.0m. The job scope includes infrastructure works for Phase 3 of
Southern Industrial and Logistics Cluster in Nusajaya, Johor. This job is
scheduled to complete in Dec 2016
5) MYEG : Co announced that it's 601m Bonus Shares (
basis of 1 bonus share : 1 share held) will be listed and quoted on the Main
Market of Bursa on Tuesday, 13 January 2015; Neutral. Some selling was seen today,
ahead of the new shares coming on tomorrow. We still like the group, who was
recently appointed by the government to compile and maintain database on the
country's foreign workers (both legal and illegal). Successful launch of the
CSTM project and the new developments in the FWPR are potential re-rating
catalysts for the stock.
6) Market : The potential bottoming of crude oil price
based on volatility studies and a likely strengthening of MYR against USD may
provide some support. We remain cautious on the sustainablity of the rebound.
The index is expected to be ranged-bound between 1,700 and 1,750 with likely
focus on defensive utility, telco and export-oriented sectors.
