Market Roundup | 21 January 2015

FBMKLCI
 1770.09pts    +19.98pts (+1.14%)      Volume
2.161b   Value 2.446b

1)  The KLCI rallied +1.1% today after several stocks namely, PPB, SIME, GENM, GENTING, PCHEM saw some closing activity at auction time. This was also after U.S market  closed stronger overnight as tech names rallied. In the regional market, bourses were generally stronger as the SHCOMP gained +4.74% led by financial companies after huge hit down on Monday, HSI +1.68%, ASX +1.61% also gained inline with optimism as investors anticipate the European policymakers to unleash a round of stimulus tomorrow. In the local scene, Penny stocks were heavily traded as sentiments in the market continue to improve with KNM +5.94%, IRIS +8.19%, SUMATEC +4.65%. Market breadth was positive as gainers lead loser by 557 : 287. Futures closed at 1771 (1 pt premium).

 

 2) Heavyweights : PPB +8.57% RM15.20, SIME +2.26% RM9.48, GENM +4.98% RM4.00, GENTING +2.89% RM8.54, PCHEM +3.44% RM5.11, MISC+ 2.90% RM7.80, CIMB +1.03% RM5.87, TENAGA +0.69% RM14.50

3) DBT:  DUTALND 16.863mil @ RM0.51 (1.99% PUC), SKPRES 10mil @ RM0.82 (1.11% PUC), TROP 9.5mil @ RM1.05, SOLID 1mil @ RM1.60.

 

4) Situational:-

IRIS +8.19% RM0.33 - Iris Corporation Bhd plans to invest RM130.0m in a property joint venture with Technology Park Malaysia Corp Sdn Bhd in Bukit Jalil. Iris Corp said it had signed a teaming agreement with Technology Park to combine their resources to develop, build and manage a proposed residential development project on a parcel of land in Phase 3 TPM Bukit Jalil. TPM is the beneficial owner of the land and it will provide 28.9 acres for the project. TPM shall sub-lease the land to the special purpose vehicle at a nominal consideration for the purpose of the project.

 

5) ECOPILE

The company received a LOA from Damai City S/B to undertake bored piling. Earthworks, foundation and substructure works of a mixed development project comprising a hotel, serviced and branded residences and a retail podium at S63 Jalan Conlay, KL. The duration of the contract is approximately 23 months with a value of RM128.9m.

+ve as this adds significantly to its current order book of RM500m and also improve margins. BOW

 

6) Market – CI recent run up likely to hit resistance around the 1780pts levels, we advise clients to trim names that have experienced a sharp bounce as medium term outlook remain uncertain and the market range bound at best.