FBMKLCI
1803.02pts +21.76pts (+1.22%) Volume
2.413b Value 2.692b
1) The KLCI rallied 22pts after the long weekend following the strong rebound in oil prices which recovered 20% from its recent low, the stronger oil price also catapulted the U.S DJIA 300pts into the green as energy stocks gained. In the regional scene, bourses were generally stronger as the NIKKEI +1.98%, HSI +0.51% and ASX +1.23% closed higher in tandem with the global markets. The SHCOMP -0.96% however, closed slightly lower after recent HSBC economic data missed estimates forecasting a slowdown in manufacturing activities. In the local scene, while many oil and gas stocks saw profit taking in the later sessions, selective names remained resilient such as ALAM +7.81%, UZMA +10.82%, SKPETRO +5.61%, PERDANA +3.50%. Other highlights includes a strong rebound in banking bluechips namely, CIMB +2.72%, PBBANK +1.21%, MAYBANK +1.26%. Market breadth was positive as gainers beat losers by 467 : 399. Futures closed at 1804.5 (1.5 pt premium).
2) Heavyweights : CIMB +2.72% RM5.65, PBBANK +1.21% RM18.36,
PCHEM +3.92% RM5.30, SKPETRO +5.61% RM2.82, MAYBANK +1.26% RM8.83, SIME +1.59%
RM9.55, TENAGA +0.96% RM14.64, GENM +2.70% RM4.17.
3) DBT: MATRIX 10mil @ RM2.73 (2.18% PUC), MEDAINC 10mil @ RM0.45 (2.03% PUC @ 22% discount), NIHSIN 5.3mil @ RM0.46 (2.24% PUC), TITIJYA 1.5mil @ RM1.92
4) Situational:-
AAX -3.81% RM0.63 - AirAsia X has
proposed a renounceable rights issue together with free warrants to raise gross
proceeds of up to RM395.0m. The low-cost long-haul carrier said it proposed to
increase the authorised share capital from RM500.0m comprising of 3.3b shares
to RM1.0b comprising of 6.7b shares. AirAsia X said of the proceeds, it would
use RM270.0m as general working capital of the company and its subsidiaries. It
added than RM119.0m would be used to repay borrowings and the remaining RM6.0m
as estimated expenses for the proposed exercise.
5) WZ Satu
Its wholly owned subsidiary company,WZS KenKeong Sdn. Bhd received
a letter of award from UEM Construction Sdn. Bhd. for a total
contract value of RM124.118m in relation to the construction of elevated
bridge structure over existing Bayan Lepas Expressway at Batu Maung, Penang .
The Project is expected to be completed by 30 November
2015.
WZ had previously also been linked with the acquisition of a
downstream O&G player.
6) Market – Weak RM and economy to continue to deter foreign funds
away from the KLSE however intermittent news flow could see selective interest
in beaten down names especially in the O&G sector.
