FBMKLCI
1707.54 +5.71pts (+0.34%) Volume 1.817b Value RM1.827b
1) The KLCI rebounded today inline with the regional
market despite the weaker US market overnight which fell on an unexpected
trading halt in the NYSE and worrying China correction. Regional bourses however, erased earlier losses to close
higher as SHCOMP +5.76% led in gains after China banned major shareholders from
selling stake for the next 6 months to control the flow of the capital in the
country, HSI +3.73% tailed China, HSCEI +3.05%, NIKKEI +0.60%, ASX +0.03%.
Broad market rebounded with TECHNOLOGY
+2.22% names leading in gains boosted by INARI +3.93%, GTRONIC +6.06%,
GHLSYS +3.77%. Market breath was positive with gainers beating losers 557 :
287. Futures closed at 1700.5 (7pts discount).
2) Heavyweights : GENTING +2.66% RM8.09, DIGI +1.65%
RM5.54, MAXIS +1.89% RM6.45, IOICORP +1.95% RM4.18, AMBANK +2.24% RM5.47, CIMB
+0.75% RM5.34, MAYBANK +0.43% RM9.16, PBBANK -0.96% RM18.50.
3) DBT: AIM 4.838mil @ RM0.18 (1.81% PUC), KPOWER 2.7mil
@ RM0.50 (4.78% PUC), AEM 1.111mil @
RM0.125.
4) Situational:-
SEDANIA +6.30%
RM0.59 - Share price gained after Sedania Innovator Bhd teamed up with Tune
Talk Sdn Bhd to enable airtime sharing (ATS) transactions for TuneTalk's
prepaid mobile subscribers. TuneTalk is Sedania Innovator's fourth telco
partner, apart from Celcom Axiata Bhd, Maxis Bhd and Robi Axiata Limited in
Bangladesh. Sedania Innovator partners telcos to enable their mobile
subscribers transfer airtime credits to each other via its proprietary ATS
platform. TuneTalk has an estimated 1.25 million mobile subscibers, which will
boost Sedania Innovator's addressable captive market now to over 52 million
mobile subscribers.
5) BNM
At the Monetary Policy Committee (MPC) meeting today,
Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at
3.25 percent. Overall growth continues to be underpinned by domestic demand.
Headline inflation averaged at 2% in April and May. Going forward, headline
inflation is expected to be higher following the impact of the GST and the
recent adjustments to domestic fuel prices, before moderating towards the
second half of 2016. At the current
level of the OPR, the stance of monetary policy remains accommodative and
supportive of economic activity. The MPC recognises that there are heightened
risks to global growth and financial conditions .
6) Market: With
the rebound today the KLCI looks to have set a short term bottom but further
upside is likely to be dictated by direction of the China markets and Greece
developments.