FBMKLCI
1574.67 -2.74pts (-0.17%) Volume 1.788b Value RM 2.126b
1) The KLCI swung between a 26pts band before closing
2pts below overnight inline with the weaker US market amid concerns over
slowing global growth headed by China. Regional markets were mostly negative as
SHCOMP -4.27% led in losses after a lower reading of Chinese manufacturing,
followed by NIKKEI -2.98%, HSCEI -2.00%, HSI -1.53%, ASX -1.40%, STI -1.09
which all slumped more than 1%. Broad market faced further profit taking as the
TECHNOLOGY index fell -1.73% dragged by UNISEM -5.29%, INARI -3.19%, JCY -3.00%
following the weaker Semicon index overnight. Market breadth was negative with
losers beating gainers by 470 : 330. Futures closed at 1564pts (10pts
discount).
2) Heavyweights :
PBBANK -1.00% RM17.70, PCHEM -2.10% RM5.58, GENTING -1.95% RM7.04, CIMB -1.00%
RM4.95, AMBANK -2.70% RM4.67, TENAGA +0.76% RM10.48, YTL +3.37% RM1.53, IHH
+1.61% RM5.67.
3) DBT: RCECAP 55.505mil @ RM0.385 (4.161% PUC), BSTEAD
10mil @ RM4.66 (5.9% premium), PESONA 6.007mil @ RM0.4989
4) Situational:-
BOILERM -4.27% RM1.12 - Biomass boiler manufacturer
Boilermech Holdings Bhd, which is in the midst of setting up a new plant in
Klang, said it is currently considering to consolidate its current operations
in Subang Jaya, as part of its effort to optimise its operations and efficiencies.
Boliermech, which is serving mainly the palm oil milling industry, has two
manufacturing plants in Subang Jaya.
5) MISC
Announced that
MISC and MTTI had entered into an Agreement for Sale and
Purchase of 50% of the Issued Share
Capital of VTTI with Vitol Investment Partnership Limited, for the disposal of
50% of the issued share capital of VTTI for a cash consideration of USD830.0
million.Upon completion of the Proposed Disposal, VTTI will cease to be a
joint-venture company of MTTI.
MTTI's investment in the entire issued and paid-up share
capital of VTTI was
completed on 7 September 2010 at
the final cost of investment of USD882.1 million.
MISC intends to utilise the proceeds to partially repay
borrowings, fund capital expenditure and for future opportunistic acquisitions
or investments when they arise.
Based on the carrying value of MISC's investment in VTTI
as at 30 June 2015, the estimated gain to the MISC group from the Proposed
Disposal is approximately USD9.1 million.
6) Market - Despite holding up against the capitulation
ard the globe today, we feel the technical bounce which began Weds could
sputter out without a more stable and conducive overall outlook ard the region
next week. Hence expect to see cont high volatility trading to continue within
the range of 1530-1630pts range.