FBMKLCI
1709.86pts +3.32pts
(+0.19%) Volume 2.094b Value RM 2.204b
1) The KLCI extended its winning streak to a 5th
consecutive day inline with the stronger US market before the weekend as
investors digested the Fed's dovish commentaries. Region mostly higher led by
SHCOMP +3.28% which rallied after PBOC's bullish comment saying that the
correction is 'almost over', HSI gained +1.21%, HSCEI +1.26%, STI +1.12%, while
the ASX -0.89% fell behind. CONTRUCTION +0.59% index gained the most grounds
boosted by heavyweights GAMUDA +3.41%, EKOVEST +5.91%, KEURO +1.12%, MUHIBBAH
+0.90%. Market breadth was neutral as gainers and losers were even at 430 : 404
respectively. Market futures closed at 1711.5pts (2pts discount).
2) Heavyweights : TENAGA +3.04% RM12.88, PBBANK +0.43%
RM18.48, TM +1.17% RM6.90, PETGAS +0.88% RM22.80, MAYBANK -1.04% RM8.51,
SKPETRO -1.81% RM2.16, IOICORP -0.90% RM4.40, BAT -1.60% RM61.50.
3) DBT : SYCAL 18.178mil @ RM0.26 (5.67% PUC @ 39.1%
discount), OLYMPIA 7.6mil @ RM0.10, EKIB 5.87mil @ RM0.75 (6.39% PUC).
4) Situational:-
FAJAR +2.15% RM0.475 - Fajarbaru Builder Group Bhd has
entered into an agreement with AK Timber Sdn Bhd to undertake the extraction
and sale of timber from Hutan Simpanan Yong, Pahang, for RM3.2m. Fajarbaru said
its 51-owned subsidiary Smooth Accomplishment Sdn Bhd entered into the
agreement with AK Timber, encompassing two blocks in Hutan Simpan Yong spanning
268 acres and 232 acres, respectively.
5) O&G
Petronas today announced that it intends to continue to
undertake aggresive exploration and appraisal activities despite the low oil
price environment.
General Manager, Malaysia Petroleum Management, Mohd
Redhani Abdul Rahman said Petronas feels that this is one of the main strategic
thrusts that has been working for Malaysia for the past five to 10 years.
He said Petronas acknowledges that the oil and gas
industry in Malaysia is maturing and that what is left to explore are the
riskier areas.
He said the company would also adopt a more sensible approach
such as easier market access for small cap companies.
Data will be made a lot more open, as they are going to
have multiclients such as the first multiclients seismic deepwater survey
offshore Sabah.
+ve and further positives for a recovering industry, our
top picks at current levels remain Barakah , MHB.
6) Market - Consolidation ahead of the budget at month
end with the 1700pts level support expected to hold barring any new negative
surpises.