FBMKLCI
1628.80 -5.13pts
(-0.31%) Volume 1.335b Value RM 1.698b
1) The KLCI dipped marginally ahead of US jobs data
tonight which could determine the timing of the long expected rate hike in the
US . Regional bourses were mixed as the HSI gained +3.17% amid government's
efforts to support the economy, NIKKEI +0.02% closed flat while the ASX -1.18%
& STI -0.42% fell. TECHNOLOGY +0.89%
stocks bucked the trend led by gains namely UNISEM +4.95%, JCY +1.49%, D&O
+5.88%, INARI +0.59% while PLANTATION -0.71% index saw profit taking as IOICORP
-4.54%, KULIM -0.33%, DUTALND -2.12%. Market breadth was neutral as gainers and
losers were even at 397 : 364. Market futures closed at 1602pts (26pts
discount).
2) Heavyweights :
IOICORP -4.54% RM4.20, MAYBANK -1.17% RM8.45, GENTING -2.15% RM7.28, GENM
-2.14% RM4.11, CIMB -0.44% RM4.47, PBBANK +0.79% RM17.80, KLK +0.98% RM22.50,
AXIATA +0.34% RM5.80.
3) DBT : SYCAL 17.007mil @ RM 0.23 (5.31% PUC), TMAKMUR
7.5mil @ RM1.40 (1.88% PUC), EKIB 5mil @ RM0.75. (5.44% PUC).
4) Situational:-
MBSB +5.96% RM1.60 - Malaysia Building Society Bhd has
obtained the central bank's approval to hold merger discussions with the
shareholders of Bank Muamalat Malaysia Bhd. MBSB said it had received a letter
from Bank Negara Malaysia which states that BNM has no objection in principle
for MBSB to commence negotiations with the existing shareholders of Bank
Muamalat Malaysia Berhad namely DRB-Hicom and Khazanah Nasional, for a proposed
merger of MBSB and Bank Muamalat.
5) Axiata
Axiata's tower
company, edotco Group Sdn Bhd (edotco), has entered into a conditional share
purchase agreement with Digicel Group Limited to acquire a controlling stake in
Digicel Myanmar Tower Company Ltd (MTC) via a Singapore based holding company,
Digicel Asian Holdings Pte Ltd (DAH).
The transaction will deliver to edotco:
* Strategic majority control providing a platform in a
highly attractive tower industry within edotco's geographic area of focus
* Further solidify edotco as a leading infrastructure
provider to the greater Southeast Asian telecom industry
* Expand edotco's footprint beyond Axiata's existing
operations The Myanmar tower market is expected to be one of South East Asia's
largest and fastest growing telecommunication infrastructure service markets.
The transaction values MTC at an enterprise value of
USD221 million, in line with market benchmarks for similar assets. The deal is
subject to relevant regulatory approvals.
6) Market - Continued range bound trading with one eye
particularly on US inflation and jobs data for indication of the much
anticipated rate hike.