FBMKLCI
1692.20pts +2.95pts
(+0.17%) Volume 2.292b Value RM 2.667b
1) The KLCI trended higher for a 4th consecutive day but
reversed from the 1700pts psychological resistance following the stronger US
market overnight which gained as healthcare shares ahead of the reporting
season that will start tonight. Region was mixed as the SHCOMP +2.97% led in
gains while the other world bourses were lacklustre ahead of the release of
FOMC minutes tonight; HSCEI -1.03%, NIKKEI -0.99%, HSI -0.71%, STI -0.50% ASX
+0.24%. Broad market lost some momentum today amid profit taking as the
CONSTRUCTION -3.16% index lost the most grounds weighed by GAMUDA -5.60%, IJM
-4.07%, KEURO -3.93%. Market breadth was negative as losers beat gainers by 520
: 339. Market futures closed 1682 (10pts
discount).
2) Heavyweights :
AXIATA +3.50%, PBBANK +0.65% RM18.38, TENAGA +0.65% RM12.28, UMW +4.91% RM8.11,
SKPETRO +2.89% RM2.13, MAYBANK +0.59% RM8.52, PPB -2.27% RM15.44, BAT -1.89%
RM62.00.
3) DBT : SUNSURIA-WA 1.5mil @ RM0.22
4) Situational:-
AIRASIA -3.03% RM1.28 - : Share price slipped after
AirAsia says it is unaware of claims that the low-cost carrier will be taken
private by its founders. However, AirAsia confirmed that it is in discussions
with certain bankers to partially finance the buyback of its shares. Referring
to yesterday's (Tuesday's) wire and media reports stating that the company will
be taken private, the company would like to state that it has no knowledge of
the privatisation.
5) YTL Power
YTL Power Generation S/B, a wholly-owned subsidiary of
YTL Power International Berhad, has been selected as a successful bidder for
the supply of power from its existing facility in Paka under the short term
capacity bid called by the Energy Commission for a period of 2 years 10 months
commencing 1 March 2016. This follows the successful completion of the 21 year
Power Purchase Agreement entered into between YTLPG and Tenaga Nasional Berhad
on 30 September 2015.
Separately, YTLPG has registered its interest to
participate in the New Enhanced Dispatch Arrangement under rules recently
announced by the Energy Commission and is looking forward to the introduction
of a competitive market in the Malaysian electricity supply industry.
+ve however this becomes a short term remedy and could
change investors perceptions over their ability to maintain the current yield.
6) Market - The KLCI which has gained 3.5% and 8.4% in
USD termsin the past week is likely to consolidate with an immediate support
around the 1658pts ahead of the next possible catalyst coming from the 2016
Budget due end Oct.
