Market Roundup | 12 November 2015

 FBMKLCI 
1663.20pts   -2.12pts (-0.13%)    Volume
2.137b   Value RM 1.846b

 

The KLCI closed in negative territory after a choppy session, inline with the weaker US market overnight as investors weigh the odds of a possible rate hike in Dec following stronger jobs report last Friday. Regions were mostly mixed as the HSI +2.40%, HSCEI +1.59% gained, while SHCOMP -0.48%, STI -0.76% fell into the red. PLANTATION  -1.22% stocks lost the most grounds today weighed by heavyweights IOICORP -3.50%, KLK -1.82%, GENP -0.19% while the FINANCE +0.46% index outperformed buoyed by buying amongst MAYBANK +1.70%, PBBANK +0.78%, HLBANK +1.16%. Market breadth was positive with gainers inching losers by 476 : 409. Market Futures closed at 1652 (11pts discount).

 

 

2) Heavyweights : IOICORP -3.50% RM4.13, PPB -2.66% RM15.32, KLK -1.82% RM22.54, PETDAG -2.74% RM23.42, SKPETRO -2.30% RM2.12, AMBANK -1.73% RM4.54, MAYBANK +1.70% RM8.36, PBBANK +0.78% RM17.96.

 

3) DBT : YEN 12mil @ RM 0.305 (9.6% PUC), OCK 7.5mil @ RM0.78 (1.42% PUC @ 3.8% discount), CMMT 6.188mil @ RM1.385, SCABLE 2.5mil @ RM1.55

 

4) Situational:-

DOLPHIN  +1.85% RM0.825 - Dolphin International Bhd, which made its listing debut five months ago, has proposed to undertake a bonus issue of 55.5m warrants on the basis of one free warrant for every four existing Dolphin shares. The company, which provides mechanical and engineering solutions for automating palm oil mill processes, said that each warrant would entitle the holder to subscribe for a new Dolphin share at an exercise price to be later fixed -- not lower than the 20.0-sen par value of Doplhin shares -- during a five-year exercise period.

 

5) STEMLIFE

The company recieved a notice of conditional mandatory take-over offer  from CGL  in respect of the Offeror’s obligation to undertake a take-over offer to acquire all the remaining ordinary shares of RM0.10 each in StemLife not already owned by the Offeror  for a cash offer price of RM0.45 per Offer Share. The Board will hold a Board meeting to deliberate the Offer and make an announcement in due course. The Notice will be posted to the holders of the Offer Shares within seven days of its receipt.  The offer represents a 5.9% premium over today’s closing price and 20% the 3mth VWAP.

 

6) Market – Investors will continue to thread cautiously ahead of the expected rate hike in the US next month with focus firmly on exporting companies who continue to enjoy the added margins from gains on forex.