20050915 Market Roundup by JetFM
Market Roundup ( 15/9/2005 ) by Jupiter Research
Bursa higher against regional down trend and higher crude oil
At 5 pm, the Kuala Lumpur Composite Index (KLCI) improved 4.91 points to 919.65. Volume expanded to 584.39 mln shares valued at RM650.54 mln. Gainers outpaced losers 475 to 261, while 301 counters were unchanged and 379 untraded. The Emas Index added 1.08 points to 209.40, while the Second Board increased 1.05 points to 88.62. Mild fund buying of heavyweights lifted the benchmark KLCI higher despite concerns about a spike in crude oil prices. Among blue chips, Tenaga at RM10.90 advanced 20 sen, Malayan Banking at RM11.50 was 10 sen higher, while Telekom at RM10.50 jumped 30 sen higher. RHB-WB added 0.5 sen to 16.5 sen was the most active counter today with 41.12 mln shares done.
Malaysia's markets watchdog announced relaxed investment rules on Thursday, allowing local investors to invest in foreign listed securities and foreign companies to issue shares in the domestic market. The Securities Commission said it would also allow institutional or high-net-worth investors to trade non-Ringgit bonds in the secondary market without its prior approval. It will also make it easier for Malaysian firms to issue non-Ringgit bonds to these types of investors in Malaysia, it added.
Select speculative plays were higher on rotational interest, with following stocks seen having limited downside risks, Fountain View Development was up 2.5 sen at 43.5 sen, Big Industries rose 8.5 sen to RM1.02, Ngiu Kee Corp was up 4 sen at 50.5 sen and Golden Plus up 4 sen at 53.5 sen. Bursa Malaysia issued an unusual market activity query to eBworx on September 15 due to the sharp increase in price and high volume in the company's securities recently. Share price of eBworx fell 4.5 sen 35 sen.
Financially troubled Jin Lin Wood Industries said the Securities Commission has approved its proposed restructuring scheme. Earlier, the integrated timber company had said it is undertaking a restructuring plan involving a capital reduction, debt settlement and acquisition that will result in a reverse takeover of the company. Jin Lin at 13.5 sen dropped 2 sen. BSNC Corp has acquired a major stake in MESDAQ listed MOL Accessportal after buying 4.80 mln shares or 9.06% shareholding. Filings showed that shares were acquired via a private placement at 39.5 sen each on September 2. MOL Accessportal was not traded at 37 sen.
Among highlights for today, Malaysian Airline System at RM3.14 (-4 sen); AirAsia at RM1.60 (+2 sen); Mieco Chipboard at RM1.72 (-11 sen); Landmarks at RM1.15 (-2 sen); Southern Bank at RM3.52 (+4 sen); Pantai Holdings at RM1.70 (-7 sen); Hexagon Holdings at RM3.26 (+2 sen); iNix Technologies Holdings at 65 sen (-3 sen); Tronoh Consolidated at RM3.08 (+4 sen); My-Infotech at 54 sen (-0.5 sen); Formis Holdings at 92.5 sen (+1.5 sen); Berjaya Group at 8.5 sen (unchanged); Avenue Capital Resources at 64.5 sen (+2 sen); Pos Malaysia & Services Holdings at RM3.46 (unchanged); Titan Chemicals Corp at RM1.59 (unchanged).
Japanese stocks closed up on Thursday, boosted by strong gains in the commodities and technology sectors. The Nikkei 225-Average ended the day up 1.19% at 12,986.78. Commodities and materials producers rose particularly strongly. Iron and steel stocks rose 3.5%, with non-ferrous metals, mining and crude oil shares also showing strong increases. Crude oil stocks were boosted by higher crude oil prices. Steel makers' share prices have benefited recently from their decision to boost dividend payments. They have been rewarded in particular by Japanese retail investors looking for income, who invest in high-dividend stocks through special funds run by asset managers. Their promising prospects have kept interest high among foreign investors, too. Several technology manufacturers have shown strong rises. Some domestically focused sectors also rose strongly, as foreign investors optimistic about Japan's recovery continued to invest in stocks with heavy exposure to the domestic market. Retailers ended the day up 1.1%, with wholesalers up 1.3%. Securities houses jumped 1.6%, and insurance gained 1.7%.
Bursa higher against regional down trend and higher crude oil
At 5 pm, the Kuala Lumpur Composite Index (KLCI) improved 4.91 points to 919.65. Volume expanded to 584.39 mln shares valued at RM650.54 mln. Gainers outpaced losers 475 to 261, while 301 counters were unchanged and 379 untraded. The Emas Index added 1.08 points to 209.40, while the Second Board increased 1.05 points to 88.62. Mild fund buying of heavyweights lifted the benchmark KLCI higher despite concerns about a spike in crude oil prices. Among blue chips, Tenaga at RM10.90 advanced 20 sen, Malayan Banking at RM11.50 was 10 sen higher, while Telekom at RM10.50 jumped 30 sen higher. RHB-WB added 0.5 sen to 16.5 sen was the most active counter today with 41.12 mln shares done.
Malaysia's markets watchdog announced relaxed investment rules on Thursday, allowing local investors to invest in foreign listed securities and foreign companies to issue shares in the domestic market. The Securities Commission said it would also allow institutional or high-net-worth investors to trade non-Ringgit bonds in the secondary market without its prior approval. It will also make it easier for Malaysian firms to issue non-Ringgit bonds to these types of investors in Malaysia, it added.
Select speculative plays were higher on rotational interest, with following stocks seen having limited downside risks, Fountain View Development was up 2.5 sen at 43.5 sen, Big Industries rose 8.5 sen to RM1.02, Ngiu Kee Corp was up 4 sen at 50.5 sen and Golden Plus up 4 sen at 53.5 sen. Bursa Malaysia issued an unusual market activity query to eBworx on September 15 due to the sharp increase in price and high volume in the company's securities recently. Share price of eBworx fell 4.5 sen 35 sen.
Financially troubled Jin Lin Wood Industries said the Securities Commission has approved its proposed restructuring scheme. Earlier, the integrated timber company had said it is undertaking a restructuring plan involving a capital reduction, debt settlement and acquisition that will result in a reverse takeover of the company. Jin Lin at 13.5 sen dropped 2 sen. BSNC Corp has acquired a major stake in MESDAQ listed MOL Accessportal after buying 4.80 mln shares or 9.06% shareholding. Filings showed that shares were acquired via a private placement at 39.5 sen each on September 2. MOL Accessportal was not traded at 37 sen.
Among highlights for today, Malaysian Airline System at RM3.14 (-4 sen); AirAsia at RM1.60 (+2 sen); Mieco Chipboard at RM1.72 (-11 sen); Landmarks at RM1.15 (-2 sen); Southern Bank at RM3.52 (+4 sen); Pantai Holdings at RM1.70 (-7 sen); Hexagon Holdings at RM3.26 (+2 sen); iNix Technologies Holdings at 65 sen (-3 sen); Tronoh Consolidated at RM3.08 (+4 sen); My-Infotech at 54 sen (-0.5 sen); Formis Holdings at 92.5 sen (+1.5 sen); Berjaya Group at 8.5 sen (unchanged); Avenue Capital Resources at 64.5 sen (+2 sen); Pos Malaysia & Services Holdings at RM3.46 (unchanged); Titan Chemicals Corp at RM1.59 (unchanged).
Japanese stocks closed up on Thursday, boosted by strong gains in the commodities and technology sectors. The Nikkei 225-Average ended the day up 1.19% at 12,986.78. Commodities and materials producers rose particularly strongly. Iron and steel stocks rose 3.5%, with non-ferrous metals, mining and crude oil shares also showing strong increases. Crude oil stocks were boosted by higher crude oil prices. Steel makers' share prices have benefited recently from their decision to boost dividend payments. They have been rewarded in particular by Japanese retail investors looking for income, who invest in high-dividend stocks through special funds run by asset managers. Their promising prospects have kept interest high among foreign investors, too. Several technology manufacturers have shown strong rises. Some domestically focused sectors also rose strongly, as foreign investors optimistic about Japan's recovery continued to invest in stocks with heavy exposure to the domestic market. Retailers ended the day up 1.1%, with wholesalers up 1.3%. Securities houses jumped 1.6%, and insurance gained 1.7%.
posted by emacro @ 4:01 AM
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