20050928 Market Rundup JetFM
No catalyst
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 3.21 points to 924.50. Volume expanded to 463.59 mln shares valued at RM724.22 mln. Losers slightly outpaced gainers 342 to 322, while 355 counters were unchanged and 396 untraded. The Emas Index dropped 0.60 points to 210.44, while the Second Board added 0.03 points to 86.99. Share prices ended lower in sluggish trade as most investors kept to the sidelines ahead of the Malaysian budget announcement on Friday. Economists polled by XFN-Asia said the budget is likely to be slightly expansionary and that the stock market is not expected to see any major catalysts. Among blue chips, Tenaga was lower by 10 sen to RM10.70, Malayan Banking closed at RM11.50 down 20 sen, while Telekom was unchanged at RM10.20. ES Ceramics Technology has made a strong debut in the early trade on the MESDAQ Market, however it closed at 59.5 sen only 4.5 sen premium over its offer price of 55 sen. The most active counter for today was Time dotCom at 66 sen gained 1.5 sen with 25.21 mln shares done.
British Airways (BA) has given another strong hint that it may return to the London-Kuala Lumpur route in the near future, said Malaysia Airports Holdings officials. BA officials had acknowledged that the Malaysian is the largest un-served market in the region by the carrier. They noted that huge market potential with some 345,000 passengers traveling between the UK and Malaysia last year. That was an increase of the total 316,750 total passenger traffic between the UK and Malaysia in 2003. Malaysia Airports at RM2.06 was unchanged.
Proton has come up with a preliminary list of 30 to 40 potential candidates, including some foreigners, to fill its vacant CEO position, said its chairman Dato' Mohamed Azlan Hashim. He also announced that Proton was recalling 2,996 units of Waja 1.6 sold from June 2004 to January 2005 due to possible crack in alloy wheels. On talks with Volkswagen (VW), Azlan said the negotiations were ongoing, with VW expressing interest in taking up a stake in Proton. He said the national interest in Proton would be intact in terms equity and management. Proton at RM8.50 improved 10 sen.
Fotronics Corp edged higher by 5 sen to 59 sen on a report that the company expects earnings growth for the current year to March 2006 to surpass the 25% growth achieved a year earlier, driven mainly by demand for digital optic parts for mobile phones. Hiap Teck Venture was lower in afternoon trade after reporting that its net profit for the year to July fell 8.3% to RM37.91 mln due to lower steel prices and losses incurred by its rolling mill. The stock was down 1 sen at 96.5 sen.
Green Packet was down 4 sen at RM1.77, shedding its earlier gains on an announcement that its subsidiary Green Packet Taiwan has won a contract from Taiwan's Chunghwa Telecom Laboratory. MEMS Technology was up 0.5 sen at 66.5 sen after reporting that its net profit for the year to July rose 67.3% to RM13.7 mln from RM8.19 mln a year earlier, driven mainly by sales of higher margin products and services, coupled with lower product development costs.
Among highlights for today, Ingress Corp at RM1.18 (unchanged); Malaysian Mosaics at RM1.37 (+3 sen); Hap Seng at RM2.19 (-1 sen); SP Setia at RM3.84 (unchanged); Gamuda at RM4.50 (+6 sen); Johor Port at RM2.12 (+7 sen); AirAsia at RM1.59 (+1 sen); Malaysia Steel Works at 68 sen (+6.5 sen); Scomi Group at RM1.17 (-2 sen); MMC Corp at RM2.19 (-1 sen); Hovid at RM1.90 (unchanged); George Kent at 62.5 sen (+0.5 sen); NasionCom Holdings at 19.5 sen (-1 sen).
Japanese shares closed at fresh 4-year highs on Wednesday, as investors continued to snap up shares of blue chips and exporters on optimism that the impending release of important economic data will underline the strength of the country's recovery. The benchmark Nikkei 225-Average was up 0.95% to 13,435.91. Investors expect the Bank of Japan's authoritative Tankan survey of business sentiment on Monday to show an increase in confidence among leading manufacturers.
Regional indices were in the red except for Hong Kong's Hang Seng at 15,221.46 (+0.21%) and South Korea's KOSPI at 1,228.57 (+1.57%); Singapore's STI at 2,301.84 (-0.20%); Taiwan's TWSE at 5,931.38 (-0.23%); Thailand's SET at 723.22 (-0.14%); Philippines' PCOMP at 1,976.10 (-0.42%); Indonesia's JCI at 1,027.888 (-0.94%). A survey last week says Latin America is the favoured emerging market for now.
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 3.21 points to 924.50. Volume expanded to 463.59 mln shares valued at RM724.22 mln. Losers slightly outpaced gainers 342 to 322, while 355 counters were unchanged and 396 untraded. The Emas Index dropped 0.60 points to 210.44, while the Second Board added 0.03 points to 86.99. Share prices ended lower in sluggish trade as most investors kept to the sidelines ahead of the Malaysian budget announcement on Friday. Economists polled by XFN-Asia said the budget is likely to be slightly expansionary and that the stock market is not expected to see any major catalysts. Among blue chips, Tenaga was lower by 10 sen to RM10.70, Malayan Banking closed at RM11.50 down 20 sen, while Telekom was unchanged at RM10.20. ES Ceramics Technology has made a strong debut in the early trade on the MESDAQ Market, however it closed at 59.5 sen only 4.5 sen premium over its offer price of 55 sen. The most active counter for today was Time dotCom at 66 sen gained 1.5 sen with 25.21 mln shares done.
British Airways (BA) has given another strong hint that it may return to the London-Kuala Lumpur route in the near future, said Malaysia Airports Holdings officials. BA officials had acknowledged that the Malaysian is the largest un-served market in the region by the carrier. They noted that huge market potential with some 345,000 passengers traveling between the UK and Malaysia last year. That was an increase of the total 316,750 total passenger traffic between the UK and Malaysia in 2003. Malaysia Airports at RM2.06 was unchanged.
Proton has come up with a preliminary list of 30 to 40 potential candidates, including some foreigners, to fill its vacant CEO position, said its chairman Dato' Mohamed Azlan Hashim. He also announced that Proton was recalling 2,996 units of Waja 1.6 sold from June 2004 to January 2005 due to possible crack in alloy wheels. On talks with Volkswagen (VW), Azlan said the negotiations were ongoing, with VW expressing interest in taking up a stake in Proton. He said the national interest in Proton would be intact in terms equity and management. Proton at RM8.50 improved 10 sen.
Fotronics Corp edged higher by 5 sen to 59 sen on a report that the company expects earnings growth for the current year to March 2006 to surpass the 25% growth achieved a year earlier, driven mainly by demand for digital optic parts for mobile phones. Hiap Teck Venture was lower in afternoon trade after reporting that its net profit for the year to July fell 8.3% to RM37.91 mln due to lower steel prices and losses incurred by its rolling mill. The stock was down 1 sen at 96.5 sen.
Green Packet was down 4 sen at RM1.77, shedding its earlier gains on an announcement that its subsidiary Green Packet Taiwan has won a contract from Taiwan's Chunghwa Telecom Laboratory. MEMS Technology was up 0.5 sen at 66.5 sen after reporting that its net profit for the year to July rose 67.3% to RM13.7 mln from RM8.19 mln a year earlier, driven mainly by sales of higher margin products and services, coupled with lower product development costs.
Among highlights for today, Ingress Corp at RM1.18 (unchanged); Malaysian Mosaics at RM1.37 (+3 sen); Hap Seng at RM2.19 (-1 sen); SP Setia at RM3.84 (unchanged); Gamuda at RM4.50 (+6 sen); Johor Port at RM2.12 (+7 sen); AirAsia at RM1.59 (+1 sen); Malaysia Steel Works at 68 sen (+6.5 sen); Scomi Group at RM1.17 (-2 sen); MMC Corp at RM2.19 (-1 sen); Hovid at RM1.90 (unchanged); George Kent at 62.5 sen (+0.5 sen); NasionCom Holdings at 19.5 sen (-1 sen).
Japanese shares closed at fresh 4-year highs on Wednesday, as investors continued to snap up shares of blue chips and exporters on optimism that the impending release of important economic data will underline the strength of the country's recovery. The benchmark Nikkei 225-Average was up 0.95% to 13,435.91. Investors expect the Bank of Japan's authoritative Tankan survey of business sentiment on Monday to show an increase in confidence among leading manufacturers.
Regional indices were in the red except for Hong Kong's Hang Seng at 15,221.46 (+0.21%) and South Korea's KOSPI at 1,228.57 (+1.57%); Singapore's STI at 2,301.84 (-0.20%); Taiwan's TWSE at 5,931.38 (-0.23%); Thailand's SET at 723.22 (-0.14%); Philippines' PCOMP at 1,976.10 (-0.42%); Indonesia's JCI at 1,027.888 (-0.94%). A survey last week says Latin America is the favoured emerging market for now.
posted by emacro @ 5:04 PM
0 comments
0 Comments:
Post a Comment
<< Home