20050929 Market Roundup JetFM
Better tomorrow
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 0.27 points to 924.23. Volume expanded to 378.76 mln shares valued at RM742.33 mln. Losers outpaced gainers 362 to 289, while 359 counters were unchanged and 404 untraded. The Emas Index added 0.09 points to 210.53, while the Second Board increased 0.28 points to 87.27. Share prices closed slightly lower in range bound trade, with renewed concerns over rising crude oil prices offsetting bargain hunting ahead of the federal budget announcement tomorrow. Trading continued to be sluggish in the absence of market moving news, with most investors remaining cautious. Among blue chips, Malayan Banking at RM11.50 was unchanged, while both Tenaga at RM10.80 and Telekom at RM10.30 advanced 10 sen. Time dotCom at 67 sen gained 1 sen was again the most active counter with 15.58 mln shares done.
Khazanah National has bought a 16.82% stake in Indonesia's cellular operator PT Excelcomindo Pratama, an official with the local company said. Telecom owns a 25% stake in Excelcomindo. Seperately, PT Excelcomindo Pratama said it expects its full-year net loss to widen to around IDR300 bln this year from IDR50 bln last year, due to foreign exchange losses. It currently holds USD350 mln bonds due 2009, plus USD70 mln in short-term loans. Excelcomindo has just raised IDR2.86 tln from the sale of 1.427 bln shares via an initial public offering last week.
Proton Holdings was down 15 sen at RM8.35 on concerns that its lengthy talks with Volkswagen on a strategic alliance may drain its finances. ES Ceramics Technology shed 4 sen to 55.5 sen on talk of selling by investors looking for quick gains.
Fotronics Corp edged up 6 sen to 65 sen after announcing that its shares would trade ex-bonus from October 13, with the entitlement date set for October 17. mTouche Technology was down 1 sen at RM1.94 as investors reacted negatively to its planned private placement of up to 7.45 mln shares.
KNM Group surged 24 sen to another high of RM3.70 ahead of its scheduled transfer to the Main Board tomorrow. KNM will be transferred to the Main Board under the Industrial Products sector. Its stock short name, number and ISIN Code remain the same. Zecon's announcement that it was taking a major stake in Setron, saw the latter's share price rising 19.5 sen to 76.5 sen and the warrants 11.5 sen to 40.5 sen. However, Zecon fell 2 sen to RM1.33.
Among highlights for today, Malakoff at RM7.80 (+15 sen); Southern Bank at RM3.50 (+2 sen); Malaysia Airline System at RM3.30 (-2 sen); AirAsia at RM1.56 (-3 sen); Malaysian Plantation at RM2.43 (+3 sen); Tanjong Plc at RM14.30 (-20 sen); Malaysia Steel Works at 70.5 sen (+2.5 sen); Subur Tiasa Holdings at RM2.76 (unchanged); Land & General at 14.5 sen (-0.5 sen); Glomac at RM1.29 (-2 sen); Gamuda at RM4.50 (unchanged); Lion Industries at 89 sen (-1 sen).
Tokyo shares reached fresh 4-year highs on Thursday as the release of promising retail sales data bolstered the view that Japan's economic recovery is on a steady recovery path. The benchmark Nikkei 225-Average closed up 1.35% to 13,617.24, breaking the 13,500-level barrier and closing at its highest level since May 2001. Government data released before the market open showed that retail sales in Japan rose 1.5% in August from a year ago, underlining that domestic demand has rebounded. Investors are looking ahead to Friday's release of data on industrial production and consumer price inflation, also expected to be positive. Bank shares were broadly higher after a Bank of Japan policy board member, Miyako Suda, widely seen as a policy hawk, said the central bank could abandon its ultra-easy monetary policy within the next 6 months. Banking shares rallied on the expectation that the move could pave the way for banks to impose higher lending rates. Steel maker continued their rally as investors poured more money into cyclical stocks.
Among the top gainers in the region were Hong Kong's Hang Seng at 15,431.25 (+1.38%), Taiwan's TWSE at 6,009.99 (+1.33%), Indonesia's JCI at 1,048.302 (+1.99%) and South Korea's KOSPI at 1,231.22 (+0.22%). The losers included Singapore's STI at 2,299.29 (-0.11%),Thailand's SET at 722.76 (-0.06%) and Philippines' PCOMP at 1,970.19 (-0.30%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 0.27 points to 924.23. Volume expanded to 378.76 mln shares valued at RM742.33 mln. Losers outpaced gainers 362 to 289, while 359 counters were unchanged and 404 untraded. The Emas Index added 0.09 points to 210.53, while the Second Board increased 0.28 points to 87.27. Share prices closed slightly lower in range bound trade, with renewed concerns over rising crude oil prices offsetting bargain hunting ahead of the federal budget announcement tomorrow. Trading continued to be sluggish in the absence of market moving news, with most investors remaining cautious. Among blue chips, Malayan Banking at RM11.50 was unchanged, while both Tenaga at RM10.80 and Telekom at RM10.30 advanced 10 sen. Time dotCom at 67 sen gained 1 sen was again the most active counter with 15.58 mln shares done.
Khazanah National has bought a 16.82% stake in Indonesia's cellular operator PT Excelcomindo Pratama, an official with the local company said. Telecom owns a 25% stake in Excelcomindo. Seperately, PT Excelcomindo Pratama said it expects its full-year net loss to widen to around IDR300 bln this year from IDR50 bln last year, due to foreign exchange losses. It currently holds USD350 mln bonds due 2009, plus USD70 mln in short-term loans. Excelcomindo has just raised IDR2.86 tln from the sale of 1.427 bln shares via an initial public offering last week.
Proton Holdings was down 15 sen at RM8.35 on concerns that its lengthy talks with Volkswagen on a strategic alliance may drain its finances. ES Ceramics Technology shed 4 sen to 55.5 sen on talk of selling by investors looking for quick gains.
Fotronics Corp edged up 6 sen to 65 sen after announcing that its shares would trade ex-bonus from October 13, with the entitlement date set for October 17. mTouche Technology was down 1 sen at RM1.94 as investors reacted negatively to its planned private placement of up to 7.45 mln shares.
KNM Group surged 24 sen to another high of RM3.70 ahead of its scheduled transfer to the Main Board tomorrow. KNM will be transferred to the Main Board under the Industrial Products sector. Its stock short name, number and ISIN Code remain the same. Zecon's announcement that it was taking a major stake in Setron, saw the latter's share price rising 19.5 sen to 76.5 sen and the warrants 11.5 sen to 40.5 sen. However, Zecon fell 2 sen to RM1.33.
Among highlights for today, Malakoff at RM7.80 (+15 sen); Southern Bank at RM3.50 (+2 sen); Malaysia Airline System at RM3.30 (-2 sen); AirAsia at RM1.56 (-3 sen); Malaysian Plantation at RM2.43 (+3 sen); Tanjong Plc at RM14.30 (-20 sen); Malaysia Steel Works at 70.5 sen (+2.5 sen); Subur Tiasa Holdings at RM2.76 (unchanged); Land & General at 14.5 sen (-0.5 sen); Glomac at RM1.29 (-2 sen); Gamuda at RM4.50 (unchanged); Lion Industries at 89 sen (-1 sen).
Tokyo shares reached fresh 4-year highs on Thursday as the release of promising retail sales data bolstered the view that Japan's economic recovery is on a steady recovery path. The benchmark Nikkei 225-Average closed up 1.35% to 13,617.24, breaking the 13,500-level barrier and closing at its highest level since May 2001. Government data released before the market open showed that retail sales in Japan rose 1.5% in August from a year ago, underlining that domestic demand has rebounded. Investors are looking ahead to Friday's release of data on industrial production and consumer price inflation, also expected to be positive. Bank shares were broadly higher after a Bank of Japan policy board member, Miyako Suda, widely seen as a policy hawk, said the central bank could abandon its ultra-easy monetary policy within the next 6 months. Banking shares rallied on the expectation that the move could pave the way for banks to impose higher lending rates. Steel maker continued their rally as investors poured more money into cyclical stocks.
Among the top gainers in the region were Hong Kong's Hang Seng at 15,431.25 (+1.38%), Taiwan's TWSE at 6,009.99 (+1.33%), Indonesia's JCI at 1,048.302 (+1.99%) and South Korea's KOSPI at 1,231.22 (+0.22%). The losers included Singapore's STI at 2,299.29 (-0.11%),Thailand's SET at 722.76 (-0.06%) and Philippines' PCOMP at 1,970.19 (-0.30%).
posted by emacro @ 5:30 AM
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