20050930 Market Roundup JetFM-Budget 2006 day
Budget pushes the market higher
At 5 pm, the Kuala Lumpur Composite Index (KLCI) gained 3.31 points to 927.54. Volume expanded to 443.62 mln shares valued at RM780.04 mln. Gainers outpaced losers 362 to 305, while 352 counters were unchanged and 397 untraded. The Emas Index added 0.49 points to 211.02, while the Second Board advanced 0.21 points to 87.48. Among blue chips, Tenaga was unchanged at RM10.80, while both Malayan Banking at RM11.60 and Telekom at RM10.40 were higher by 10 sen.
Asian Pac Holdings was higher on a report that the property developer expects 40% higher net profit and an increase of more than 50% in revenue in the current year to March 2006. Asian Pac rose 0.5 sen to 12 sen. The New Straits Times reported, quoting Asian Pac's property division CEO Chuah Swee Guan as saying, that the forecasts are based on the company's internal projections. In the year to March 2005, the company posted a net profit of RM12.08 mln on sales of RM195.15 mln. Asian Pac at 12 sen added 0.5 sen.
Berjaya Sports Toto's shares will resume trading next Tuesday following the completion by the company of capital distribution of 50 sen cash a share, a stock exchange circular said. The company is proposing capital distribution of 50 sen cash per share, which will result in the face value of its shares being cut to 50 sen each from RM1.00. Trading in the stock has been suspended since September 12. The stock was last traded at RM4.50.
Melewar Industrial Group was lower after its net profit for the 2nd quarter to July fell 92.1% to RM1.25 mln from RM15.94 mln a year earlier, as its profit margins were squeezed by higher raw material costs and lower selling prices. However Melewar Industrial closed the day higher by 1 sen to RM1.45.
VS Industry firmed 3 sen to RM1.21 after the company reported that its net profit for the year to July rose sharply to RM19.8 mln from RM6.92 mln a year earlier, boosted by improved sales volume at its Malaysian operations, coupled with higher contributions from its associate with operations in China.
Hovid was higher after proposing a 3-for-5 bonus issue of up to 57.15 mln shares. Hovid gained 2 sen to RM1.93. Carotech also was higher after proposing a 3-for-5 bonus issue of up to 171.05 mln shares. The stock was up 7 sen at 62.5 sen. Megan Media Holdings was down 1 sen at RM1.09 after the company said its net profit for the 1st quarter to July fell 9.3% to RM12.96 mln from RM14.3 mln a year earlier due to higher financing costs. Poh Huat Resources dropped 5 sen to 55 sen after it posted a sharp fall in its net profit for the 3rd quarter to July.
Proton Holdings shed 10 sen to RM8.25 after the company said it has not considered making any capital repayment to shareholders. KNM Group was higher on its transfer to the Main Board of Bursa Malaysia today from the Second Board. The stock was unchanged at RM3.70. Construction-linked stocks were higher. MRCB was the most active with 18.53 mln shares done, adding 2.5 sen to 65.5 sen. UEM Builder was 1.5 sen higher at 68.5 sen and UEM World 1.5 sen at 61.5 sen.
The Nikkei was moving towards a new 4-year closing high on Friday but gains were curbed by the release of economic data that sent mixed signals over the country's economic recovery. The Nikkei 225-Average was up 0.32% at 13,574.30. According to data available on Friday morning, Japan's industrial production rose and unemployment fell marginally in August. But the picture of a steadily improving economy was tempered by a slight fall in household spending and continued deflation. Both the crude oil and steel sectors were among the major losers. Technology stocks were generally strong, following a 1.22% rise in the US NASDAQ Composite overnight. Regional bourses were mixed in performance, Hong Kong's Hang Seng at 15,428.52 (-0.02%); Singapore's STI at 2,305.14 (+0.25%); South Korea's KOSPI at 1,221.01 (-0.83%); Taiwan's TWSE at 6,118.61 (+1.81%); Thailand's SET at 723.11 (+0.04%); Philippines' PCOMP at 1,942.07 (-1.43%); Indonesia's JCI at 1,079.275 (+2.95%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) gained 3.31 points to 927.54. Volume expanded to 443.62 mln shares valued at RM780.04 mln. Gainers outpaced losers 362 to 305, while 352 counters were unchanged and 397 untraded. The Emas Index added 0.49 points to 211.02, while the Second Board advanced 0.21 points to 87.48. Among blue chips, Tenaga was unchanged at RM10.80, while both Malayan Banking at RM11.60 and Telekom at RM10.40 were higher by 10 sen.
Asian Pac Holdings was higher on a report that the property developer expects 40% higher net profit and an increase of more than 50% in revenue in the current year to March 2006. Asian Pac rose 0.5 sen to 12 sen. The New Straits Times reported, quoting Asian Pac's property division CEO Chuah Swee Guan as saying, that the forecasts are based on the company's internal projections. In the year to March 2005, the company posted a net profit of RM12.08 mln on sales of RM195.15 mln. Asian Pac at 12 sen added 0.5 sen.
Berjaya Sports Toto's shares will resume trading next Tuesday following the completion by the company of capital distribution of 50 sen cash a share, a stock exchange circular said. The company is proposing capital distribution of 50 sen cash per share, which will result in the face value of its shares being cut to 50 sen each from RM1.00. Trading in the stock has been suspended since September 12. The stock was last traded at RM4.50.
Melewar Industrial Group was lower after its net profit for the 2nd quarter to July fell 92.1% to RM1.25 mln from RM15.94 mln a year earlier, as its profit margins were squeezed by higher raw material costs and lower selling prices. However Melewar Industrial closed the day higher by 1 sen to RM1.45.
VS Industry firmed 3 sen to RM1.21 after the company reported that its net profit for the year to July rose sharply to RM19.8 mln from RM6.92 mln a year earlier, boosted by improved sales volume at its Malaysian operations, coupled with higher contributions from its associate with operations in China.
Hovid was higher after proposing a 3-for-5 bonus issue of up to 57.15 mln shares. Hovid gained 2 sen to RM1.93. Carotech also was higher after proposing a 3-for-5 bonus issue of up to 171.05 mln shares. The stock was up 7 sen at 62.5 sen. Megan Media Holdings was down 1 sen at RM1.09 after the company said its net profit for the 1st quarter to July fell 9.3% to RM12.96 mln from RM14.3 mln a year earlier due to higher financing costs. Poh Huat Resources dropped 5 sen to 55 sen after it posted a sharp fall in its net profit for the 3rd quarter to July.
Proton Holdings shed 10 sen to RM8.25 after the company said it has not considered making any capital repayment to shareholders. KNM Group was higher on its transfer to the Main Board of Bursa Malaysia today from the Second Board. The stock was unchanged at RM3.70. Construction-linked stocks were higher. MRCB was the most active with 18.53 mln shares done, adding 2.5 sen to 65.5 sen. UEM Builder was 1.5 sen higher at 68.5 sen and UEM World 1.5 sen at 61.5 sen.
The Nikkei was moving towards a new 4-year closing high on Friday but gains were curbed by the release of economic data that sent mixed signals over the country's economic recovery. The Nikkei 225-Average was up 0.32% at 13,574.30. According to data available on Friday morning, Japan's industrial production rose and unemployment fell marginally in August. But the picture of a steadily improving economy was tempered by a slight fall in household spending and continued deflation. Both the crude oil and steel sectors were among the major losers. Technology stocks were generally strong, following a 1.22% rise in the US NASDAQ Composite overnight. Regional bourses were mixed in performance, Hong Kong's Hang Seng at 15,428.52 (-0.02%); Singapore's STI at 2,305.14 (+0.25%); South Korea's KOSPI at 1,221.01 (-0.83%); Taiwan's TWSE at 6,118.61 (+1.81%); Thailand's SET at 723.11 (+0.04%); Philippines' PCOMP at 1,942.07 (-1.43%); Indonesia's JCI at 1,079.275 (+2.95%).
posted by emacro @ 5:55 AM
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