Market Roundup JetFM
Market Roundup ( 16/9/2005 ) by Jupiter Research
Range-bound trade
At 5 pm, the Kuala Lumpur Composite Index (KLCI) added 2.34 points to 921.99. Volume expanded to 407.02 mln shares valued at RM693.69 mln. Losers outpaced gainers 381 to 315, while 335 counters were unchanged and 384 untraded. The Emas Index improved 0.40 points to 209.80, while the Second Board fell 0.50 points to 88.12. Share prices ended slightly higher as most investors were cautious amid rising inflation worries, preferring to remain on the sidelines in the absence of market-stimulating news. Among blue chips, both Tenaga and Telekom lost 10 sen to RM10.80 and RM10.40 respectively, while Malayan Banking closed at RM11.50 was unchanged. Iris Corp at 10.5 sen declined 1 sen was the most active counter with 18.85 mln shares done.
Manufacturing sales in July rose 11.8% year-on-year to RM38.7 bln, but were down 0.8% from June, the Statistics Department said. The total number of employees engaged in manufacturing rose 0.9% year-on-year in July to 1.023 mln, and increased 0.2% from the month earlier, it said. Total salaries and wages paid in July were up 3.1% year-on-year at RM1.74 bln, and up 0.3% from the preceding month. For the first 7 months of the year, manufacturing sales were 15.6% higher year-on-year at RM227.6 bln, while total salaries increased 4.3% to RM12.2 bln, the department said.
Bursa Malaysia has issued an usual market activity query to Khee San. Bursa Malaysia said in a circular on September 16 that the query was due to the sharp price increase in the price of the company's securities recently. The share price fell 5 sen to RM1.42.
Scomi Group was higher on expectations that the company would see an improved performance in the 2nd half of the year as new crude oil and gas discoveries boost activity in the industry. Scomi rose 4 sen to RM1.20. The New Straits Times in a report quoted Scomi chairman Asmat Kamaludin as saying that in Malaysia alone, there have been several new crude oil and gas discoveries since 2004 and the company expects these to boost drilling activities, which in turn, will positively impact Scomi's business.
Among highlights for the day, Genting at RM19.90 (+30 sen); QSR Brands at RM3.16 (+8 sen); Mieco Chipboard at RM1.60 (-12 sen); Tanjung Offshore at RM1.82 (unchanged); Landmarks at RM1.13 (-2 sen); KNM Group at RM3.40 (-2 sen); Lion Diversified Holdings at RM1.90 (-2 sen); Cahya Mata Sarawak at RM1.14 (-2 sen); KUB Malaysia at 48.5 sen (+1.5 sen); Naim Cendera Holdings at RM3.14 (unchanged); AirAsia at RM1.59 (-1 sen).
Tokyo's Nikkei average fell 0.22% to 12,958.68 on Friday after touching a new 4-year high at the open, as investors sold TDK Corp and other high tech firms due to concern about their earnings prospects. Banks, many of which spent the day in negative territory, bounced back by late trade after a credit rating agency said it was optimistic about Japan's lenders. Early in the morning session it rose as high as 12,992.99, its highest intra-day level since June 26, 2001, but failed to top the psychological barrier of 13,000. It rose 2.1% on the week and has posted a total gain of 10% in the past 6 weeks. Many techs have lagged a recent rally that has boosted the Nikkei about 13% so far this year, due to investor concern about their profit outlooks. Japan's banks, investor favorites during the Nikkei's recent rally, again climbed after being dented by a morning profit taking. Credit rating agency Moody's Investors Service said it was more optimistic about Japan's top banks on Friday, lifting its rating of UFJ Holdings and placing 3 other mega banks on review for possible upgrades. Tokyo's stock market will be closed on Monday and Friday next week for national holidays, prompting some investors to hold back from aggressive buying.
Regional bourses closed the week in red, Hong Kong's Hang Seng at 14,983.20 (-0.38%); Singapore's STI at 2,306.38 (-0.49%); South Korea's KOSPI at 1,174.13 (+0.39%); Taiwan's TWSE at 6,031.24 (-0.84%); Thailand's SET at 708.11 (-0.43%); Philippines' PCOMP at 1,909.80 (+0.35%); Indonesia's JCI at 1,056.726 (+0.55%).
Range-bound trade
At 5 pm, the Kuala Lumpur Composite Index (KLCI) added 2.34 points to 921.99. Volume expanded to 407.02 mln shares valued at RM693.69 mln. Losers outpaced gainers 381 to 315, while 335 counters were unchanged and 384 untraded. The Emas Index improved 0.40 points to 209.80, while the Second Board fell 0.50 points to 88.12. Share prices ended slightly higher as most investors were cautious amid rising inflation worries, preferring to remain on the sidelines in the absence of market-stimulating news. Among blue chips, both Tenaga and Telekom lost 10 sen to RM10.80 and RM10.40 respectively, while Malayan Banking closed at RM11.50 was unchanged. Iris Corp at 10.5 sen declined 1 sen was the most active counter with 18.85 mln shares done.
Manufacturing sales in July rose 11.8% year-on-year to RM38.7 bln, but were down 0.8% from June, the Statistics Department said. The total number of employees engaged in manufacturing rose 0.9% year-on-year in July to 1.023 mln, and increased 0.2% from the month earlier, it said. Total salaries and wages paid in July were up 3.1% year-on-year at RM1.74 bln, and up 0.3% from the preceding month. For the first 7 months of the year, manufacturing sales were 15.6% higher year-on-year at RM227.6 bln, while total salaries increased 4.3% to RM12.2 bln, the department said.
Bursa Malaysia has issued an usual market activity query to Khee San. Bursa Malaysia said in a circular on September 16 that the query was due to the sharp price increase in the price of the company's securities recently. The share price fell 5 sen to RM1.42.
Scomi Group was higher on expectations that the company would see an improved performance in the 2nd half of the year as new crude oil and gas discoveries boost activity in the industry. Scomi rose 4 sen to RM1.20. The New Straits Times in a report quoted Scomi chairman Asmat Kamaludin as saying that in Malaysia alone, there have been several new crude oil and gas discoveries since 2004 and the company expects these to boost drilling activities, which in turn, will positively impact Scomi's business.
Among highlights for the day, Genting at RM19.90 (+30 sen); QSR Brands at RM3.16 (+8 sen); Mieco Chipboard at RM1.60 (-12 sen); Tanjung Offshore at RM1.82 (unchanged); Landmarks at RM1.13 (-2 sen); KNM Group at RM3.40 (-2 sen); Lion Diversified Holdings at RM1.90 (-2 sen); Cahya Mata Sarawak at RM1.14 (-2 sen); KUB Malaysia at 48.5 sen (+1.5 sen); Naim Cendera Holdings at RM3.14 (unchanged); AirAsia at RM1.59 (-1 sen).
Tokyo's Nikkei average fell 0.22% to 12,958.68 on Friday after touching a new 4-year high at the open, as investors sold TDK Corp and other high tech firms due to concern about their earnings prospects. Banks, many of which spent the day in negative territory, bounced back by late trade after a credit rating agency said it was optimistic about Japan's lenders. Early in the morning session it rose as high as 12,992.99, its highest intra-day level since June 26, 2001, but failed to top the psychological barrier of 13,000. It rose 2.1% on the week and has posted a total gain of 10% in the past 6 weeks. Many techs have lagged a recent rally that has boosted the Nikkei about 13% so far this year, due to investor concern about their profit outlooks. Japan's banks, investor favorites during the Nikkei's recent rally, again climbed after being dented by a morning profit taking. Credit rating agency Moody's Investors Service said it was more optimistic about Japan's top banks on Friday, lifting its rating of UFJ Holdings and placing 3 other mega banks on review for possible upgrades. Tokyo's stock market will be closed on Monday and Friday next week for national holidays, prompting some investors to hold back from aggressive buying.
Regional bourses closed the week in red, Hong Kong's Hang Seng at 14,983.20 (-0.38%); Singapore's STI at 2,306.38 (-0.49%); South Korea's KOSPI at 1,174.13 (+0.39%); Taiwan's TWSE at 6,031.24 (-0.84%); Thailand's SET at 708.11 (-0.43%); Philippines' PCOMP at 1,909.80 (+0.35%); Indonesia's JCI at 1,056.726 (+0.55%).
posted by emacro @ 6:36 AM
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