20051004 Market Roundup JetFM
Bursa unchanged
At 5 pm, the Kuala Lumpur Composite Index (KLCI) fell 0.57 points to 924.76. Volume expanded to 406.24 mln shares valued at RM579.99 mln. Gainers outpaced losers 333 to 317, while 341 counters were unchanged and 424 untraded. The Emas Index dropped 0.05 points to 210.38, while the Second Board added 0.20 points to 87.25. Stocks were traded mixed with investors remaining cautious after foreign brokers recently downgraded Malaysian equities. Among blue chips, Tenaga gained 10 sen to RM10.80, Malayan Banking closed at RM11.50 was unchanged, while Telekom declined 20 sen to RM10.30. Naim Indah Corp at 20.5 sen gained 1 sen was the most active counter with 27.28 mln shares done.
Malaysia's trade surplus in August surges 64.9% month-on-month to RM9.82 bln from RM5.96 bln in July, the 94th consecutive month of surplus since November 1997. The export in August expanded by 7.0% month-on-month to RM46.63 bln, but imports were at RM36.81 bln, 2.2% lower than the preceding month, said Ministry of International Trade and Industry in a statement here Tuesday. Malaysia's total trade reached a new high of RM83.44 bln in August, an increase of 2.7% from July. It attributed the strong growth in export to the increases in exports of electrical and electronic products, transport equipment, refined petroleum products, crude petroleum, palm oil and chemical products. Malaysia's currency has defied predictions of a strong appreciation against the US Dollar because of the greenback's own resurgence in recent months, the government's 2nd finance minister said on Tuesday. The US Dollar is getting stronger and it's very difficult to see how the Ringgit can buck the trend when other currencies are depreciating, Nor Mohamed Yakcop said.
Petronas dismissed rumors that its president and chief executive officer Hassan Marican has resigned. Mohamad Hassan is not resigning as president and CEO of Petronas, the company said in a statement. The rumors that he is stepping down from Malaysia's sole Fortune 500 company followed his resignation Monday as chairman and director of Petronas Dagangan, a retail gasoline station operator that is 69.9% owned by Petronas. Petronas Dagangan at RM3.96 was unchanged, while Petronas Gas at RM8.75 fell 10 sen.
Philip Morris today raised the price of its cigarettes, following rivals British American Tobacco (BAT) and JT International. The government raised the excise duty on cigarettes and standardized the sales tax, boosting the tax by 13% on average. This is the 3rd year the government has boosted taxes on tobacco. Shares of BAT added 25 sen to RM39.50, while JT International shares gained 6 sen to RM4.18.
Among highlights for today, Malayawata Steel at RM1.45 (+12 sen); Ann Joo at RM1.40 (unchanged); Astro All Asia Networks at RM5.60 (-5 sen); Berjaya Sports Toto at RM4.14 (+14 sen); Carotech at 65.5 sen (-1.5 sen); MISC at RM18.50 (unchanged); Gamuda at RM4.32 (-12 sen); Golden Hope Plantations at RM4.00 (+6 sen); Ramunia Holdings at RM1.21 (+6 sen); Integrated Logistics at RM1.65 (+1 sen); Aluminium Company of Malaysia at RM1.60 (+3 sen); Scicom MSC at RM1.00 (-1 sen); Malaysian Airline System at RM3.34 (+2 sen); Proton Holdings at RM8.70 (+20 sen).
Japanese stocks rose strongly on Tuesday, boosted by the Yen's weakness against the US Dollar. The Nikkei 225-Average jumped 1.58% to 13,738.84, a fresh 4-year closing high. US Dollar strength against the Yen boosted export-heavy stocks such as carmakers. But technology stocks, which have recently lagged the market rally, proved the most popular. The electrical machinery sector jumped 4%, helping push the Nikkei 225 Index higher. But the iron and steel sector plunged 4.2% after UBS warned of the risk of overproduction in China. Banking stocks, strong gainers this year, fell 1.5% in a further sign of sector repositioning within the Japanese market. Tuesday's "huge surge" in technology stocks and weak performance of banking and steel stocks reflected some moderation of this year's unbalanced share price performance between different sectors. Iron and steel shares have risen 63.5% since the beginning of the year, even after allowing for Tuesday's fall, and banking stocks have gained 31%. By contrast electrical machinery stocks had risen only 9% until Tuesday's jump. The strong differences in performance between different sectors remained "rooted in fundamentals" since technology companies' earning prospects are poor but steel companies' earnings prospects are strong.
Regional bourses were mostly higher, Hong Kong's Hang Seng at 15,382.21 (-0.08%); Singapore's STI at 2,323.77 (+0.97%); South Korea's KOSPI at 1,242.78 (+1.78%); Taiwan's TWSE at 6,142.12 (+0.30%); Thailand's SET at 716.24 (-0.16%); Philippines' PCOMP at 1,938.35 (-0.38%); Indonesia's JCI at 1,101.166 (+1.64%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) fell 0.57 points to 924.76. Volume expanded to 406.24 mln shares valued at RM579.99 mln. Gainers outpaced losers 333 to 317, while 341 counters were unchanged and 424 untraded. The Emas Index dropped 0.05 points to 210.38, while the Second Board added 0.20 points to 87.25. Stocks were traded mixed with investors remaining cautious after foreign brokers recently downgraded Malaysian equities. Among blue chips, Tenaga gained 10 sen to RM10.80, Malayan Banking closed at RM11.50 was unchanged, while Telekom declined 20 sen to RM10.30. Naim Indah Corp at 20.5 sen gained 1 sen was the most active counter with 27.28 mln shares done.
Malaysia's trade surplus in August surges 64.9% month-on-month to RM9.82 bln from RM5.96 bln in July, the 94th consecutive month of surplus since November 1997. The export in August expanded by 7.0% month-on-month to RM46.63 bln, but imports were at RM36.81 bln, 2.2% lower than the preceding month, said Ministry of International Trade and Industry in a statement here Tuesday. Malaysia's total trade reached a new high of RM83.44 bln in August, an increase of 2.7% from July. It attributed the strong growth in export to the increases in exports of electrical and electronic products, transport equipment, refined petroleum products, crude petroleum, palm oil and chemical products. Malaysia's currency has defied predictions of a strong appreciation against the US Dollar because of the greenback's own resurgence in recent months, the government's 2nd finance minister said on Tuesday. The US Dollar is getting stronger and it's very difficult to see how the Ringgit can buck the trend when other currencies are depreciating, Nor Mohamed Yakcop said.
Petronas dismissed rumors that its president and chief executive officer Hassan Marican has resigned. Mohamad Hassan is not resigning as president and CEO of Petronas, the company said in a statement. The rumors that he is stepping down from Malaysia's sole Fortune 500 company followed his resignation Monday as chairman and director of Petronas Dagangan, a retail gasoline station operator that is 69.9% owned by Petronas. Petronas Dagangan at RM3.96 was unchanged, while Petronas Gas at RM8.75 fell 10 sen.
Philip Morris today raised the price of its cigarettes, following rivals British American Tobacco (BAT) and JT International. The government raised the excise duty on cigarettes and standardized the sales tax, boosting the tax by 13% on average. This is the 3rd year the government has boosted taxes on tobacco. Shares of BAT added 25 sen to RM39.50, while JT International shares gained 6 sen to RM4.18.
Among highlights for today, Malayawata Steel at RM1.45 (+12 sen); Ann Joo at RM1.40 (unchanged); Astro All Asia Networks at RM5.60 (-5 sen); Berjaya Sports Toto at RM4.14 (+14 sen); Carotech at 65.5 sen (-1.5 sen); MISC at RM18.50 (unchanged); Gamuda at RM4.32 (-12 sen); Golden Hope Plantations at RM4.00 (+6 sen); Ramunia Holdings at RM1.21 (+6 sen); Integrated Logistics at RM1.65 (+1 sen); Aluminium Company of Malaysia at RM1.60 (+3 sen); Scicom MSC at RM1.00 (-1 sen); Malaysian Airline System at RM3.34 (+2 sen); Proton Holdings at RM8.70 (+20 sen).
Japanese stocks rose strongly on Tuesday, boosted by the Yen's weakness against the US Dollar. The Nikkei 225-Average jumped 1.58% to 13,738.84, a fresh 4-year closing high. US Dollar strength against the Yen boosted export-heavy stocks such as carmakers. But technology stocks, which have recently lagged the market rally, proved the most popular. The electrical machinery sector jumped 4%, helping push the Nikkei 225 Index higher. But the iron and steel sector plunged 4.2% after UBS warned of the risk of overproduction in China. Banking stocks, strong gainers this year, fell 1.5% in a further sign of sector repositioning within the Japanese market. Tuesday's "huge surge" in technology stocks and weak performance of banking and steel stocks reflected some moderation of this year's unbalanced share price performance between different sectors. Iron and steel shares have risen 63.5% since the beginning of the year, even after allowing for Tuesday's fall, and banking stocks have gained 31%. By contrast electrical machinery stocks had risen only 9% until Tuesday's jump. The strong differences in performance between different sectors remained "rooted in fundamentals" since technology companies' earning prospects are poor but steel companies' earnings prospects are strong.
Regional bourses were mostly higher, Hong Kong's Hang Seng at 15,382.21 (-0.08%); Singapore's STI at 2,323.77 (+0.97%); South Korea's KOSPI at 1,242.78 (+1.78%); Taiwan's TWSE at 6,142.12 (+0.30%); Thailand's SET at 716.24 (-0.16%); Philippines' PCOMP at 1,938.35 (-0.38%); Indonesia's JCI at 1,101.166 (+1.64%).
posted by emacro @ 6:28 AM
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