20051007 Market Rundup JetFM
1-point lower
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 1.04 point to 925.21. Volume expanded to 390.74 mln shares valued at RM613.67 mln. Gainers outpaced losers 347 to 327, while 332 counters were unchanged and 409 untraded. The Emas Index dropped 0.18 points to 210.58, while the Second Board added 0.40 points to 87.77. Share prices ended the day 1-point lower, with the overnight declines on Wall Street and foreign fund selling weighting on sentiment. Foreign funds are slowly reducing their exposure in non-US Dollar denominated assets on expectations of higher interest rates in the US. Further comments from a Federal Reserve official about inflation in the US have boosted expectations of further interest rate hikes. However semiconductor stocks bucked the trend on hopes of a recovery in the technology sector. Among blue chips, both Telekom and Malayan Banking were 10 sen lower at RM10.20 and RM11.40 respectively, while Tenaga was unchanged at RM10.80. Carotech was the most active with 16.22 mln shares done. The counter closed 9 sen higher to 75 sen.
BIMB Holdings' shares were suspended from 9am today to facilitate the release of its results for the year to June 2005. BIMB last traded at RM1.40. The Group registered a pre-tax loss of RM434.79 mln for the quarter just ended compared to a profit of RM4.57 mln for the previous quarter. The decrease was due to higher allowance on non-performing financing of RM508.13 mln mostly from the Bank's offshore unit, Bank Islam (L) Ltd, a former subsidiary that was converted into a branch in December 2004 to enhance supervision and inculcate tighter risk management practices. The rise in non-performing loans was largely due to the adoption of a more stringent provisioning requirement of Bank Negara's guidelines. BIMB's shares will resume trading on October 10.
August industrial output expanded at the fastest pace in 4 months, as company such as Unisem produced more semiconductors to meet rising overseas orders. Production at factories, utilities and mines rose 4.1% from a year earlier, the Statistics Department said in a release today. Semiconductor stock Malaysian Pacific Industries was up 10 sen at RM10.90, Unisem gained 10 sen to RM1.43, Globetronics was up 2.5 sen at 34 sen, while AIC Corp added 1 sen to RM1.14 on higher exports.
Plantations stocks were lower on profit taking, after gaining for 2 consecutive days on expectations of improved crude palm oil prices. Sime Darby eased 5 sen to RM6.15, Golden Hope was unchanged at RM4.12, PPB Oil Palms was flat at RM4.92, while Asiatic Development fell 14 sen to RM2.29.
Shell Refining was down on expectations of lower margins following the continued decline in crude oil prices. Shell was down 20 sen at RM11.40. Scicom (MSC) was down 5 sen at 88 on talk of selling by substantial shareholder AKN Capital.
Among highlights for today, Ranhill Utilities at RM1.49 (unchanged); UEM Builders at 65.5 sen (+1 sen); UEM World at 58 sen (+1 sen); Octagon Consolidated at 90 sen (+1.5 sen); TMC Life Sciences at 91.5 sen (unchanged); Press Metal at 28 sen (-1.5 sen); Green Packet at RM1.80 (-2 sen); QSR Brand at RM3.20 (+8 sen); Kulim at RM2.94 (-1 sen); PECD at 52.5 sen (+4 sen); Sime Darby at RM6.15 (-5 sen); British American Tobacco at RM38.75 (-75 sen); Wah Seong Corp at RM2.04 (+1 sen).
Japanese stocks enjoyed mixed fortunes on Friday, with sharp rises and falls in certain sectors as investors continued to adjust sector weightings. The tech-heavy Nikkei 225-Average closed 0.99% lower to 13,227.74. Precision machinery stocks fell 1.9%, as investors continued to show 2nd thoughts about the sharp rise in the sector earlier in the week. Investors remain worried about the earnings prospects of many Japanese technology companies. But the iron and steel sector, which has risen sharply this year, made up ground it lost this week on profit taking, jumping 3.5%. The banks, which have also been at the forefront of Japanese equities' recent share price rally, recovered too after falls earlier in the week, with a 1.7% increase. Investors adjusted weightings within the crude oil sector at the expense of upstream companies, which have gained recently from high crude oil prices.
Winners in the region-HK's Hang Seng at 14,847.79 (+0.06%), Singapore's STI at 2,305.24 (+0.69%) and Philippines' PCOMP at 1,952.28 (+0.67%); Losers were Korea's KOSPI at 1,201.01 (-0.12%); Taiwan's TWSE at 6,081.84 (-0.23%); the Thai SET at 709.87 (-0.13%); Jakarta's JCI at 1,094.652 (-0.16%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 1.04 point to 925.21. Volume expanded to 390.74 mln shares valued at RM613.67 mln. Gainers outpaced losers 347 to 327, while 332 counters were unchanged and 409 untraded. The Emas Index dropped 0.18 points to 210.58, while the Second Board added 0.40 points to 87.77. Share prices ended the day 1-point lower, with the overnight declines on Wall Street and foreign fund selling weighting on sentiment. Foreign funds are slowly reducing their exposure in non-US Dollar denominated assets on expectations of higher interest rates in the US. Further comments from a Federal Reserve official about inflation in the US have boosted expectations of further interest rate hikes. However semiconductor stocks bucked the trend on hopes of a recovery in the technology sector. Among blue chips, both Telekom and Malayan Banking were 10 sen lower at RM10.20 and RM11.40 respectively, while Tenaga was unchanged at RM10.80. Carotech was the most active with 16.22 mln shares done. The counter closed 9 sen higher to 75 sen.
BIMB Holdings' shares were suspended from 9am today to facilitate the release of its results for the year to June 2005. BIMB last traded at RM1.40. The Group registered a pre-tax loss of RM434.79 mln for the quarter just ended compared to a profit of RM4.57 mln for the previous quarter. The decrease was due to higher allowance on non-performing financing of RM508.13 mln mostly from the Bank's offshore unit, Bank Islam (L) Ltd, a former subsidiary that was converted into a branch in December 2004 to enhance supervision and inculcate tighter risk management practices. The rise in non-performing loans was largely due to the adoption of a more stringent provisioning requirement of Bank Negara's guidelines. BIMB's shares will resume trading on October 10.
August industrial output expanded at the fastest pace in 4 months, as company such as Unisem produced more semiconductors to meet rising overseas orders. Production at factories, utilities and mines rose 4.1% from a year earlier, the Statistics Department said in a release today. Semiconductor stock Malaysian Pacific Industries was up 10 sen at RM10.90, Unisem gained 10 sen to RM1.43, Globetronics was up 2.5 sen at 34 sen, while AIC Corp added 1 sen to RM1.14 on higher exports.
Plantations stocks were lower on profit taking, after gaining for 2 consecutive days on expectations of improved crude palm oil prices. Sime Darby eased 5 sen to RM6.15, Golden Hope was unchanged at RM4.12, PPB Oil Palms was flat at RM4.92, while Asiatic Development fell 14 sen to RM2.29.
Shell Refining was down on expectations of lower margins following the continued decline in crude oil prices. Shell was down 20 sen at RM11.40. Scicom (MSC) was down 5 sen at 88 on talk of selling by substantial shareholder AKN Capital.
Among highlights for today, Ranhill Utilities at RM1.49 (unchanged); UEM Builders at 65.5 sen (+1 sen); UEM World at 58 sen (+1 sen); Octagon Consolidated at 90 sen (+1.5 sen); TMC Life Sciences at 91.5 sen (unchanged); Press Metal at 28 sen (-1.5 sen); Green Packet at RM1.80 (-2 sen); QSR Brand at RM3.20 (+8 sen); Kulim at RM2.94 (-1 sen); PECD at 52.5 sen (+4 sen); Sime Darby at RM6.15 (-5 sen); British American Tobacco at RM38.75 (-75 sen); Wah Seong Corp at RM2.04 (+1 sen).
Japanese stocks enjoyed mixed fortunes on Friday, with sharp rises and falls in certain sectors as investors continued to adjust sector weightings. The tech-heavy Nikkei 225-Average closed 0.99% lower to 13,227.74. Precision machinery stocks fell 1.9%, as investors continued to show 2nd thoughts about the sharp rise in the sector earlier in the week. Investors remain worried about the earnings prospects of many Japanese technology companies. But the iron and steel sector, which has risen sharply this year, made up ground it lost this week on profit taking, jumping 3.5%. The banks, which have also been at the forefront of Japanese equities' recent share price rally, recovered too after falls earlier in the week, with a 1.7% increase. Investors adjusted weightings within the crude oil sector at the expense of upstream companies, which have gained recently from high crude oil prices.
Winners in the region-HK's Hang Seng at 14,847.79 (+0.06%), Singapore's STI at 2,305.24 (+0.69%) and Philippines' PCOMP at 1,952.28 (+0.67%); Losers were Korea's KOSPI at 1,201.01 (-0.12%); Taiwan's TWSE at 6,081.84 (-0.23%); the Thai SET at 709.87 (-0.13%); Jakarta's JCI at 1,094.652 (-0.16%).
posted by emacro @ 6:53 AM
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