20051011 Market Roundup JetFM
Key indices closed unchanged
At 5 pm, the KLCI lost 0.45 points to 928.43. Volume expanded to 389.52 mln shares valued at RM547.25 mln. Losers outpaced gainers 393 to 292, while 326 counters were unchanged and 407 untraded. The Emas Index dropped 0.02 points to 211.40, while the Second Board added 0.01 points to 87.48. The benchmark KLCI was higher in early trade on some buying of heavyweights and selected stocks but plantation stocks fell on profit taking activities. However at the end of the day, all key indices were closed unchanged. Among blue chips, both Tenaga at RM10.80 gained 10 sen, Telekom at RM10.20 was unchanged, while Malayan Banking closed at RM11.40 was 10 sen lower. Sunway Holdings Inc Warrants at 15.5 sen advanced 1 sen was the most active counter with 12.82 mln shares done.
Bank Negara has issued new rules that require banks to seek the central bank's endorsement of key management appointments, the Asian Wall Street Journal reported. Quoting unpublished guidelines issued last month to local and foreign owned banks, insurance companies and other financial institutions, the paper said that Bank Negara will have to vet all senior management appointments for the posts of deputy chief executive officer and chief financial officer.
Farlim Group said the Securities Commission (SC) has rejected its proposed debt settlement scheme and planned renounce-able 2-call rights issue of up to 52.8 mln shares on the basis 2 rights shares for every 5 existing shares held. The property developer said the rejection was due to the fact the proposed rights issue involves the capitalization of a 2nd call of 60 sen per Farlim share from share premium and revaluation reserves, which will result in an issue of securities that are not backed by assets. As at end December 2004, Farlim's share premium and revaluation reserves of RM29.6 mln and RM5.8 mln respectively, were deemed "exhausted" based on shareholders' funds of RM109.9 mln, compared to Farlim's share capital of RM120.0 mln. Farlim at 49 sen was unchanged.
Ranhill at RM1.02 was 8.5 sen higher, extending its gains from yesterday, after the company announced that its 60% owned PT Bumi Parahyangan Ranhill Energia Citarum has signed a crude oil and gas production sharing contract with Indonesia's Department of Energy and Mineral Resources. QSR Brands said its shareholders have voted against the removal of 9 directors of the company. As a result, the company said that there were 35.88% votes for the removal and 64.12% against the removal. QSR Brands at RM3.22 increased 4 sen. Modular Techcorp Holdings has received the Foreign Investment Committee's (FIC) approval to buy 70% of Blue-I Network for RM21.5 mln. The deal is now subject to the approval of shareholders. Modular Techcorp at 21 sen improved 0.5 sen.
Plantation stocks were lower on profit taking after rising sharply in the past week on expectations of higher crude palm oil prices. IOI Corp at RM12.80 (-20 sen); Kuala Lumpur Kepong at RM8.10 (-20 sen); PPB Oil Palms at RM4.92 (-2 sen); Golden Hope Plantations at RM4.16 (-4 sen). Among other highlights for today, Malaysia International Shipping Corp at RM9.55 (+10 sen); AsiaEP at 19 sen (-0.5 sen); Sime Engineering at 98 sen (+6.5 sen); NV Multi Corp at 46.5 sen (-0.5 sen); Far East Holdings at RM5.10 (+5 sen); MHC Plantations at RM1.33 (+3 sen); Hovid at RM2.17 (+25 sen); Carotech at 77.5 sen (unchanged); Kinsteel at RM1.15 (-7 sen); Malaysian Resources Corp at 70.5 sen (unchanged); Dijaya Corp at 82 sen (+11.5 sen); GHL Systems at 11 sen (-1 sen); Oilcorp at 84 sen (-16 sen); Scomi Group at RM1.21 (-1 sen); Global Soft MSC at 21 sen (+1 sen).
Japan's Nikkei 225-Average jumped at its fastest pace in a year on Tuesday, responding to extremely strong figures for machinery orders. The Nikkei 225-Average gained 2.49% to reach 13,556.71. The rise came despite overnight falls in US shares, which usually act as a dampener on the Japanese market. The 8.2% month-on-month rise in August machinery orders boosted optimism about the corporate sector. The machinery order figures pushed up steel stocks, which have been performing well so far this year in any case. The iron and steel sector increased 4.5%. In response to the news, even tech stocks closed up on the day, after losing some ground in the morning in reaction to poor overnight US tech stock performance. Electrical machinery rose by 0.9%, with precision machinery up 1.0%. The general sense of optimism helped ramp up banking stocks too, which have also done well this year, by 5.8%. Real estate stocks climbed 3.9%. Hong Kong's Hang Seng was closed today for public holiday, regional indices were mostly higher except for Taiwan's TWSE at 6,066.59 (-0.25%); Singapore's STI at 2,355.02 (+0.50%); South Korea's KOSPI at 1,244.27 (+1.39%); Thailand's SET at 709.42 (+0.34%); Philippines' PCOMP at 1,964.22 (+0.76%); Indonesia's JCI at 1,105.629 (+0.26%).
At 5 pm, the KLCI lost 0.45 points to 928.43. Volume expanded to 389.52 mln shares valued at RM547.25 mln. Losers outpaced gainers 393 to 292, while 326 counters were unchanged and 407 untraded. The Emas Index dropped 0.02 points to 211.40, while the Second Board added 0.01 points to 87.48. The benchmark KLCI was higher in early trade on some buying of heavyweights and selected stocks but plantation stocks fell on profit taking activities. However at the end of the day, all key indices were closed unchanged. Among blue chips, both Tenaga at RM10.80 gained 10 sen, Telekom at RM10.20 was unchanged, while Malayan Banking closed at RM11.40 was 10 sen lower. Sunway Holdings Inc Warrants at 15.5 sen advanced 1 sen was the most active counter with 12.82 mln shares done.
Bank Negara has issued new rules that require banks to seek the central bank's endorsement of key management appointments, the Asian Wall Street Journal reported. Quoting unpublished guidelines issued last month to local and foreign owned banks, insurance companies and other financial institutions, the paper said that Bank Negara will have to vet all senior management appointments for the posts of deputy chief executive officer and chief financial officer.
Farlim Group said the Securities Commission (SC) has rejected its proposed debt settlement scheme and planned renounce-able 2-call rights issue of up to 52.8 mln shares on the basis 2 rights shares for every 5 existing shares held. The property developer said the rejection was due to the fact the proposed rights issue involves the capitalization of a 2nd call of 60 sen per Farlim share from share premium and revaluation reserves, which will result in an issue of securities that are not backed by assets. As at end December 2004, Farlim's share premium and revaluation reserves of RM29.6 mln and RM5.8 mln respectively, were deemed "exhausted" based on shareholders' funds of RM109.9 mln, compared to Farlim's share capital of RM120.0 mln. Farlim at 49 sen was unchanged.
Ranhill at RM1.02 was 8.5 sen higher, extending its gains from yesterday, after the company announced that its 60% owned PT Bumi Parahyangan Ranhill Energia Citarum has signed a crude oil and gas production sharing contract with Indonesia's Department of Energy and Mineral Resources. QSR Brands said its shareholders have voted against the removal of 9 directors of the company. As a result, the company said that there were 35.88% votes for the removal and 64.12% against the removal. QSR Brands at RM3.22 increased 4 sen. Modular Techcorp Holdings has received the Foreign Investment Committee's (FIC) approval to buy 70% of Blue-I Network for RM21.5 mln. The deal is now subject to the approval of shareholders. Modular Techcorp at 21 sen improved 0.5 sen.
Plantation stocks were lower on profit taking after rising sharply in the past week on expectations of higher crude palm oil prices. IOI Corp at RM12.80 (-20 sen); Kuala Lumpur Kepong at RM8.10 (-20 sen); PPB Oil Palms at RM4.92 (-2 sen); Golden Hope Plantations at RM4.16 (-4 sen). Among other highlights for today, Malaysia International Shipping Corp at RM9.55 (+10 sen); AsiaEP at 19 sen (-0.5 sen); Sime Engineering at 98 sen (+6.5 sen); NV Multi Corp at 46.5 sen (-0.5 sen); Far East Holdings at RM5.10 (+5 sen); MHC Plantations at RM1.33 (+3 sen); Hovid at RM2.17 (+25 sen); Carotech at 77.5 sen (unchanged); Kinsteel at RM1.15 (-7 sen); Malaysian Resources Corp at 70.5 sen (unchanged); Dijaya Corp at 82 sen (+11.5 sen); GHL Systems at 11 sen (-1 sen); Oilcorp at 84 sen (-16 sen); Scomi Group at RM1.21 (-1 sen); Global Soft MSC at 21 sen (+1 sen).
Japan's Nikkei 225-Average jumped at its fastest pace in a year on Tuesday, responding to extremely strong figures for machinery orders. The Nikkei 225-Average gained 2.49% to reach 13,556.71. The rise came despite overnight falls in US shares, which usually act as a dampener on the Japanese market. The 8.2% month-on-month rise in August machinery orders boosted optimism about the corporate sector. The machinery order figures pushed up steel stocks, which have been performing well so far this year in any case. The iron and steel sector increased 4.5%. In response to the news, even tech stocks closed up on the day, after losing some ground in the morning in reaction to poor overnight US tech stock performance. Electrical machinery rose by 0.9%, with precision machinery up 1.0%. The general sense of optimism helped ramp up banking stocks too, which have also done well this year, by 5.8%. Real estate stocks climbed 3.9%. Hong Kong's Hang Seng was closed today for public holiday, regional indices were mostly higher except for Taiwan's TWSE at 6,066.59 (-0.25%); Singapore's STI at 2,355.02 (+0.50%); South Korea's KOSPI at 1,244.27 (+1.39%); Thailand's SET at 709.42 (+0.34%); Philippines' PCOMP at 1,964.22 (+0.76%); Indonesia's JCI at 1,105.629 (+0.26%).
posted by emacro @ 5:08 AM
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