20051012 Market Roundup JetFM
KLCI unchanged with unsustainable gains
At 5 pm, the Kuala Lumpur Composite Index (KLCI) added 0.06 points to 928.49. Volume expanded to 412.63 mln shares valued at RM629.22 mln. Losers outpaced gainers 399 to 293, while 331 counters were unchanged and 394 untraded. The Emas Index dropped 0.19 points to 211.21, while the Second Board fell 0.22 points to 87.26. KLCI closed unchanged in range bound trade on a lack of leads. Some light bargain hunting in selected blue chips pushed the key index higher, but most investors were sidelined ahead of the release of 3rd quarter earnings. Among blue chips, Tenaga was down 10 sen to RM10.70, Malayan Banking at RM11.50 added 10 sen, while Telekom at RM10.20 was 10 sen lower.
PECD has secured a construction project in Sudan worth RM255.6 mln with Greater Nile Petroleum Operating Co Ltd. This project marks PECD's 2nd venture into Sudan. In addition, due to technical difficulties in disseminating the information, PECD requested a suspension on its stock today. The matter has been duly rectified and trading of its stock will resume on October 13, 2005. PECD was 7.5 sen higher at 59.5 sen before it was suspended.
Philip Morris Wednesday said it is cutting the prices of 20-stick packs of its premium Marlboro brand by 7.1%, and the cheaper L&M and Next brands by 12.7% for a limited period. The recommended retail selling prices of some of its products will be reduced across Peninsular Malaysia for a limited period, while stocks last, effective Wednesday, October 12, said Marlene Kaur, director of corporate affairs at Philip Morris, in an e-mail. Kaur declined to say if the price cuts will be extended to other Philip Morris products, including smaller cigarette packs. British America Tobacco at RM38.00 shed RM1.00, while JT International at RM4.14 declined 4 sen.
US fund The Capital Group Companies Inc has increased its stake in construction giant IJM Corp after acquiring 6.28 mln shares representing a 1.32% stake recently. Following the acquisitions, The Capital Group shareholding in IJM now stood at 38.59 mln indirect shares or 8.1% stake. In another filing Tronoh Consolidated also increased its shareholding to 19.8% or 94.33 mln shares after acquiring 3.3 mln shares or 0.69% direct stake in IJM on October 4. IJM closed 2 sen higher to RM4.82, while Tronoh at RM3.10 was unchanged.
Naim Indah Corp was up 2 sen at 23 sen in active trade, on speculation that the company may win a RM500 mln crude oil-and-gas contract. The counter was the most active with 34.65 mln shares done. E&O Property Development was lower as some investors liquidated their holdings in the property developer ahead of its de-listing. E&O Property was down 2 sen at 61.5 sen. Kejuruteraan Samudra Timur at RM2.11 added 1 sen said trading in its shares would be suspended on October 25 to facilitate a 2-for-1-share split.
Semiconductor stocks were broadly lower on profit taking after rising over the past 2 days on expectations of a recovery in the technology sector. Unisem at RM1.44 (-5 sen); AIC Corp at RM1.12 (-1 sen); Globetronics Technology at 31.5 (-2 sen). However, Malaysian Pacific Industries at RM11.00 advanced 20 sen. Among other highlights for today, DRB-Hicom at RM1.54 (-2 sen); Cygal at 28 sen (unchanged); Scicom MSC at 74 sen (-11.5 sen); Fiamma Holdings at 79 sen (-1 sen); Ranhill at RM1.05 (+3 sen); MISC at RM9.65 (+10 sen); PSC Industries at 85.5 sen (-3.5 sen); UEM World 58 sen (-0.5 sen); Bina Puri Holdings at 82 sen (+4 sen); Kosmo Technology Industrial at RM3.20 (-8 sen); Proton Holdings at RM8.50 (-15 sen); Edaran Otomobil National at RM3.46 (+2 sen).
Japanese stocks at last succumbed to profit taking on Wednesday afternoon, following the strongest rise in a year on Tuesday. The Nikkei 225-Average finished down 0.69% at 13,463.74. Steel stocks ended down on the day, after dipping in and out of positive territory on Wednesday following Tuesday's large rise. Banking stocks managed to end the day more or less flat, despite profit taking after Tuesday's gains. But some heavily domestic stocks continued to do well, as investors made plays on Japan's economic recovery and responded to positive assessments from influential securities houses. Real estate jumped 2.6%, continuing to benefit from a recent decision by UBS to raise its target price for a number of companies based on a strong demand for central Tokyo office space. Retailing rose 1.6%, boosted by some strong news for individual companies. Regional markets were mostly lower, Hong Kong's Hang Seng at 14,575.02 (-2.17%); Singapore's STI at 2,320.53 (-1.46%); South Korea's KOSPI at 1,217.06 (-2.19%); Taiwan's TWSE at 5,987.40 (-1.31%); Thailand's SET at 710.41 (+0.18%); Philippines' PCOMP at 1,958.26 (-0.30%); Indonesia's JCI at 1,102.98 (-0.24%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) added 0.06 points to 928.49. Volume expanded to 412.63 mln shares valued at RM629.22 mln. Losers outpaced gainers 399 to 293, while 331 counters were unchanged and 394 untraded. The Emas Index dropped 0.19 points to 211.21, while the Second Board fell 0.22 points to 87.26. KLCI closed unchanged in range bound trade on a lack of leads. Some light bargain hunting in selected blue chips pushed the key index higher, but most investors were sidelined ahead of the release of 3rd quarter earnings. Among blue chips, Tenaga was down 10 sen to RM10.70, Malayan Banking at RM11.50 added 10 sen, while Telekom at RM10.20 was 10 sen lower.
PECD has secured a construction project in Sudan worth RM255.6 mln with Greater Nile Petroleum Operating Co Ltd. This project marks PECD's 2nd venture into Sudan. In addition, due to technical difficulties in disseminating the information, PECD requested a suspension on its stock today. The matter has been duly rectified and trading of its stock will resume on October 13, 2005. PECD was 7.5 sen higher at 59.5 sen before it was suspended.
Philip Morris Wednesday said it is cutting the prices of 20-stick packs of its premium Marlboro brand by 7.1%, and the cheaper L&M and Next brands by 12.7% for a limited period. The recommended retail selling prices of some of its products will be reduced across Peninsular Malaysia for a limited period, while stocks last, effective Wednesday, October 12, said Marlene Kaur, director of corporate affairs at Philip Morris, in an e-mail. Kaur declined to say if the price cuts will be extended to other Philip Morris products, including smaller cigarette packs. British America Tobacco at RM38.00 shed RM1.00, while JT International at RM4.14 declined 4 sen.
US fund The Capital Group Companies Inc has increased its stake in construction giant IJM Corp after acquiring 6.28 mln shares representing a 1.32% stake recently. Following the acquisitions, The Capital Group shareholding in IJM now stood at 38.59 mln indirect shares or 8.1% stake. In another filing Tronoh Consolidated also increased its shareholding to 19.8% or 94.33 mln shares after acquiring 3.3 mln shares or 0.69% direct stake in IJM on October 4. IJM closed 2 sen higher to RM4.82, while Tronoh at RM3.10 was unchanged.
Naim Indah Corp was up 2 sen at 23 sen in active trade, on speculation that the company may win a RM500 mln crude oil-and-gas contract. The counter was the most active with 34.65 mln shares done. E&O Property Development was lower as some investors liquidated their holdings in the property developer ahead of its de-listing. E&O Property was down 2 sen at 61.5 sen. Kejuruteraan Samudra Timur at RM2.11 added 1 sen said trading in its shares would be suspended on October 25 to facilitate a 2-for-1-share split.
Semiconductor stocks were broadly lower on profit taking after rising over the past 2 days on expectations of a recovery in the technology sector. Unisem at RM1.44 (-5 sen); AIC Corp at RM1.12 (-1 sen); Globetronics Technology at 31.5 (-2 sen). However, Malaysian Pacific Industries at RM11.00 advanced 20 sen. Among other highlights for today, DRB-Hicom at RM1.54 (-2 sen); Cygal at 28 sen (unchanged); Scicom MSC at 74 sen (-11.5 sen); Fiamma Holdings at 79 sen (-1 sen); Ranhill at RM1.05 (+3 sen); MISC at RM9.65 (+10 sen); PSC Industries at 85.5 sen (-3.5 sen); UEM World 58 sen (-0.5 sen); Bina Puri Holdings at 82 sen (+4 sen); Kosmo Technology Industrial at RM3.20 (-8 sen); Proton Holdings at RM8.50 (-15 sen); Edaran Otomobil National at RM3.46 (+2 sen).
Japanese stocks at last succumbed to profit taking on Wednesday afternoon, following the strongest rise in a year on Tuesday. The Nikkei 225-Average finished down 0.69% at 13,463.74. Steel stocks ended down on the day, after dipping in and out of positive territory on Wednesday following Tuesday's large rise. Banking stocks managed to end the day more or less flat, despite profit taking after Tuesday's gains. But some heavily domestic stocks continued to do well, as investors made plays on Japan's economic recovery and responded to positive assessments from influential securities houses. Real estate jumped 2.6%, continuing to benefit from a recent decision by UBS to raise its target price for a number of companies based on a strong demand for central Tokyo office space. Retailing rose 1.6%, boosted by some strong news for individual companies. Regional markets were mostly lower, Hong Kong's Hang Seng at 14,575.02 (-2.17%); Singapore's STI at 2,320.53 (-1.46%); South Korea's KOSPI at 1,217.06 (-2.19%); Taiwan's TWSE at 5,987.40 (-1.31%); Thailand's SET at 710.41 (+0.18%); Philippines' PCOMP at 1,958.26 (-0.30%); Indonesia's JCI at 1,102.98 (-0.24%).
posted by emacro @ 5:21 AM
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