20051018 Market Roundup JetFM
Bursa dropped in range bound trade
At 5 pm, the Kuala Lumpur Composite Index (KLCI) fell 1.63 points to 922.64. Volume expanded to 367.07 mln shares valued at RM563.17 mln. Losers outpaced gainers 403 to 277, while 335 counters were unchanged and 403 untraded. The Emas Index dropped 0.29 points to 209.76, while the Second Board lost 0.28 points to 85.90. Share prices closed lower in range bound trade as most investors kept to the sidelines ahead of the 3rd quarter earnings report season. Among blue chips, Tenaga at RM10.70 and Telekom at RM10.10 were both unchanged, while Malayan Banking at RM11.60 was higher by 10 sen. Time dotCom at 61 sen advanced 5 sen with 13.47 mln shares done was the most active counter today. This was follow by Berjaya Group at 9.5 sen added 0.5 sen.
Sales in the manufacturing sector rose 16.8% or RM5.9 bln to RM41.0 bln in August this year compared with RM35.1 bln in the same month last year. The manufacturing sector posted an increase in sales value of 3.5% or RM1.4 bln as against RM39.6 bln reported in July this year. Vehicle sales in Malaysia rose for a 2nd month in September as carmakers such as UMW Holdings sold new models. Sales of passenger cars and commercial vehicles rose 15% last month to 50,391 units from 43,923 a year earlier, the Malaysian Automotive Association said today in a faxed statement. Sales surged 19% in August, the fastest in 5 months. Nominal sales values are however, not a good indicator of economic activities as they also reflect inflationary tendencies.
Titan Chemicals Corp will halve the interest it pays on outstanding debt it took out in January using a new USD710 mln loan arranged by Standard Chartered. Titan will reduce its cost of borrowing after its IPO in June and said it planned to cut debts relative to the value of its total assets. Titan at RM1.65 shed 1 sen.
Dominant Enterprise's entire capital will be transferred to the Main Board of Bursa Malaysia under the "Industrial Products" sector Thursday, a stock exchange circular said. The stock exchange said the company's additional 34.46 mln shares of 50 sen each, arising from a bonus issue will also be listed and quoted on Bursa Malaysia on the same day. Dominant at 50 sen was unchanged.
Scomi Marine offered to pay as much as USD31.6 mln to buy the 50.93% of PT Rig Tenders Indonesia that it does not yet own. The offer to buy 310.22 mln more shares followed Scomi Marine's purchase of 49.07% of the Indonesian company at IDR1,000 each from Chuan Hup Holdings Ltd, Scomi unit International Marine Services Pte Ltd said to Bisnis Indonesia. Scomi at RM1.18 fell 1 sen.
Proton Holdings was up 10 sen at RM8.65 ahead of the national auto policy announcement, reportedly due tomorrow, which is expected to be positive for the national carmaker. Pan Malaysia Corp said it bought back 1.2 mln of its shares at prices ranging from 48.5 sen to 49.5 sen each for a total of RM596,703 yesterday. Pan Malaysia at 47.5 sen decreased 0.5 sen.
Among highlights for today, Commerce Asset-Holding at RM5.60 (-5 sen); Petra Group at RM4.34 (unchanged); Redtone International at RM2.06 (-11 sen); Setron at 68 sen (+6.5 sen); Malaysian Merchant Marine at 55 sen (+1 sen); Wah Seong Corp at RM1.97 (unchanged); Farm's Best at RM1.01 (+6 sen); Bank Islam at RM1.39 (+4 sen); KKB Engineering at RM1.16 (unchanged); Tronoh Consolidated Malaysia at RM3.08 (+6 sen); Tractors Malaysia Holdings at RM3.52 (unchanged); Supermax Corp at RM3.74 (+2 sen).
Tokyo shares fell on Tuesday for the 5th straight day, their longest losing streak since May, led by losses in technology stocks and weakness in domestic-focused sectors such as services and retailing. The Nikkei 225-Average closed down 0.36% at 13,352.24. Some tech stocks declined on continuing nervousness ahead of earnings reports from big US tech companies such as Yahoo and Intel. Warehouse stocks also fell after extremely strong rises in recent days. Although the Nikkei has fallen for a full trading week, the cumulative effect has been a muted 3.3% slide. The banking sector rebounded after being hit by profit taking earlier this week. The iron and steel sector, another recent victim of profit taking after a stellar performance this year, also rebounded, rising 4.9%. Japanese steel stocks have been rewarded for high dividend payments and their production of high-quality products. Regional market were mixed, Hong Kong's Hang Seng at 14,597.40 (+0.39%); Singapore's STI at 2,284.16 (-0.19%); South Korea's KOSPI at 1,186.22 (+0.84%); Taiwan's TWSE at 5,830.79 (+0.08%); Thailand's SET at 695.66 (-0.09%); Philippines' PCOMP at 1,947.33 (-0.01%); Indonesia's JCI at 1,095.873 (+0.53%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) fell 1.63 points to 922.64. Volume expanded to 367.07 mln shares valued at RM563.17 mln. Losers outpaced gainers 403 to 277, while 335 counters were unchanged and 403 untraded. The Emas Index dropped 0.29 points to 209.76, while the Second Board lost 0.28 points to 85.90. Share prices closed lower in range bound trade as most investors kept to the sidelines ahead of the 3rd quarter earnings report season. Among blue chips, Tenaga at RM10.70 and Telekom at RM10.10 were both unchanged, while Malayan Banking at RM11.60 was higher by 10 sen. Time dotCom at 61 sen advanced 5 sen with 13.47 mln shares done was the most active counter today. This was follow by Berjaya Group at 9.5 sen added 0.5 sen.
Sales in the manufacturing sector rose 16.8% or RM5.9 bln to RM41.0 bln in August this year compared with RM35.1 bln in the same month last year. The manufacturing sector posted an increase in sales value of 3.5% or RM1.4 bln as against RM39.6 bln reported in July this year. Vehicle sales in Malaysia rose for a 2nd month in September as carmakers such as UMW Holdings sold new models. Sales of passenger cars and commercial vehicles rose 15% last month to 50,391 units from 43,923 a year earlier, the Malaysian Automotive Association said today in a faxed statement. Sales surged 19% in August, the fastest in 5 months. Nominal sales values are however, not a good indicator of economic activities as they also reflect inflationary tendencies.
Titan Chemicals Corp will halve the interest it pays on outstanding debt it took out in January using a new USD710 mln loan arranged by Standard Chartered. Titan will reduce its cost of borrowing after its IPO in June and said it planned to cut debts relative to the value of its total assets. Titan at RM1.65 shed 1 sen.
Dominant Enterprise's entire capital will be transferred to the Main Board of Bursa Malaysia under the "Industrial Products" sector Thursday, a stock exchange circular said. The stock exchange said the company's additional 34.46 mln shares of 50 sen each, arising from a bonus issue will also be listed and quoted on Bursa Malaysia on the same day. Dominant at 50 sen was unchanged.
Scomi Marine offered to pay as much as USD31.6 mln to buy the 50.93% of PT Rig Tenders Indonesia that it does not yet own. The offer to buy 310.22 mln more shares followed Scomi Marine's purchase of 49.07% of the Indonesian company at IDR1,000 each from Chuan Hup Holdings Ltd, Scomi unit International Marine Services Pte Ltd said to Bisnis Indonesia. Scomi at RM1.18 fell 1 sen.
Proton Holdings was up 10 sen at RM8.65 ahead of the national auto policy announcement, reportedly due tomorrow, which is expected to be positive for the national carmaker. Pan Malaysia Corp said it bought back 1.2 mln of its shares at prices ranging from 48.5 sen to 49.5 sen each for a total of RM596,703 yesterday. Pan Malaysia at 47.5 sen decreased 0.5 sen.
Among highlights for today, Commerce Asset-Holding at RM5.60 (-5 sen); Petra Group at RM4.34 (unchanged); Redtone International at RM2.06 (-11 sen); Setron at 68 sen (+6.5 sen); Malaysian Merchant Marine at 55 sen (+1 sen); Wah Seong Corp at RM1.97 (unchanged); Farm's Best at RM1.01 (+6 sen); Bank Islam at RM1.39 (+4 sen); KKB Engineering at RM1.16 (unchanged); Tronoh Consolidated Malaysia at RM3.08 (+6 sen); Tractors Malaysia Holdings at RM3.52 (unchanged); Supermax Corp at RM3.74 (+2 sen).
Tokyo shares fell on Tuesday for the 5th straight day, their longest losing streak since May, led by losses in technology stocks and weakness in domestic-focused sectors such as services and retailing. The Nikkei 225-Average closed down 0.36% at 13,352.24. Some tech stocks declined on continuing nervousness ahead of earnings reports from big US tech companies such as Yahoo and Intel. Warehouse stocks also fell after extremely strong rises in recent days. Although the Nikkei has fallen for a full trading week, the cumulative effect has been a muted 3.3% slide. The banking sector rebounded after being hit by profit taking earlier this week. The iron and steel sector, another recent victim of profit taking after a stellar performance this year, also rebounded, rising 4.9%. Japanese steel stocks have been rewarded for high dividend payments and their production of high-quality products. Regional market were mixed, Hong Kong's Hang Seng at 14,597.40 (+0.39%); Singapore's STI at 2,284.16 (-0.19%); South Korea's KOSPI at 1,186.22 (+0.84%); Taiwan's TWSE at 5,830.79 (+0.08%); Thailand's SET at 695.66 (-0.09%); Philippines' PCOMP at 1,947.33 (-0.01%); Indonesia's JCI at 1,095.873 (+0.53%).
posted by emacro @ 4:16 AM
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