20051019 Market Roundup JetFM
Bears on the Rampage Across Asia
At 5 pm, the Kuala Lumpur Composite Index (KLCI) shed 8.47 points to 914.17. Volume expanded to 511.02 mln shares valued at RM865.66 mln. Losers outpaced gainers 664 to 122, while 260 counters were unchanged and 373 untraded. The Emas Index edged off 2.14 points to 207.62, while the Second Board eased 1.09 points to 84.81. The Malaysian stock market was broadly lower on October 19, with declining counters hammering advancers nearly 6 to 1, reflecting the weaker Asian markets which were concerned about inflation. Among blue chips, Tenaga at RM10.50 fell 20 sen, Malayan Banking at RM11.50 dropped 10 sen, while Telekom at RM10.10 was unchanged. Tenaga will allocate RM1.2 bln next year in a move to enhance the maintenance of its asset, President and Chief Executive Officer Dato' Che Khalib Mohamad Noh said here Wednesday. He said that this move was needed to ensure that electricity supply could be channeled effectively, on time and is of quality. The expenditure was an increase of more than 30% from RM900 mln allocated for the financial year ended August 31, 2005.
The Consumer Price Index (CPI) for September 2005 rose by 3.4% to 109.8 from 106.2 in the same month of last year and was 0.1% higher when compared to 109.7 in the preceding month. On a cumulative basis, CPI from January to September 2005, increased by 2.9% to 108.6 from 105.5 in the same period last year, the Statistics Department said in a statement, here Wednesday.
WCT Engineering, which has a book order of RM1.6 bln, is targeting Indonesia, India and the Middle East to secure more contracts. WCT executive director Chua Siow Leng said the RM1.6 bln in contracts will keep it busy until December 2007 but it will also seek out overseas contracts as local ones were more difficult to secure due to dwindling projects. He added that the company is targeting Middle East countries like Bahrain, Oman and Kuwait. As for Malaysia, it will focus on Sabah and Sarawak where it expected the bulk of construction projects, under the proposed 9th Malaysia Plan. WCT at RM3.28 lost 4 sen.
Malaysian Airline System (MAS) has deferred indefinitely flights to new destinations in India and China as part of its efforts to contain cost and improve performance. It said the northern winter 2005 pattern, which takes effect from October 30, 2005 to March 26, 2006, MAS would consolidate its network by increasing frequencies and capacity to selected destinations while revisiting sectors that had demonstrated poor performance. Currently, MAS operates 30 weekly flights from Kuala Lumpur to seven Indian cities, New Delhi, Chennai, Mumbai, Bangalore, Kolkata, Ahmedabad and Hyderabad. MAS at RM3.22 was flat.
icapital.biz closed 1 sen higher at RM1.01 on its debut on the Main Board of Bursa Malaysia. Karambunai Corp Warrants at 1 sen was the most active counter today with 55.71 mln shares done. Among highlights for today, Commerce Asset Holdings at RM5.60 (unch.); AMMB at RM2.38 (-8 sen); Public Bank at RM6.55 (-15 sen); UMW at RM5.65 (+5 sen); DRB-Hicom at RM1.53 (-1 sen); MBM Resource at RM2.68 (-1 sen); REDtone at RM1.99 (-7 sen); Petaling Tin at 19.5 sen (-16 sen); IOI Corp at RM12.80 (-20 sen); Freight Management Holdings at 66.5 sen (-0.5 sen); mTouche Technology at RM1.93 (+3 sen); Green Packet at RM1.79 (-2 sen); Top Glove Corp at RM4.96 (-4 sen); PLUS Expressways at RM3.14 (+4 sen); Seal Polymer Ind. at RM1.19 (-1 sen); Southern Bank at RM3.44 (-4 sen).
The Nikkei 225-Average fell on Wednesday to a 4-week low, extending its losses almost across the board for the 6th straight day. It closed 1.67% lower at 13,129.49. Japanese stocks were hit by worrying news from the US. These included disappointing revenue forecast from Intel, the world's biggest chipmaker, which damaged semiconductor-related stocks. The biggest rise in US producer prices in 15 years also increased fears of a rise in US interest rates, hitting exporters. But most domestically focused sectors also suffered a battering, as investors worried about whether this year's strong rally in Japanese stocks has been overdone. Iron and steel stocks continued their recent volatility by dropping 2.5%, canceling out much of Tuesday's gain. Japanese steel stocks, which are still sharply up on their January levels, have been the subjects of considerable hedge fund interest this year. Transport equipment, which is heavily reliant on exports, slipped 1.5%. The domestically focused securities sector also lost 1.5%.
Bearish sentiment was seen throughout the whole region except of Philippines' PCOMP at 1,954.29 (+0.36%); Hong Kong's Hang Seng at 14,372.76 (-1.54%); Singapore's STI at 2,218.13 (-2.89%); South Korea's KOSPI at 1,153.13 (-2.79%); Taiwan's TWSE at 5,694.16 (-2.34%); Thailand's SET at 684.27 (-1.57%);Indonesia's JCI at 1,075.912 (-1.82%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) shed 8.47 points to 914.17. Volume expanded to 511.02 mln shares valued at RM865.66 mln. Losers outpaced gainers 664 to 122, while 260 counters were unchanged and 373 untraded. The Emas Index edged off 2.14 points to 207.62, while the Second Board eased 1.09 points to 84.81. The Malaysian stock market was broadly lower on October 19, with declining counters hammering advancers nearly 6 to 1, reflecting the weaker Asian markets which were concerned about inflation. Among blue chips, Tenaga at RM10.50 fell 20 sen, Malayan Banking at RM11.50 dropped 10 sen, while Telekom at RM10.10 was unchanged. Tenaga will allocate RM1.2 bln next year in a move to enhance the maintenance of its asset, President and Chief Executive Officer Dato' Che Khalib Mohamad Noh said here Wednesday. He said that this move was needed to ensure that electricity supply could be channeled effectively, on time and is of quality. The expenditure was an increase of more than 30% from RM900 mln allocated for the financial year ended August 31, 2005.
The Consumer Price Index (CPI) for September 2005 rose by 3.4% to 109.8 from 106.2 in the same month of last year and was 0.1% higher when compared to 109.7 in the preceding month. On a cumulative basis, CPI from January to September 2005, increased by 2.9% to 108.6 from 105.5 in the same period last year, the Statistics Department said in a statement, here Wednesday.
WCT Engineering, which has a book order of RM1.6 bln, is targeting Indonesia, India and the Middle East to secure more contracts. WCT executive director Chua Siow Leng said the RM1.6 bln in contracts will keep it busy until December 2007 but it will also seek out overseas contracts as local ones were more difficult to secure due to dwindling projects. He added that the company is targeting Middle East countries like Bahrain, Oman and Kuwait. As for Malaysia, it will focus on Sabah and Sarawak where it expected the bulk of construction projects, under the proposed 9th Malaysia Plan. WCT at RM3.28 lost 4 sen.
Malaysian Airline System (MAS) has deferred indefinitely flights to new destinations in India and China as part of its efforts to contain cost and improve performance. It said the northern winter 2005 pattern, which takes effect from October 30, 2005 to March 26, 2006, MAS would consolidate its network by increasing frequencies and capacity to selected destinations while revisiting sectors that had demonstrated poor performance. Currently, MAS operates 30 weekly flights from Kuala Lumpur to seven Indian cities, New Delhi, Chennai, Mumbai, Bangalore, Kolkata, Ahmedabad and Hyderabad. MAS at RM3.22 was flat.
icapital.biz closed 1 sen higher at RM1.01 on its debut on the Main Board of Bursa Malaysia. Karambunai Corp Warrants at 1 sen was the most active counter today with 55.71 mln shares done. Among highlights for today, Commerce Asset Holdings at RM5.60 (unch.); AMMB at RM2.38 (-8 sen); Public Bank at RM6.55 (-15 sen); UMW at RM5.65 (+5 sen); DRB-Hicom at RM1.53 (-1 sen); MBM Resource at RM2.68 (-1 sen); REDtone at RM1.99 (-7 sen); Petaling Tin at 19.5 sen (-16 sen); IOI Corp at RM12.80 (-20 sen); Freight Management Holdings at 66.5 sen (-0.5 sen); mTouche Technology at RM1.93 (+3 sen); Green Packet at RM1.79 (-2 sen); Top Glove Corp at RM4.96 (-4 sen); PLUS Expressways at RM3.14 (+4 sen); Seal Polymer Ind. at RM1.19 (-1 sen); Southern Bank at RM3.44 (-4 sen).
The Nikkei 225-Average fell on Wednesday to a 4-week low, extending its losses almost across the board for the 6th straight day. It closed 1.67% lower at 13,129.49. Japanese stocks were hit by worrying news from the US. These included disappointing revenue forecast from Intel, the world's biggest chipmaker, which damaged semiconductor-related stocks. The biggest rise in US producer prices in 15 years also increased fears of a rise in US interest rates, hitting exporters. But most domestically focused sectors also suffered a battering, as investors worried about whether this year's strong rally in Japanese stocks has been overdone. Iron and steel stocks continued their recent volatility by dropping 2.5%, canceling out much of Tuesday's gain. Japanese steel stocks, which are still sharply up on their January levels, have been the subjects of considerable hedge fund interest this year. Transport equipment, which is heavily reliant on exports, slipped 1.5%. The domestically focused securities sector also lost 1.5%.
Bearish sentiment was seen throughout the whole region except of Philippines' PCOMP at 1,954.29 (+0.36%); Hong Kong's Hang Seng at 14,372.76 (-1.54%); Singapore's STI at 2,218.13 (-2.89%); South Korea's KOSPI at 1,153.13 (-2.79%); Taiwan's TWSE at 5,694.16 (-2.34%); Thailand's SET at 684.27 (-1.57%);Indonesia's JCI at 1,075.912 (-1.82%).
posted by emacro @ 6:57 AM
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