20051020 Market Roundup JetFM
Lower again on lackluster sentiment
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 2.48 points to 911.69. Volume expanded to 352.97 mln shares valued at RM761.61 mln. Losers outpaced gainers 460 to 226, while 305 counters were unchanged and 429 untraded. The Emas Index dropped 0.58 points to 207.04, while the Second Board fell 0.24 points to 84.57. Share prices ended the day lower in quiet trade on worries over an economic slowdown after the Malaysian Institute of Economic Research (MIER) announced a cut in its 2005 Malaysian GDP growth forecast. MIER cut its GDP growth forecast for this year to 4.9% from 5.1% earlier, amid lingering uncertainties over crude oil prices and a still fragile recovery in the electronics sector. Among blue chips, Tenaga at RM10.50, Telekom at RM10.10 and Malayan Banking at RM11.50 were all unchanged.
ConnectCounty Holdings made a poor debut on the MESDAQ Market of Bursa Malaysia on October 20 by closing at 24 sen or 8 sen lower from its reference price of 32 sen. The most active counter today was Petaling Tin was up 1 sen at 20.5 sen with 18.48 mln shares done. The share shed 16sen yesterday.
BNP Paribas Arbitrage Hong Kong Ltd has emerged as a substantial shareholder in Foremost Holdings after it acquired a 6.5% stake in August, 2005. In a filing to the stock exchange on October 19, the company announced that BNP Paribas acquired the 3.42 mln shares in the open market. Foremost at 43 sen was unchanged.
Malaysian Airline System (MAS) has commenced litigation against its former executive chairman Tan Sri Tajudin Ramli, former vice-president of cargo Ralph Manfred Gotz and the company's ex-consultant Uwe Juergen Beck. MAS is claiming RM174,620,695 for "losses suffered from breach of duties" during Tajudin's tenure as executive chairman of the company. MAS at RM3.22 was flat.
Wijaya Baru Global has signed a letter of intent with Chongqing Zhan Xiang Properties Development Co Ltd Chongqing to take over the Chongqing International Building project for RM1.00. The purchase consideration of RM1.00 is subject to a due diligence to be carried out by Wijaya on the building to make sure that the total liabilities incurred in the construction of the building so far have not exceeded an approximate sum of CNY260 mln. Wijaya Baru Global at RM2.00 gained 2 sen.
AirAsia at RM1.50 (unchanged), was ranked alongside Singapore water treatment firm Hyflux, Philippine fast-food giant Jollibee and India's Satyam Computer are among Asia's best for companies with annual revenues under USD1 bln US Dollars, according to Forbes Asia magazine.
Among highlights for today, DRB-Hicom at RM1.52 (-1 sen); REDtone International at RM1.73 (-26 sen); UMW Holdings at RM5.80 (+15 sen); I-Bhd at RM1.08 (+3 sen); Unisem at RM1.41 (+2 sen); Octagon Consolidated at 78 sen (+7 sen); Mahajaya at 68.5 sen (unchanged); Tanjung Offshore at RM1.94 (unchanged); Amway Holdings at RM6.70 (+5 sen); Unisem at RM1.41 (+2 sen).
Japan bulls breathed a sigh of relief on Thursday as Tokyo stocks ended their 6-day losing streak on gains in domestically focused stocks. The Nikkei 225-Average finished trading up 0.46% at 13,190.46. Retailers, banks, real estate and services all rose by a little under 1.0%, as the Japanese market resumed this year's rally, prompted by increasing confidence about the economy. But the most spectacular increase among domestic stocks came from insurers, up 2.2% as investors became more positive about the sector's equity exposure. Export-oriented stocks performed poorly by comparison. Morning gains by tech stocks in response to the sharp overnight rise in US tech shares were pared by the close of afternoon trading. The auto sector slipped 1.1%, hit by profit taking after a strong month and a downbeat assessment of the global market at the Tokyo Motor Show by Carlos Ghosn, joint chief executive of Renault and Nissan.
Regional bourses were mostly higher other than Thailand's SET at 681.83 (-0.33%), Philippines' PCOMP at 1,944.62 (-0.49%) and Indonesia's JCI at 1,075.401 (-0.05%); Hong Kong's Hang Seng at 14,408.94 (+0.25%); Singapore's STI at 2,226.88 (+0.39%); South Korea's KOSPI at 1,162.23 (+0.79%); Taiwan's TWSE at 5,748.00 (+0.95%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) lost 2.48 points to 911.69. Volume expanded to 352.97 mln shares valued at RM761.61 mln. Losers outpaced gainers 460 to 226, while 305 counters were unchanged and 429 untraded. The Emas Index dropped 0.58 points to 207.04, while the Second Board fell 0.24 points to 84.57. Share prices ended the day lower in quiet trade on worries over an economic slowdown after the Malaysian Institute of Economic Research (MIER) announced a cut in its 2005 Malaysian GDP growth forecast. MIER cut its GDP growth forecast for this year to 4.9% from 5.1% earlier, amid lingering uncertainties over crude oil prices and a still fragile recovery in the electronics sector. Among blue chips, Tenaga at RM10.50, Telekom at RM10.10 and Malayan Banking at RM11.50 were all unchanged.
ConnectCounty Holdings made a poor debut on the MESDAQ Market of Bursa Malaysia on October 20 by closing at 24 sen or 8 sen lower from its reference price of 32 sen. The most active counter today was Petaling Tin was up 1 sen at 20.5 sen with 18.48 mln shares done. The share shed 16sen yesterday.
BNP Paribas Arbitrage Hong Kong Ltd has emerged as a substantial shareholder in Foremost Holdings after it acquired a 6.5% stake in August, 2005. In a filing to the stock exchange on October 19, the company announced that BNP Paribas acquired the 3.42 mln shares in the open market. Foremost at 43 sen was unchanged.
Malaysian Airline System (MAS) has commenced litigation against its former executive chairman Tan Sri Tajudin Ramli, former vice-president of cargo Ralph Manfred Gotz and the company's ex-consultant Uwe Juergen Beck. MAS is claiming RM174,620,695 for "losses suffered from breach of duties" during Tajudin's tenure as executive chairman of the company. MAS at RM3.22 was flat.
Wijaya Baru Global has signed a letter of intent with Chongqing Zhan Xiang Properties Development Co Ltd Chongqing to take over the Chongqing International Building project for RM1.00. The purchase consideration of RM1.00 is subject to a due diligence to be carried out by Wijaya on the building to make sure that the total liabilities incurred in the construction of the building so far have not exceeded an approximate sum of CNY260 mln. Wijaya Baru Global at RM2.00 gained 2 sen.
AirAsia at RM1.50 (unchanged), was ranked alongside Singapore water treatment firm Hyflux, Philippine fast-food giant Jollibee and India's Satyam Computer are among Asia's best for companies with annual revenues under USD1 bln US Dollars, according to Forbes Asia magazine.
Among highlights for today, DRB-Hicom at RM1.52 (-1 sen); REDtone International at RM1.73 (-26 sen); UMW Holdings at RM5.80 (+15 sen); I-Bhd at RM1.08 (+3 sen); Unisem at RM1.41 (+2 sen); Octagon Consolidated at 78 sen (+7 sen); Mahajaya at 68.5 sen (unchanged); Tanjung Offshore at RM1.94 (unchanged); Amway Holdings at RM6.70 (+5 sen); Unisem at RM1.41 (+2 sen).
Japan bulls breathed a sigh of relief on Thursday as Tokyo stocks ended their 6-day losing streak on gains in domestically focused stocks. The Nikkei 225-Average finished trading up 0.46% at 13,190.46. Retailers, banks, real estate and services all rose by a little under 1.0%, as the Japanese market resumed this year's rally, prompted by increasing confidence about the economy. But the most spectacular increase among domestic stocks came from insurers, up 2.2% as investors became more positive about the sector's equity exposure. Export-oriented stocks performed poorly by comparison. Morning gains by tech stocks in response to the sharp overnight rise in US tech shares were pared by the close of afternoon trading. The auto sector slipped 1.1%, hit by profit taking after a strong month and a downbeat assessment of the global market at the Tokyo Motor Show by Carlos Ghosn, joint chief executive of Renault and Nissan.
Regional bourses were mostly higher other than Thailand's SET at 681.83 (-0.33%), Philippines' PCOMP at 1,944.62 (-0.49%) and Indonesia's JCI at 1,075.401 (-0.05%); Hong Kong's Hang Seng at 14,408.94 (+0.25%); Singapore's STI at 2,226.88 (+0.39%); South Korea's KOSPI at 1,162.23 (+0.79%); Taiwan's TWSE at 5,748.00 (+0.95%).
posted by emacro @ 9:34 PM
0 comments
0 Comments:
Post a Comment
<< Home