20051024 Market Roundup JetFM
Bearish regional
At 5 pm, the Kuala Lumpur Composite Index (KLCI) dropped 4.88 points to 904.70. Volume expanded to 343.36 mln shares valued at RM769.78 mln. Losers outpaced gainers 461 to 208, while 300 counters were unchanged and 451 untraded. The Emas Index fell 0.96 points to 205.65, while the Second Board lost 0.14 points to 83.89. Share prices were lower, tracking last Friday's weaker close on the Dow Jones Industrial Average. Most investors were reluctant to take any heavy positions amid concerns about a slowdown in the domestic economy and a pick-up in inflation. Among blue chips, Tenaga at RM10.30 shed 20 sen, Telekom lost 15 sen to RM9.95, while Malayan Banking closed at RM11.30 was lower by 10 sen.
Penerbangan Malaysia, the parent of state carrier Malaysian Airline System (MAS), said on Monday it was aborting a planned bond sale due to documentation issues. Penerbangan said this month it wanted to raise USD1 bln through a bond sale. The statement announcing the cancellation of the sale gave no other details. MAS at RM3.02 fell 18 sen.
Parkson Retail Group Ltd, the China retail unit of Malaysia's Lion Diversified Holdings, is set for a listing hearing on Thursday with the Hong Kong bourse for an IPO worth as much as USD180 mln, sources familiar with the situation said on Monday. Lion Diversified plans to invest USD124 mln over the next 4 years to expand its flagship Parkson retail operations in China to be funded partly by the unit's listing. Lion Diversified at RM1.85 added 5 sen.
Proton Holdings slumped 45 sen to RM7.90, is carrying about 2 months worth of stock, or 30,000 cars, the Edge weekly magazine reported, citing unidentified analysts and vendors. Proton may have to make provisions that could hurt earnings if it doesn't sell the bulk of the vehicles by the end of the year.
Ramunia Holdings was slightly higher in early trade on a report that it has won a construction contract worth more than RM100 mln from Petronas Carigali. Ramunia ended the day unchanged at RM1.20
Among the banking stocks, Southern Bank at RM3.80 (+30 sen), the counter was most active with 18.14 mln shares done; Commerce Asset-Holdings at RM5.70 (-5 sen); CIMB at RM6.30 (unchanged); AMMB Holdings at RM2.32 (+4 sen); Public Bank at RM6.45 (unchanged); Hong Leong Bank at RM5.15 (-5 sen).
Among other highlights for today, Killinghall at RM2.59 (+58 sen); Malaysian Resources Corp at 66 sen(+2 sen); UDA Holdings at RM2.17 (-1 sen); Chin Foh at 85 sen (-2 sen); WCT Engineering at RM3.36 (+2 sen); Melewar Industrial Group at RM1.26 (+1 sen); Oilcorp at 70 sen (-4 sen); Key West Global Telecommunications at 38 sen (-3 sen); Sumatec Resources at 55.5 sen (-1 sen); PPB Oil Palms at RM4.90 (+4 sen).
Tokyo shares fell moderately on Monday, with some machinery stocks severely damaged by last Friday's grim earnings from Caterpillar in the US. Nikkei 225-Average ended trading down 0.71% at 13,106.18. The machinery sector fell 1.2%, dragged down by sharp falls in some equipment stocks in response to Caterpillar's disappointing results and gloomy outlook. Looking ahead, the company warned of higher raw material costs. Most domestically focused stocks put in a dull or moderately negative performance as the quarterly earnings season began. Although domestic stocks are up strongly on the year as international investors bet on the recovery of Japan's economy, their prices often fall back ahead of next batch of strong economic figures. The services sector fell 0.5%, with banking and retailing both down 0.4%. But the securities sector rose 0.6%.
Thailand's stock market was closed today for the Chulalongkorn Day holiday, the rest of the regional bourses all lost ground except for South Korea's KOSPI at 1,184.60 (+0.09%); Hong Kong's Hang Seng at 14,402.35 (-0.59%); Singapore's STI at 2,222.83 (-0.74%); Taiwan's TWSE at 5,717.28 (-0.37%); Philippines' PCOMP at 1,917.47 (-0.26%); Indonesia's JCI at 1,073.082 (-0.27%).
At 5 pm, the Kuala Lumpur Composite Index (KLCI) dropped 4.88 points to 904.70. Volume expanded to 343.36 mln shares valued at RM769.78 mln. Losers outpaced gainers 461 to 208, while 300 counters were unchanged and 451 untraded. The Emas Index fell 0.96 points to 205.65, while the Second Board lost 0.14 points to 83.89. Share prices were lower, tracking last Friday's weaker close on the Dow Jones Industrial Average. Most investors were reluctant to take any heavy positions amid concerns about a slowdown in the domestic economy and a pick-up in inflation. Among blue chips, Tenaga at RM10.30 shed 20 sen, Telekom lost 15 sen to RM9.95, while Malayan Banking closed at RM11.30 was lower by 10 sen.
Penerbangan Malaysia, the parent of state carrier Malaysian Airline System (MAS), said on Monday it was aborting a planned bond sale due to documentation issues. Penerbangan said this month it wanted to raise USD1 bln through a bond sale. The statement announcing the cancellation of the sale gave no other details. MAS at RM3.02 fell 18 sen.
Parkson Retail Group Ltd, the China retail unit of Malaysia's Lion Diversified Holdings, is set for a listing hearing on Thursday with the Hong Kong bourse for an IPO worth as much as USD180 mln, sources familiar with the situation said on Monday. Lion Diversified plans to invest USD124 mln over the next 4 years to expand its flagship Parkson retail operations in China to be funded partly by the unit's listing. Lion Diversified at RM1.85 added 5 sen.
Proton Holdings slumped 45 sen to RM7.90, is carrying about 2 months worth of stock, or 30,000 cars, the Edge weekly magazine reported, citing unidentified analysts and vendors. Proton may have to make provisions that could hurt earnings if it doesn't sell the bulk of the vehicles by the end of the year.
Ramunia Holdings was slightly higher in early trade on a report that it has won a construction contract worth more than RM100 mln from Petronas Carigali. Ramunia ended the day unchanged at RM1.20
Among the banking stocks, Southern Bank at RM3.80 (+30 sen), the counter was most active with 18.14 mln shares done; Commerce Asset-Holdings at RM5.70 (-5 sen); CIMB at RM6.30 (unchanged); AMMB Holdings at RM2.32 (+4 sen); Public Bank at RM6.45 (unchanged); Hong Leong Bank at RM5.15 (-5 sen).
Among other highlights for today, Killinghall at RM2.59 (+58 sen); Malaysian Resources Corp at 66 sen(+2 sen); UDA Holdings at RM2.17 (-1 sen); Chin Foh at 85 sen (-2 sen); WCT Engineering at RM3.36 (+2 sen); Melewar Industrial Group at RM1.26 (+1 sen); Oilcorp at 70 sen (-4 sen); Key West Global Telecommunications at 38 sen (-3 sen); Sumatec Resources at 55.5 sen (-1 sen); PPB Oil Palms at RM4.90 (+4 sen).
Tokyo shares fell moderately on Monday, with some machinery stocks severely damaged by last Friday's grim earnings from Caterpillar in the US. Nikkei 225-Average ended trading down 0.71% at 13,106.18. The machinery sector fell 1.2%, dragged down by sharp falls in some equipment stocks in response to Caterpillar's disappointing results and gloomy outlook. Looking ahead, the company warned of higher raw material costs. Most domestically focused stocks put in a dull or moderately negative performance as the quarterly earnings season began. Although domestic stocks are up strongly on the year as international investors bet on the recovery of Japan's economy, their prices often fall back ahead of next batch of strong economic figures. The services sector fell 0.5%, with banking and retailing both down 0.4%. But the securities sector rose 0.6%.
Thailand's stock market was closed today for the Chulalongkorn Day holiday, the rest of the regional bourses all lost ground except for South Korea's KOSPI at 1,184.60 (+0.09%); Hong Kong's Hang Seng at 14,402.35 (-0.59%); Singapore's STI at 2,222.83 (-0.74%); Taiwan's TWSE at 5,717.28 (-0.37%); Philippines' PCOMP at 1,917.47 (-0.26%); Indonesia's JCI at 1,073.082 (-0.27%).
posted by emacro @ 5:28 AM
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