Tuesday, June 16, 2009

KLCI slips below 1,080, Maybank, DiGi weigh

UALA LUMPUR: Asian markets fell as sentiment took a hit from the overnight fall on Wall Street and a retreat in commodities, with the KL Composite Index recording its biggest losses in recent weeks.

At 10am, the KLCI had slipped below the 1,080 level. It fell 13.52 points to 1,077.65. Turnover was 353.46 million shares valued at RM348.88 million. Losers thumped gainers 462 to 56 while 93 stocks were unchanged.

The major decliners on Bursa Malaysia were BAT, SP Setia, PPB, DiGi and Maybank. Most of the top 10 active stocks were in the red.

Among key regional counters, the Nikkei 225 fell 1.95% to 9,844.28, the Shanghai Composite Index lost 0.32% to 2,780.64 and the Singapore Straits Times Index 1.14% lower at 2,290.17. The Hang Seng Index opened down 1.5% to 18,230.91.

Light crude oil was trading at US$70.06, down 56 cents.

HwangDBS Vickers Research said the KLCI could possibly slide towards its first support level of 1,070 as it expected sentiment across Asia to be hit by the overnight slump on Wall Street.

Major U.S. equity indices plunged between 2.1% and 2.4% at the closing bell as investors decided to cash out following a poor manufacturing report and a decline in commodity prices.

In a research note, it said since the local bourse’s performance yesterday, coming in as one of only two stock exchanges in the region that did not fall, this suggested profit-taking activities would likely catch up ahead.

However, it said Berjaya Sports Toto (a KLCI component stock) was expected to buck the downward trend after declaring total dividend payment in the form of cash (30 sen per share) and treasury shares (on a 1-for-14 basis or an indicative value of 35 sen per share) to its shareholders.

BAT fell 50 sen to RM44/50, SP Setia and AHealth 22 sen sen each to RM4.38 and RM1.38. Down 20 sen each were PPB, PetDag, DiGi and Maybank to RM11.30, RM7.95, RM21.70 and RM5.90 respectively.

KNM was the most active with 25 million shares done, shedding three sen to 95.5 sen and Perisai 0.5 sen to 65.5 sen. Scomi was unchanged at 76.5 sen.

Among the small cap property counters, UEM Land lost three sen to RM1.82, MRCB was unchanged at RM1.36, but Mulpha was down one sen to 61 sen and Tebrau 0.5 sen to 91.5 sen.

BToto rose 19 sen to RM5.15, Tanjong 10 sen to RM13.50 and Vastalux eight sen to 58 sen. Amway and MISC gained five sen each to RM7.15 and RM8.55.

Written by Joseph Chin
Tuesday, 16 June 2009 10:21


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