KUALA LUMPUR:'' The FBM KLCI slipped into negative territory in early trade on Friday, Jan 14 in line with the overall decline at key regional markets following the weaker overnight close at Wall Street.
At 10am, the FBM KLCI was down 1.54 points to 1,570.02, weighed by losses at including the Genting group, CIMB, Gamuda and BAT.
Gainers trailed losers by 239 to 282 while 235 counters traded unchanged. Volume was 503.13 million shares valued at RM396.28 million.
At the regional markets, Singapore's Straits Times Index fell 0.81% to 3,229.53, the Shanghai Composite Index lost 0.66% to 2,808.91, Japan's Nikkei 226 lost 0.29% to 10,558.93, South Korea's Kospi fell 0.24% to 2,084.51, Taiwan's Taiex shed 0.15% to 8,962.01 while Hong Kong's Hang Seng Index opened little changed at 24.257.21.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note Jan 14 said that due to the softer US markets last night, the FBM KLCI could be in a profit-taking mood today ahead of the weekend, with rotational buying in the mid-cap and lower liner stocks, beside blue-chip strength being trimmed by later cashing-in of intraday gains.
On Bursa Malaysia, BAT was the top loser at mid-morning and fell 32 sen to RM48.16; United PLANTATION []s fell 28 sen to RM16.52, Dutch Lady and S P Setia lost 16 sen each to RM17.44 and RM7.66, UEM Land down 12 sen to RM3.13, Sungei Bagan 11 sen to RM3.20, Allianz lost 10 sen to RM5.10, Shell and CBIP eight sen each to RM10.70 and RM4.17, Genting and Genting Malaysia down six sen each to RM11.92 and RM3.59, while CIMB and Gamuda lost two sen each to RM8.75 and RM4.11.
The top gainer was JT International which rose 20 sen to RM6.80; IJM added 17 sen to RM6.69, Tradewinds 13 sen to RM7.59, Nestle 12 sen to RM45.30, DFZ and Suria Capital up 11 sen each to RM3.65 and RM2.39, QSR and Mudajaya up 10 sen each to RM5.53 and RM5.30, while Faber added nine sen to RM2.28.
Wah Seong jumped 16 sen to RM2.42 as work on the RM550 million-Gorgon LNG coating contract takes off.
ECM Libra Research said with orderbook growth from increased capex spend over 2011, Wah Seong should be re-rated to +1 standard deviation PE of 18x which was seen in previous rally in 2007 and 2009.
'As such, we peg its FY11 EPS to the 18x PE target to derive our revised target price of RM2.70 (previously RM2.09),' it said.
Tebrau was the most actively traded counter with 26.99 million shares done. The stock added one sen to 95.5 sen. Other actives included JAKS, Ramunia, Borneo Oil, Ho Wah Genting, Karambunai, Pentamaster and Hubline.
At 10am, the FBM KLCI was down 1.54 points to 1,570.02, weighed by losses at including the Genting group, CIMB, Gamuda and BAT.
Gainers trailed losers by 239 to 282 while 235 counters traded unchanged. Volume was 503.13 million shares valued at RM396.28 million.
At the regional markets, Singapore's Straits Times Index fell 0.81% to 3,229.53, the Shanghai Composite Index lost 0.66% to 2,808.91, Japan's Nikkei 226 lost 0.29% to 10,558.93, South Korea's Kospi fell 0.24% to 2,084.51, Taiwan's Taiex shed 0.15% to 8,962.01 while Hong Kong's Hang Seng Index opened little changed at 24.257.21.
Maybank Investment Bank Bhd head of retail research and chief chartist Lee Cheng Hooi in a note Jan 14 said that due to the softer US markets last night, the FBM KLCI could be in a profit-taking mood today ahead of the weekend, with rotational buying in the mid-cap and lower liner stocks, beside blue-chip strength being trimmed by later cashing-in of intraday gains.
On Bursa Malaysia, BAT was the top loser at mid-morning and fell 32 sen to RM48.16; United PLANTATION []s fell 28 sen to RM16.52, Dutch Lady and S P Setia lost 16 sen each to RM17.44 and RM7.66, UEM Land down 12 sen to RM3.13, Sungei Bagan 11 sen to RM3.20, Allianz lost 10 sen to RM5.10, Shell and CBIP eight sen each to RM10.70 and RM4.17, Genting and Genting Malaysia down six sen each to RM11.92 and RM3.59, while CIMB and Gamuda lost two sen each to RM8.75 and RM4.11.
The top gainer was JT International which rose 20 sen to RM6.80; IJM added 17 sen to RM6.69, Tradewinds 13 sen to RM7.59, Nestle 12 sen to RM45.30, DFZ and Suria Capital up 11 sen each to RM3.65 and RM2.39, QSR and Mudajaya up 10 sen each to RM5.53 and RM5.30, while Faber added nine sen to RM2.28.
Wah Seong jumped 16 sen to RM2.42 as work on the RM550 million-Gorgon LNG coating contract takes off.
ECM Libra Research said with orderbook growth from increased capex spend over 2011, Wah Seong should be re-rated to +1 standard deviation PE of 18x which was seen in previous rally in 2007 and 2009.
'As such, we peg its FY11 EPS to the 18x PE target to derive our revised target price of RM2.70 (previously RM2.09),' it said.
Tebrau was the most actively traded counter with 26.99 million shares done. The stock added one sen to 95.5 sen. Other actives included JAKS, Ramunia, Borneo Oil, Ho Wah Genting, Karambunai, Pentamaster and Hubline.
No comments:
Post a Comment