The Star Online: Business
The Star Online: Business |
- KLCI inches higher in early trade, Tenaga, SK Petro lift
- Malaysia-Market factors to watch on Oct 18(Thursday)
- Affin Research upgrades AMMB, ups target price to RM6.62
| KLCI inches higher in early trade, Tenaga, SK Petro lift Posted: 17 Oct 2012 06:21 PM PDT KUALA LUMPUR: Blue chips rose in early trade on Thursday, with Tenaga and SapuraKencana Petroleum among the major gainers, as investors' appetite for equities improved, as sentiment was underpinned by the more positive outlook from the US and Europe. At 9.05am, the FBM KLCI rose 0.76 of a point to 1,661.43. Turnover was 43.31 million shares valued at RM20.18mil. There were 75 gainers, 33 losers and 94 counters unchanged. Analysts said the optimism in the US and Europe could provide the impetus for the KLCI to retest its resistance of 1,668 and possibly extend its all-time high. Tenaga added five sen to RM6.99 while SKPetro gainsed three sen to RM2.47 after its secured a contract extension. BAT was the top gainer, up 50 sen to RM64 with 200 shares done. Among plantations, United Plantations added 46 sen to RM25.30 with 100 shares transacted, PPB Group rose eight sen to RM12.28. However, SOP fell nine sen to RM6, FGV three sen to RM4.71 and IOI Corp two sen to RM5.05 TH Heavy, Benalec, UMW and Axiata rose three sen each to 53 sen, RM1.39, RM9.96 and RM6.54 respectively. Maybank snapped its recent rally, easing six sen to RM9.22 on profit taking. |
| Malaysia-Market factors to watch on Oct 18(Thursday) Posted: 17 Oct 2012 06:19 PM PDT KUALA LUMPUR: Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market. GLOBAL MARKETS-Asian shares rise after US data, China GDP in focus SE Asia Stocks-Philippine at week high; Thai surprise rate cut lifts property WHAT IS HAPPENING IN MALAYSIA, IN TIMES LOCAL FOLLOWED BY GMT: * Dewan Rakyat sitting at 1000am (0200). * Iskandar Investment Group and Mah Sing Group sign lease purchase agreement, JW Marriott Hotel, Jalan Bukit Bintang, at 1030am (0230). * Information, Communications and Culture Minister Datuk Seri Dr Rais Yatim launches "u-Pustaka" programme at Sultan Abdul Samad Complex main entrance, Kuala Lumpur at 1130am (0330). * Deputy Prime Minister Tan Sri Muhyiddin Yassin attends a special meeting with students of Institute of Teacher Education (IPG) and hands over Siswa 1Malaysia discount cards at the IPG Islamic Education Campus in Bangi at 0300pm (0700) MARKET NEWS > Nikkei rises, set for third day of gains on softer yen > S&P 500 gets housing lift, but IBM reins in the Dow > Prices fall on improved homes data, reduced Spain fears > Euro & AUD rally pauses ahead of China data rush > Gold flat as investors eye China data, euro zone > Brent crude, U.S. gasoline fall on inventory gains > Palm oil prices climb, but high stocks cap gains MALAYSIA IN THE NEWS: > Operator of Malaysia's busiest port plans $500 mln IPO in 2013-sources > PREVIEW-Malaysia's Sept inflation seen steady at 1.4 percent y/y > UPDATE 1-Asia Rubber-China, tyre makers buy as prices slip > BASIS POINT-Forbes Bumi Armada take-out oversubscribed > Exxon to buy Canada's Celtic Exploration for C$2.6 bln - Reuters VEGOILS-Market factors to watch Oct 18 Thursday KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday. FUNDAMENTALS * Malaysian palm oil futures ended higher in rangebound trade on Wednesday, as rising exports offset analyst expectations that the market will fall further on high stocks. * U.S. soybean futures rose for a second consecutive day on Thursday, driven by bargain hunting after prices slid to their lowest since late June earlier this week. * Brent crude prices fell on Wednesday as rising U.S. crude oil and gasoline stockpiles kept tepid global demand for petroleum in focus, while a weaker dollar and worries about supply disruptions limited losses. MARKET NEWS * Asian shares rose to their highest in seven months on Thursday, buoyed by a surge in U.S. housing starts that has followed other positive economic data, helping to further ease worries about a slowdown in global growth. * Copper had its biggest gain in a month on Wednesday and grains markets rose too as the falling U.S. dollar provided more buying opportunity in commodities for users of the euro. RELATED NEWS > Argentina to press on with WTO biodiesel complaint > EU biofuel rules are progress, not perfect-Commissioners > Monsanto suspends seed royalties in Brazil,fighting state court > China's 2012 corn output revised up, to expand 4.3 pct-CNGOIC DATA/EVENTS > Cargo surveyor Intertek Testing Services to issue Oct. 1-20 exports data on Saturday. Another cargo surveyor will issue data for same period on Monday. - Reuters |
| Affin Research upgrades AMMB, ups target price to RM6.62 Posted: 17 Oct 2012 06:08 PM PDT KUALA LUMPUR: Affin Investment Research has upgraded AMMB Holdings from reduce to Add and raised the target price from RM6.38 to RM6.62. It said on Thursday it lifted its price target from RM6.38 (based on a P/BV of 1.45 times on CY13 ROE of 14.5% and a BVPS of RM4.36) to RM6.62, equivalent to a P/BV multiple of 1.5 times on CY13 ROE of 15.2% and a slightly higher BVPS of RM4.40. "The upgrade is a result of our upward earnings revision ranging from +4.2% for FY13, +6.1% FY14 and +5.3% FY15, as we take into account potentially stronger earnings impact from non-interest income contribution, of which we have revised up by +8.0-16.0% for FY13-15," it said. Affin Research also said that the stock price have more or lessbottomed-out, as it is currently trading at FY03/14 P/BV multiple of 1.4 times. |
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