The Star Online: Business
The Star Online: Business |
- Selling pressure picks up on bank stocks
- Foreigners snap up RM952m of Malaysian equities in week ended Jan 18
- KLCI starts week in the red, Sime, Public Bank down
| Selling pressure picks up on bank stocks Posted: 20 Jan 2013 06:09 PM PST Published: Monday January 21, 2013 MYT 10:09:00 AMKUALA LUMPUR: Malaysia's FBM KLCI extended its decline on Monday as selling pick up pace with banks stocks including Public Bank and Hong Leong Bank among the major decliners. At 9.56am, the KLCI was down 12.17 points to 1,664.27. Turnover was 227.15 million shares done valued at RM163.56mil. There were 96 gainers, 296 losers and 199 counters unchanged. Maybank KE Research said the KLCI fell 6.26 points to close at 1,676.44 last Friday. The local market fell on consistent selling of selective blue chips like Telekom Malaysia and Sime Darby. "The weak support areas for the KLCI are in the 1,632 to 1,674 zone. The key resistance levels of 1,676 and 1,699 will see some heavy profit-taking activities," it said. Public Bank fell 28 sen to RM15.86 and its foreign shares 20 sen down to RM15.96. Hong Leong Bank lost 18 sen to RM14.50. Dividend stocks also fell, with BAT down 38 sen to RM59.52, Ducth Lady 34 sen to RM44.50 and Carlsberg 14 sen to RM12.20. |
| Foreigners snap up RM952m of Malaysian equities in week ended Jan 18 Posted: 20 Jan 2013 05:39 PM PST KUALA LUMPUR: Foreign investors bought net RM952.20mil of Malaysian equities in the week ended Jan 18, 2013, making it the sixth week in the row, according to MIDF Equity Research. It said on Monday that on a net basis, the RM952.20mil of Malaysian equities purchased by foreign investors in the open market was the highest in 27 weeks. Foreign funds remained net buyers on every trading day of the week. The buying streak has now extended to 18 consecutive trading days. Heavy buying was recorded on Monday, Tuesday and Thursday when net buying exceeded RM200mil. "For the year until last Friday, foreign investors have bought RM2.1bil of Malaysian equity. In 2012, they bought RM13.7b," said the research house. MIDF Research said foreign volume was relatively unchanged. The rate of participation (average daily gross purchase and sale) was RM820mil, which was still moderate (RM750mil to RM1bil). However, local investors continued to withdraw from the market and the rate of withdrawal accelerated again last week. The research house said retailers were net sellers for the seventh consecutive week, pulling out RM179.2mil. Participation rate was relatively unchanged at RM605mil and they were sellers throughout the entire week. As for local institutions, MIDF Research said they cleared aggressively again, off-loading net RM773.0mil last week, the highest since the second week of July 2012. The research house said daily average participation rate surged to RM1.77bil, the highest since September 2012, and 13% higher than the weekly average in 2012. For 2013, local institutions have so far sold net RM1.67bil. In 2012, local institutions sold, on net aggregate, net RM9.54bil of shares in the open market. |
| KLCI starts week in the red, Sime, Public Bank down Posted: 20 Jan 2013 05:26 PM PST KUALA LUMPUR: Malaysia's blue chips started the week on a cautious note on Monday with the FBM KLCI in the red, on some mild selling of Sime Darby and Public Bank. At 9.05am, the KLCI was down 4.08 points to 1,672.36. Turnover was 53.24 million shares valued at RM16.62mil. There were 78 gainers, 68 losers and 110 counters unchanged. SJ Securities Research, in its technical outlook for the KLCI, said the short term trend has turn bearish or down as the KLCI was now closing below the five, 10 and 20-day SMA, and the key index is likely to slide lower towards the 30-day SMA support at 1,668, which is an important short term support as of now. "A further break of this support level will see the FBM KLCI falling towards the critical medium term support zone of 1,652 to 1,647, and stronger buying support for key blue-chip stocks are expected at this level. "Nonetheless, the medium and long term uptrend still remained intact at the moment. For the coming week, blue-chips are likely to continue their correction and consolidation, while the second and third liners are likely to continue their rotational play," said SJ Securities Research. Dutch Lady fell the most, down 54 sen to RM44.30 with 900 shares done while BAT lost 10 sen to RM59.80 and Lysaght 36 sen to RM2. Among the banks, BIMB fell 13 sen to RM2.90, Public Bank 12 sen lower at RM16.02 and Public Bank foriegn six sen to RM16.10 but HLFG added eight sen to RM14.60 and RHB Cap four sen to RM7.96. Insurer Allianz shed seven sen to Rm7.48. Heavyweight Sime Darby lost five sen to RM9.34 and Genting Malaysia five sen to RM3.61. Petronas Dagangan gained 26 sen to RM23.26, UMW 10 sen to RM12.70 and IJM eight sen to RM5.08. |
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