Malaysia Shares End +0.5%; 1655 Near-Term Cap

02 Oct 2012

Malaysian shares end up 0.5% at 1651.03, tracking gains in regional equities following improved manufacturing data from U.S. The broader market may rise further in the near term toward 1655, a local dealer says, though he cautions that much of the index's gain "will depend on developments in Europe and the widely anticipated Moody's review on Spain."   Market breadth ends positive at 369 gainers vs 293 losers, with a total volume of 800 million shares.  Among gainers, UEM Land Holdings Bhd (5148.KU) ends up 3.5% at MYR1.78, Genting Malaysia Bhd (4715.KU) rises 2.5% to MYR3.68 and PPB Group Bhd (4065.KU) adds 1.9% to MYR12.14.  Among losers, Sime Darby Bhd (4197.KU) ends down 0.6% at MYR9.74, Hong Leong Bank Bhd (5819.KU) dips 0.5% to MYR13.40 and IOI Corp. Bhd (1961.KU) falls 0.4% to MYR5.01.

Malaysia Shares May Rise; Test Of 1635 Eyed

28 Sep 2012

Malaysia shares may rise, tracking gains on Wall Street, following news of Spain's plan to cut its budget deficit; HwangDBS says local equities may ride on the back of possible quarter-end window dressing activity and Budget 2013 expectations.  "On the chart, the benchmark KLCI--following a three-day cumulative gain of 15.5 points--may challenge the immediate resistance line of 1635," the house adds.  The KLCI ended Thursday up 0.5% at 1627.84. Among stocks in focus, potential beneficiaries of Budget 2013 includes REITs if withholding taxes are lowered, while possible losers may be property developers if real property gains tax are raised and the gaming sector if there's a hike in gaming tax.

Malaysia Shares End +0.9%; Profit-Taking Tipped Friday

13 Sep 2012

Malaysian shares end up 0.9% at 1628.40, with financials and property developers leading the market's advance.  "Trading is still cautious amid limited local cues and as investors await the Fed statement later," says a local dealer.  He expects investors may book profits Friday, tipping immediate support at 1620. Market breadth ends positive at 403 gainers to 290 losers, with a total volume of 1.02 billion shares.  Among gainers,  CIMB Group Holdings Bhd (1023.KU) ends up 2.4% at MYR7.58,  Hong Leong Bank Bhd (5819.KU) rises 1.8% to MYR13.26 and  UEM Land Holdings Bhd (5148.KU) adds 3.1% to MYR1.69.  Among losers, PPB Group Bhd (4065.KU) ends down 2.9% at MYR12.04,  AirAsia Bhd (5099.KU) eases 2.3% to MYR2.95 and  MMC Corp. Bhd (2194.KU) dips 1.7% to MYR2.30.

Malaysia Shares May Consolidate;1650-1655 Band Tipped

04 Sep 2012

Malaysia shares may consolidate as investors reassess their positions in the absence of fresh leads after Wall Street was closed Monday for a holiday; but a positive bias may emerge as most European stocks rose Monday amid hopes for action from the ECB in the near term.   "The benchmark KLCI could pull away a bit further from the resistance-turned-support level of 1650 as it attempts to breach past its all-time high of 1,655.49 ahead," says HwangDBS.  The KLCI ended Monday up 0.5% at 1653.90. Among stocks in focus, Zelan (2283.KU), KUB Malaysia (6874.KU) and KKB Engineering (9466.KU) may see some price action after they announced separate contract wins.

Malaysia Shares May Consolidate; 1620 Floor - Apex

24 Aug 2012

Malaysia shares may consolidate after Wall Street ended Thursday in negative territory amid mounting doubts about the prospect of more stimulus from the Fed; analysts say the KLCI will likely succumb to pre-weekend profit-taking after trading sideways recently.  "We expect the KLCI to be negative Friday; the index has been in a sideways trend recently, being capped by the 1655 resistance level," says JF Apex Securities; it tips support at 1620.  The KLCI ended Thursday relatively flat at 1651.61. Kossan Rubber Industries (7153.KU) may be in focus after reporting lower-than-expected 1H results.

Malaysia Shares End +0.2%; Likely To Hug 1650

22 Aug 2012

Malaysia shares end up 0.2% at 1652.25 after hitting a record high of 1655.39 with all major sectors stading firm in positive territory; analysts say most technical indicators remain positive, buy it is crucial for the benchmark KLCI to remain above 1650 for longer-term gains.   "The KLCI will probably hug the 1650 support line in the near term without stronger buying cues but a slip below that would be a signal to take profit," says an analyst with a local brokerage.  Market breadth ends slightly positive at 392 gainers and 366 losers with total volume of 1.33 billion shares. Among gainers, Malayan Banking (1155.KU) finishes up 1.6% at MYR9.19, YTL Corp. (4677.KU) is up 1.1% at MYR1.88 and Tenaga Nasional (5347.KU) is up 0.6% at MYR6.84

Malaysia Shares End -0.1%; Downward Bias Next Week

27 Jul 2012

Malaysia shares end up 0.1% at 1624.94 after choppy trade, buoyed by gains in select consumer and financial stocks.     "The market is clearly having trouble generating enough momentum to test 1650....the index is headed for a drop next week given the rising number of sell signals," a local dealer says, tipping near-term support at 1615.  Market breadth is positive at 390 gainers to 354 losers, with a total volume of 922 million shares.  Among gainers,  British American Tobacco (Malaysia) Bhd (4162.KU) ends up 4.4% at MYR61.94,  Hong Leong Financial Group Bhd (1082.KU) adds 0.7% to MYR12.32 and  Nestle (Malaysia) Bhd (4707.KU) rises 1.1% to MYR60.36.  Among losers, Bumi Armada Bhd (5210.KU) ends down 2.5% at MYR3.86,  Maxis Bhd (6012.KU) eases 2.1% to MYR6.40 and YTL Power International Bhd (6742.KU) dips 1.7% to MYR1.79.

Malaysia Shares May Rise; Set To Test 1609

18 Jun 2012

Malaysia shares may rise on hopes that the eurozone can get on top of its sovereign debt woes following election results in Greece and France.  Dealers say a relief rally in the market will likely lift the benchmark KLCI to challenge resistance at 1609.  "We're seeing a positive turn across asset classes in Asia and this means that the market's risk-on mode is back again," says a dealer with a local bank.  The KLCI ended Friday up 0.5% at 1579.23. High beta stocks and index constituents such as CIMB Group (1023.KU) and Genting (3182.KU) will likely be in focus, thanks to foreign inflows.

Malaysia Shares Biased Down; 1555 Strong Support

08 Jun 2012

[Dow Jones]  Malaysia shares are biased down after a lackluster Wall Street performance Thursday as fading hopes for further monetary stimulus from the Fed offset PBOC's rate cut; the KLCI will likely hover around 1575 with strong support tipped at 1555.  The KLCI was up 0.4% at 1575.31 Thursday, its third consecutive session of gains.  Analysts say the sideways trading pattern will continue until clearer leads emerge and downside will likely persist in line with regional declines.