17 March 2014 - BC Daily Trading Floor

by **Cals** Mon 17 Mar 2014, 12:23

Good day traders Cool

by **Cals** Mon 17 Mar 2014, 16:15

Midday Market KLCI reverses loss, but gains seen limited

Business & Markets 2014

Written by Surin Murugiah of theedgemalaysia.com

Monday, 17 March 2014 12:49

KUALA LUMPUR (Mar 17): The FBM KLCI reversed its earlier losses at the midday break, but gains were seen limited as Asian markets wobbled after Crimeans voted to break from Ukraine to join Russia elicited fresh warnings of sanctions from Western countries.

At 12.30pm, the FBM KLCI added 0.22% or 3.93 points to 1,809.05. The index had earlier fallen to its intra-morning low of 1,802.88.

But market breath remained bearish with losers leading gainers by 375 to 232, while 305 counters traded unchanged. Volume was 660.01 million shares valued at RM584.6 million.

The top gainers included Nestle, United Plantations, Tahps, Gamuda, Panasonic, Fima Corp, Hong Leong Capital, Lafarge Malaysia, Apollo and Takaful.

MAS was the most actively traded counter with 83.73 million shares done. The stock was flat at 24 sen.

The other actives included Wintoni, Flonic, XDL, HHH Corp, KNM, Metronic and MMSV.

The top losers included APM Automotive, Petronas Dagangan, UMW, Cahya Mata Sarawak, MAHB, HLFG, IJM Plantations and Asia File.

Hwang DBS Vickers Research said US equity indices fell another 0.3% to 0.4% at Friday’s close, while Asian markets saw jittery performance in most countries.

It said this was largely attributed to signs of a slowing Chinese economy as well as mounting Ukraine tensions, with warnings of sanctions against Moscow from the U.S. and EU.

The research house said the negative sentiment may trickle to our Malaysian bourse as well, with the FBM KLCI likely to tread towards its immediate support level of 1,800.

“Stocks that may see interest include:
(a) Boustead Heavy Industries, which secured a RM108m fabrication contract from Murphy Sarawak Oil;
(b) Perisai Petroleum, which had entered into a memorandum of agreement to acquire an anchor handling tug for US$7 million;
(c) Deleum Bhd, following a news report that it expects to post double digit growth in earnings for 2014 on the back of bids for RM700 million in local jobs; and
(d) Glomac Bhd, which had acquired six parcels of land for RM23 million to extend its Bandar Saujana Utama project,” it said.

Elsewhere, Asian shares took refuge near one-month lows as Western countries issued fresh warnings of more sanctions on Moscow after Crimea voted overwhelmingly to break from Ukraine to join Russia, as expected, according to Reuters.

Japan's Nikkei led the losses with a fall of 0.3 percent, sliding to one-month low while U.S. stock futures fell as much as 0.5 percent to three-week low at one point, it said.

by **Cals** Mon 17 Mar 2014, 17:14

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17 March 2014 - BC Daily Trading Floor

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