KLCI lags behind regional rebound, Sime lifts

In a filing with Bursa Malaysia yesterday, Sime Darby said SDE had on Feb 5 received a notice from the Dubai International Arbitration Centre (DIAC) that EMAS had submitted a request for arbitration against SDE which was filed on Jan 24, 2016. The amount that EMAS is seeking from the arbitration proceedings is AED41.04mil (about RM46.37mil).

KUALA LUMPUR: Blue chips managed to eke out slim gains on Thursday amid a cautious broader market on rising profit taking as investors became cautious over the uncertainties in the crude oil price.

At 5pm, the KLCI was up 0.67 point or 0.04% to 1,723.78 thanks to Sime Darby but the 30-stock index trailed all the key Asian markets. Turnover was 1.63 billion shares valued at RM1.94bil. There were 364 gainers, 437 losers and 407 counters unchanged.

The ringgit was mixed against the main currencies. It weakened against the US dollar and pound sterling but firmed up against the Singapore dollar and euro.

It slipped to 3.8898 to the greenback from 3.8723 while it was lower against the pound at 5,5032 from 5.5026. It was stronger against the Singapore dollar at 2.8526 from 2.8718 and firmer against the euro at 4.3831 from 4.3902.

Oil fell on Thursday as the International Energy Agency trimmed its forecast for demand growth and on signs that a producers' meeting this weekend will not yield a concrete plan to reduce oversupply, Reuters reported. US light crude fell nine cents to US$41.67 and Brent 10 cents lower at US$44.08.

Petronas Gas added 14 sen to RM22.10, Petronas Chemicals fell two sen to RM6.74, Petronas Dagangan unchanged at RM23.86. SK Petro flat at RM1.87.

Crude palm oil for third month delivery rose RM4 to RM2,663 per tonne. BLD Plantations fell 17 sen to RM8.53, PPB Group 16 sen to RM16.34, TAHPS 15 sen to RM6.43, KL Kepong 12 sen to RM23.88, IOI Corp three sen to RM4.50 but Sime Darby rose nine sen to RM7.99 and pushed the KLCI up nearly one point.

As for banks, RHB Cap rose five sen to RM6.10, Public Bank added four sen to RM19.20, CIMB three sen to RM4.92, Maybank and Hong Leong Bank were flat at RM9.15 and RM13.54, AmBank lost seven sen to RM4.50.

Among the KLCI stocks, MISC added seven sen to RM8.99, Tenaga four sen to RM14.40, Genting Bhd three sen to RM4.92. Howeverm UWM fell 17 sen to RM6.78.

PIE Industrial gave up part of its previous day's gains to fall 14 sen to RM13.46. SAM Engineering lost 31 sen to RM6 and Sarawak based cement company CMSB was down 22 sen to RM4.28.
Among the consumer stocks, BAT fell 46 sen to RM55.06 and F&N down 12 sen to RM20.16 but GAB continued to climb, up 18 sen to RM14.38. Poultry company Lay Hong rose 18 sen to RM9.29.

As for telcos, Telekom and Digi were flat at RM6.70 and RM4.75, Axiata shed one sen to RM5.88 but Maxis fell six sen to RM6.01.

Among the key regional markets,

Japan’s Nikkei 225 surged 3.23% to 16,911.05;

Hong Kong’s Hang Seng Index added 085% to 21,337.81;

CSI 300 rose 0.44% to 3,275.83;

Shanghai’s Composite Index added 0.51% to 3,082.36;

Shenzhen Composite advanced 1.02% to 1,982.45;

Hang Seng China Enterprise climbed 0.5% t6o 9,237.90;

Taiwan’s Taiex was up 0.18% to 8,667.71;

South Korea’s Kospi gained 1.75% to 2,015.93, and

Singapore’s Straits Times Index added 0.81% to 2,913.93.

Spot gold fell US$1.52 to US$1,240.95.
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