KUALA LUMPUR: Shares of CIMB and Genting dipped in early trade on Monday, Dec 21 but there was some mild buying interest in other counters on some portfolio adjustments. EON Cap rose after Hong Leong Bank announced plans to acquire a stake in the former.
At 10am, the FBM KLCI fell 0.78 of a point to 1,266.19. Turnover was 101.49 million shares valued at RM105.42 million.
Among key regional markets, Hong Kong's Hang Seng Index opened 0.3% lower at 21,123.03 but Japan's Nikkei 225 rose 0.62% and Shanghai's Composite Index added 0.17% to 3,119.12 and Singapore's Straits Times Index inched up 0.14% to 2,806.39.
Light crude oil rose two cents to US$73.38 while US spot gold added US$1.63 to US$1,114.82.
Hwang DBS Vickers Research said share prices on the Malaysian stock exchange will probably continue to lose ground, albeit just by a modest margin, when trading resumes after an extended weekend break.
Almost all the regional peers were in the red last Friday when our local bourse was closed, led by China shares listed in Hong Kong (-1.3%), Philippine (-1.0%) and India (-1.0%). The immediate support level for the benchmark FBM KLCI is currently seen at 1,255.
"Meanwhile, amid a quiet trading environment, there could be increased interest in two banking counters today - Hong Leong Bank and EON Capital - following the announcement that Hong Leong Bank would be negotiating to acquire the assets / liabilities (including equity interests) in EON Capital," it said.
BHIC fell the most, down 13 sen to RM4.78 with 4,000 shares done. Heavyweight CIMB shed eight sen to RM12.94 and Genting six sen to RM7.17.
NSTP declined seven sen to RM1.79. Last Thursday, MEDIA PRIMA BHD [] said it had secured 77.52% stake or 168.403 million shares of NSTP and the revised offer has become unconditional.
EON Cap was the top gainer, adding 39 sen to RM6.97 with 1.12 million shares done. Hong Leong Financial Group advanced 10 sen to RM7.90.
DiGi rose 18 sen to RM21.60, Tanjong 14 sen to RM16.54 and KL Kepong 12 sen to RM16.20. Top Glove rose nine sen to RM9.71.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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