KUALA LUMPUR: Key Asian markets fell in early trade on Thursday, Feb 4 after the weak close on Wall Street with Hong Kong opening down1.2% while at Bursa Malaysia, glove makers fell in thin trade.
At 10am, the FBM KLCI fell 0.96 of a point to 1,266.19. Turnover was 109 million shares valued at RM96 million. There were 120 gainers, 185 losers and 179 counters.
Hong Kong's Hang Seng Index opened 1.2% down at 20,477.55 while Japan's Nikkei 225 lost 0.58% to 10,344.26. The Shanghai Composite Index fell 0.72% to 2,982.02 while Singapore's Straits Times Index shed 0.65% to 2,746.93.
Light crude oil fell 18 cents to US$76.80 while US spot gold fell 13 sen to US$1,109.68.
Hwang DBS Vickers Research said as in its market outlook that as the benchmark FBM KLCI would probably tread inside a narrow range with a marginal negative bias today, investors would be more interested in looking out for individual share price actions.
"For a start, buying interest may return to EON Capital after its share price was sold down yesterday (-23 sen to RM6.83). This follows media reports, quoting sources, speculating that certain major shareholders would file a notice tomorrow for an EGM to appoint new independent board members.
"If that is the case, then the takeover offer of EON Capital (at an implied price of RM7.10 per share) by Hong Leong Bank - which was previously rejected by its existing board of directors - could be reinitiated," it said.
On corporate financial announcements, Bursa Malaysia is scheduled to release its 4Q results around noon time today. It said DiGi's latest quarterly report card came in within expectations.
MAHB fell the most, down 11 sen to RM4.16 while Tan Chong gave up eight sen to RM3.05, SunCity and KYM six sen lower at RM3.20 and RM1.22 while MPI gave up five sen to RM6.45.
Glove makers fell with Rubberex-WA down eight sen to RM1.76, Hartalega seven sen to RM7.33 and Top Glove four sen to RM11.42.
DiGi rose 20 sen to RM22.30 in thin trade while PPB added 10 sen to RM15.49. Latitude advanced 19 sen to RM2.52 and Bintulu Port 10 sen to RM6.35
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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