Wednesday January 9, 2:33 PM
MARKET TALK/SG/KL: Nikkei Ends Down 0.3%
sg.biz.yahoo.com
1432 [Dow Jones] Nikkei ends range-bound trade down 0.3% at 10663.98 amid lingering caution toward ailing economy, financial sector; downside solid on short-covering in select technhttp://sg.biz.yahoo.com/020109/15/29wx0.htmlology and exporter blue chips. Nikkei expected to remain in mid-10000s for now as players await government's policy steps and watch movements on Wall Street. Broader Topix down 0.7% at 1025.01.(NXN)
1417 [Dow Jones] More positive signs for chip sector, with world's largest pure chip foundry TSMC saying December sales rose 6.1% on month, despite falling 36% on-year to NT$11.73 billion; suggests TSMC continuing to come out of 2001's severe downturn. January-December sales total NT$125.89 billion, down 24% from 2000.(DER)
1357 [Dow Jones] SINGAPORE STOCK CALL: No upside catalyst for ST Engineering (S63), given flat FY02 earnings forecast, says OCBC Research; but adds any downside in earnings likely limited by possible recovery in core aerospace unit's earnings; also notes ST Engineering's FY01 earnings growth would have been 16% instead of 22% if not for S$15 million tax writeback; keeps stock as Market Perform.(NIA)
1327 [Dow Jones] SINGAPORE TECHNICAL ANALYSIS: Daily charts suggest current weakness not over for ST Engineering (S63), and that shares are attempting to complete the head of a head-and-shoulders pattern, says Dow Jones analyst Abdul Hadhi. RSI shows stock is off recent overbought levels but Stochastics point to more downside, and MACD poised for negative break below signal line. Stock's neckline support is S$2.23. Shares down 9.8% at S$2.31.(AXH)
1252 [Dow Jones] MALAYSIA : KLCI up 0.9% to 698.58 midday on Nasdaq's gains and weakening Yen, which is good for company's with Yen-denominated debts. Local funds mildly active in Index heavyweights and retailers focusing on penny stocks. Trader expects accelerated interest in Index-linked issues from local funds to help KLCI test 700 in afternoon. Volume thin at 213 million shares valued at MYR342.2 million. Rises lead falls 555 to 142; 170 issues flat while 171 untraded. (VGB)
1246 [Dow Jones] MALAYSIA: Computer Forms Malaysia (8044) up 15.4% at MYR2.55; volume thin. Trader says syndicated play likely, as rise unlikely due to last announcement, which was made on December 28 and pertained to company's sale of loss making Chip Card. (VGB)
1235 [Dow Jones] SINGAPORE: STI down 1.3% at 1681.6 midday; bargain-hunting in banks and blue-chips helps STI get back above 1680 key support after hitting intraday low of 1676; dealer says sellers out in force taking profits on big purchases made last week; most active stock ST Engineering (S63) down 10% after giving flat FY02 earnings guidance; broader market weaker with 167 falls vs 72 rises with volume heavy at 429 million shares; STI likely to fall below 1680 support after lunch, dealer adds. (EYG)
1230 [Dow Jones] MALAYSIA: Eastern Oxygen (7013) shares up 3% at MYR2.04, extending its winning streak to 11 days. Trader says gains not due to news company received extension to June 6 to issue 24.79 million new ordinary shares to Bumiputera investors at MYR1.10/share; new share issue will depress share price and dilute earnings. Says punters pushing stock higher to make profitable exit before special issue completed.(VGB)
1224 [Dow Jones] SINGAPORE: Furniture maker Koda issues 15 million shares at 26 Singapore cents each; trader says stock's small float and small public tranche of 1.5 million shares, together with attractive historical P/E of 5.1X and NTA of 11.2 cents, should attract punters. IPO will close Jan 16, and shares to begin trading on Jan 18.(EYG)
1214 [Dow Jones] MALAYSIA: Second-board Transwater Corp (8915) shares up 13.1% at MYR1.98 despite lack of any new positive developments. Trader says gains likely supported by substantial shareholder to avoid margin call. Company announced last night EGM to be held on Jan 31 but announcement doesn't justify stock's rise, says trader. Notes only 1,000 shares traded.(VGB)
1156 [Dow Jones] SINGAPORE: Futures market moving lower, in tandem with fall in spot market; dealer says not surprising traders taking profit, considering January SiMSCI futures up 5% in one week; SiMSCI now down 1.9 points at 212.6 in brisk trade, with 1,157 contracts traded. January STI futures down 18 points at 1700 on volume of 7 contracts.(EYG)
1151 [Dow Jones] MALAYSIA: Menang Corp (1694) up 1.9% at 86 sen, warrants (1694WA) up 10.1% at 43.5 sen; trader says retailers accumulating stock in hope of making sharp gains as exhibited by stock on Jan 7. To query by KLSE, Menang replied late Monday that it's unaware of any reason for sharp rise in share price. Only major event to take place during period is placement of 14.2 million shares by major shareholder Titian Hartanah through broking firm to meet 25% shareholding spread requirement and to provoide liquidity for Titian group.(VGB)
1144 [Dow Jones] SINGAPORE: SIA (S55) down 1.6% at S$12.60 on profit-taking after 6 days of gains; some analysts still doubtful of airlines' business recovery despite recent flight additions to cater for increased demand; GK Goh Research says it doesn't expect demand for business travel to improve, based on data provided so far, and keeps sell on stock.(EYG)
1127 [Dow Jones] MALAYSIA: Kurnia Setia (5193) shares up 22.2% at 88 sen. Trader says investors punting on possibility company may undertake bonus and possibly rights issues to raise paid-up capital to KLSE's minimum requirement of MYR60 million for main-board insurance companies. Trader also doesn't discount possibility company may be takeover target. Volume traded more than 15X average over last 3 weeks at 303,000 shares.(VGB)
1124 [Dow Jones] SINGAPORE: ST Engineering (S63) down 8.6% at S$2.35; stock most active SGX counter, with 20.9 million shares traded; selling by traders and funds taking stock to lowest level since Dec 31; analyst says there's concern over ST Engineering's significant exposure to commercial aerospace, noting earnings visibility in aerospace sector still unclear after Sept 11 attacks.(EYG) |
