Broader market firms up as Perisai climbs to early December high
KUALA LUMPUR: Malaysia’s broader market closed slightly firmer on Tuesday, with lower liners and small-capitalised oil and gas stocks accounting for a sizeable amount of activity while the FBM KLCI gave up all its early gains.
At 5pm, the FBM KLCI was down 0.46 of a point or 0.03% to 1,811.12. Turnover was 2.47 billion shares valued at RM2.29bil. There were 434 gainers, 373 losers and 324 counters unchanged.
Penny stock Perisai Petroleum was the most active on Tuesday with 202.49 million shares done as it climbed 10.5 sen to close at 63.5 sen – the highest since early December – on investors expectation the worst could be over for the small capitalised oil and gas-related counter.
The head of a foreign research house said market sentiment was better, especially oil and gas counters, as crude oil has already seen the bottom but the question remains is where is the upside.
As for the market, he said it would depend on the corporate earnings also, adding he expected a firm recovery towards the year-end.
He said crude oil must reach around US$70 to US$80 to spur a strong recovery in the O&G related stocks.
At 5pm, US light crude oil fell 81 cents to US$52.05 and Brent 76 cents lower at US$57.58.
TH Heavy rose five sen to 42 sen, Daya added one sen while KNM and Sumatec rose 0.5 sen each to 70 sen and 23 sen. SKPetro gained 10 sen to RM2.93 and Bumi Armada two sen to RM1.24.
However, Petronas related counters fell with Petronas Dagangan down 12 sen to RM18.68, Petronas Chemicals four sen to RM5.22 and Petronas Gas two sen lower at RM22.08.
Among the banks, Maybank added 10 sen to RM9.10 and pushed the KLCI up 1.62 points while AmBank gained five sen to RM6.43. However, RHB Capital fell 14 sen to RM8.16 and CIMB lost two sen to RM5.68.
Crude palm oil for third month delivery fell RM15 to RM2,302 on weaker exports. KL Kepong lost 30 sen to RM22.50, Genting Plantations 10 sen to RM10.40 PPB Group two sen lower at RM14.46. However, FGV added three sen to RM2.36.
Heaveaboard jumped 31 sen to RM2.50 and its warrants, Heavea-WB, gained 22 sen to RM1.74 following positive reports by a research house.
Declining oil prices to rebound in June, says Daim
KUALA LUMPUR: Growing demand from China, India and Africa is expected to lift crude oil prices to between US$65-US$70 per barrel this year with the rebound expected in June.
Former Finance Minister Tun Daim Zainuddin said however, crude oil prices will not return to US$100 per barrel as previously, and US$65 to US$70 will be good enough for this year. He told reporters this on the sidelines of the Affin Hwang Capital Conference Series 2015 on Tuesday.
According to Daim, the decline in oil prices is not anticipated to be long-term and Malaysia should be able to overcome the challenges related to the situation.
He said the current challenge is to make strategic policy decisions in the face of uncertainty and stress.
Small cap oil stocks climb in active trade, Perisai leads
At Bursa Malaysia, Perisai Petroleum rose 6.5 sen to 59.5 sen on expectations it could secure more projects. It was the most active. The stock had been hammered since late 2014 as crude oil price plunged from US$100 to below US$50 by end-December.
Ayoh...i bought at 43 n sold at 46....what a waste...check out Btech n Techfast guys...both gonna report their quarterly report at the end of this month..should b profitable...tightly held...made some corporate moves last year...im hoping it will start moving up soon...intraday high for Btech ia 37..n Techfast is 24.5....they might retest soon...good luck..but dont play contra...
operator sapu this range from 50c to 63c yesterday, u think they will throw now make huge loss? =.= ofcourse previously they also eat alot at 50c below. hehehe
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
simon84
7,147 posts
Posted by simon84 > 2015-02-10 22:11 | Report Abuse
Broader market firms up as Perisai climbs to early December high
KUALA LUMPUR: Malaysia’s broader market closed slightly firmer on Tuesday, with lower liners and small-capitalised oil and gas stocks accounting for a sizeable amount of activity while the FBM KLCI gave up all its early gains.
At 5pm, the FBM KLCI was down 0.46 of a point or 0.03% to 1,811.12. Turnover was 2.47 billion shares valued at RM2.29bil. There were 434 gainers, 373 losers and 324 counters unchanged.
Penny stock Perisai Petroleum was the most active on Tuesday with 202.49 million shares done as it climbed 10.5 sen to close at 63.5 sen – the highest since early December – on investors expectation the worst could be over for the small capitalised oil and gas-related counter.
The head of a foreign research house said market sentiment was better, especially oil and gas counters, as crude oil has already seen the bottom but the question remains is where is the upside.
As for the market, he said it would depend on the corporate earnings also, adding he expected a firm recovery towards the year-end.
He said crude oil must reach around US$70 to US$80 to spur a strong recovery in the O&G related stocks.
At 5pm, US light crude oil fell 81 cents to US$52.05 and Brent 76 cents lower at US$57.58.
TH Heavy rose five sen to 42 sen, Daya added one sen while KNM and Sumatec rose 0.5 sen each to 70 sen and 23 sen. SKPetro gained 10 sen to RM2.93 and Bumi Armada two sen to RM1.24.
However, Petronas related counters fell with Petronas Dagangan down 12 sen to RM18.68, Petronas Chemicals four sen to RM5.22 and Petronas Gas two sen lower at RM22.08.
Among the banks, Maybank added 10 sen to RM9.10 and pushed the KLCI up 1.62 points while AmBank gained five sen to RM6.43. However, RHB Capital fell 14 sen to RM8.16 and CIMB lost two sen to RM5.68.
Crude palm oil for third month delivery fell RM15 to RM2,302 on weaker exports. KL Kepong lost 30 sen to RM22.50, Genting Plantations 10 sen to RM10.40 PPB Group two sen lower at RM14.46. However, FGV added three sen to RM2.36.
Heaveaboard jumped 31 sen to RM2.50 and its warrants, Heavea-WB, gained 22 sen to RM1.74 following positive reports by a research house.
http://www.thestar.com.my/Business/Business-News/2015/02/10/Broader-market-firms-up-as-Perisai-climbs-to-early-December-high/?style=biz