BURSA MALAYSIA (TUE, 13 NOV 2018)
MID-DAY LUNCH BREAK REVIEW
BRIEF MARKET REVIEW:
The FBM KLCI pared some of its loss and was down 0.36% at midday break today, tracking regional declines on the back of the Dow Jones Industrial Average falling by more than 600 points overnight.
Asian shares skidded on Tuesday, pressured by a tech rout on Wall Street and a slump in oil prices, while political risks in Europe buoyed the dollar as investors dumped riskier assets.
Fears of a likely peak in corporate earnings growth, softening global demand and faster rate hikes in the United States, have put global investors on edge over the past month, prompting them to take money off the table before year end.
STOCKS IN THE LIMELIGHT:
IOI CORP (RM4.35, -3.12%)
IOI Corp Bhd shares fell as low as RM4.24 this morning after the group posted a 60% decline in net profit for the first quarter ended Sept 30, 2018 (1QFY19) to RM143.8 million from RM360 million a year ago, on lower operating profit and a currency translation loss on foreign currency-denominated borrowings and deposits. The stock traded at a low volume of near to 1m shares at mid-day.
DIALOG (RM3.25, -2.11%)
Dialog Bhd shares fell as low as RM3.21 in active trade this morning, after its net profit for its first quarter ended Sept 30, 2018 (1QFY19) fell 29% to RM114.64 million from RM160.93 million a year ago, on the absence of fair value gain and lower revenue from its Malaysian operations. The stock traded at a high volume of 8.5m shares at mid-day.
Malacca Securities Quantitative Trading and Analytics Division
BO1-A-13A, Level 13A, Menara 2,
No.3, Jalan Bangsar, KL Eco City,
59200 Kuala Lumpur
TEL: 03-2201 2100 (General)