BURSA MALAYSIA (MON, 19 NOV 2018)
MID-DAY LUNCH BREAK REVIEW
BRIEF MARKET REVIEW:
The FBM KLCI fell 0.37% at the midday break today, dragged by losses including at Telekom Malaysia Bhd and Genting Bhd.
Stocks in Asia were trading in mixed territory Monday morning as investors remained cautious following fresh developments in the ongoing tensions between the United States and China. The Chinese markets, which have been closely watched due to the trade fight between Washington and Beijing, were mixed by the end of the morning session.
Competition between the U.S. and China over the Pacific was thrown into the spotlight at the Asia-Pacific Economic Cooperation summit in Papua New Guinea. U.S. Vice President Mike Pence listed U.S. differences with China, a day after he directly criticized its Belt and Road program, saying countries should not accept debt that compromised their sovereignty.
STOCKS IN THE LIMELIGHT:
MULPHA INTERNATIONAL (RM1.84, +5.75%)
Shares in MULPHA rose as much as RM1.84 mid-day after its plans to distribute to its shareholders up to 90.33m shares in Mudajaya Group Bhd, via a dividend-in-specie, representing approximately a 15.31% interest in Mudajaya, currently held by Mulpha International’s wholly owned subsidiary, Mulpha Infrastructure Holdings Sdn Bhd. MULPHA traded at 17K shares at mid-day.
TELEKOM MALAYSIA (RM2.26, -5.04%)
Shares in TM fall as low as RM2.24 mid-day after Datuk Bazlan Osman has resigned as acting group chief executive officer of TM with immediate effect and given notice of his intention to step down as executive director with effect from Feb 28, 2019. TM traded at a high volume of 8.5m shares at mid-day.
Malacca Securities Quantitative Trading and Analytics Division
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59200 Kuala Lumpur
TEL: 03-2201 2100 (General)