BURSA MALAYSIA (FRI, 04 JAN 2019)
MID-DAY LUNCH BREAK REVIEW
BRIEF MARKET REVIEW:
The FBM KLCI remained in negative territory at the mid-day break today, tracking regional equity markets. At mid-day, the FBM KLCI dipped 2.14 points to 1,673.69. The index had at mid-morning risen to a high of 1,676.55.
Losers led gainers by 362 to 302, while 326 counters traded unchanged. Volume was 1.14 billion shares valued at RM519.23 million.
Asia markets traded lower on Friday following sharp declines in U.S. stocks overnight as a dire quarterly warning from Apple stoked fears of a slowdown in the global economy.
Shares in Australia, Japan and South Korea all slipped in morning trade, with the Nikkei 225 in Tokyo dropping more than 3%.
In market action overnight on Wall Street, stocks sold off amid fears of a slowing global economy and weaker-than-expected reading on U.S. manufacturing.
STOCKS IN THE LIMELIGHT:
MALAYSIA AIRPORTS HOLDINGS BHD (RM8.12, -1.58%)
Malaysia Airports Holdings Bhd (MAHB) has clarified that it is not the authority that imposes the klia2 fee of RM3. The fee is charged and collected by AirAsia Group Bhd as part of its ticket price, stressed the state-owned airport operator.
In a statement today, MAHB said that it has received some media enquiries on the matter since the announcement made by AirAsia several days ago on their decision to stop charging and collecting the klia2 fee.
The stock closed at RM8.12 at mid-day on a high volume of 1.1 million shares traded.
UNITED MALACCA BHD (RM5.28, +1.54%)
United Malacca Bhd has entered into three agreements to dispose of several pieces of plantation land in Melaka and Negeri Sembilan with an aggregate land area of approximately 1,021.06 ha for RM175.15 million.
The cash proceeds from the proposed sales are expected to be utilised for the company’s plantation development expenditure for its other remaining estates in Malaysia and Indonesia, as well as for general working capital.
The stock closed mid-day at RM5.28, up 1.54%, with a low volume of 19,000 shares traded.
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