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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
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6 Stocks Making Waves: Water Deals, Solar Moves, and a Telco Retail Shake-Up

From  Gamuda’s 40-year water infrastructure win  to  CelcomDigi’s futuristic “Life” stores , these six companies made headlines on Bursa Malaysia today: Gamuda (KL:GAMUDA) Water infrastructure deal secured. Gamuda + PKNPk JV will develop and operate RM5 billion worth of water treatment and distribution systems in Northern Perak for  at least 40 years .  Bonus: Will supply water to Kerian Integrated Green Industrial Park and sell surplus to Penang. Kawan Renergy (KL:KENERGY) RM38.81 million contract awarded. Secured a project from Gas Malaysia Energy Advance to  build a gas turbine co-generation system  at FGV IFFCO’s Port Klang facility. Duration: 20 months | Payment: In stages by milestone. Tan Chong Motor (KL:TCHONG)  UMA alert triggered! Shares  spiked 44% intraday  to 83.5 sen — highest in nearly a year. Closed up 36% at 79 sen with  29.6M shares traded . YTD gain:  +92%  Bursa wants answers. Pekat Group (KL:PEKAT) Rai...
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Sector Update: Telco - Managing Headwinds

Maintain Neutral, Preference: Axiata Malaysia telco sector Muted outlook   4Q15 results were mixed – mobile players struggled while it was more business-as-usual for fixed-line players. 2016 guidance was unanimously muted, and we have lowered FY16/17 net profit forecasts across the board. We now have HOLD ratings on all our stocks. On a relative basis, our preference is for Axiata (HOLD, TP: MYR6.10).  4Q15: Mobile struggled; routine for fixed 4Q15 proved to be another challenging quarter for the mobile players, with net profit of the Big 3 all below expectations. The Big 3 again posted sequential service revenue decline (-0.7% QoQ), which meant fullyear service revenue of the Big 3 declined for a second consecutive year (-1.0% YoY). Net profit was further depressed by higher-than-expected depreciation, interest expense and taxes. Meanwhile, full-year results of fixed-line players (TM and TDC) were not as negative, with TM in line and TDC above expectations on f...
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