=MARKET BUZZ: KLCC Stapled Securities Falls, AMMB Holdings Rises on KLCI Rejig
KUALA LUMPUR (Dec 07) -- KLCC Stapled Securities down as much as 1.2% on its upcoming deletion from KLCI, now down 0.6% at MYR7.77; AMMB Holdings up 2.3% at MYR4.40 on entry into index. “We were surprised by the deletion of KLCC and addition of AMMB,” says CIMB Analyst Ivy Ng. “The removal of KLCC could be because it failed the liquidity screen.” Adds, there could be some rejigging of portfolios by funds and exchange traded funds that benchmark performance to KLCI to reflect changes in KLCI constituents. Keeps KLCI target at 1704 for end-2018 and 1674 for end-2019; index currently flat at 1683.34.
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