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The KLCI index has been replaced by the new FBMKLCI30. FTSE collaberated with Bursa to come out with the top 30 large stocks to represent the FBMKLCI30. The constituent of the index are:

No. Stock code – Stock Name – Company Name
1. 1015 – AMMB – AMMB Holdings Bhd
2. 1023 – COMMERZ – Bumiputra-Commerce Holdings
3. 1066 – RHBCAP – RHB Capital Bhd
4. 1155 – MAYBANK – Malayan Banking Bhd
5. 1295 – PBBANK – Public Bank Bhd
6. 1562 – BJTOTO – Berjaya Sports Toto Bhd
7. 1961 – IOICORP – IOI Corporation Bhd
8. 2194 – MMCCORP – MMC Corporation Bhd
9. 2267 – TANJONG – Tanjong Public Limited Company
10. 2445 – KLK – Kuala Lumpur Kepong Bhd
11. 3182 – GENTING – Genting Bhd
12. 3786 – MAS – Malaysian Airline System Bhd
13. 3816 – MISC – MISC Bhd
14. 4065 – PPB – PPB Group Bhd
15. 4162 – BAT – British American Tobacco (M)
16. 4197 – SIME – Sime Darby Bhd
17. 4588 – UMW – UMW Holdings Bhd
18. 4677 – YTL – YTL Corporation Bhd
19. 4715 – GENM – Genting Malaysia Bhd (previously Resorts World)
20. 4863 – TM – Telekom Malaysia Bhd
21. 5052 – PLUS – Plus Expressways Bhd
22. 5076 – ASTRO – Astro All Asia Networks PLC
23. 5347 – TENAGA – Tenaga Nasional Bhd
24. 5657 – PARKSON – Parkson Holdings Bhd
25. 5681 – PETDAG – Petronas Dagangan Bhd
26. 5819 – HLBANK – Hong Leong Bank Bhd
27. 6033 – PETGAS – Petronas Gas Bhd
28. 6742 – YTLPOWR – YTL Power International Bhd
29. 6888 – AXIATA – AXIATA Group Bhd (previously TM International)
30. 6947 – DIGI – Digi.com Bhd

The stocks constituent will be review every June and December of the year.

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For the first time this year, Bursa KLCI breached the psychological barrier of 1,000 points. It closed at 1,009.36 yesterday (4th May 2009).

As at 12.30pm today, it falls to 1,002.17 points.

Will it hold and move forward or will it falls below 1,000 today?

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Bursa Malaysia Bhd sees little trading disruption over its plan to trim down the KL Composite Index (KLCI) to 30 large and liquid stocks. The new primary index, called the FTSE Bursa Malaysia KLCI, will replace the existing one effective July 6.

The new market benchmark will adopt the outgoing KLCI closing value on July 3. This will ensure the KLCI price continuity since it was first introduced in 1986.

Bursa Malaysia chief executive officer Datuk Yusli Mohamed Yusoff said based on the exchange’s consultation with the industry, most index tracking fund managers were already focused on 25 to 30 counters that made up the KLCI.

“There would probably be some portfolio realigment by fund managers, but overall we see a smooth transition in the broader market,’’ he told a press conference yesterday.

FTSE Group Asia Pacific managing director Paul Hoff said based on the index company’s experience when introducing a new index elsewhere, there “would be some selling on affected stocks,’’ as index tracker funds adjusted their portfolio but the overall impact on the stock market was “minimal.”

The 30 constituents of the soon-to-be introduced FTSE Bursa Malaysia KLCI will be ranked primarily on share capital free float and will be similar to the existing FTSE Bursa Malaysia Large 30 index (FBM30).

It was observed yesterday that the top three companies on the KLCI were Sime Darby Bhd, Tenaga Nasional Bhd and Malayan Banking Bhd, while the top three companies ranked by free float were Public Bank Bhd, Sime Darby and Bumiputra-Commerce Holdings Bhd.

The top 30 companies represent 64% of the total market value, compared with 74% for the existing 100-strong KLCI.

Yusli said the six-month notice would provide adequate time for market players to make the necessary changes for the transition.

The new index nature of giving higher weightage to companies with higher number of shares available for trade as compared with size alone, he added, would also encourage public-listed companies, especially the bigger ones, to focus more on their existing capital structure.

“This will be an incentive for companies to increase their share capital free float,’’ Yusli said.

Exchange-traded products currently tracking the KLCI and FBM30 will move into the FTSE Bursa Malaysia KLCI. All KLCI futures and options contracts would also be subjected to changes in line with the transition of the underlying index, Bursa Malaysia said in a statement.

Bursa Malaysia engaged FTSE Group to develop a new set of Malaysian equity indices two years ago and the first set of modern indices was launched in June 2006.

Related Posts:

• FBMKLCI replaces KLCI
• FTSE Bursa Malaysia Index Series
• Bursa KLCI breached the 1,000 mark
• Bursa KLCI Below 803 Points!
• KLCI Goes Below 1,000 points !