Trouble in Europe. The FBM KLCI lost 2 points to 1265 points yesterday, weighed down by Hong Leong Bank, AMMB, CIMB, MISC and Genting. Regional bourses were weaker, with the Hang Seng Index falling by 1.8% while European bourses lost 2%-3%
on concerns over the sovereign debt of a few EU nations. The Dow suffered a 268-point decline and is now at the 10,000-point mark. Today’s news headlines: Kwantas buys 1,360 hectares of oil palm estate in Sabah for RM83.8m, KNM’s MD in collaboration with 2 other parties offers to buy up the entire business and undertakings of the company at RM0.90 per share, MISC forms a JV company with Al-Hilal Shipping Agency to act as its exclusive shipping agent in the UAE, Zecon enters a JV to undertake oil & gas services and supplies business, while Mudajaya wins a RM241.3m job to design and construct Boulevard Plaza in Putrajaya. We expect the FBM KLCI to retest the critical support at 1256pts.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago