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Tuesday, March 2, 2010
Market Review
Bouncing back. The FBM KLCI closed 12.62 points higher, mainly boosted by strong gains from CIMB and Axiata. Corporate news headlines are MISC disposing of a single hulled tanker for US$2.5m, Hong Leong Bank and Bank of Chengdu have received operational approval from China Banking Regulatory Commission to begin consumer finance operations in Western China, REDTone has obtained a licence to offer content application services in Malaysia, Ramunia has slipped into Practice Note 17 status and Proton has appointed Behara Ventakata Rama Subbu as a new member of its board of directors. We expect our market to take the positive cue from the Dow Jones’ overnight gain of 0.8%.
Tuesday, March 2, 2010
Market Review
Bouncing back. The FBM KLCI closed 12.62 points higher, mainly boosted by strong gains from CIMB and Axiata. Corporate news headlines are MISC disposing of a single hulled tanker for US$2.5m, Hong Leong Bank and Bank of Chengdu have received operational approval from China Banking Regulatory Commission to begin consumer finance operations in Western China, REDTone has obtained a licence to offer content application services in Malaysia, Ramunia has slipped into Practice Note 17 status and Proton has appointed Behara Ventakata Rama Subbu as a new member of its board of directors. We expect our market to take the positive cue from the Dow Jones’ overnight gain of 0.8%.
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