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Thursday, March 4, 2010
Market Review
Tight range. The FBM KLCI lost 2 points to close at 1286 on thin volume of 864m shares as regional bourses ended flat. Losers beat gainers by 402 to 294. Today’s news headlines are MRCB receiving a conditional take-over offer from EPF at RM1.50 cash per share, Star Publications enters into a JV to develop its Seksyen 13 Petaling Jaya land into 3 office towers and a residential tower block with GDV of RM370m, Pharmaniaga receives a Ministry of Health letter revoking the manufacturing licence of its subsidiary Pharmaniaga Manufacturing, and Melaka will introduce a tram system costing RM272m covering 40km from Ayer Keroh Toll Plaza to downtown. Without fresh leads, either domestically or from abroad, Malaysian stocks are likely to stay range bound today, with its near term upside capped at 1288.5 points.
Thursday, March 4, 2010
Market Review
Tight range. The FBM KLCI lost 2 points to close at 1286 on thin volume of 864m shares as regional bourses ended flat. Losers beat gainers by 402 to 294. Today’s news headlines are MRCB receiving a conditional take-over offer from EPF at RM1.50 cash per share, Star Publications enters into a JV to develop its Seksyen 13 Petaling Jaya land into 3 office towers and a residential tower block with GDV of RM370m, Pharmaniaga receives a Ministry of Health letter revoking the manufacturing licence of its subsidiary Pharmaniaga Manufacturing, and Melaka will introduce a tram system costing RM272m covering 40km from Ayer Keroh Toll Plaza to downtown. Without fresh leads, either domestically or from abroad, Malaysian stocks are likely to stay range bound today, with its near term upside capped at 1288.5 points.
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