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Friday, April 2, 2010
Market Review
Rally continues. After days of consolidation, the FBM KLCI surged 9 points to end at 1329.84. Market breadth was positive, with 423 gainers against 316 losers. However, volume shrank to 807m shares. Key Asian indices such as the Nikkei and Hang Seng gained 1.4%. Today’s news headlines are Sunway Holdings receives an RM88m contract from KLCC Holdings to construct Phase 2 of Impiana KLCC, Tan Chong Motors gets exclusive rights to distribute Nissan vehicles in Laos, and UEM Land receives RM25m pursuant to a land sale to Crescendo Corporation. While there is little in terms of local news, the stronger overnight close on the Dow and more so the European bourses, which registered more than 1% gains, should keep the buoyant momentum going on the local bourse.
Friday, April 2, 2010
Market Review
Rally continues. After days of consolidation, the FBM KLCI surged 9 points to end at 1329.84. Market breadth was positive, with 423 gainers against 316 losers. However, volume shrank to 807m shares. Key Asian indices such as the Nikkei and Hang Seng gained 1.4%. Today’s news headlines are Sunway Holdings receives an RM88m contract from KLCC Holdings to construct Phase 2 of Impiana KLCC, Tan Chong Motors gets exclusive rights to distribute Nissan vehicles in Laos, and UEM Land receives RM25m pursuant to a land sale to Crescendo Corporation. While there is little in terms of local news, the stronger overnight close on the Dow and more so the European bourses, which registered more than 1% gains, should keep the buoyant momentum going on the local bourse.
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