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Wednesday, April 14, 2010
Market Review
Staying the course. The FBM KLCI closed 5.09 points lower after opening 1.24 points higher. Glove stocks took the brunt of the selling pressure, with share price declines averaging 4% yesterday, manifesting investor concerns on record high raw material costs and the appreciation of the RM against USD. Today’s corporate news include EPF allowing its conditional takeover offer for MRCB to lapse, CIMB receives Bursa approval for its dual listing in Thailand and KYM may venture into iron ore processing. With the Dow remaining above the important psychological 11,000 level, we expect the local bourse to remain firm today.
Wednesday, April 14, 2010
Market Review
Staying the course. The FBM KLCI closed 5.09 points lower after opening 1.24 points higher. Glove stocks took the brunt of the selling pressure, with share price declines averaging 4% yesterday, manifesting investor concerns on record high raw material costs and the appreciation of the RM against USD. Today’s corporate news include EPF allowing its conditional takeover offer for MRCB to lapse, CIMB receives Bursa approval for its dual listing in Thailand and KYM may venture into iron ore processing. With the Dow remaining above the important psychological 11,000 level, we expect the local bourse to remain firm today.
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