More trouble in Europe. After initial morning weakness whereby the FBMKLCI fell to a low of 1324 pts, the benchmark index recovered to close at 1333 for a loss of 6 pts. Market breadth was negative with 472 losers against 236 gainers. The FKLI futures for April and May both traded at discounts of about 5 pts to the cash market. Asian markets closed significantly lower as the Eurozone debt crises continue to spread. European bourses continued to fall as Spain had its rating cut by S&P. The DAX and the CAC lost 1.2% and 1.5% respectively while the FTSE dipped by a gentler 0.3%. On the other hand, stocks on Wall Street rebounded, with the Dow gaining 53 points. This could spur some recovery in Malaysian stocks today. Today’s news headlines include 17 applicants qualifying to bid for the RM7bn LRT extension project, UEM Land Holdings
sells its 20% stake in Touch ‘N Go for RM33.4m cash, and Sunway Holdings buys 33.37 acres of leasehold land in Taman Equine, Selangor for RM37.8m.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago