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Friday, May 14, 2010
Market Review
Tight range continues. The FBM KLCI inched up by 2.8 points to close at 1346.9 points. Volume remained lackluster at 905m shares. Regional bourses were mostly higher following overnight gains chalked up on Wall Street. In today’s news headlines, Bank Negara is reported to have raised the OPR by another 25 basis pts to 2.5%, Sime Darby to be hit by RM964m in cost overruns in its 2HFY10, Maybank reported a RM1.03bn net profit for the March quarter while Sunrise made RM23.5m and JT International RM37.8m. US stocks were lower overnight as the Dow fell 113 points although European bourses were mostly higher. We could see very tight range-bound trading today.
Friday, May 14, 2010
Market Review
Tight range continues. The FBM KLCI inched up by 2.8 points to close at 1346.9 points. Volume remained lackluster at 905m shares. Regional bourses were mostly higher following overnight gains chalked up on Wall Street. In today’s news headlines, Bank Negara is reported to have raised the OPR by another 25 basis pts to 2.5%, Sime Darby to be hit by RM964m in cost overruns in its 2HFY10, Maybank reported a RM1.03bn net profit for the March quarter while Sunrise made RM23.5m and JT International RM37.8m. US stocks were lower overnight as the Dow fell 113 points although European bourses were mostly higher. We could see very tight range-bound trading today.
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