The Dow drag. The FBM KLCI lost 4 points to 1330 yesterday, dragged down by Maybank, IOI Corp, AMMB, RHB Cap and Genting. Despite the weaker benchmark index, advancing stocks beat declining stocks by 336 to 295 while volume was thin at 691m shares. Today’s corporate news are Scomi Engineering sells to Sumitomo Corporation its business providing oil tubular goods machine shop services to the oil & gas industry for USD101.45m cash, MLabs acquires EPCC solutions provider Grand Inzio SB for RM79.6m and Western Digital to invest USD1.2bn in Malaysia over the next 5 years to expand R&D and manufacturing, Overnight, Wall Street again ended weaker with the Dow losing 115 points to 10,511 points while European bourses
finished higher. Crude oil closed below USD70 per barrel. These factors may continue to cap the upside in local stocks today.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
6 years ago