Lower on range bound trading. After trading range bound, FBM KLCI fell 4.07 pts to 1,304.16 pts as investors were generally cautious and reluctant to take heavy positions due to uncertainties over the Europe sovereign debt woes. Losers led gainers by 449 to 250 while 274 counters were unchanged, 405 untraded and 34 were suspended. Overnight, the DJIA sank 376.36 pts to 10,068.01 as reports cast doubts about the
strength of the economic recovery and European leaders struggled to contain the region’s debt crisis. As such we expect another selldown across the region today, taking the cue from worries surrounding the US market. Among today’s key highlights are Astro’s takeover has become unconditional, AirAsia to proceed with Thai listing but has yet to fix a firm timeline, Ranhill sells a 20% stake in Powertron II SB to Sabah Energy for RM73m and Allianz set its rights price at RM3.18. In the results announced yesterday, CIMB’s 1Q net profit rose 37% y-o-y to RM838.1, UMW’s profit doubles and Century’s profit jumped five-fold.
strength of the economic recovery and European leaders struggled to contain the region’s debt crisis. As such we expect another selldown across the region today, taking the cue from worries surrounding the US market. Among today’s key highlights are Astro’s takeover has become unconditional, AirAsia to proceed with Thai listing but has yet to fix a firm timeline, Ranhill sells a 20% stake in Powertron II SB to Sabah Energy for RM73m and Allianz set its rights price at RM3.18. In the results announced yesterday, CIMB’s 1Q net profit rose 37% y-o-y to RM838.1, UMW’s profit doubles and Century’s profit jumped five-fold.
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