Sharply lower. The KLCI extended its losses by ending 23.56 points lower yesterday to 1,250.1 pts on the back of rising concerns over the European debt crisis and fears of a possible confrontation between North and South Korea. Market breadth was negative throughout the day, with heavyweight financials like Maybank, CIMB and Public Bank coming under heavy selling pressure. Today’s corporate headlines include Kencana
securing a RM52m contract for the construction of jackets for offshore platforms, Malaysia may take the EU renewable energy directive requirements for palm oil to the WTO and Cagamas plans to launch a sukuk programme of up to US$3bn. The global external uncertainty over the contagion impact of the European debt crisis coupled with jittery investor sentiment is likely to extend the market’s volatility. The Dow Jones industrials plunged below 10,000 to its lowest level of the year before last minute bargain hunting helped to prop it back above the crucial 10,000 point-level.
securing a RM52m contract for the construction of jackets for offshore platforms, Malaysia may take the EU renewable energy directive requirements for palm oil to the WTO and Cagamas plans to launch a sukuk programme of up to US$3bn. The global external uncertainty over the contagion impact of the European debt crisis coupled with jittery investor sentiment is likely to extend the market’s volatility. The Dow Jones industrials plunged below 10,000 to its lowest level of the year before last minute bargain hunting helped to prop it back above the crucial 10,000 point-level.
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