1304-pt resistance proves formidable. Malaysian stocks closed broadly higher yesterday with the FBM KLCI gaining 4.76 points to 1303 points. This was some 8 points off its highest level, proving the strength of the 1304 pt-resistance. Volume was still razor thin, casting doubts on the sustainability of yesterday's rally attempt. Today’s news headlines includes the potential sale by PNB and the Chao group of their majority stakes in Titan Chemicals, the Securities Commission obtains an injunction against Datuk Ishak Ismail from dealing with the RM10.2m proceeds from disposal of his Kenmark shares and MISC redesignates Datuk Nasarudin Md Idris as CEO. The Dow closed flat last night as did the European bourses as BP agreed to a USD20bn oil spill fund and cancelled dividends. Without a lift from these markets, local stocks could succumb to profit taking today.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago