Bargain hunting. The FBM KLCI closed 7.58 points higher at 1,307.2 points on the back of bargain hunting activities and optimism of stronger-than-expected corporate earnings in the upcoming 2QCY reporting season. Today’s corporate news include: Primus’ law suit against the board members and certain shareholders of EONCap has been fixed for 17 Aug, the Government will proceed with feasibility studies on the proposed MRT, Top Glove has agreed to an out of court settlement with Tillotson with regard to patent infringement, PLUS has proposed a lane extension on certain stretches of the North South expressway worth RM1.4bn, and Lion industries has entered into a JV for the extraction of metal. Overnight, the Dow Jones closed 0.6% higher after having declined by 7% over the past 2 weeks. A stronger than expected earnings reporting season could provide the catalyst for further market uptrend.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago