Extending losses. The FBM KLCI fell 0.4%, or 5.26 pts, to 1,308.76 as concerns over a slowing economy continued to weigh on investor sentiment. Losers outpaced gainers 413 to 206 while 238 counters were unchanged, 506 untraded and 25 suspended. Among the key market news are Genting Malaysia announcing a Related Party Transaction buying the UK casino businesses of its sister company Genting Singapore for RM1.7bn, gaming firms are slapped with 2% higher duties effective June 2010, Fortis launches a USD3.1bn counter bid for Parkway to prevent Khazanah from taking over, Faber told Bursa Malaysia it is unaware of a UEM plan to divest, Carotech defaults on RM213m worth of loan and Petronas’ FY3/10 net profit fell to RM40.3bn - nearly a quarter - on higher costs and lower oil prices. Overnight, the DJIA slid 41.49 pts to 9,732.53 as US manufacturing, employment and home sales pointed to slower growth in the second half of the year, just as government spending to stimulate the economy begins to wane. As such, we expect more tepid trading in the local bourse on the lack of fresh leads.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago