Below 1300. The FBM KLCI held up well in the morning session only to succumb to some selling pressure in the afternoon. Overall market breadth was negative, with the number of losers beating gainers almost 2-to-1. Some of the major corporate headlines today are: (i) Carrefour’s operations in Malaysia, Singapore and Thailand are reportedly up for sale for USD1bn; (ii) Mah Sing in a land deal to develop a piece of land in Kinrara, Selangor and (iii) Naim bags a RM40m jetty contract in Tanjung Manis, Sarawak. US markets were closed yesterday for Independence Day but European markets fell on renewed concerns over the Europenan financial crisis. We expect investors to remain on the sidelines in search of fresh leads, with the market likely to extend its range bound pattern. The start of the US reporting season next week will be closely monitored as with Bank Negara’s stance on the economy at the policy meetinglater this week.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
5 years ago