Drifting. The FBM KLCI closed more than 3 points lower at the start of the new week, with market sentiment weighed down by plantation counters and Tenaga Nasional. The number of gainers and losers were about even, with investors mostly taking the cue from external developments. Today’s key headlines are: (i) Help proposing a 3-for-5 bonus issue; (ii) Axiata selling its 89% stake in Multinet, Pakistan for USD15m; and (iii) MAS is in a RM2.2bn engine deal with Pratt & Whitney. The Dow closed marginally higher overnight as optimism on corporate earnings overshadowed a slump in homebuilder confidence. We expect the market to continue on its range bound trading today in the absence of notable leads.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago