Index touches new high. The FBM KLCI ended the week at a fresh high in 31 months at 1,395.02, or 2.46 pts, higher although investors took profit on strong gains in the recent rally. Losers led gainers 394 to 316 while 327 counters were unchanged, 335 untraded and 35 others suspended. Among the key market news are Tan Sri Syed Yusof Syed Nasir has bought a 30% stake in Vasseti Bhd, Datuk Syed Hisham Syed Wazir was appointed UMW new president and CEO, French company Technip to buy stake in MMHE at a 2% premium to the institutional investors price, HSL wins RM47mil road project and Melewar makes RM75.2m from Aussie firm stake sale. In the corporate result scene, Maybank posted a record RM3.8bn net profit, Affin's pre-tax jumped 25.5pc in Q2, Alliance’s Q1 net profit soared on lower overheads and UMW’s Q2 net profit almost tripled as car sales accelerated. Wall Street stocks ended mostly lower on last Friday as traders remained concerned over the pace of recovery of the US economy after weak data. The DJIA closed down 57.59 pts (0.56%) to 10,213.62, extending a second week in the red. We expect any upside on the local bourse today ti be limited although some big corporates posted impressive earnings.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago