A new High. The FBM KLCI surged 11.44 points to a new high of 1,422.5 on Monday. Strong buying interest in Genting, Sime and Maybank helped the KLCI reach its highest level since February 2008. The corporate news include Sime Darby is looking to unwind some of its property JVs, EPF to invest RM4.88bn in UK properties, the Malaysian Accounting Standards Board has deferred the implementation of IFRIC 15 for property developers, the Selangor government has given the consent for the Langat 2 water transfer project and Maxis reported 2QFY10 results that were below market expectations. Overnight, the Dow closed marginally higher by 4.99 points as the market awaits fresh leads on the Federal Reserve’s plans to help bolster economic growth.
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Wednesday, September 1, 2010
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A new High. The FBM KLCI surged 11.44 points to a new high of 1,422.5 on Monday. Strong buying interest in Genting, Sime and Maybank helped the KLCI reach its highest level since February 2008. The corporate news include Sime Darby is looking to unwind some of its property JVs, EPF to invest RM4.88bn in UK properties, the Malaysian Accounting Standards Board has deferred the implementation of IFRIC 15 for property developers, the Selangor government has given the consent for the Langat 2 water transfer project and Maxis reported 2QFY10 results that were below market expectations. Overnight, the Dow closed marginally higher by 4.99 points as the market awaits fresh leads on the Federal Reserve’s plans to help bolster economic growth.
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