Mild correction. The earlier profit taking was well absorbed, with the FBM KLCI holding its composure to close 2.72 points higher at 1469.69. In the news are: (i) BToto’s 36% drop in net profit y-o-y in the July quarter due to the increase in pool betting duty; (ii) Sime Darby to take legal action against unindentified parties over breach of duties and improper conduct; and (iii) MAS places orders for 2 more A330-200F freighters. Also, the Government is reported to have awarded the 2.6Ghz spectrum to 9 mobile operators and wireless broadband players. The Dow jumped more than 1.3% following better than expected earnings from a homebuilder and IBM announced a USD1.7bn takeover exercise. We expect the local bourse to trade in a range bound pattern with an upside bias in search of fresh local leads.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago