Consolidation phase. The FBM KLCI put on just 2 points at 1461.78 points yesterday in relatively thin trading, off its high of 1466.29 points. Gainers beat losers by 430 to 283, with the most of the top 20 active stocks registering gains. Today’s news headlines are Putrajaya Perdana receives a Mandatory Take-Over Offer from Petrosaudi International for cash consideration of RM4.85 per share, Kimlun Corporation receives a RM70m contract from MRCB to construct a college building, Hai-O Enterprise reported a significant drop in 1Q net profit, Zelan sold 4.2m IJM Corp shares in the open market at RM5.12 average price. There were not many leads from the Europe and US markets, which closed marginally lower last night. Hence, local stocks may continue to consolidate, with immediate support at 1439 pts and resistance at 1479 points.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago