Range bound trading. The FBM KLCI rose by a marginal 1.72 pts to 1,463.50 pts, spurred by strong buying in finance counters although the overall market traded in a tight range. Losers outnumbered gainers by 399 to 329 while 280 counters were unchanged, 346 untraded and 31 others suspended. Among the key market news today are Datuk Seri S. Samy Vellu will step down as MIC president in January next year, PBA raises water tariffs by 27% for trade consumers, Ahmad Zaki wins university project, RHB Capital agrees to buy 15% of RHB Insurance for RM44.5m, TDM clarified that its Raya allowance for directors is a one-off event, Datuk Syed Hisham Syed Wazir is the new president and CEO of UMW, KHSB unit to sell land for RM57m, Mutiara Goodyear unit buys Dengkil land for RM12m, and Khazanah’s stake in DRB-Hicom is down to 4.97%. Overnight, the DJIA shed 47.23 pts to 10,788 as investors sold some of the month’s best-performing shares amid speculation that improving economic data will reduce the need for the Federal Reserve to stimulate growth. With that, we expect another lackluster day for the local bourse.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago