Post-Budget blues. The FBM KLCI eased 9 points to 1480.7 pts as profit-taking set in following the market-neutral Budget 2011. Top losers among the component stocks were MISC, Petronas Gas, PLUS, Tenaga and Genting. Today’s corporate news: are Public Bank reported RM782.7m in net profit for the September quarter, Konsortium Logistik receives unconditional takeover offer from Ekuinas Capital for RM1.55 cash per share, Boustead Heavy Industries Corp receives a LOI from the Ministry of Defence to construct patrol vessels with the contract value to be negotiated, Malaysia's car sales fell by 6% y-o-y in September while Hewlett-Packard plans to make Malaysia its global suppport centre. With the 80-pt rebound on the Dow overnight on the back of stronger banking stocks, local stocks have an opportunity to recover from their post-Budget blues today. Resistance is seen at the 1500-pt psychological level while immediate support lies at 1439 points.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago