Off the low. The FBM KLCI closed just off the low on the first trading day of the week with the number of gainers to losers about equal. Investors could be weighing the downside from the mostly negative external newsflows with that of domestic leads with the reporting season well underway. Some of more notable headlines: (i) the PM has refuted claims of a Cabinet reshuffule and early elections; (ii) MRCB revealed that it is mulling various corporate proposals in a statement to Bursa with its shares suspended along IJM Land from trading until end today; (iii) Salcon inked a deal to dispose of its 40% stake in a China water concession. CIMB reported another sterling quarter with a special dividend of 13.45sen declared while both Sunway and SunCity are suspended. We expect the range bound trading pattern to continue with sentiment likely to get a lift from more M&A announcements later during the week.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago