2011 takes off with a bang. The local bourse welcomed the new year on a positive note with the FBM KLCI closing at an all-time high of 1533.42 pts on the first day of trading. With investors back in the market after the long New Year weekend, trading volume raced to 1.6bn versus the average of 906m in the previous week. Today’s key corporate headlines are: (i) Petra Energy is close to bagging a RM100m Murphy Oil job for hook up and commissioning works; (ii) MK Land sells 2 plots of land in Sg Buloh for RM130m; and (iii) Sunway inks 3 contracts worth some RM219m. With the underlying index in uncharted territory, the previous high of 1531.99 pts is now effectively a loose support, followed by the 1510 level. There is a possibility of a small pullback to digest the sharp gains yesterday although the overall strong close on the S&P and Dow overnight should generally see the positive trend continue. Crude oil price was steady, closing at USD91.54.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago