Hanging on. The market traded in a typical range bound fashion yesterday but managed to eke out a 4.6-pt gain to close at the new record of 1574.49 pts. The volume of shares traded remained brisk, with the likes of Digi, Petronas Chemicals and Maybank driving the underlying index higher. Among the corporate headlines for today: (i) Hing Yiap has received an unconditional takeover offer from Everest Hectare for RM1.50/share; (ii) SP Setia to undertake a mixed commercial and residential project in Bangsar, and (iii) Southern Steel’s net profit contracted 62.4% y-o-y in 4QFY10 on lower margins. The prevailing bullish undertone should sustain the local bourse’s positive momentum today. Investors will take the cue from the slew of results set to be announced in the US by end of the week to gauge the earnings recovery prospects.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
6 years ago