KUALA LUMPUR: Key Asian markets are expected to start the new week Monday, June 28, on a cautious note, with the external factors continuing to dictate investors' sentiment.
On Wall Street, the tech-heavy Nasdaq and broader S&P 500 rose modestly on Friday, as investors were relieved the financial regulation bill wouldn't crimp Wall Street profits as badly as feared.
The Dow Jones industrial average fell 8.99 points, or 0.09%, to 10,143.81. The S&P was up 3.07 points, or 0.29%, at 1,076.76. The Nasdaq Composite Index inched up 6.06 points, or 0.27%, at 2,223.48.
For the week, the Dow fell 2.9% for the week, the S&P 500 was off 3.6% and the Nasdaq Composite fell 3.7%.
At Bursa Malaysia, stocks are expected to see some downside pressure despite the late buying interest in selected heavyweights in the 30-stock FBM KLCI last Friday.
Concerns about the overseas impact, particularly in the US had affected local market sentiment.
Stocks to watch on Monday are Linear Corp Bhd, PETRA PERDANA BHD [], SUBUR TIASA HOLDINGS BHD [] and STAMFORD COLLEGE BHD [].
Bursa Malaysia Securities Bhd directed Linear Corp Bhd to immediately appoint a special auditor (SA) to undertake an investigation into the affairs of the company and in particular its financials.
Linear said it had received the directive from the regulator to have an SA to identify any potential irregularities, 'including but not limited to the operations and maintenance of the Prime Savings & Trust accounts in Sweden where the RM36 million was purportedly paid out'.
Linear had to revert to Bursa Securities within two market days on the proposed scope of work and candidates of the SA for their concurrence.
Meanwhile, Petra Perdana received Bursa Securities' approval to place out 10% of its paid-up share capital to Nam Cheong Dockyard Sdn Bhd. It would still need shareholders' approval at the June 28 AGM.
Petra Perdana's said Nam Cheong was a potential strategic investor which could benefit the company in the long-term.
Subur Tiasa Holdings Bhd posted stronger earnings with net profit for the third quarter ended April 30, 2010 (3QFY10) surging 84% to RM10.43 million from RM5.68 million a year ago.
Revenue rose 4.8% to RM164.12 million from RM156.69 million previously while earnings per share (EPS) stood at 5.55 sen versus 3.01 sen. The board did not declare any dividend for 3QFY10.
Stamford College, whose shares surged last Friday in line with SEG INTERNATIONAL BHD [] and other education providers, could see some profit taking.
The Practice Note 17 company and is awaiting Bursa Malaysia Securities' approval for its proposed diversification into the manufacturing of low alloyed, alloyed and long steel products.
In the first quarter ended March 31, 2010, it reported net profit of RM1.61 million on the back of RM9.65 million in revenue. Its net assets per share were 56 sen.
On Wall Street, the tech-heavy Nasdaq and broader S&P 500 rose modestly on Friday, as investors were relieved the financial regulation bill wouldn't crimp Wall Street profits as badly as feared.
The Dow Jones industrial average fell 8.99 points, or 0.09%, to 10,143.81. The S&P was up 3.07 points, or 0.29%, at 1,076.76. The Nasdaq Composite Index inched up 6.06 points, or 0.27%, at 2,223.48.
For the week, the Dow fell 2.9% for the week, the S&P 500 was off 3.6% and the Nasdaq Composite fell 3.7%.
At Bursa Malaysia, stocks are expected to see some downside pressure despite the late buying interest in selected heavyweights in the 30-stock FBM KLCI last Friday.
Concerns about the overseas impact, particularly in the US had affected local market sentiment.
Stocks to watch on Monday are Linear Corp Bhd, PETRA PERDANA BHD [], SUBUR TIASA HOLDINGS BHD [] and STAMFORD COLLEGE BHD [].
Bursa Malaysia Securities Bhd directed Linear Corp Bhd to immediately appoint a special auditor (SA) to undertake an investigation into the affairs of the company and in particular its financials.
Linear said it had received the directive from the regulator to have an SA to identify any potential irregularities, 'including but not limited to the operations and maintenance of the Prime Savings & Trust accounts in Sweden where the RM36 million was purportedly paid out'.
Linear had to revert to Bursa Securities within two market days on the proposed scope of work and candidates of the SA for their concurrence.
Meanwhile, Petra Perdana received Bursa Securities' approval to place out 10% of its paid-up share capital to Nam Cheong Dockyard Sdn Bhd. It would still need shareholders' approval at the June 28 AGM.
Petra Perdana's said Nam Cheong was a potential strategic investor which could benefit the company in the long-term.
Subur Tiasa Holdings Bhd posted stronger earnings with net profit for the third quarter ended April 30, 2010 (3QFY10) surging 84% to RM10.43 million from RM5.68 million a year ago.
Revenue rose 4.8% to RM164.12 million from RM156.69 million previously while earnings per share (EPS) stood at 5.55 sen versus 3.01 sen. The board did not declare any dividend for 3QFY10.
Stamford College, whose shares surged last Friday in line with SEG INTERNATIONAL BHD [] and other education providers, could see some profit taking.
The Practice Note 17 company and is awaiting Bursa Malaysia Securities' approval for its proposed diversification into the manufacturing of low alloyed, alloyed and long steel products.
In the first quarter ended March 31, 2010, it reported net profit of RM1.61 million on the back of RM9.65 million in revenue. Its net assets per share were 56 sen.
No comments:
Post a Comment