KUALA LUMPUR: With Bursa Malaysia posting its fifth day of losses on Friday, July 2, market sentiment is expected to continue to stay cautious in the week ahead, further dampened by the weak Wall Street.
On Wall Street, US stocks fell on Friday, July 2 to close out their worst week in two months as disappointing jobs data joined other recent evidence pointing to a tepid economic recovery.
The Dow Jones industrial average dropped 46.05 points, or 0.47 percent, to 9,686.48. The Standard & Poor's 500 Index lost 4.79 points, or 0.47 percent, to 1,022.58. The Nasdaq Composite Index fell 9.57 points, or 0.46 percent, to 2,091.79.
At Bursa Malaysia, stocks to watch include THREE-A RESOURCES BHD [], LAFARGE MALAYAN CEMENT BHD [] (LMC) and Genting Malaysia Bhd and PETRONAS DAGANGAN BHD [].
Companies whose subsidiaries are involved in pool betting like Multipurpose Holdings Bhd (MPHB), Tanjong plc and'' OLYMPIA INDUSTRIES BHD [] are affected by the hike in betting duties to 8% from 6% previously by the Ministry of Finance.
Three-A plans to raise up to RM62.09 million from a proposed share placement exercise of which the proceeds would be used to finance its investments and/or working capital requirements.
The share placement would involve up to 36.96 million new shares, representing 10% of its paid-up. As at June 24, its paid-up is RM73.92 million comprising of 36.96 million shares.
Lafarge SA, which owns 62.2% of LMC, plans to dispose of up to 11.2% in the latter. Lafarge SA presently holds the 62.2% stake in LMC via its subsidiaries, Lafarge Cement UK PLC and Associated International Cement Ltd.
Genting Malaysia's shares fell after it proposed to acquire Genting Singapore's under-performing UK operations, which analysts said was at the higher-end of peers' valuation. The stock may continue to see more downside pressure.
Power-gaming Tanjong declined after the Ministry of Finance raised the pool betting duty. Its unit Pan Malaysian Pools Sdn Bhd has been notified by the MoF of a revision in betting duties to 8% from 6% previously.
MPHB's subsidiary Magnum Corp Bhd has also been affected by the hike while Olympia's unit Diriwan Corporation Sdn Bhd had received a letter from the MoF on the increase in pool betting duty from 6% to 8%.
Petronas Dagangan announced a special dividend of 15 sen per ordinary share for the financial year ended March 31, 2010. It had earlier proposed the final dividend of 30 sen per share which will go ex on Aug 3.
On Wall Street, US stocks fell on Friday, July 2 to close out their worst week in two months as disappointing jobs data joined other recent evidence pointing to a tepid economic recovery.
The Dow Jones industrial average dropped 46.05 points, or 0.47 percent, to 9,686.48. The Standard & Poor's 500 Index lost 4.79 points, or 0.47 percent, to 1,022.58. The Nasdaq Composite Index fell 9.57 points, or 0.46 percent, to 2,091.79.
At Bursa Malaysia, stocks to watch include THREE-A RESOURCES BHD [], LAFARGE MALAYAN CEMENT BHD [] (LMC) and Genting Malaysia Bhd and PETRONAS DAGANGAN BHD [].
Companies whose subsidiaries are involved in pool betting like Multipurpose Holdings Bhd (MPHB), Tanjong plc and'' OLYMPIA INDUSTRIES BHD [] are affected by the hike in betting duties to 8% from 6% previously by the Ministry of Finance.
Three-A plans to raise up to RM62.09 million from a proposed share placement exercise of which the proceeds would be used to finance its investments and/or working capital requirements.
The share placement would involve up to 36.96 million new shares, representing 10% of its paid-up. As at June 24, its paid-up is RM73.92 million comprising of 36.96 million shares.
Lafarge SA, which owns 62.2% of LMC, plans to dispose of up to 11.2% in the latter. Lafarge SA presently holds the 62.2% stake in LMC via its subsidiaries, Lafarge Cement UK PLC and Associated International Cement Ltd.
Genting Malaysia's shares fell after it proposed to acquire Genting Singapore's under-performing UK operations, which analysts said was at the higher-end of peers' valuation. The stock may continue to see more downside pressure.
Power-gaming Tanjong declined after the Ministry of Finance raised the pool betting duty. Its unit Pan Malaysian Pools Sdn Bhd has been notified by the MoF of a revision in betting duties to 8% from 6% previously.
MPHB's subsidiary Magnum Corp Bhd has also been affected by the hike while Olympia's unit Diriwan Corporation Sdn Bhd had received a letter from the MoF on the increase in pool betting duty from 6% to 8%.
Petronas Dagangan announced a special dividend of 15 sen per ordinary share for the financial year ended March 31, 2010. It had earlier proposed the final dividend of 30 sen per share which will go ex on Aug 3.
No comments:
Post a Comment