KUALA LUMPUR: Key regional markets are expected to start off on a firmer note on Tuesday, Aug 10 on hopes the U.S. Federal Reserve will signal this week it is ready to renew its stimulus efforts to prop up a weakening U.S. economy.
On Wall Street, the Dow Jones industrial average gained 45.19 points, or 0.42%, to close at 10,698.75. The Standard & Poor's 500 Index advanced 6.15 points, or 0.55%, to finish at 1,127.79. The Nasdaq Composite Index rose 17.22 points, or 0.75%, to close at 2,305.69, according to Reuters.
The Dow was weighed down by Hewlett-Packard Co, whose shares fell 8 percent to $42.60. The company said on Friday its chief executive quit after an investigation found he falsified expense reports to conceal a "close personal relationship" with a female contractor.
On Bursa Malaysia, stocks to watch include glove makers, BASWELL RESOURCES BHD [], MBM RESOURCES BHD [] and Mudajaya Corp Bhd.
Glove makers could see some selling pressure after Hwang DBS Vickers Research said demand could be normalising to lower levels as the flu outbreak is under control and customers are reducing inventory holding periods to one to two months.
The research house said demand could be normalising to lower levels as the flu outbreak is under control and customers are reducing inventory holding periods to 1-2 months (vs 3-4 months during the outbreak).
The research house said the US dollar had weakened against the ringgit by another 2.5% m-o-m in July to RM3.16/US dollar, a two-year low.
Meanwhile RAM Holdings chief economist Dr Yeah Kim Leng expects the ringgit to be trading at RM3 to the US$1 by year-end.
Furniture maker Baswell ceased its operations and has become a Practice Note 17 company. Its MoU with Hong Kong's Metroplex Resources Ltd in January had also been terminated.
It was last traded at 19 sen on Monday. Its 52-week high was 84 sen and 52-week low was 11 sen.
MBM Resources' 71%-owned Daihatsu (Malaysia) Sdn Bhd targets over RM1 billion in sales for the current fiscal year ending Dec 31,2010. The RM1 billion sales is RM200million or 25% increase from last year's revenue of about RM800 million.
About 50% of its sales this year will come from its Daihatsu commercial vehicles,40% from Perodua cars and 10% from Hino variants.
Mudajaya rebounded on Monday after CIMB Research said it was maintaining a Buy on Mudajaya Corp Bhd with a Target Price of RM7.94, which is pegged to an unchanged 20% discount to RNAV.
The research house said it views positively the management's efforts to confront investors concerns last Friday.
On Wall Street, the Dow Jones industrial average gained 45.19 points, or 0.42%, to close at 10,698.75. The Standard & Poor's 500 Index advanced 6.15 points, or 0.55%, to finish at 1,127.79. The Nasdaq Composite Index rose 17.22 points, or 0.75%, to close at 2,305.69, according to Reuters.
The Dow was weighed down by Hewlett-Packard Co, whose shares fell 8 percent to $42.60. The company said on Friday its chief executive quit after an investigation found he falsified expense reports to conceal a "close personal relationship" with a female contractor.
On Bursa Malaysia, stocks to watch include glove makers, BASWELL RESOURCES BHD [], MBM RESOURCES BHD [] and Mudajaya Corp Bhd.
Glove makers could see some selling pressure after Hwang DBS Vickers Research said demand could be normalising to lower levels as the flu outbreak is under control and customers are reducing inventory holding periods to one to two months.
The research house said demand could be normalising to lower levels as the flu outbreak is under control and customers are reducing inventory holding periods to 1-2 months (vs 3-4 months during the outbreak).
The research house said the US dollar had weakened against the ringgit by another 2.5% m-o-m in July to RM3.16/US dollar, a two-year low.
Meanwhile RAM Holdings chief economist Dr Yeah Kim Leng expects the ringgit to be trading at RM3 to the US$1 by year-end.
Furniture maker Baswell ceased its operations and has become a Practice Note 17 company. Its MoU with Hong Kong's Metroplex Resources Ltd in January had also been terminated.
It was last traded at 19 sen on Monday. Its 52-week high was 84 sen and 52-week low was 11 sen.
MBM Resources' 71%-owned Daihatsu (Malaysia) Sdn Bhd targets over RM1 billion in sales for the current fiscal year ending Dec 31,2010. The RM1 billion sales is RM200million or 25% increase from last year's revenue of about RM800 million.
About 50% of its sales this year will come from its Daihatsu commercial vehicles,40% from Perodua cars and 10% from Hino variants.
Mudajaya rebounded on Monday after CIMB Research said it was maintaining a Buy on Mudajaya Corp Bhd with a Target Price of RM7.94, which is pegged to an unchanged 20% discount to RNAV.
The research house said it views positively the management's efforts to confront investors concerns last Friday.
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