KUALA LUMPUR: Blue chips may snap its two-day of losses on Monday, Sept 27, hopefully as investors sentiment is bolstered by the firmer close on Wall Street on Friday, where the major indices rose more than 2%.
Global stocks jumped but the dollar slid on Friday, Sept 24 as economic data both raised hopes the recovery is improving and bolstered speculation the Federal Reserve will boost money supply to aid a struggling economy.
U.S. stocks advanced in a broad rally that lifted Wall Street to a fourth consecutive week of gains. The benchmark Standard & Poor's 500 Index is now up 9.5 percent so far in September.
Reuters reported that while data on U.S. durable goods orders and home sales were soft, stock traders latched on to a rise in business spending in August as the latest sign the recovery is on firmer ground.
The Dow Jones industrial average closed up 197.84 points, or 1.86%, at 10,860.26. The Standard & Poor's 500 Index gained 23.84 points, or 2.12%, at 1,148.67. The Nasdaq Composite Index rose 54.14 points, or 2.33%, at 2,381.22.
Stocks to watch on Monday are KARAMBUNAI CORP BHD [], MCM TECHNOLOGIES BHD [], SUNWAY HOLDINGS BHD [] and VASTALUX ENERGY BHD [].
Karambunai's shares may retrace after it said it had not submitted any official proposal to the government about an integrated resort in Sabah,
Its share price had surged from 5.5 sen on Wednesday, Sept 22 since a news portal reported about a possible integrated resort in Sabah, to close at 18 sen on Friday. Over the past three days, the share price is up 227% or 12.5 sen.
It closed six sen higher at 18 sen on Friday with 392 million shares, accounting for about 22% of the total trading volume on Bursa Malaysia.
Amcorp Group Bhd's unit Mezzanine Capital Sdn Bhd is taking the company''private by acquiring the remaining 37.5% stake at 13 sen per share for RM15.58 million. Mezzanine holds 62.5% stake or 199.74 million shares.
Sunway is making its foray into Sri Lanka to undertake a mixed development project with a gross development value of RM250 million. It will also launch its third property project with GDV of RM1.1 billion in Singapore next week.
MARC has downgraded its rating on Vastalux Capital Sdn Bhd's (VCSB) RM100 million Sukuk Musyarakah facility to BB+IS from A+IS and placed the rating on MARCWatch Negative.
VCSB is a special purpose company set up by Vastalux Energy to issue the Sukuk Musyarakah, largely to fund Vastalux's working capital in relation to oil and gas service contracts awarded by the Petronas group.
Global stocks jumped but the dollar slid on Friday, Sept 24 as economic data both raised hopes the recovery is improving and bolstered speculation the Federal Reserve will boost money supply to aid a struggling economy.
U.S. stocks advanced in a broad rally that lifted Wall Street to a fourth consecutive week of gains. The benchmark Standard & Poor's 500 Index is now up 9.5 percent so far in September.
Reuters reported that while data on U.S. durable goods orders and home sales were soft, stock traders latched on to a rise in business spending in August as the latest sign the recovery is on firmer ground.
The Dow Jones industrial average closed up 197.84 points, or 1.86%, at 10,860.26. The Standard & Poor's 500 Index gained 23.84 points, or 2.12%, at 1,148.67. The Nasdaq Composite Index rose 54.14 points, or 2.33%, at 2,381.22.
Stocks to watch on Monday are KARAMBUNAI CORP BHD [], MCM TECHNOLOGIES BHD [], SUNWAY HOLDINGS BHD [] and VASTALUX ENERGY BHD [].
Karambunai's shares may retrace after it said it had not submitted any official proposal to the government about an integrated resort in Sabah,
Its share price had surged from 5.5 sen on Wednesday, Sept 22 since a news portal reported about a possible integrated resort in Sabah, to close at 18 sen on Friday. Over the past three days, the share price is up 227% or 12.5 sen.
It closed six sen higher at 18 sen on Friday with 392 million shares, accounting for about 22% of the total trading volume on Bursa Malaysia.
Amcorp Group Bhd's unit Mezzanine Capital Sdn Bhd is taking the company''private by acquiring the remaining 37.5% stake at 13 sen per share for RM15.58 million. Mezzanine holds 62.5% stake or 199.74 million shares.
Sunway is making its foray into Sri Lanka to undertake a mixed development project with a gross development value of RM250 million. It will also launch its third property project with GDV of RM1.1 billion in Singapore next week.
MARC has downgraded its rating on Vastalux Capital Sdn Bhd's (VCSB) RM100 million Sukuk Musyarakah facility to BB+IS from A+IS and placed the rating on MARCWatch Negative.
VCSB is a special purpose company set up by Vastalux Energy to issue the Sukuk Musyarakah, largely to fund Vastalux's working capital in relation to oil and gas service contracts awarded by the Petronas group.
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