KUALA LUMPUR: Blue chips may start off the week on a cautious note on Monday, Sept 20 after the late profit taking last Friday which took investors by surprise but sentiment could be given a boost by the firmer close on Wall Street.
Late profit taking on TENAGA NASIONAL BHD [] and Sime Darby pushed the FBM KLCI down nearly six points to 1,466.97.
Year-to-date, the 30-stock KLCI is up 15.26%, making it the fourth best performer in Asia. Over the past week, the KLCI had risen 29.19 points, underpinned by the strengthening ringgit and it is above analysts' earlier forecast of 1,450.
On Wall Street, reassuring earnings and an upbeat outlook from Oracle nudged the Nasdaq up last Friday. Oracle Corp, the world's No. 3 software maker, jumped 8.3% to US$27.46, and led the Nasdaq higher after it posted better-than-expected results and gave an outlook that topped Wall Street's forecasts.
The Dow Jones industrial average gained 13.02 points, or 0.12%, to 10,607.85. The Standard & Poor's 500 Index added 0.93 points, or 0.08%, to 1,125.59. The Nasdaq Composite Index climbed 12.36 points, or 0.54%, to 2,315.61.
For the week, the Dow rose 1.4%, the S&P 500 gained 1.5% and the Nasdaq gained 3.3%.
At Bursa Malaysia, stocks to watch include water-related counters, DATAPREP HOLDINGS BHD [], NAIM HOLDINGS BHD [], PROTON HOLDINGS BHD [], MHC PLANTATION []S BHD [] and Handal Resources Bhd.
Malaysian Trustees Bhd is convening a meeting for the Selangor water industry players and bondholders on Sept 24 in a move to resolve the current impasse in the sector and concerns of operating environment uncertainties.
PUNCAK NIAGA HOLDINGS BHD [] (PNHB) said on Friday, Sept 17, it was informed by Malaysian Trustees the meeting was for all the Selangor water concessionaire holders, operators and bond issuers.
Also included in the meeting would be the term loan borrowers -- Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Holdings Bhd (PNHB), Konsortium ABASS Sdn Bhd and Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH)
Dataprep' subsidiary has secured a RM34.99 million contract from Syarikat Prasarana Negara Bhd to implement a cashless bus ticketing system for Rapid KL Buses.'' Its 55% subsidiary Solsis (M) Sdn Bhd received the letter of award dated Sept 7.
Naim Holdings Bhd's plans to set up a joint venture to design and build a 50-storey tower known the Gaddafi Tower in Tripoli, Libya has come to a halt after the memorandum of understanding (MoU) lapsed.
Its unit NCSB Engineering Sdn Bhd and Al-Waatasemu Charity Foundation (WCF) had signed the MoU on July 16 this year.
Proton adviser Tun Dr Mahathir Mohamad said the national car maker is financially stable and sees no hurry in merging with other car manufactures.
"'Financially, Proton is still okay. We too are not very anxious to merge at this moment,' he said, when asked to comment on Proton's possible plan for merger after recent news report stated that DRB-Hicom was not actively looking to acquire a stake in Proton.
MHC Plantations Bhd has increased its stake in CEPATWAWASAN GROUP BHD [] to 37.01% after it acquired 4.2 million shares or 1.99% on Sept 15 for a total of RM4.59 million.
Meanwhile, Handal Resources Bhd saw 11 million shares done off-market on Friday at an average price of 65 sen each. Stock market data showed the shares were transacted below the market price of 80 sen. The 11 million shares represented a 12.22% stake.
Late profit taking on TENAGA NASIONAL BHD [] and Sime Darby pushed the FBM KLCI down nearly six points to 1,466.97.
Year-to-date, the 30-stock KLCI is up 15.26%, making it the fourth best performer in Asia. Over the past week, the KLCI had risen 29.19 points, underpinned by the strengthening ringgit and it is above analysts' earlier forecast of 1,450.
On Wall Street, reassuring earnings and an upbeat outlook from Oracle nudged the Nasdaq up last Friday. Oracle Corp, the world's No. 3 software maker, jumped 8.3% to US$27.46, and led the Nasdaq higher after it posted better-than-expected results and gave an outlook that topped Wall Street's forecasts.
The Dow Jones industrial average gained 13.02 points, or 0.12%, to 10,607.85. The Standard & Poor's 500 Index added 0.93 points, or 0.08%, to 1,125.59. The Nasdaq Composite Index climbed 12.36 points, or 0.54%, to 2,315.61.
For the week, the Dow rose 1.4%, the S&P 500 gained 1.5% and the Nasdaq gained 3.3%.
At Bursa Malaysia, stocks to watch include water-related counters, DATAPREP HOLDINGS BHD [], NAIM HOLDINGS BHD [], PROTON HOLDINGS BHD [], MHC PLANTATION []S BHD [] and Handal Resources Bhd.
Malaysian Trustees Bhd is convening a meeting for the Selangor water industry players and bondholders on Sept 24 in a move to resolve the current impasse in the sector and concerns of operating environment uncertainties.
PUNCAK NIAGA HOLDINGS BHD [] (PNHB) said on Friday, Sept 17, it was informed by Malaysian Trustees the meeting was for all the Selangor water concessionaire holders, operators and bond issuers.
Also included in the meeting would be the term loan borrowers -- Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Puncak Niaga Holdings Bhd (PNHB), Konsortium ABASS Sdn Bhd and Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH)
Dataprep' subsidiary has secured a RM34.99 million contract from Syarikat Prasarana Negara Bhd to implement a cashless bus ticketing system for Rapid KL Buses.'' Its 55% subsidiary Solsis (M) Sdn Bhd received the letter of award dated Sept 7.
Naim Holdings Bhd's plans to set up a joint venture to design and build a 50-storey tower known the Gaddafi Tower in Tripoli, Libya has come to a halt after the memorandum of understanding (MoU) lapsed.
Its unit NCSB Engineering Sdn Bhd and Al-Waatasemu Charity Foundation (WCF) had signed the MoU on July 16 this year.
Proton adviser Tun Dr Mahathir Mohamad said the national car maker is financially stable and sees no hurry in merging with other car manufactures.
"'Financially, Proton is still okay. We too are not very anxious to merge at this moment,' he said, when asked to comment on Proton's possible plan for merger after recent news report stated that DRB-Hicom was not actively looking to acquire a stake in Proton.
MHC Plantations Bhd has increased its stake in CEPATWAWASAN GROUP BHD [] to 37.01% after it acquired 4.2 million shares or 1.99% on Sept 15 for a total of RM4.59 million.
Meanwhile, Handal Resources Bhd saw 11 million shares done off-market on Friday at an average price of 65 sen each. Stock market data showed the shares were transacted below the market price of 80 sen. The 11 million shares represented a 12.22% stake.
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