KUALA LUMPUR: Markets may start off on a cautious note on Thursday, Oct 7, with the tech-related counters in focus after Nasdaq fell overnight on worries about demand for semiconductors and data storage.
According to Reuters, Morgan Stanley downgraded semiconductor companies Xilinx Inc and Altera Corp to "underweight" on concerns about a slowdown in Asian markets. Both fell more than 2%.
However, the Dow Jones industrial average performed better, advancing 22.93 points, or 0.21%, to 10,967.65. The Standard & Poor's 500 Index inched down 0.78 of a point, or 0.07%, to 1,159.97. The Nasdaq Composite Index dropped 19.17 points, or 0.80%, to 2,380.66.
Stocks to watch at Bursa Malaysia include DIALOG GROUP BHD [], PETRA ENERGY BHD [], tech stocks, MALAYSIAN RESOURCES CORP [] Bhd and OLYMPIA INDUSTRIES BHD [] group.
Dialog subsidiary, Dialog E&C Sdn Bhd has secured a RM60.66 million contract to build and commission a new condensate tank and associated facilities at Bintulu crude oil terminal. Dialog said the contract was awarded by Petronas Carigali Sdn Bhd.
Petra Energy was awarded a contract by Murphy Sabah Oil Co. Ltd to provide maintenance and repair services for rotating equipment for Murphy's operations.
The contract is for three years, effective from Sept 3 with two options to extend the duration of the contract for a further period of one year each. It estimated the total value of the contract to be about RM12 million over the primary period of the contract.
MRCB shares fell in active trade on Wednesday after surging last week. MRCB fell seven sen to RM2.03 on market talk that a local tycoon was keen to develop the Rubber Research Institute Malaysia land in Sungai Buloh. MRCB was earlier asked by the EPF to look into the development of the land, reports had said.
However, RHB Research Institute had earlier this week raised its indicative fair value for MRCB by 28% from RM1.94 to RM2.49 largely to reflect higher margins from its KL Sentral property project.
Olympia could see trading interest after it reported that outstanding related party receivables totalled RM185.57 million as at Sept 27.'' Olympia said of the amount, RM10.53 million was between five and 10 years and RM140.78 million was more than 10 years old.
Of the RM140.78 million, Olympia said RM125 million was due from City PROPERTIES [] Sdn Bhd and its expectations were to recover the amount was by March 29, 2014.
Meanwhile, KPJ HEALTHCARE BHD [] saw Lembaga Tabung Haji acquiring six million shares on Sept 30 in the open market. The pilgrims fund had earlier ceased to be a substantial shareholder when it disposed of 1.29 million shares on Jan 19.
Johor Corporation, meanwhile, disposed of 15 million shares on Sept 29 and six million shares on Sept 30 in married deals. The recent transactions reduced its stake to 237.869 million shares.
''
According to Reuters, Morgan Stanley downgraded semiconductor companies Xilinx Inc and Altera Corp to "underweight" on concerns about a slowdown in Asian markets. Both fell more than 2%.
However, the Dow Jones industrial average performed better, advancing 22.93 points, or 0.21%, to 10,967.65. The Standard & Poor's 500 Index inched down 0.78 of a point, or 0.07%, to 1,159.97. The Nasdaq Composite Index dropped 19.17 points, or 0.80%, to 2,380.66.
Stocks to watch at Bursa Malaysia include DIALOG GROUP BHD [], PETRA ENERGY BHD [], tech stocks, MALAYSIAN RESOURCES CORP [] Bhd and OLYMPIA INDUSTRIES BHD [] group.
Dialog subsidiary, Dialog E&C Sdn Bhd has secured a RM60.66 million contract to build and commission a new condensate tank and associated facilities at Bintulu crude oil terminal. Dialog said the contract was awarded by Petronas Carigali Sdn Bhd.
Petra Energy was awarded a contract by Murphy Sabah Oil Co. Ltd to provide maintenance and repair services for rotating equipment for Murphy's operations.
The contract is for three years, effective from Sept 3 with two options to extend the duration of the contract for a further period of one year each. It estimated the total value of the contract to be about RM12 million over the primary period of the contract.
MRCB shares fell in active trade on Wednesday after surging last week. MRCB fell seven sen to RM2.03 on market talk that a local tycoon was keen to develop the Rubber Research Institute Malaysia land in Sungai Buloh. MRCB was earlier asked by the EPF to look into the development of the land, reports had said.
However, RHB Research Institute had earlier this week raised its indicative fair value for MRCB by 28% from RM1.94 to RM2.49 largely to reflect higher margins from its KL Sentral property project.
Olympia could see trading interest after it reported that outstanding related party receivables totalled RM185.57 million as at Sept 27.'' Olympia said of the amount, RM10.53 million was between five and 10 years and RM140.78 million was more than 10 years old.
Of the RM140.78 million, Olympia said RM125 million was due from City PROPERTIES [] Sdn Bhd and its expectations were to recover the amount was by March 29, 2014.
Meanwhile, KPJ HEALTHCARE BHD [] saw Lembaga Tabung Haji acquiring six million shares on Sept 30 in the open market. The pilgrims fund had earlier ceased to be a substantial shareholder when it disposed of 1.29 million shares on Jan 19.
Johor Corporation, meanwhile, disposed of 15 million shares on Sept 29 and six million shares on Sept 30 in married deals. The recent transactions reduced its stake to 237.869 million shares.
''
No comments:
Post a Comment