KUALA LUMPUR: After failing again to close above the key 1,500 level, which has proven to be formidable for the FBM KLCI, blue chips could trade in a narrow range again on Thursday, Oct 28 following the uninspiring overnight close on Wall Street.
Overnight, US stocks fell on Wednesday, as investors dialed back expectations of how aggressively the Fed would act to stimulate the economy.
With the uncertain outcomes of the U.S. elections and a Fed meeting next week, traders positioned themselves for more volatile markets. The CBOE Volatility index rose 2.4 percent and was up for the third consecutive day, according to Reuters.
The Dow Jones industrial average dropped 43.18 points, or 0.39 percent, to 11,126.28. The Standard & Poor's 500 Index lost 3.19 points, or 0.27 percent, to 1,182.45. But the Nasdaq Composite Index gained 5.97 points, or 0.24 percent, to 2,503.26.
Stocks to watch at Bursa Malaysia include DIALOG GROUP BHD [], TENAGA NASIONAL BHD [], NAIM HOLDINGS BHD [], SEALINK INTERNATIONAL BHD [] and TANJUNG OFFSHORE BHD [].
The Edge FinancialDaily reports on Thursday that Dialog is gearing up for exciting times ahead with the multi-billion-ringgit independent deepwater petroleum terminal project at Pengerang, Johor which will turn it into a regional oil storage and trading hub by 2017.
Tenaga Nasional will release its full-year financial results for the financial year ended Aug 31, 2010.
OSK Research pared down forecasts for FY10 by 8% as it believes its previous effective tariff forecast had been too bullish. It reduced Tenaga's fair value to RM9.76. However, it maintained a Buy on expectation of a short term catalyst from its proposed one-for-four bonus issue.
Naim Holdings secured a RM168.8 million contract from the Public Works Department for the infrastructure works of the the Bengoh Resettlement scheme in in Kuching.
It said the contract was expected to contribute positively to its the earnings for the financial years ending 2010 to 2012.
Sealink unit Sealink Engineering and Slipway Sdn Bhd has secured contracts for the sale of two offshore support vessels for about RM67 million. The vessels were expected to be delivered by the fourth quarter of 2010.
Tanjung Offshore received a RM22 million contract from Carigali-PTTEPI Operating Company Sdn Bhd (CPOC) to supply a tug and utility vessel. The contract was for a primary duration of three years.
The vessel would be used to support the offshore operations of CPOC in block B-17 in the Malaysia-Thailand Joint Authority development area.
ATIS CORPORATION BHD [] (Atis) and Atis IDR Ventures Sdn bhd (AIV) will not raise the current offer price of 97 sen per share for the remaining MUTIARA GOODYEAR DEVELOPMENT [] Bhd stake.
Overnight, US stocks fell on Wednesday, as investors dialed back expectations of how aggressively the Fed would act to stimulate the economy.
With the uncertain outcomes of the U.S. elections and a Fed meeting next week, traders positioned themselves for more volatile markets. The CBOE Volatility index rose 2.4 percent and was up for the third consecutive day, according to Reuters.
The Dow Jones industrial average dropped 43.18 points, or 0.39 percent, to 11,126.28. The Standard & Poor's 500 Index lost 3.19 points, or 0.27 percent, to 1,182.45. But the Nasdaq Composite Index gained 5.97 points, or 0.24 percent, to 2,503.26.
Stocks to watch at Bursa Malaysia include DIALOG GROUP BHD [], TENAGA NASIONAL BHD [], NAIM HOLDINGS BHD [], SEALINK INTERNATIONAL BHD [] and TANJUNG OFFSHORE BHD [].
The Edge FinancialDaily reports on Thursday that Dialog is gearing up for exciting times ahead with the multi-billion-ringgit independent deepwater petroleum terminal project at Pengerang, Johor which will turn it into a regional oil storage and trading hub by 2017.
Tenaga Nasional will release its full-year financial results for the financial year ended Aug 31, 2010.
OSK Research pared down forecasts for FY10 by 8% as it believes its previous effective tariff forecast had been too bullish. It reduced Tenaga's fair value to RM9.76. However, it maintained a Buy on expectation of a short term catalyst from its proposed one-for-four bonus issue.
Naim Holdings secured a RM168.8 million contract from the Public Works Department for the infrastructure works of the the Bengoh Resettlement scheme in in Kuching.
It said the contract was expected to contribute positively to its the earnings for the financial years ending 2010 to 2012.
Sealink unit Sealink Engineering and Slipway Sdn Bhd has secured contracts for the sale of two offshore support vessels for about RM67 million. The vessels were expected to be delivered by the fourth quarter of 2010.
Tanjung Offshore received a RM22 million contract from Carigali-PTTEPI Operating Company Sdn Bhd (CPOC) to supply a tug and utility vessel. The contract was for a primary duration of three years.
The vessel would be used to support the offshore operations of CPOC in block B-17 in the Malaysia-Thailand Joint Authority development area.
ATIS CORPORATION BHD [] (Atis) and Atis IDR Ventures Sdn bhd (AIV) will not raise the current offer price of 97 sen per share for the remaining MUTIARA GOODYEAR DEVELOPMENT [] Bhd stake.
No comments:
Post a Comment