KUALA LUMPUR: The market may start off on a firm note on Monday, Oct 4, after Wall Street continued to'' advance, underpinned by gains in resource stocks following a pick-up in manufacturing in China.
On Wall Street, the Dow Jones industrial average rose 41.63 points, or 0.39%, to end at 10,829.68 on Friday, Oct 1. The Standard & Poor's 500 Index advanced 5.04 points, or 0.44%, to 1,146.24. The Nasdaq Composite Index edged up 2.13 points, or 0.09%, to close at 2,370.75.
The US Commerce Department said on Friday, personal income rose 0.5% in August while real consumer spending rose 0.2%. Wall Street economists had expected a 0.3% increase in income and a 0.4% gain in spending. Inflation stayed low.
With incomes rising faster than spending, the personal savings rate rose to 5.8% of disposable income from 5.7% in July.
At Bursa Malaysia, stocks to watch include LANDMARKS BHD [], TENAGA NASIONAL BHD [], CNI HOLDINGS BHD [] and SilverBird Group Bhd.
The Edge weekly reports the recent rally in Landmarks's share price has led to speculation about the company's flagship asset on Bintan island in Indonesia.
The increase in investor interest is believed to have sprung from news that the project may be revived soon, said the weekly.
In Tenaga Nasional, its president and chief executive officer, Datuk Seri Che Khalib Mohamad Noh expects the power giant to post better results for the current financial year as the ringgit's appreciation has helped better manage coal cost.
He said the stronger ringgit has helped offset some of the effects of rising coal prices which were quoted in US dollar.
"Coal prices are quite stable now. In terms of ringgit per tonne, the prices remain the same as what they were in 2009," said Che Khalib.
In CNI Holdings Bhd, Fitri Ceria Sdn Bhd ceased to be a substantial shareholder after the disposal of 3.55 million shares on Oct 1. Mohamed Azman Yahya has ceased to be a substantial shareholder via his deemed interest in Fitri Ceria.
In Silverbird Group Bhd, Lembaga Tabung Haji disposed of 584,000 shares on Sept 28 and 29, reducing its stake to 23.84% or 92.18 million shares.
In Handal Resources Bhd, OSK Capital Partners Sdn Bhd emerged as a substantial shareholder with the acquisition of six million shares or 6.66% on Sept 24 in an off-market deal.
In PAN MALAYSIA CAPITAL BHD [], EON Bank Berhad was seen disposing of 9.17 million shares on Sept 24 and 27, reducing its shareholding to 75.86 million shares.
On Wall Street, the Dow Jones industrial average rose 41.63 points, or 0.39%, to end at 10,829.68 on Friday, Oct 1. The Standard & Poor's 500 Index advanced 5.04 points, or 0.44%, to 1,146.24. The Nasdaq Composite Index edged up 2.13 points, or 0.09%, to close at 2,370.75.
The US Commerce Department said on Friday, personal income rose 0.5% in August while real consumer spending rose 0.2%. Wall Street economists had expected a 0.3% increase in income and a 0.4% gain in spending. Inflation stayed low.
With incomes rising faster than spending, the personal savings rate rose to 5.8% of disposable income from 5.7% in July.
At Bursa Malaysia, stocks to watch include LANDMARKS BHD [], TENAGA NASIONAL BHD [], CNI HOLDINGS BHD [] and SilverBird Group Bhd.
The Edge weekly reports the recent rally in Landmarks's share price has led to speculation about the company's flagship asset on Bintan island in Indonesia.
The increase in investor interest is believed to have sprung from news that the project may be revived soon, said the weekly.
In Tenaga Nasional, its president and chief executive officer, Datuk Seri Che Khalib Mohamad Noh expects the power giant to post better results for the current financial year as the ringgit's appreciation has helped better manage coal cost.
He said the stronger ringgit has helped offset some of the effects of rising coal prices which were quoted in US dollar.
"Coal prices are quite stable now. In terms of ringgit per tonne, the prices remain the same as what they were in 2009," said Che Khalib.
In CNI Holdings Bhd, Fitri Ceria Sdn Bhd ceased to be a substantial shareholder after the disposal of 3.55 million shares on Oct 1. Mohamed Azman Yahya has ceased to be a substantial shareholder via his deemed interest in Fitri Ceria.
In Silverbird Group Bhd, Lembaga Tabung Haji disposed of 584,000 shares on Sept 28 and 29, reducing its stake to 23.84% or 92.18 million shares.
In Handal Resources Bhd, OSK Capital Partners Sdn Bhd emerged as a substantial shareholder with the acquisition of six million shares or 6.66% on Sept 24 in an off-market deal.
In PAN MALAYSIA CAPITAL BHD [], EON Bank Berhad was seen disposing of 9.17 million shares on Sept 24 and 27, reducing its shareholding to 75.86 million shares.
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