KUALA LUMPUR: Stocks are expected to see only mild upside on Wednesday, Dec 8 after Wall Street posted mild gains as investors' enthusiasm over a tax cut extension deal was short-circuited
Reuters reported investors' appetite was curbed by rising bond yields and reports regulators were stepping up an insider-trading probe.
The Dow Jones industrial average dropped 3.03 points, or 0.03 percent, to 11,359.16. The Standard & Poor's 500 Index added 0.63 points, or 0.05 percent, to 1,223.75. The Nasdaq Composite Index gained 3.57 points, or 0.14 percent, to 2,598.49.
Stocks to watch on Bursa Malaysia include gaming stocks, Petronas Chemicals Group Bhd, InchKenneth Kajang plc, SPRITZER BHD [], oil and gas players and BINA DARULAMAN BHD [].
BERJAYA SPORTS TOTO BHD [], Berjaya Assets Bhd's subsidiary Natural Avenue Sdn Bhd and MULTI-PURPOSE HOLDINGS BHD []'s'' (MPHB) subsidiary Magnum Corporation Sdn Bhd have received the Ministry of Finance's (MoF) approval to reduce the prizes.
They said the prizes for their games would be reduced from RM200 per RM1 bet to RM180 per RM1 bet. The revised prize structure, which would take effect from Dec 15, would have a positive impact on their earnings, they said.
The Edge FinancialDaily reports on Wednesday the revised prize structure of two number forecast operators (NFOs), Magnum Corp and BToto, could see little positive impact on their earnings as savings go towards compensating for the increase in betting duty and potentially lower sales.
Petronas Chemicals Group could see trading interest after its parent, Petroliam Nasional Bhd and BASF will undertake a joint feasibility study to produce specialty chemicals in Malaysia and are considering investing RM4.0 billion ('1.0 billion).
The companies had signed an MoU for the feasibility study, which would extend the two parties' existing business collaboration in the country.
The partnership, via BASF Petronas Chemicals Sdn Bhd (in which BASF has 60% stake) own and operate an integrated complex in Gebeng, Pahang that produces acrylic monomers, oxo products and butanediol.
For the subsequent phase of the collaboration, Petronas Chemicals Group Bhd and BASF would jointly evaluate the outcome of the feasibility study and will adopt it as part of their strategic growth plans, if technically and commercially viable.
InchKenneth Kajang plc could see trading interest after it agreed to dispose of two parcels of land in Semenyih to UEM Land Bhd for RM268.5 million. Shares of InchKen resume trading on Wednesday.
The Edge FinancialDaily reports on Wednesday that Spritzer Bhd is in talks with potential joint venture partners in China and Australia on the possibility of producing bottled mineral or drinking water in these countries and expects to conclude these discussions sometime next year.
O&G companies could attract interest following the rally in crude oil price which surged to a 26-month peak above US$90 level earlier.
NLJ Resources Sdn Bhd has ceased to be a substantial shareholder in Techodex Bhd on Dec 2 after it disposed of 6.52 million shares at 16 sen each. The shares were disposed in a direct deal.
Reuters reported investors' appetite was curbed by rising bond yields and reports regulators were stepping up an insider-trading probe.
The Dow Jones industrial average dropped 3.03 points, or 0.03 percent, to 11,359.16. The Standard & Poor's 500 Index added 0.63 points, or 0.05 percent, to 1,223.75. The Nasdaq Composite Index gained 3.57 points, or 0.14 percent, to 2,598.49.
Stocks to watch on Bursa Malaysia include gaming stocks, Petronas Chemicals Group Bhd, InchKenneth Kajang plc, SPRITZER BHD [], oil and gas players and BINA DARULAMAN BHD [].
BERJAYA SPORTS TOTO BHD [], Berjaya Assets Bhd's subsidiary Natural Avenue Sdn Bhd and MULTI-PURPOSE HOLDINGS BHD []'s'' (MPHB) subsidiary Magnum Corporation Sdn Bhd have received the Ministry of Finance's (MoF) approval to reduce the prizes.
They said the prizes for their games would be reduced from RM200 per RM1 bet to RM180 per RM1 bet. The revised prize structure, which would take effect from Dec 15, would have a positive impact on their earnings, they said.
The Edge FinancialDaily reports on Wednesday the revised prize structure of two number forecast operators (NFOs), Magnum Corp and BToto, could see little positive impact on their earnings as savings go towards compensating for the increase in betting duty and potentially lower sales.
Petronas Chemicals Group could see trading interest after its parent, Petroliam Nasional Bhd and BASF will undertake a joint feasibility study to produce specialty chemicals in Malaysia and are considering investing RM4.0 billion ('1.0 billion).
The companies had signed an MoU for the feasibility study, which would extend the two parties' existing business collaboration in the country.
The partnership, via BASF Petronas Chemicals Sdn Bhd (in which BASF has 60% stake) own and operate an integrated complex in Gebeng, Pahang that produces acrylic monomers, oxo products and butanediol.
For the subsequent phase of the collaboration, Petronas Chemicals Group Bhd and BASF would jointly evaluate the outcome of the feasibility study and will adopt it as part of their strategic growth plans, if technically and commercially viable.
InchKenneth Kajang plc could see trading interest after it agreed to dispose of two parcels of land in Semenyih to UEM Land Bhd for RM268.5 million. Shares of InchKen resume trading on Wednesday.
The Edge FinancialDaily reports on Wednesday that Spritzer Bhd is in talks with potential joint venture partners in China and Australia on the possibility of producing bottled mineral or drinking water in these countries and expects to conclude these discussions sometime next year.
O&G companies could attract interest following the rally in crude oil price which surged to a 26-month peak above US$90 level earlier.
NLJ Resources Sdn Bhd has ceased to be a substantial shareholder in Techodex Bhd on Dec 2 after it disposed of 6.52 million shares at 16 sen each. The shares were disposed in a direct deal.
No comments:
Post a Comment