KUALA LUMPUR: With Wall Street extending its gains for the second day on Thursday, Dec 2, the positive sentiment is expected to continue to underpin buying interest in key regional markets including Bursa Malaysia.
At Bursa Malaysia, the FBM KLCI smashed through the key 1,500 level on Thursday, surging 17.8 points or 1.2% to close at 1,503.22.
The upbeat mood reflected also the large liquidity in the market as investors were quick to snap up riskier assets like equities on any sign of positive news, especially after the volatile and downbeat November.
Wall Street rallied for a second day on Thursday as concerns about Europe's sovereign debt crisis waned, giving investors the chance to add to positions in winners among banks and retailers, according to Reuters
More than two stocks rose for every decliner on the New York Stock Exchange, with bank stocks leading the way after Goldman Sachs said improving economic conditions will favor that sector.
The European Central Bank allayed some concerns of a growing euro-zone crisis with hefty purchases of Portuguese and Irish debt. The European Central Bank, however, said it did not plan to increase the size of its liquidity program at this time.
At Bursa, stocks to watch include TELEKOM MALAYSIA BHD [], Jaks Resources Bhd and IJM Corp Bhd, GLOMAC BHD [], TAMADAM BONDED WAREHOUSE BHD [] and PPB GROUP BHD [].
TM stands to gain RM444.7 million through the proposed sale of 191.46 million shares it holds in Axiata Group Bhd, or 2.27% stake via private placement or in the open market.
TM said assuming that all 191.458 million sale shares are disposed at a sale price of RM4.593 per share, the proceeds raised from the proposed disposal will be approximately RM879.4 million.
JAKS Resources and its joint venture partner IJM Corporation have accepted the award for the RM268.53 million Pahang-Selangor raw water transfer project.
Glomac's earnings rose 70% to RM15.88 million in the second quarter ended Oct 31, from RM9.3 million a year ago, boosted by contributions from on-going progress completion from Glomac Tower and Glomac Cyberjaya.
Revenue rose 86% to RM140.89 million from RM75.63 million a year ago while earnings per share were 5.44 sen versus 3.26 sen.
For the first half, net profit rose 78.4% to RM31.4 million from RM17.64 million.
The Edge FinancialDaily reports logistics and in-flight catering services provider Tamadam Bonded Warehouse Bhd is said to contemplate spinning off its loss-making warehousing business and selling it to Amanah Raya Bhd.
Meanwhile, The Edge FD also reports PPB Group Bhd has proposed an issuance of 55.78 million new shares of RM1 each in one of its subsidiaries to Wilmar International Ltd in return for the option to potentially acquire equity interests in Wilmar's China subsidiaries.
''
''
At Bursa Malaysia, the FBM KLCI smashed through the key 1,500 level on Thursday, surging 17.8 points or 1.2% to close at 1,503.22.
The upbeat mood reflected also the large liquidity in the market as investors were quick to snap up riskier assets like equities on any sign of positive news, especially after the volatile and downbeat November.
Wall Street rallied for a second day on Thursday as concerns about Europe's sovereign debt crisis waned, giving investors the chance to add to positions in winners among banks and retailers, according to Reuters
More than two stocks rose for every decliner on the New York Stock Exchange, with bank stocks leading the way after Goldman Sachs said improving economic conditions will favor that sector.
The European Central Bank allayed some concerns of a growing euro-zone crisis with hefty purchases of Portuguese and Irish debt. The European Central Bank, however, said it did not plan to increase the size of its liquidity program at this time.
At Bursa, stocks to watch include TELEKOM MALAYSIA BHD [], Jaks Resources Bhd and IJM Corp Bhd, GLOMAC BHD [], TAMADAM BONDED WAREHOUSE BHD [] and PPB GROUP BHD [].
TM stands to gain RM444.7 million through the proposed sale of 191.46 million shares it holds in Axiata Group Bhd, or 2.27% stake via private placement or in the open market.
TM said assuming that all 191.458 million sale shares are disposed at a sale price of RM4.593 per share, the proceeds raised from the proposed disposal will be approximately RM879.4 million.
JAKS Resources and its joint venture partner IJM Corporation have accepted the award for the RM268.53 million Pahang-Selangor raw water transfer project.
Glomac's earnings rose 70% to RM15.88 million in the second quarter ended Oct 31, from RM9.3 million a year ago, boosted by contributions from on-going progress completion from Glomac Tower and Glomac Cyberjaya.
Revenue rose 86% to RM140.89 million from RM75.63 million a year ago while earnings per share were 5.44 sen versus 3.26 sen.
For the first half, net profit rose 78.4% to RM31.4 million from RM17.64 million.
The Edge FinancialDaily reports logistics and in-flight catering services provider Tamadam Bonded Warehouse Bhd is said to contemplate spinning off its loss-making warehousing business and selling it to Amanah Raya Bhd.
Meanwhile, The Edge FD also reports PPB Group Bhd has proposed an issuance of 55.78 million new shares of RM1 each in one of its subsidiaries to Wilmar International Ltd in return for the option to potentially acquire equity interests in Wilmar's China subsidiaries.
''
''
No comments:
Post a Comment