Market Thoughts U.S. stocks stepped mildly higher climbed on Monday, with the Dow Jones Industrial Average extending its record rise, as Wall Street looked to earnings reports this week from retailers including Wal-Mart Stores and Macys to get a read on consumer spending. Similarly, European equities closed higher with significant gains from the healthcare sector, following last weeks brief sell-off over concerns of the early reduction in the U.S. Federal Reserves stimulus program. On the local market, the FBM KLCI shed 0.27 points to 1804.21 points. Asian equity markets are set to gain on Tuesday following another record close on Wall Street overnight, with focus turning to the last day of a key policy meeting in China. As such, we expect the FBM KLCI to be positive today with support at 1800 points. Stocks in trading interest for today are: a) Salcon, as the group plans to earmark up to RM30m as special dividend for shareholders following its disposal of operating units in China; b) Scientex, after the group announced that it is buying a consumer packaging company from Seacera Group for RM40m; c) Seacera Group, as it has proposed a one-for-three bonus issue and free warrants after selling its subsidiary; d) AMMB, as the media highlighted that the group’s Singapore brokerage unit, AmFraser Securities, is believed making losses due to the recent fallout of three penny stocks involving Blumont Group, LionGold, and Asiasons Capital. Malaysia News & Highlights Westport reports 18.8% rise in Q3 earnings, no dividend Bina Puri in JV to develop RM200mil GDV Bangkok resort Mah Sings Q3 earnings rise 27.85% to RM70.618mil Work at KLIA2 98% done, should be completed by year-end PIB: Reject Censof offer Two frontrunners for Petronas jobs Titijaya plans launches worth RM730mil GDV in H1 of 2014 IOI Plantations gets 76.6% of Unico-Desa shares Boustead Holdings awards torpedo launch contract to BHIC subsidiary Foreign News U.S. Stocks Rise as Dow Extends Record on Stimulus Bets Canada Consumer Confidence Extends Drop on Job Security European Stocks Rise as Grifols Gains, BSkyB Sinks Euro Gains With Stocks, European Bonds While Gold Drops Nikkei Futures Rise Amid Weaker Yen as Crude to Gold Fall
Posted on: Tue, 12 Nov 2013 03:18:15 +0000
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