Profit-taking dominates. The FBM KLCI lost 3.48 points to close at 1536.07 points in tandem with weaker regional bourses, which reacted to China's 25-basis point rate hike. Overnight, the Dow managed to close just 6.74 points higher but Europe’s markets were weaker. Today’s news headlines are Multi-Purpose Holdings (MPHB) enters into an MOU for the acquisition of the remaining 49% equity stake in Magnum Holdings it does not own and RM674.7m of RCULS for RM1637.2m via new MPHB shares and/or cash, MRCB reported RM41.5m in net profit for 4QFY10, while Coastal Contract secures contracts for seven offshore support vessels, three tugboats and two oil barges for a total of RM268m. The local bourse could continue to drift lower as profittaking continues to dominate. Immediate support is seen at 1,505 pts.
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Destinasi Seminar
Teknik Goldfinger RM akan diadakan di Pusat Latihan PUABUMI, Kemaman pada 10 Disember 2011
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MARKET REVIEW - 10 February 2011
Profit-taking dominates. The FBM KLCI lost 3.48 points to close at 1536.07 points in tandem with weaker regional bourses, which reacted to China's 25-basis point rate hike. Overnight, the Dow managed to close just 6.74 points higher but Europe’s markets were weaker. Today’s news headlines are Multi-Purpose Holdings (MPHB) enters into an MOU for the acquisition of the remaining 49% equity stake in Magnum Holdings it does not own and RM674.7m of RCULS for RM1637.2m via new MPHB shares and/or cash, MRCB reported RM41.5m in net profit for 4QFY10, while Coastal Contract secures contracts for seven offshore support vessels, three tugboats and two oil barges for a total of RM268m. The local bourse could continue to drift lower as profittaking continues to dominate. Immediate support is seen at 1,505 pts.
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