Business Times : latesthttp://www.btimes.com.my enFriday, July 29, 2011, 08.50 AMUnisem falls to 19-month lowhttp://www.btimes.com.my/articles/20110729095328/Article/ http://www.btimes.com.my/articles/20110729095328/Article/Fri, 29 Jul 2011 09:53:29 +0800Unisem (M) Bhd, a Malaysian semiconductor assembler, fell to a 19-month low in Kuala Lumpur trading after second-quarter profit dropped 75 per cent to RM12 million. The stock slid 1.4 per cent to RM1.38 at 9:37 a.m. local time, set for the lowest close since Jan. 5, 2010. -- Bloomberg WCT gains on RM115m Vale jobhttp://www.btimes.com.my/articles/20110729093037/Article/ http://www.btimes.com.my/articles/20110729093037/Article/Fri, 29 Jul 2011 09:30:37 +0800WCT Bhd, a Malaysian builder, rose in Kuala Lumpur trading after receiving a RM115.1 million earthworks services contract from Vale Malaysia Manufacturing Sdn Bhd.
The stock gained 1 per cent to RM3.09 at 9:20 a.m. local time, set for the biggest increase since July 21. -- Bloomberg Dutaland at 23-month high on land salehttp://www.btimes.com.my/articles/20110729092217/Article/ http://www.btimes.com.my/articles/20110729092217/Article/Fri, 29 Jul 2011 09:22:17 +0800Dutaland Bhd, a Malaysian plantation and property group, rose to a 23-month high after agreeing to sell oil-palm land to IOI Corp for RM830 million.
The stock climbed 3.3 per cent to 63.5 sen at 9:15 a.m. local time in Kuala Lumpur trading, set for the highest close since Aug. 13, 2009. -- Bloomberg KKB Engr slides on Q2 profit fallhttp://www.btimes.com.my/articles/20110729091926/Article/ http://www.btimes.com.my/articles/20110729091926/Article/Fri, 29 Jul 2011 09:19:26 +0800KKB Engineering Bhd, a Malaysian engineering and construction group, fell the most in more than two months in Kuala Lumpur trading after second-quarter profit dropped 13 per cent to RM11.7 million.
The stock slid 3 per cent to RM1.93 at 9:06 a.m. local time, set for the steepest loss since May 23. -- Bloomberg
E&O climbs on stake buy reporthttp://www.btimes.com.my/articles/20110729092059/Article/ http://www.btimes.com.my/articles/20110729092059/Article/Fri, 29 Jul 2011 09:20:59 +0800Eastern and Oriental Bhd rose to a three-week high after the Business Times reported that the main shareholders of SP Setia Bhd are seeking to buy a stake in the Malaysian property group.
The stock climbed 2.6 per cent to RM1.56 at 9:04 a.m. local time in Kuala Lumpur trading, set for the highest close since July 6. -- Bloomberg KL shares open lowerhttp://www.btimes.com.my/articles/20110729095718/Article/ http://www.btimes.com.my/articles/20110729095718/Article/Fri, 29 Jul 2011 09:57:18 +0800Share prices on Bursa Malaysia opened lower as the market remained under selling pressure with the benchmark index expected to slip below the immediate support level of 1,550 points, dealers said.
At 9.25am, the underlying FTSE Bursa Malaysia KLCI was 6.53 points lower at
1,545.38 after opening 0.45 of a point easier at 1,549.55.
HwangDBS Vickers Research said investors remained concerned over the US debt crisis as there was no compromise yet by lawmakers to reach an amicable
agreement. In reaction, the Wall Street's equity indices ended between flat and minus 0.5 per cent last night, it said in a research note.
Losers outpaced gainers 165 to 99 while 151 other counters were unchanged. A total of 1.01 million shares worth RM53.84 million were traded.
The Finance Index fell 11.05 points to 14,660.94, the Plantation Index
declined 1.21 points to 7,750.58 and the Industrial Index slid 5.5 points to
2,639.82.
The FBM Emas Index lost 8.3 points to 10,600.17, the FBM Mid 70 Index
dropped 13.21 points to 11,806.85 and the FBM Ace Index decreased 1.83 points to 4,055.88.
Among active stocks, Dutaland-Wa rose 1.5 sen to 18 sen, Dutaland added two
sen to 63.5 sen and Olympia-Wa fell half-a-sen to 13.5 sen.
Top gainers, KSL-WR rose 30 sen to 30.5 sen, HLS Corp added 22.5 sen to
35 sen and Tasek rose 14 sen to RM7.70. -- Bernama
US stocks mixed on debt-ceiling fearshttp://www.btimes.com.my/articles/20110729080118/Article/ http://www.btimes.com.my/articles/20110729080118/Article/Fri, 29 Jul 2011 08:01:19 +0800NEW YORK: US stocks ended mixed on Thursday, as nervous markets awaited a resolution to the debt-limit standoff in Washington, with the deadline for potential financial disaster only five days away.
The Dow Jones Industrial Average slumped 62.44 points (0.51 per cent) to close at 12,240.11. It has now fallen for five straight trading days amid jitters over the debt-ceiling deadlock.
The broader SandP 500 fell 4.22 points (0.32 per cent) to 1,300.67, while the tech-heavy Nasdaq Composite eked out a slight gain, rising 1.46 points (0.05 per cent) to 2,766.25.
The US Treasury says that if the government's US$14.29 trillion debt ceiling is not raised by Tuesday, it could be forced to default on its debts, an outcome seen as all-but-certain to have ruinous effects on financial markets.
But the standoff showed no signs of ending on Thursday as the Republican-led House of Representatives planned to vote on a debt-reduction plan which the Democrat-led Senate was almost certain to reject.
"The market needs and wants to see more concrete evidence of a deal getting done," said Scott Marcouiller, chief market technical strategist for Wells Fargo Advisors.
In a sign of Wall Street's alarm, the heads of more than a dozen US banks and major financial firms - including Citigroup, Bank of America and Goldman Sachs - wrote a joint letter to President Barack Obama and Congress appealing for a swift resolution.
Stocks rallied early in the day after a surprisingly positive report on the US job market, but then fell back.
The US Labour Department said new claims for unemployment benefits fell to 398,000 last week, their lowest level in nearly four months and the first time they had fallen below 400,000 since early April.
Oil and gas giant ExxonMobil pulled down the Dow's average of 30 blue-chip stocks as it sank 2.2 per cent on a disappointing earnings report.
The energy firm said that its second-quarter profits surged 41 per cent from last year to US$10.7 billion thanks to rising oil prices, but the results fell short of analysts' forecasts.
Goodyear plunged 7.2 per cent after it reported record quarterly revenue of US$5.6 billion but also warned that growing inflation in emerging markets and high materials costs would cut into future earnings.
Thomson Reuters gained 3.4 per cent after reporting that its profits nearly doubled to US$563 million in the second quarter. -- AFP Full Feed Generated by Get Full RSS, sponsored by Used Car Search.
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