NST Online Business Times : latest
NST Online Business Times : latest |
| KL shares open higher on positive momentum Posted: 28 Nov 2012 06:44 PM PST Share prices on Bursa Malaysia opened higher today, maintaining the upward momentum of the market from yesterday, representing a relief rally from an oversold position, a dealer said. At 9.20 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.94 points higher at 1,608.46 after opening at 1,608.52. HwangDBS Vickers Research said the local bourse may show a relatively limited upside ahead, following its technical rebound yesterday, led by telco heavyweights. It said telco giant Axiata's shares would remain in the limelight today as the company is due to announce its latest quarterly results. The Industrial Index added 18.2 points to 2,662.04, the FBM Emas Index was 19.97 points higher at 10,963.3 and the FBMT100 gained 16.58 points to 10,806.86. The Plantation Index, however, declined 14.58 points to 7,922.17. Gainers led losers 125 to 76, with 129 counters unchanged and 1,328 others untraded. Volume stood at 85.04 million shares worth RM51.09 million. For the actives, Tiger Synergy added 1.5 sen to 40 sen, Metronic Global gained one sen to 14 sen and Tiger Synergy-WA earned 2.5 sen to 27 sen, while Ariantec Global and iDimension climbed half-a-sen each to 7.5 sen and 13.5 sen respectively. Among heavyweights, Maybank added one sen to RM9.05, CIMB and Axiata gained three sen each to RM7.57 and RM5.90 respectively, while Sime Darby went up seven sen to RM9.07 and Maxis lost 13 sen to RM6.37. -- Bernama |
| Posted: 28 Nov 2012 03:29 PM PST NEW YORK: US stocks scored solid gains Wednesday, spurred by encouraging remarks by politicians on averting looming tax hikes and spending cuts that could harm the economy. The Dow Jones Industrial Average climbed 106.98 points (0.83 percent) to 12,985.11, snapping two days of losses. The S&P 500-stock index gained 10.99 (0.79 percent) at 1,409.93, while the Nasdaq Composite added 23.99 (0.81 percent) at 2,991.78. Stocks initially opened lower and continued to slide after weaker-than-expected housing data before rebounding sharply over the course of the day.
"Fiscal-cliff chatter fueled the market's roller-coaster session, with optimistic comments from both President Barack Obama and House Speaker John Boehner placating the Street," said Andrea Kramer of Schaeffer's Investment Research. The positive finish also followed the Federal Reserve's Beige Book report showing that US businesses are increasingly concerned about the fiscal cliff impasse. Hewlett-Packard led the Dow higher, gaining almost 3 percent despite a Moody's credit downgrade. Dow member Chevron added 2.1 percent, American Express gained almost 2 percent, Pfizer was up 1.7 percent and Wal-Mart rose 1.5 percent. Discount retailer Costco surged 6.3 percent after announcing a jump in same-store sales in November and plans to issue a special US$7 cash dividend per share on December 18, joining a rash of companies aiming to avoid higher dividend taxes expected to come from US deficit-slashing negotiations. Struggling Knight Capital soared 15.2 percent after high-frequency trader Getco offered to buy it for US$539 million. On the Nasdaq, heavyweight Apple lost 0.3 percent. Groupon jumped 11.6 percent. -- AFP |
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