NST Online Business Times : latest
NST Online Business Times : latest |
| KL shares open lower on profit taking Posted: 30 Oct 2013 07:26 PM PDT Share prices on Bursa Malaysia were traded lower in early trading today on profit taking, dealers said. At 9.33am, the FTSE Bursa Malaysia KLCI was 8.78 points easier at 1,808.6 after opening 1.31 points higher at 1,816.96. HwangDBS Vickers Research said the benchmark index, which hit a high of 1,818.89 before losing steam to close at 1,817.38 yesterday, could continue to be range-bound between its immediate support and resistance levels of 1,800 and 1,825 today. On the scoreboard, the Finance Index lost 101.67 points to 16,650.88, while the Plantation Index rose 18.85 points to 8,591.9 and the Industrial Index was up 4.57 points to 3,141.84.
Gainers outpaced losers 137 to 203, with 776 counters unchanged, 533 untraded and 82 others suspended. Turnover stood at 414.65 million shares worth RM408.79 million. Among actives, The Media Shoppe and Daya Materials added half-a-sen each to 8.5 sen and 39 sen respectively and Sensol gained three sen to 46.5 sen. Boustead lost six sen to RM5.18 while Instacom was unchanged at 31.5 sen. As for heavyweights, Maybank fell seven sen to RM9.75, Axiata and Petronas Chemicals dropped three sen each to RM6.87 and RM7.10 respectively, CIMB shed 10 sen to RM7.50 and Sime Darby lost one sen to RM9.55.-- Bernama |
| US stocks retreat as Fed keeps stimulus Posted: 30 Oct 2013 05:10 PM PDT NEW YORK: US stocks on Wednesday closed lower after the US Federal Reserve maintained an aggressive monetary stimulus programme and reiterated that it will await stronger economic conditions before scaling it back. The Dow Jones Industrial Average fell 61.59 points (0.39 percent) to 15,618.76. The broad-based S&P 500 declined 8.64 points (0.49 percent) to 1,763.31, while the tech-rich Nasdaq Composite Index gave up 21.72 points (0.55 percent) at 3,930.62. The Fed's decision to hold steady on its US$85 billion per-month bond-buying programme, though bullish for stocks, was widely anticipated and had helped propel the Dow and S&P 500 to records Tuesday.
"It's just a case of profit taking," said William Lynch, director of investment for Hinsdale Associates. The market "has been so strong that it's been due for a breather." US auto giant General Motors powered 3.2 percent higher after earnings excluding special items bested expectations by three cents at 96 cents per share. The company reported better results in North America and a narrowed loss in Europe. Video game developer Electronic Arts jumped 7.8 percent after reporting earnings of 33 cents per share, more than double the 12 cents expected by analysts. The company also raised its earnings forecast. Pharmaceutical company Gilead Sciences jumped 4.6 percent after earnings rose 17 percent to US$788.6 million and the company raised its revenue forecast and plans for research and development spending. Sales of antiviral products were particularly strong. Money transfer firm Western Union sank 12.4 percent after announcing that it expects operating profit growth to stall in 2014 due to significantly higher regulatory costs. Internet networking site LinkedIn sank 9.3 percent after the company's fourth-quarter revenue forecast of US$415 million-US$420 million lagged analyst forecasts of US$438.1 million. -- AFP |
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