Business Times : latesthttp://www.btimes.com.my enTuesday, October 11, 2011, 10.49 AMTrading of Sime, E&O shares suspendedhttp://www.btimes.com.my/articles/20111011091537/Article/ http://www.btimes.com.my/articles/20111011091537/Article/Tue, 11 Oct 2011 09:15:37 +0800Sime Darby Bhd and Eastern and Oriental Bhd suspended their shares today pending announcements, they said in separate statements.
Sime completed an acquisition of a 30 percent stake in Eastern and Oriental for RM766 million, or at RM2.30 a share on Sept. 11.
Sime said last month it was open to the possibility of making a general offer. -- Bloomberg AirAsia raised to 'buy', stock jumpshttp://www.btimes.com.my/articles/20111011092628/Article/ http://www.btimes.com.my/articles/20111011092628/Article/Tue, 11 Oct 2011 09:26:28 +0800AirAsia Bhd advanced to a three-week high after the stock was raised to "buy" from "neutral" at UBS AG to reflect the budget carrier's earnings prospects.
The stock climbed 2.3 percent to RM3.12 at 9:09 a.m. Kuala Lumpur time, set for its highest close since Sept. 21. -- Bloomberg
Proton climbs as rating upgradedhttp://www.btimes.com.my/articles/20111011094147/Article/ http://www.btimes.com.my/articles/20111011094147/Article/Tue, 11 Oct 2011 09:41:47 +0800Proton Holdings Bhd, a Malaysian state-controlled carmaker, climbed after its stock rating was raised to "market perform" from "underperform" at RHB Capital Bhd.
The stock gained 1.5 percent to RM2.70 at 9:28 a.m. Kuala Lumpur time.
The stock's "fair value" was increased to RM2.90 from RM2.50, RHB wrote in a report today. -- Bloomberg Bina Puri climbs on housing contracthttp://www.btimes.com.my/articles/20111011091413/Article/ http://www.btimes.com.my/articles/20111011091413/Article/Tue, 11 Oct 2011 09:14:13 +0800Bina Puri Holdings Bhd rose to its highest in almost a month after saying it won a RM20.4 million building contract from Jabatan Perumahan Negara.
The stock climbed 2.9 percent to RM1.08 at 9:02 a.m. Kuala Lumpur time, set for its highest close since Sept. 15. -- Bloomberg
TSH Res gains on bonus issue planhttp://www.btimes.com.my/articles/20111011091307/Article/ http://www.btimes.com.my/articles/20111011091307/Article/Tue, 11 Oct 2011 09:13:07 +0800TSH Resources Bhd, a Malaysian palm oil planter, rose the most this year in Kuala Lumpur trading after the company proposed a one-for-one bonus share issue.
The stock gained 7.5 percent to RM3.15 at 9:04 a.m. local time, set for its biggest increase since Dec. 14, 2010. -- Bloomberg KL shares recover in early tradehttp://www.btimes.com.my/articles/20111011100730/Article/ http://www.btimes.com.my/articles/20111011100730/Article/Tue, 11 Oct 2011 10:07:30 +0800KUALA LUMPUR: Share prices on Bursa Malaysia regained its footing this morning, recouping from Monday's losses, prompted by the positive performance on Wall Street overnight, dealers said.
Gains on British American Tobacco, Digi.com and KL Kepong pushed the benchmark FTSE Bursa Malaysia KLCI to 1,411.06, up 14.02 points, after 20 minutes of trading. The index opened 9.95 points better at 1,406.99.
A majority of global equities advanced on renewed hopes for a resolution of the debt crisis in the euro zone, dealers said.
"Major US equity indices jumped between 3.0 per cent and 3.5 per cent last night on news that a plan may be on the way to recapitalise European banks in an effort to contain the region's debt problems," said HwangDBS Vickers Research.
In a research note, it said the positive sentiment would likely lift the local bourse's performance today, however, it reckoned the benchmark index's progress could be blocked by its immediate resistance barrier of 1,415 ahead.
The Finance Index surged 158.23 points to 12,963.41, the Plantation Index rose 73.41 points to 7,111.12 and the Industrial Index gained 22.25 points to 2,537.21.
The FBM Emas Index advanced 98.16 points to 9,557.21, the FBM Mid 70 Index climbed 128.97 points to 10,165.2 and the FBM Ace Index increased 6.04 points to 3,652.5.
The market breath was positive with gainers outpacing losers 288 to 16 while 106 counters were unchanged, 1,067 untraded and 33 others were suspended.
Turnover stood at 103.165 million shares worth RM95.043 million.
Among actives, Dutaland-Wa added 1.5 sen to 13 sen, Dutaland inched up half-a-sen to 65.5 sen and Dialog-GC added 1.5 sen to nine sen.
Of heavyweights, both Maybank and CIMB were up eight sen each to RM8.28 and RM7.23, respectively, while Petronas Chemicals advanced five sen to RM5.65.
Meanwhile trading in Sime Darby and Eastern and Oriental shares were suspended from 9am pending an announcement while the industrial production report for August was scheduled to be released later today. - Bernama
Ringgit opens sharply higher http://www.btimes.com.my/articles/20111011094639/Article/ http://www.btimes.com.my/articles/20111011094639/Article/Tue, 11 Oct 2011 09:46:39 +0800KUALA LUMPUR: The ringgit was traded sharply higher against the US dollar, in early trade, as the greenback weakened following
advances in the euro on hopes that a new plan will help contain the debt crisis, dealers said.
The local currency rose to 3.1070/1100 against the greenback from 3.1205/1250 at 5pm yesterday.
The ringgit was, however, lower against the Singapore dollar at 2.4321/4348, from 2.4271/4325, yesterday but appreciated against the yen to 4.0503/0569, from 4.0732/0812, on Monday.
It gained against the British pound to 4.8597/8656, from 4.8842/8922, yesterday but was easier against the euro at 4.2352/2399 against 4.2336/2406, previously. - Bernama US stocks soar on Franco-German pledgehttp://www.btimes.com.my/articles/20111011070550/Article/ http://www.btimes.com.my/articles/20111011070550/Article/Tue, 11 Oct 2011 07:05:50 +0800NEW YORK: US stocks rallied sharply on Monday after Germany and France pledged over the weekend to find a solid plan to address the eurozone debt crisis and shore up European banks within weeks.
The Dow Jones Industrial Average leaped 330.06 points (2.97 percent) to finish at 11,433.18.
The broader SandP 500 surged 39.43 points (3.41 percent) to 1,194.89, while the tech-heavy Nasdaq Composite gained 86.70 points (3.50 percent) to 2,566.05.
Stocks piled up gains "after government leaders in Germany and France said they would develop a plan to recapitalise banks by the end of the month," said Sameer Samana at Wells Fargo Advisors.
Trade was thinner than usual with much of the country, including federal and local governments, as well as the bond market, on holiday for Columbus Day.
All 30 Dow blue chips ended higher just ahead of the third-quarter earnings season that kicks off on Tuesday after the market closes, with Alcoa the first Dow component to report.
Alcoa leaped 3.9 percent Monday, while Caterpillar jumped 4.8 percent.
Financials benefited from hopes that Europe will boost the capital of its banks suffering from the public debt crises in Greece, Ireland and Portugal.
Bank of America surged 6.4 percent, JPMorgan Chase was up 5.2 percent and American Express added 4.7 percent.
Apple leaped 5.1 percent after saying pre-orders of the new model of its hit iPhone 4 smartphone topped one million units in the first 24 hours, a record for an Apple product.
Netflix reversed heavy gains and closed 4.8 percent lower. The firm announced it would not split its by-mail and streaming video rental services onto two websites. -- AFP Full content generated by Get Full RSS.
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