NST Online Business Times : latest |
'Take profit' froom JCY rally: CIMB Posted: 19 Oct 2011 06:25 PM PDT JCY International Bhd, a Malaysian disk-drive components maker, fell in Kuala Lumpur trading after CIMB Group Holdings Bhd advised investors to "take profit" after the stock jumped 27.5 percent yesterday. Its shares fell 1.7 percent to 57 sen at 9:07 a.m. local time. CIMB downgraded the JCY to "trading sell" from "trading buy," following yesterday's price rally which it was triggered by expectations that the company may benefit from increased orders after its Thai competitors were hit by floods. -- Bloomberg
|
Ringgit falls on slow export concern Posted: 19 Oct 2011 07:08 PM PDT Malaysia's ringgit fell after a report of a split among European leaders on a plan to resolve the region's debt crisis dimmed the outlook for the global economy. Government bonds rose by the most in almost two weeks. Luxembourg Prime Minister Jean-Claude Juncker, who chairs the group of euro-area finance ministers, said an impromptu meeting of European leaders in Frankfurt last night failed to resolve differences. The Federal Reserve said yesterday U.S. companies reported more doubt about the strength of the economic recovery. The MSCI Asia-Pacific Index of regional stocks dropped 0.9 percent. "There's no progress in Europe's rescue fund talks," said Akira Banno, a treasury adviser at Bank of Tokyo-Mitsubishi UFJ in Kuala Lumpur. "Export growth may slow because of the deteriorating outlook for the global economy." The ringgit weakened 0.5 percent to 3.1225 per dollar as of 9:32 a.m. in Kuala Lumpur, according to data compiled by Bloomberg.
"Overall economic activity continued to expand in September, although many districts described the pace of growth as 'modest' or 'slight,'" the Fed said in its Beige Book survey released yesterday in Washington. "Contacts generally noted weaker or less certain outlooks for business conditions." The yield on the 3.434 percent notes due August 2014 dropped six basis points, or 0.06 percentage point, to 3.13 percent, according to Bursa Malaysia. -- Bloomberg
|
You are subscribed to email updates from Business Times : latest To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 20 West Kinzie, Chicago IL USA 60610 |
0 ulasan:
Catat Ulasan