NST Online Business Times : latest
NST Online Business Times : latest |
| Posted: 17 Oct 2012 07:14 PM PDT Share prices on Bursa Malaysia continued its upward momentum from yesterday in early trade, on follow-through buying, dealers said. After 10 minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) improved 4.23 points to 1,664.9. HwangDBS Vickers Research said after crossing over the immediate resistance barrier of 1,655, to close at its intra-day high of 1,660.67 on Wednesday, the key FBM KLCI is expected to ride on the momentum today. "Technically speaking, the benchmark index may revisit its all-time high of 1,668.32 as it makes its way towards the next resistance target of 1,670," it said in a research note. On the local front, the Finance Index slipped 12.28 points to 14,845.29, the Plantation Index edged up 0.54 of a point to 8,194.08 and the Industrial Index added 3.93 points to 2,862.78. The FBM Emas Index increased 26 points to 11,305.74, the FBM Mid 70 Index jumped 20.47 points to 12,190.7 but the FBM Ace Index eased 3.94 points to 4,270.73 while the FBMT100 rose 26.51 points to 11,146.72. Gainers led losers 102 to 43, with 2,099 counters unchanged. Actives, SAAG eased half-a-sen to two sen while TH Heavy added four sen to 54 sen and TH Heavy-WA edged up three sen to 34 sen. Heavyweights, Maybank slipped five sen to RM9.23 while CIMB added six sen to RM7.71 but Sime Darby was unchanged at RM9.79. |
| US stocks extend 2 days of solid gains Posted: 17 Oct 2012 04:43 PM PDT NEW YORK: US stocks fought off early selling pressure linked to disappointing quarterly results from IBM and Intel to close broadly higher Wednesday, extending two days of solid gains. Strong data on new home building helped buoy stocks with hopes that the housing sector was beginning to revive. The broad-based S&P 500 closed up 5.99 points (0.41 per cent) at 1,460.91, while the tech-rich Nasdaq added 2.95 (0.10 per cent) at 3,104.12. The narrower Dow Jones Industrial Average of 30 blue chips touched into the black only late in trade, gaining 5.22 points (0.04 per cent) at 13,557.00. The Dow was held back by share price drops at Intel, IBM and UnitedHealth Group after their third-quarter financial results. Reporting after trade closed Tuesday, IBM (-4.9 per cent) revenues fell more than expected due to a sharp drop in hardware sales, and the company took a hit on shifts in the foreign exchange market. Intel (-2.5 per cent) said it was cutting back chip output due to slow computer sales and lowered forecasts of tablet sales. UnitedHealth fell 1.6 per cent despite a strong earnings report Tuesday after it announced a US$2.5 billion debt issue to finance its purchase of 90 percent of Brazilian health provider Amil Participacoes. Bank of America was down 0.2 per cent after reporting a sharp fall in profits in the third quarter due to accounting adjustments and legal costs. Earnings per share came in at a fraction of a penny before paying preferred dividends, better than the loss expected by analysts, but down from 56 cents a year earlier. Citigroup pushed 3.2 per cent higher a day after chief executive Vikram Pandit abruptly resigned as reports described a board that was no longer satisfied with his performance. Trade was also busy in real estate investment trust HCP, losing 2.7 pe rcent after reporting a 4.8 per cent drop in revenue, mainly due to a fall in rental income. -- AFP |
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