NST Online Business Times : latest
NST Online Business Times : latest |
| Bursa opens higher on persistent buying Posted: 28 May 2013 06:48 PM PDT Share prices on Bursa Malaysia opened higher today, driven by persistent buying support, dealers said. At 9am, the FTSE Bursa Malaysia KLCI (FBM KLCI) opened 1.58 points higher at 1,777.74. Market breadth was positive, with 170 gainers, 28 losers, 108 counters unchanged, 1,286 untraded, and 39 others suspended. Turnover stood at 62.39 million shares worth RM29.45 million.
Market sentiment also increaseD in line with key regional peers after the US' Dow Jones Industrial Average was up 0.69 per cent to 15,409.39, a new all-time high as the country home prices and consumer confidence improved. Across the region, Japan (+0.38 per cent), Indonesia (+1.79 per cent) and Hong Kong (+1.05). On the scoreboard, the Finance Index was flat at 1,6805.74, the Plantation Index was unchanged at 8,268.68 and the Industrial Index remained at 3,006.23. The FBM Emas Index was flat at 1,2387.97, the FBM 70 Index rose 44.39 points to 14,395.97, the FBM ACE Index was unchanged at 4,743.62 and the FBMT100 gained 25.761 points to 12,167.11. Among actives, Luster Industries was flat at 20 sen, KNM Group rose two sen to 60.5 sen and Daya Materials added half sen to 27.5 sen. Heavyweights, Maybank was flat at RM10.10, CIMB garnered nine sen to RM8.57 and Axiata added five sen to RM6.74. Bernama |
| Posted: 28 May 2013 04:26 PM PDT NEW YORK: The Dow closed at a new all-time high Tuesday after strong gains in US home prices and consumer confidence boosted stocks. The Dow Jones Industrial Average was up 106.29 (0.69 per cent) at 15,409.39, a new all-time high. The S&P 500 put on 10.46 (0.63 per cent) at 1,660.06, while the Nasdaq Composite Index added 29.75 (0.86 per cent) at 3,488.89. The widely watched S&P/Case-Shiller index of US home prices showed the price of a home in the 20 largest cities rose 10.9 per cent in the year to March, the largest year-on-year increase since 2006.
Stocks were also boosted by greater confidence that the Federal Reserve would maintain its bond-buying program and relief that Japan's stock market rose Tuesday, said Art Hogan of Lazard Capital Markets. "It's a great way to start the week," Hogan said, after markets were closed Monday for a public holiday. "We're going to need a string of good data, not just two points" before stocks go significantly higher, he added. Utility firm Exelon sank 7.5 per cent after Deutsche Bank downgraded it to "hold" amid expectations for lower power prices from surging supply. Similarly, FirstEnergy plummeted 6.5 per cent after Credit Suisse downgraded the firm, citing an electricity auction that exposed an industry with "poor discipline by incumbent generators" and "crushing" new capacity that will "inevitably leave energy and capacity prices weak." Other utilities also fell, but not as steeply. NRG gave up 3.7 per cent, American Electric Power dropped 2.4 per cent, Duke Energy retreated 1.6 per cent and PPL Corp. dipped 1.7 per cent. Video and live-streaming company Netflix gave up 6.4 per cent after the return of the "Arrested Development" show garnered mixed reviews. Luxury jeweller Tiffany jumped 4.0 per cent after reporting 70 cents per share in earnings, well above the 52 cents forecast. -- AFP |
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