Selasa, 28 Ogos 2012

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KL shares rebound in early trade

Posted: 28 Aug 2012 06:44 PM PDT

KUALA LUMPUR: At 9.30 am today, there were 165 gainers, 114 losers and 190 counters traded unchanged on the Bursa Malaysia.

The FBM-KLCI was at 1,648.30 up 1.19 points, the FBMACE was at
4,626.10 up 19.96 points, and the FBMEmas was at 11,257.25 up 6.64 points.

Turnover was at 144.620 million shares valued at RM57.679 million.
-- BERNAMA

US stocks mixed ahead of Bernanke speech

Posted: 28 Aug 2012 04:38 PM PDT

NEW YORK: US stocks finished mixed Tuesday after economic data gave no clear direction on the economy, and as investors awaited a key speech by Federal Reserve chief Ben Bernanke on Friday.

The Dow Jones Industrial Average dropped 21.68 points (0.17 percent) to 13,102.99.

The broad-based S&P 500 slipped 1.14 (0.08 percent) to 1,409.30, while the tech-rich Nasdaq rose 3.95 (0.13 percent) to 3,077.14.

Wall Street stocks swung into and out of positive territory in thin trade.

"Traders appear to remain in wait-and-see mode to what may come from Friday's Federal Reserve get-together in Jackson Hole, Wyoming, keeping stocks rangebound and near the flatline," Charles Schwab & Co. analysts said.

Hopes are that Fed chief Bernanke will provide more information about the direction of monetary policy and stimulus measures at the annual gathering.

The Conference Board reported its consumer confidence index dropped to a nine-month low of 60.6 for August, down from 65.9 in July.

The report showed consumers grew less confident about business and job prospects in the coming months.

Before the opening bell, the S&P Case-Shiller Home Price Index of 20 cities showed prices rose for the fifth straight month in June, by 1.0 percent.

"Shaky consumer confidence is a worry, despite rising home values," said Jennifer Lee at BMO Capital Markets.

Shares in PVH Corp. rose 4.8 percent after the parent of Tommy Hilfiger and Calvin Klein reported second-quarter earnings and full-year guidance that topped expectations.

Colorado miner Molycorp powered 12.9 percent higher after saying it was starting new heavy rare-earth concentrate facilities in California.

Lexmark International soared 13.7 percent. The printing and imaging product manufacturer announced it was exiting inkjet printers in a restructuring that will cut 1,700 jobs.

Apple barely retreated from Monday's record high, edging down 0.1 percent. -- AFP

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Isnin, 27 Ogos 2012

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US stocks mixed, Apple hits new highs

Posted: 27 Aug 2012 04:40 PM PDT

NEW YORK: Shares of Apple hit new record highs on Monday after it won its patent lawsuit against Samsung, but overall stocks traded mixed.

Stocks swung from early losses into gains and back again during the see-saw session amid little hard economic news.

The markets were firm "aided by a favourable patent ruling for Apple Inc and some M&A news," Charles Schwab & Co. analysts said, referring to multi-billion dollar deals in the banking and car rental sectors.

The Dow Jones Industrial Average finished down 33.30 points (0.25 percent) at 13,124.67.

The broad-based S&P 500 slipped 0.69 points (0.05 percent) to 1,410.44, while Apple's boost helped the tech-rich Nasdaq to a gain, adding 3.40 points (0.11 percent) to 3,073.19.

Apple shares scored new record highs, reaching US$682.07 before ending at US$675.48, up 1.9 percent. The California gadget maker was awarded US$1.05 billion in damages for patent infringement in a US court victory over Samsung on Friday, in one of the biggest patent cases in decade.

Google, whose Android system is used on Samsung smartphones, fell 1.4 percent.

Auto rental agency Dollar Thrifty jumped 7.5 percent on news that Hertz would pay US$2.3 billion for the company. Hertz shares gained 8.1 percent.

On the Nasdaq, Hudson City Bancorp soared 15.7 percent after announcing a deal to be taken over by M&T Bank Corp. in a US$3.7 billion cash-and-stocks transaction. M&T added 4.6 percent.

Hewlett-Packard led the Dow losers, down 2.1 percent amid ongoing worries about the personal computer market and Apple's continuing strength in consumer electronics. -- AFP

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Sabtu, 25 Ogos 2012

NST Online: StreetsCentral

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Rabu, 4 Januari 2012

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MAS' Newark exit is Emirates' gain: Experts

Posted: 04 Jan 2012 05:50 PM PST

NEW YORK: Many aviation experts and travel agents on the east coast of the United States say that Malaysia Airline's (MAS) loss has become Emirates' gain.

The oblique reference is to the discontinuation since nearly four years of MAS' regular direct flight service between Newark airport in New Jersey, a busy aviation point on the east coast, and KL International Airport.

"We were shocked when MAS first announced that it was discontinuing its Newark operations. There may have, understandably, been economic reasons behind the move but then there are other non-profitable routes that are still operated by the airline.

"After all, the east coast of the United States is the world's most important and indeed prestigious route for airlines, many of which still fly despite low yields.

" Also, the discontinuation of the service was not a good strategic move because if you withdraw once, it is not going to be easy getting back your foothold should you decide someday to come back," said one New York-based travel agent who sold MAS tickets but now sends most of his Malaysia-bound passengers on other airlines, particularly Emirates.

Since MAS pulled out of Newark, other airlines have had a field day in tapping the lucrative Southeast Asian market.

Singapore Airline, which has built up a wide network of connections from New York's JFK and New Jersey's Newark airport to a number of destinations in Southeast Asia, via Singapore, virtually held a monopoly for destinations in the region.

However, Emirates is making an aggressive pitch for Southeast Asia, particularly to Malaysia.

It has become the first airline to operate a scheduled A380 service to Malaysia.

Travel agents in New York point out, not without missing the symbolism, that the airline's flagship flight to Malaysia, operating as EK346, was piloted by a Malaysian national, Capt Kwong Yung Ling, who landed at the Kuala Lumpur international airport last Sunday with a traditional welcome of a water canon salute.

Most Malaysian travellers say they prefer a stopover at Dubai airport because of its incredible shopping opportunities there before taking a connecting flight to KLIA.

Dubai was also a stopover for Newark-bound flights operated by MAS which, later, decided to discontinue that sector and switched to Stockholm en-route to Newark.

Richard Jewsbury, Emirates' senior vice president (commercial operations – Far East and Australasia) said that the airline had been "eagerly awaiting" the start of the Airbus A380 service to Malaysia, "a country that we have been operating flights to since 1996".

"I am sure that this historic milestone in both Malaysian aviation history and in the Emirates' story will further strengthen ties between Malaysia and the United Arab Emirates, in addition to promoting trade and tourism opportunities between the two nations," he recently commented on the launch of the A380 service to Malaysia.

The KLIA has, meanwhile, become the 18th airport being served by the airline's A380 double-decker aircraft. -- Bernama

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UEM Land a top pick of RHBCap

Posted: 04 Jan 2012 05:19 PM PST

UEM Land Holdings Bhd, a Malaysian developer, rose the most in a week in Kuala Lumpur trading after RHB Capital Bhd upgraded the country's property industry to "neutral."

The stock climbed 1.4 percent to RM2.26 at 9:13 a.m. local time, set for its biggest increase since Dec. 27.

UEM Land was among RHB's top picks, according to a report by analyst Loong Kok Wen today. -- Bloomberg

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Ahad, 1 Januari 2012

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Malaysia Dec palm oil exports down 2.6pc

Posted: 01 Jan 2012 06:25 PM PST

Malaysia's palm oil exports fell 2.6 percent in December compared with the previous month, independent market surveyor Intertek said.

A total of 1,493,128 metric tons of the commodity were tracked, versus 1,532,978 tons in November, Intertek said in an e-mailed statement in Kuala Lumpur. -- Bloomberg

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Khamis, 29 Disember 2011

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Cypark climbs on getting landfill job

Posted: 29 Dec 2011 05:15 PM PST

Cypark Resources Bhd, a Malaysian environmental and landscaping services provider, climbed to the highest level in almost a month in Kuala Lumpur trading after winning a RM14.7 million landfill-upgrading contract.

The stock gained 3.6 percent to RM1.46 at 9:02 a.m. local time, set for its highest close since Dec. 5. -- Bloomberg

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Integrated Rubber falls on Q3 net loss

Posted: 29 Dec 2011 05:16 PM PST

Integrated Rubber Corp, a Malaysian glove maker, fell to a one-week low in Kuala Lumpur trading after reporting a third-quarter net loss of RM5.3 million.

The stock dropped 3 percent to 16 sen at 9:03 a.m. local time, set for its lowest close since Dec. 21. -- Bloomberg

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Rabu, 28 Disember 2011

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YTL Power declines on EPF stake selldown

Posted: 28 Dec 2011 06:05 PM PST

YTL Power International Bhd, a Malaysian power producer, fell to a one-week low in Kuala Lumpur trading after the country's biggest pension fund continued to sell down its stake.

The stock dropped 1.1 percent to RM1.78 at 9:25 a.m. local time, set for its lowest close since Dec. 19.

YTL said in in exchange filing yesterday that the Employees Provident Fund disposed of 1.4 million shares on Dec. 22, bringing its total net sales disclosed this month to about 13 million shares. -- Bloomberg

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Alam Maritim gains on securing contract

Posted: 28 Dec 2011 05:23 PM PST

Alam Maritim Resources Bhd, a Malaysian oil and gas services provider, climbed to the highest level in almost three weeks in Kuala Lumpur trading after securing a RM29.8 million (US$9.4 million) offshore transportation and installation contract.

The stock gained 2.7 percent to 76 sen at 9:02 a.m. local time, set for the highest close since Dec. 9. -- Bloomberg

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