Daily Commentaries 15th Sep 06
OSK Research
Technical View
The KLCI spiked-up breaking through the 957 barrier yesterday in the last half hour of trade. Notable gainers yesterday include palm oil proxies, IOI, KLK and Ghope as CPO prices saw a slight advancement. News for today include Muhibbah Engineering securing a RM581m project for works at a liquefied natural gas (LNG) loading jetty in Yemen. Also MRCB may see interest today after finalising a multi million contract in the Middle East. KPJ is also looking overseas and is actively bidding for hospital management contracts in the ASEAN region. Besides that, more banking M&A action appears as Canada’s Bank of Nova Scotia plans to bid for financial group RHB after an offer by EPF was rejected by Utama Banking Group. With a considerable amount of positive news flows for today and oil futures retracing below the US$64 level, there is a positive bias on the market today.
Technical View
The KLCI spiked-up breaking through the 957 barrier yesterday in the last half hour of trade. Notable gainers yesterday include palm oil proxies, IOI, KLK and Ghope as CPO prices saw a slight advancement. News for today include Muhibbah Engineering securing a RM581m project for works at a liquefied natural gas (LNG) loading jetty in Yemen. Also MRCB may see interest today after finalising a multi million contract in the Middle East. KPJ is also looking overseas and is actively bidding for hospital management contracts in the ASEAN region. Besides that, more banking M&A action appears as Canada’s Bank of Nova Scotia plans to bid for financial group RHB after an offer by EPF was rejected by Utama Banking Group. With a considerable amount of positive news flows for today and oil futures retracing below the US$64 level, there is a positive bias on the market today.
posted by nomadhunter at 7:37 PM
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