Daily Commentaries 6th September 06
OSK Research
As expected, the market’s fine run ended its course yesterday with the emergence of profit taking activities. Headlines today include Genting making a RM4bn bid for Stanley leisure following Harrah’s bid for London Clubs International (LCI). Also, Proton plans to speed up its revival plan by year end and decide if it wants a foreign or local partner. Besides that, AirAsia has made a bid for the lucrative KL-SIN route and expects to launch flights next year. July exports unveiled last night came in above our expectations with 16% growth marking a 16 month high. The Dow last night closed firmer on further softening in oil prices as well as the Fed saying that inflation remained under control. The market may consolidate further today in search of new leads. Further support is seen at the 960 level.
As expected, the market’s fine run ended its course yesterday with the emergence of profit taking activities. Headlines today include Genting making a RM4bn bid for Stanley leisure following Harrah’s bid for London Clubs International (LCI). Also, Proton plans to speed up its revival plan by year end and decide if it wants a foreign or local partner. Besides that, AirAsia has made a bid for the lucrative KL-SIN route and expects to launch flights next year. July exports unveiled last night came in above our expectations with 16% growth marking a 16 month high. The Dow last night closed firmer on further softening in oil prices as well as the Fed saying that inflation remained under control. The market may consolidate further today in search of new leads. Further support is seen at the 960 level.
posted by nomadhunter at 8:07 PM
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