Daily Commentaries 19th October 2009

The FBM KLCI ended higher by 9.91 points at 1,256.77 in tandem with bullish sentiment on the global market’s performance. The Securities Commission has rejected Tradewinds (M) Bhd’s application for exemption from making a mandatory general offer for Bernas. Bursa Malaysia’s 3QFY09 net profit of RM30.8m was 52.4% higher y-o-y, contributed by trading revenue from the securities market. RHB Capital Bhd has requested its shares to be suspended today, possibly in relation to a regional M&A. Finally, US stocks closed lower on Friday after disappointing results from General Electric Co and Bank of America Corp, indicating that the economic recovery may take longer than expected. Crude oil price, however, ended higher by US$0.95 to US$78.53 on a weaker US$.