October 22, 2009

Quiet Ahead Of Budget Day

Shares on Bursa Malaysia drifted in directionless trading, with the FBM KLCI moving in and out of positive territory throughout the day and ending at 1,260.02, down 0.04 pts. Today’s key highlights include Bank Negara’s international reserves rose to RM334.2bn, Malaysia Airports may give cash incentives, Green Packet is set to secure a WiMAX broadband licence in Singapore, Bumi Armada buys vessel at US$46m, Notion VTec proposes a private placement and CIMB-Mapletree buys Patimas Computers’ HQ for RM60m. Overnight, the DJIA raced up 131.95 pts to 10,081.31 as better-than-estimated earnings from Travelers Co to McDonald’s Corp fuelled speculation that the worst recession since the 1930s is over.


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