KLCI closed 0.32 per cent lower at 1,384.08
BNP Paribas SA's earnings (missed analyst estimates), Goldman Sachs Group Inc. profit forecasts for European carmakers (slashed!) and Yahoo! Inc.'s sales outlook (disappointing) are some of the reasons weighing down market sentiment today. The only fresh hope for market direction and sentiment is tonight's Fed rate cut announcement. But what will it be this time, 25 or 50 basis points?
Other notable local headlines:
EON Capital Bhd., the Malaysian bank specializing in car loans, jumped the most in six months on the Kuala Lumpur stock exchange after Primus Pacific Partners 1 LP won the approval to buy 20 percent of the lender. Malaysian automaker DRB-Hicom Bhd. said yesterday it won the government's approval to sell its 20 percent stake in EON Capital to Primus Pacific, a Hong Kong investment group. The Star newspaper has said DRB will sell the EON shares for 9 ringgit each, valuing the stake at 1.25 billion ringgit.
BNP Paribas SA's earnings (missed analyst estimates), Goldman Sachs Group Inc. profit forecasts for European carmakers (slashed!) and Yahoo! Inc.'s sales outlook (disappointing) are some of the reasons weighing down market sentiment today. The only fresh hope for market direction and sentiment is tonight's Fed rate cut announcement. But what will it be this time, 25 or 50 basis points?
Other notable local headlines:
EON Capital Bhd., the Malaysian bank specializing in car loans, jumped the most in six months on the Kuala Lumpur stock exchange after Primus Pacific Partners 1 LP won the approval to buy 20 percent of the lender. Malaysian automaker DRB-Hicom Bhd. said yesterday it won the government's approval to sell its 20 percent stake in EON Capital to Primus Pacific, a Hong Kong investment group. The Star newspaper has said DRB will sell the EON shares for 9 ringgit each, valuing the stake at 1.25 billion ringgit.
MTD Capital Bhd is in final talks with the Sri Lankan Government on the proposed RM2.2bil Colombo-Kandy toll road project. Group executive chairman Datuk Nik Hussain Abdul Rahman said that the company hoped to secure the project by the end of the first quarter. (TheStar)
CITI Investment Research is maintaining its "sell/low risk" rating on AMMB Holdings Bhd, citing slower-than-expected operating improvements. The foreign-owned research house is lowering its target price for AMMB shares to RM3.55. In a report, it said industry competition should limit net interest margin (NIM) expansion going forward, and AMMB's third-quarter results have highlighted the challenging environment to bring in low-cost current account and savings account deposits and reduce credit costs.
No comments:
Post a Comment