KLSE closes on Friday (1 Feb) for another holiday (Federal Territory Day).
Meanwhile, the global market roller-coaster ride continues. And this time, the train is heading upward. S&P's earlier announcement to cut some of its AAA credit ratings was met by a timely rebuttal from MBIA's CEO.
From Bloomberg:
U.S. stocks rose, sparing the Standard & Poor's 500 Index from its worst January ever, after the world's largest bond insurer said it expects to keep its AAA credit rating. Benchmark indexes rebounded from losses after MBIA Inc. Chief Executive Officer Gary Dunton's comments sparked a rally in bank shares.
MBIA added 73 cents, or 5.2 percent, to $14.69 after Dunton said the insurer has more than enough capital to keep its AAA credit rating and dismissed speculation the company may go bankrupt. He blamed ``fear mongering'' and ``distortion'' for driving the company's stock down more than 80 percent in the past year.
Meanwhile, the global market roller-coaster ride continues. And this time, the train is heading upward. S&P's earlier announcement to cut some of its AAA credit ratings was met by a timely rebuttal from MBIA's CEO.
From Bloomberg:
U.S. stocks rose, sparing the Standard & Poor's 500 Index from its worst January ever, after the world's largest bond insurer said it expects to keep its AAA credit rating. Benchmark indexes rebounded from losses after MBIA Inc. Chief Executive Officer Gary Dunton's comments sparked a rally in bank shares.
MBIA added 73 cents, or 5.2 percent, to $14.69 after Dunton said the insurer has more than enough capital to keep its AAA credit rating and dismissed speculation the company may go bankrupt. He blamed ``fear mongering'' and ``distortion'' for driving the company's stock down more than 80 percent in the past year.
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