Malaysia News & Highlights Market The mid-day market jumped to close at 1,790.40 or 19 points higher. The favourable performance was in line with regional peers which was sparked by Federal Reserve’s announcement to refrain from stimulus tapering just yet. We opine this as a positive message to investors as it eased concerns of a flood of money outflows especially for the Asian markets. Company News Tiong Nam Logistics (+4.46%) – The group plans to undertake a share split and a right issue of warrants. Focal Aims (+7.98%) – Continued to rally, after Eco World Development’s takeover offer of RM1.40. Berjaya Corp (+2.63%) – The approval of its unit BAuto to the main market listing. Kumpulan Perangsang Selangor (-0.84%) – Its special dividend of 26.67 sen/share will go ex on 2 Oct. International News Asian stocks jumped to a four-month high, bond yields and credit risk declined while industrial metals rallied after the Federal Reserve unexpectedly refrained from reducing U.S. economic stimulus. Hong Kong stocks rose, with the benchmark index headed for its highest in more than seven months, after the Federal Reserve unexpectedly refrained from cutting record stimulus. Japanese stocks rose, with the Topix index advancing to an eight-week high, after the Federal Reserve unexpectedly refrained from cutting stimulus. Malaysia’s ringgit and Thailand’s baht led a surge in Asian currencies after the Federal Reserve unexpectedly refrained from cutting monetary stimulus that has fueled demand for emerging-market assets.
Posted on: Thu, 19 Sep 2013 08:45:08 +0000
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