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Thesun 2009-05-05 Page13 Ci Breaches 1000 Point Psychological Barrier
Thesun 2009-05-05 Page13 Ci Breaches 1000 Point Psychological Barrier
1,009.36 S
18.62 Nikkei CLOSED
business KLCI
STI 2,028.71 108.43
S TSEC 6,330.40 337.83
S
Hang Seng 16,381.05 860.06
S KOSPI 1,397.92 S
28.56
SCI 2,559.91 S
82.34 S&P/ASX200 3,883.00 113.40
S
INDICES CHANGE
Prices up on improved sentiment FBMEMAS
COMPOSITE
6,684.41
1,009.36
+142.55
+18.62
SHARE prices on Bursa RM8.55 and Public Bank rose seven sen to 64.5 sen, INDUSTRIAL 2,277.64 +21.54
Malaysia continued the bull 20 sen to RM8.55. while TA-WB and Ramunia CONSUMER PROD 303.63 +0.31
run yesterday on improved The dealers said the increased 1.5 sen each to 4.5 INDUSTRIAL PROD 76.09 +1.77
CONSTRUCTION 195.56 +5.96
sentiment with strong buying market started the day on sen and 63 sen respectively TRADING SERVICES 136.35 +2.61
interest in selected blue chips a strong note in view of im- and Palette edged up one sen FINANCE 7,728.84 +189.81
especially financial counters, proving health in the global to five sen. PROPERTIES 630.12 +8.84
dealers said. economy. Of the heavyweights, PLANTATIONS 5,060.15 +78.31
The KLCI cloded 18.62 Gainers outnumbered los- Sime Darby advanced 10 sen MINING 273.57 +18.24
points higher at 1,009.36 after ers by 536 to 153 while 156 to RM6.70, Tenaga was flat FBMSHA 7,014.22 +127.45
opening 2.14 points higher at counters were unchanged, at RM7.35, IOI Corp added FBM2BRD 4,326.13 +20.40
TECHNOLOGY 13.58 +0.68
briefs
999.44 in the morning. 393 untraded and 36 others 12 sen to RM4.42, MISC
Maybank closed 12 sen suspended. increased 10 sen to RM8.60 TURNOVER VALUE
higher at RM4.46, Bumiputra- Topping the most active and Axiata jumped 15 sen to
1.748bil RM1.619bil
Commerce added 50 sen to list was KNM which rose RM2.35. – Bernama
ADB and China Eximbank
sign US$3bil pact
NUSA DUA: The Asian Development Bank and the Ex-
psychological barrier
the multilateral lender said.
The three-year agreement signed at the bank’s annual
board of governors meeting on Indonesia’s Bali island will
take effect from next month, it said.
“Access to sanitation, power and transportation links
is still very poor in many parts of Asia. Massive amounts
of funds are needed to address that if we are to reduce
poverty in the region,” ADB vice-president Ursula Schaefer-
KUALA LUMPUR: Rising optimism over Among the stirring news was the announce- Investors will also get a clearer picture of the Preuss said.
the improving health of the global economy ment of RM5 billion for Valuecap Sdn Bhd to buy US job market on Friday with the release of the “This agreement with China Eximbank will ensure
plus strong gains on heavyweights led to the undervalued stocks in the local bourse. This was April unemployment report, he said. funds get systematically directed towards those and
benchmark KLCI breaching the 1,000-point followed by the second stimulus package, while “Late last year, foreign selling was at its other urgent projects that will help the region weather
psychological barrier yesterday. Bank Negara Malaysia also did a string of rate peak. the current global downturn.” – AFP
The CI ended 18.62 points higher at 1,009.36 cuts, and further liberalised the services sector. “Foreign investors do nibble on their small
yesterday. The last time Bursa Malaysia hit the The political situation in the country has also positions but are yet to re-enter the KL market SingTel wins A$500mil
above-1,000 level was in October last year. taken a turn for better. in a major way. Foreign funds view Malaysia
Some analysts are now projecting the CI to The government continued with its efforts to as slightly expensive compared with other contract with ANZ Bank
touch 1,077 points by next month. boost investment and make the services sector markets. MELBOURNE: Singapore Telecommunications (Sing-
However, Shahrul Kamal Ramli, who is with more competitive. “Signs of moderation in the pace of decline Tel) has won a A$500 million (RM1.3 billion) contract
equity sales for Macquarie Securities Group, said “The decisions came amid official warnings in economic activities have emerged and the to provide communication services to ANZ Banking
technical indicators and the flood of liquidity in that the economy could shrink by as much as domestic economy is expected to improve in the Corp.
the market seemed to point towards a modest 1% this year.” second half of the year. Until then, the key buyers SingTel and its Australian entity Optus will work
room for upside before correction sets in. Malaysia was also hard hit by the global of KL market remain mostly local,” he said. with ANZ in Australia and 30 other countries in the
“KLCI had a strong run-up since March. We economic crisis, with exports down 15.9% in Jupiter Securities Sdn Bhd head of research Asia Pacific region for five years under the contract,
are now in a base-building process where most February from a year ago. Pong Teng Siew said the local market had en- the Australian Associated Press (AAP) said.
emerging markets may confirm the extending Shahrul said liberalising the services sector tered into a small bull run since March this year SingTel said it would transform ANZ’s network
uptrend towards year-end as falling interest was also a good move. “The services sector with 20% increase in the CI. infrastructure to improve its global communication,
rates and easing inflation make equities more is the largest, contributing 55% to Malaysia’s “The uptrend in the KLCI is likely to continue providing one platform for the delivery of voice, data
attractive than before,” he told Bernama yes- gross domestic product last year.” until middle of the year, supported by improving and managed services to ANZ’s 34,000 staff across
terday. The move to rely on services to contribute liquidity in the market,” he told Bernama in a the region.
“While an intermittent correction is still likely, at least 60% is crucial as it would lessen the telephone interview. The company will deploy over 20,000 IP (internet
the increasingly positive sentiment worldwide country’s reliance on electronics exports and He said the additional units of Amanah protocol) telephones and 40 video conferencing
prompts any market dip as a chance to buy on commodities, Shahrul said. Saham Wawasan 2020 and Amanah Saham units.
weakness,” he added. However, he said despite the present Malaysia announced by Permodalan Nasional In Australia, Optus will oversee the implementa-
Shahrul said the global markets had positive sentiment, global equities markets may Bhd recently helped to boost the market. tion of a new data network to over 850 ANZ retail
strengthened as investors chose to focus only turn volatile later this week when the Federal “A lot of funds in the market will make a branches, and manage its call centre infrastructure.
on positive economic data while ignoring the Reserve is scheduled to release its findings on difference. If the index keeps on rising, there’s SingTel’s executive vice-president of business Bill
negative and Malaysia too had a fair share of bank stress tests, which will show how many a chance investors will invest in new funds,” Chang said the contract win solidified the telco’s
market-moving news. US banks lack sufficient reserves. Pong said. – Bernama position in Asia. – Bernama