theSun | MONDAY AUGUST 10 2009 15

business

KL market summary

AUGUST 7, 2009
Investors likely to take profit this week
SHARE prices on Bursa Malaysia are ex- the introduction of FTSE Bursa Malaysia ACE
INDICES CHANGE
pected to be lower this week as investors Index on Monday following changes to the
FBMEMAS 8020.99 -3.85 could go on profit taking after the rally the MESDAQ Market as an alternative market for
FBMKLCI 1184.88 0.91 past few weeks, said an analyst. emerging companies of all sizes and sectors.
INDUSTRIAL 2610.85 -0.06
“Local investors may re-enter once new It is now called the ACE Market.
CONSUMER PROD 356.08 -1.03
INDUSTRIAL PROD 91.96 -0.06
market catalysts emerge,” he said. The Main Board and Second Board were
CONSTRUCTION 230.44 1.30 The analyst said one of the factors that also merged into a unified board for estab-
TRADING/SERVICES 156.18 0.23 could affect investors’ decision this week lished companies and is now known as the
FINANCE 9689.03 -19.37 would be the outcome of the US July employ- Main Market. EXCHANGE RATES August 7, 2009
PROPERTIES 781.10 -2.29 ment report. During the week, the local market senti-
PLANTATION 5751.48 -22.04 The report, to be released on Friday, would ment was strong over optimism that the
MINING 350.57 0.00 Foreign currency Bank sell Bank buy Bank buy
be the firmer evidence that the world’s big- global economic slowdown led by the US has
FBMSHA 8239.44 8.34
gest economy has turned the corner. come to an end. TT/OD TT OD
FBMACE 4244.55 35.63 1 US DOLLAR 3.5330 3.4680 3.4580
TECHNOLOGY 16.75 -0.14 On technical outlook, the analyst said, US President Barack Obama said the US
“a close above solid technical resistance of may be seeing the “very beginnings” of the 1 AUSTRALIAN DOLLAR 3.0060 2.8740 2.8580
TURNOVER VALUE 1,200 is what would be needed by the bulls end of the recession as the country was losing 1 BRUNEI DOLLAR 2.4680 2.4070 2.3990
1.014bil RM1.660bil to reach an explosive target”. jobs at half the rate it was at the beginning of 1 CANADIAN DOLLAR 3.2900 3.2090 3.1970
For the week just ended, the market saw this year. – Bernama
1 EURO 5.0900 4.9660 4.9460
1 NEW ZEALAND DOLLAR 2.4010 2.2950 2.2790
1 PAPUA N GUINEA KINA 1.4550 1.2100 1.1940

World pins recovery hopes

from US$174,700 in May.
Analysts remain sceptical 1 SINGAPORE DOLLAR 2.4675 2.4070 2.3990
on the longer-term outlook for 1 STERLING POUND 5.9510 5.8060 5.7860
property prices as stable eco- 1 SWISS FRANC 3.3310 3.2490 3.2340
nomic growth remains vulner-
able to rising unemployment 100 ARAB EMIRATES DIRHAM 97.9000 92.7200 92.5200
and government strategies for 100 BANGLADESH TAKA 5.3400 5.2100 5.0100

on rising house prices

LONDON: For homeowners
around the world struck by the
collapse of property markets,
figures showing the downward
spiral may be halting are the
most meaningful signs yet of a
possible economic recovery.
As battered banks and stocks
rally again, news that US house
prices are finally rising after
nearly three years of traumatic
decline offers the greatest hope
to hard-pressed homeowners
from California to Krakow.
The sub-prime home loan first monthly rise since 2006.
a clean exit from recession after
unprecedented fiscal stimulus.
But that is doing little to
dampen cautious optimism on
property markets.
Official data in China is
100 CHINESE RENMINBI
100 DANISH KRONE
100 HONGKONG DOLLAR
100 INDIAN RUPEE
100 INDONESIAN RUPIAH
N/A
70.4200
46.4000
7.6800
0.0373
N/A
64.6800
43.9400
7.0500
0.0314
N/A
64.4800
43.7400
6.8500
0.0264
crisis in America was the “This is the first time we showing house prices in 70 cities 100 JAPANESE YEN 3.7130 3.6230 3.6130
pressure-point that exposed have seen broad increases in were up 0.8% in June from May, 100 NORWEGIAN KRONE 60.1700 55.2300 55.0300
underlying global financial home prices in 34 months. rising for the fourth straight 100 PAKISTAN RUPEE 4.4000 4.1000 3.9000
chaos – and many economists This could be an indication that month, while real estate invest- 100 PHILIPPINE PESO 7.5500 7.1000 6.9000
say property prices there are home price declines are finally ment nationwide rose 9.9% in
the first half of the year. 100 QATAR RIYAL 98.5300 93.7200 93.5200
the linchpin for confidence in stabilising,” said Standard &
broader economic recovery. Poor’s analyst David Blitzer. In Britain, house prices rose 100 SAUDI RIYAL 95.670 91.010 90.810
US home sales have been Data from the National Asso- by 1.1% in July to just under 100 SOUTH AFRICAN RAND 45.5200 41.6700 41.4700
rising and the latest Standard ciation of Realtors also showed £160,000 (RM944,000) from 100 SRI LANKA RUPEE 3.1900 2.9300 2.7300
& Poor’s/Case Shiller index of the median price of existing US June, but were down 12.1% 100 SWEDISH KRONA 51.2700 46.6100 46.4100
home prices in 20 major US home sales was US$181,600 over 12 months, a survey from 100 THAI BAHT 11.1600 9.4500 9.0500
cities showed a 0.5% increase (RM644,690) in June – 15% home-loans provider Halifax
between April and May – the lower than a year ago, but up showed this week. – AFP Source: Malayan Banking Berhad