SHARES are set for a soft opening today after US stocks fell on warnings of a stricter oversight for Wall Street and uncertainty over Washington’s plan to shore up the banking system. The Dow Jones industrial average fell 1.09 per cent at 7,270.89 and the Standard & Poor’s 500 Index was down 1.07 per cent at 764.90.
“The market has so far risen without any corresponding positive change in fundamentals. These gains are unsustainable,” said an institutional dealer at a local investment bank. Wall Street’s volatility will keep most local investors sidelined, she said.
Traders’ attention will continue to focus on the remaining companies that have yet to release their earnings reports. Flag carrier Malaysia Airlines, top palm planter Sime Darby and mobile phone firm TM International are scheduled to release their quarterly earnings later this evening, while Malaysia’s top lender Maybank is scheduled to announce its first-half results tomorrow. Malaysia’s benchmark stock index ended 0.27 per cent higher at 896.51 points yesterday. - Reuters
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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