Published: 2009/05/19
MALAYSIAN shares are likely to open higher today as investor sentiment improves with Wall Street rallying the day before and crude oil jumping on supply concerns. “There will be an uptrend but how it gets sustained depends on construction stocks and whether the volumes actually improve because so far the gains have been limited to retailers,” said an analyst with an investment bank.
The analyst was looking at construction and engineering stocks such as MRCB, UEM Land and KNM Group. She said planters may tread higher following a likely rebound in crude palm oil prices on the back of higher crude oil. Malaysia’s benchmark stock index ended 0.22 per cent lower at 1,012.01 points yesterday.
US stocks rallied yesterday as better-than-expected results from the No. 2 US home improvement retailer, Lowe’s Cos Inc, helped spark broad-based buying on hopes the recession is easing and consumer spending is stabilising.
The blue-chip Dow Jones Industrial Average leapt 235.44 points (2.85 per cent) to 8,504.08. The tech-heavy Nasdaq added a hefty 52.22 points (3.11 per cent) to 1,732.36 and the broad-market Standard & Poor’s 500 index gained 26.83 points (3.04 per cent) to finish at 909.71. - 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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