As of 3 December 2007, DJIA closed the day with:

13,314.57 -57.15 -0.43%

Record close for KL Composite Index

PETALING JAYA: The KL Composite Index (KLCI) leapt to a new high yesterday, with sustained interest in newly-listed Sime Darby Bhd and a potential re-rating on blue chip laggard Tenaga Nasional Bhd (TNB) providing the market with a major boost.

The benchmark index was also bolstered by Telekom Malaysia Bhd's sharp gain to its highest level in almost three years. Top banking stocks Malayan Banking Bhd and Public Bank Bhd also contributed to the index rise.

The 100-strong KLCI gained 22.36 points, or 1.6%, to 1,419.34 yesterday - its highest closing level ever. The index hit an intra-day record of 1,423.81 on Nov 1 this year.

However, the broader market was in a sombre mood, with the lack of fresh leads to spur buying interest from retail investors.

Rising stocks edged decliners 416 to 406 with 279 counters unchanged. Total market volume stood at 858 million shares valued at RM1.8bil.

The FTSE Bursa Malaysia Small Cap Index, which tracks the performance of main board stocks outside the top 100 companies, slipped 0.04% to 11,788 points.

"The focus is on quality counters, as investors are getting cautious about their outlook on equities with so many uncertainties around,'' a dealer at a local brokerage said.

Sime Darby, the enlarged conglomerate listed last Friday, gained 50 sen to RM11.50. The group, which is the most valuable company on Bursa Malaysia, is a "must have" for portfolio managers tracking the performance of the KLCI.

Rising stock prices - yesterday's gain added to the KLCI's six-day winning streak - also strengthened the ringgit by 0.2% to 3.355 yesterday against the US dollar.

Meanwhile, shares in TNB received a boost yesterday on positive comments by the Second Finance Minister, and the perception that the utility firm was undervalued at current prices.

Despite TNB's 45 sen advance yesterday to RM9.70, the stock remained 11% lower for the year. To compare, the KLCI had risen 29% over the past 11 months.

According to Bloomberg's data, 90% of 30 analysts who tracked TNB rated the stock a "buy", with 20% to 30% upside potential from yesterday's closing price.

TNB had also proposed to lift the 25% voting cap for foreign shareholders, and this could boost the stock's appeal in the longer run.

Elsewhere, investors' sentiment remained fragile despite the country's economy growing at a faster rate than expected and strong quarterly earnings reported by local companies in the recently-concluded third-quarter results reporting season.

The recent spike in share prices are also likely to attract some profit taking in the coming days.

Elsewhere in the region, the equity markets were mixed yesterday with main barometers rising in Hong Kong, Australia, India, Singapore and Indonesia but were lower in Japan, Taiwan, South Korea and Thailand.

Crude oil price stayed below US$89 per barrel ahead of the US trading session yesterday. With crude oil on the retreat from near US$100 per barrel, traders expect price of crude palm oil (CPO) to fall in tandem.

The benchmark CPO futures contract traded on Bursa Derivatives narrowed earlier sharp losses to close at RM2,926 per tonne, down RM4 yesterday.

URL: http://biz.thestar.com.my/news/story.asp?f...22&sec=business

ooo v8~~ passing by and park my nick

How to pin this?

yeah, dreams_achiever reporting-in....
time to sell stocks? DJ closed in RED

these days investing in shares is a struggle.

Yeah....but the problem is can't stop playing stock market

wow congratz, new thread, new start!

yeah..... it surely is addictive

Hopefully.....last month really a struggle....just between breakeven or manage to get profit from some, while some still losing

TENAGA is having difficulty to break 10.00 and go above it

need some more news to push it up perhaps

is there other good website to track stock beside cimb itrade?

withdrawn all the credit in the account..... then you can see cannot click..
hahaha.

So, that's the solution to curb the addiction

definitely addicted..

If like this better don't see, we need to play real thing ma

Anyone know Air Asia exercise any option today? i see a sudden drop from 1.9x to 1.3x

Found it


This post has been edited by JimJimKC: Dec 4 2007, 09:33 AM

wah....completely swallowed by the market

btw, how much did you get Resorts? 3 wks ago, it was reported that "one day" Genting might take over it. True or not is left to be seen but it was not denied.

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Added on December 4, 2007, 9:31 amMana ada? AASIA & AIRASIA is different counter.

This post has been edited by sharesa: Dec 4 2007, 09:31 AM

Aeon Credit sees over subscription of 25.5x

KUALA LUMPUR: Aeon Credit Service (M) Bhd saw an over-subscription by 25.2 times for its public issue of six million shares for the Malaysian public.

A total of 36,317 applications were received for 157,211,900 shares, Malaysian Issuing House said in a statement.

The company, en route to a main board listing, made an offer for sale of 20 million existing ordinary shares and a public issue of 22 million new shares of 50 sen each at an offer price of RM2.50 a share. - Bernama

Haha... stupidly i go bursa and i thought i found it... haha you really know what counter im looking at... need more coffeeeeeeee