Written by Joseph Chin
Saturday, 25 July 2009 21:16
KUALA LUMPUR: The firmer close on key Asian markets and the US over the past week could provide more impetus for investors to pick up the riskier equities.
The buying interest would also be underpinned by state-linked funds' recent acquisitions of blue chips ahead of more fund launches.
Over past four weeks, Bursa market capitalisation had risen RM53 billion from RM818 billion a month ago to RM871 billion as of Friday.
However, as InsiderAsia has analysed that while it is clear the worst for the global economy is already behind us, the road to recovery will take some time to unfold.
"The US labour market remains weak and consumers continue to repair their battered balance sheets by building up savings," it said in a report.
Stocks to watch again on July 27 include companies linked to low-profile billionaire T Ananda Krishnan including Measat and Astro as speculation continues over a relisting of Maxis and the spinning off of Astro's overseas operations.
Tanjong plc, which is also linked to Ananda Krishnan, could also see trading interest. Tanjong plc has stated it has not plans to dispose of its gaming business at the moment, but does not rule out a sale should an appealing offer crops up.
MULTI-PURPOSE HOLDINGS BHD [] could see volatile trading after its share buyback of 1.86 million shares on July 24 triggered a price surge, sending its share price up 11.25% or 17 sen to close at RM1.68.
IOI Corp, which saw its share price retreat 12 sen or 2.41% after announcing a rights issue, could continue to see some selling pressure.
In the Lion Group, major shareholder Tan Sri William Cheng Heng Jem has stated his intention to deal in the securities of Parkson Holdings pending the announcement of the fourth quarter results ended June 30.
In Axiata group, the Employees Provident Fund Board had acquired 7.04 million shares and disposed of 2.98 million shares from July 17 to 20. The recent transactions raised its shareholding to 1.426 billion shares or 17%.
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