WATCH OUT TOMORROW FOR RCE CAP, SHOULD I BUY MORE?????
CURRENTLY HAVE 30 lots average at 0.63.
Written by Joseph Chin
Sunday, 09 August 2009 00:24
KUALA LUMPUR: Asian markets and Bursa Malaysia are expected to start off on a strong note on Aug 10, underpinned by the firm sentiment on Wall Street as an upbeat US July jobs data drove Wall Street higher.
The Dow Jones industrial average closed 1.23% higher at 9,370.07. The Standard & Poor's 500 Index advanced 1.34% to 1,010.48 while the Nasdaq Composite Index rose 1.37% to 2,000.25.
Equities are expected to attract more investors, following up from the previous week. According to EPFR Global, Asia ex-Japan Equity Funds remained the biggest money magnets among the four major EPFR Global-tracked emerging market equity fund groups during the first week of August.
EPFR said the diversified Global Emerging Markets (GEM) Equity Funds absorbed US$424 million, Latin America Equity Funds US$203 million and EMEA Equity Funds US$105 million.
"While flows into BRICs (Brazil, India and Russia) markets and BRIC Equity Funds remained solid, China ’s role was not as pronounced in early August, with China Equity Funds taking in a net US$18 million compared to US$45 million for Russia Equity Funds, US$89 million for Brazil Equity Funds and US$125 million for India Equity Funds.
"The inflow streak for dedicated BRIC Equity Funds, meanwhile, now stands at 20 weeks and US$2.43 billion," it said.
EPFR tracks traditional and alternative funds domiciled globally with US$10 trillion in total assets.
At Bursa Malaysia, stocks to watch include HAP SENG CONSOLIDATED BHD [ HAPSENG 2.550 0.010 (0.394%) ], AMMB HOLDINGS BHD [ AMMB 4.150 -0.120 (-2.810%) ], RCE Group Bhd, The New Straits Times Press (M) Bhd and KENCANA PETROLEUM BHD [ KENCANA 1.960 -0.010 (-0.508%) ].
Hap Seng is buying a 50% stake in Menara Citibank for RM303.5 million from Singapore's CapitaLand Ltd and Amsteel Corporation Bhd. The acquisition is crucial for Hap Seng as it seeks to expand its assets.
AMMB Holdings Bhd would be in focus ahead of the release of its first quarter FY2010 results on Aug 11.
NSTP would continue to be in focus on expectations of a privatisation of the company or a demerger.
As for RCE Group, it posted a 36% increase in its net profit at RM18.5 million from a year ago. Revenue rose 42.2% to RM66.98 million on year and 16% on-quarter.
RCE's net loan receivables exceeded RM1.0 billion, surging 33% from a year ago due to the group's marketing and product development efforts to achieve greater market penetration.
Kencana should see trading interest after its unit secured a RM46 million contract from Newfield of the US.
Meanwhile, MRCB and Pelaburan Hartanah Bhd will officially launch Lot G Integrated Development-Retail Mall, KL Sentral.
Subscribe to:
Post Comments (Atom)
2 comments
Hi ck, don know ler whether good to chase the RCE or not at this stage... i think RCE is good for trade play but not for long hold, how u think?
I read what you find, interesting