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| Today's News Headlines |
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- KLCI-CE will cease trading on 26 Nov 2008 and expire on 28 Nov 2008.
- The European Commission is working with the 27 European Union member states on a EUR130bn (USD164bn) stimulus package to bolster the region's economy.
- India may increase palm oil imports after the government imposed a tax on purchases of crude soybean oil, the main substitute product.
- The European Union is finalising a EUR8m (MYR35m) programme to boost economic collaboration with Malaysia.
- AirAsia has secured financing totalling MYR1.21bn for the purchase of up to eight Airbus aircraft.
- Bursa is in talks with the Turkish and Middle Eastern stock exchanges to help them develop their Islamic capital markets.
- TM International, in partnership with two Iranian companies, is bidding for Iran's third public mobile network licence, which carries a 15-year tenure.
- Foreign demand for U.S. financial assets rose in September as China surpassed Japan to become the largest foreign holder of U.S. Treasuries.
- Toyota will further reduce its vehicle output in North America due to the industrywide slump.
- Malaysia’s total manufacturing sales in September increased by 9.2% y-o-y (13.4% in August) from MYR46.7bn to MYR51bn.
- Malaysia expects to save more than MYR10bn in petrol subsidies next year if oil prices remain stable at current levels.
- Tenaga is planning to construct another 250MW hydroelectric plant in Hulu Terengganu to supplement the escalating energy needs of the nation.
- Bursa’s new trading platform for equities, Bursa Trade Securities (BTS), will be implemented on 1 Dec 08, replacing an 18-year-old SCORE system.
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| Market Review |
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- The KLCI rose 0.18% led by TM International (+0.22), Public Bank (+0.20) and RHB Capital (+0.12).
- The HSI rose 2.93%, led by China Mobile (+HKD2.00), China Construction Bank (+HKD0.22) and HSBC (+HKD1.45).
- Asian Markets Close: KLCI 866.88 (+0.18%), HSI 12,659.20 (+2.93%), STI 1,662.10 (+2.98%) and Nikkei 7,910.79 (+2.70%).
- Toyota's Close: JPY 3080 (+135)
- US Markets Close: Dow 7,552.29 (-5.56%), S&P 752.44 (-6.71%) and NSDQ 1,316.12 (-5.07%).
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