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theSun

| THURSDAY JUNE 11 2009

business

KLCI STI Hang Seng SCI

1,082.97 2,391.22 18,785.66 2,816.25

11.18 41.35 727.17 28.36

Nikkei TSEC KOSPI S&P/ASX200

9,991.49 6,462.27 1,414.88 4,024.40

204.67 47.88 43.04 89.50

LONDON: World stocks rose for a second day in a row yesterday as improving economic data in Asia and a weak dollar pushed oil to a fresh seven-month high above US$71 (RM247) a barrel, fuelling gains in resource-related stocks. Two Chinese newspapers reported that factory output in China rose last month at the fastest pace since September last year. If confirmed by official figures tomorrow, this would be a major positive surprise. In Australia, a key measure of consumer confidence posted its biggest monthly rise in 22 years. Signs that the global economy is gradually emerging from the downturn are fanning expectations that demand for energy and commodities will recover, which would help to boost profits in resource-related stocks. “For now investors are choosing to believe that their glass is half full, not half empty and the recovery in share prices is continuing, said Jeremy Batstone-Carr, strategist at Charles Stanley. MSCI world equity index rose 1.2%, edging closer to a

Shares and oil surge on recovery hopes, dollar slips
seven-month high set last week. The FTSEurofirst 300 index rose 1.6%. European banking stocks got support after the US Treasury said on Tuesday 10 big banks will repay US$68 billion (RM237 billion) received under the Troubled Asset Relief Programme, or TARP, to the government. Shares in developing Asia rose more than 3% while emerging stocks rose 2.3%. US crude oil rose as high as US$71.36, driven by a weaker dollar, an American Petroleum Institute report showing a larger-than-expected drop in crude oil stocks and a forecast by the US Energy Information Administration that falling oil demand may have bottomed. Oil has more than doubled from the low US$30s hit in December, although prices are still more than 50% below a record high of US$147.27 (RM513) hit last July. The dollar fell 0.3% against a basket of major currencies as doubts grew about the timing of a possible move by the Federal Reserve to raise interest rates. The currency surged last week after stronger-than-expected US jobs data triggered expectations that interest rates might rise soon. The benchmark 10-year US yield spiked to seven-month highs earlier this week as investors dumped government bonds. – Reuters
AFPPIX

EXCHANGE RATES
Foreign currency

JUNE 10, 2009

Bank sell Bank buy Bank buy

A woman passes in front of a share price board in Tokyo yesterday.

1 US DOLLAR 1 AUSTRALIAN DOLLAR 1 BRUNEI DOLLAR 1 CANADIAN DOLLAR 1 EURO 1 NEW ZEALAND DOLLAR 1 PAPUA N GUINEA KINA 1 SINGAPORE DOLLAR 1 STERLING POUND 1 SWISS FRANC 100 ARAB EMIRATES DIRHAM 100 BANGLADESH TAKA 100 CHINESE RENMINBI 100 DANISH KRONE 100 HONGKONG DOLLAR 100 INDIAN RUPEE 100 INDONESIAN RUPIAH 100 JAPANESE YEN 100 NEW TAIWAN DOLLAR 100 NORWEGIAN KRONE 100 PAKISTAN RUPEE 100 PHILIPPINE PESO 100 QATAR RIYAL 100 SAUDI RIYAL 100 SOUTH AFRICAN RAND 100 SRI LANKA RUPEE 100 SWEDISH KRONA 100 THAI BAHT

TT/OD 3.5460 2.8790 2.4510 3.2230 5.0050 2.2540 1.4310 2.4505 5.8060 3.3000 98.3400 5.5200 N/A 69.2300 46.5600 7.7800 0.0368 3.6550 N/A 58.0000 4.5100 7.6500 98.9400 96.0300 45.3700 3.1900 48.2200 11.1500

TT 3.4810 2.7540 2.3900 3.1450 4.8850 2.1540 1.1950 2.3900 5.6660 3.2190 93.0400 5.2000 N/A 63.6200 44.1000 7.1500 0.0320 3.5660 N/A 53.2200 4.1800 7.1700 94.1200 91.3500 41.7400 2.9300 43.8500 9.4500

OD 3.4710 2.7380 2.3820 3.1330 4.8650 2.1380 1.1790 2.3820 5.6460 3.2040 92.8400 5.0000 N/A 63.4200 43.9000 6.9500 0.0270 3.5560 N/A 53.0200 3.9800 6.9700 93.9200 91.1500 41.5400 2.7300 43.6500 9.0500

Source: Malayan Banking Berhad/Bernama

market summary
KLCI hits 9-month high
INDICES

JUNE 10, 2009 CHANGE

SHARE prices on Bursa Malaysia closed higher yesterday in line with gains in major regional markets like Hongkong and Singapore, dealers said. At 5pm, the benchmark Kuala Lumpur Composite Index (KLCI) hit a nine-month high of 1,082.97, up by 11.18 points or 1.04%, after opening 0.90 of a point higher at 1,072.69. TURNOVER VALUE A dealer said the active 2.210bil RM1.829bil buying on selected stocks was due to positive sentiments in the market while the ample Among the active counters, liquidity continued to bolster the Compugates closed unchanged market. at 7.5 sen, Iris Corp rose 1.5 sen “Investors extended their to 21.5 sen, KNM Group increased buying on hopes that the global two sen to RM1.05 and Kumpulan recession is easing,” he said. Hartanah Selangor gained 7.5 sen “The market is on a gradual to 63.5 sen. up and investors are slowly reAs for the heavyweights, stocking stockpiles,” he added. Sime Darby rose five sen to Gainers outnumbered losers by RM7.05, Maybank increased 20 613 to 144, while 189 counters sen to RM5.65, while Tenaga and were unchanged, 285 untraded Telekom closed flat at RM7.90 and and 36 others suspended. RM2.71 respectively. – Bernama

FBMEMAS 7,284.84 +83.32 COMPOSITE 1,082.97 +11.18 INDUSTRIAL 2,360.92 +11.36 CONSUMER PRODUCT 319.09 +1.09 INDUSTRIAL PRODUCT 87.43 +0.92 CONSTRUCTION 211.60 +4.85 TRADING SERVICES 146.37 +1.47 FINANCE 8,478.51 +142.50 PROPERTIES 756.03 +18.76 PLANTATIONS 5,487.15 + 26.87 MINING 314.10 +10.13 FBMSHA 7,571.17 +78.16 FBM2BRD 4,838.18 + 97.24 TECHNOLOGY 15.51 +0.35

Chrysler, Fiat create new world auto giant
MILAN: Chrysler and Fiat yesterday created a new global auto giant after the US Supreme Court cleared the way for their alliance in a milestone for the world auto industry. “Chrysler Group LLC and Fiat Group announced today (Wednesday) they have finalised their previously announced global strategic alliance ... The new Chrysler will begin operations immediately,” the two companies said in a statement. “This is a very significant day, not only for Chrysler and its dedicated employees ... but for the global automotive industry as a whole,” Fiat chief Sergio Marchionne, named head of Chrysler yesterday, said in the statement. The move completes a quick restructuring of the number three US automaker in a plan orchestrated and backed financially by the US and Canadian governments after the world economic crisis speeded up a decline in the US auto industry. – AFP