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theSun | WEDNESDAY JULY 15 2009  15

business KLCI
Hang Seng 17,885.73 631.10 KOSPI 1,385.56 7.44
SCI 3,145.16 64.60 S&P/ASX200 3,867.10 129.60

KL market summary
JULY 14, 2009
FBMEMAS 7,280.00
KL shares up on Wall Street rally
FBM-KLCI 1,079.63 + 15.9 SHARE prices on Bursa Malaysia ended firmer with the Wall Street rally overnight which was
INDUSTRIAL 2,374.37 + 6.88 yesterday on technical rebound with finance driven by hopes of positive banks’ earnings,”
CONSUMER PRODUCT 321.97 + 1.48 stocks among the major gainers, as the said one of the dealers.
INDUSTRIAL PRODUCT 84.52 + 1.32 overnight rally on Wall Street helped to boost The dealer said the encouraging gain on
CONSTRUCTION 206.23 + 2.53
market sentiment locally, dealers said. Wall Street could be the ammunition needed
TRADING SERVICES 144.13 + 1.47
FINANCE 8,698.48 +179.42
The benchmark FTSE Bursa Malaysia KLCI by the regional market, including the local
PROPERTIES 701.22 + 14.14 rose 15.97 points or 1.5% to close at 1,079.63, bourse especially after the recent slump.
PLANTATIONS 5,317.57 + 76.24 off its trading low of 1,063.66. The key index Nevertheless, he said the Wall Street gain
MINING 275.60 unch had opened unchanged at 1,063.66. was only a temporary support as the market
FBMSHA 7,512.89 +107.77 In lifting the key index, Bumiputra-Com- was fundamentally still weak amid concerns EXCHANGE RATES July 14, 2009
FBM2BRD 4,744.95 + 46.76 merce and Public Bank climbed 30 sen each over the global economic recovery.
TECHNOLOGY 14.75 + 0.28
to RM9.50 and RM9.70 respectively and “There are still many technical indicators Foreign currency Bank sell Bank buy Bank buy
TURNOVER VALUE Hong Leong Financial Group added 19 sen to that support an easier trend on the stock mar- TT/OD TT OD
788.982mil RM1.106bil
RM5.05. ket through this third quarter, which is histori- 1 US DOLLAR 3.6160 3.5510 3.5410
“The local bourse gains were in tandem cally a weak quarter,” he added. – Bernama
1 AUSTRALIAN DOLLAR 2.8720 2.7470 2.7310
1 BRUNEI DOLLAR 2.4880 2.4260 2.4180
1 CANADIAN DOLLAR 3.1530 3.0770 3.0650

China stonewalling as ‘spy’

1 EURO 5.0790 4.9560 4.9360
1 NEW ZEALAND DOLLAR 2.3250 2.2210 2.2050
1 PAPUA N GUINEA KINA 1.5000 1.2550 1.2390
Her 1 SINGAPORE DOLLAR 2.4875 2.4260 2.4180
1 STERLING POUND 5.9090 5.7660 5.7460
1 SWISS FRANC 3.3550 3.2730 3.2580

probe widens: Australia

100 ARAB EMIRATES DIRHAM 100.2200 94.9200 94.7200
pg 17 100 BANGLADESH TAKA 5.3400 5.2100 5.0100
100 DANISH KRONE 70.2400 64.5500 64.3500
100 HONGKONG DOLLAR 47.4900 44.9800 44.7800
100 INDIAN RUPEE 7.6600 7.0400 6.8400
100 INDONESIAN RUPIAH 0.0371 0.0314 0.0264
SYDNEY: Australia said yesterday it was allegations against Hu but says it can prove lightly, and rejected calls to raise Hu’s case 100 JAPANESE YEN 3.8980 3.8040 3.7940
struggling to obtain more information about he was involved in bribery during the iron at a higher level. 100 NORWEGIAN KRONE 57.6200 52.8900 52.6900
a mining executive detained in China, as ore talks, accusing him of causing “huge The arrests come just weeks after Anglo-
100 PAKISTAN RUPEE 4.5100 4.1700 3.9700
Beijing widened its industrial espionage losses” to the country. Australian mining giant Rio Tinto snubbed
probe surrounding fraught iron ore talks. Smith said Australia had complained to a massive cash injection from a Chinese 100 PHILIPPINE PESO 7.6500 7.1900 6.9900
Foreign Minister Stephen Smith warned China about the lack of information after state-owned company, prompting angry 100 QATAR RIYAL 100.8900 95.9700 95.7700
Australia would remain involved in the officials were forced to scan government comments in official media. 100 SAUDI RIYAL 97.9400 93.1700 92.9700
case of Rio Tinto executive Stern Hu for websites and public statements for informa- The developments have cast a shadow 100 SOUTH AFRICAN RAND 45.4400 41.8000 41.6000
the “long haul” after a third meeting with tion about Hu’s arrest. over a vital trade relationship for resource- 100 SRI LANKA RUPEE 3.2700 3.0000 2.8000
China’s acting ambassador failed to yield “I’ve made it crystal-clear as have our rich Australia, whose dealings with China
100 SWEDISH KRONA 47.7200 43.3300 43.1300
further details. officials, that I would have much preferred were worth US$58 billion (RM205.9 billion)
“No, and that’s why we pressed them this information be given to us through the last year. – AFP 100 THAI BAHT 11.3600 9.6300 9.2300
both in Canberra and in Beijing,” Smith normal diplomatic channels,” Smith said. Source: Malayan Banking Berhad/Bernama
told public broadcaster ABC, when asked if “(The case) requires constant attention,
more information had been provided dur- which is what we’re giving it. It may well
ing Monday’s talks.
“But I’ve made the point in recent days,
see Australia in this matter for the long
haul, and we need to take this step by step,
Turkey signs big Europe gas pipe deal
despite some people thinking that somehow in a detailed, methodical, sensible, rational ANKARA: Turkey signed a landmark deal with uncertainty over who will supply the gas.
this difficult issue can be magically solved way,” he added. four EU countries on Monday to pipe gas from the It is due to pump billions of cubic metres from
by one phone call, this is a difficult and Analysts say Hu’s arrest has sent tremors Caspian region, reducing Europe’s reliance on Rus- the Caspian Sea to Austria via Turkey and the Bal-
complex case.” through the international business com- sian deliveries and rivalling Moscow’s own pipeline kans, bypassing Russia which has been accused of
Chinese media said five big steel firms munity and shows the potential risks of do- project. using gas as a weapon by cutting it off in disputes
were now being investigated in connection ing business with China, the world’s third The US hailed the signing of the accord by with its neighbours.
with the arrest of Australian passport-holder largest economy. the prime ministers of Austria, Bulgaria, Hungary, The project “is of crucial importance for the EU’s
Hu and three Chinese colleagues by counter- Hu’s arrest has also created a political Romania and Turkey – a milestone in the Nabucco and Turkey’s energy security,” European Commis-
espionage agents in Shanghai on July 5. and diplomatic headache for Mandarin- pipeline project much delayed by lack of commit- sion chief Jose Manuel Barroso said.
The China Daily reported that officials speaking Prime Minister Kevin Rudd, who ment from gas-exporting nations. The deal drew criticism however from environ-
from the China Iron and Steel Association, has made improving relations with Beijing The 3,300km conduit is supposed to become mental group Greenpeace, which urged countries
which had been locked in fraught iron ore a priority. operational in 2014 at an estimated cost of €7.9 to invest instead in cheaper clean energy such as
contract negotiations with Hu, were also Treasurer Wayne Swan denied Australia billion (RM38.7 billion), but there was still lingering wind and sun power. – AFP
being probed. China has not outlined the had taken its dealings with the Asian giant

The US budget deficit topped

Strong growth suggests
US$1 trillion for the first nine month
of the financial year as President
Barack Obama ramped up spending
Singapore emerging
to counter the recession
2000: 2008:
from recession
US$236.2bil US$459bil SINGAPORE: Singapore said slump since gaining statehood in
100 surplus deficit yesterday its economy grew for the 1965.
first time in a year in the second It became the first Asian economy
quarter, suggesting the city is emerg- to slip into recession in the second
-100 ing from its worst recession and of- half of last year after a financial
fering hope for other battered Asian and economic crisis that started in
-200 economies. the United States hit demand for its
Powered by electronics and exports.
-300 1993: biomedical exports, the economy Yesterday’s data meant that
Clinton soared 20.4% in the three months to Singapore is the first of the Asian
-400 June compared with the first quarter countries hit by recession to release
-500 US$255.1bil on a seasonally adjusted annualised statistics pointing to a recovery.
deficit basis, the Ministry of Trade and Compared with the previous
-600 Industry said. year, however, output in the June
A Dow Jones Newswires poll of quarter was down 3.7%, indicating
-700 June 2009: 10 analysts had tipped an average the economy remained weak.
US$1.086 trillion 14.1% economic expansion. It was “The economy is growing again,”
-800 deficit. the first quarter-on-quarter growth said David Cohen, an economist with
US$1.841 trillion in five quarters. research house Action Economics.
-900 Gross domestic product is now “Growth won’t be very strong
record deficit
expected to contract 4-6% for the but it should remain in an upward
-1,000 forecast by year, better than an earlier projection trajectory,” he said.
September of 6-9%, but the ministry warned that Yesterday’s data compare with a
any recovery would be weak due to 14.6% quarter on quarter contraction
the fragile global economy. in the three months to March.
1993-2001 2001-2009
Trade-driven Singapore last DBS Group called it a “stunning
Bill Clinton George W. Bush
sank into a recession in 2001 when turnaround” in line with its forecast.
the economy shrank 2.4%, its worst – AFP