theSun | TUESDAY OCTOBER 13 2009 17

business KLCI
STI
1,233.33
2,680.47
0.49
27.96
Nikkei
TSEC 7,599.88
closed
27.92
Hang Seng 21,299.35 200.09 KOSPI 1,639.81 6.98
SCI 2,894.48 17.23 S&P/ASX200 4,739.80 13.10

KL market summary
OCTOBER 12, 2009
INDICES
FBMEMAS
CHANGE
8,282.25 +2.82
Share prices close mixed
FBM-KLCI 1,233.33 - 0.49 SHARE prices on Bursa Malaysia closed dealers, the market sentiment was boosted
INDUSTRIAL 2,662.53 + 7.70 mixed yesterday as investors took profit after after upbeat economic and corporate news
CONSUMER PRODUCT 366.39 + 0.21 earlier gains, dealers said. from the United States lifted the prospects of
INDUSTRIAL PRODUCT 92.26 +0.42 The market had opened higher yesterday, a sustainable economic recovery.
CONSTRUCTION 234.97 +0.61 underpinned by the continued buying of se- “Positive external factors had encouraged
TRADING SERVICES 159.58 +0.15
FINANCE 10,345.60 +13.40
lective blue chips, as investors took cue from buying interest in the local market,” a dealer
PROPERTIES 798.85 +5.66 the positive sentiment on global markets. said. The FBM Emas Index rose 2.82 points
PLANTATIONS 5,967.22 -3.97 At 5pm yesterday, the FBM KLCI ended to 8,282.25, the FBM Top 100 inched up 0.80
MINING 308.02 +12.16 0.49 of a point lower at 1,233.33, off its of a point to 8,071.50, the FBM 70 gained
FBMSHA 8,380.49 +4.08 highest closing level of 1,233.82 recorded 16.76 points to 8,112.69 and the FBM ACE EXCHANGE RATES October 12, 2009
FBMACE 4,146.91 +21.72 on Friday. Index advanced 21.72 points to 4,146.91.
TECHNOLOGY 16.79 +0.02
The index, which had opened 1.78 points The Finance Index increased 13.41 points to Foreign currency Bank sell Bank buy Bank buy
TURNOVER VALUE higher at 1,235.60 yesterday, touched its 10,345.60, the Industrial Index added 7.70 TT/OD TT OD
631.085mil RM825.858mil
highest level to date this year at 1,238.30, points to 2,662.53 while the Plantation Index 1 US DOLLAR 3.4410 3.3760 3.3660
after 25 minutes of trading. According to the declined 3.97 points to 5,967.22. – Bernama
1 AUSTRALIAN DOLLAR 3.1280 3.0340 3.0180
1 BRUNEI DOLLAR 2.4680 2.4070 2.3990
1 CANADIAN DOLLAR 3.3070 3.2260 3.2140

Singapore Q3 growth boosts

1 EURO 5.0630 4.9600 4.9400
1 NEW ZEALAND DOLLAR 2.5560 2.4440 2.4280
1 PAPUA N GUINEA KINA 1.4380 1.1730 1.1570
1 SINGAPORE DOLLAR 2.4675 2.4070 2.3990
1 STERLING POUND 5.4490 5.3370 5.3170
1 SWISS FRANC 3.3390 3.2550 3.2400

Asian recovery hopes

SINGAPORE: Singapore’s
economy grew 0.8% in the
three months to September
from a year ago, official es-
timates showed yesterday,
boosting recovery hopes in
other Asian economies hit
by the global slowdown.
It was the trade-depend-
ent economy’s first year-
on-year expansion in five
quarters and was based on
July and August numbers.
The estimate is expected
to be revised when the full
September numbers are
available next month.
“It’s a good sign for the
rest of Asia,” said Dariusz
Kowalczyk, chief investment
strategist with financial
services firm SJS Markets
Hongkong. “The recovery
in the global economy has
had a meaningful impact on
regional growth.”
Singapore was the first
China extend Rio Tinto
Asian economy to go into
recession as a result of the
financial crisis that began
in the US housing sector
– but also among the earliest
beneficiaries of improved
demand in industrial coun-
tries this year.
“A clear but modest
recovery is under way
globally, at least for the next
three or four quarters,” the
ministry of trade and indus-
try said.
While gross domestic
product (GDP) will fall
in 2009, the government
amended its full-year fore-
cast to a contraction of 2.0 to
2.5%, well below the previ-
ous estimate of negative 4 to
6% growth.
“One-off factors such as
restocking activities and fis-
cal stimulus measures will
continue to support growth
in the near term,” the
100 ARAB EMIRATES DIRHAM 95.3300 90.2800 90.0800
100 BANGLADESH TAKA 5.2000 4.7280 4.5280
100 CHINESE RENMINBI N/A N/A N/A
Madonna’s 100 DANISH KRONE 70.1800 64.4900 64.2900
big 100 HONGKONG DOLLAR 45.1800 42.7800 42.5800
party 100 INDIAN RUPEE 7.6700 7.0400 6.8400
ministry said. On a season- driven by the continued ex- pg 19 100 INDONESIAN RUPIAH 0.0379 0.0330 0.0280
ally adjusted quarterly basis, pansion of biomedical and 100 JAPANESE YEN 3.8350 3.7420 3.7320
GDP surged 14.9% follow- electronics manufacturing 100 NEW TAIWAN DOLLAR N/A N/A N/A
ing a 22% expansion in the output, and improvements
100 NORWEGIAN KRONE 62.9100 57.8000 57.6000
second quarter to June, the in the trade-related and tour-
ministry said. ism sectors of the economy 100 PAKISTAN RUPEE 4.2300 3.9600 3.7600
It was the second suc- on the back of a gradual sta- 100 PHILIPPINE PESO 7.5500 7.1000 6.9000
cessive quarter-on-quarter bilisation in global economic 100 QATAR RIYAL 95.9800 91.3000 91.1000
growth period. conditions,” it said. 100 SAUDI RIYAL 93.1600 88.6200 88.4200
Growth in the third quar- The Monetary Author- 100 SOUTH AFRICAN RAND 48.0500 44.1900 43.9900
ter was driven by expan- ity of Singapore (MAS), the
100 SRI LANKA RUPEE 3.0900 2.8400 2.6400
sion in the biomedical and country’s central bank, said
electronics manufacturing in a separate statement yes- 100 SWEDISH KRONA 50.8600 46.2400 46.0400
industries, which are the terday it was maintaining 100 THAI BAHT 11.0700 9.3800 8.9800
Source: Malayan Banking Bhd/Bernama
key pillars of Singapore’s the policy of “zero percent
industrial sector. appreciation” for the Sin-
Manufacturing, which gapore dollar in light of the
accounts for almost a quar-
ter of Singapore’s GDP, grew
modest recovery.
The MAS carries out its
Britain to sell off state assets
8.3% in third quarter from monetary policy through the LONDON: The British government will sell off a raft of state assets to help
a year ago and expanded Singapore dollar, which is reduce its debt, Prime Minister Gordon Brown was to announce yesterday.
34.9% on a quarterly basis. weighted against a basket of The government is to sell off £16 billion (RM87 billion) of assets, Brown
The services industry currencies of major trading was to say, according to extracts from a keynote speech he was to give
shrank 2.4% on the year but partners within an undis- in London.
expanded 9.5% on a quar- closed trading band known Brown was to outline details of initial sales that could raise £3 billion
terly basis. The construction as the nominal effective (RM16 billion), including the Channel Tunnel linking Britain to France; the
sector surged 12.4% exchange rate (NEER). 33% stake in European uranium consortium URENCO; the Tote bookmakers;
year-on-year but fell “MAS will therefore the River Thames crossings at Dartford, east of London; and the Student
0.6% from the previ- maintain the current policy Loans Company. Brown is aiming to halve Britain’s deficit over the next
ous three months, stance of a 0% appreciation four years.
the ministry said. of the NEER policy path,” it The funds raised will help pay off Britain’s debts, he was to say. – AFP
“Growth was said. – AFP

probe by a month
SHANGHAI: China has extended by a month a probe into sus-
IPI for August down 5.7%
pected corporate espionage by employees of Rio Tinto, a defence KUALA LUMPUR: The Industrial said. It said output for July 2009
lawyer said, a case which strained ties between Australia and its Production Index (IPI) fell by 5.7% went down by 11.3% (revised) as
second-largest trade partner. in August 2009 compared with the compared with the same month
The four employees, including Australian citizen Stern Hu, same month of last year, follow- of last year.
were detained on suspicion of stealing state secrets shortly ing a 8.1% (revised) year-on-year The Statistics Department said
before a deadline for concluding annual iron ore negotiations decline in July 2009. growth for the first eight months of
between Chinese steel mills and the world’s three top miners, In a statement, the Statistics 2009 dropped by 14.8% compared
Rio, BHP Billiton and Vale. Their formal arrest in August included Department said the drop was due with the same period of 2008.
the charge of stealing commercial secrets, but not the more to the decline in manufacturing Of the mining sector, it said,
serious state secrets charge. and mining indices which fell by output fell 5.4% in August 2009 as
The extension of the investigation came on the request of the 6.6% and 5.5% respectively. compared with the same month
public security bureau, said Zhang Peihong, a lawyer for Wang It said the electricity index, last year due to the decline in
Yong, a member of Rio’s Shanghai-based iron ore team. however, rose by 3.9%. the index of crude oil (6.6%) and
A senior Chinese official at Shougang Steel in Beijing was also On a monthly basis, the IPI also natural gas (2.1%).
detained, and many other Chinese steel officials investigated in slipped by 1.1%, it said. Compared with the preceding
what many in the industry viewed as a bid by the China Iron and The department said for Janu- month, the mining output was
Steel Association to gain control over the fractious sector. ary-August 2009, the IPI declined lower by 5.8%, it said.
Lawyers for the other three defendants either could not be by 11.2% as against the same The department said during
immediately reached for trial, or did not comment. period in 2008. January-August 2009, the mining
The case stoked alarm in the foreign investment community According to the department, sector recorded a decline of 7.1%
and a debate in China about the state secrets law, which can the manufacturing output in Au- as compared with the same period
be broadly applied to cover a variety of information deemed gust 2009 fell by 6.6% compared a year ago.
sensitive. with the same month last year. It said electricity output rose by
Following this extension, authorities may grant two more “The contraction of the 3.9% in August 2009 as compared
extensions of two months each, Zhang said. manufacturing output was due with the same month a year ear-
Australia was one of the first countries to formally recognise to declines in the wood products, lier.
China in 1972. China is now Australia’s second-largest trading furniture, paper products and But compared with the preced-
partner, with two-way trade last year worth US$53 billion (RM186 printing (15.3%); electrical and ing month, the electricity output
billion). electronics products (15.1%), slipped by 0.8%, it said.
But relations have been tense after Chinese state-owned and food, beverages and tobacco The department said a de-
metals firm Chinalco failed in a US$19.5 billion (RM68 billion) bid (5.3%). crease of 2.8% was registered in
for a stake in Rio and a decision by Australia’s government in July “However, compared with the January-August 2009 period
to grant a visa for an exiled Uighur separatist. – Reuters the preceding month, the August as compared with the correspond-
2009 output increased by 1%,” it ing period last year. – Bernama