The US market ended slightly higher overnight as major indexes pared gains after the 10-year Treasury yield surged to its highest in a month. Earlier, European stocks surged to rebound from Friday’s losses.
On the local market, the FBM KLCI plunged 12.07 points to 1537.83 points. Following the positive performance on Wall Street, the FBM KLCI could follow suit and stage a rebound from its support of 1530 points, says JF Apex.
Among stocks to watch are Fraser & Neave Holdings Bhd has proposed to privatise its 27.66%-owned associate Cocoaland Holdings Bhd at RM1.50 per share.
Top Glove Corp Bhd executive chairman Tan Sri Lim Wee Chai raised his direct stake in Top Glove to 27.461% after acquiring 1.5 million shares at RM1.24 each.
Serba Dinamik Holdings Bhd has listed two assets that it owns to be disposed as part of the scheme of arrangement for RM220.08 million.
Malaysia Smelting Corp Bhd has proposed to acquire a firm that has been granted a mining lease over a parcel of land located adjacent to its mining land in Perak.
mTouche Technology Bhd is buying two units of retail-cum-office premises within a high-rise mixed development known as TROIKA here for RM17.9 million cash.
AHB Holdings Bhd has entered into a conditional joint venture agreement (JVA) to undertake a residential development in Mukim Petaling here with an estimated gross development value (GDV) of RM29.86 million.
GIIB Holdings Bhd has filed a legal suit against seven defendants for amongst others, conspiracy to injure the company, breach of fiduciary duties and seek, inter alia, damages in the sum of RM103.58 million. @WorldFuture