Wall Street put a stop to a terrifying decline and stormed higher Friday as President-elect Barack Obama appeared ready to tap the chief of the New York Federal Reserve as the next treasury secretary and hand him the herculean task of righting the US financial system.
The Dow Jones industrial average, which had broken even for the day until news of the nomination leaked about an hour before the close, raced upward and finished 494 points higher, a rally of more than 6 1/2 percent. The Dow finished at 8046.
21/11 KLCI closed 1.56 points up to 866.88. CPO falls RM 14 to RM 1,454. DiGi rose 30 c to RM 20.20, TMI increased 22 c to RM 4.20, PBBank jumped 20 c to RM 8.50, IJM shot up 15 c.
21/11 Bank Negara international reserves fell to RM 343.8 b (USD 99.7b) as at Nov 14 from RM 345.5b (USD 100.2b) on Oct 31.
21/11 Overnight Wall Street settled down 444.99 points, or 5.56 pct to 7552.29; Crude Oil is recorded at USD 49.62, losing USD 4 a barrel.
20/11 YTL Power first quarter net profit is recorded at RM 180.4m vs RM 235m a year ago due to one-off tax payment by power unit. Revenue is RM 1.05b, dividend declared is 4.5c.