Stock Market Books

Wednesday, March 5, 2008

Market still dropping

KLCI closed 33.79 points lower at 1280.23 on foreign selling, KLK(2445) dropped RM 1.60 to RM 16.60; IOICorp(1961) down 45 sen to RM 7.35; MISC(3816) down 55 sen to 8.15. There are 160 winners and 672 losers and 214 counters unchanged.

810 million shares traded today valuing at RM2.12 billion.

Government inclined stock like Equine(1147) is stilling sliding 6 sen to 1.37. GLC time(4456) down 0.015 to 0.415 and Timecom(5031) is 0.52(-0.02). Many stocks are at year low prices. The question is, can they go lower?

Btoto(1562) third quarters net profit RM 98.16 million vs RM 117.34 million a year ago, revenue RM 861.5 m vs RM 771m. Declared dividend 8 sen per share; exdate April 11.

Contract value for Zelan(2283) JV’s project in UAE to build Meena Plaza raised to RM 801 million(AED 925.3 m) from RM 782 million due to higher material costs.

PT Telekomunikasi Indonesia ups Scicom stake to 25.8 million shares or 9.73% after buying 4.49 million shares from Feb 26 to 29.

FMR ups Gamuda stake to 10.93 % or 218.89 million shares, after buying 2.38 million shares on Feb 26.

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