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KUUALA LUMPUR: SHARE prices on Bursa Malaysia are likely to stabilise and stage a rebound this week following strong global overnight rallies driven by the European Central Banks (ECB) endorsement of unlimited bond buying programme and strong US economic data, said Affin Investment Bank vice-president and head of retail research Dr Nazri Khan.
Cathay Pacific Airways said yesterday a rebound in traffic late last year pushed it back into the black, but the SARS crisis still slashed its annual profits by 67% to HK$1.3bil.
Shares in Esso Malaysia Bhd jumped 32 sen, or 10.3%, to close at the day's high of RM3.42 on a strong technical rebound.
With economists and analysts having predicted that oil price would probably rebound to around US$65 by year-end, it seems like the trend is defying expectations, at least for yesterday as the commodity fell to an intra-day low of US$57.78 per barrel.