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The assurance by Federal Reserve chairman Alan Greenspan that any increase in US interest rates would be 'measured' has calmed the nerves of investors but is not expected to lead to much buying conviction in the immediate term, say analysts.
THE proposed cross trading of Bursa Malaysia Bhd and Singapore Exchange Ltd securities, although positive for the country, could be detrimental to the local interbroke business, said Mayban Securities executive vice-president Wan Ahmad Satria Wan Hussein.
The property market, especially the residential sub-sector, has shown strong signs of recovery, spurred by a strong outlook on the economic front and return of positive buyers' sentiment. There has been a spate of new property launches in many parts of the country; and in the Klang Valley, the market is abuzz with property news on who is developing what. The positive outlook of the stock market and improved market sentiment are also set to spur greater activities on the property front. StarBiz assistant news editor ANGIE NG and reporter PANG HONG YEE take a look at the trends and prospects ahead for the residential property market.
THE local stock market headed lower in tandem with the regional downtrend yesterday in the absence of fresh leads to spur buying interest. The KL Composite Index (KLCI) fell nearly 11 points to a day's low of 841 before recovering some ground towards the end of the trading day to finish at 845, down 6.8 points or 0.8% from Tuesday's close.
There is a cautious mood among fund managers over how well the stock market would perform in the second half of the year. Fund managers contacted by I>StarBiz/Iwere generally of the view that the market outlook would largely depend on how external concerns - such as interest rate movements, terrorism threats and oil prices - would pan out.