The Star Online: Business
The Star Online: Business |
| Posted: 03 Aug 2011 06:52 PM PDT SHARES of Fajarbaru Builder Group finished flat at RM1.07 amid extended sideways correction yesterday. With the stochastic falling and the moving average convergence/divergence (MACD) in danger of going under the signal line, prices may continue to consolidate in the short term. Solid support and initial resistance are envisaged at RM1.02 and RM1.14 respectively. RENEWED buying pushed MNRB Holdings to a near 20-month high of RM3.17 during intra-day session yesterday. Apparently, indicators are positive, implying prices may extend gains in the near term. If they can overcome the RM3.40 barrier, the next target would be to fill the RM4.04-RM4.16 gap. Support is seen at the RM3 mark, followed by the RM2.78 level. PETRONAS Chemicals fell two sen to RM6.79 amid extended correction yesterday. Technically, the negative expansion of the MACD histogram against the trigger line suggests this stock may ease in the short term, with support anticipating at the RM6.60 floor. Strong resistance can be expected at the RM7.25-RM7.30 range. > The comments above do not represent a recommendation to buy or sell. Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| Posted: 03 Aug 2011 06:10 PM PDT BEIJING: China is considering a proposal to create a ministerial-level body to manage its state-owned banks and non-bank financial enterprises, two sources with knowledge of the plan said, a move that would strengthen Beijing's grip on its lenders. China's motivations for the move weren't clear but the step could help the government tighten its control over the financial sector at a time when worries about local debt obligations are intensifying. The new body would have a say in the management of China's biggest state-controlled financial institutions, including banks, brokerages, insurers, trust firms and funds, said the sources, one of whom has ties to China's top leaders and another who is a senior executive in China's financial industry. By creating an overseer for banks, Beijing could distribute the burden of managing its numerous and sometimes unruly state-owned businesses. The new financial supervisor would also outrank top bank executives in China's political hierarchy, said the sources, an important consideration in a country where top managers of state-controlled firms are usually high-ranking Communist Party members. The heads of China's financial regulators, including the China Banking Regulatory Commission and the central bank, often have the same or slightly lower Party rank as the heads of the top state-owned firms. The sources have requested anonymity because they were not authorised to speak to reporters. — Reuters Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| S&P: Malaysia rating cut due to methodology Posted: 03 Aug 2011 05:39 PM PDT SINGAPORE: Standard & Poor's decision to cut Malaysia's sovereign rating last week was prompted by a change in its ratings methodology and its view on the country's creditworthiness remains unchanged, a senior analyst told Reuters yesterday. The agency had lowered Malaysia's local currency rating to A from A+ on July 27. "We define the foreign currency rating first, and then how much more the credit can notch up to the local currency rating," S&P's director of Asian sovereign ratings Takahira Ogawa said in an interview. Following S&P's decision to reduce the maximum difference between a country's local and foreign currency ratings to two notches from three, the ratings agency decided to cut Malaysia's local rating to one notch above the A- foreign rating, he added. "If you look at Malaysia, already 30% of the government (debt) securities is owned by foreigners ... It is getting more and more difficult for us to have higher differentiation between the local and foreign currency rating," Ogawa said. Ogawa said yesterday that Asia's sovereign ratings remained on an uptrend although the pace would slow due to problems in the United States and Europe that could affect the region. - Reuters Full Feed Generated by Get Full RSS, sponsored by Used Car Search. |
| You are subscribed to email updates from The Star Online: Business To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 ulasan:
Catat Ulasan