19-09-2006: Lower as retail stocks plunge

The KLCI was mostly flat throughout the morning session, but losses accelerated after the lunch break. The benchmark index ended the day down 2.7 points at 962.8, after trading within a 6.4-point range throughout the day. At the close, declining stocks outweighed advancing ones by a 2-to-1 margin on volume of 519 million shares.

LKT, Lion Forest, QSR, Tenaga and UMW were the day’s top gainers. Apart from the retail stocks previous mentioned, other major losers include Genting and BAT.

Budget 2007: Response from Malaysian Investment Banking Association chairman Tan Sri Azman Hashim

The association notes that the Budget is one that is multidimensional and balanced, placing the country on track to becoming a fully developed nation as envisaged under Vision 2020.

We are confident that all sectors of the economy will benefit from the expansionary budgetary policy outlined for 2007.

The higher Government expenditure of 31% amounting to RM465 billion will help spearhead activities in the construction and services sectors and consequently contribute to greater job opportunities and expansion in our GDP.