Local Market Leads:
♦ Bursa Malaysia resumed its recovery strength, as the merger & acquisition (M&A) news outweighed the sudden price hikes of key essential items by the Government and a sluggish regional markets’ performance.
♦ South Korea's Honam Petrochemical Corp agreed to buy 72.6% stake in Titan Chemicals for RM2.35/share, paying a hefty premium from the closing price at RM1.85. At the same time, French’s cement maker, Lafarge SA sold 11.2% stake in its unit, Lafarge Malayan Cement for RM595m.
Market Technical Reading - Knee-jerk Reaction Expected From The Sharp Drop In US Markets… - 19/7/2010
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