KUALA LUMPUR (Jan 26): Markets would be on the lookout for signals from the Federal Reserve about its monetary policy on Thursday morning while the eurozone is still mired in crisis.
Concern over how Greece's debt talks will develop trumped any appetite for riskier assets on Wednesday, despite good economic data from Germany and a widely held view that the Federal Reserve is set to signal an extended period of ultra-low rates.
Reuters reported Wednesday that the Fed looked set to keep monetary policy on hold, even as it releases forecasts expected to show interest rates will be near zero for at least two more years.
It said given recent improvement in the U.S. economy, the central bank will probably remain non-committal regarding the prospect for additional bond purchases, but will leave the door open to further action if Europe's banking problems spill over into the United States.
At Bursa Malaysia, the broader market closed higher in late trade, despite the decline in the FBM KLCI due to losses in banking stocks.
Stocks which could see trading interest following the latest corporate news are CAN-ONE BHD [], KIAN JOO CAN FACTORY BHD [] (KJCF), Hibiscus Petroleum Bhd and KNM GROUP BHD [].
Can-One said on Wednesday it had completed the acquisition of the 32.9% stake in KJCF for RM241.11 million cash consideration.
Analysts are expecting Can-One to make a general offer after securing the 32.9% block of KJCF.
Hibiscus Petroleum, which was queried by Bursa Malaysia Securities Bhd after its securities jumped in very active trade on Wednesday, replied it was unaware of the reasons for the unusual market activity.
The shares closed 32 sen higher at RM1.52 with 53.58 million shares done while the warrants climbed 14.5 sen to 85 sen with 176.11 million units done.
KNM has proposed to acquire a company owning 55 acres of land at Storey's Bar Road, Peterborough, England for 25 million pound sterling or RM120 million.
It had signed an exclusivity agreement with Poplar Holdings Ltd for the grant of exclusivity to acquire the latter’s unit Poplar Investments Ltd which owns the 55 acres of vacant land.
KNM said the agreement was to secure exclusive rights to purchase the sale shares and indirectly own the land to build an 80 MW waste to energy plant.
Concern over how Greece's debt talks will develop trumped any appetite for riskier assets on Wednesday, despite good economic data from Germany and a widely held view that the Federal Reserve is set to signal an extended period of ultra-low rates.
Reuters reported Wednesday that the Fed looked set to keep monetary policy on hold, even as it releases forecasts expected to show interest rates will be near zero for at least two more years.
It said given recent improvement in the U.S. economy, the central bank will probably remain non-committal regarding the prospect for additional bond purchases, but will leave the door open to further action if Europe's banking problems spill over into the United States.
At Bursa Malaysia, the broader market closed higher in late trade, despite the decline in the FBM KLCI due to losses in banking stocks.
Stocks which could see trading interest following the latest corporate news are CAN-ONE BHD [], KIAN JOO CAN FACTORY BHD [] (KJCF), Hibiscus Petroleum Bhd and KNM GROUP BHD [].
Can-One said on Wednesday it had completed the acquisition of the 32.9% stake in KJCF for RM241.11 million cash consideration.
Analysts are expecting Can-One to make a general offer after securing the 32.9% block of KJCF.
Hibiscus Petroleum, which was queried by Bursa Malaysia Securities Bhd after its securities jumped in very active trade on Wednesday, replied it was unaware of the reasons for the unusual market activity.
The shares closed 32 sen higher at RM1.52 with 53.58 million shares done while the warrants climbed 14.5 sen to 85 sen with 176.11 million units done.
KNM has proposed to acquire a company owning 55 acres of land at Storey's Bar Road, Peterborough, England for 25 million pound sterling or RM120 million.
It had signed an exclusivity agreement with Poplar Holdings Ltd for the grant of exclusivity to acquire the latter’s unit Poplar Investments Ltd which owns the 55 acres of vacant land.
KNM said the agreement was to secure exclusive rights to purchase the sale shares and indirectly own the land to build an 80 MW waste to energy plant.
