theSun | TUESDAY JUNE 16 2009 17

business KLCI
STI
1,091.17
2,316.56
1.02
60.51
Nikkei
TSEC
10,039.67
6,225.56
96.15
222.67
Hang Seng 18,498.96 390.72 KOSPI 1,412.42 16.17 KLCI Points
SCI 2,789.55 45.79 S&P/ASX200 4,031.7 30.5

KL market summary
JUNE 15, 2009
INDICES
FBMEMAS 7,344.94
CHANGE
- 12.81
Share prices close mixed
COMPOSITE 1,091.17 + 1.02 SHARE prices on Bursa Malaysia closed 1,086.08, was mosty lower for the day, but
INDUSTRIAL 2,365.70 + 16.45 mixed yesterday as sentiment was weighed made a last minute slight recovery on the
CONSUMER PROD 322.65 + 0.88 down by the weaker regional bourses, deal- buying of key heavyweights.
INDUSTRIAL PROD 87.86 - 1.21 ers said. “I expect the market to stay down tomor-
CONSTRUCTION 213.00 - 1.68 The KLCI edged up 1.02 points to 1,091.17 row. This is only a short-term pull-back. Our
TRADING SERVICES 144.73 - 0.53
FINANCE 8,760.25 + 30.42
after opening 2.89 points higher at 1,093.04 long-term target is still the 1,160 level for the
PROPERTIES 778.73 - 21.75 in the morning. year,” he said.
PLANTATION 5,463.70 - 6.64 The dealers said the absence of fresh Phua said the CI is expected to move
MINING 303.97 - 8.10 leads both locally and globally, also kept the within a range of 1,084-1,094 today. EXCHANGE RATES June 15, 2009
FBMSHA 7,570.75 - 32.03 market down on profit taking. Leading the active counters were KNM
FBM2BRD 4,916.87 - 69.44 SJ Securities analyst Phua Kwee Hock said which fell 5.5 sen to 98.5 sen, Mulpha
TECHNOLOGY 15.01 - 0.74 Foreign currency Bank sell Bank buy Bank buy
the market’s upside was still very limited due dropped one sen to 62 sen, Compugates was
to heavy resistance. flat at 7.5 sen, Equine Capital slipped 1.5 sen TT/OD TT OD
TURNOVER VALUE
The market, which touched an intra-day to 65.5 sen and Tebrau Teguh was down six 1 US DOLLAR 3.5500 3.4850 3.4750
1.919bil RM1.879bil
high of 1,095.72 and an intra-day low of sen to 92 sen. — Bernama 1 AUSTRALIAN DOLLAR 2.9010 2.7740 2.7580
1 BRUNEI DOLLAR 2.4460 2.3860 2.3780
1 CANADIAN DOLLAR 3.1780 3.1000 3.0880
1 EURO 4.9730 4.8530 4.8330
Chinese
Bursa Malaysia offers
1 NEW ZEALAND DOLLAR 2.2960 2.1930 2.1770
1 PAPUA N GUINEA KINA 1.4330 1.2030 1.1870
PM says 1 SINGAPORE DOLLAR
1 STERLING POUND
2.4455
5.8410
2.3860
5.7000
2.3780
5.6800
recovery still 1 SWISS FRANC 3.2950 3.2140 3.1990

uncertain 100 ARAB EMIRATES DIRHAM 98.4000 93.1900 92.9900

SHANGHAI: Chinese Premier

Wen Jiabao said the Asian
giant’s economic recovery had
yet to find a solid footing and
the government would adjust its
stimulus package if necessary,
state media reported yesterday.
Unemployment, slumping
exports, excess capacity and
shrinking fiscal revenues mean
China’s recovery is fraught with
uncertainties, the People’s Daily
cited Wen as saying.
“As the outlook of the global
economy remains unclear and
external demand continues to
decline, our recovery is not
firmly rooted yet,” Wen was
quoted as saying during a visit
to central Hunan province.
“We must not underestimate
these difficulties,” he said.
Wen also said the govern-
ment would adjust its US$580
billion (RM2.03 trillion)
stimulus package announced
late last year to meet changing
economic conditions.
His comments came as data
released last week showed
China’s exports plummeted
for a seventh straight month in
May, down 26.4% year on year
as result of severe downturns
in the key North American and
European markets.
But China’s industrial out-
put and retail sales growth both
accelerated in May as stimulus
measures kicked in, fuelling
hopes that the country could
lead a global recovery. — AFP
multi-currency trading
KUALA LUMPUR: Bursa Ma-
laysia Securities Bhd’s multi-
currency securities framework
that will support listing, trading,
clearing and settlement of se-
curities in non-ringgit, is ready
for implementation on July 13,
2009.
In a statement here yester-
day, Bursa Malaysia said the
framework was designed to
support primary non-ringgit
listings or cross-listings from
other stock exchanges.
Its chief executive officer
Datuk Yusli Mohamed Yusoff
said the platform was yet anoth-
er of the exchange’s initiatives
to expand its accessibility to at-
tract more issuers and investors
to the local capital market.
“The new platform which
can offer investors a range of
non-ringgit listing and product
options, effective in diversify-
ing their investment portfolio
especially those who are look-
ing into foreign-denominated
assets,” he said.
Yusli said the implementa-
tion of the new framework
would also be able to support
the growing interest among
domestic and foreign issuers to
list Asian regional exchange-
traded funds (ETFs) in a com-
mon global currency such as
US dollar or euro.
“Through the multi-currency
platform, we are pleased to be
able to support the offering of
non-ringgit ETFs on Bursa Ma-
laysia such as that considered
by BNP Paribas Investment
Partners,” he said.
Meanwhile, BNP Paribas’
head of structure, indexed and
asset allocation in Asia, Bruno
Lebeda, said the company
would use the multi-currency
platform to offer its first US dol-
lar ETF which was expected to
be launched in the third quarter
of this year.
Bursa Malaysia said the
availability of the multi-cur-
rency platform would also be
able to promote the potential
for regional linkages which
involved settlement in common
currencies.
“Apart from foreign-denomi-
nated ETFs, the platform can
also support the listing of any
type of securities in non-ringgit.
Investment in multi-currency
securities allows for better
diversification and hedging,” it
said.
It said the exporters could
leverage on this by equitising
their foreign currency holdings
into non-ringgit securities.
Bursa Malaysia, however,
100 BANGLADESH TAKA
100 CHINESE RENMINBI
100 DANISH KRONE
100 HONGKONG DOLLAR
100 INDIAN RUPEE
100 INDONESIAN RUPIAH
5.5200
N/A
68.7700
46.6200
7.7700
0.0367
5.2000
N/A
63.2000
44.1500
7.1400
0.0320
5.0000
N/A
63.0000
43.9500
6.9400
0.0270
said that although trading in
multi-currency securities was 100 JAPANESE YEN 3.6280 3.5410 3.5310
opened to all investors, they 100 NEW TAIWAN DOLLAR N/A N/A N/A
were required to comply with 100 NORWEGIAN KRONE 57.7000 52.8000 52.6000
Bank Negara Malaysia’s (BNM) 100 PAKISTAN RUPEE 4.4800 4.2000 4.0000
Foreign Exchange Administra- 100 PHILIPPINE PESO 7.6300 7.1700 6.9700
tion policy as multi-currency 100 QATAR RIYAL 99.0600 94.2300 94.0300
securities were deemed as
foreign currency assets. 100 SAUDI RIYAL 96.1400 91.4500 91.2500
“Similarly, issuers seeking 100 SOUTH AFRICAN RAND 45.7400 42.0800 41.8800
to offer non-ringgit securities 100 SRI LANKA RUPEE 3.1900 2.9300 2.7300
on Bursa Malaysia need prior 100 SWEDISH KRONA 47.7800 43.3600 43.1600
approval from BNM,” it said. 100 THAI BAHT 11.1500 9.4500 9.0500
— Bernama
Source: Malayan Banking Berhad/Bernama
EU commissioner wants
thorough review of Opel plan
BERLIN: EU Industry Com- He said the plan must tors, Opel’s parent company
missioner Guenter Verheu- “truly offer assurances that which has been bailed out
gen wants a thorough ex- the business will survive by the US government, have
amination of plans to rescue and will be competitive for a haggled over finalising their
troubled German automaker length of time.” preliminary agreement.
Opel, which he believes Opel was bailed out late Under the proposed deal,
would ultimately benefit Rus- last month by a €1.5billion GM would keep 35% of the
sia, a German daily reported. (RM7.3 billion) loan from company and Opel’s work-
“The European Commis- Berlin as well as a promised ers would retain 10%. Magna
sion cannot allow such a initial investment of €700 would hold 20%, and Russia’s
plan to pass automatically, million from Canadian auto state bank Sberbank, which
it must examine it from top parts maker Magna, which has joined forces in the deal
to bottom,” said the German won the bidding war to take with troubled Russian car
commissioner in an article in over the struggling firm. maker GAZ, would have 35%.
Die Welt. Magna and General Mo- — AFP