Wall Street declined as investors continue to await for more cues from the EU summit. The
Dow -0.20%, S&P -0.21% and Nasdaq
-0.90%.
Despite an agreement to inject EUR120bn “growth pact” was announced,
sentiments remained underwater as Italy and Spain refused the proposal unless the EU agree to underwrite Italian and Spanish bonds.
Selling pressure in key
bluechip counters sent the KLCI breaking below its psychologically important 1,600 to 1,594.24. Risk
sentiments may be affected by negative
developments from the EU summit front, KLCI possibly range-trading
at current levels with downside
risks.
USD/MYR and SGD/MYR risks fresh charge to 3.2000 and 2.5000 levels
respectively, market eyeing BNM aid
Petronas agreed to buy Progress Energy Resources Corp. for approximately
USD 4.6billion in its biggest deal as
it moves to export Canadian gas to Asia
The US Supreme Court, in a 5-4 ruling, upholds the law, including its
much-disputed mandate that almost all the
people in US have health care or pay a fine.
Highlights from theEuropean Summit
European Union leaders struggle to meet demands by Spain and Italy for relief from rising borrowing costs,
threatening to derail a 120billion-euro pledge to boost economic growth
Germany has
opposed any effort to join forces on sovereign debt or expand the crisis-fighting role of the European
Central Bank French President Francois Hollande said Italy and Spain out to receive support from the euro area’s firewall funds anf that their yields are still too high after the efforts they have made to reform their economies
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