On Wall Street, the Dow Jones industrial average was up 131.50 points, or 1.37 percent, at 9,731.25. The Standard & Poor's 500 Index was up 14.26 points, or 1.37 percent, at 1,054.72. The Nasdaq Composite Index was up 35.42 points, or 1.71 percent, at 2,103.57.
Investors' hopes were lifted, albeit momentarily, by signs the global economy was recovering and optimism that US corporate earnings reports will beat expectations.
At Bursa, glove makers could continue to attract attention after analysts issued upbeat reports on Top Glove Corporation Bhd ahead of the release of the company's fourth-quarter results scheduled for tomorrow, and on the outlook for the rubber glove sector.
Maybank Investment Bank Research said Top Glove, which is scheduled to release its fourth quarter results on Oct 8, could reach a net profit of RM55 million to RM56 million. This would bring its full year net profit to 50% higher at about RM166 million to RM167 million.
Global Carriers Bhd has proposed a five-into-one capital reduction involving the cancellation of 80 sen of the par value of its 418.62 million shares of RM1 each and the credit of RM334.9 million will be used to reduce its accumulated losses.
Transmile saw the resignation of its director Kuok Khoon Ho, who has represented the Kuok family on the board of the air transportation company. He has been with the board since April 2004.
Kuok, 59, is the chairman of Kuok Brothers Sdn. Bhd, which holds a 17.99% stake in Transmile or 48.6 million shares. Transmile has borrowings of up to RM575.29 million as of June 30, 2009. It posted net loss of RM449,000 on the back of RM38.53 million in revenue in the second quarter ended June 30.
Despite no change in the closing price of crude palm oil (CPO) prices for December delivery at RM2,062, interests in palm oil players remained high as lower production due to weather changes next year could push CPO prices up.
As for KL Kepong, the selling on the counter could have come off after the "erroneous" transactions on Monday. KLK gave up all the gains from Monday in yesterday's trade.
Kumpulan Wang Persaraan (KWAP) has emerged as substantial shareholder in WCT Bhd with 39.68 million shares or a 5.11% stake. KWAP had acquired the shares from the open market and as at Sept 30, it held a 5.11% stake.
ESPN Star Sports (ESS) is believed to have won the broadcasting rights for the 2010-2013 English Premier League (EPL) live package for Malaysia and several other markets in Asia.
A local news report states Astro won the bid for the rights to broadcast the Barclays Premier League for the next three seasons for about RM800 million.