Market News - 24 Apr 2009

U.S. and European Market Roundup 

• The DJIA up 70.49 points to 7,957.06 points.
• U.S stocks rose, recouping yesterday’s drop as better-than-expected results from several regional banks lifted financial shares, overshadowing disappointing economic data and anemic outlooks from economic bellwethers like United Parcel Service.
• Over in Europe, shares ended lower on Thursday in a choppy session as investors digested a raft of earnings news, banks retreated from earlier gains and U.S home sales data disappointed investors.

 Macro and Corporate News 

• The government’s move on Wednesday to remove the 30% bumiputra equity policy from 27 sub-sectors in the sprawling services sector with immediate effect may be the beginning of further liberalisation in other economic sectors.
• YTL e-Solutions (YTLE), a subsidiary of YTL Corp, plans to pump in almost RM3.0 bln to set up a wireless broadband network in Peninsular Malaysia over the next five years.