0415 GMT [Dow Jones] Sime Darby (4197.KU) down 0.2% at MYR8.51 vs intraday high of MYR8.54, after proposing to raise up to MYR4.5 billion from Islamic bonds for working capital, future investments. "The stock opened higher and is probably down because of prevailing weak market sentiment," says dealer with local brokerage; KLCI last down 0.3%. Thinks announcement should have positive impact in medium term as funds will likely be used for investments, which are likely earnings and value accretive. Tips immediate support at psychological MYR8.50 with resistance at today's high of MYR8.54.
Dow Jones Newswires
September 30, 2009 00:15 ET (04:15 GMT)
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