News Bits | 22 July 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Results Note: CMMT, DIGI

l  On Our Portfolio: Bulls Still in Control

l  On Our Technical Watch: Weekly Technical

l  Economic Viewpoint: June Inflation rate, Japan Upper House elections

 

NEWS HIGHLIGHTS

l  Kinsteel directors not selling down company shares

l  Kuantan Port to double capacity

l  Scomi Energy unit wins RM22.0 job from Coastal

l  Meda expands projects in pipeline to RM900.0m

l  LBS Bina disposes Of China's assets Worth HKD1.7b

l  Media Prima to launch HD simulcast in 1H2014

l  Genting Malaysia to partner Twentieth Century Fox for theme park upgrade?

FOREIGN NEWS HIGHLIGHTS       

l  Dell postpones meeting on buyout as more votes needed

l  SoftBank’s bid for universal music said to be rejected

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  G-20 Puts Growth Before Austerity, Seeks To Calm Markets

l  G20 Backs Plan To Stop Global Tax Avoidance And Evasion

Asia

l  Abe Coalition Cements Hold On Japan’s Diet

l  China Frees Banks To Set Their Own Lending Rates

l  Indonesia Sees Strong FDI In Second Quarter

l  Bangkok Cuts Growth Forecast

USA

l  Detroit Becomes Largest US City To File For Bankruptcy

Europe

l  UK Government Borrowing Fell In 2012-13, Revised Figures Show

l  Cameron Says Improving Economy May Allow U.K. To Reduce Taxes

Currencies

l  Dollar Pulls Back Slightly Against Most Rivals

Commodities

l  US Crude Oil Trades Above Brent For First Time In 3 Years

l  Gold Heads For Second Week Of Gains On Fed Reassurance