News Bits | 13 November 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Plantation

l  Results Note: HARTA, MAXIS

l  On Our Technical Watch: ALAM, YEELEE

 

NEWS HIGHLIGHTS

l  Another landbanking hiccup for Mah Sing

l  Petronas profit jumps 19.5% to RM17.2b

l  XiDeLang exercise offers steep discount

l  Shangri-La Hotels Q3 earnings up 4.7% to RM22.2m

l  MRCB keen to replicate project

FOREIGN NEWS HIGHLIGHTS           

l  Hotel chain Extended Stay America IPO priced at $20/share

l  Alibaba breaks sales record amid China singles-day rebate

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Emerging Economies, Including M'sia May Suffer More From US Taper

l  Bank Indonesia Surprises On Rates In Credibility Boost To Policy

l  China Vows Bigger Role For Markets As Party Closes Summit

North America

l  Canada Lowers Deficit Outlook Before Surplus In 2015-16

Europe

l  EU Negotiators Clinch Deal On 2014 Budget

l  UK Inflation Falls To 2.2% In October

l  Russian GDP Expands Less Than Forecast In Third Quarter

Currencies

l  Dollar Marches Higher On Rising Yields

Commodities

l  U.S. Oil Sheds $2 On Fears Of Fed Tapering; Supply

l  Gold Drops For Fourth Day On Fed Taper Uncertainty

 

Kenanga Coverage Rating Summary - (Please refer to the attached)