News Bits | 24 Dec 2012

Kenanga Today

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Result Note: HELP

l  Quick Bites: BENALEC, MAXIS

l  Technically Speaking: Weekly Technicals

l  Economic Viewpoint: Cliffocalypse now?

 

NEWS HIGHLIGHTS

l  Flonic Hi-Tech 3Q loss narrows, but 9MFY13 loss 9 times higher Y-o-Y

l  Maxis appoints Dennelind as CEO

l  TH Heavy, McDermott in collaboration to complement capabilities

l  Kenanga to buy ING Funds

l  CLIQ gets nod for Bursa listing

l  Three firms request for trading suspension

l  Hing Yiap plans name change

 

FOREIGN NEWS HIGHLIGHTS

l  Hyundai Heavy Ind. Group wins orders worth USD1.1b

l  Oaktree Said to Pay Some Bonuses Early as Tax Hike Looms

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  China Pledges Rural Reforms To Boost Incomes, Consumption

North America

l  Consumer Sentiment Slumps As 'Fiscal Cliff' Woes Weigh

l  Americans Look Past Fiscal Debate As Spending Rises

l  Treasuries Yields Rise As Lawmakers Wrangle In Budget Showdown

l  US Fiscal Cliff: Boehner Still Hopes For Deal

l  Canada Slow Inflation And Growth Signal Modest 4Q Rebound

Europe

l  IMF Urges France To Boost Competitiveness

l  UK Borrowing Higher Than Expected As GDP Revised Down

l  Italy Bonds Rise As Draghi Predicts Recovery; Bunds Fall

Currencies

l  Dollar Gains As Safe-Haven Bid On ‘Cliff’ Fears

Commodities

l  Oil Falls As US Fiscal Cliff Talks Dissolve

l  Gold Near 4-Month Low; Set For Worst Week Since June