News Bits | 25 Jan 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Initiating Coverage: DRBHCOM

l  Sector Update: Automotive

l  Results Update: SREIT, TENAGA

l  Quick Bites: SIME

l  On Our Technical Watch: INCKEN, KOSSAN

l  Economic Viewpoint: Inflation Rate Dec ‘12

 

NEWS HIGHLIGHTS

l  Petronas signs with Evonik after BASF pullout (Comment included in Kenanga Today)

l  Tune Ins IPO on Feb 22

l  Zhulian profit jumps on higher sales

l  Hua Yang 3Q net profit rises 36.8%

l  Guocoland Q2 profit soars

l  Sunway buys land in Johor Bharu

l  Icon Offshore secures RM500m Petronas Carigali jobs

l  Tan sells 20.5m Dijaya shares

FOREIGN NEWS HIGHLIGHTS

l  Amazon buys speech-recognition company Ivona

l  Sternlicht’s Starwood Firms to buy LNR for USD1.05b

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Global

l  Global Growth Glimmers As Manufacturing Picks Up Speed

Malaysia

l  December CPI At 1.2%

l  New Auto Sales Hit Record Historic High

Asia Pacific

l  Japan Posts Record High Trade Deficit In 2012

l  South Korea's Growth Rate Hits Three-Year Low

l  Thai Exports Weaker Than Expected

l  India Seeks To Lift Inflows By Raising Debt Limit To $75 Billion

l  Australia Inflation Surprisingly Tame In Fourth Quarter

USA

l  House Vote Sidesteps An Ultimatum On Debt

l  Jobless Claims In U.S. Decrease, Prolonging Seasonal Swings

l  Consumer Comfort Falls Amid Mounting Concern Over U.S. Economy

l  Rise In Leading Index Signals U.S. Expansion Into 2013

Europe

l  Spain Unemployment Rate Hit A Record: Youth Rate At 55%

l  British Jobless Rate Dips To 7.7%

l  Russian Economy Up 3.5% In 2012

Currencies

l  Yen Blasted; Dollar Gains As Jobless Claims Fall

Commodities

l  Brent Crude Holds Above $112 On Upbeat China Data

l  Gold Drifts From 1-Mth High, Recovery Hopes Dull Appetite