News Bits | 10 June 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Quick Bites: MAXIS

l  On Our Portfolio: Market Is Expected To Rise Higher Again

l  On Our Technical Watch: Weekly Technical

l  Economic Viewpoint: April ‘13 Trade

 

NEWS HIGHLIGHTS

l  Puncak Niaga ventures into oil and gas business

l  H&L diversifies into oil palm plantation

l  MMC expands in Asia-Pacific

l  KNM sees 20.0m shares traded in off market deal

l  Microlink shareholders urged to reject takeover offer

l  MBSB appoints Ravinder director

l  Luster sees entry of two substantial shareholders

FOREIGN NEWS HIGHLIGHTS

l  Bid consortium mulls options as Severn Trent rejects latest offer

l  Marchionne says Fiat may acquire chrysler stake just before IPO

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Japan PM Abe Unveils Plan For Tax Cuts To Boost Capex

l  Aso Says Japan Won’t Intervene In Market After Surge In Yen

l  China Export Growth Plummets Amid Fake-Shipment Crackdown

North America

l  US Economy Adds 175,000 Jobs In May

l  Consumer Credit In U.S. Climbed In April On Non-Revolving Loans

l  Canada Posts Biggest Job Gain In A Decade On Construction

Europe

l  Euro Crisis Is Over, Says France's Francois Hollande

l  Merkel Urges More EU Structural Reforms

l  German Bonds Fall For 3rd Week As Draghi Says Economy To Recover

Currencies

l  Battered Dollar Back On Its Feet After Payrolls

Commodities

l  Brent Above $103, Set For Biggest Weekly Gain Since Late April

l  Gold Falls 2 % As U.S. Data Dims Stimulus Hope

 

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

Regional News Update - (Please refer to the attached)

 

KENANGA INVESTMENT BANK BERHAD (15678-H)

Research Department

research@kenanga.com.my

Tel No: 603 - 2166 6822 / 2713 2292

Fax No: 603 - 2166 6823