News Bits | 13 September 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Result Note: BJTOTO

l  Company Update: CENSOF, KIMLUN

l  On Our Technical Watch: CENSOF, PHARMA

 

NEWS HIGHLIGHTS

l  Salcon selling off China water concessions for RM518m

l  Deal to create value for HLI, Narra

l  Petronas: no plans to discard Brent-based pricing method

l  Solid Auto rises 14% on maiden trading day

l  Major Team shareholders to privatise firm

FOREIGN NEWS HIGHLIGHTS           

l  Twitter takes first step to go public with IPO filing

l  Vodafone’s USD10.2b Kabel takeover wins shareholder support

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia Pacific

l  Japan Mulls US$50b Stimulus To Offset Tax Rise

l  Flat Machinery Order A Check On Japanese Optimism

l  Indonesia Raises Rate To Four-Year High As Rupiah Extends Slide

l  Philippines Holds Rates At Record Low To Support GDP Growth

l  India Factory Output Unexpectedly Grows As Rajan Fights Slowdown

l  Australia Jobless Rate At 4-Year High

Americas

l  U.S. Consumer Comfort Steadies After Four-Week Fall

l  U.S. Budget Gap Narrows As Stronger Growth Boosts Revenue

l  U.S. Initial Jobless Claims Slump As Two States Underreport

l  Brazil July Retail Sales Rise Ten Times Faster Than Forecast

Europe

l  Euro-Area Industrial Output Declines More Than Forecast

Currencies

l  Dollar Steady As Focus Shifts To Fed Meeting

 

Commodities

l   Oil Rises For Second Day As Investors Watch Syria

l   Gold Falls 3 Pct After Sudden Early Drop Saps Momentum

 

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