News Bits | 20 September 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Sector Update: Automotive

l  Results Update: HAIO

l  Quick Bites: BJTOTO

l  On Our Technical Watch: NAIM, THHEAVY

 

NEWS HIGHLIGHTS

l  RM45.0m job for Alam Maritim (Comment included in Kenanga Today)

l  Pestech wins RM92.0m Laos job

l  Westports to raise RM2.03bil from IPO, targets 75.0% dividend

l  FCW, IJM Land to develop land

l  AmBank Group to spend RM600.0m to reposition brand

l  Landmarks proposes rights issue to fund hotel projects

FOREIGN NEWS HIGHLIGHTS           

l  China Huishan Dairy to price USD1.3b Hong Kong IPO near top: IFR

l  JPMorgan pays USD920.0m to settle London Whale probes

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Malaysia

l  Capital Controls A Last Resort, Says PM

Asia

l  Trade Deficit Widens On Back Of Rising Imports

USA

l  Jobless Claims In U.S. Increase Less Than Forecast

l  Home Sales Climb As Americans Rush To Lock In Rates

l  Current-Account Deficit In U.S. Narrowed 5.7% In Second Quarter

Europe

l  UK Retail Sales In Surprise August Fall

l  Ireland Exits Recession As Economy Grows

l  Greek Finance Minister Sees Signs Of Economic Recovery

Currencies

l  Dollar Off Lows But Still ‘Reeling’ From Fed

Commodities

l  Oil Tumbles As Libya Output Rises, Iran Tensions Ease

l  Gold Rises On Technicals, Short-Covering After Fed Move