News Bits | 25 September 2013

IDEAS OF THE DAY (SEE SEPARATE REPORTS FOR DETAILS)

l  Visit Note: WINGTAI

l  Quick Bites: BENALEC

l  On Our Technical Watch: IGB, PWROOT

 

NEWS HIGHLIGHTS

l  Perwaja Steel gets extension

l  Poh Kong: Lower gold prices drive up sales, but eats into margin

l  Malaysia UMW oil & gas to start taking orders for USD737m IPO on Oct 3

l  TA Enterprise 2Q soars 382% yoy to RM32m

l  Three quit Maybank Investment Bank

FOREIGN NEWS HIGHLIGHTS           

l  New York Life purchases Dexia asset management arm

l  Apple updates IMac desktop computers with faster Intel chips

 

ECONOMIC NEWS HIGHLIGHTS (MACRO BITS)

Asia

l  Indonesia Seeks To Boost Bilateral Swaps As Rupiah Slumps

l  IMF: Manila Can Adjust To Fed Tapering

l  Beijing Pumps US$14b Into Marts

North America

l  Home Prices In U.S. Cities Increase By Most In Seven Years

l  Confidence Falls On Concern Over U.S. Job Outlook

l  Canada July Retail-Sales Rebound Boosts Recovery Argument

Europe

l  German Business Confidence Increases Less Than Forecast

l  Spain Exits Recession

Currencies

l   U.S. Dollar Edges Higher After Economic Data

Commodities

l   Brent Rises In Heavy Spread Trading, Eyes On Iran

l   Gold Rises On Bargain Hunting, Snaps 3-Day Drop