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Malaysia Market Watch 3rd July 2012

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Reuters (Yahoo Finance) WHAT IS HAPPENING IN MALAYSIA, TIMES LOCAL FOLLOWED BY GMT:

  1. The Malaysian Insurance Institute organises the General Insurance Agents Convention 2012 at Istana Hotel, Kuala Lumpur at 0900am (0100).
  2. Pfizer media briefing at Hilton Hotel, Kuala Lumpur at 1000am (0200).
  3. The IPO of IHH Healthcare Bhd prospectus launch ceremony at Meridien Hotel, Jalan Sentral, Kuala Lumpur at 1100am (0300).
  4. Signing of memorandum of understanding (MoU) for Allianz Penang Bridge International Marathon 2012 at Eastin Hotel, Petaling Jaya at 1445pm (0645).

MARKET SNAPSHOT:

  1. The Malaysian benchmark stock index rose 0.11 percent on Monday, led by gains in banking stock Hong Leong Bank Berhad which rose 1.77 percent and auto stock UMW Holdings Berhad which rose 1.42 percent.
  2. U.S. stocks edged higher on Monday, shaking off a surprise contraction in U.S. manufacturing, which some investors took as a signal the Federal Reserve will take more forceful actions to boost the economy.
  3. Stocks finished higher on Monday as weak U.S. manufacturing data raised speculation the Federal Reserve will again step in to boost the economy, though worries the global economy is deteriorating took the euro and oil lower.
  4. Malaysian crude palm oil futures rose to a one-month high on Monday, driven by a stronger demand outlook for palm oil as a worsening U.S. drought could further tighten global oilseed supplies.

To see Malaysian central bank regular money market tenders issued at around 0930 local please click on the following link here

IN THE NEWS REUTERS MALAYSIA (Click on )

  1. Moody’s PETRONAS acquisition of Progress Energy will extend reserve life
  2. Philippines may ask for US spy planes over S. China Sea
  3. Petronas chafes at its role as Malaysia’s piggy bank
  4. Malaysia to grab Asia IPO top spot with $2 bln IHH listing
  5. Australia’s Echo says Perpetual able to buy 15 pct stake
  6. India’s PEC buys 9,000 T RBD palmolein at $1,039/T-sources

———————-MARKET SNAPSHOT @ 0019 GMT ————
INSTRUMENT LAST PCT CHG NET CHG

  1. S&P 500 1365.51 0.25% 3.350
  2. USD/JPY 79.44 -0.05% -0.040
  3. 10-YR US TSY YLD 1.5902 — 0.003
  4. SPOT GOLD 1595.39 -0.08% -1.290
  5. US CRUDE 83.43 -0.38% -0.320
  6. DOW JONES 12871.39 -0.07% -8.70
  7. ASIA ADRS 119.27 0.26% 0.31

————————————————————-

* Most emerging Asian currencies rose on Monday but pared initial gains, with the South Korean won and the Indian rupee turning lower, on scepticism over the latest European agreement aimed at easing the region’s debt crisis.
* Southeast Asian stock markets were mostly higher on Monday, with Philippine and Singapore stocks hovering around their highest in almost two months, as investors cheered moves by European leaders to shore up the region’s troubled banks.

Reuters News welcomes your feedback and for any queries, please contact the Kuala Lumpur newsroom at +603 2333 8046 or via email at areuters@gmail.com