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Malaysia Market Watch July 6 2012

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Following is a list of events in Malaysia as well as news stories and press reports which may influence financial markets.

WHAT IS HAPPENING IN MALAYSIA, TIMES LOCAL FOLLOWED BY GMT:

  1. Release of International Reserves as at 29 June 2012 at 1700pm (0900).
  2. President of Czech Republic Vaclav Klaus meets former prime minister Mahathir Mohamad at JW Marriot Hotel, Kuala Lumpur at 0900am (0100), and attends Malaysian-Czech Republic Trade and
  3. Investment Forum at Starhill, JW Marriot Hotel, Kuala Lumpur at 1000am (0200).
  4. Airod Sdn Bhd and AAR Airlife signing ceremony for the CT58-140 engine contract at Airod Business Centre, Subang at 1000am (0200).
  5. OSK Property Holdings Bhd signs agreement with Beijing Urban Construction Group for redevelopment of the Atria Damansara project at Plaza OSK, Jalan Ampang, Kuala Lumpur at 1000am (0200).
  6. Minister in the Prime Minister’s Department Nor Mohamed Yakcop announces new allocation threshold for the 2 billion ringgit Facilitation Fund under Unit Peneraju Agenda Bumiputera (TERAJU) at Surian Tower, Jalan PJU 7/3, Mutiara Damansara at 1000am (0200).

MARKET SNAPSHOT:

* The Malaysian benchmark stock index climbed 0.68 percent on Thursday, let by gains in lender RHB Capital which rose 2.97 percent and gaming group Genting Bhd which gained 2.55 percent.

* U.S. stocks edged down on Thursday as economic stimulus measures by major central banks failed to excite investors before a U.S. jobs report expected to show tepid growth.

* U.S. stocks and the euro slid on Thursday as new stimulus measures by major central banks failed to spur confidence, with investors keenly awaiting the monthly U.S. jobs report for signs of whether the European debt crisis is weighing on the U.S. recovery.

* Malaysian crude palm oil futures rose to the highest in more than five weeks on Thursday, as investors anticipated a dry-weather rally would continue after U.S. markets reopened from a holiday.

*To see Malaysian central bank regular money market tenders issued at around 0930 local please click on the following link https://fast.bnm.gov.my/fastweb/public/MainPage.do?mode=MAIN

IN THE NEWS REUTERS MALAYSIA

  1. > Asia’s tycoons team up for $1 bln Manila casino
  2. > British “absent” from Battersea sale
  3. > Malaysia’s IHH institutional offer oversubscribed-sources
  4. > Malaysia holds rates, says its economy shows resilience
  5. > INTERVIEW-Thai PTTGC plans $11 bln capex by 2020, plans new cracker
  6. > Battersea station owner targets $12.5 bln in 15 years
  7. > Qatar eyes Islamic bond sale; demand seen high

———————-MARKET SNAPSHOT @ 0009 GMT ————

INSTRUMENT LAST PCT CHG NET CHG

  1. S&P 500 1367.58 -0.47% -6.440
  2. USD/JPY 79.88 -0.04% -0.030
  3. 10-YR US TSY YLD 1.5986 — 0.000
  4. SPOT GOLD 1607.05 0.17% 2.720
  5. US CRUDE 87 -0.25% -0.220
  6. DOW JONES 12896.67 -0.36% -47.15
  7. ASIA ADRS 119.76 -1.10% -1.33
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