Highlights

PublicInvest Research

Author: PublicInvest   |   Latest post: Wed, 12 May 2021, 9:06 AM

 

PublicInvest Research Headlines - 18 Aug 2020

Author:   |    Publish date:


Economy

  • US: New York manufacturing index drops more than expected in Aug. Signaling a slower pace of growth, the New York Federal Reserve released a report on Monday showing a much bigger than expected decrease by its index of regional manufacturing activity in the month of August. The New York Fed said its general business conditions index tumbled to 3.7 in August from 17.2 in July, although a positive reading still indicates growth in regional manufacturing activity. (RTT)
  • US: Homebuilder confidence improves to record high in August. Homebuilder confidence matched a record high in the month of August, according to a report released by the National Association of Home Builders on Monday. The report said the NAHB/Wells Fargo Housing Market Index jumped to 78 in August after soaring to 72 in July. Economists had expected the index to inch up to 73. "The demand for new single-family homes continues to be strong, as low interest rates and a focus on the importance of housing has stoked buyer traffic to all-time highs as measured on the HMI," said NAHB Chairman Chuck Fowke. (RTT)
  • EU: Bundesbank sees German economy growing steeply in 3Q. Germany's economy is set to grow at a sharp rate in the 3Q, after a record fall in the 2Q due to the impact of the coronavirus containment measures, but activity levels are likely to remain well below the pre-crisis level for some time more, Bundesbank said on Monday. The economic recovery that began back in May after the first easing of containment measures is expected to continue in the summer months, the bank said citing its experts. (RTT)
  • UK: Tax break pushes housing sales to highest in a decade. The UK housing market saw a surge in activity last month after a government tax break pushed sales to the highest in more than a decade, according to Rightmove. The property website said the number of agreed sales jumped in July, with the value hitting GBP37bn (USD48bn). That’s the most since Rightmove began tracking the data over 10 years ago. Prices rose at their fastest annual rate since the aftermath of the 2016 Brexit referendum. (Bloomberg)
  • UK: Household finances take new turn for the worse – survey. The financial health of British households deteriorated in August at a faster pace than last month, in an unpromising sign for the economic recovery from the Covid-19 pandemic, a survey showed on Monday. The Household Finance Index from data company IHS Markit fell to 40.8 in August from 41.5 in July, an abrupt end to the improvement shown in previous months when parts of the economy reopened following lockdown. (Reuters)
  • Japan: Sees record economic slump with recovery hinging on virus. Japan posted a record economic contraction in the 2Q, with recovery prospects now hinging on how quickly an uptick in virus infections can be contained. The economy contracted an annualized 27.8% in the three months through June from the previous quarter as a state of emergency and lockdowns in the country’s major export markets hammered consumer spending, production and exports. (Bloomberg)
  • Japan: Industrial production rises less than estimated. Japan's industrial production rose less than estimated in June, final data from the Ministry of Economy, Trade and Industry said on Monday. Industrial production rose a seasonally adjusted 1.9% monthly in June. In the initial estimate, output rose 2.7%. Shipments rose 4.8% MoM in June versus a 5.2% increase in the initial estimate. Inventories fell 2.4% MoM in June, as initially estimated. (RTT)
  • Singapore: Boosts stimulus by SGD8bn amid recession. Singapore Deputy Prime Minister Heng Swee Keat announced additional support measures of SGD8bn (USD5.8bn) to cushion the blow from the coronavirus pandemic, extending wage subsidies and aiming to shore up the hard-hit aviation and hospitality sectors. The new set of measures, adds to Singapore’s total pledged pandemic aid of almost SGD100bn. (Bloomberg)

Markets

  • Inta Bina: Wins RM199m main contract for Tropicana’s apartment project. Inta Bina Group has been appointed as the main contractor for a multi-facility apartment project in Subang Jaya for RM199m. The project covers the development of a 39- floor apartment comprising 120 service apartment units, 536 service studio apartment units, and nine floors of podium development including parking lots, commercial units and associated facilities. (The Edge)
  • Nexgram: In RM118m partnership with Central Spine Road sub-contractor. Nexgram is partnering Faldze Holdings SB (FHSB) for a sub-contract under the Central Spine Road project. The project awarded to FHSB is Section D, Package 3 of the CSR project from Bulatan Gua Musang to Mentara, Kelantan worth RM145m. Nexgram’s portion is valued at RM118.41m. Under the partnership, Nexgram will provide funding and advise on project execution. It will also undertake the construction of the project. (The Edge)
  • MISC: Gets Petrobras FPSO job. MISC has accepted a letter of intent (LOI) from Petróleo Brasileiro SA (Petrobras), for the provision of a FPSO facility (Mero 3 FPSO) located offshore Rio de Janeiro in the Libra block, Santos Basin, Brazil; and the operation and maintenance services during the charter phase of Mero 3 FPSO. The term of the charter is 22.5 years from the date of final acceptance of the Mero 3 FPSO by Petrobras. The Mero 3 FPSO is expected to commence operation in 1H2024. (The Sun)
  • EcoWorld: Sells land to Baosteel for RM53m. Eco World Development (EcoWorld) has inked a deal for the sale of 16.32 acres of its industrial land in Puncak Alam to Baosteel Can Making (Malaysia) SB. Baosteel Can had bought the plot of industrial land at Eco Business Park V for RM53.3m, to Eco World president and CEO Datuk Chang Khim Wah said Baosteel's decision to establish its business here would contribute towards the group's efforts to make EBP V one of the best industrial parks in the country.be used as its new manufacturing facility in Malaysia. (NST)
  • Sasbadi: Sells factory building in Kota Damansara for RM7.15m. Sasbadi Holdings is disposing of a three-storey factory building in Kota Damansara for RM7.15m as part of its non-core asset disposal to reduce its finance costs. The property had an audited book value of RM7.85m as at end-August 2019. From the proceeds, Sasbadi will use RM5.1m to repay a term loan and RM1.9 million to repay an outstanding bank overdraft facility, with the balance for related expenses. (The Edge)
  • Innature: Posts lower 2Q profit but says e-commerce channels recorded exponential growth. Innature reported a net profit of RM3.13m, down 38.62% YoY, as its Malaysian retail business was hit by the Covid-19 lockdown. With 121 retail stores as at June 30, the group was inevitably affected by the impact of Covid-19, Innature said. “Fortunately, the decline was mitigated by the contribution from Vietnam’s new stores and the group’s new businesses in Cambodia and Malaysia, as well as the surge in revenue from e-commerce channels,” it added. (The Edge)

MARKET UPDATE

  • The FBM KLCI might open higher today after US stock benchmarks finished mostly higher Monday, with the S&P 500 index ending near record territory, despite a congressional stalemate over fresh stimulus to help Americans and businesses hurt by the coronavirus pandemic. The Dow Jones Industrial Average fell 86.11 points, or 0.3%, to end at 27,844.91, or 5.8% away from its all-time record close. The S&P 500 index rose 9.14 points, or 0.3%, closing at 3,381.99, only 0.1% away from its record closing peak at 3,386.15. The Nasdaq Composite Index added 110.42 points, or 1%, finishing at 11,129.73, while booking its 33rd record close of the year. In Europe, the Stoxx 600 Europe Index wrapped up the session 0.3% higher, while the UK’s FTSE 100 finished 0.6% higher.
  • Back home, the FBM KLCI closed down 3.85 points or 0.25% at 1,560.74 while trade volume across Bursa Malaysia dropped below 10bn securities as investors continued selling shares of rubber glove manufacturers. In the region, China’s CSI 300 index closed 2.4% higher, while Hong Kong’s Hang Seng Index advanced 0.7% and Japan’s Nikkei 225 declined 0.8%.

Source: PublicInvest Research - 18 Aug 2020

Share this

Related Stocks

Chart Stock Name Last Change Volume 
INTA 0.305 +0.005 (1.67%) 152,200 
NEXGRAM 0.04 0.00 (0.00%) 2,823,200 
MISC 6.73 -0.07 (1.03%) 2,731,300 
ECOWLD 0.64 +0.01 (1.59%) 1,901,700 
SASBADI 0.21 +0.015 (7.69%) 20,838,800 
INNATURE 0.63 -0.005 (0.79%) 141,500 

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View candlestick stock charts with Technical indicators
MQ Affiliate
Be rewarded by being an MQ Affiliate
 
 

605  230  568 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 FOCUS 0.06-0.005 
 GOCEAN 0.0450.00 
 MTOUCHE 0.285+0.005 
 TANCO-WB 0.07+0.02 
 PERMAJU 0.1450.00 
 TANCO 0.145+0.01 
 MINDA 0.145+0.02 
 UCREST 0.30+0.005 
 TAWIN-OR 0.065-0.005 
 CAREPLS 2.41+0.05 

FEATURED POSTS

1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!

TOP ARTICLES

1. HOW PUMP AND DUMP SYNDICATES OPERATE IN BURSA, Please Avoid At All Costs, Calvin Tan Research THE INVESTMENT APPROACH OF CALVIN TAN
2. ARB Berhad – Not As Good As It Seems. Be Cautious. The 1994 Investor
3. 木材价格暴涨,这家公司竟然没有人买?! Swim With Sharks
4. World’s most vaccinated nation is spooked by Covid spike (Chinese-made Sinopharm vaccine widely used in Seychelles) News1
5. Number of Covid 19 cases solely depends on Government's efficiency - Koon Yew Yin Koon Yew Yin's Blog
6. Are you an INTELLIGENT INVESTOR? You can beat Buffett with THIS STOCK with 100% return in 2 months! Ultimate Stock Tips
7. When will the pandemic end? Out of the box
8. U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years - Koon Yew Yin Koon Yew Yin's Blog
PARTNERS & BROKERS