MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Reverse Gain in Final Hour on Greece Woes: as concern that Greece would exit the euro and a tumble in Facebook (FB) Inc. shares overshadowed economic optimism. The S&P 500 added 0.1 percent to 1,316.63, almost erasing a gain of 1 percent. The Dow Jones Industrial Average lost 1.67 points, or less than 0.1 percent, to 12,502.81.

European Stocks Rise the Most in a Month; amid speculation that China and the euro area will do more to stimulate global economic growth. The U.K.'s FTSE 100 and France's CAC 40 advanced 1.9 percent. Germany's DAX increased 1.7 percent.

Asia Stocks Rise as Germany, China Vow to Spur Growth: on speculation China and Europe will do more to bolster economic growth, boosting the outlook for the region's exporters. Japan's Nikkei 225 Stock Average rose 1.1 percent as the Bank of Japan started a two-day policy meeting today. South Korea's Kospi Index advanced 1.6 percent. Singapore's Straits Times Index rose 1.3 percent. Hong Kong's Hang Seng Index (HSI) rose 0.6 percent. The Shanghai Composite Index, which tracks the larger of China's stock exchanges, rose 1.1 percent.

Oil Drops on Iran's Agreement to Allow Nuclear Inspectors: easing concern that the conflict over the
country's atomic energy program would disrupt Mideast supplies. Oil for June delivery slid 91 cents to settle at $91.66 a barrel on the New York Mercantile Exchange.

CORPORATE NEWS


MAS unveils '3-pillar' capex funding plan: has come up with a fundraising exercise involving a RM2.5 billion sukuk programme and an aircraft leasing arrangement with the government.

Axiata Q1 net profit up 3% to RM566m: helped by higher revenue across all operating companies. The quarter saw the group's subsidiary Celcom Axiata Bhd retaining its leadership status in mobile broadband amid increasing competition.

TM's broadband users hit 2 million mark: under the brand name Streamyx, while its high speed broadband (HSBB) service, UniFi, has recorded more than 359,000 subscribers.

-SunBiz

Ekuinas expands further in education with Umtech buy: enlarging its footprint in the education sector by buying a 90% stake in its first full-fledged university for RM58.5mil. The acquisition in University of Management and Technology (Umtech).

QSR Q1 net profit lower on Cambodia loss: The lower profit was mainly attributed to the loss incurred by KFC Cambodia and lower earnings from KFC Holdings (M) Bhd (KFCH).

Multi-utility business growth boosts YTL Q3 net profit by 17%: increase in revenue and profit in all of its business segments except for the information technology and ecommerce- related business segment which had a decrease in revenue but an increase in pre-tax profits.

-StarBiz

Willowglen gets RM17.99m railway jobs: Willowglen (Malaysia) Sdn Bhd, has been awarded jobs valued at RM17.99 million for the design, manufacture, installation, testing & commissioning of SCADA and CCTV systems for a local railway project.

Malaysia's international reserves rise to US$136.1b: The reserves were enough to finance 9.3 months of retained imports and were 4.1 times the short-term external debt.

Khazanah safety net for MAS: MAS announced yesterday, it has almost secured about RM8.8 billion to
fund its capital expenditure (capex) and working capital requirements. The announcement, however, was fitted with a statement that Khazanah will take up any shortfall in funding via an equity capital injection.

-Btimes

Source:Jupiter Securities Research 23 May 2012