MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Fall for Week as Dow Erases 2012 Gain on Jobs: U.S. stocks tumbled, falling for the fourth time in five weeks and erasing the Dow Jones Industrial Average's 2012 gain, amid concern the global economy is slowing and Europe's debt crisis is worsening. The Standard & Poor's 500 Index slumped 2.5 percent yesterday, the most since November, after American employers added the fewest workers in a year during May. The S&P 500 lost 3 percent to 1,278.04 for the week, trimming its gain for the year to 1.6 percent. The Dow dropped 336.26 points, or 2.7 percent, to 12,118.57, putting it below 2011's closing level and erasing a year-to-date rally that had been 7.1 percent as of May 1.

European Stocks Post Weekly Retreat on Economic Concern: declined for the fourth week in five as weaker-thanestimated manufacturing output in the U.S. and China plus record unemployment in the euro area signaled that the global economy is slowing. A gauge of construction and materials stocks tumbled after China's official Xinhua news agency said the country has no plan to begin large-scale stimulus of the economy. The U.K.'s FTSE 100 Index slid 1.7 percent, France's CAC 40 slipped 3.2 percent and Germany's DAX Index slumped 4.6 percent

Oil Drops a Fifth Day on Concern U.S., China Demand Will Falte: trading at the lowest in almost eight months, as signs of economic slowdown in the U.S. and China stoked speculation that crude demand will falter. The New York Mercantile Exchange, crude for July delivery settled at $83.23 a barrel, skidding $3.30, or 3.81 percent. It was the lowest settlement since Oct. 7 when prices ended at $82.98.

CORPORATE NEWS
Setia Haruman allocates RM2.5b to further develop Cyberjaya: the master developer of Cyberjaya, will invest RM2.5 billion over the next five years in a "new wave" of developments planned for the intelligent city from now until 2016, said its chairman Tan Sri Mustapha Kamal Abu Bakar. He said RM2.1 billion will be used for the development of four projects comprising two commercial projects called CBD Perdana 3 and 5, an APEX Residence featuring condominium and bungalow units, and a yet-to-be-named mixed-use residential project.

-SunBiz

Malaysia's exports expected to have rebounded 1.6% in April after falling 0.1% in March: According to a poll of nine economists by Bloomberg, exports for April should grow 1.6% year-on-year (y-o-y), after falling 0.1% y-o-y in March, due to the weak global economic environment. The Department of Statistics is expected to release Malaysia's April trade figures on Wednesday.

Mixed review on Yeo Hiap Seng offer price: YHS (Singapore) Pte Ltd (YHSPL) proposed in an announcement to the stock exchange last Wednesday to take the company's 61.15%-owned subsidiary YHSM private for RM3.60 per share via a selective capital reduction and repayment exercise.

-StarBiz

Mycron steels itself amid weak markets: MYCRON Steel Bhd's strategy for now would be to try and stay in the black, or minimise losses, in view of the prevailing soft market conditions, said its independent non-executive director, Paul Chan Wan Siew.

-Btimes

Source:Jupiter Securities Research 04 June 2012