MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Rise for 2nd Straight Week on Stimulus Bets: amid speculation central banks will take steps to stimulate growth and contain a prolonged debt crisis in Europe. The S&P 500 rose 1.3 percent to 1,342.84 for the week, extending its 2012 advance to 6.8 percent. The Dow Jones Industrial Average climbed 212.97 points, or 1.7 percent, to 12,767.17, building on the previous week's 3.6 percent increase.

Equities rose as signs of a global economic slowdown spurred speculation about stimulus measures. Policy makers from the U.K. to Japan and Canada stepped up warnings about the threat to financial markets should Europe fail to contain its crisis. In the U.S., reports showing a decline in retail sales, industrial production and consumer confidence added to evidence of economic weakness before Federal Reserve policy makers meet June 19-20 to decide whether more stimulus is needed.

European Stocks Post Second Weekly Gain on Stimulus Hopes: after the Bank of England announced credit-easingmeasures, boosting optimism central banks will take steps to stimulate the global economy. The U.K.'s FTSE 100 gained 0.8 percent. France's CAC 40 rose 1.2 percent and Germany's DAX added 1.6 percent.

Oil Rises on Speculation Central Banks to Boost Stimulus: on speculation that central banks will take steps to bolster global economic growth as investors await Greek elections this weekend. Crude for July delivery rose 12 cents to $84.03 a barrel on the New York Mercantile Exchange. The contract climbed to $84.80 earlier. Prices dropped 7 cents this week. They have dropped 24 percent from the year's high of $110.55 a barrel on March 1.


CORPORATE NEWS

Astino to bank on its extensive network: In the north, Astino has three facilities producing roofing materials, steel coil products, and chicken enclosures for the poultry industry. In the Bukit Beruntung, Selangor, Malacca and Temerloh, the group also had similar facilities producing roofing products. The plant in Temerloh is a new investment of RM25mil which started operations two months ago.

SCB says it has capability to develop several small projects in the country: which will build its first mini hydro-power plant in North Sumatra, Indonesia, plans to develop several similar projects in Peninsular Malaysia. Group managing director and chief executive officer Toh Chee Chingsaid the company had secured financing of US$15mil (RM47.5mil) from a local bank to fund the mini hydro dam project in North Sumatra.'We can start the project anytime now. The proposed 10MW mini hydro power plant will take two years to complete,'

KUB streamlining fast food business: is streamlining its fastfood restaurant franchise businesses, A&W in Malaysia and Thailand, and concentrating on profitable outlets. KUB is the licensee of A&W in Thailand and Malaysia since 2002. Currently, it has 40 outlets in Malaysia and 40 in Thailand.

EPMB shares up after Maju Expressway deal hits snag: proposed purchase of the RM1.7bil Maju Expressway (MEX) has supposedly hit a snag went down well with the market with the stock advancing 5% to a one-month high of 82sen. Bright Focus Bhd and Ulimas Sdn Bhd, had mutually agreed to extend the period for the fulfilment of the conditions precedent to the acquisition agreement for a further 60 days to August 14 from June 15.

-StarBiz

Tan Chong gears for regional expansion: expects to achieve the targeted 15 per cent share of the regional car market in the next five years with new distribution rights in Indochina and the launch of a new model for the lucrative mid-sized family sedan market in Malaysia. The company has secured franchise distribution rights in Laos, Cambodia and Vietnam, while it will introduce Nissan Almera in the later part of this year.

Btimes


Source:Jupiter Securities Research 18 June 2012