MARKET ROUNDUP (Source Bloomberg)

Most U.S. Stocks Rise As Greece Tempers Spain Concern: as optimism about Greece's attempts to form a coalition government tempered concern about a surge in Spanish bond yields. The S&P 500 rose 0.1 percent to 1,344.78, after dropping
0.6 percent. The Dow Jones Industrial Averagelost 25.35 points, or 0.2 percent, to 12,741.82. The Nasdaq Composite Index added 0.8 percent to 2,895.33. Trading volume for exchangelisted stocks in the U.S. was about 5.8 billion shares, 13 percent below the three-month average.

Equities rebounded as Antonis Samaras, leader of Greece's New Democracy party, said he had a constructive discussion with Democratic Left leader Fotis Kouvelis. German Chancellor Angela Merkel's said Greece shouldn't be granted leeway on
terms for its bailout. Group of 20 chiefs began a two-day meeting as Spain's borrowing costs soared to a euro-era record. Policy makers are discussing ways to stimulate the economy if necessary, a Canadian official said.

European Stocks Little Changed On Spain's Borrowing Costs: as the yield on Spain's benchmark 10-year bond climbed above 7 percent, amid fading optimism that Greece's election will calm the euro area's sovereign-debt crisis. The U.K.'s FTSE 100 Index added 0.2 percent, while Germany's DAX increased 0.3 percent. France's CAC 40 slipped 0.7 percent.

Crude Falls For First Time In Three Days On European Debt: as the worsening European debt crisis threatened to slow global economic growth and reduce demand for crude. On the New York Mercantile Exchange, crude for July delivery, which expires on Wednesday, fell 76 cents, or 0.90 percent, to settle
at $83.27 a barrel.

CORPORATE NEWS

Mudajaya wants more recurring income: between 60% and 70% of its total revenue in five years, and is looking at expanding its business in India, Vietnam and the Middle East to achieve the target, particularly in the power, water and highway sectors.

Nadayu aims to double property sales to RM400m this year: from RM200 million in 2011, with plans to launch properties with an estimated gross development value (GDV) of RM527 million.

SunBiz

New Hoong Fatt overseas expansion: an automotive replacement parts manufacturer plans to capitalise on the growing automotive market, especially in the neighbouring region.

GHL set on becoming a regional leader: currently 20 per cent of GHL's revenue comes from its overseas operations namely Thailand and the Philippines.

Btimes


Source:Jupiter Securities Research 19 June 2012