MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Gain For Week, Erasing Loss On JPMorgan Rally: as a rally in JPMorgan Chase & Co. (JPM) and speculation China will boost stimulus measures tempered concern about earnings and the global economy. The S&P 500 gained 0.2 percent to 1,356.78 for the week. The index jumped 1.7 percent on July 13 after falling for six consecutive days. The Dow added 4.62 points, or less than 0.1 percent, to 12,777.09 during the week.

Concern about earnings and the global economy weighed on stocks during the first four days of the week as investors braced for what is projected to be the first decline in S&P 500 profits in almost three years. The Citigroup Economic Surprise Index for the U.S., which measures how much reports are missing or beating the median estimates in Bloomberg surveys, fell to minus 64.9 on July 10. That signals recent economic data trailed forecasts by the most since August.

European Stocks Rise For Sixth Straight Week; Aegis Jumps: amid speculation that central bank policy makers will add to stimulus measures to support the economy. Germany's DAX rallied 2.3 percent, France's CAC 40 advanced 0.4 percent and the U.K.'s FTSE 100 increased 0.1 percent.

Oil Trades Near One-Week High As U.S. Spending May Boost Demand: on speculation that fuel demand may increase amid an economic recovery in the U.S., the world's biggest consumer of crude. Oil for August delivery was at $87.30 a barrel, up 20 cents, in electronic trading on the New York Mercantile Exchange at 9:12 a.m. Sydney time. The contract gained $1.02, or 1.2 percent, to $87.10 on July 13, the highest close since July 5. Prices are 12 percent lower this year.


CORPORATE NEWS

Guan Chong's expansion drive: The Johor-based cocoa processor is looking to duplicate the success of its business model from its existing US JV in Delaware, where it had in 2006 acquired a 49% stake in Carlyle Cocoa Co LLC and now operates a cocoa cake grinding facility there. The setting up of the plants will allow Guan Chong to be closer to the marketplace, by exporting its semi-finished cocoa ingredients like cocoa cake to these countries to be further crushed into cocoa powder.

Maxis, REDtone ink infra-sharing agreement: to fast-track the
rollout of their 4G networks and allow their customers access to the highest download speeds of up to 150 megabit per second (Mbps), with the latest 4G long-term evolution (LTE) technology.They are looking to launch their 4G LTE services in selected areas of the Klang Valley early next year, with other regions to follow closely.

SunBiz


Hing Yiap's fashion statement: Garments manufacturer Hing Yiap has proposed to acquire six subsidiaries of Asia Brands Corp Bhd (ABCB) for RM245mil in cash and shares. The subsidiaries are involved in clothing for babies, children and
women. The subsidiaries to be acquired were Anakku Sdn Bhd, Audrey Sdn Bhd,Mickey Junior Sdn Bhd, Asia Brands Global Sdn Bhd, Asia Brands Assets Management Sdn Bhd and Asia Brands HR Services Sdn Bhd, it said in an exchange filing on Thursday.

Strabiz

Source:Jupiter Securities Research 16 July 2012