MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Fall For 2nd Week As Economy Overshadows Fed: as evidence of a slowing global economic recovery overshadowed speculation that the Federal Reserve may introduce new stimulus measures. The benchmark gauge for American equities erased 0.3 percent to 1,406.58 after slipping 0.5 percent the previous week. The Dow Jones Industrial Average lost 67.13 points, or 0.5 percent, to 13,090.84 in the latest week. The S&P 500 in August climbed to its highest level
on an intraday basis in more than four years, then failed to close at that milestone. The index has fluctuated near the 1,400 level for three weeks.

U.K. Stocks Are Little Changed On Bernanke Speech:following a three-day slide for the benchmark FTSE 100 Index, as Federal Reserve Chairman Ben S. Bernanke said he does not rule out further bond buying by the central bank. The FTSE 100 Index declined 0.1 percent to 5,711.48 at the close in London, after earlier falling as much as 0.2 percent and rallying as much as 0.8 percent. The equity benchmark dropped 1.1 percent this week, paring its gain in August to 1.4 percent.

Oil Trades Near Two-Week High On Stimulus Outlook,OPEC Supplies; amid speculation the U.S. may implement stimulus measures and signs of reduced supplies from OPEC. Oil for October delivery was at $96.30 a barrel, down 17 cents, in electronic trading on the New York Mercantile Exchange at 9:44 a.m. Sydney time. The contract rose $1.85, or 2 percent, on Aug. 31 to $96.47, the highest level since Aug. 22. Prices climbed 9.6 percent in August for a second monthly gain and are down 2.6 percent this year.


CORPORATE NEWS

Gadang targets jobs worth RM2b: in 2010, Gadang won a RM291.2 million contract from Malaysia Airports Holdings Bhd (MAHB) to build a runway and taxiways for KLIA2 in Sepang, Selangor.

US airlines discuss potential merger: American Airlines and US Airways are one step closer to a potential merger. Such a merger would put the combined airline on par with the world's largest - United Continental Holdings Inc - and the slightly smaller Delta Air Lines.

Btimes

Budget draft to be tabled at Cabinet meeting: The draft of Budget 2013 will be tabled at the Cabinet meeting on Wednesday. Prime Minister will table Budget 2013 in Parliament on Sept 28.

CPO futures expected to be cautious this week: market direction this week would be very much influenced by Federal Reserve chairman Ben Bernanke's speech where he was expected to outline plans for more economic stimulus.

StarbIz

Source:Jupiter Securities Research 03 September 2012