MARKET ROUNDUP (Source Bloomberg)

S&P 500 Trims Loss Amid Speculation Europe To Take Steps: as speculation European leaders will announce new steps to tame the debt crisis tempered concern the economic recovery is slowing. The S&P 500 lost 0.1 percent to 1,404.94 at
4 p.m. New York time, trimming a drop of as much as 0.7 percent. The Dow Jones Industrial Average retreated 54.90 points, or 0.4 percent, to 13,035.94. Volume for exchange-listed stocks in the U.S. was 5.6 billion shares, or 7.3 percent below the three-month average.

European Stocks Decline On U.S. Manufacturing Report: as a report showed that U.S. manufacturing unexpectedly contracted in August. The U.K.'s FTSE 100 Index fell 1.5 percent. France's CAC 40 retreated 1.6 percent and Germany's
DAX slid 1.2 percent.

Oil Advances From One-Week Low As Crude Stockpiles Seen Falling: Oil for October delivery increased as much as 32 cents to $95.62 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.55 at 9:24 a.m. Sydney
time. The contract decreased $1.17 yesterday to close at $95.30, the lowest level since Aug. 30. Front-month prices are down 3.3 percent this year.


CORPORATE NEWS

Property developers optimistic of improved second half: The survey shows that majority of the developers will price their properties between RM250,000 and RM500,000, comprising a mix of single- and double-storey terrace houses and service apartments.

Favelle Favco gets RM89.6m crane orders: received orders to supply offshore cranes to P.T. Pal Indonesia (Persero)-Offshore Oil Engineering Co Ltd and Favelle Favco Cranes Pty Ltd Technip France for RM89.6 million.

Btimes


Bank Negara unlikely to raise policy rate: Seventeen of the 18 economists polled by Reuters also said export growth was sluggish in July in line with the broader slowdown across Asia, but they all expected the central bank to hold the overnight policy rate (OPR) at 3.00%.

Singapore PMI contracts for 2nd month on lower orders: Employment also shrank for the 14th straight month in the citystate, the latest Purchasing Manager's Index (PMI) showed yesterday, underscoring the weakness in the manufacturing sector.

StarbIz


Source:Jupiter Securities Reasearch 05 September 2012