MARKET ROUNDUP (Source Bloomberg)

Most U.S. Stocks Fall as FedEx Slumps Amid Europe Concern; as FedEx Corp. (FDX) slumped and concern grew that European leaders will struggle to resolve the region's debt crisis. The S&P 500 slid 0.1 percent to 1,459.32 at 4 p.m. in New York. The Dow Jones Industrial Average rose 11.54 points, or 0.1 percent, to 13,564.64. About five stocks fell for every four advancing on U.S. exchanges today, as 6 billion shares traded hands, in line with the three-month average.

U.K. Stocks Fall Amid Euro-Crisis Concerns, Asia Tension; FTSE 100 Index continuing its retreat from a six-month high, amid renewed concern about Europe's debt crisis and as tensions between Japan and China escalated. The FTSE 100 (UKX) climbed to the highest level since March last week after the European Central Bank pledged an unlimited bond- buying program to help contain bond yields while and the Federal Reserve announced a third-round of quantitative easing to support economic growth. The FTSE 100 fell 25.36 points, or 0.4 percent, to 5,868.16 at the close in London.

Oil Trades Near Two-Week Low on U.S. Supply Gain, Saudi Action; after an industry report showed rising crude stockpiles in the U.S. and Saudi Arabia was said to be taking action to lower prices. Oil for October delivery was at $95.57 a barrel, up 28 cents, in electronic trading on the New York Mercantile Exchange at 9:23 a.m. Sydney time. The contract slid $1.33 yesterday to $95.29, the lowest close since Aug. 30. Crude dropped 3.8 percent from the settlement on Sept. 14, when prices broached the $100 level, to the end of trading yesterday. Front-month prices are 3.3 percent lower this year. The October contract expires tomorrow. The more-active November future was at $95.89 a barrel, up 27 cents.


CORPORATE NEWS

Bursa, SGX kick off Asean Trading Link; with Malaysia and Singapore becoming the first two connected markets in the 10-nation Asean. With the launch of Asean Trading Link, the crossborder trade between Malaysia and Singapore will be executed by only one broker instead of a broker in each country as in the previous cross-border trading.

Scientex net profit hits record RM83.9m: the performance was helped by several factors. These include increased demand for its products overseas and the benefits of economies of scale following capacity expansion initiatives at its facilities in Pulau Indah in Klang and Malacca. The company's profits in the fourth quarter could have been better if not for a one-off cost in relocating its woven production from Malaysia to Vietnam.

Btimes


CPO tumbles to lowest level since October last year: The
commodity reached a peak of RM3,612.34 in mid-April but crude palm oil (CPO) futures for third month delivery tumbled yesterday to its lowest since October last year.

Sarawak Energy set to start work: Sarawak Energy Bhd will start the construction of its 500-kilovolts backbone transmission system, with an investment of RM3bil soon.

StarbIz


Source:Jupiter Securities Research 19 September 2012