MARKET ROUNDUP (Source Bloomberg)

U.S. Stocks Erase Gains as Optimism Over Jobs Data Fades; as optimism about an unexpected drop in the American unemployment rate faded and Apple Inc. shares slumped. The Standard & Poor's 500 Index fell less than 0.1 percent to 1,460.93 at 4 p.m. in New York, after climbing as much as 0.7 percent. The index rose 1.4 percent this week. The Dow Jones Industrial Average added 34.79 points, or 0.3 percent, to 13,610.15, the highest level since December 2007. Volume for exchange-listed stocks in the U.S. was 5.7 billion shares, or 4.6 percent below the three-month average.

European Stocks Post Weekly Advance on U.S. Jobless Rate; as the U.S. unemployment rate dropped to the lowest level since January 2009 and stress tests bolstered confidence in the Spanish banking system. Germany's DAX index added 2.5 percent, the U.K.'s FTSE 100 gained 2.3 percent and France's CAC 40 increased 3.1 percent.

Oil Caps Third Weekly Drop on Supply; as signals that supply is exceeding demand outweighed an unexpected decline in the unemployment rate. Crude oil for November delivery fell $1.83, or 2 percent, to settle at $89.88 a barrel on the New York Mercantile Exchange. Prices declined 2.5 percent this week.


CORPORATE

Sarawak Hidro set to commission turbines; is expected to commission the remaining four of the eight turbines at Bakun hydroelectric dam in second half-2013 to ramp up full-power generation capacity. Sarawak Hidro, developer of the RM7.3bil Bakun dam, sells hydro power to SEB's wholly-owned Syarikat SESCO Sdn Bhd for 6.25sen per kilowatt hour (kWh) with an annual hike rate of 1.5% for 30 years from 2011.

WCT announces internal reorganisation proposals; The company had proposed the exchange of the securities of WCTB with securities in a new investment holding company, WCT Holdings Sdn Bhd, which would be converted into a public limited company and to be named as WCT Holdings Bhd (WCTH).This would involve the one-for-one exchange of the entire issued and paid-up ordinary shares of 50 sen each in WCTB for ordinary shares of 50 sen each (after the share split) in WCTH, it said in a statement to Bursa Malaysia.

StarbIz


AirAsia keeps option open on KLIA2 switch; remains coy about a move to KLIA2, the new LCC terminal due to be completed in seven months. AirAsia Malaysia chief executive officer Aireen Omar said the decision will be based on whether the new airport is safe and functional and can facilitate the carrier's low-cost operation.

Malaysia investing heavily in healthcare; In 2013 Budget, the government will allocate RM20 million to establish 70 new 1Malaysia clinics next year. KPJ is a leading healthcare service provider in Malaysia, operating the country's largest network of 22 private specialist hospitals. It also has a presence in Indonesia with two hospitals in Jakarta and a retirement and aged-care resort called Jeta Gardens in Brisbane, Australia.

Btimes

Source:Jupiter Securities Research, 09 October 2012