Welcome to Bursa Malaysia/KLSE Research Summary

Welcome to Bursa Malaysia/KLSE Research Summary

Monday, November 24, 2014

Kenanga - 24 Nov 2014

IDEAS OF THE DAY
l  Results Note: COASTAL, GENM, GENTING, IOIPG, PHARMA
l  Company Update: STAR
l  On Our Portfolio: Higher Downside Risk 
l  Economic Viewpoint: Malaysia Consumer Price Index, Fuel Subsidy To be Removed
NEWS HIGHLIGHTS
l  End of RON95, diesel subsidies
l  Willowglen bags RM14.2m contract
l  Gunaria, KL Kepong unit in share deal
l  Bina Darulaman to acquire land worth RM202.0m
l  Protasco sues PT Goldchild
FOREIGN NEWS HIGHLIGHTS
l  Tesla says in talks with BMW over car batteries, parts
l  BHP targets further spending cuts as iron prices tumble
l  Visa sees Visa Europe option now costing more than USD10.0b
l  Australia's Medibank IPO prices at AUD2.15 a share, raising AUD5.7b
 
ECONOMIC NEWS HIGHLIGHTS (MACRO BITS) 
Malaysia
l  Malaysia Scraps Fuel Subsidies As Najib Ends Decades-Old Policy
l  Inflation Rate In October Rose To 2.8%
l  Malaysia Jumps To No. 5 In The Latest World Talent Ranking
Asia
l  Central Bank Seen Fueling Old China As Banks Hold Key To Policy Success
l  Chinese Premier Urges 'New Growth Engines' Amid Slowing Economy: Xinhua
l  Thailand Stepping Up Infrastructure Spending
Americas
l  Brazil Government Slashes 2014 Budget Surplus Goal
l  Mexico Cuts 2014 Growth Forecast After Surprisingly Weak Third-Quarter
Europe
l  Draghi Throws ECB Door Open To Money Printing As Global Prospects Dim
Currencies
l  Dollar Index Ends Week At Four-Year High
Commodities
l  Oil Up First Time In 8 Weeks On China Rate Cut, OPEC Expectations
l  Gold Rallies To 3-Week High After Surprise China Rate Cut

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