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Nikkei Markets


By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Jul 11) -- Here's a round-up of latest news from Malaysia so far on Tuesday:

*INTERVIEW: Careplus To Spend 30 Million Ringgit A Year For 4 Years To Expand Capacity-CEO

Malaysian glove maker Careplus Group plans to spend 30 million ringgit ($6.98 million) annually for the next four years to nearly triple its production capacity to meet growing demand, its chief executive said.

*MARKET BUZZ: Sunac China Up After Dalian Wanda Deal

Sunac China Holdings rallies 8.8% to HK$16.12 after it resumes trading following trading halt on Monday. Mainland developer yesterday announced 63.2 billion yuan ($9.3 billion) proposal to purchase 91% of 13 tourism projects and 76 hotels in China from conglomerate Dalian Wanda Group.

*MARKET BUZZ: Hong Kong's HSI At 1-Week High; Insurers, Geely Automobile Lead

Hang Seng Index advances 1% to 25,746.58, paced by rally in insurers on positive growth outlook. Ping An Insurance Group rallies 1.7% to two-year high, China Life Insurance up 2.1%. "For institutional investors, big mainland insurers remain a strong bet as penetration ratio of insurance in China is quite low.

*MARKET BUZZ: Malaysia KLCI Lower Amid Profit Booking; Tepid Trading Tipped

Malaysia's benchmark KLCI down 0.1% at 1755.84 on continued profit-taking. Asian shares mostly higher, tracking overnight gains in U.S. tech stocks. CIMB Group Holdings drags index with a 2% fall at MYR6.40.

*MARKET BUZZ: Hong Leong Cuts Malaysia's Brahim's To Hold; Lowers TP

Hong Leong Investment Bank downgrades Brahim's Holdings to Hold from Trading Buy, cuts target price to MYR0.56 due to lack of immediate earnings growth catalyst. Shares now flat at MYR0.58.

*Malaysia's Lotte Chemical Titan Shares Start Trading At IPo Price Of MYR6.50

Lotte Chemical Titan Holding, the Malaysian unit of petrochemical giant Lotte Chemical Corp, Tuesday started trading at 6.50 ringgit a share, the same price at which the company sold shares to raise 3.77 billion ringgit from its initial public offering.

*MARKET BUZZ: Malaysia's KLCI Likely Flat On Lack Of Triggers; 1750-1770 Tipped

Malaysia's KLCI Likely to open little changed as investors await for new triggers; index ended down 0.2% at 1757.13 yesterday. Dow Jones barely changed at 21408.52 overnight, despite continued rebound in technology stocks.


Top Stories On Monday, Jul. 10:

*ASIA MARKETS: Nikkei Asia300 Index Advances Amid Gains In Financial, Technology Stocks

Asian stocks outside of Japan rose Monday, led by financials and technology companies, as investors tracked Wall Street gains triggered by better-than-expected U.S. job additions in June.

*7-Eleven Malaysia Holdings: CEO Gary Thomas Brown To Resign July 31

Convenience stores chain operator 7-Eleven Malaysia Holdings said Monday its chief executive Gary Thomas Brown has resigned effective Jul. 31 for "personal reasons."

*ASIA MARKETS: Singapore Stocks Rise Tracking Wall Street Gains; Malaysia Shares Decline

Singapore shares advanced Monday, tracking gains in U.S. stocks following better-than-expected job additions in the world's largest economy. Malaysia stocks edged lower, led by losses in Genting Malaysia.

*Malaysia's WCT Holdings Gets Legal Claims Totalling QAR181.57 Mln

Malaysian construction outfit WCT Holdings said Monday it will take legal actions to defend and to oppose legal claims against the company totalling QAR 181.57 million ($49.87 million).

*ASIA MARKETS: Hong Kong Shares Rise On Banks, Insurers As Deals Help Lift Cosco, Cathay

Hong Kong shares rebounded from a near seven-week low as a clutch of deals in the city dovetailed with upbeat global cues to lift investor sentiment.

*UPDATE: Malaysia June Palm Oil Inventory Falls, Likely To Rise Next Month

Malaysia's palm oil inventory fell 1.93% in June from a month earlier, official data Monday showed, as a Muslim festival-shortened-work days dragged output lower amid robust demand through Ramadan.

*Singapore's Yanlord Land Group Buys Greens Investments For CNY600 Mln

Singapore's Yanlord Land Group, a real estate developer, said Monday its subsidiary has acquired Greens Investments for 600 million yuan ($88.21 million) which shall be paid in five instalments.

*China's Geely Automobile Sees 1H Net Profit Surging More Than 100% On Year

Hong Kong-listed Geely Automobile Holdings on Monday said it expects net profit for the first half of 2017 to more than double on year.

*Malaysia Airports Holdings Handled 10.16 Mln Passengers In June, Up 11.9% On-Year

Malaysia Airports Holdings said Monday its passenger traffic grew 11.9% on year in June led by stronger growth in both domestic and international traffic.

*Singapore Exchange Says Total Securities Market Turnover Down 1% On Year In June

Singapore's total securities market turnover fell 1% on year in June to S$22.4 billion ($16.17 billion), the country's exchange said Monday.

*UPDATE: Singapore GIC Sees High Valuations As Risk, Warns Of Weaker Returns

Singapore's sovereign wealth fund GIC underperformed its reference portfolio over the past 20 years and said returns would be subdued in coming years amid stretched valuations and high policy uncertainty across the globe, according to its annual report released Monday.

*Singtel To Raise S$2.35 Billion From Netlink Sale After IPO Priced Near Bottom Of Range

Singapore Telecommunications Ltd will raise around 2.35 billion Singapore dollars ($1.7 billion) from the divestment of NetLink NBN Trust after the initial public offering was priced near the bottom of an indicative range.

*POLL: Malaysia's May Industrial Output Likely Rose 4% On Year

Malaysia's industrial production is likely to grow at a steady pace in May, driven by manufacturing output, according to a Nikkei NewsRise survey.

*MARKET BUZZ: Malaysia's PanPages Up After Lay Hong Executive Director Joins Board

PanPages jumps 3.4% to MYR0.305 after it appoints Yap Chor How as Executive Director. Yap also Executive Director at Lay Hong and son of chairman Yap Hoong Chai, substantial shareholder in PanPages.

*MARKET BUZZ: Tencent, HSBC Boost Hong Kong's HSI; Resistance At 25,600 - Analyst

Hang Seng Index ends 0.7% higher at 25,500.06 as strong U.S. jobs data lifts global sentiment. Tencent Holdings up 1% after Reuters reports tech giant to launch its popular "Honour of Kings", citing person familiar with matter.

*MARKET BUZZ: Malaysia's Genting Falls To 5-Month Low On Concerns Over US Notes

Genting down as much as 2.3% at MYR9.04, lowest since February, on renewed woes related to investment in US notes by its 49.3% owned Genting Malaysia; shares now down 1.5% at MYR9.05. US$347m (RM1.49b) notes investment to finance pre-development expenses of integrated gaming resort in Taunton is at impairment risk, say analysts.

*Malaysia's LPI Capital 2Q Net Profit Falls Nearly 68% On-Year

Malaysia's LPI Capital, a general insurance provider, said Monday its net profit for the second quarter fell almost 68% on year, primarily due to an absence of one-off gains booked in the same quarter last year.

*Malaysia's Advancecon Gets Construction Sub-Contract For Pan Borneo Highway

Advancecon Holdings, a Malaysian construction company, said Monday it has won a sub-contract job for the proposed Pan Borneo Highway in the state of Sarawak worth 30.11 million ringgit ($7.00 million).

*Malaysia's Enra Group Gets $48 Mln Storage Tanker Contract From Petronas' Arm

Malaysia's Enra Group, an oil and gas services provider and property developer, said Monday it has secured a $48-million (206.33 million ringgit) contract to provide condensate storing and offloading services for PC Myanmar (Hong Kong), a unit of Petroliam Nasional.

*MARKET BUZZ: Morgan Stanley Raises AIA Target Price; Expects Strong 1H Earnings

Life insurer AIA Group up 2% at HK$56.45 after Morgan Stanley increases target price by 10% to HK$66.00; raises value of new business (VNB) growth forecast for 1H2017 and for FY2017. Insurer to report earnings on July 28. "We expect AIA to deliver reported VNB growth of 34% for 1H17, implying solid 2Q growth of 18%,"it says in note.

*ASIA MARKETS: Financials Rally As Hong Kong Stocks Climb, Tracking Wall Street Advances

Hong Kong stocks rallied the most in more than a week, with financial companies leading advances on the back of U.S. equity gains Friday.

*Hong Kong's China Merchants Land Sees 1H Profit Surging At Least 300%

Hong Kong's China Merchants Land on Monday said it expects net profit for the first half of 2017 to at least quadruple.

*MARKET BUZZ: Orient Overseas Surges 19% On Takeover Offer From China's Cosco

Orient Overseas International Ltd jumps 19% to HK$71.4 after China's Cosco Shipping Holdings announces $6.3 billion takeover, offering HK$78.67 offer for each share of OOIL, 31% premium to Friday's closing price.

*KUB Malaysia Independent Advisor Recommends Minority Shareholders To Reject Takeover Offer

KUB Malaysia, a palm oil producer and restaurant chain operator, said Monday its independent advisor Affin Hwang Investment Bank has recommended minority shareholders to reject takeover offer by its substantial shareholder Anchorscape.

*China NT Pharma Group Sees 1H Profit Surging 50% On Year

Hong Kong-listed China NT Pharma Group Company on Monday said it expects net profit for the first half of 2017 to increase about 50% on year.

*Takeover Offer For Malaysia's Wang Zheng Not Fair, Not Reasonable - Independent Advisor

Malaysian fibre-based products maker Wang-Zheng and an appointed independent advisor Affin Hwang Investment Bank have recommended that minority investors reject a takeover offer from its major shareholder.

*MARKET BUZZ: U.S. Stocks Lift Hong Kong's HSI; China Vanke Slips On Reported Share Sale

Hang Seng Index up 0.9% at 25,581.20 following Wall Street higher after U.S. economy added higher number of jobs than analyst forecasts. S&P 500 closed higher 0.6% on Friday, boosted by higher-than-expected 222,000 June job additions. HSBC Holdings up 1.4% as rise in U.S. yields to two-month highs following job data boosts global financials.

*MARKET BUZZ: Kenanga Ups Malaysia's Star Media To Market Perform After Unit Sale

Kenanga Investment Bank Upgrades Star Media Group to Market Perform from Underperform, raises target price to MYR2.35 from MYR1.85 after company gets shareholders' approval to dispose off unit Cityneon. Shares now +0.9% at MYR2.35.

*MARKET BUZZ: Malaysia KLCI Barely Changed, Downward Bias Tipped

Malaysia's benchmark KLCI barely changed at 1759.40, after opening slightly lower. Asian shares mostly higher, tracking Friday's gains in U.S. shares; focus also on China data after June consumer inflation rises 1.5% on-year, in-line with expectation. Petronas Gas with 1.1% gain at MYR18.68 supporting index.

*Malaysia's Advancecon Shares Open 17.5% Higher On Listing Debut

Advancecon Holdings, a Malaysian construction company, rose 17.5% on Monday on its trading debut after raising 56.7 million ringgit ($13.19 million) from its initial public offering.

*Singapore's Miyoshi Swings To Third-Quarter Net Profit On Higher Orders

Singapore data-storage product manufacturer Miyoshi on Monday reported a fiscal third quarter net profit of S$456,000 ($330,015) compared with a net loss of S$170,000 in the same period a year ago thanks to more orders from automotive and data storage customers.

*Singapore Sovereign Wealth Fund GIC Trails Reference Portfolio Over Past 20 Years

Singapore's sovereign wealth fund GIC underperformed its reference portfolio over the past 20 years and said returns would be subdued in coming years amid stretched valuations and high policy uncertainty across the globe, according to its annual report released Monday.

*MARKET BUZZ: Malaysia's KLCI Likely Higher Tracking US; 1750-1770 Band Tipped

KLCI likely to open higher tracking gains in US shares on Friday; index ended down 0.6% at 1759.93 previous session. Dow Jones rose 0.4% on Friday after robust jobs data. Crude oil fell 2.8% as data showed increase in active U.S. oil rigs. "A recovery in regional equity markets and strong export data will lift KLCI higher today," says dealer at local brokerage. Still, "the technical charts and trading volume remain weak and any upside will be capped before there's any significant reversal in foreign outflows," he adds. Index tipped in 1750-1770 band for the day.
- By Kuala Lumpur Newsroom;; +60320267363
- Edited By Shiladitya Ghosh
- Send Feedback to
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd

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