Market wrap: The Dow and the S&P 500 edged lower on Monday as energy shares dropped with oil prices and Apple retreated a day before its quarterly results. Investors were cautious ahead of the Federal Reserve's two-day policy meeting, which begins on Tuesday. The market is looking for clues on the outlook for when the Fed may begin raising interest rates. - Reuters
The DJIA fell 23.65 points, or 0.13%, to 17,623.05, the S&P 500 lost 3.97 points, or 0.19%, to 2,071.18 and the Nasdaq added 2.84 points, or 0.06%, to 5,034.70.
Forex summary
*The ringgit lost 0.18% to 4.2370 per US$
*It is down 0.35% to 4.6822 per euro
*Down 0.35% to 6.5062 to the pound sterling
*0.52% down to 3.0498 per Singapore dollar
*0.21% lower to 3.0753 per Aussie
*Down 0.58% to 3.5127 per 100 yen
Energy
Crude prices fell again on Monday, staying under pressure after two straight weeks of losses, on worries that the oversupply in oil products would swell from unseasonably warm weather and the waning maintenance cycle for US refineries. Brent, the global benchmark for crude, settled down 45 cents, or almost 1%, at US$47.54 a barrel. - Reuters
Top foreign stories
JPMorgan Chase says it is building a rival to Apple Pay: PMorgan Chase & Co said on Monday it will soon launch its own competitor to Apple Pay that will allow consumers to pay retailers using their smartphones in stores, and it has already won the endorsement of a major group of merchants. - Reuters
ICE to buy market data firm Interactive Data in US$5.2b deal: Intercontinental Exchange Inc (ICE) said on Monday it would buy financial data firm Interactive Data Corp from investment firms Silver Lake and Warburg Pincus LLC in a deal valued at about US$5.2 billion. ICE said the deal, which includes US$3.65 billion in cash and US$1.55 billion in ICE stock, will help build on ICE's market data business by adding technology platforms and increasing new data and valuation services
Top local stories
APIIT boost for Sapura Resources: Speculation if rife that Ekuiti Nasional Bhd (Ekuinas) will buy over the balance 49% in APIIT Education Group, which is under Ilmu Education Group Bhd, from diversified group Sapura Resources Bhd
to beef up the business fundamentals of Ilmu before its listing on Bursa Malaysia, which is expected to happen next year. - StarBiz
IOI’s Lee explains why he sold land IOI Properties Group Bhd chairman Tan Sri Lee Shin Cheng says he is injecting of his private land into IOI Properties in exchange for shares because he sees long-term value in the deal. “I will only do this (getting most of the payment in shares) for a company I am controlling. The subject land to be injected, especially due to its location, has very good prospects and will enhance IOI Properties. My actions (of taking shares) clearly show that I am very confident in the future of my company. I will not sell the land to anyone else,” Lee said after the IOI Properties’ AGM. - StarBiz
DiGi posts RM396mil profit: DiGi.Com Bhd posted a net profit of RM396.6mil in the third quarter ended Sept 30 and declared an interim dividend of 5.1 sen per share amounting to RM397mil, or an almost 100% payout ratio to shareholders. The dividend is payable on Dec 4. - StarBiz
Bina Puri gets RM230mil PR1MA project in JB: Bina Puri Holdings Bhd has secured a 1Malaysia People’s Housing (PR1MA) project for affordable housing worth RM230mil in Johor Baru. The company said the contract was for the construction of 994 residential units and 20 shops on 18.23 acres of freehold land at Mukim Plentong, Masai. - StarBiz
Ajiya proposes up to 10% share placement: Glass and building materials maker Ajiya Bhd is proposing a placement of up to 6.92 million shares or 10% of its share capital to independent third-party investors. Ajiya said the private placement could raise gross proceeds of RM25.96mil, based on an indicative issue price of RM3.75 per share. - StarBiz
Azman suggests mid-year budget review: AmBank Group chairman Tan Sri Azman Hashim suggests that the Government should review its budget at mid-point to furthe improve the degree of transparency and that it should be more prudent in its spending. - StarBiz
‘Sarawak to buy MASwings’ shares, not form airline company’: Sarawak does not have any plan to set up a new airline company, said the states's Housing and Tourism Minister Datuk Amar Abang Johari Tun Openg. He said the state government was only keen to purchase MASwings airline company shares from Khazanah Nasional. - Edge FD
AGMs/EGMs
IOI Corporation Bhd
Time: 10am
Venue: Putrajaya Marriot Hotel, IOI Resort City, Sepang Utara
Hong Leong Bank Bhd
Time: 10am
Venue: Wisma Hong Leong, 18 Jalan Perak, Kuala Lumpur
Limited time offer:
Just RM5 per month.
