Energy
Brent Crude was down 0.16% to US$48.71 per barrel at 1.54pm.
Forex
Ringgit up 0.37% to 4.2845 versus the US dollar at 2.25pm.
Top foreign stories
Australia holds interest rates at 2%: Australia’s central bank on Tuesday held interest rates at a record low 2%, but kept the door open for further easing as the economy slows on softening Chinese growth. — AFP
Japan’s lofty ‘hydrogen society’ vision hampered by cost: Japan has lofty ambitions to become a “hydrogen society” where homes and fuel-cell cars are powered by the emissions-free energy source, but observers say price and convenience are keeping the plan from taking off.
StanChart announces US$5.1 bln capital-raising plan, posts Q3 loss: Standard Chartered Plc (StanChart) announced plans on Tuesday to raise US$5.1 billion in new capital via a rights issue, as well as new goals for cost cutting and core capital ratio as new chief executive Bill Winters set out his strategy for the lender. The announcement came as Asia-focused StanChart posted a third-quarter operating loss of US$139 million due to growing regulatory costs and rising loan impairments in India. — Reuters
S. Korea inflation at 11-month high, more monetary easing unlikely: South Korea’s annual inflation accelerated to an 11-month high in October, raising the hurdle to further monetary easing as the central bank showed it was wary about taking borrowing costs even lower amid rising household debt and external risks. The consumer price index rose 0.9% in October from a year earlier, Statistics Korea data showed on Tuesday, driven by rising prices in the services sector. — Reuters
Thai central bank seen holding policy rate steady after stimulus: Thailand’s central bank is widely expected to leave its policy interest rate steady on Wednesday for a fourth straight meeting even though the economy is making little headway after more than a year of military rule. — Reuters
Activision Blizzard to buy “Candy Crush” maker King for US$5.9b: Video game maker Activision Blizzard Inc said it will buy “Candy Crush Saga” creator King Digital Entertainment for US$5.9 billion to strengthen its games portfolio.
Top local stories
Higher Q3 earnings for Petronas Chemicals: Petronas Chemicals Group Bhd
posted a strong set of financial results for the third quarter, boosted by higher sales volumes, favourable exchange rate movement and lower feedstock costs particularly for naphtha, propane and butane. It said on Tuesday its earnings rose 38.5% to RM916 million from RM661 million. Revenue was 2.6% higher at RM3.642 billion. — StarBiz
Lay Hong says foreign groups keen on stake: Lay Hong Bhd is in talks with two foreign companies which are keen on buying a strategic stake in the integrated poultry based company. It said on Tuesday it was in the midst of discussions and negotiations with the two parties and also a possible joint venture to invest in an integrated layer farming and integrated broiler processing, either locally or overseas. — StarBiz
MMHE posts lower Q3 net profit: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) recorded net profit of RM16.97mil in the third quarter ended Sept 30, 2015, 57% lower than a year ago. The group attributed its performance to due to lower contribution from the offshore segment. Revenue for the quarter was also lower at RM436.25mil compared with RM539.79mil a year earlier. — StarBiz
Malaysia consumer confidence at 10-year low: Malaysia’s consumer confidence index in the third quarter slipped to a 10-year low of 78 percentage points compared with 89 in the previous quarter, according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions. — StarBiz
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