Malaysia-Market factors to watch Wed Jan 4


  • Business
  • Wednesday, 04 Jan 2012

KUALA LUMPUR: Following is a list of events in Malaysia as well as news stories and press reports which may influence financial markets.

WHAT IS HAPPENING IN MALAYSIA, TIMES LOCAL FOLLOWED BY GMT:

>Advisor to the Global Movement of Moderates 2012 Tan Sri Razali Ismail attends second press conference on GMM2012, at Park View 2, Level 2, Mandarin Oriental hotel at 10.30am (0230)

>Home Minister Datuk Seri Hishammuddin Tun Hussein holds a press conference, at Level 11, Block D1, Complex D, Putrajaya at 3.00pm (0700)

MARKET SNAPSHOT:

* At the start of 2012, Maxis Berhad leads the pack of 10 stocks on the index, with the highest dividend yield of 5.84.

* Hoping for something better than 2011's flat stock market, U.S. investors pushed shares higher on Tuesday to begin the new year, though questions remain about whether a rally can be sustained.

* Stocks and the euro started the year with a sharp rally on Tuesday, boosted by better-than-expected U.S. and European data and hopes the Fed could ease monetary policy further, even as crude surged on tensions between the United States and Iran.

* Malaysian crude palm oil futures rose to a six-week high on Tuesday, buoyed by strong crude prices and expectations of lower output in Southeast Asian producers due to wet weather.

IN THE NEWS REUTERS MALAYSIA

> "Dogs of the index" beat FTSE Bursa Malaysia in 2011

> Sing dlr, ringgit breach resistance, Asia FX outlook cautious

> USD/MYR breaches 55-DMA, may head to 3.1396

> Won breaks resistance, but Asia outlook still cautious

> Malaysia Tapis crude OSP down at $115.33/bbl for Dec

* Short-term investors bought emerging Asian currencies on Tuesday, helping the Singapore dollar and the ringgit break resistance lines on improving risk appetite on the first trading day of the year in most markets.

* Most Southeast Asian stock markets rose on Tuesday, with risk appetite improving at the start of the new year and as sentiment was boosted by a rally in European stocks and positive Chinese economic data.

DIARY - Malaysia 04 January 2012

ALL TIMES ARE PROVISIONAL AND IN LOCAL TIME FOLLOWED BY GMT (IN BRACKETS

WEDNESDAY, JAN 4

* KUALA LUMPUR - Advisor to the Global Movement of Moderates 2012 (GMM2012) Razali Ismail attends second press conference on GMM2012 at Mandarin Oriental Hotel at 1030am (0230).

* PUTRAJAYA - Home Minister Hishammuddin Hussein holds a press conference at Block D1, Complex D, Putrajaya at 1500pm (0700).

THURSDAY, JAN 5

* KUALA LUMPUR - World Islamic Tourism Mart (WITM 2012) launched by Deputy International Trade and Industry Minister Mukhriz Mahathir and followed by press conference at Matrade Exhibition & Convention Centre, Kuala Lumpur at 0900am (0100).

* KUALA LUMPUR - 2012 Frost & Sullivan Malaysia Automotive Outlook at Frost & Sullivan Office Block C, Plaza Mont Kiara, Kuala Lumpur (to Jan 6).

* KUALA LUMPUR - National procurement Forum for the Private & Public Sector's press conference at Istana Hotel, Kuala Lumpur at 0930am (0130).

* PETALING JAYA - KESM Industries Bhd holds AGM at Hilton Hotel, Petaling Jaya at 1030am (0230).

FRIDAY, JAN 6

* KUALA LUMPUR - Signing ceremony between Malaysian Association of Tour & Travel Agents (MATTA) Academy Sdn Bhd and Talent Enhancement Academy UKM Holdings Sdn Bhd at Wisma MATTA, Jalan Metro Pudu, Fraser Business Park, Kuala Lumpur at 1100am (0300).

* KUALA LUMPUR - Nikon Product launch at Berjaya Times Square Hotel, Jalan Imbi, Kuala Lumpur at 1230pm (0430)

S.American, SE Asian weather concerns to drive palm oil

04 January 2012

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.

FUNDAMENTALS

* Malaysian crude palm oil futures rose to a six-week high on Tuesday, buoyed by strong crude prices and expectations of lower output in Southeast Asian producers due to wet weather.

* Grains began the new year on a strong note on Tuesday, with corn and soybeans advancing on worries about hot, dry crop weather in Argentina slashing production, coupled with a renewed appetite for risk in global financial markets.

* Oil prices surged on Tuesday, with U.S. crude hitting the highest settlement since May, fueled by strong economic data from the United States and China and mounting concern about supply disruption from Iran.

MARKET NEWS

* Stocks and the euro started the year with a sharp rally on Tuesday, boosted by better-than-expected U.S. and European data and hopes the Fed could ease monetary policy further, even as crude surged on tensions between the United States and Iran.

* Commodities began 2012 with a bang as a key market benchmark posted its largest gain in three months on Tuesday, but the unresolved European crisis and fears of last year's volatility continuing made analysts wonder if it was too early to rejoice.

RELATED NEWS

> Weather erratic for Brazil soy as harvesting starts

> Argentina weather seen dry all week, corn at risk

> Cropcast cuts Argentine corn, soy estimates

> Malaysia's December palm oil exports down 3.3 percent-SGS

> Singapore Hot Stocks-Mewah up on Indonesia investment.

PRESS DIGEST - MALAYSIA - Jan 4

Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE STAR (www.thestar.com.my)

* The Malaysia Competition Commission (MYCC) wants AirAsia Bhd and Malaysia Airlines (MAS) to provide more information and documents regarding their share swap agreement to find out if it could potentially put air travellers at a disadvantage, MYCC chief executive officer Shila Dorai Raj said.

NEW STRAITS TIMES

* In a swift reaction, the Home Ministry has set up a committee to investigate claims of organised corruption at the country's border checkpoints.

BUSINESS TIMES

* The winner for the contract to build the Gemas-Johor Baru electrified double-track railway line will only be known in March, government sources said.

* The Malaysian stock market started the new year on a weak note, bucking the regional trend, as investors locked in profits from a rally on the last trading day of 2011, analysts said.

THE SUN * The Kedah government will review the decision by the Kulim district office to stop issuing liquor licences at the end of June, state executive councillor Lim Soo Nee said.

* Historically, January tends to be a good month for investors. For the past 13 years, the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) had made positive returns in 11 out of 13 Januaries, with an average gain of 2.3 percent in that month.

THE EDGE FINANCIAL DAILY * Just over a year after expanding its brand portfolio to include rights for Braun Buffel in the Asia-Pacific, homegrown fashion label Bonia Corp Bhd is taking a bigger step abroad by taking a 49 percent stake in the Germany-based leather goods maker in a deal worth 3.2 million sterling (13.1 million ringgit), the company said.

THE MALAYSIAN RESERVE

* The general election, expected to be called this year, could potentially be a wild card for equities performance as the government accelerates big ticket projects in the run up to the polls, HwangDBS Vikers Research Sdn Bhd (HDBSVR) said in its investment strategy report.

* Rare earth processing company Lynas Malaysia Sdn Bhd has applied for a temporary operating licence from the authorities and the documents are now on display for public scrutiny and feedback from January 3 to 17.

($1 = 3.1490 Malaysian ringgits) - Reuters

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