Morning News - 4 March 2014 - KLCI / AUTO / PROPERTY

Today’s Highlights

* Strategy – KLCI (OVERWEIGHT, maintain)  - 4Q13: the 12th quarter of negative earnings revision
* Sector Update – Auto & autoparts (UNDERWEIGHT, maintain)  - Against a high base, cherry pick winners in the sector
* Flash Note – Property (NEUTRAL) / Construction (OVERWEIGHT)  - 20 pre-qualified for RRI land town centre development

* Outside Malaysia

- US stocks decline most in a month on Ukraine turmoil
- Consumer spending in US rose more than forecast in January
- Manufacturing in US expands more than projected
- Draghi sees some progress on Euro-area bank lending
- Italy exports failed to offset weak demand in 2013 contraction
- Russia raises main rate as Ukraine crisis threatens economy
- Bank Indonesia is confident inflation will stay under control
- Crude rises to five-month high on Ukraine