Morning News - 4 August 2015 - PCHEM / AXREIT / ECONOMY - PMI

Today’s Highlights

►    Company Update – Petronas Chemicals (SELL, maintain) - Likely decent 2Q results, but priced in

►    Results Note  – Axis REIT (BUY, maintain) - Gathering pace qoq, 2H15 to be stronger

►    Economy – Manufacturing PMI - Msia’s PMI still below the 50 mark for 4th straight month

Outside Malaysia

►    US stocks decline as Apple shares, commodities producers slump

►    Manufacturing in US cooled in July from five-month high

►    Americans kept spending in June to end better second quarter

►    ECB exceeds monthly asset-purchases target before summer lull

►    UK manufacturing growth ‘near stagnant’ as export demand drops

►    Greek manufacturing slumps at record pace as crisis takes toll

►    Widodo pushes industrialization as Indonesia economy seen slower ►    Brent tumbles below US$50 on Iran plans, China slowdown