Friday, April 1, 2016

Morning News - 1 April 2016 - GAMUDA, MMC, Banking, Asean Weekly Wrap


Today’s Highlights
     Company Update – Gamuda (Buy, maintain) – MRT2 in the bag
    Flash Note – MMC (Buy, maintain) – MRT2 in the bag
    Sector Update – Banking (Overweight, maintain) – A seasonally slow February, 2Q to pick up
    Economic Update – ASEAN Weekly Wrap  – Major Asean currencies strengthened on dovish Fed


Outside Malaysia  
    Whipsaw quarter for US stocks ends with whimper as jobs loom
    Initial jobless claims in US rose last week to two-month high
    Euro area prices drop for 2nd month before ECB beefs up QE
    German unemployment unchanged as migrants bolster workforce
    Spain misses 2015 deficit goal adding to pressure for cuts
    China rating outlook cut at S&P on risk of slow rebalancing
    Hong Kong retail sales plunge the most in 17 years
    Oil closes near US$38 as dollar recovers, US stockpiles grow

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