Friday, August 26, 2016

► US stocks fell as investors await speech by Yellen

Today’s Highlights
    Results Note  – Maybank (HOLD, maintain) - Credit cost clouded 1H16
    Results Note – IHH Healthcare (HOLD, maintain) - 1H16 earnings below expectations
    Results Note  – Axiata (HOLD, maintain) - Still facing headwinds
    Results Note – Genting (HOLD, maintain) - A decent quarter
    Results Note – Genting M’sia (BUY, maintain) - UK business sees sustained turnaround
    Results Note – YTL Corporation (HOLD, maintain) - A tepid quarter
    Results Note – YTL Power International (HOLD, maintain) - Delivers on dividends
    Results Note  – Genting Plant (SELL, maintain) - Still below expectations, maintain SELL
    Results Note  – MMC (HOLD, downgrade) - Expecting a better second half
    Results Note  – AEON Co. (M) (HOLD, maintain) - Earnings hit by higher costs due to new stores
    Results Note  – MRCB (BUY, maintain) - Asset disposal gains
    Results Note  – Eastern & Oriental (BUY, maintain) - Core earnings rebounded
    Results Note  – Sunway Construction (BUY, maintain) - Transition stage
    Results Note  – Jaya Tiasa (BUY, upgrade) - FY16 results better than expected
    Results Note  – Tropicana (BUY, maintain) - Achieved property sales of RM502m in 1H16
    Economy – ASEAN Outlook – Weekly Wrap - BI likely to cut policy rates further despite recent pause



Outside Malaysia            
    US stocks fell as investors await speech by Yellen
    Fed officials push hike case before Yellen in Jackson Hole
    Jobless claims in US decline to lowest level in five weeks
    Orders for US capital equipment climb by most since January
    Spanish economy beats growth estimate despite deadlock
    German Ifo confidence falls less than expected after Brexit vote
    Net migration into UK remains at near-record levels
    Oil climbs as Iran seen taking part in informal OPEC meeting

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