Monday, August 10, 2015

Morning News - 10 August 2015 - E&O / KLCCP / PCHEM / Malaysia Reserves / US Weekly

Today’s Highlights
    Company Update – E&O (BUY, maintain) – Imminent catalysts
    Results Note  – KLCCP (HOLD, downgrade) – Operationally flat in 2Q15
    Results Note – PCHEM (SELL, maintain) – Results disappoint on low plant utilisation
    Economic Update – Malaysia – Foreign Reserves - Malaysia’s reserve position fell to US$96.7bn at end-July
    Economic Update – US Weekly Wrap - Non farm payrolls rose by a healthy 215k in July


Outside Malaysia
    US stocks slip amid job data as biotech, commodity soar

    Payroll rise of 215,000 in July keeps Fed on track for September

    Consumer borrowing in US increased more than forecast in June

    German industrial production drops as Chinese slowdown looms

    Greece races to secure bailout deal amid German doubts

    China exports fall as lower demand, strong yuan hurt growth

    Bank of Japan leaves monetary policy unchanged as forecast

    Crude poised for sixth weekly decline amid global glut

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