Thursday, August 13, 2015

Morning News - 13 August 2015 (Attachment: Hong Leong Bank)

►     Company Update – Hong Leong Bank (BUY, maintain) - Raising RM3bn capital via rights issue




Today’s Highlights
►    Company Update – Hong Leong Bank (BUY, maintain) - Hong Leong Bank to raise RM3bn (separate note will follow)
►    Results Note – Nestle (HOLD, maintain) - Favorable boost from lower raw-material costs
►    Economy  – Malaysian Ringgit - Will PBOC devalue the Chinese Yuan further?



Quick Bites
►    UMW: UMW and Rolls Royce team up to produce aero fan cases



Outside Malaysia
►    S&P 500 index erases 1.5% drop sparked by China concerns
►    Job openings in US decrease from record as hiring picks up
►    Europe industrial-output slump puts damper on short-term outlook
►    PBOC expects more yuan fluctuations as market adapts to fixing
►    China’s weaker output, investment adds to currency pressures
►    India inflation eases, adding pressure on Rajan to cut rates
►    Vietnam widens dong’s trading band after China devalues yuan
►    Oil rebounds from six-year low on weakening US dollar

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