► Initiate Coverage – KESM Industries (BUY) - In the automotive sweet spot

Today’s Highlights

►    Initiate Coverage – KESM Industries (BUY) - In the automotive sweet spot

►    Sector Update  – Construction (OVERWEIGHT, maintain) - Sustained interest

►    Results Note – Aemulus Holdings Berhad (SELL, maintain) - Still in the red

►    Economy – GDP & BOP 2Q16 - Real GDP growth slowed to 4% yoy in 2Q16

                                                                                                                                  

Outside Malaysia            

►    US stocks slip from all-time highs following lackluster data

►    Consumer sentiment in US increases by less than forecast

►    US retail sales stall as auto dealers’ gain is others’ pain

►    Wholesale prices in US fall by most in nearly a year

►    Euro area slowdown puts onus on Germany as Brexit risks gather

►    Hong Kong economy expands most since 2011, dodging recession

►    China credit growth slows to 2-year low on debt curb concern

►    Oil rises to weekly gain as Saudis reiterate wish for stability