Overnight Markets Highlights (18 May 2017, Thursday)

Overnight Markets Highlights (18 May 2017, Thursday)

US Market :
U.S. closed sharply lower on Wednesday as investors fretted over the latest news coming out of Washington. Dow sheds 370 points; stocks close lower and wipe out monthly gains on Trump fears, recorded the worst day since September of last year.

Europe Market :
European stocks closed sharply lower on Wednesday on reports President Donald Trump asked the former FBI Director James Comey to end a probe into the former national security advisor.

Precious Metal :
Gold rose to its highest in two weeks as political turmoil and weak economic data in the United States reduced expectations of aggressive interest rate rises this year, pushed down U.S. yields and drove the dollar to its lowest in six months.

Crude Oil :
Oil prices rose on Wednesday after U.S. government data showed a decline in domestic crude inventories and strong refining activity in the world’s largest oil consumer, ahead of next week’s meeting of major oil producers.

Indices & Commodities :
DJIA: 20,606.93 (-372.82)
S&P500: 2,357.03 (-43.64)
NASDAQ: 6,011.24 (-158.63)
DAX: 12,631.61 (-172.92)
FTSE: 7,503.47 (-18.56)
EuroStoxx50: 3,582.99 (-58.90)
Comex Gold: 1,258.7 (+22.3)
Comex Copper: 2.5465 (-.0040)
WTI Crude Oil: 49.07 (+.41)
Crude Oil: 52.21 (+.56)

Economic Events :
9.30AM – AUD Employment Change
4.30PM – GBP Retail Sales
8.30PM – USD Philadelphia Fed Manufacturing Index
1.00AM – EUR ECB President Draghi Speaks

FX & Bonds :
USD/MYR – 4.323
EUR/USD – 1.116
GBP/MYR – 5.606
AUD/MYR – 3.213
SGD/MYR – 3.109
Msia 10 yr Bond Yield – 3.88%

17/5/2017 Bursa Trade Stat :
Retail (21.77%) – net BUY 22.17mil
Institution (56.2%) – net BUY 28.93mil
Foreign (22.03%) – net SELL 51.1mil
Total traded value 2881.11mil

Corporate News Roundup

• SEACERA plans to pay RM4.50 million in cash and the balance purchase consideration of RM12.4 million by issuing 8.86 million shares at RM1.40 apiece.

• MRCB has proposed a one-for-one renounceable to pare down its borrowings and to finance the refurbishment of the national sports complex in Bukit Jalil.

• KKB net loss narrowed by 24.6% to RM1.48 million for the 1QFY17, from RM1.96 million a year earlier.

• FLBHD posted a 88.92% ⬆ in net profit in 1QFY17 to RM6.26 million or 6.06 sen per share, from RM3.31 million or 3.21 sen a year earlier.

• ANZO, a timber product maker and , has reported profit after 16 consecutive loss-making financial quarters.

• UEMS announced a 20-fold jump in its net profit for the 1QFY17, on higher revenue from its development projects, and revision of estimated cost for completed ones.

• AMWAY reported a 48% ⬇ in net profit to RM9.45 million in 1QFY17, from RM18.05 million a year ago.

• HUAYANG registered a 56% fall in net profit in 4QFY17 to RM9.46 million, from RM21.32 million a year ago, as revenue shrank 37%.

• FPI net profit in 1QFY17 surged over 11 times, on the back of higher sales and a gain on foreign exchange.

Sources: theedgemarkets.com ; thestar.com.my

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