Kenanga Today : 12 July 2012

NEWS HIGHLIGHTS

- Maxis to exit India

- 38.5% surge in Zhulian net profit

- AirAsiaExpedia JV takes off with strong regional presence

- Mudajaya, Gadang win jobs from MRT Corp

- Hing Yiap to buy 6 firms for RM245.0m

- CB Industrial gets mill contract

- SAAG awarded RM3.93m jobs in India, Mideast

- MBSBaims to open 10 branches this year

FOREIGN NEWS HIGHLIGHTS

- Blackstone said to bid for ING Asiawith Ex-AIA Head

- Australia's Telstra to sell New Zealand operations toVodafone

ECONOMIC NEWSHIGHLIGHTS (MACRO BITS)

Malaysia

- Industrial Production For May Grew By 7.6% YoY

Asia

- Merkel Wants Greater Effort On EU-SE AsiaTrade Agreement

- South Korea Adds Workers As Jobless Rate Unchanged

- China Cuts Retail Fuel Price By 5% As Oil DemandFalls

USA

- Federal Reserve Keeps Policy Options Open

- US TradeDeficit NarrowsIn May

- Wholesalers In U.S. Lift Stockpiles At Slower PaceAs Sales Fall

Europe

- ILO Warns Eurozone Risks Losing 4.5 Million More Jobs

- Spain Announces Budget Cuts Amid Protest

- German Inflation Rate Dropped To Lowest In 17 Months

Currencies

- U.S. Dollar Index Up As Fed Downplays QE3

Commodities

- Oil Rises As Crude Supplies Drop, Refinery Activity Gains

- Gold Gains, Off 1-1/2 Week Low; Dollar Weighs

Source: Kenanga