Kenanga Today : 3 September 2012

NEWS HIGHLIGHTS

- Hap Seng Consolidated 2Q net profit rises 13.6% y-o-y

- Petronas unit oils growth plan

- Gadang targets jobs worth RM2.0b

- UOA eyes RM4.0b new property sales

- Xingquanto cash in on first mover advantage

FOREIGN NEWS HIGHLIGHTS

- IAG may take stake in combined U.S. airline

- Nomurato cut USD1b of costs in wholesale unit

ECONOMIC NEWSHIGHLIGHTS (MACRO BITS)

Global

- Food Prices Jump Will Hit Poor, World Bank Warns

Asia

- Japan's Industrial Output Falls On Weak GlobalDemand

- China Manufacturing Unexpectedly Contracts AsOrders Drop

- South Korea Exports Fall For Second Month On Europe, Won

- India's Economic Growth Better Than Forecast

USA

- US Consumer Spending Up 0.4% In July

- US Fed Chief Ben Bernanke Hints At Further Measures

Europe

- Eurozone Unemployment At New High

- German Retail Sales Fall 0.9% In July

- European Central Bank Urged To Take Eurozone Action

- Brussels Pushes For ECB Supervision Of EurozoneBanks

- Cameron Says U.K.Government To Stick With Deficit-Cutting Plans

Currencies

- Dollar Falls To Lowest In More Than 3 Months

Commodities

- Oil Posts Second Monthly Rise, Tops $114 After Bernanke

- Gold Soars To Five-Month High On Fed Stimulus Hopes

Source: Kenanga