SINGAPORE
Singapore 's PMI declined to 49.1 in August from 49.8 a year earlier and staying below the 50 level that separates expansion from contraction, the Singapore Institute of Purchasing & Materials Management (SIPMM) said.
Singapore Exchange (SGX) released August12 securities market turnover value of around S$29.4B, up from S$26.5B in July but down 29% YoY, while derivatives volume fell 20% YoY to S$6.5M contracts.
Oversea-Chinese Banking Corporation (OCBC) priced $1B of fixed rate subordinated notes under its $10B Global Medium Term Note Program at 99.905%, that will bear a 3.15% coupon.
StarHub (STH) plans to sell S$220M of 3.08% fixed rate notes due 2022, as part of its S$1B multicurrency medium term note programme.
Mapletree Industrial Trust (MINT): Fitch Ratings affirmed its "BBB+" ratings on the Co with a stable outlook. "The ratings are supported by (...) its stable operating performance, high occupancy rates, adequate debt service coverage, and an experienced management team. The ratings also reflect MIT's tight liquidity and geographical concentration in Singapore , as well as the inherent cyclicality of the industrial property market."
Keppel Corp (KEP): Keppel Shipyard managing director Nelson Yeo passed away.
US markets were mixed on Tuesday. On the US economic data front, ISM manufacturing fell to 49.6 (50.0 expected) in August from 49.8 the previous month. Construction spending slid 0.9% MoM (+0.4% expected) in July. Stocks in the telecommunication services and food & staples retailing sectors traded higher while shares in the materials and semiconductors sectors were under pressure. Looking at some US company news, Valeant Pharmaceuticals International (VRX +14.65% to $58.78) has agreed to buy Medicis Pharmaceutical (MRX +38.31% to $43.65) for $44 a share in cash or $2.6B in total. Separately, Medivation (MDVN +4.15% to $109.21) continued to benefit from the FDA approval of its prostate cancer drug Xtandi developed with Astellas Pharma. In other news, Alpha Natural Resources (ANR -6.9% to $5.53), Cliffs Natural Resources (CLF -6.03% to $33.68), Peabody Energy (BTU -3.37% to $20.9), Arch Coa (ACI -5.24% to $5.79) were under pressure following CONSOL Energy's mine idling decision. At last, Ford Motor (F +0.75% to $9.41): August US sales rose 13% YoY to 197,249 units and retail sales were up 19% YoY.
In Europe , euro zone PPI gained 0.4% in July (+0.2% expected) vs -0.5% in June. In UK , BRC sales like-for-like YoY were down 0.4% in August (-0.5% expected) vs +0.1% in July. Still in UK , PMI construction dropped to 49 in August vs 50.9 in July and 50 anticipated by economists. Regarding the stocks, Royal Ahold gained ground as the Co said it may sell its 60% stake in ICA . Ashtead Group jumped on positive FY outlook. This morning, the Nikkei225 index opened lower.
CHINA - HK
Hong Kong 's August home sales reached HK$39.7B compared to HK$31.8B a year ago.
China steel industry recorded a 1.98B yuan loss in July, China Business News reported, citing a document from the China Iron and Steel Association.
China could expand rebates on exporters' tax to 17% from the current range of 13%-15% as soon as this month, Bloomberg reported.
SmarTone Telecommunications (315) reported FY Net profit up 36% to around HK$1B. "Total revenue increased by 50% to HK$9.95B, with a 24% growth in service revenue. EBITDA increased 39% to almost HK$3B. Earnings per share increased to 99 HK cents, compared with 73 HK cents (adjusted for the bonus issue in April 2011) last year." In addition, the Co proposed final dividend of HK$0.53 per share, making full year dividend of HK$0.99 per share, at 100% payout ratio.
PICC Property & Casualty (2328)'s parent company People's Insurance Company plans to raise up to $3B in an initial public offering in October or November (Bloomberg).
Lenovo Group (992): Japan 's NEC Corp plans to sell of 281.1 shares in the Co at HK$6.30-HK$6.50 (Dow Jones). In other news, Brazilian Exame magazine said the Co plans to acquire CCE, an electronic goods manufacturer in Brazil .
China Railway Group (390)'s president said China plans to boost spending on railway construction this year to 496B yuan from 470B yuan.
China Vanke (000002) August sales rose 9.2% from July to 11.35B yuan. In terms of floor space, August sales totaled 1.044 million square meters, up from 960,000 sqm in July but down from 1.22 million sqm in June.
Hutchison Whampoa (13) sold Hutchison Global Services, its India-based call-center operations, to India 's Tech Mahindra for $87.1M.
Tencent Holdings (700) to sell $600M of 3.375% senior notes due 2018 on Thursday.
Google Trend HK - popular searches: CSR Corp Ltd (1766)
PetroChina (857): ex-div HK$0.13725
No comments:
Post a Comment