SINGAPORE
Singapore 's government said it intends to remove the one-share-one-vote restriction on public companies and allow those companies to issue nonvoting and multiple-vote shares, adding: "This will give companies greater flexibility in raising capital, and meet different investor preferences."
CapitaMall Trust (CT) announced the pricing of its 10B-yen 7-year bonds with 1.309% coupon at par.
Tiger Airways (TGR) was downgraded to "sell" from "reduce" at Phillip Securities.
US indices closed higher on Wednesday. On the US economic data front, private sector increased payrolls by 162K (140K expected) in September according to the ADP report. Also, MBA mortgage applications for the week ended September 28th rose 16.6%. Finally, the ISM Non-Manufacturing index rose to 55.1 in September (53.4 expected) from 53.7 the previous month. Stocks in the transportation and banks sectors traded higher while shares in the energy and semiconductors sectors were under pressure. Regarding US company news, Hewlett-Packard (HPQ -12.96% to $14.91) collapsed in above average volume following an investor day, as the Co forecast fiscal 2013 non-GAAP diluted EPS of $3.40-$3.60 and GAAP diluted EPS of $2.10 to $2.30. Advanced Micro Devices (AMD -4.59% to $3.12), Dell (DELL -4.75% to $9.43), NetApp (NTAP -3.33% to $31.37) were under pressure after HP's outlook. Separately, Lennar (LEN +6.92% to $37.41), PulteGroup (PHM +6.04% to $16.5) gained on the back of better than expected ADP and ISM Non Manufacturing reports for September. In other news, Deutsche Telekom and MetroPCS Communications (PCS -9.8% to $12.24) have agreed to combine Deutsche Telekom's T-Mobile USA and MetroPCS. After the US market close, Marriott International (MAR) posted a 3Q EPS of $0.44 (LPS of $0.52 a year ago) on revenue of $2.73B vs $2.64B expected, down 5% YoY.
In Europe , the PMI Services for the euro zone fell to 46.1 in September from 46.3 in August. Retail sales for the eurozone grew unexpectedly by 0.1% on a monthly basis, the same rate of growth as seen in June and July. UK PMI Services slid to 52.2 points in September, from 53.7 points in August. Regarding stocks, EasyJet jumped as full-year earnings beat its forecasts. FirstGroup plunged after it was stripped of the country's premier express route. This morning, the Nikkei225 index opened slightly higher.
CHINA - HK
China market closed during October 1-5 for Mid-Autumn Festival and National Day.
CNOOC Ltd (883): Canada 's ruling Conservatives will vote down a parliamentary motion asking the government to hold public consultations on the Co's bid for Nexen Inc said Industry Minister Christian Paradis.
Standard Chartered (2888): Temasek Holdings has no immediate plans to sell shares in the Bank but is pressuring it to appoint more independent directors, reported the WSJ citing people familiar with the Singapore state investment company.
Swire Properties Ltd (1972) announced John Swire & Sons (HK) Ltd is selling its remaining 3.71% stake, or 216.9M shares, in the Co at HK$22.51 per share, adding: "Following the sale of the Sale Shares, JSSHK will cease to have a direct shareholding in Swire Properties but will continue, through its shareholding in Swire Pacific, to have an indirect shareholding in Swire Properties."
Sa Sa International Holdings (178) estimated sales in the first 3 days of the week-long National Day holidays to rise at a double-digit percentage according to the Co's chairman & CEO cited by the Hong Kong Economic Journal.
GCL-Poly Energy Holdings (3800) and Taiwan-listed Foxconn Technology Co will jointly build a 310 MW solar power plant in China reported Bloomberg.
China Oriental Group (581) issued a profit warning saying it may swing to a net loss in 2H from a net income a year earlier.
Google Trend HK - popular searches: AIA Group (1299), Agricultural Bank of China (1288), Dongfeng Motor (489), Hutchison Whampoa (13), Li & Fung (494), Link REIT/The (823), Standard Chartered (2888)
Guangzhou Automobile (2238): ex-div HK$0.063
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