2010/05/07 News Update

US closed -347.80 to 10,502.32 on 6/5/2010
Crude oil -USD2.86 to USD77.11 per barrel

US stocks plung before parring losses/ Bloomberg
- US stocks tumbled the most in a year on concern Europe's debt crisis will halt the global recovery. The selloff briefly erased more than $1trillion in market value as the Dow Jones Industrial Average fell almost 1,000 points, a 9.2% plunge that was its biggest intraday percentage loss since 1987, before paring the drop

Electronic Trading to blame for Stock Market plunge, NYSE's Leibowitz says

Nasdaq to cansel trades of stocks moving more than 60% in market plunge

China's accelerating producer prices may show yuan peg stoking inflation

Europe equity fund outflows jump to $2bil in week on Greece concerns

Swire properties pulls $2.7bil Hong Kong offers as IPO slump deepens

Euro set to rally above $1.30 after 'excessive' slide: Technical analysis

Crude oil may slide to $60 after biggest three day decline in 15 months

Citigroup finds 'no evidence' bank was invloved in Erroneous stock traders

Greek violence threatens to scare away tourists needed for saving economy

US Stocks plunge most in year as 'panic selling' grips market

Maxis testing 4G technology./ The Star
-Celco also conducting trials for IPTV as part of growth strategy.

Experts confident of Asia's long term fundamentals./ The Star
-Market observers are confident that the long term fundamentals in Asia outweigh any temporary sell-down due to the Greek debt crisis.

Intel to close R&D unit in Kulim Hi-tech Park./ The Star
-According to the source, Intel would gradually close the unit over the next 12mths.
-The workdone at the KHTP facility would be transferred  back to Arizona.

FTA talks with EU enter second round./ The Star
-Envoy says a successful agreement will benefit bilateral trade.

TM to maintain dividend at last year's level./ The Star
-the company aims to stick to its dividend payout policy of a minimum RM700mil or up to 90% of normalised profit after tax.

Higher LNG profit lifts MISC earnings./ The Star
-MISC posted a 36.5% jump in its net profit to RM196.4mil and recommeded a final dividend of 20sen per share tax exempt.

Economist: Q1 GDP seen at over 9%./ The Star

Maxbiz escapes suspension./ The Star

TH Plantations to grow landbank to 50,000 in 2year./ The Star

Stock market heading for better times./ The Star
-Petronas listing in H2 will spill over into the oil and gas play.

Ijm unit bags RM247mil Sarawak road contracts/ The Star
-2 other firm also win jobs for the Murun dam access road.

M-sport plans 1 for 4 rights issue./ The Star

Sarawak Cable plans two new products./ The Star

Bank Islam eyes stake in PT Bank Muamalat./ The Star
-Midest investors also interested in Indonesia's biggest islamic bank.

The Sabah factor in Petra Energy's plans./ The Star

BiotechCorp to focus on commercialising local research./ The Star