U.S stocks ended higher before the memorial day holiday after US Fed Chair Janet Yellen said an interest rate hike would likely be appropriate in the coming month as U.S economy has improved enough to warrant tigher borrowing cost.
European mkt:
European stocks ended relatively flat amid concerns over U.S Fed rate moves and US traders eyed a long weekend.
Gold :
Gold prices fell on friday as dollar spiked after Janet Yellen said a rate hike was probably appropriate in the coming months.
Crude oil :
Crude oil prices fell on friday on stronger dollar and long term supply concerns remained in focus ahead of memorial day weekend.
M'sia mkt:
Bursa mkt ended higher on friday following positive U.S economy data, which led to US interest rate rise expectations.
Crude palm oil:
M'sia palm oil futures fell on friday, weighed down by stronger Ringgit which triggered some selling.
Newsflow:
* Magna Prima : 1Q net profit tumbles 91% on completion of projects
* Tune Project : 1Q earnings grow 38% as revenue strengthens
* Melewar : back to black on better margins
* Daya : sinks further into losses in 1Q with no demand for Siem Daya 1&2
* Kulim : swings into the red in 1Q on forex loss
* Allianz : 1Q net profit slips 0.62% to RM73.2m on lower performance in 2 segments
* Karex : to buy UK condom maker Pasente for RM35.8m
* IOI Prop : 3Q earnings jump as revenue rises with overseas & retail contribution
* UEM Edgenta : 1Q net profit falls 45% on lower revenue in 2 division
* Tanah Makmur : posts lower earnings in 1Q
* Mudajaya: posts RM5.95m profit in 1Q, bullish on outlook
* Sunway : 1Q earnings slide 30% on absence of capital gains fr divestment
* Silk : gets one year extension to supply RM8.8m vessel
* PIE : 1Q net profit down 80% on year
* Tong Herr : net profits soars 124.5% on reclassification adjustment
* MKH : 2Q profits surge 5x, expects better FY16
* JHM : plans migration to mainboard by fy18
DJIA: 17873.22 (+44.93)
Dax: 10286.31 (+13.60)
FTSE 100 : 6270.79 (+5.14)
Gold: 1216.70
Crude oil : 49.59
KLCI : 1637.19 (+6.1)
FCPO: 2558 (-20)
USD/ MYR: 4.09
M'SIA 10 yr bond yield : 3.9%
U.S 10 yr bond yield: 1.851%
Fri's ' bursa trade stat:
Local Institutions (49.7%) : net SELL 25.4m
Retail (17.1%) : net SELL 14.7m
Foreign (33.2%) : net BUY 40.1m
http://aimthebull.blogspot.my/2016/05/stock-news_30.html
