The Edge Markets April 22, 2015 09:38:57 am

The Edge Markets April 22, 2015 09:38:57 am

Coastal Contracts, Iskandar Waterfront, MRCB, Icon Offshore, AmProp, PetDag, Econpile, Bursa Malaysia, MNRB, Nexgram and TMC Life
April 22, 2015 11:11:17 pm
KUALA LUMPUR (Apr 22): Based on corporate announcements and news flow today, the companies that may be in focus tomorrow (Thursday, Apr 23) could be: Coastal Contracts Bhd, Iskandar Waterfront City Bhd, Malaysian Resources Corp Bhd, Icon Of... ...

U.S. home sales hit 18-month high; prices accelerate
April 22, 2015 10:58:19 pm
WASHINGTON (April 22): U.S. home resales surged to their highest level in 18 months in March as more homes came on the market, a sign of strength in housing ahead of the spring selling season. The National Association of Realtors said on We... ...

Wall St slips on mixed bag of earnings
April 22, 2015 10:54:33 pm
(April 22): U.S. stocks slipped in choppy trading on Wednesday with traders focusing on earnings, as declines including in Boeing and Chipotle outweighed gains in McDonald's and Coca-Cola. Boeing fell 1.7 percent to $150.77 after reporting ... ...

European airlines compete to release apps for first Apple Watch
April 22, 2015 10:47:38 pm
FRANKFURT/TOULOUSE/LONDON (April 22): European airlines British Airways and Air France will be among the first companies competing with applications for the Apple Watch when the device is released this week. British Airways passengers will ... ...

U.S. existing home sales hit 18-month high; prices rise
April 22, 2015 10:45:23 pm
WASHINGTON (April 22): U.S. home resales surged to their highest level in 18 months in March as inventories improved, a sign of strength in the housing market ahead of the spring selling season. The National Association of Realtors said on ... ...

Peugeot, IBM working to connect cars to shops and servicing
April 22, 2015 10:39:04 pm
FRANKFURT (April 22): PSA Peugeot Citroen and IBM are working together to hook cars up to the Internet, going beyond mapping and infotainment to link vehicles up to shops, service networks and urban transport grids, the companies said on Wednesday......

McDonald's to develop new turnaround plan as sales fall again
April 22, 2015 10:29:29 pm
BENGALURU/LOS ANGELES (April 22): McDonald's Corp is developing a new turnaround plan to improve sales and profits as the company struggles to regain its footing in the highly competitive fast-food market. Shares of the world's biggest rest... ...

India's richest state needs over $200 bln to house its poorest
April 22, 2015 10:26:34 pm
MUMBAI (April 22): Maharashtra, India's wealthiest and most urbanised state, needs more than $200 billion in fresh investment by 2022 if it is to solve a chronic shortage of affordable housing in its fast-growing cities, a report by consultants KP......

Coke reports revenue growth for first time in nine quarters
April 22, 2015 10:21:31 pm
NEW YORK/BENGALURU (April 22): Coca-Cola Co on Wednesday reported a rise in revenue for the first time in nine quarters, helped by a 6 percent increase in North America, its biggest market. The first-quarter revenue gain, along with a bette... ...

Police record statement from IGP’s brother over church protest
April 22, 2015 10:19:36 pm
(April 22): Police today recorded a statement from Datuk Abdullah Abu Bakar, the elder brother of Inspector-General of Police (IGP) Tan Sri Khalid Abu Bakar, over Sunday's protest by residents outside a shoplot church in Taman Medan. He spe... ...

Top rubber producers join forces in plan to boost prices
April 22, 2015 10:15:53 pm
SINGAPORE/JAKARTA (April 22): Sri Trang Agro-Industry and other leading rubber producers in Asia plan to raise prices sharply, ditching a system of pegging them near the benchmark set by the SICOM exchange in Singapore. Producers and indust... ...

Japan PM Abe meets China's Xi, says to work for better ties
April 22, 2015 10:10:35 pm
TOKYO/JAKARTA/BEIJING (April 22): Japanese Prime Minister Shinzo Abe held talks with Chinese President Xi Jinping on the sidelines of a summit in Indonesia on Wednesday, the latest sign of a thaw between the Asian rivals that came despite an awkwa......

Oil prices edge up as Yemen concern lingers
April 22, 2015 10:06:29 pm
LONDON/SINGAPORE (April 22): Oil prices rose on Wednesday as the Yemen conflict remained a concern, despite concerns of a global supply glut after industry data showed a build in U.S. crude inventories for the 15th straight week. Brent crud... ...

Global growth outlook steady despite oil fall, stimulus burst
April 22, 2015 10:06:16 pm
LONDON/BENGALURU/BERLIN/PARIS/MILAN/JOHANNESBURG/TORONTO/NEW YORK (April 22): A collapse in oil prices that gave a windfall to the world's energy consumers and a flurry of policy easing from central banks might have been expected to brighten the o......

Greek cash seen lasting into June, no EU deal imminent
April 22, 2015 09:54:32 pm
ATHENS/BRUSSELS/FRANKFUR/VIENNA (April 22): Greece can scrape together enough cash to meet its payment obligations until June, euro zone and Greek officials said on Wednesday, playing down fears of an imminent default as hopes receded of a deal wi......

Top trading houses at commodities conference
April 22, 2015 09:53:14 pm
LAUSANNE, Switzerland (April 22): Top executives from the world's largest trading houses discuss trends in commodities trading at the FT Commodities Global Summit in Lausanne, Switzerland, this week. The following are Wednesday's highlights... ...

Boeing falls as 787 Dreamliner expense saps optimism on profit
April 22, 2015 09:42:54 pm
CHICAGO (April 22): Boeing Co. fell in early trading after posting an increase in expenses for the 787 Dreamliner, the plane known for its carbon-composite fuselage, tardy commercial debut and persistent drain on cash. The jet’s deferred pr... ...

What have we done to deserve this, Ambiga asks Putrajaya
April 22, 2015 09:39:35 pm
(April 22): What have Malaysians done to deserve the stifling of their various freedoms, activist and lawyer Datuk Ambiga Sreenevasan asked Putrajaya today. She said that Malaysians on the whole were a peace-loving lot and did not deserve t... ...

‘Many’ human remains found at MH17 crash site, say Dutch investigators
April 22, 2015 09:39:08 pm
(April 22): Dutch investigators have recovered "many" more body parts and pieces of wreckage after resuming their search at the Malaysia Airlines flight MH17 plane crash site in Ukraine, the Netherlands said today. All 298 passengers and cr... ...

Oil prices steady around $62 a barrel, supported by weak dollar
April 22, 2015 09:21:10 pm
LONDON/SINGAPORE (April 22): Oil prices steadied around $62 a barrel on Wednesday, drawing support from a weakened dollar despite concerns of a global supply glut after industry data showed a build in U.S. crude inventories for the 15th straight w......

European stocks rally fizzles out on earnings
April 22, 2015 09:14:22 pm
LONDON (April 22): European stocks fell on Wednesday, with a series of weak company earnings reports reversing a rally seen earlier in the week and halting the positive momentum overnight that lifted some of Asia's biggest markets to multi-year hi......

Gold steadies on weak dollar, shares; investors watch Greece
April 22, 2015 09:06:06 pm
LONDON/SINGAPORE (April 22): Gold steadied around $1,200 an ounce on Wednesday, as the dollar and European shares eased, while the absence of major developments in the Greek crisis left investors cautious. Spot gold was down 0.1 percent at ... ...

Ranhill enters supplementary agreement as part of Symphony RTO
April 22, 2015 08:59:58 pm
KUALA LUMPUR (April 22): Ranhill Holdings Sdn Bhd and Ranhill Group Sdn Bhd (RGSB) has entered into a supplemental agreement for the Ranhill WorleyParsons Sdn Bhd (RWorley) call option agreement, in a move to bring the latter’s oil and gas enginee......

686 Malaysians arrive home safely from Yemen
April 22, 2015 08:49:02 pm
KUALA LUMPUR (April 22): 686 Malaysians have arrived home safely from Yemen, following a number of evacuation efforts conducted by the Ministry of Foreign Affairs in collaboration with the National Security Council (MKN), Ministry of Defence and a......

Euro steadies, Aussie up after core inflation
April 22, 2015 08:44:04 pm
LONDON (April 22): The euro recovered some ground against the dollar on Wednesday in the absence of major news on Greece, while the Australian dollar rose after inflation data suggested an interest rate cut was not imminent. In a subdued se... ...

Futures fall with eyes on earnings, dollar
April 22, 2015 08:33:11 pm
(April 22): U.S. stock index futures fell on Wednesday, with investors wary of the effect of a strong U.S. dollar on earnings and ahead of housing sector data. Chipotle shares fell 5.3 percent to $656 in premarket trading after the burrito ... ...

MACC remands Icon Offshore CEO, COO to assist in investigations
April 22, 2015 07:45:08 pm
MACC remands Icon Offshore CEO, COO to assist in investigations ...

Nexgram banks on Godynamic's foray into Indonesian mobile security market
April 22, 2015 07:44:08 pm
KUALA LUMPUR (April 22): Nexgram Holdings Bhd is looking to bank on Godynamic Investments Ltd’s foray into the Indonesian mobile security industry. Nexgram unit, Nextnation Network Sdn Bhd, had proposed on Monday (April 20) to acquire an 18... ...

Ditch Petronas contracts offer, stick to 20% oil royalty demand, DAP rep tells Sarawak
April 22, 2015 07:39:32 pm
(April 22): Sarawak DAP chairman Chong Chieng Jen has asked the state government to ditch the proposal to have Petronas allocate RM2.1 billion worth of contracts to Sarawakian-owned companies and stick to the demand for 20% of the oil and gas roya......

Coastal Contracts secures rig sale worth RM807 mil
April 22, 2015 07:33:49 pm
KUALA LUMPUR (April 22): Ship builder Coastal Contracts Bhd has secured a sale order for one unit of Jack-up Drilling Rig (JUDR) to a ‘reputable’ oil company, for RM807 million. Coastal Contracts (fundamental: 2.6; valuation: 1.8) told Burs... ...

TMC Life Sciences 3Q net profit jumps 66%
April 22, 2015 07:25:07 pm
KUALA LUMPUR (Apr 22): TMC Life Sciences Bhd has posted a 66.7% jump in net profit for the third quarter ended Feb 28, 2015 at RM2.9 million, from RM1.7 million a year before on higher revenue and interest income. Revenue for the quarter wa... ...

Burger giant McDonald's to end deforestation in supply chain - TRFN
April 22, 2015 07:23:33 pm
BARCELONA (Apr 22): Global fast food giant McDonald's Corp has pledged to end deforestation caused by production of commodities in its supply chain, focusing on beef, coffee, palm oil, poultry and packaging. A U.S.-based scientific advocacy... ...

Petdag's unit signs RM51m lubricants supply contract
April 22, 2015 07:19:17 pm
KUALA LUMPUR (April 22): Petronas Dagangan Bhd’s (Petdag) wholly-owned subsidiary Lub Dagangan Sdn Bhd (LDSB) has signed a contract with Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) for the supply of lubricants worth RM51 million. In a statement... ...

Fed rate riot pending if history to investor tantrums is a guide
April 22, 2015 07:17:04 pm
(Apr 22): No amount of reassuring rhetoric by Janet Yellen and her colleagues at the Federal Reserve can prevent markets’ over-reaction when benchmark interest rates start heading higher. That’s the conclusion of Deutsche Bank AG economists... ...

Most down on financials; Thai underperforms
April 22, 2015 07:15:00 pm
(Apr 22): Most Southeast Asian stock markets ended lower on Wednesday, dragged down by financials as optimism about China's easy monetary policy evaporated, with Thailand hitting its lowest in nearly two weeks on poor earnings results from banks....

Oil prices dip below $62 on U.S. stock build
April 22, 2015 07:02:13 pm
LONDON (Apr 22): Oil prices dipped under $62 a barrel on Wednesday after industry data showed a build in U.S. crude inventories for the 15th straight week, adding to concerns of a global supply glut. The American Petroleum Institute (API) s... ...

Coastal Contracts secure rig sale worth RM807 million
April 22, 2015 07:01:03 pm
Coastal Contracts secure rig sale worth RM807 million ...

Eco World seeks three-month extension to complete corporate exercise
April 22, 2015 07:00:26 pm
KUALA LUMPUR (Apr 22): Eco World Development Group Bhd (Eco World) is seeking a three-month extension to complete the last part of its major corporate exercise. In a filing with Bursa Malaysia today, Eco World (fundamental: 0.5, valuation: ... ...

OSK Ventures ceases to be Handal substantial shareholder
April 22, 2015 06:57:48 pm
KUALA LUMPUR (Apr 22): OSK Ventures International Bhd has pared its shareholdings in Handal Resources Bhd, ceasing to be a substantial shareholder in the offshore crane service provider.   Bursa Malaysia filings showed that OSK Ventures sol... ...

MRCB exits from management-company of Nu Sentral for RM119.78m
April 22, 2015 06:44:22 pm
KUALA LUMPUR (Apr 22): Malaysian Resources Corp Bhd (MRCB) is disposing its entire 51% stake in Nu Sentral Sdn Bhd (NSSB) to its joint-venture (JV) partner Pelaburan Hartanah Bhd (PHB) for RM119.78 million cash. NSSB, currently a 51:49 join... ...

Palm ends 3-day winning streak as ringgit rebounds
April 22, 2015 06:40:43 pm
KUALA LUMPUR (Apr 22): Malaysian palm oil futures fell on Wednesday, ending a three-day winning streak, as the ringgit rose and technical charts took a bearish turn, although traders expect prices to stay in a 2,100-2,200 ringgit range in the near......

Cocoa bean demand seen lower in Asia extending global slide
April 22, 2015 06:30:00 pm
(Apr 22): Cocoa processing in Asia probably fell 12 percent in the first quarter after a surge in prices of butter extracted from the beans hurt demand from confectioners and chocolate makers. Grinding declined to 139,750 metric tons from 1... ...

Malaysia's c.bank reserves at $105.6 bln on April 15
April 22, 2015 06:23:34 pm
KUALA LUMPUR (Apr 22): Malaysia's central bank releases international reserves data: Reserves (bln ... ...

Gold steadies on weak dollar, shares; investors watch Greece
April 22, 2015 06:15:18 pm
LONDON (Apr 22): Gold steadied around $1,200 an ounce on Wednesday, as the dollar and European shares eased, while the absence of major developments in the Greek crisis left investors cautious. Spot gold was unchanged at $1,202.60 an ounce ... ...

Mercedes-Benz 1Q15 vehicle sales in Malaysia up 13%
April 22, 2015 06:13:52 pm
BANGSAR (Apr 22): Premium German automaker Mercedes-Benz Malaysia Sdn Bhd announced that it has sold 1,886 vehicles in the first quarter of this year (1Q15), up 13% from 1,676 vehicles in the same period last year. Mercedes-Benz Malaysia pr... ...

MRCB sells 51% stake of Nu Sentral to Pelaburan Hartanah for RM119.8m
April 22, 2015 06:07:08 pm
MRCB sells 51% stake of Nu Sentral to Pelaburan Hartanah for RM119.8m ...

Econpile bags RM29.4m piling contract
April 22, 2015 05:54:36 pm
KUALA LUMPUR (Apr 22): Econpile Holdings Bhd has bagged a piling and related works contract from TWY Development Sdn Bhd for the latter’s TWY @ Mont Kiara duplex condominiums, valued at RM29.4 million. In a statement today, the piling and f... ...

KLCI falls on profit taking, ringgit strengthens
April 22, 2015 05:39:34 pm
KUALA LUMPUR (Apr 22): The FBM KLCI fell on profit taking following substantial gains yesterday as China's move to cut its bank reserve requirement supported market sentiment. Today, the KLCI fell 8.03 points or 0.4% to 1,854.77 at t... ...

Rafizi bid to challenge repealed banking law a delay tactic, says NFC boss
April 22, 2015 05:38:20 pm
(April 22): The National Feedlot Corporation (NFC) said Rafizi Ramli’s bid to challenge the constitutionality of the repealed Banking and Financial Institutions Act (Bafia) is a delay tactic by the PKR secretary-general to avoid facing trial for a......

Another Umno lawmaker says Najib must answer Dr Mahathir
April 22, 2015 05:33:08 pm
(April 21): Datuk Seri Najib Razak must immediately answer allegations raised by Tun Dr Mahathir Mohamad, another Umno lawmaker said today, noting that the failure of the prime minister to do so would be detrimental to the party. Pul... ...

China defends vessels' actions against Philippines in South China Sea
April 22, 2015 05:29:00 pm
BEIJING (Apr 22): China on Wednesday defended the actions of its vessels in the disputed South China Sea after the Philippines accused China's coast guard of using water cannon on Philippine fishing boats and urged Manila to increase its "educatio......

Oil prices dip below $62 on U.S. stock build
April 22, 2015 05:24:43 pm
LONDON (Apr 22): Oil prices dipped under $62 a barrel on Wednesday after industry group data showed a higher-than-expected build of 5.5 million barrels in U.S. inventories of crude oil. Brent for June delivery was down 31 cents at $61.77 a ... ...

Top rubber producers join forces, plan to boost prices
April 22, 2015 05:24:33 pm
SINGAPORE (Apr 22): Big Asian rubber producers, including world No. 1 Sri Trang Agro-Industry Plc, plan to hike prices sharply, ditching a system of pegging them near the benchmark set by the SICOM exchange in Singapore. Producers and indus... ...

Putrajaya cancels Perlis hospital project citing ‘economic situation’
April 22, 2015 05:24:21 pm
(April 21): Putrajaya will not go ahead with the Padang Besar Hospital project in Perlis citing economic situation, said Perlis Health and Rural Development Committee chairman, Jafperi Othman. Speaking to Bernama, he said the Econo... ...

Earnings, Greece weigh on European stocks
April 22, 2015 05:16:35 pm
LONDON (Apr 22): European stocks fell on Wednesday, failing to extend an overnight rally in Asia as investors looked to Greece's debt crisis and lurch towards possible default as an excuse to cash in gains chalked up earlier in the week. Eu... ...

TOCOM gains; rubber producers to hike prices
April 22, 2015 05:08:50 pm
TOKYO (Apr 22): Benchmark Tokyo rubber futures extended gains on Wednesday after big Asian rubber producers planned to hike prices sharply, ditching a system of pegging them near the benchmark set by Singapore's SICOM exchange. The producer... ...

Putrajaya says 10% service charge to stay
April 22, 2015 04:55:46 pm
(April 21): Putrajaya announced today that businesses such as hotels and restaurants, can continue to collect the 10% service charge from consumers, ending confusion as to whether the fee was still allowed after the implementation of goods ... ...

European shares depressed by earnings, luxury proves a drag
April 22, 2015 04:47:21 pm
LONDON (Apr 22): Company earnings depressed Europe's regional stock indexes on Wednesday, with the luxury sector dragging on the market. Luxury groups Richemont and Kering were among the worst performers after Richemont warned its net profi... ...

Japan's ANA to take stake in Skymark, widens lead over JAL
April 22, 2015 04:43:36 pm
TOKYO (Apr 22): ANA Holdings Inc has agreed to acquire a stake of up to 19.9 percent in bankrupt budget carrier Skymark Airlines Inc, gaining access to highly coveted landing slots and strengthening its lead over rival Japan Airlines Co. Un... ...

Tesco suffers record annual loss of 6.4 billion pounds
April 22, 2015 04:35:57 pm
LONDON (Apr 22): Tesco plunged to an annual loss of 6.4 billion pounds ($9.5 billion) on Wednesday, the worst in its 96-year history, after shoppers deserted Britain's biggest retailer and forced it to write down the value of its stores. Hu... ...

Taiwan says Singapore bourse equity-trade link to start July
April 22, 2015 04:28:46 pm
(Apr 22): Taiwan will open a cross-border stock trading platform with Singapore on July 1, a regulator said. Taiwan is seeking to draw more global investors into its equity market, Financial Supervisory Commission Minister Tseng Ming-chung ... ...

ECB to fund Greek banks as long as they stay solvent - Coeure
April 22, 2015 04:24:00 pm
ATHENS (Apr 22): The European Central Bank will continue to fund Greek banks as long as they stay solvent and have enough collateral, Executive Board Member Benoit Coeure told a newspaper on Wednesday, dismissing talk that Athens might ditch the e......

54 more anti-GST protesters to be charged tomorrow, says PSM
April 22, 2015 04:23:21 pm
(April 21): Fifty-four people who were initially let off after participating in a protest against the goods and services tax (GST) at the Customs office last month are expected to be charged tomorrow. Parti Sosialis Malaysia (PSM) se... ...

China to open bank card clearing market to foreign firms from June
April 22, 2015 04:22:19 pm
BEIJING (Apr 22): China has announced it will open up its market for clearing domestic bank card transactions, a move that should allow foreign players such as Visa Inc and MasterCard Inc direct access to a market valued at $6.84 trillion last yea......

Oil prices drop as Middle East tension eases
April 22, 2015 04:10:20 pm
SINGAPORE (Apr 22): Oil prices extended declines from the previous session on Wednesday as tensions in the Middle East eased after Saudi Arabia ended an air strike campaign in Yemen, but industry leaders said the market could rebound as attention ......

Sony raises profit view as higher sensors, videogame sales herald turnaround
April 22, 2015 04:03:42 pm
TOKYO (Apr 22): Japanese consumer electronics firm Sony Corp on Wednesday raised its earnings estimates for the second time in three months, citing higher-than-expected sales of camera sensors and videogames. Sony said it probably ma... ...

Euro steadies, Aussie up after core inflation
April 22, 2015 03:58:04 pm
LONDON (Apr 22): The euro recovered some ground against the dollar on Wednesday in the absence of major developments over Greece, while the Australian dollar rose after inflation data suggested an interest rate cut was not imminent. The thr... ...

LG Display Q1 profit at 4-year high, buoyed by sales at client Apple
April 22, 2015 03:58:04 pm
SEOUL (Apr 22): South Korea's LG Display Co Ltd on Wednesday said January-March profit hit the highest in more than four years, buoyed by brisk sales of new smartphones by client Apple Inc and healthy television panel demand. LG Display pre... ...

Gold back above $1,200 as dollar slips
April 22, 2015 03:56:24 pm
SINGAPORE (Apr 22): Gold reversed earlier losses to trade above $1,200 on Wednesday as the U.S. dollar weakened, with investors also keeping an eye on the Greek debt crisis and its impact on the currency markets. Spot gold was little change... ...

BIMB's unit issues first tranche of RM300m sukuk murabahah programme
April 22, 2015 03:33:14 pm
KUALA LUMPUR (April 22): BIMB Holdings Bhd said its wholly-owned subsidiary Bank Islam Malaysia Bhd has issued the first tranche of its subordinated sukuk murabahah programme amounting to RM300 million, with tenure of 10 years. To recap, BI... ...

George Kent rises 3.9% on better FY16 prospects from LRT, metering segment
April 22, 2015 03:17:29 pm
KUALA LUMPUR (April 22): Infrastructure engineering firm George Kent (M) Bhd rose as much as 3.9% today, possibly on expectation it will perform better in the current financial year ending Jan 31, 2016 (FY15). Yesterday, George Kent executi... ...

Frontken up as much as 9%, sees continued interest from Apple chip demand
April 22, 2015 03:09:38 pm
KUALA LUMPUR (April 22): Frontken Corp Bhd rose as much as 9% during the morning trade today, possibly on continued positive investor interest after news that Apple Inc had awarded nearly a third of its A9 chip orders to Taiwan Semiconducting Manu......

Bursa's 1Q profit higher on derivative growth
April 22, 2015 03:00:59 pm
KUALA LUMPUR (April 22): Bursa Malaysia Bhd's net profit climbed 4% to RM47.06 million in the first quarter ended March 31, 2015 (1QFY15), from RM45.15 million a year earlier. Profit growth came mainly on higher income from derivative trade... ...

LG Display Q1 profit at 5-year high, buoyed by sales at client Apple
April 22, 2015 02:48:44 pm
SEOUL (Apr 22): South Korea's LG Display Co Ltd on Wednesday said January-March profit hit the highest in at least five years, buoyed by brisk sales of new smartphones by client Apple Inc and healthy television panel demand. LG Display prev... ...

MNRB gets BNM’s nod to start retakaful business
April 22, 2015 02:48:16 pm
KUALA LUMPUR (April 22): Malaysian reinsurance player MNRB Holdings Bhd has received Bank Negara Malaysia's (BNM) nod to set up a general and family Islamic reinsurance or retakaful business. In a filing with Bursa Malaysia this afternoon, ... ...

Search underway for new Ambank Group MD, priority to locals
April 22, 2015 02:37:58 pm
KUALA LUMPUR (Apr 22): Priority will be given to local candidates to lead AMMB Holdings Bhd (AmBank Group) as it continues to search for a new managing director following Ashok Ramamurthy's departure, said the group's founder and chairman T... ...

Sony raises full-year profit view on strength in sensors, videogames
April 22, 2015 02:31:27 pm
TOKYO (Apr 22): Japanese consumer electronics maker Sony Corp on Wednesday raised its earnings estimates for the fiscal year that ended in March, citing higher-than-expected sales of camera sensors and videogames. Sony, which has posted hea... ...

Maybank Investment Bank: Private investment to slow in 2015
April 22, 2015 02:28:25 pm
KUALA LUMPUR (Apr 22): The pace of private investment in Malaysia is set to slow this year, with declines in the property and oil and gas (O&G) sectors, Maybank Investment Bank Bhd said today. Its chief economist Suhaimi Ilias sa... ...

CIMB Niaga 1Q net profit lower at Rp83b
April 22, 2015 02:17:49 pm
KUALA LUMPUR (Apr 22): CIMB Group Holdings Bhd's 97.94%-owned Indonesian unit PT Bank CIMB Niaga Tbk saw its net profit fell to Rp82.72 billion in the first quarter ended March 31, 2015 (1QFY15) from Rp1.1 trillion a year earlier. In... ...

ECB to fund Greek banks as long as they stay solvent - Coeure
April 22, 2015 02:10:24 pm
ATHENS (Apr 22): The European Central Bank will continue to provide liquidity to Greece's banks as long as they remain solvent and have sufficient collateral, ECB Executive Board Member Benoit Coeure told Greek newspaper Kathimerini on Wednesday i......

Mostly down on financials; Philippines down for fourth day
April 22, 2015 02:01:22 pm
(Apr 22): Most Southeast Asian stock markets edged down on Wednesday, dragged by financials as optimism over China's rate cut evaporated, with Manila shares falling for a fourth straight session to a more-than-one-month low. The Philippine ... ...

Ringgit gains as inflation ticks up, Asia currencies rise
April 22, 2015 01:56:54 pm
SINGAPORE (Apr 22): Emerging Asian currencies rose on Wednesday as the dollar retreated slightly, while Malaysia's ringgit extended gains  after March inflation data cooled any lingering expectations of a rate cut there. The Indonesi... ...

China to open bank card clearing businesses to foreign firms
April 22, 2015 01:54:55 pm
BEIJING (Apr 22): China will allow foreign firms to apply for licenses to establish bank card clearing businesses starting from June 1, the State Council said in a statement on its website on Wednesday. China said in October last year that ... ...

Halex proposes rights issue, enlarged share capital
April 22, 2015 01:54:14 pm
KUALA LUMPUR (Apr 22): Halex Holdings Bhd has proposed a renounceable rights issue of new ordinary shares of 50 sen each with free detachable warrants to raise gross proceeds of up to RM40 million, according to a Bursa Malaysia filing this afterno......

Asia shares rise as China market rallies, oil sags
April 22, 2015 01:53:32 pm
TOKYO (Apr 22): Asian equities were mostly firmer on Wednesday with stimulus-fueled Chinese shares taking the lead, while oil sagged after Saudi Arabia ended its military campaign in Yemen, easing tensions in the energy-rich Middle East. Sp... ...

U.S. could use vaccines being developed to fight bird flu in poultry
April 22, 2015 01:46:33 pm
CHICAGO (Apr 22): Faced with a deadly bird flu outbreak that has infected millions of chickens and turkeys, the U.S. Agriculture Department could turn to what it has always seen as a last resort: readying and deploying a vaccine to fight the disea......

Suspended shuttler Lee nominated for Malaysian award
April 22, 2015 01:43:05 pm
KUALA LUMPUR (Apr 22): Former badminton world number one Lee Chong Wei has been nominated for Malaysia's 2014 sportsman of the year award despite being provisionally suspended for a doping offence. The twice Olympic silver medallist is awai... ...

Palm ends 3-day winning streak as ringgit rebounds
April 22, 2015 01:41:26 pm
KUALA LUMPUR (Apr 22): Malaysian palm oil futures fell on Wednesday, ending a three-day winning streak, as the ringgit rose and technical charts took a bearish turn, although traders expect prices to stay in a 2,100-2,200 ringgit range in the near......

Hong Leong Industries up 4% on dividend, higher profit
April 22, 2015 01:25:31 pm
KUALA LUMPUR (Apr 22):  Hong Leong Industries Bhd rose as much as 18 sen or 3.75% following its announcement of a 17 sen per share dividend, which came along with the diversified group's improved earnings. Hong Leong Industries (fund... ...

Maybank Islamic's Mudarabah Investment Account ensures estimated returns of up to 50%
April 22, 2015 01:18:23 pm
KUALA LUMPUR (Apr 22): Maybank Islamic Bhd's latest bank offering, the Mudarabah (profit sharing) Investment Account (IA), will enable deposit accounts to earn between 20% and 50% returns based on its investment in diversified portfolio of ... ...

Advance Synergy, Eden, Vsolar, Asia Poly, Frontken, TFP, Mpay, Tanco, RView, FCW, OCB, Metrod, Khee San, D’nonce, Acoustech
April 22, 2015 01:16:10 pm
KUALA LUMPUR (April 22): theedgemarkets.com has highlighted 15 stocks with momentum at afternoon market close today. Two of the stocks show positive momentum while 13 show negative momentum. Stocks with positive momentum are: Advance... ...

NCB jumps 7.45% on stronger profit forecast in 1QFY15
April 22, 2015 01:06:25 pm
KUALA LUMPUR (Apr 20): Shares in NCB Holdings Bhd — the operator of Northport in Klang — advanced as much as 7.45% in the intra-morning trade to RM2.74 from its opening of RM2.55, after Maybank IB Research forecast that it will post a stronger net......

KLCI dips as investors take a breather
April 22, 2015 01:02:19 pm
KUALA LUMPUR (Apr 22): The FBM KLCI dipped at the midday break today with investors seemingly taking a breather after the rally yesterday. At 12.30pm, the FBM KLCI fell 4.07 points to 1,858.73. Losers overtook gainers by 464 t... ...

Oil prices drop as Middle East tension ease
April 22, 2015 01:00:50 pm
SINGAPORE (Apr 22): Oil prices extended declines from the previous session on Wednesday as Middle East tension eased after Saudi Arabia ended an air strike campaign in Yemen, but industry leaders said the market could rebound as attention turned t......

Malaysia’s March inflation at 0.9% on year, in line with forecast
April 22, 2015 12:50:07 pm
KUALA LUMPUR (Apr 22): Malaysia's inflation, measured by the consumer price index (CPI), increased 0.9% in March 2015 from a year earlier. The CPI had risen amid costlier alcoholic beverage and tobacco products besides health services. ... ...

PIKOM lauds cheaper broadband rates
April 22, 2015 12:48:00 pm
KUALA LUMPUR (Apr 22): The National ICT Association of Malaysia (PIKOM) has welcomed the government’s decision to reduce fixed broadband rates between 10% and 57% as announced on April 15 and said the move would have a catalytic effect on eCommerc......

MARC downgrades IJM Corp RM1b bonds
April 22, 2015 12:37:34 pm
KUALA LUMPUR (Apr 22): Malaysian Rating Corp Bhd (MARC) downgraded its outlook on IJM Corp Bhd’s RM1 billion commercial paper/medium-term notes programme to negative from stable. In a statement today, MARC said prospects of IJM Corp ... ...

MIER: Malaysia GDP growth expected to reach 5%
April 22, 2015 12:28:23 pm
KUALA LUMPUR (Apr 22): The Malaysian Institute of Economic Research (MIER) expects Malaysia's gross domestic product (GDP) to reach a "respectable" rate of 5% in 2015 buoyed by recovery in the global economy. MIER's executive director Dr Za... ...

Insider Asia’s Stock Of The Day: Panasonic Manufacturing Msia
April 22, 2015 12:28:05 pm
Panasonic Manufacturing Msia Bhd Though hardly regarded as an exciting stock, Panamy (Fundamental: 2.8/3, Valuation: 1.7/3) has, nevertheless, performed very well. Since our first feature, on Dec 5, 2014, its ... ...

Stocks With Momentum: Hovid
April 22, 2015 12:23:30 pm
Hovid Bhd (-ve) Hovid (Fundamental: 2.1/3, Valuation: 0.5/3), which manufactures over 400 generic drugs, is likely seen as a proxy for the resilient healthcare industry. Yesterday, the stock hit a fresh one-year high of 55.5... ...

SALCON
April 22, 2015 12:22:37 pm
SALCON BHD (+ve) Engineering company, Salcon (Fundamental: 1.75/3, Valuation: 1.2/3) is mainly involved in water and wastewater industry, with two main divisions — construction and concession. During 2013, Salcon dis... ...

Stocks With Momentum: Century Bond
April 22, 2015 12:19:40 pm
Century Bond Bhd (-ve) Share prices for Cenbond (Fundamental: 2.05/3, Valuation: 1.4/3) has risen 27%, so far this month, on heavy volume. Other than earnings results, the only notable new development was the setting ... ...

Euro pressured, Aussie up as inflation data cools rate cut talk
April 22, 2015 12:12:48 pm
SYDNEY (Apr 22): The euro edged lower on Wednesday, pressured by continued uncertainty over Greece's debt negotiations, while the Australian dollar rose after inflation data suggested an interest rate cut was not imminent. The euro drifted ... ...

Gold slips as dollar firms; Greek debt crisis eyed
April 22, 2015 12:08:22 pm
SINGAPORE (Apr 22): Gold gave up some of its overnight gains on Wednesday as the U.S. dollar firmed after earlier losses, with investors keeping their attention focused on the Greek debt crisis and its impact on the currency markets. Spot g... ...

Top rubber producers join forces, plan to boost prices
April 22, 2015 12:04:49 pm
SINGAPORE (Apr 22): Big Asian rubber producers, including world No. 1 Sri Trang Agro-Industry Plc, said they plan to hike prices sharply, ditching a system of pegging them near the benchmark set by the Singapore SICOM exchange. The producer... ...

Malaysia's March inflation at 0.9% yoy
April 22, 2015 11:59:38 am
Malaysia's March inflation at 0.9% yoy ...

Palm oil to rebound to 2,171 ringgit before falling
April 22, 2015 11:57:43 am
SINGAPORE (Apr 22): Palm oil may rebound moderately to 2,171 ringgit per tonne before retesting a support at 2,152 ringgit, as indicated by a rising wedge and a Fibonacci retracement analysis. The pattern could be divided into five waves, i... ...

Liverpool FC renew sponsorship deal with Standard Chartered
April 22, 2015 11:39:22 am
LONDON (Apr 21): English soccer club Liverpool FC has renewed its sponsorship deal with Asia-focused bank Standard Chartered Bank for another three years, they said on Tuesday. London-based Standard Chartered has been Liverpool's main shirt... ...

Cocoa bean demand seen lower in Asia extending global slide
April 22, 2015 11:36:00 am
(Apr 22): Cocoa processing in Asia probably fell 12 percent in the first quarter after a surge in prices of butter extracted from the beans hurt demand from confectioners and chocolate makers. Grinding declined to 139,750 metric tons from 1... ...

Malaysia orders probe after protest forces church to take down cross
April 22, 2015 11:23:55 am
KUALA LUMPUR (Apr 22): Malaysia has ordered an investigation into a protest by Muslim demonstrators who forced a small church in the capital to take down its cross, the latest sign of growing religious tension in the multiracial Southeast A... ...

Public Bank bucks industry trends with ROE of 17.1%
April 22, 2015 11:08:48 am
Public Bank Bhd (April 21, RM19.68) Maintain buy with an unchanged target price (TP) of RM21.80: Public Bank’s first quarter of financial year ending Dec 31, 2015 (1QFY15) net profit of RM1.1 billion, up 15% year-on-ye... ...

Top rubber producers plan to sharply hike prices, stop SICOM delivery
April 22, 2015 11:05:18 am
SINGAPORE (Apr 22): Big Asian rubber producers, including world No. 1 Sri Trang Agro-Industry Plc, are set to hike prices sharply, ditching a system of pegging prices near a benchmark set by the Singapore SICOM exchange. The producers plan ... ...

Cocoa bean demand seen lower in Asia extending global decline
April 22, 2015 11:03:49 am
(Apr 22): Cocoa processing in Asia probably fell 12 percent in the first quarter after a surge in prices of butter extracted from the beans hurt demand from confectioners and chocolate makers. Grinding declined to 139,750 metric tons from 1... ...

Singapore March industrial output seen falling from year ago
April 22, 2015 11:02:20 am
SINGAPORE (Apr 22): Singapore's annual industrial production is expected to have declined in March, a Reuters poll showed, though output is seen rising month-on-month with some optimism that signs of improving exports will underpin a struggling ma......

Axis REIT FY15’s 4.7% dividend yield ‘decent’
April 22, 2015 11:01:30 am
Axis Real Estate Investment Trust (REIT) (April 21, RM3.60) Maintain neutral with an unchanged target price (TP) of RM3.50: Axis REIT’s first quarter of financial year 2015 (1QFY15) core net income of RM22.8 million wa... ...

IOI Properties slims down its structure
April 22, 2015 11:01:23 am
IOI Properties Group Bhd (April 21, RM2.19) Initiate buy with a target price (TP) of RM2.49: IOI Properties Group Bhd came back with a leaner structure comprising three core segments, which are: (i) property developmen... ...

Bike and car payments lead Aeon Credit’s loan growth
April 22, 2015 10:59:18 am
Aeon Credit Service (M) Bhd (April 21, RM14.60) Maintain hold with a higher target price (TP) of RM12.80: Aeon Credit Service’s (TP) financial year ended Feb 28, 2015 (FY15) net profit came in higher than our or consen... ...

All-time high in sight for FBM KLCI
April 22, 2015 10:57:25 am
Bursa Malaysia is catching up with the bullish market performances as the ringgit and crude oil prices, which weigh down the index, are starting to favour the local market. Crude oil continued to increase after a rebound last week and the ringgit ......

Vsolar gains 21% on solar farms job
April 22, 2015 10:56:32 am
KUALA LUMPUR (Apr 22): Vsolar Group Bhd's shares jumped as much as 21.13% in the morning trades today after the group announced its collaboration with a Japanese firm to develop a commercial solar farms. At 10.39am, the stock was traded at ... ...

Top Glove unit offers to acquire land
April 22, 2015 10:56:23 am
Top Glove Corp Bhd (April 21, RM5.45) Maintain hold with an unchanged target price (TP) of RM5.42: In a filing with Bursa Malaysia, Top Glove Corp Bhd has announced that its wholly-owned subsidiary, Top Glove Propertie... ...

Japan stocks at 15-yr peak, oil down as Saudi ends Yemen air campaign
April 22, 2015 10:55:49 am
TOKYO (Apr 22): Japanese shares rallied to a 15-year high on Wednesday on expectations of improved corporate earnings, while oil sagged after Saudi Arabia ended its military campaign in Yemen, easing tensions in the energy-rich Middle East. ...

ManagePay in active trade after UnionPay announcement
April 22, 2015 10:49:29 am
KUALA LUMPUR (Apr 22): Electronic payment service provider ManagePay Systems Bhd was among the top actives on the exchange this morning after it announced the registration of its unit, ManagePay Resources Sdn Bhd (MRSB), as China-based Unio... ...

Malaysia earmarks RM15b for green growth
April 22, 2015 10:44:17 am
KUALA LUMPUR: The federal government plans to pump in at least RM15 billion under the 11th Malaysia Plan (11MP) to create a green growth concept within Malaysia’s economic framework. Economic Planning Unit director-general Datuk Seri Rahama... ...

Fiabci’s congress to draw 1,200 participants
April 22, 2015 10:42:43 am
KUALA LUMPUR: The International Real Estate Federation (Fiabci) expects 1,200 participants to gather for the 66th World Real Estate Congress from May 26 to 31 at One World Hotel, Petaling Jaya. Themed “Urbanisation: Perils or Prosperity”, t... ...

GBH jumps 9.8% on dividend payout
April 22, 2015 10:42:42 am
KUALA LUMPUR (Apr 22): Shares in Goh Ban Huat Bhd advanced to a high of RM1.68 in the morning trades after the group declared a first interim single-tier dividend of 12% yesterday. According to Bursa Malaysia filings, Goh Ban Huat (fundamen... ...

Consumers' pessimism prevails as CSI plummets
April 22, 2015 10:41:15 am
KUALA LUMPUR (Apr 22): Malaysian consumers painted a gloomy picture of their expectations going forward with the consumer sentiment index (CSI) registering at the lowest level in six years at 72.6 points in the first quarter of 2015, said the Mala......

Matrix Concepts buys Puchong land, aims for over RM500m GDV
April 22, 2015 10:40:26 am
KUALA LUMPUR: Negeri Sembilan-based property developer Matrix Concepts Holdings Bhd has proposed to acquire a 5.8-acre (2.35ha) land cum approved residential development project in Puchong, Selangor, for RM95 million. The purchase from vend... ...

Cypark aims to maintain double-digit growth in FY15
April 22, 2015 10:40:08 am
KUALA LUMPUR: Environmental and infrastructure solutions provider Cypark Resources Bhd aims to maintain its double-digit earnings growth momentum for the financial year ending Oct 31, 2015 (FY15), driven by its current waste-to-energy (WTE) and re......

Firms should ramp up marketing activities during economic downturn
April 22, 2015 10:36:39 am
KUALA LUMPUR: Companies should spend more on marketing activities during times of economic pressure instead of regarding them as expenses to be trimmed, said MunchWorld Marketing Sdn Bhd vice-president for marketing Julie Chen at the 2015 Malaysia......

Less hiring in 2Q15
April 22, 2015 10:34:03 am
KUALA LUMPUR: Employers are expecting a downtrend in job growth for the second quarter of this year (2Q15), a JobStreet.com survey said, although job levels are still high with an average of over 20,000 job openings on the recruitment website.... ...

KLCI stays in the red as profit taking persists
April 22, 2015 10:28:07 am
KUALA LUMPUR (April 22): The FBM KLCI remained in the negative zone at mid-morning today as profit taking persisted on select blue chips. At 10.01am, the FBM KLCI was down 2.24 points to 1,860.56. The top losers included Allia... ...

CIMB Thai 1Q net profit drops to 130.6m baht
April 22, 2015 10:26:21 am
KUALA LUMPUR: CIMB Thai Bank pcl, a 93.71% indirect subsidiary of CIMB Group Holdings Bhd, saw a 70.4% drop in net profit to 130.6 million baht (RM14.71 million) for its first quarter ended March 31, 2015 (1QFY15), mainly due to a 117.6% year-on-y......

ManagePay is UnionPay third party service provider
April 22, 2015 10:25:23 am
KUALA LUMPUR: ManagePay Systems Bhd’s wholly-owned subsidiary, ManagePay Resources Sdn Bhd (MRSB), has received a letter of notification from UnionPay International Co Ltd, on the registration of MRSB as a UnionPay third party service provider....

Yee Lee takes over Red Bull distributorship from F&N
April 22, 2015 10:24:24 am
KUALA LUMPUR: Fast-moving consumer products distributor Yee Lee Corp Bhd is once again the distributor for the Red Bull energy drinks in Malaysia — and this time on an exclusive basis. It will be the sole distributor of the drinks here from Aug 1,......

George Kent expects FY16 to be better
April 22, 2015 10:21:26 am
KUALA LUMPUR: Infrastructure engineering firm George Kent (M) Bhd expects to perform better in its current financial year ending Jan 31, 2016 (FY16), driven by the RM1.1 billion Ampang light rail transit (LRT) extension works contract under... (funct...

Global equity market collapse possible if investors complacent
April 22, 2015 10:26:21 am
KUALA LUMPUR: The world’s stock markets could see a repeat of the crash in the 1930s if investors become too complacent and rely too much on central...

IJM Corp to buy land in Penang for RM402.8m
April 22, 2015 10:25:23 am
KUALA LUMPUR: IJM Corp Bhd has bought the remaining shares in its joint venture (JV), Aura Hebat Sdn Bhd (AHSB), from partner Perennial Penang Pte...

Oil prices drop as Middle East tension ease
April 22, 2015 10:24:24 am
SINGAPORE (Apr 22): Oil prices extended declines on Wednesday as Middle East tension eased after Saudi Arabia ended a military campaign in Yemen,...

Nufam president to take MAS to court over dismissal
April 22, 2015 10:21:26 am
KUALA LUMPUR: National Union of Flight Attendants Malaysia (Nufam) president Ismail Nasaruddin (pic) is challenging his sacking by Malaysian Airline...

Myanmar art enters new phase
April 22, 2015 10:26:21 am
KUALA LUMPUR: Myanmar’s art is entering a new phase with the opening up of the country to the outside world, Sultan of Perak Sultan Nazrin Muizzuddin...

Malaysians to pay more for electricity to bail out 1MDB, says DAP
April 22, 2015 10:25:23 am
KUALA LUMPUR (Apr 22): Malaysians will have to pay more for electricity to bail out troubled state firm 1Malaysia Development Berhad (1MDB), which...

How China stimulus could help Southeast Asian trade, currencies
April 22, 2015 10:24:24 am
SINGAPORE (Apr 22): China may be at odds with several Southeast Asian nations over territorial claims in the South China Sea, yet when it comes to...

SKP Resources rises 2.8% after PublicInvest Research starts coverage
April 22, 2015 10:21:26 am
KUALA LUMPUR (April 22): Shares of SKP Resources Bhd rose in early trade today after PublicInvest Research initiated coverage on the stock with an “...

Japan March export gains may get economy back on track
April 22, 2015 09:38:57 am
TOKYO (Apr 22): Japan posted its first trade surplus in nearly three years in March as exports of cars and electronics picked up, an encouraging sign that economic growth may be back on track after a sluggish start to the year. The 8.5 perc... ...

Profit taking halts KLCI’s uptrend
April 22, 2015 09:26:57 am
KUALA LUMPUR (April 22): The FBM KLCI retreated in early trade on some mild profit taking after it had rallied on Tuesday, and in line with the lacklustre overnight close at Wall Street. At 9.06am, the FBM KLCI shed 1.19 points to 1,861.61.... ...

Japan stocks hit 15-year high, oil down as Yemen bombing ends
April 22, 2015 09:22:19 am
TOKYO (April 22): Japanese shares hit a new 15-year high on Wednesday on expectations of positive corporate earnings, while oil sagged after Saudi Arabia ended its military campaign in Yemen, easing tensions in the energy-rich Middle East. ... ...

CIMB Research maintains Add on OWG, ups target to RM3.02
April 22, 2015 09:14:22 am
KUALA LUMPUR (April 22): CIMB Research has maintained its “Add” rating on Only World Group Holdings Bhd (OWG) at RM2.37 with a higher target price of RM3.02 (from RM2.62) and said that in a recent group meeting that we organised between fund manag......

PublicInvest Research starts coverage on SKP, target RM1.07
April 22, 2015 08:57:47 am
KUALA LUMPUR (April 22): PublicInvest Research has initiated coverage on SKP Resources Bhd with an “Outperform” rating and target price of RM1.07 and said the company was debt-free, had double-digit Return on Equity and Return on Asset, healthy ca......

AirAsia’s immediate hurdle at RM2.40, says AllianceDBS Research
April 22, 2015 08:43:13 am
KUALA LUMPUR (April 22): AirAsia Bhd crossed over the 20-day MA line on April 21 after spending 14 days below the same MA line, according to AllianceDBS Research. In its evening edition Tuesday, the research house said following the up clos... ...

Coastal in a position to trade higher, says AllianceDBS Research
April 22, 2015 08:27:59 am
KUALA LUMPUR (April 22): A crossover of the RM3.10 hurdle would likely see Coastal Contracts Bhd trading upward with the next upside target pegged between RM3.25 – RM3.30, according to AllianceDBS Research. In its evening edition Tuesday, t... ...

Petronas to see US$500m cost savings
April 22, 2015 08:27:00 am
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) is looking for cost savings of US$500 million (RM1.825 billion) with the commissioning of its maiden floating liquefied natural gas facility (PFLNG1) — the world’s first — that is slated for t... ...

N.American semicon equipment makers post March 2015 Book-to-Bill Ratio of 1.10
April 22, 2015 08:13:09 am
KUALA LUMPUR (April 22): North America-based manufacturers of semiconductor equipment posted US$1.37 billion in orders worldwide in March 2015 (three-month average basis) and a book-to-bill ratio of 1.10, according to the Semiconductor Equipment a......

Advancing KLCI could be halted by profit taking
April 22, 2015 07:20:41 am
KUALA LUMPUR (April 22): While the FBM KLCI is expected to trend higher today on the back of its strong performance on Tuesday, some profit taking could halt its progress in line with the lacklustre overnight showing at Wall Street. Major U... ...

Earnings cloud drags down Dow; Nasdaq gains on biotech M&A
April 22, 2015 07:13:58 am
(April 22): U.S. stocks were a mixed bag on Tuesday, with the Dow ending lower after a handful of uninspiring earnings reports while the Nasdaq closed near a record high following a proposed biotech merger. Travelers, DuPont and IBM shares ... ...

Wall St's two major indexes drop; oil falls
April 22, 2015 07:05:11 am
NEW YORK (April 22): Major U.S. stock indexes lost ground on lackluster earnings reports on Tuesday, while oil fell on concerns about U.S. crude stockpiles and Saudi Arabia's announcement that it ended its military campaign in Yemen. Europe... ...