STOCKS TO WATCH-- FRASER AND NEAVE LTD. -CapitaLand Ltd, Southeast Asia's largest property developer, said on Tuesday that Lim Ming Yan will become its new chief executive officer and president from Jan 1.
MANILA, Oct 10- Following are some company-related and market news which could have an impact on the local market. -Asia Amalgamated Holdings Corp holds special stockholders' meeting, 2/ F Uniwide Coastal Mall, CB II Roxas Blvd, Coastal Road Junction, Reclamation Area, Paranaque City, 10:00 a.m..
Phillip Chan,Director, Shenyin Wanguo Securities, Hong Kong says not to expect too much policy action from the PBOC as China's slowdown is not a huge crisis. He explains more.
Following is a list of events in Malaysia as well as news company-related and market news which could have an influence on the local market. *The Look East Policy- A New Dimension Conference at Grand Mahkota Foyer, Lower Ground, Istana Hotel, Jalan Raja Chulan, Kuala Lumpur at 830 am.
COLUMBUS, Ind.-- Indiana- based engine maker Cummins Inc. plans to cut as many as 1,500 jobs by the end of the year. The Columbus- based company has factories in Indiana, Minnesota, New Mexico and North Carolina, and several overseas.
STUTTGART, Ark.-- The nation's top agricultural negotiator said Tuesday that he expects farm exports to be down between $1 billion and $2 billion this year because of the drought. He added that he doesn't believe a one-year dip would lead to a lasting slowdown in sales to Asia, where China is a major buyer of U.S. dairy and meat, or elsewhere.
MELBOURNE, Oct 10- Australian shares fell 0.4 percent on Wednesday, with some of the biggest declines recorded by gold miners after bullion prices headed lower offshore. eased 0.6 percent to 3,882.8 after U.S. stocks fell on increasing worries about third-quarter earnings and the International Monetary Fund warned on global growth.
-1100 First meeting of the fifth term Legislative Council. Empire Room 2, 1/ F, Empire Hotel. -1000-1100 News briefing by Amnesty International to launch report- "Standing Their Ground- rise in forced evictions in China".
Paul Gruenwald, Chief Economist, Asia Pacific, ANZ, says recent economic indicators show the global economy on a downtrend. He expresses surprise at the lack of policy response by countries in Asia.
By Sam Forgione and Jennifer Ablan. The PIMCO Total Return Fund, the world's largest mutual fund with about $278 billion in assets, attracted roughly $6.25 billion in new money in the third quarter, according to Morningstar. Meanwhile, the DoubleLine Total Return Bond Fund was second with $4.45 billion in assets.
YUMMY: Third-quarter profit at Yum Brands Inc. rose 23 percent, thanks to rebounding profit growth in China and strong demand in the U.S. at its Taco Bell, Pizza Hut and KFC chains. CHINESE FOOD: Third-quarter operating profit rose 22 percent in China. Yum expects to open at least 750 new restaurants in China this year, up from its prior forecast of 700 new stores.
BY THE NUMBERS: Alcoa reported a third-quarter loss of $143 million, or 13 cents per share, largely on one-time charges. WHY IT MATTERS: Alcoa produces aluminum for a wide range of businesses. ECONOMIC EFFECT: Alcoa lowered its 2012 forecast for growth in global aluminum demand to 6 percent from 7 percent, citing China's economic slowdown.
Oct 10- Horizon Oil Ltd:. *Announces discovery in beibu gulf offshore China; well has confirmed 59 mtrs. of net oil pay in gross sand thickness of 79 mtrs.
Alcoa Inc. has slightly lowered its aluminum demand expectations for the rest of the year largely because of China's economic slowdown. Alcoa, which makes aluminum for a wide range of businesses, predicted aluminum demand would grow 6 percent this year, down from 7 percent in the previous quarter.
OTTAWA, Oct 9- Canada indicated strongly on Tuesday it would exclude Chinese telecom equipment giant Huawei Technologies Co Ltd from helping to build a secure Canadian government communications network because of possible security risks.
MELBOURNE, Oct 10- Australian shares may ease from 14- month highs on Wednesday after U.S. stocks fell on concerns over third-quarter earnings, although energy companies may be boosted by a sharp rise in oil prices. *Energy companies such as Woodside Petroleum.
Oct 9- Stronger demand for aluminum products from airplane and automobile producers helped Alcoa Inc's third-quarter profit beat Wall Street's expectations, offsetting weak aluminum prices and worries about China's slumping economy.
NEW YORK-- Wal-Mart Stores Inc. executives are expected to brief Wall Street analysts Wednesday on topics ranging from the retailer's plans to expand its small stores to its strategies for improving profitability in its overseas business.
Oct 9- In a step toward resolving U.S.- China tensions over corporate auditing, U.S. regulators said on Tuesday they have finalized an agreement to let them begin observing corporate audits in China.
NEW YORK-- Wal-Mart Stores Inc. executives are expected to brief investors Wednesday on topics ranging from the retailer's plans to expand its small stores to its strategies for improving profitability in its overseas business.