Hong Leong Investment Bank Research has lowered its target price for plantation firm Kuala Lumpur Kepong Bhd to 23.39 ringgit from 23.60 ringgit to reflect lower forecasts for the company's earnings. KLK's existing refineries were affected by the revision of export tariffs in Indonesia and the weak global economic outlook, Hong Leong added.
Maybank Kim Eng initiated coverage of Yeo Hiap Seng Ltd.
MELBOURNE, Oct 3- Australian shares hit a 14 month-high on Wednesday as banks and broader stocks surged after the central bank cut interest rates and the local dollar weakened, enhancing export earnings. Top banks were all higher, led by National Australia Bank. "People are rethinking everything," said Macquarie Equities division director Lucinda Chan.
RHB Research initiated coverage of IHH Healthcare Bhd. with' outperform' rating and fair value of 3.53 ringgit per share, citing strong earnings growth prospects for the world's second largest private healthcare service provider through 2014..
MANILA, Oct 3- The Asian Development Bank cut most of its 2012 and 2013 growth estimates for developing Asia on Wednesday as a slump in global demand weighs on the region's powerhouses China and India and on its export-dependent economies.
MANILA, Oct 3- The Asian Development Bank released its revised 2012 outlook for 45 economies in developing Asia, which spans the Pacific to Central Asia. Central Asia: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan. South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka.
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MELBOURNE, Oct 3- Australian shares rose 0.3 percent to a fresh five-month high on Wednesday, lifted by gains in top banks even as miners lost ground. was up 12 points at 4,444.7 by 0017 GMT, its highest since May 1. ()DIARIES& DATA: IPO diary& data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead.
GLOBAL MARKETS-US stocks flat, euro up as Spain bailout in focus. -Keppel Corp is in talks with Malaysian state oil firm Petronas to invest in a new gas-fired power plant in Johor that could supply electricity to Singapore, the Straits Times reported without identifying its sources.
*Former international trade and industry Aziz attends Asian Business Seminar Circuit 2012 at The Ritz-Carlton Hotel, Kuala Lumpur at 0800 am. *The CNBC Summit Malaysia at Hilton Hotel, Sentral, Kuala Lumpur at 0845 am. *Halal Industry Development Corp hands flag to the Malaysian Culinary Team at Hilton Hotel, Jalan Stesen Sentral, Kuala Lumpur at 0900 am.
CANBERRA, Oct 3- Australian shares are set to open higher on Wednesday, extending recent gains after the Reserve Bank of Australia cut its main cash rate, although uncertainty over Europe's debt crisis and China's growth will still weigh on investor sentiment.
BANGKOK, Oct 2- Most Southeast Asian stock markets closed higher on Tuesday, with the Thai main index touching its highest in more than 16 years and most others hitting multi-week highs amid selective buying in regional blue chips. Indonesia's Astra International Tbk PT. and Malaysia's Axiata Group Bhd.
BANGKOK-- World stock markets lost momentum Tuesday as investors weighed an improvement in U.S. manufacturing against the possibility Spain's government debt will be downgraded to junk status. Britain's FTSE 100 fell 0.3 percent to 5,806.11. In Asia, Japan's Nikkei 225 index shed morning gains to close 0.1 percent lower at 8,786.05.
SYDNEY, Oct 2- Australian shares rallied 1 percent on Tuesday to their highest close in five months after the central bank cut its main cash rate in a bid to bolster growth in the face of weak commodity prices and global uncertainty.
SYDNEY, Oct 2- Australian shares rallied 1 percent to their highest close in five months after Australia's central bank cut its main cash rate in a bid to bolster growth in the face of weak commodity prices and global uncertainty.
Singapore shares rose after a surprising expansion in factory activity in the United States, with traders buying small and mid-cap stocks such as Tiger Airways Holdings Ltd and firms with exposure to Myanmar. The Straits Times Index was up 0.5 percent at 3,072.96 points, while the MSCI index of Asia-Pacific shares outside Japan added 0.3 percent.
Shares in Susco Pcl gained as much as 10.7 percent to touch their highest since September 1994 on expectations the oil retailer would get a strong revenue boost from its recent acquisition of petrol stations of Malaysia's Petronas. Susco shares were up 9.1 percent at 2.64 baht, climbing at one point to 2.68 baht.
UOB Kay Hian raised its target price on Super Group Ltd. 11:38 STOCKS NEWS SINGAPORE- Singapore Q3 home prices rise on mass-market growth. Singapore's private home prices in the third quarter rose 0.5 percent from the previous quarter, data from the Urban Redevelopment Authority showed, making it the highest rate of increase so far this year.
KUALA LUMPUR, Oct 2- Malaysian privately-owned property developer Naza TTDI Sdn Bhd agreed on Tuesday with Australia's Lend Lease Corp to jointly develop a mixed-use property project with potential gross development value of 4 billion ringgit.