Malaysia-Market factors to watch Wed Dec 21

KUALA LUMPUR: Following is a list of events in Malaysia as well as
news stories and press reports which may influence financial markets.
WHAT IS HAPPENING IN MALAYSIA, TIMES LOCAL FOLLOWED BY GMT:
> Prime Minister Najib Razak launches Financial Sector Master Plan at Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur. Full details available at 6.00 pm (1000).
> Parliament in session.
MARKET SNAPSHOT:
* Malaysia's benchmark stock exchange dropped 0.9 percent on Tuesday, led by losses in agribusiness firm PPB Group and British American Tobacco.
*
U.S. stocks rallied nearly 3 percent on Tuesday as investors bought
surging banks, homebuilders and networking companies, though low volume
was seen as amplifying the market's move.
* Global stocks posted
their strongest gains in three weeks and the euro rose on Tuesday on
signs of improved economic prospects in Germany and the United States,
as well as a better-than-expected Spanish debt auction.
*
Malaysian crude palm oil futures ended flat on Tuesday as traders were
divided between lower export demand and expectations of heavy rains
disrupting output in southeast Asia.
IN THE NEWS
> Boeing, loser in Japan, eyes more fighter contests
> Soyoil, palm oil prices to rise in 2012-Oil World
> Hang Ten, YGM jump after Li&Fung Retailing offer
> India rejects Axiata plan raise stake in Idea Cellular-report
> Bangladesh finalises fuel term deals at higher premiums
*
Asian currencies were mixed on Tuesday, with the South Korea won
recouping much of the losses it suffered the previous day on news of
North Korean leader Kim Jong-il's death, while the Indonesian rupiah
fell.
* Southeast Asian stock markets were mixed with an easier
bias on Tuesday as market players cashed in any quick gains and remained
focused on risks attached to the unresolved sovereign debt crisis in
the euro zone. - Reuters