Ringgit strengthens by 0.2pc, as other asian stocks rise with nickel before US payrolls data |
- Ringgit strengthens by 0.2pc, as other asian stocks rise with nickel before US payrolls data
- Halep reaches first grand slam final
- ‘A Girl is a Half-formed Thing’ wins Baileys Women’s Prize
- Live-action ‘Beauty and the Beast’ remake in the pipeline
- What’s on at E3: Sony’s E3 2014 media briefing
- Asian futures rise with US stocks, Euro near two week high
| Ringgit strengthens by 0.2pc, as other asian stocks rise with nickel before US payrolls data Posted: 05 Jun 2014 05:50 PM PDT
The MSCI Asia Pacific Index added 0.3 per cent by 9.21am in Tokyo, set for the highest close since October 22 and a fourth straight weekly gain. Japan's Topix gauge rose for the 11th time in 12 days. Standard & Poor's 500 Index futures were little changed, after the gauge closed at a record. Gold was near a one-week high and nickel rose 0.3 per cent in a second day of gains. The Malaysian ringgit and Korean won forwards strengthened 0.2 per cent as the euro held near a two-week high. Intent on warding off deflation and preserving growth, the ECB became the first major central bank to use negative deposit rates to spur consumption, also offering liquidity to banks to encourage lending. The unprecedented easing puts Europe at odds with the Federal Reserve, which is winding down its record stimulus amid an improving economy. Analysts predict 215,000 workers were added to nonfarm payrolls in the US in May, after the biggest increase since the start of 2012 for April. The ECB's moves are "further growth supportive and a lower interest-rate backdrop is positive for equities," Chris Green, director of economics and strategy in Auckland at First NZ Capital Ltd, said by phone. "There's still the impression that the labor market in the US is a relatively positive story. But it would be a surprise if momentum was maintained at the levels we saw in April, and so the expectation is that we'll see some modest pullback." Korea closed Nonfarm payrolls in the US rose by 288,000 people in April, the most since a 360,000 advance in January 2012. Claims for American unemployment benefits climbed by a more-than- estimated 312,000 in the week to May 31, data yesterday showed. Australia's S&P/ASX 200 Index rose 0.4 per cent, trimming its weekly retreat to 0.6 per cent, still the worst performance among 24 developed markets tracked by Bloomberg after Sweden's 0.8 per cent slide. South Korean markets are closed today for the second time this week. — Bloomberg  |
| Halep reaches first grand slam final Posted: 05 Jun 2014 05:48 PM PDT
The Romanian fourth seed, who will face 2012 champion and last year's runner-up Maria Sharapova tomorrow, had Petkovic under her spell in the opening set but had to fend off some spirited resistance in the second. She fell a break down but recovered to force a tiebreak which she always controlled. Halep, who has yet to drop a set in the tournament, ended the contest on her first match point with her 15th forehand winner. "It's incredible I will play the final here in Paris," said Halep. "She played really well but I think I was a little bit stronger in the end. "I have a lot of confidence in myself now. I played really well here. The next round will be tough. I played her (Sharapova) in Madrid. Why not take my revenge," she added. Sharapova, who beat Canadian Eugenie Bouchard 4-6 7-5 6-2 in the other semi-final, has an 18-1 record on clay this season, including a three-set win over Halep in the Madrid final. Injury-prone Petkovic, playing at the French Open for the first time since reaching the quarter-finals in 2011, said she had paid for a slow start. "I'm very disappointed because I had a lot of chances in the second set," she said. "I feel like the first set Simona played really great tennis, and I had trouble getting into my rhythm and trouble with my footwork. I wasn't really on fire." Petkovic made six unforced errors in the first two games and the shrewd Halep, last year's most improved player on the women's tour, quickly opened a 5-1 lead on a sunny Philippe Chatrier court. While not packing too much power, Halep compensates with beguiling anticipation and great footwork while her accuracy off the ground had Petkovic chasing left and right. Once the nerves had settled Petkovic's greater firepower began to make an impression and she converted her first break point in the fourth game with a forehand winner. Suddenly, it was Halep who was running around chasing balls. The German showed signs of frustration in the following game, however, sending a routine forehand wide to concede the break and allow Halep to regain some control. Halep, managed by compatriot Virginia Ruzici, the 1978 Roland Garros champion, took her chance and levelled for 3-3 and remained solid as the set went into a decider. After opening a 4-1 lead, Halep kept her composure to become her country's first grand slam finalist since Ruzici in 1980 when she lost to Chris Evert. ― Reuters |
| ‘A Girl is a Half-formed Thing’ wins Baileys Women’s Prize Posted: 05 Jun 2014 05:44 PM PDT
"To read 'A Girl is a Half-formed Thing' is to plunge inside into the narrator's head, experiencing her world first-hand," wrote the prize's five judges, with chairwoman Helen Fraser calling it "an amazing and ambitious first novel that impressed with its inventiveness and energy." Nigerian writer Chimamanda Ngozi Adichie, who won the prize in 2007 with "Half of a Yellow Sun," having been nominated in 2004 for "Purple Hibiscus," was again represented, this time by "Americanah." Likewise, American author Donna Tartt had been shortlisted for 2013 success "The Goldfinch," after a 2003 nomination for her sophomore, "The Little Friend." Also present on the shortlist were Australian Hannah Kent with "Burial Rites" and Irishwoman Audrey Magee with "The Undertaking." Indian-American Pulitzer Prize winner Jhumpa Lahiri, whose last two novels share publication years with those of Donna Tartt, was the sixth shortlistee. Her 2013 novel "The Lowland" had previously received nominations for the Man Booker and National Boook Award. The Baileys Women's Prize for Fiction is open to female writers of full-length novels published during the year ending March 31. Authors of all nationalities are eligible, as long as the book was originally written in English and published in the UK during the relevant period. It had been named after French telco Orange between 1996 and 2012 and then, as it sought a new sponsor in 2013, known as the Women's Prize for Fiction, before transferring sponsorship rights to Diageo's Irish Cream brand. November 2013 saw "A Girl is a Half-formed Thing" win the inaugural Goldsmiths Prize before going on to scoop the Kerry Group Irish Fiction Award in McBride's homeland this May. — AFP-Relaxnews |
| Live-action ‘Beauty and the Beast’ remake in the pipeline Posted: 05 Jun 2014 05:34 PM PDT
Disney continues to draw inspiration from its catalogue of animated movies for new live-action remakes. After releasing a new take on "Alice in Wonderland" directed by Tim Burton and, more recently, the box-office hit "Maleficent" based on "Sleeping Beauty", the studio is turning its attention to "Beauty and the Beast." The new live-action adaptation will be helmed by Bill Condon, who is best known for directing "Twilight: Breaking Dawn" (Parts 1 and 2) and "Dreamgirls". There is no information yet on the production timeline for the "Beauty and the Beast" remake, which is still early in its development. Meanwhile, Disney already has a few other live-action remakes in the pipeline. In 2015, the studio will release an adaptation of "Cinderella" directed by British filmmaker Kenneth Branagh. In addition, Jon Favreau is slated to direct a live-action remake of "The Jungle Book". — AFP-Relaxnews |
| What’s on at E3: Sony’s E3 2014 media briefing Posted: 05 Jun 2014 05:33 PM PDT
Big budget action games, indie experiences, and a glimpse at new technology are all expected to be shown off during the PlayStation presentation. Slick PlayStation 4 racing game "DriveClub" is due for release in October, nearly a year after it was originally expected, while historical action adventure "The Order: 1886" is tracking for an early 2015 launch and could find itself up against Microsoft's next "Gears of War" on Xbox. "Uncharted 4" was another 2013 announcement that will benefit from further exposure, and the PlayStation 3's acclaimed "The Last of Us" is to make the jump to PlayStation 4 late on in 2014. In addition, the well anticipated new franchise from "Halo" developer Bungie, the self-styled shared-world shooter "Destiny," has a history of promoting itself at PlayStation events (even if it's due on both Xbox consoles as well), and this year's E3 provides another key opportunity for the September title. Similarly, Ubisoft is known for showing exclusive aspects of the "Assassin's Creed" series under the PlayStation banner, and so an extra look at "Assassin's Creed: Unity" would be true to form. Among other games that could be given stage-time include "Project Beast," a well rumoured PlayStation-exclusive follow up to the cult favourite "Dark Souls" series of monster-infested gauntlet runs. In more thematic terms, Sony can be expected to continue focusing on its curated selection of innovative indie games, gently press the benefits of owning both Vita and PS4, and underline the value of its PlayStation Plus subscription scheme. In-house virtual reality headset Project Morpheus could be Sony's big hardware unveiling, with the PlayStation Now game streaming service also on hand — all this with an eye on how Microsoft will have kicked off E3 six hours earlier. How to watch it The PlayStation E3 press conference is to begin at 6pm on June 9 in Los Angeles, 9pm in New York, and 10pm in São Paulo, Brazil. That equates to 2am on June 10 in the UK and South Africa, 3am in Central Europe, 9am in Beijing, Singapore and Malaysia, 10am in Japan and 11am in Sydney, Australia. The presentation will be broadcast live via E3insider.com, playstation.com, in select US cinemas and on Spike TV, with youtube.com/playstation to carry relevant video uploads. — AFP-Relaxnews |
| Asian futures rise with US stocks, Euro near two week high Posted: 05 Jun 2014 05:29 PM PDT
WELLINGTON, June 6 — Asian index futures followed US stocks higher before an update on American employment, while gold held its advance. The euro was near a two-week high after new stimulus measures from the European Central Bank spurred purchases of stocks and bonds in the region. Nikkei 225 Stock Average futures rose 0.5 per cent to 15,140 in the Osaka pre-market, after contracts on indexes in Australia and Hong Kong climbed at least 0.2 per cent. Standard & Poor's 500 Index futures were little changed by 8.13am in Tokyo, after the gauge jumped 0.7 per cent to a record and Treasuries rebounded. Gold was near the highest price in a week. The euro was steady at US$1.3661 (RM4.41) after recovering from a 0.7 per cent slump yesterday to end the session up 0.5 per cent. Intent on warding off deflation and preserving growth, the ECB became the first major central bank to use negative deposit rates to spur consumption, also offering liquidity to banks to encourage lending. The unprecedented easing puts Europe at odds with the Federal Reserve, which is winding down its record stimulus amid an improving economy. Analysts predict 215,000 workers were added to nonfarm payrolls in the US in May, after the biggest increase since the start of 2012 for April. The ECB's moves are "further growth supportive and a lower interest-rate backdrop is positive for equities," Chris Green, director of economics and strategy in Auckland at First NZ Capital Ltd, said by phone. "There's still the impression that the labor market in the US is a relatively positive story. But it would be a surprise if momentum was maintained at the levels we saw in April, and so the expectation is that we'll see some modest pullback." Asian stocks Nonfarm payrolls in the US rose by 288,000 people in April, the most since a 360,000 advance in January 2012. Claims for American unemployment benefits climbed by a more-than- estimated 312,000 in the week to May 31, data yesterday showed. Nikkei 225 futures on the Chicago Mercantile Exchange lost 0.1 per cent to 15,140 after trading little changed in the previous session. Futures on Australia's S&P/ASX 200 Index rose 0.2 per cent, with the gauge down 1 per cent this week for the worst performance among 24 developed markets tracked by Bloomberg. Hang Seng Index futures added 0.3 per cent while contracts on the Hang Seng China Enterprises Index of mainland Chinese shares listed in Hong Kong climbed 0.5 per cent. South Korean markets are closed today for the second time this week. European moves The MSCI Asia Pacific Index is up 0.9 per cent this week through yesterday, on course for its fourth consecutive advance, the longest run of weekly gains since March. Japan's Topix index has rallied 2.6 per cent in a third straight week of gains, with the yen down 0.6 per cent versus the dollar. The euro was little changed at ¥139.93 (RM4.46) after strengthening 0.1 per cent against Japan's currency yesterday. The 18-nation currency touched US$1.3670 last session, the strongest level since May 22 as prospects the ECB's efforts will support growth fuelled demand for European assets. The Stoxx Europe 600 Index added 0.4 per cent to close near a six-year high, while yields on Italy's two-year notes dropped to a record low. The ECB's deposit rate was cut to minus 0.1 per cent, while the benchmark refinancing rate was reduced by 10 basis points to 0.15 per cent, with economists surveyed by Bloomberg projecting a deeper cut to 0.1 per cent. The marginal rate was shaved by 35 basis points, or 0.35 percentage point, to 0.4 per cent. 'Positive thing' A deteriorating economic outlook and lackluster inflation prompted the ECB to act. President Mario Draghi said the central bank will begin new, "targeted" offerings of liquidity to banks to encourage them to lend money to the real economy. While conceding that rates are at the lower bound "for all practical purposes," he signalled the ECB is willing to move again. "The stimulus from Europe is a positive thing, especially when you compare it to the fact that the US is starting to ease up," Joe Bell, senior equity analyst at Cincinnati-based Schaeffer's Investment Research Inc., said in a phone interview. "Stimulus is being added from a different market." The US Bureau of Labor Statistics report today may also show private payrolls, which exclude government agencies, increased 210,000 in May after a 273,000 gain in the previous month, according to the median estimate in a Bloomberg survey of economists. Fed officials are watching the labor market as they move to complete their bond-purchase programme late this year and start considering the timing of the first interest-rate increase since 2006. Central-bank stimulus has helped propel the S&P 500 higher by as much as 187 per cent from its bear-market low in March 2009. Small-cap surge The Russell 2000 Index of small companies climbed 2 per cent in the US to the highest close since April after hedge-fund manager David Tepper expressed renewed confidence in US equities. Tepper, founder of US$20 billion hedge-fund firm Appaloosa Management LP, said in an interview with CNBC that his concerns over the market have eased. On May 15, he described the market as "kind of dangerous" and expressed nervousness because the economy wasn't expanding at a sufficient pace. Twitter Inc. added 3 per cent in US hours after it agreed to buy Namo Media, with the microblogging site seeking to bolster its reach in mobile advertising. Ciena Corp surged 18 per cent as earnings beat analyst estimates. Sprint Corp dropped 4 per cent after people with knowledge of the matter said it is nearing a price agreement for a potential acquisition of T- Mobile US Inc. Commodity markets Yields on 10-year Treasuries snapped a five-day advance, falling two basis points, or 0.02 percentage point, in New York to 2.58 per cent. Rates are still up 11 basis points this week, set for the steepest weekly climb since March. Gold was little changed on the spot market today at US$1,253.41 an ounce, after jumping 0.8 per cent last session and reaching the highest intraday price since May 30. The precious metal has gained 0.3 per cent this week, after falling the previous two weeks. West Texas Intermediate crude oil was little changed at US$102.46 a barrel, after slipping 0.2 per cent yesterday. WTI has fallen 0.2 per cent this week. Wheat resumed declines yesterday, sliding 1.4 per cent to the lowest close since February 27 on speculation the European Union will boost global inventories. Rice capped its longest slump in 12 years, sinking 1 per cent in a ninth day of declines. — Bloomberg |
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