KUALA LUMPUR: Investor sentiment at Asian markets, including at Bursa Malaysia, is likely to remain tepid on Thursday, June 2 as fresh data showed a slowdown in US employment as well factory production in Asia and Europe.
US private sector payroll growth slowed sharply in May and fell to the lowest level in eight months.
The ADP Employer Services report showed private employers added only 38,000 jobs last month, while April private payrolls were revised down to an increase of 177,000 from the previously reported 179,000.
The ADP figures came ahead of the initial jobless claim data scheduled to be released by the US Department of Labor later today.
Meanwhile, factory growth eased in Europe and Asia in May, surveys showed on Wednesday, feeding concerns that the world's main economic engines are cooling fast as richer countries curtail orders, according to Reuters.
Purchasing managers indexes (PMI), measuring the activities of thousands of factories across the world, sank to multi-month lows in China and Europe, where even regional pacesetters France and Germany showed fresh signs of sagging, it said.
On Bursa Malaysia, stocks that could be in focus include banking stocks, Dialog Group Bhd, Benalec Holdings Bhd, CB Industrial Product Holding Bhd and Bina Puri Holdings Bhd.
RHB Capital Bhd yesterday said it had been formally been notified by CIMB and Maybank that the two latter parties had received approval from Bank Negara Malaysia to commence possible talks with RHB Capital.
CIMB and Maybank closed lower yesterday in active trade a day after they had both separately given the nod by Bank Negara to start talks with RHB Capital.
Dialog’s unit Dialog E&C Sdn Bhd has inked a RM1.9 billion contract with Pengerang Independent Terminals Sdn Bhd (PITSB) to build the first phase of an independent deepwater petroleum terminal at Pengerang, Johor.
Benalec expects to realise a net gain of RM34.93 million from the completion of separate agreements its units have entered for the disposal of land and joint venture for a mixed property development.
Benalec on June 1 said its subsidiaries Sentosacove Development Sdn Bhd and Orientalcove Realty Sdn Bhd had entered into a sale and purchase agreement and joint venture agreement with Vista Selesa Development Sdn Bhd, respectively.
CBIP is selling its entire equity interests in Sachiew Plantations Sdn Bhd and Empressa (M) Sdn Bhd for a total of RM268.06 million.
Sachiew is principally involved in the cultivation of oil palm and production of crude palm oil and palm kernel, while Empressa engages in the cultivation of oil palm and the operation of a palm oil mill.
CBIP said the gross proceeds of RM268.06 million from the disposal would be utilised for its working capital including for financing receivables, inventories, and repayment of bank borrowings.
Meanwhile, Bina Puri’s 80%-indirect owned subsidiary PT Megapower Makmur has received two contracts from PT PLN (PERSERO) to operate power plants in Indonesia.