Rabu, 12 Disember 2012

NST Online Business Times : latest

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KL shares extend gains to open higher

Posted: 12 Dec 2012 06:09 PM PST

Share prices on Bursa Malaysia extended its gains to open higher on the back of bullish regional sentiment, dealers said.

After 31 minutes of trading, the barometer FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.79 points better at 1,653.54 after opening 2.48 points higher at 1,652.53.

HwangDBS Vickers Research said the local bourse was likely to come in for a breather after posting seven consecutive days of gains amounting to 42.4 points or 2.6 per cent.

"As such, we think that the index will likely trade sideways today," it said in a research note.

Overnight, key US equity indices closed between flat and -0.3 per cent as optimism about the Federal Reserves' plans to buy more bonds faded, with the attention now returning to the fiscal cliff negotiations taking place in Washington.

"This follows Ben Bernanke's statement that monetary stimulus will not be able to offset the fiscal cliff of automatic tax increases and budget cuts," it added.

Meanwhile, the Finance Index rose 9.68 points to 15,163.53, the Industrial Index slipped 1.96 points to 2,719.18 and the Plantation Index added 22.06 points to 7,987.31.

The Ace Index lost 3.48 points to 4,149.38, the FBMT100 rose 23.14 points to 11,074.72, the FBM Emas garnered 21.76 points to 11,217.62 while the FBM Mid 70
index was 14.91 points better at 12,130.72.

There were 132 gainers and 92 losers while 148 counters were unchanged, 1,268 counters untraded and 29 were suspended.

Volume stood at 110.48 million shares worth RM81.18 million.

Among actives, KBB Resources earned one sen to 53 sen, Nextnation Communication and Ingenuity Consolidated was flat at 10.5 sen and nine sen, respectively, but Tiger Synergy dipped 1.5 sen to 35 sen.

Heavyweights, Maybank was flat at RM9.07, CIMB perked one sen to RM7.61, Axiata increased 12 sen to RM6.52 while Sime Darby eased four sen RM9.16. Bernama

'A wild day on Wall Street'

Posted: 12 Dec 2012 04:13 PM PST

NEW YORK: US stocks closed mostly flat Wednesday after Federal Reserve Chairman Ben Bernanke warned politicians to reach a deal to avoid sending economy over the fiscal cliff.

After a surge on the Fed's announcement of more bond purchases to support the sluggish economy, the Dow Jones Industrial Average fell back to end down 2.99 points (0.02 percent) at 13,245.45, breaking a five-day winning streak.

The S&P 500-stock index edged up 0.64 point (0.04 percent) to 1,428.48, while the tech-rich Nasdaq Composite fell 8.49 (0.28 percent) to 3,013.81.

"It was a wild day on Wall Street," said Ryan Detrick of Schaeffer's Investment Research.

"We rallied out of the gate after the Fed decision," he said, but after Bernanke's news conference "we saw some strong selling."

As expected, the Federal Open Market Committee held its key interest rate at 0-0.25 percent and announced a new US$45 billion a month bond-purchase program to replace a stock-swap operation that expires at year-end.

But Bernanke put a damper on market enthusiasm when he warned that Congress and the White House needed to urgently find a solution to the fiscal cliff crisis, which could send the economy back into recession next year.

On the Dow, Wal-Mart was the biggest laggard, down 2.8 percent after chief executive Mike Duke said the retail giant's customers were worried about the fiscal cliff and the holiday shopping season was showing "very muted" positive signs.

DuPont rallied 1.4 percent after announcing a US$1 billion share buyback program and updating its 2012 earnings outlook to the high-end of its prior guidance.

Warren Buffett's Berkshire Hathaway bought back US$1.2 billion in stock, sending its B shares up 2.4 percent.

On the Nasdaq, heavyweight Apple dropped 0.4 percent. The Wall Street Journal reported the company is working with component suppliers in Asia to test TV set prototypes, suggesting a possible move into the TV market.

Costco Wholesale fell 0.6 percent, after the warehouse club retailer posted first-quarter fiscal earnings that topped Street expectations.

Rare-earth miner Molycorp dived 3.0 percent after the departure of chief Bond prices tumbled. The 10-year US Treasury yield rose to 1.70 percent from 1.65 percent late Tuesday, while the 30-year increased to 2.90 percent from 2.84 percent. -- AFP

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Oregon mall shooting: Teen survivor in serious condition - Chicago Tribune

Posted: 12 Dec 2012 08:41 AM PST

A teenage girl wounded in a shooting spree at an Oregon shopping mall that left three dead, including the suspected gunman, is in serious condition, a hospital official said today.

Kristina Shevchenko was one of at least three people shot when a man wearing what appeared to be a hockey mask opened fire with a rifle at the crowded Clackamas Town Center in the Portland suburb of Happy Valley.

Police will release the names of the victims and the shooter at a news conference at noon Chicago time today.

Shevchenko's name was released by the Oregon Health & Science University Hospital on authorization of her family.

"The family is doing OK," Shevchenko's brother, Yevgeniy, said. He said his sister was 15 years old and declined further comment.

In a Facebook posting Tuesday night, Yevgeniy Shevchenko said: "As of now she is stable and sleeping. the bullet went through bruising her lung, it missed any vital organs and it missed her ribs. she will need 2 more operations. we appreciate any and all support including your prayers! thank you."

"It really was a killing of total strangers, to my knowledge at this point and time. He was really trying to kill as many people as possible," Clackamas County Sheriff Craig Roberts told ABC's "Good Morning America."People at the mall were heroic in helping get shoppers out of the building, including emergency room nurses who rendered aid, Roberts said.

Employees at the mall with 2,000 employees were trained to run and hide, lock down and evacuate. Since previous mass shootings, the first arriving officers were trained to form teams and go inside instead of waiting for SWAT.

"This could have been much, much worse," Roberts said.

The first 911 call came at 3:29 p.m. Tuesday. The first officers arrived a minute later. By 3:51 p.m., all the victims and the gunman and rifle and been found. Four SWAT teams spent hours clearing the 1.4 million square-foot mall, leaving shoppers and workers to hide in fear.

The mall Santa, Brance Wilson, was waiting for the next child's Christmas wish when shots rang out, causing the mall to erupt into chaos.

About to invite a child to hop onto his lap, Wilson instead dove for the floor and kept his head down as he heard shots being fired upstairs in the mall.

"I heard two shots and got out of the chair. I thought a red suit was a pretty good target," said Wilson, 68. Families waiting for Santa scattered. More shots followed, and Wilson crept away for better cover.

Witnesses said the gunman fired several times near the mall food court until the rifle jammed and he dropped a magazine onto the floor, then ran into the Macy's store.

Witnesses heard the gunman saying, "I am the shooter," as he fired rounds from a semi-automatic rifle inside the Clackamas Town Center, a popular suburban mall several miles from downtown Portland.

Some were close enough to the shooter to feel the percussion of his gun.

Police rapid-response teams came into the mall with guns drawn, telling everyone to leave. Shoppers and mall employees who were hiding stayed in touch with loved ones with cellphones and texting.

Kayla Sprint, 18, was interviewing for a job at a clothing store when she heard shots.

"We heard people running back here screaming, yelling '911,'" she told The Associated Press.

Sprint barricaded herself in the store's back room until the coast was clear.

Jason DeCosta, a manager of a window-tinting company that has a display on the mall's ground floor, said when he arrived to relieve his co-worker, he heard shots ring out upstairs.

DeCosta ran up an escalator, past people who had dropped for cover and glass littering the floor.

"I figure if he's shooting a gun, he's gonna run out of bullets," DeCosta said, "and I'm gonna take him."

DeCosta said when he got to the food court, "I saw a gentleman face down, obviously shot in the head."

"A lot of blood," DeCosta said. "You could tell there was nothing you could do for him."

UN Security Council discusses response to North Korea launch - Reuters

Posted: 12 Dec 2012 08:55 AM PST

UNITED NATIONS | Wed Dec 12, 2012 11:36am EST

(Reuters) - The U.N. Security Council met on North Korea's rocket launch on Wednesday, a move Secretary-General Ban Ki-moon condemned as a "provocative act" in breach of resolutions banning Pyongyang from developing ballistic missiles.

Several council diplomats said they hoped the 15-nation body could swiftly agree a similar condemnation and later consider a binding resolution, possibly expanding already existing U.N. sanctions against Pyongyang.

"We support a strong reaction by the council, it's a clear violation," French U.N. Ambassador Gerard Araud told reporters before going into the council meeting. "But we have to see what our friends want."

"We do consider it logical to sooner or later have a resolution," he added.

British Ambassador Mark Lyall Grant echoed that sentiment: "In our view (the council) should react, it should react quickly, and it should react strongly to this provocation."

A senior Western diplomat said on condition of anonymity that the United States, Europe, Japan and South Korea were among those who would like to see U.N. sanctions expanded.

That could include adding more entities to the U.N. blacklist, banning travel and freezing assets of individual North Korean officials and tightening the cargo inspection regime.

Whether or not the council can agree a resolution - with or without expanding the sanctions - will depend largely on China and its diplomatically on the Security Council, Russia. Both nations have veto powers and tend to support each other and vote the same way on issues important to either of them.

"Exactly what the Chinese will be prepared to accept in form and substance is not yet clear," the diplomat said. He hoped they could have a resolution agreed by the end of next week.

Diplomats said China's expression of regret about the launch combined with a call for restraint left few clues as to what it would accept. Russia expressed "deep regret," which Western diplomats said they hoped was a signal that it would accept a strong response by the council.

'CLEAR VIOLATION'

North Korea successfully launched a rocket on Wednesday, boosting the credentials of its new leader and stepping up the threat the isolated and impoverished state poses to opponents.

The rocket, which North Korea says put a weather satellite into orbit, has been labeled by the United States, South Korea and Japan as a test of technology that could one day deliver a nuclear warhead capable of hitting targets as far away as the continental United States.

It was Japan that first appealed to the Security Council to take up the issue of North Korea's missile launch.

Ban, a former South Korean foreign minister, expressed concern that the launch could negatively impact prospects for peace and security in the region.

A statement issued by Ban's office said the launch was "a clear violation of Security Council resolution 1874, in which the Council demanded that the DPRK not conduct any launch using ballistic missile technology."

The statement said Ban had urged North Korea's leaders not to launch a missile but "instead to build confidence with its neighbors while taking steps to improve the lives of its people."

"The Secretary-General is concerned about the negative consequences that this provocative act may have on peace and stability in the region," the statement said, adding that Ban was in touch with "concerned" governments.

North Korea followed what it said was a similar successful launch in 2009 with a nuclear test that prompted the U.N. Security Council to stiffen sanctions that it originally imposed in 2006 after the North's first nuclear test.

North Korea is banned from developing nuclear and missile-related technology under U.N. resolutions, although Kim Jong-un, the youthful head of state who took power a year ago, is believed to have continued the state's "military first" programs put in place by his late father, Kim Jong-il.

(Editing by David Storey and Xavier Briand)

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