Khamis, 22 Ogos 2013

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US stocks make solid gains

Posted: 22 Aug 2013 04:47 PM PDT

NEW YORK: US stocks managed solid gains on Thursday despite a three-hour shutdown of the Nasdaq market that disrupted trade on other exchanges as well.

Nasdaq blamed technical problems in its computers for the shutdown, which came after midday and lasted until trade resumed around 3:25 pm (1925 GMT), giving investors 35 minutes to clear their books.

At the finish the Dow Jones Industrial Average was up 66.19 points (0.44 percent) at 14,963.74.

The broad-based S&P 500 added 14.16 points (0.86 percent) at 1,656.96, while the Nasdaq Composite jumped 38.92 points (1.08 percent) to 3,638.71.

"The upturn is being led by Germany, where growth accelerated again in August, driven in turn by rising domestic and export demand," said Markit chief economist Chris Williamson.

"So far, the third quarter is shaping up to be the best... since the spring of 2011," Williamson said, cautioning that the bloc was not yet entirely in the clear.

And HSBC's PMI for China's manufacturing sector jumped to 50.1 in August, up from July's 11-month low of 47.7.

The Nasdaq shutdown was disruptive, but the market allowed traders to cancel orders and key stocks and options contracts could traded on other boards.

But it struck a blow to the market still getting over its mishandling of last year's disastrous Facebook IPO and, more recently, the lost of the listing of Oracle shares to the New York Stock Exchange.

Shares of Nasdaq OMX were down 3.4 percent at the close.

Shares of fashion retailer Abercrombie & Fitch sank 17.7 percent to their lowest level in nine months after the company's second-quarter income sank, coming in at half of forecasts.

Discount retail chain Dollar Tree rose 2.5 percent on its second-quarter report, which showed net income up nearly 5 percent and a similar gain in sales.

Yahoo shares jumped 3.1 percent on an industry report that traffic at its websites surpassed that on websites owned by search rival Google in July.

Hewlett-Packard sank 12.5 percent on its weak quarterly earnings report, as the personal computer market continues to shrivel.

Oilfield services company Halliburton gained 1.8 percent after announcing a US$3.3 billion share buyback -- AFP

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Bradley Manning wants to live as a woman, be known as Chelsea - CNN (blog)

Posted: 22 Aug 2013 09:00 AM PDT

STORY HIGHLIGHTS
  • NEW: Army does not provide hormone therapy to prisoners, official says
  • Bradley Manning, convicted of leaking classified documents, wants to live as a woman
  • Identifying as Chelsea Manning, private says "I am a female" in statement read on NBC's "Today"
  • Manning was sentenced last week to 35 years for giving secret documents to Wikileaks

(CNN) -- "I am Chelsea Manning."

With those words, read from a statement on NBC's "Today" on Thursday, Bradley Manning immediately shifted public conversation away from the Army private's conviction on espionage charges to gender identity.

"As I transition into this next phase of my life, I want everyone to know the real me," Manning said in the statement. "I am Chelsea Manning. I am a female. Given the way that I feel, and have felt since childhood, I want to begin hormone therapy as soon as possible. I hope that you will support me in this transition."

While his supporters may back Manning, the Army said Thursday it won't.

"The Army does not provide hormone therapy or sex-reassignment surgery," Lt. Col. Justin Platt told CNN Thursday.

One Army official who was not authorized to speak publicly on Manning's case said the private remains a male in the eyes of the Army. Another said Manning would be treated like any other prisoner.

During Bradley Manning's court-martial, his defense team released a 2010 photo of him dressed as a woman. Manning, the soldier convicted of giving classified state documents to WikiLeaks, intends to begin hormone therapy for gender reassignment and live the rest of his life as a woman, he said in a statement read on NBC's "Today" show on August 22. During Bradley Manning's court-martial, his defense team released a 2010 photo of him dressed as a woman. Manning, the soldier convicted of giving classified state documents to WikiLeaks, intends to begin hormone therapy for gender reassignment and live the rest of his life as a woman, he said in a statement read on NBC's "Today" show on August 22.
Intelligence leaker Bradley Manning
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"A lot of the inmates have issues they're dealing with," said the second official, who also was not authorized to speak publicly on Manning's case. "Even if you have gender identity disorder, you still serve your sentence."

Manning's lawyer, David Coombs, told "Today" that he'll take action if the Army doesn't provide Manning with the hormone therapy that he's requesting of the military prison at Fort Leavenworth, Kansas.

"I'm hoping Fort Leavenworth would do the right thing and provide that," Coombs said. "If Fort Leavenworth does not, then I am going to do everything in my power to make sure that they are forced to do so."

Manning was sentenced Wednesday to 35 years in prison for leaking 750,000 pages of classified documents to the anti-secrecy group WikiLeaks. A military judge convicted Manning in July, sparing the private from the most serious charge of aiding the enemy.

Gender identity issues

The issue of Manning's gender identity repeatedly surfaced in the court martial proceedings. A widely circulated picture released by the military shows Manning wearing a blonde wig.

The image came from an e-mail Manning sent to his sergeant titled, "My Problem."

"It's not going away, it's haunting me more and more as I get older," Manning wrote in the e-mail. "Now, the consequences of it are dire, at a time when it's causing me great pain in itself. As a result, I'm not sure what to do about it."

An Army psychologist called by the defense said Manning appeared to be isolated and under intense pressure as a male soldier struggling with gender identity issues.

Speaking in the sentencing phase of the court martial last week, Manning said the decision to leak the documents came while "dealing with a lot of issues" -- a reference to the gender identity crisis.

Reaction

Manning's announcement brought a wide range of reaction.

On Twitter, where "Chelsea Manning" was a hot topic of discussion, user onekade wrote of being "pretty much in awe of Chelsea Manning's bravery, on so many fronts."

Others were less supportive.

"Chelsea Manning," conservative pundit John Podhoretz tweeted. "This country has officially jumped the shark."

Coombs told "Today" that Manning did not intend to make a public issue of his desire to live as a woman.

"She never really wanted this to be public to begin with," Coombs said. "When the information came out, you need to understand that she gave it to adrian lamo in a very private setting, in a one-on-one chat, never expecting this to be public. Now that it is, unfortunately, you have to deal with it in a public manner."

Manning's lawyer: He should not 'rot in jail'

Legal issues

The issue of taxpayers being required to pay for gender reassignment surgery has come up repeatedly in recent court cases.

Earlier this year, a federal appeals court reinstated a lawsuit brought by a transgender prisoner in Virginia, where the prison had refused to allow her to undergo sex reassignment surgery.

Last year a federal judge ordered Massachusetts to pay for a sex change operation for a convicted murderer. The state is appealing that decision.

There are few good statistics on the number of transgender inmates in U.S. prisons, according to Vincent Villano of the National Center for Transgender Equality. A study of California prisons identified 330 transgender inmates in an overall prison population of 160,000, he said.

The center believes those numbers are higher, he said.

CNN's Chris Lawrence and Dan Merica contributed to this report

If chemical attack proved, France says, nations should respond 'with force' - Washington Post

Posted: 22 Aug 2013 08:18 AM PDT

Activists, meanwhile, struggled to confirm that more than 1,000 people had perished, as experts warned that vital physical evidence could dissipate unless a U.N. inspection team — already in the country to investigate previous claims of poisonous gas use — was given permission to visit the site.

The U.N. weapons experts were negotiating with Syrian officials to try and gain access, according to U.N. officials.

Although the United States, France, Britain and others have specifically requested that the inspection team proceed, "there is a requirement of consent in situations like this," Deputy U.N. Secretary General Jan Eliasson said, "and also that the security situation will allow them to enter the area. It is a very dramatic situation and the security situation right now does not allow such access."

The Syrian government on Wednesday strongly denied that there had been an attack. But widely circulated images of children in spasms and vomiting added to the pressure on the United States and the international community to take robust action.

The alleged attack came almost exactly a year after President Obama said the use of chemical weapons by Assad's forces would be a "red line" for his administration.

"There would have to be reaction with force in Syria from the international community," Foreign Minister Laurent Fabius told French television network BFM, when asked about action that should be taken if the allegations are proven. He added, however, that "there is no question of sending troops on the ground."

Fabius alluded to the possibility that the international community might need to circumvent the United Nations Security Council, which has been stymied in acting on Syria by veto-wielding Russia, a long-time ally of Assad's.

During an emergency meeting on Wednesday, the council's members failed to agree on a strongly worded statement condemning the attack, simply calling for a "thorough, impartial and prompt investigation."

Britain, France and the United States were pushing for a stronger statement, but Russia and China objected, the Associated Press reported. The Russian government, Assad's strongest supporter, suggested that the opposition itself had staged the attack in a "pre-planned provocation.''

After a two-hour closed door session, the council emerged with a "call for investigation" of the new allegations. The request does not refer specifically to the team currently on the ground, instead speaking of the need to "clarify" what happened.

Under its current mandate and agreement with Syrian government, the U.N. team that is now inside Syria is authorized to examine only three sites of the 13 that various other governments and the Syrian opposition had identified as suspicious before the Wednesday attack.

One Security Council diplomat said that Wednesday's letter was intended to "increase political pressure on Syria" to permit the inspection team currently in the country access to the site of the latest incident.

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Rabu, 21 Ogos 2013

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KL shares open lower

Posted: 21 Aug 2013 06:57 PM PDT

Share prices on Bursa Malaysia opened bearish in early trading today, led by losses in index-linked counters.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 19.9 points lower at 1,724.95, after opening 17.51 points easier at 1,743.49.

Maybank shed 19 sen to RM9.81 while IOI Corp eased 12 sen to RM5.18. Both counters contributed 4.376 points to the index.

HwangDBS Vickers Research said the bears may return to the local bourse today with the benchmark FBM KLCI pulling back deeper towards the key support line of 1,720 ahead.

Overnight, Wall Street's major stock indices slipped between 0.4 per cent and 0.7 per cent.

This came after minutes of the last US Federal Open Market Committee meeting revealed that the policymakers were supportive of a move to reduce monetary stimulus if the US economy improved.

Back home, Bank Negara Malaysia revised downward the country's GDP's growth for this year to 4.5-five per cent from five-six per cent previously forecast.

"In terms of corporate actions, listed companies that reported below par quarterly financial results last evening included AirAsia and Boustead Holdings," said HwangDBS in a note today.

Weaker sentiment spilled over other Asian market as well.

Across Asia, Japan's Nikkei 225 was 1.10 per cent lower at 13,276.04, Hong Kong's Hang Seng Index shed 0.69 per cent to 21,817.73 and Singapore's Straits Times Index fell 1.20 per cent to 3,071.66.

On Bursa Malaysia, the Plantation Index slipped 76.14 points to 8,108.77, the Finance Index erased 201.43 points to 16,250.93 but the Industrial Index was up 3.55 points at 2,944.83.

The FBM Emas Index trimmed 129.17 points to 12,028.63, the FBM100 Index fell 125.55 points to 11,763.89 and the FBM 70 Index gave up 105.05 points to 13,797.14.

Market breadth was negative with losers outstripping gainers 347 to 21, while 117 counters were unchanged, 1,100 untraded and 18 others were suspended.

Turnover stood at 131.095 million shares worth RM133.734 million.

Among actives, The Media Shoppe and INS Bioscience were flat at nine sen and five sen, respectively.

MAS and Sona Petroleum shed one sen each to 33.5 sen and 42.5 sen, respectively, while Flonic Hi-Tec was 1.5 sen lower at 16.5 sen.

Heavyweights, Axiata was flat at RM6.65, YTL Corp shed one sen to
RM1.58 and CIMB fell seven sen to RM7.55.-- Bernama

Ringgit opens lower against US dollar

Posted: 21 Aug 2013 07:00 PM PDT

The ringgit opened lower against the US dollar on weaker demand for the local note, amid improving external environment, a dealer said.

The ringgit fell against the US dollar to 3.3150/3180 from 3.2930/2960 on Wednesday.

The dealer said investors' appetite shifted towards the greenback
following the release of the Federal Open Market Committee's July meeting minutes today.

"Federal officials were comfortable with Chairman Ben Bernanke's plan to start reducing bond buying later this year if the economy improves," he added.


Meanwhile, Bank Negara Malaysia Governor Zeti Akhtar Aziz said Malaysia was expected to maintain a current account surplus this year, and could cope with the current "highly destabilising" capital flows.

"This is not a new phenomenon. We coped with it before," she said, adding that the economy was expected to remain supported by strong domestic growth.

Sales of Malaysian bonds by foreigners, who held almost half of the country's government debt, could be absorbed by Malaysian institutions including the insurance industry, she said.

The ringgit depreciated against the Singapore dollar to 2.5828/5857 from 2.5745/5776 yesterday and was sharply lower against the yen at 3.3861/3899 from 3.3771/3819 on Wednesday.

The currency weakened against the British pound to 5.1777/1834 from 5.1601/1658 on Wednesday and fell against the euro to 4.4215/4265 from 4.4083/4133 yesterday.-- Bernama

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WikiLeaks soldier Manning sentenced to 35 years in prison - Reuters

Posted: 21 Aug 2013 08:11 AM PDT

U.S. soldier Bradley Manning is escorted into court to receive his sentence at Fort Meade in Maryland August 21, 2013. REUTERS/Kevin Lamarque

FORT MEADE, Maryland | Wed Aug 21, 2013 11:06am EDT

(Reuters) - Bradley Manning, the U.S. soldier convicted of the biggest breach of classified data in the nation's history by providing files to WikiLeaks, was sentenced to 35 years in prison on Wednesday.

Judge Colonel Denise Lind, who last month found Manning guilty of 20 charges including espionage and theft, could have sentenced him to as many as 90 years in prison. Prosecutors had asked for 60 years.

Manning, 25, will be dishonorably discharged from the U.S. military and forfeit some pay, Lind said. His rank will be reduced to private from private first class.

Manning would be eligible for parole after serving one-third of his sentence, which will be reduced by the time he has already served in prison plus 112 days.

Wearing his dress uniform, the slightly built Manning stood at attention as the sentence was read, seeming to show no emotion. As he was escorted out of the courtroom, supporters shouted "Bradley, we are with you."

Elizabeth Goitein, co-director of the Liberty and National Security Program at the Brennan Center for Justice, called the sentence "unprecedented" in its magnitude.

"It's more than 17 times the next longest sentence ever served" for providing secret material to the media, Goitein said. "It is in line with sentences for paid espionage for the enemy."

In 2010, Manning turned over more than 700,000 classified files, battlefield videos and diplomatic cables to WikiLeaks, the pro transparency website, in a case that has commanded international attention.

Defense attorneys had not made a specific sentencing request but pleaded with Lind not to "rob him of his youth."

Manning was working as a low-level intelligence analyst in Baghdad when he handed over the documents, catapulting WikiLeaks and its founder, Julian Assange, into the international spotlight.

The classified material that shocked many around the world included a 2007 gunsight video of a U.S. Apache helicopter firing at suspected insurgents in Baghdad. Among the dozen fatalities were two Reuters news staff. WikiLeaks dubbed the footage "Collateral Murder."

KEEPING SECRETS

The case highlighted the difficulty in keeping secrets in the Internet age. It raised strong passions on the part of the U.S. government, which said Manning had put American lives at risk, and anti-secrecy advocates, who maintained Manning was justified in releasing the information.

During a pretrial hearing, Lind had determined that the eventual sentence would be reduced by 112 days because of harsh treatment after his arrest in 2010. He likely will be imprisoned at the U.S. Disciplinary Barracks at Fort Leavenworth, Kansas.

A U.S. rights group has said Manning should be a candidate for this year's Nobel Peace Prize.

Human rights group Amnesty International called on U.S. President Barack Obama to commute Manning's sentence.

"Instead of fighting tooth and nail to lock him up for the equivalent of several life sentences, the U.S. government should turn its attention to investigating and delivering justice for the serious human rights abuses committed by its officials in the name of countering terror," said Widney Brown, senior director of international law and policy at Amnesty International.

Manning's trial at Fort Meade, Maryland, home of the ultra-secret National Security Agency, wound down as U.S. officials sought the return of Edward Snowden. The former NSA contractor, who disclosed details of secret U.S. programs that included monitoring the telephone and Internet traffic of Americans, has been given temporary asylum in Russia.

The Guardian said on Tuesday that British authorities had forced the newspaper to destroy materials leaked by Snowden.

(Additional reporting by Jim Finkle; Editing by Scott Malone and Jeffrey Benkoe)

New Details Show Broader NSA Surveillance Reach - Wall Street Journal

Posted: 21 Aug 2013 07:38 AM PDT

Article Excerpt

WASHINGTON—The National Security Agency—which possesses only limited legal authority to spy on U.S. citizens—has built a surveillance network that covers more Americans' Internet communications than officials have publicly disclosed, current and former officials say.

The system has the capacity to reach roughly 75% of all U.S. Internet traffic in the hunt for foreign intelligence, including a wide array of communications by foreigners and Americans. In some cases, it retains the written content of emails sent between citizens within the U.S. and also filters domestic phone calls made with Internet technology, these people say.

The NSA's filtering, carried out with telecom ...

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Selasa, 20 Ogos 2013

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US stocks higher on earnings news

Posted: 20 Aug 2013 04:33 PM PDT

NEW YORK: US stocks on Tuesday closed mostly higher following some solid retail earnings reports.

The Dow Jones Industrial Average fell 7.75 points (0.05 percent) to 15,002.99. The broad-based S&P 500 gained 6.29 points (0.38 percent) at 1,652.35, while the tech-rich Nasdaq Composite Index rose 24.50 points (0.68 percent) to 3,613.59.

All three indices had fallen over the prior four sessions. But analysts cited strong earnings reports Tuesday from Home Depot, Best Buy and others as giving the market "a reason to rally," as Brent Schutte of BMO Private Bank put it.

Additionally, stocks got help from bond yields, which retreated from recent peaks.

Dow component Home Depot opened higher, but fell 1.2 percent after earnings gained 17.2 percent and the company raised its full-year forecast on the strength of the housing recovery.

However, the company's upgraded full-year earnings forecast of US$3.60 per share still lags analyst expectations by four cents.

Netflix jumped 5.2 percent after announcing a contract to exclusively stream the Weinstein Company's first-run films starting in 2016.

Best Buy shot up 13.2 percent after earnings of 32 cents per share exceeded analyst expectations by 20 cents.

Credit Suisse said the report was evidence Best Buy "is moving in the right direction and that management's ambitious plans are beginning to translate into better results."

Troubled department store operator JC Penney rose 6.0 percent despite reporting a loss of US$586 million compared with last year's loss of US$147 million on lower-than-expected revenues. On the positive side, the company saw sequential sales improvement through the quarter and expects to see a continued rise in the second half of the year.

Bookseller Barnes & Noble sank 16.3 percent after reporting an US$87 million loss for the quarter on lower-than-expected revenues. Comparable store sales declined 9.1 percent. It said chairman Leonard Riggio had suspended a plan to acquire the company's retail business.

Popular garment chain Urban Outfitters rose 8.2 percent after profits exceeded expectations by three cents at 51 cents per share. -- AFP

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College baseball player Chris Lane killed by 'bored' teens in Oklahoma - Toronto Sun

Posted: 20 Aug 2013 08:26 AM PDT

Chris Lane
Chris Lane headshot. (ECUTigers.com)

Police allege the life of a 22-year-old collegiate athlete was taken Friday by three teenagers who "just wanted to see somebody die."

While jogging down a rural Oklahoma road, Chris Lane, a catcher on East Central University's men's baseball team, was killed in a drive-by shooting. Police allege a trio of teens, aged 15, 16, and 17, are responsible.

Lane was shot in the back and left to die on the side of the Duncan, Okla., road.

"They were bored and just wanted to see somebody die," Duncan police chief Danny Ford told ABC News.

It appears Lane, who police say was visiting his girlfriend at the time, did not know the accused. He died shortly after arriving at a local hospital.

The teens have been charged with first-degree murder.

Police say there were no witnesses to the murder, but nearby residents heard a gunshot and saw a black car speeding down the street.

Thanks to video surveillance footage from local businesses, police were able to support the residents' claim that a black vehicle was transporting the supposed killers. Footage showed the vehicle pull behind a hotel for about 10 minutes following the shooting, and then driving away.

Approximately three hours later, police received a call reporting the presence of "three juveniles at a house with guns and wanting to kill somebody."

The three teens were found shortly thereafter.

Interviews with police, Ford said, revealed the 16-year-old pulled the trigger, while the 17-year-old drove the vehicle.

East Central's website lists Lane's hometown as Melbourne, Australia. He was studying finance at the Ada, Okla., school after transferring from nearby Redlands Junior College.

"He was an athlete going for a jog like he would do five or six days a week," Ford said of Lane and the shocking murder. "It's wrong and we just try and deal with it the best we can."

Egypt's crackdown weakens, but does not crush resilient Muslim Brotherhood - Jerusalem Post

Posted: 20 Aug 2013 08:20 AM PDT

A supporter of the Muslim Brotherhood at Giza Square, south of Cairo, August 19, 2013. Photo: REUTERS

Until Monday night, Farid Ismail was one of the few Muslim Brotherhood leaders who still answered his phone, even when many of his associates had been arrested or gone underground.

By Tuesday morning Ismail was nowhere to be found after the authorities seized the group's chief, Mohamed Badie, overnight.

The army seems determined to decapitate the Middle East's oldest and arguably most resilient Islamist movement, to prevent it from preparing a political comeback after President Mohamed Morsi, one of its senior leaders, was ousted on July 3.

Badie's arrest means the Brotherhood's most experienced and respected leaders are now behind bars. Others such as Ismail, if he remains free, must now be focused on staying out of jail.

The military's strategy appears clear: remove the top of a pyramid-shaped organization in hopes that the rest will crumble.

Brotherhood members take their orders from the 120-member consultative Shura Council and 18-member Guidance Office, which send directives down via several layers of deputies.

The army's disruption tactics have already paid dividends.

The Brotherhood, which for six weeks managed to keep large protest camps going in Cairo to demand Morsi's reinstatement, is now struggling to get people onto the streets. The authorities, meanwhile, have tightened their grip with dusk-to-dawn curfews.

"To some extent they have succeeded. Turnout in the street is low," said Khalil Anani, an expert on Islamic movements. "For the short term the Brotherhood has received a major blow."

The army-backed administration has indicated it will show no mercy, taking a much tougher line than most past Egyptian governments. The Brotherhood saw its leaders and members locked up over decades, but it never faced such a wave of bloodshed.

DEMONIZING THE BROTHERHOOD

Security forces killed hundreds of people, forcibly evicting Islamist protesters from the sit-ins on Aug. 14. More died two days later during a Brotherhood "Day of Rage".

A spokesman for a pro-Brotherhood alliance said the total death toll among Morsi supporters was about 1,400, considerably higher than an official figure of about 900 dead in the past week, including around 100 soldiers and police.

The army has worked overtime to cast the Brotherhood as a terrorist group, a narrative that suggests the crackdown won't end any time soon. Humiliation seems to be part of the strategy.

Footage shown on local media within hours of Badie's arrest showed the bearded leader sitting grim-faced on a sofa in a grey robe, hands folded, while a man with a rifle stands by.

The general calling the shots, army chief Abdel Fattah al-Sisi, has taken a more aggressive line against the Brotherhood than Egypt's previous military-backed rulers. He has won wide public support for what he calls a campaign against terrorism.

But it is not clear whether Sisi's heavy-handed campaign can succeed in the long term.

The Brotherhood has long experience of pressure. Its leaders have endured hardship in jail and bouts of persecution under former President Gamal Abdel Nasser and his successors.

In veteran strongman Hosni Mubarak's era, the then-banned Brotherhood also felt a great deal of heat from the state.

The movement's Freedom and Justice Party newspaper reported that Mahmoud Ezzat, a former deputy to Badie, had been named temporary leader, suggesting that a contingency plan had already been prepared in case the top man was rounded up.

Ezzat, a Brotherhood member since his childhood, is viewed as one of the most influential people in the organization.

Sitting in a Cairo coffee shop, Nidal Sakr, a Brotherhood political strategist, glanced at a news program about Badie.

"This is nothing new. We have seen it all before," he said, estimating that the authorities had arrested more than 3,000 middle- and lower-ranking Brotherhood leaders across Egypt.

CHARITY INFRASTRUCTURE

Sakr predicted that the Brotherhood would survive the latest blow, and make it back to politics within two or three years, because it would adjust, as it always has.

One key to its survival, he said, may be its vast and highly organized social welfare networks that made it popular in Egypt.

If those institutions remain intact, the Brotherhood may be able to weather state harassment in the long term.

"The organization is based on social relationships with families, neighbors, schools, hospitals, institutions and orphanages," said Sakr.

"If you want to approach the Brotherhood you have to approach society," he said. "In the organizational sense it can be halted. But you cannot take it out of society."

The Brotherhood will surely bank on its tightly-knit structures to survive the onslaught from security forces. Regaining public confidence is another challenge altogether.

Morsi's year in office convinced many Egyptians that the group was mostly interested in monopolizing power. His failure to fix the fragile economy also eroded the movement's appeal.

"People now don't accept speeches from Muslim Brotherhood leaders who are not in prison. Not one of them can walk the streets safely," said former Brotherhood official Kamal Helbawy.

The army is trying to capitalize on the public mood, and while security measures may keep the Brotherhood on the defensive, the strategy may ultimately backfire.

Without calls for restraint coming from senior leaders like Badie, a younger Brotherhood generation may be tempted to seek revenge as the army and security forces keep pushing.

"There is a fierce debate on whether they should resort to force," said Anani, adding that Islamist groups allied with the Brotherhood may also turn violent against the state.

"Say there are one million Islamists and 10 percent of them have guns. You are talking about 100,000 weapons."

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Isnin, 19 Ogos 2013

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KL shares open lower

Posted: 19 Aug 2013 07:02 PM PDT

Bursa Malaysia opened lower Tuesday, weighed by weaker sentiment in regional equity markets.

At 9.11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 14.7 points lower at 1,763.66, after opening 4.51 points easier at 1,773.85.

Japan's Nikkei 225 was 0.65 per cent lower at 13,668.06 and Hong Kong's Hang Seng Index fell 0.24 per cent to 22,463.70.

Nearer to home, Singapore's Straits Times Index shed 0.49 per cent to 3,157.75.

Facing external headwinds, Malaysian equities are set to come under renewed selling pressures today, said HwangDBS Vickers Research in a note today.

It said the FBM KLCI may pull back further from the
support-turned-resistance level of 1,785 with the next support line currently seen at 1,750.

"In particular, sentiment will likely be hit by an overnight drop on Wall Street," added HwangDBS.

Key US bellwethers slid between 0.4 per cent and 0.6 per cent last night amid continuous concerns of a monetary stimulus tapering .by the Federal Reserve anytime soon.

Index-linked stocks, Maybank and CIMB which contributed 4.3 per cent to the index, lost 16 sen to RM10.28 and 13 sen to RM7.77.

On the scoreboard, the Finance Index erased 151.89 points to 16,763.96, the Plantation index fell 52.64 points to 8,236.72 and the Industrial Index eased 24.22 points to 2,980.39.

The FBM Emas Index fell 82.41 points to 12,327.76, the FBM100 Index gave up 82.59 points to 12,050.32 and the FBM 70 Index shed 23.88 points to 14,225.46.

Losers outpaced gainers 212 to 67, with 158 counters unchanged, 1,148 untraded and 11 others were suspended.

Turnover totalled 167.208 million shares worth RM116.258 million.

Among actives, Daya Materials edged up half-a-sen to 36 sen, Luster Industries, China Stationery and Flonic Hi-Tec were flat at 10 sen, 25.5 sen and 20 sen, respectively.

Malaysian Airline slipped half-a-sen to 35.5 sen, Maxis was flat at RM7.20 but Axiata slipped five sen to RM6.85, Sime Darby declined three sen to RM9.46 and Petronas Chemicals eased two sen to RM6.60.-- Bernama

Ringgit opens lower against US dollar

Posted: 19 Aug 2013 07:04 PM PDT

The ringgit opened lower against the US dollar in early trading today, in line with emerging currencies, a dealer said.

The ringgit fell against the US dollar to 3.2950/2980 from 3.2845/2875 yesterday.

The dealer said the strengthening of the greenback, boosted by high US Treasury yields, shifted investors appetite towards the US dollar.

"US benchmark bond yields hit a two-year high of nearly three per cent yesterday," he added.

The local currency was traded mostly lower against other major currencies.

It rose against the Singapore dollar to 2.5754/5782 from 2.5763/5798 yesterday but fell against the yen to 3.3729/3763 from 3.3629/3663 on Monday.

The ringgit was lower against the British pound at 5.1550/1610 from 5.1386/1440 yesterday and eased against the euro to 4.3939/3985 from 4.3769/3816 on Monday.-- Bernama

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