Market News - 18 Aug 2009

U.S. and European Market Roundup

• The DJIA down 186.06 points to 9,135.34 points.
• U.S stocks suffered their worst loss in seven weeks on Monday as weak data from Japan dampened hopes about the economy's growth.
• European shares fell to their lowest close in more than two weeks on Monday, as investors took profits, worrying that a recent rally was not supported by economic data.

Macro and Corporate New

• Pos Malaysia's net profit for the second quarter to June 30 this year eased marginally to RM15.9 mln from RM16.6 mln a year ago while revenue, however, rose to RM227.3 mln from RM223.2 mln in the same quarter in 2008.
• Alliance Financial Group's net profit dropped by more than half in its fiscal first-quarter, due to lower operating profit, higher allowance for losses on loans and higher provision for impairment on an investment security.