Gold slides as Swiss support for referendum wanes

Gold retreated on reports Wednesday that support for a Swiss referendum to require the country’s central bank to hold 20% of its reserves in gold bullions is losing momentum.
Gold for December delivery GCZ4, -1.34%  slid $3.20 to settle at 1,193.90 an ounce. In electronic trading, gold had slumped as low as $1,173.90 an ounce before bouncing back.

Current Market Update

Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average) up 0.2% 

 Hong Kong (Hang Seng Index) up 0.1% 

 Shanghai (Shanghai Composite Index) down 0.1% (at break) 

 Sydney (S&P/ASX 200) down 0.6% 

 Seoul (Kospi) down 0.6% 

 Mumbai (Sensex) flat ; Taipei (Taiex) up 1.1%

Asian Market Update

Asian markets mostly fell on Thursday after another round of weak manufacturing data underlined the slowdown in China's economy while minutes from the US Federal Reserve's latest meeting gave few hints about its plans for interest rates.

Further losses in the yen to multi-year lows against the dollar and euro were not enough to lift Tokyo's Nikkei after this week's surprise news that Japan had slipped into recession.

Tokyo was flat, Hong Kong edged up 0.10 per cent, Shanghai eased 0.15 per cent and Seoul was 0.61 per cent lower, while Sydney lost 0.36 per cent.

KLSE Malaysia Opening Market Update

MALAYSIA share prices opened flat on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.67 points to 1824.66.

Volume was 62.26 million lots worth RM19.79 million.

Gainers outnumbered losers 96 to 49.

KLSE Stock Recommendations

MARKET UPDATES :

TSH Resources Bhd’s pre-tax profit for the third quarter ended Sept 30, 2014 fell to RM33.65 million from RM76.11 million in the same period last year. Revenue grew to RM246.95 million from RM220.48 million.In a filing to Bursa Malaysia, the company said for the quarter underreview, its wood product segment achieved a lower revenue of RM12.6 million and higher operating loss mainly due to lower export.

STOCK RECOMMENDATION :

BUY PPB GROUP Bhd ABOVE 15.08 TGT 15.18 ,15.30 SL 15