Talk only....

Sometimes if you have nothing to say, say nothing at all! People may buy "talk" only news for the first time of hearing it but if such similar talks continued with no positive results, such talks become just talk only. After dazzling investors with the "talk" of potential tie-up with Chicago Mercantile Exchange("still no news until now?) last year, Bursa Malaysia is said to be talking with stock exchanges in SEA, Europe and the US to form an alliance to increase the number of sites where contracts are available for trade. Big ideas, where are the action plans? My advise: Do well within yourself, people will then take notice even if they are far far away!

BT/Bloomberg: Bursa Malaysia Bhd, operator of the nation's stock exchange, said it's talking to several rivals for an alliance as slowing economic growth erodes trading income. "We're talking to a huge number of exchanges in our network," chief operating officer Omar Merican said in an interview with Bloomberg Television in Singapore yesterday. "Most exchanges have found that they're not immune from the financial conditions that are taking place right now." Talks are aimed at collaborations in Southeast Asia to increase the number of sites where contracts are available for trade, said Omar. Other discussions are with European and US exchange owners, he said, without naming any potential partners. Bursa said last December a partnership with CME Group Inc of Chicago may take months to resolve, and in April the company said it's "optimistic" about talks with CME and NYSE Euronext.

Meanwhile, slowing economic expansion and political turmoil at home is weighing on Bursa's earnings. The political tension has deterred investors and the number of shares bought and sold each day on Malaysia's benchmark index is about a third of the total at this time a year ago. Net income at Bursa dropped 56 per cent to RM28.6 million in the quarter ended June. Bursa shares have fallen 54 per cent this year, more than double the 26 per cent decline in the benchmark Malaysian index. The stock yesterday added 0.8 per cent to RM6.60 at the close.

Growth in Malaysia's US$151 billion (RM521 billion) economy will slow to 5.7 per cent this year and 5.4 per cent in 2009, the government forecasts. The economy expanded 6.3 per cent in 2007.

Computer glitches haven't helped. Derivatives trading on Kuala Lumpur's stock exchange was halted in the morning session yesterday after a technical fault. Equity trading was suspended for a day on July 3 after a systems failure.

* Will they be the laughing stock in Taiwan? Can't wait to get news and pictures of our MPs in Taiwan learning more about "agriculture" and "karaoke". Picture above -President Ma and Lee Hom singing together.

* BT: Bank Negara intevened the ringgit at 3.462 today. The ringgit went to a low of 1USD: 3.47

* Bloomberg: Oil rises after OPEC President calls for members to stop over production and match output to the group's set limits.

* BT: According to HLebroking yesterday, a total of RM125b of funds flowed out in the 1st half of the year due to domestic political uncertainties and high inflation.( 2007: RM92.3b)

* Bloomberg: Lehman in trouble after Korean Development Bank snubbed it. Any more bidders?

* Bloomberg: Inflation tamed already in China? China's August CPI was at 4.9% (July 6.3%) The PPI is however at a stubornly high reading of 10.1% (July 10%). August's trade surplus is at USD28.7b. The total surplus this 8 months to date is USD152b or down about 6% compared with the same period last year.