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Asia Day Ahead: Earnings in Malaysia, Philippines GDP data


The Asia trading day ahead this Thursday (May 29) is yet again dominated by earnings, with several key corporates worth watching. To Malaysia first.

Where Sime Darby is expected to report its latest quarterly results.

The state-linked firm controls the world's largest palm oil land bank so it should benefit directly from what Moody sees as increased South East Asian demand for biodiesel,

Malaysia's Maybank is also due to release its quarterly earnings.

The country's largest bank could see flat profits on challenging market conditions in Indonesia.

On the auto front, India's Tata Motors reports its results as well.

While its Jaguar Land Rover brand may have recovered nicely, at home it's suffered significant market share and sales declines.

That may be in part why the firm's shares have just lost the premium they commanded over the broader Sensex benchmark index for most of 2014.

Finally, in the economic spotlight -- the Philippines is due to report its first quarter GDP growth.

The consensus forecast is 6.4 percent which would mark the 9th consecutive quarter it has come in above the 6 percent mark.

Strong private consumption and post-typhoon reconstruction efforts will likely continue to set the Philippines apart from its peers with the fastest growth in the region.

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