Inter-Pacific Securities Sdn Bhd said the FBM KLCI’s technical indicators remain overbought, and this could extend the downside pressure on these constituents.

In its daily bulletin on Thursday, the research house said the KLCI ended its upward streak on Wednesday as profit-taking activities set in to send the key index lower.

KLCI’s technical indicators remain overbought, says Inter-Pacific

Hong Leong Investment Bank (HLIB) Research said in the near term, the FBM KLCI is expected to remain choppy (support: 1,500-1,520), as investors weigh the ongoing February reporting season, a delay the US Federal Reserve’s rate-cut trajectory, and the sustainability of the Shanghai Composite Index’s recent rebound.

KLCI expected to remain choppy in near term, says HLIB Research

The return of foreign funds to the region is expected to provide a fillip to Bursa Malaysia next week, as buying momentum for domestic equities persists on renewed optimism.

Foreign funds expected to boost Bursa in coming week

Bursa Malaysia is expected to continue its positive momentum next week, amid cautious sentiment on regional and global markets, dealers said.

Bursa expected to continue upbeat momentum in coming week

The uptrend momentum on Bursa Malaysia is expected to continue next week, with traders remaining cautiously optimistic over external developments.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the brokerage firm has maintained its positive outlook, supported by attractive valuations, increase in investor confidence gauging from the higher average daily trading volume and strong foreign buying.

Bursa's rally may continue next week, FBM KLCI seen to stay above 1,500

Bursa Malaysia is expected to stay in consolidation mode, with a slight positive bias next week, and the benchmark index is seen as hovering in the 1,475-1,495 range.

Bursa expected to stay in consolidation mode next week

Asian stocks were set to follow a selloff on Wall Street, with bond yields rising as traders comb through remarks from a slew of Federal Reserve officials and await Jerome Powell’s speech for clues on the interest-rate outlook.

Equity futures for Japan, Hong Kong and Australia pointed to declines after the S&P 500 almost wiped out its weekly advance, while losses in the Nasdaq 100 topped 2%. Treasury two-year yields, which are more sensitive to imminent policy moves, climbed above 5%. The greenback advanced against all of its G-10 peers on Thursday (Aug 24), with the Australian and New Zealand dollars falling the most in more than three weeks.

Asian stocks to follow US drop before Powell speech

KUALA LUMPUR (April 1): Interest for beaten down counters is set to boost Bursa Malaysia’s performance with the main index expected to trade within the 1,420-1,440 level next week, said Rakuten Trade Sdn Bhd.

Bursa Malaysia's main index set to trade within 1,420-1,440 level next week

Bursa Malaysia is expected to trend higher next week amid easing inflationary pressure in the US and expectations for smaller interest rate hikes, said an analyst.

Bursa expected to trend higher next week

Bursa Malaysia is likely to trade sideways with a slightly upward bias within the 1,475-1,495 range next week. 

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investors will remain cautious due to increasing global market volatility.

Bursa to trade sideways with upward bias in coming week — Rakuten Trade

KUALA LUMPUR (Jan 3): Hong Leong IB Research expects 2023 to be a less stormy year for Bursa Malaysia (but certainly not a smooth journey), following a cumulative two-year loss of 8.2%.

In a traders’ brief on Tuesday (Jan 3), the research house said that currently, CY2023’s valuation is...

2023 to be less stormy year for Bursa Malaysia, says HLIB Research

Bursa Malaysia looks set to kick off the new year within the current level, with the FBM KLCI fluctuating in the 1,490 and 1,510 range.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects global funds to return to the Asia-Pacific region in 2023, and expects Malaysia to benefit from the spillover effect.

KLCI to begin 2023 within 1,490-1,510 range, may end year at 1,800 mark — Rakuten Trade

KUALA LUMPUR (Nov 22): Hong Leong Investment Bank Research (HLIB) said that as a hung parliament election outcome is unprecedented for Malaysia and the possibility of higher political risk premium and regulatory risks (due to the unexpected strong showing by PAS), the FBM KLCI may witness further...

FBM KLCI may witness further volatility ahead, says HLIB

KUALA LUMPUR (Nov 21): Inter-Pacific Research Sdn Bhd said that with no clear winner in the recently concluded elections, market conditions are likely to be volatile at the start of the week as the political impasse will leave investor sentiments wary

In its daily bulletin on Monday (No...

Impasse could see a knee jerk reaction to politically sensitive stocks, says Inter-Pacific 

The ruling coalition government is drafting a memorandum of understanding (MOU) to facilitate the channelling of fund allocations to Opposition MPs.

Putrajaya mulling MOU with Opposition to facilitate direct allocations

TikTok is heading to its moment of truth in Washington, with Congress on a fast track to approve a bill aimed at forcing the social-media platform’s Chinese parent ByteDance Ltdon  to divest its controversial ownership stake.

TikTok faces Washington reckoning as divest-or-ban vote gets closer

The new water tariff for domestic users in Perak has been set at 75 sen per cubic metre, compared with the previous 70 sen, effective May 1.

New water tariff for Perak users kicks in May 1 — MB's Office

Australian employment unexpectedly fell in March and the jobless rate edged higher, unwinding some of the huge upside surprise of the prior month and reflecting restrictive settings of monetary policy.

Australian jobs surprisingly fall, giving RBA scope for patience

Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.

Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.

Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

China Tianrui Group Cement Co said a sudden drop in its stock last week triggered a margin call involving a major shareholder, explaining the dynamic behind a dramatic plunge that wiped out nearly all of its market value.

Mystery stock crash in China cement maker linked to margin call

Las Vegas Sands Corp said renovations at an entertainment centre and a hotel in Macau will crimp results this year, sending the shares lower in extended trading.

The casino and resort company closed its Cotai Arena in January for US$200 million (RM957.49 million)in renovations.

Sands says US$200 mil renovations at Macau casino will affect results this year

Football managers were once as dispensable as autumn leaves. Manchester City — a very different club pre-takeover — had five, including two caretakers, in a single season and became the butt of jokes. One of them had chairman Francis Lee encountering an old lady struggling with her shopping bags....

Business Of Sports: Fix the team, not the garden: It’s time for off-the-field stars to bloom

Warren Buffett’s Berkshire Hathaway Inc priced ¥263.3 billion (RM8.2 billion) of bonds in the firm’s largest yen debt deal since its debut sale in the currency in 2019, raising bets it may boost holdings of Japanese stocks.

Berkshire sells ¥263.3b of bonds with tighter spreads

Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.

PIE Industrial extends rally to new all-time high as Kenanga flags new client

The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).

Malaysia's aviation industry at risk amid full-blown crisis in the Middle East — Maybank IB

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.

Google fires workers protesting US$1.2b Israeli contract

The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.

Singapore loses ‘world’s best airport’ crown to Qatar

The Unity Government Leadership Consultative Council meeting agreed that the government must act firmly and not compromise against extreme actions that can jeopardise the country’s stability.

Unity Government Secretariat chief Dr Asyraf Wajdi Dusuki said the matter was decided at Wednesday’s Unity Government Leadership Consultative Council meeting at Seri Perdana, Putrajaya.

Unity Govt meeting: No compromise on extreme actions that can jeopardise country’s stability

Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.

Asian stocks mixed as soaring dollar pauses

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.

Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

The stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.

S&P 500 suffers its longest slide since January

Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.

Analysts remain sanguine on IGB REIT’s prospects going forward

Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).

Stop buying gold ETF as prices may correct — Philip Capital

Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Mester says US Fed can hold rates steady, not in a hurry to cut

Asian central banks’ need for assertive defense of their currencies is driving traders to turn less dovish on monetary policies in the region.

Slower US Fed pivot weakens rate-cut bets across emerging Asia

The ringgit extended Wednesday’s gains to open higher against the US dollar on Thursday as the greenback retreated from multi-month highs after a pullback in US Treasury yields, said an analyst.&nbsp;

Ringgit extends gains against US dollar at opening

Bursa Malaysia opened slightly lower on Thursday but moved up thereafter. &nbsp;

Bursa turns positive in early trade after opening lower

RHB Retail Research said Marine &amp; General Bhd is set for an uptrend reversal after undergoing a bullish breakout above the 28 sen resistance on Wednesday, on strong trading volume.

Marine & General set for uptrend reversal, says RHB Retail Research 

Indonesia's economy was primed for monetary easing later this year, but an unwelcome plunge in its currency is complicating matters for Bank Indonesia and could force it to grudgingly raise rates as early as next week.

Market-preview

‌
‌

Market-preview

‌‌

‌
‌