<div class=newsTextDataWrapInner>KUALA LUMPUR (May 31): RHB Retail Research said Hengyuan Refining Company Bhd is set to rebound strongly towards the recent high as it bounced off its 21-day average line on strong volume — breaching above the RM6.60 mark.</div>

<div class=newsTextDataWrapInner>In a trading stocks note on Tuesday (May 31), the research house said if the buying interest persists, the stock may propel further towards the RM7.44 resistance, before reaching the recent high at RM7.70.</div>

<div class=newsTextDataWrapInner>“If it falls below the support level of RM6.03 — below the average line — the stock may trend downwards,” it said.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

KUALA LUMPUR (May 31): RHB Retail Research said Hengyuan Refining Company Bhd is set to rebound strongly towards the recent high as it bounced off its 21-day average line on strong volume — breaching above the RM6.60 mark.

In a trading stocks note on Tuesday (May 31), the research house...

Hengyuan set to rebound strongly, says RHB Retail Research

Mercedes-Benz on Tuesday vowed to steer clear of entering a discount race, saying it would defend high pricing levels for its luxury cars as model changeovers and supply chain bottlenecks caused quarterly profits to fall.

Mercedes-Benz to stay firm on pricing following 1Q profit drop

KUALA LUMPUR (April 30): theedgemalaysia.com highlighted five stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday. Three stocks showed positive momentum, while two stocks showed negative momentum.

The stocks with positive momentum were:

    Homer...

Homeritz, AWC, Marco, Oppstar, BPPlas

Global gold demand rose by 3% year-on-year to 1,238 metric tonnes in the first quarter of 2024, marking the strongest first quarter since 2016, due to active over-the-counter (OTC) trading, the World Gold Council (WGC) said on Tuesday.

Gold demand including OTC was at eight-year high in 1Q, WGC says 

KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.

Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

Indonesia is planning to offer dual citizenship to its skilled diaspora as part of efforts to stem a brain drain of local talent.

Indonesia plans to offer dual citizenship to halt brain drain

The number of foreign workers in Singapore fell for the first time in more than two years, largely driven by a slump in construction jobs as builders complied with rules requiring reduced dependency on non-residents.

Singapore’s foreign worker numbers dip first time in 10 quarters

Indonesia's Ruang volcano spewed "explosive" flows of incandescent lava into the night sky on Tuesday as lightning flashes dramatically lit up its crater, promoting authorities to raise the alert status and close a nearby airport.

Indonesia's Ruang volcano erupts again, alert status at highest

HSBC said on Tuesday its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.

HSBC chief executive Quinn announces surprise retirement

KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.

Sime Darby Plantation plans to change name to SD Guthrie

Elon Musk is thinning Tesla's senior management and laying off hundreds more employees, frustrated by falling sales and the pace of layoffs so far, The Information reported early Tuesday, citing an email sent by the CEO to senior executives.

Musk lays off Tesla senior executives in fresh job cuts — report

The Genting group companies' operations have recovered from the impact of the Covid-19 pandemic, and its earnings are expected to further grow, albeit more gradually, according to S&amp;P Global Ratings.

S&P: Genting's operations have recovered from impact of pandemic, earnings to further grow

MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.

MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.

Oppstar surges to five-month high after announcing Samsung tie-up

RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.

RHB sees glove makers recording positive q-o-q net profit growth in March earnings

The Malaysian Bar filed a judicial review application last Friday (April 26) to seek a declaration that the decision by the Federal Territories Pardons Board on Jan 29 to halve Datuk Seri Najib Razak's jail sentence from 12 years to six years and reduce the fine in his SRC International graft conviction from RM210 million to RM50 million is unconstitutional, void, and unlawful.

Malaysian Bar challenges Pardons Board decision to reduce Najib’s sentence

KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds two potential clones to Investor Alert List

KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM582,887, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.

Average KL price of new apartment hits RM582,887, surpasses national average — Juwai IQI

Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.

Ekuinas acquires 80% stake in pharma ingredients maker Symbiotica

China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.

China’s US Treasury holdings becoming ‘hostages,’ academic warns

It’s “better to ask for forgiveness than permission” when it comes to complying with the law, the billionaire founder of the Binance cryptocurrency exchange once told his team, according to the US government.

Binance and CZ’s fortunes are set to grow, jail or no jail 

Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.

HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

KUALA LUMPUR (April 30): Shares of Nestlé (Malaysia) Bhd (Nestlé Malaysia) rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.

Nestle Malaysia shares rise to eight-month high after 1Q results

Elon Musk’s net worth is soaring after it plunged to the lowest level in almost a year.

Musk’s fortune soars by most since before Twitter purchase

Microsoft will invest US$1.7 billion (RM8.1 billion) over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.

Microsoft to invest US$1.7b in cloud, AI in Indonesia, CEO says

Amy Wang was counting on a 100,000 yuan (RM65,743) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Still waiting for the money, she is yet to move in.

Strained Chinese cities struggle to pay home buying subsidies

HSBC said on Tuesday its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.

Samsung Electronics Co’s earnings surged after the semiconductor business returned to profitabilty for the first time since 2022, boosted by broad spending on artificial intelligence development.

Samsung’s profit surges after AI boom reverses chip losses 

Asian central bankers should tailor their policies based on domestic fundamentals instead of being too fixated on the US Federal Reserve’s interest rate trajectory, said IMF Asia-Pacific director Krishna Srinivasan.

IMF urges Asian central bankers to focus on domestic fundamentals, not get too fixated on US Fed policy

KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.