Kenanga Research has upgraded its rating for Sunway Bhd to “outperform” with a higher target price of RM1.68, following the market recovery, as the recent share price weakness presents an “accumulation opportunity”.

Kenanga Research upgrades Sunway, raises target price to RM1.68 as it ups FY20 earnings projection

The FBM KLCI has risen 18.83 points or 1.21% to a four-and-a-half-month high at 1,575.16 points as the country’s short-term economic recovery plan and the recovery phase of the movement control order, which starts tomorrow, spurred investor optimism.

M'sia the best performing market in Asean, KLCI at four-month high 

Being one of the world’s best performing benchmark index component stocks thus far and even after more than tripling its share price since the beginning of this year, Top Glove Corp Bhd remains as the favourite among research firms.

It's still a screaming buy for Top Glove as it prepares for more bumper results

Mirroring the overnight performance of Wall Street, equities around the globe — including the FBM KLCI — slumped into a sea of red as the negative sentiment in the US spilt over into the rest of the markets.

FBM KLCI down on profit taking, joins other indices in the red on weak sentiment

Top Glove Corp Bhd, one of the world’s best performing benchmark index component stocks, made a record high net profit of RM347.9 million in the third financial quarter ended May 31, 2020 (3QFY20) — a quantum leap from RM74.67 million a year ago.

Exponential growth yet to peak, says Top Glove

The craze for glove stocks has cooled down as the second wave of equity rout sweeps across the globe. All glove counters listed on Bursa Malaysia are down, except for Top Glove Corp Bhd, which managed to claw back to the positive territory after it started on a soft note.

Glove makers lose ground to global rout, but Top Glove remains steady

Top Glove Corp Bhd has recorded its best-ever quarterly net profit at RM347.9 million in the third quarter ended May 31, 2020 (3QFY20), which more than quadrupled from RM74.67 million last year.

Selling on Top Glove continues right before quarterly earnings announcement later

After being in the red for the most part of today’s trading session, the FBM KLCI closed marginally higher on late buying of selected counters.

The benchmark index closed 0.11 point or 0.1% up at 1,575.16.

KLCI reverses loss at eleventh hour to close marginally higher

Top Glove Corp Bhd, whose share price has more than tripled year to date, ascended to fresh peak at RM17.20 in early morning trade. But selling pressure started to surface soon after that, indicating investors are holding the horses ahead of its quarterly result announcement tomorrow.

Selling on Top Glove surfaces ahead of quarterly earnings

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor apologised to Prime Minister Datuk Seri Anwar Ibrahim and Cabinet ministers who attended the state-level Madani Aidilfitri celebration on Saturday night.

Kedah MB apologises to Anwar, Cabinet over ‘inappropriate remarks’

The federal government has agreed in principle to proposals to convert agricultural land within the Muda Agricultural Development Authority (Mada) area for industrial and commercial development.

Anwar says nod given to conversion of Mada land for industrial, commercial development 

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

Yellen counsels caution on currency intervention after yen surge

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Labour mayor wins cap triumphant election run for Starmer

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

Paytm appoints new executives as COO resigns

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

Warren Buffett says taxes may rise to offset widening US deficits

Warren Buffett assured Berkshire Hathaway shareholders on Saturday that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker.

Buffett says Berkshire in good hands, lauds Apple despite lowering stake

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Ping An votes against reappointment of HSBC CEO as director — Reuters

Mathew Ngau Jau is not a fan of hectic city life, though there is certainly something to smile about as he visits Kuala Lumpur this week for a very special recognition at the 19th Boh Cameronian Arts Awards (BCAA).

Treasure of Borneo

In the May 6 issues of City & Country, the cover story features Eastern & Oriental Bhd’s (E&O) Andaman Island in Penang. The reclaimed island project is taking shape and will come in two phases. Phase one covers 253 acres, while phase two will cover 507 acres. Reclamation work for phase one started in 2015 and was completed in December 2019. Work on phase two is ongoing, with the entire reclamation exercise set to be completed by December 2028.

Developing community living sustainably