<div class=newsTextDataWrapInner>KUALA LUMPUR (March 18): RHB Retail Research said Dialog Group Bhd is set to retest the high of February, as it breached the immediate resistance of RM2.75 – registering a “higher high” bullish pattern above the 21-day average line.</div>

<div class=newsTextDataWrapInner>In a trading stocks note on Friday (March 17), the research house said bullish momentum above that level may see the stock climbing towards the next resistance level of RM2.92 (the high of February), followed by RM3.06 (the high of October 2021).</div>

<div class=newsTextDataWrapInner>“In the event that it falls below the support of RM2.65, the momentum may turn negative, forming a 'lower low' bearish structure,” it said.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

RHB Retail Research said Dialog Group Bhd is set to retest the high of February, as it breached the immediate resistance of RM2.75 – registering a “higher high” bullish pattern above the 21-day average line.

Dialog set to retest high of February, says RHB Retail Research 

Oil rose, tracking equity markets, as traders digested competing narratives on how Donald Trump’s presidency will affect the crude market. 

West Texas Intermediate advanced 0.9% to settle above $72 a barrel, helped by the weakening dollar and climbing equities.

Oil rises as traders dissect production, geopolitics under Trump

Federal Reserve Chair Jerome Powell said he would not resign from his role if asked to do so by a re-elected Donald Trump, following the Fed’s decision Thursday to lower interest rates by a quarter percentage point. 

When asked at a post-meeting press conference whether he would step down if requested by Trump, Powell replied forcefully, “No.”

Fed cuts rates; Powell says wouldn’t resign if asked by Trump

Stocks hit fresh all-time highs, climbing alongside bonds and commodities, in a concerted cross-asset advance that by one measure was the best for a Federal Reserve day in 2024.

Equities extended their post-election rally, with the S&P 500 approaching 6,000 and notching its 49th record this year.

Wall Street has best Fed day of 2024 across assets

Americans are coming to terms with renting as an alternative to an increasingly unaffordable market for homebuyers.
 
The share of respondents who say they’d rent if they were going to move rose to a record 36% in a new survey by Fannie Mae, the government-backed mortgage finance giant.

Americans prefer to rent with market beyond reach of homebuyers

Human capital management provider Ramssol Group Bhd (KL:RAMSSOL) said its 51%-owned subsidiary in Thailand has secured a contract worth 275 million baht (RM35.61 million) to undertake an artificial intelligence (AI) healthcare solutions project for a hospital.

Ramssol’s unit bags RM36 mil AI-powered healthcare project in Thailand

Donald Trump should call President Vladimir Putin to open up a line of communications with Russia and ultimately push towards a ceasefire in Ukraine, Hungarian Prime Minister Viktor Orban’s top aide said.

Trump should call Putin to push Ukraine peace, says Orban aide 

Under Armour Inc reported results that surpassed analysts’ expectations as the sportswear company’s turnaround gains momentum under founder Kevin Plank.
 
In the second quarter, which went through September, sales and adjusted earnings topped the average estimate from analysts.

Under Armour surges as turnaround led by founder gains steam

Carlyle Group Inc top boss Harvey Schwartz said the clear outcome to the presidential election will give corporate chiefs and investors more security to make big decisions and do more deals.
 
“Being past the election has removed market uncertainty,” Carlyle’s chief executive officer said on an analyst call on Thursday, after the firm reported its third-quarter financial results.

Carlyle CEO says swift US election results will recharge dealmaking

The head of HSBC Holdings plc’s new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring “very quickly” and could announce the first round of job cuts within weeks.

HSBC’s Roberts says first round of job losses coming in weeks

The number of Americans filing new applications for unemployment benefits rose slightly last week, suggesting no material change in the labour market and reinforcing views that hurricanes and strikes had resulted in job growth almost stalling in October.

US weekly jobless claims increase marginally; unit labour costs growth strong

SINGAPORE (Nov 7): Genting Singapore has reported a net profit after taxation (NPAT) of S$79.4 million (RM263.36 million) for its 3QFY2024 ended Sept 30, 2024, 63% lower year-on-year (y-o-y) and 27% lower quarter-on-quarter (q-o-q), amid the slower recovery of international visitor arrivals to Singapore.

Genting Singapore’s 3QFY2024 net profit after taxation at S$79.4m, 63% lower y-o-y

A federal lawmaker from Sabah has alleged that one of the packages under the Pan Borneo Highway project in the state involved "multiple levels of subcontracting" and wants Putrajaya to terminate the contractor.

Sabah MP alleges 'multiple levels of subcontracting' in Pan Borneo Highway project

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

Ekovest, Eco World, Mah Sing, Pentamaster, Sentral REIT, KKB Engineering, Microlink, FGV, Southern Steel 

TMK Chemical Bhd said it has signed a retail underwriting agreement with Maybank Investment Bank Bhd in conjunction with the chemical company's initial public offering (IPO) on the Main Market of Bursa Malaysia.

TMK Chemical inks underwriting deal with Maybank for Main Market IPO

Road infrastructure construction firm Azam Jaya Holdings Bhd (KL:AZAMJAYA), set to list on the Main Market of Bursa Malaysia next Monday (Nov 11), reported a net profit of RM4.65 million or 0.93 sen per share for its second quarter ended June 30, 2024 (2QFY2024).

Construction firm Azam Jaya posts RM4.65 mil profit in 2Q ahead of listing

The Malaysian Anti-Corruption Commission (MACC) has found several suspicious transactions in an investigation into investment losses of RM43.9 million in FashionValet Sdn Bhd.

MACC spots suspicious transactions in probe into FashionValet investment loss

Falling interest rates in advanced economies will be positive for the ringgit at a time when Malaysia keeps its policy rate unchanged while the economic fundamentals remain healthy, said Bank Negara Malaysia (BNM).

Narrowing interest rate differentials positive for ringgit, backed by solid economic prospects — BNM

The US Federal Reserve (Fed) is expected to reduce its benchmark policy rate by a quarter of a percentage point at the end of its policy meeting on Thursday, a decision that may seem a footnote given the uncertain economic terrain the central bank may soon be navigating under a second Trump administration.

Fed to cut rates, but with a new landscape to decipher after Trump win

Pentamaster Corp Bhd (KL:PENTA) said its third quarter net profit fall 49.9% to RM11.77 million, from RM23.49 million a year ago, dragged down by lower automated test equipment (ATE) sales performance and foreign exchange losses.

Pentamaster’s 3Q profit halves on lower auto-related sales, forex losses

Southern Steel Bhd (KL:SSTEEL) said it has settled its legal dispute over the construction of a hot rolled coils (HRC) plant with Italian plant builder Danieli &amp; C Officine Meccaniche SpA, which started in August 2016.

Southern Steel reaches RM187m settlement with Italian plant builder

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Software company Microlink Solutions Bhd (KL:MICROLN) on Thursday said it has secured a RM83.51 million contract from the Ministry of Home Affairs (KDN) to develop and supply an advanced passenger screening system for the Immigration Department.

Microlink bags RM84 mil contract to develop screening system for Immigration Department

Prime Minister Datuk Seri Anwar Ibrahim reaffirmed Malaysia's commitment to strengthening collaboration with China, emphasising both trade and broader global objectives.

Anwar: Malaysia committed to strengthening collaboration with China beyond trade

Vegetable supplier Farm Price Holdings Bhd (KL:FPHB), which was listed on the ACE Market of Bursa Malaysia on May 14, has proposed to undertake a bonus issue of up to 225 million warrants on the basis of one warrant for every two shares held by shareholders.

Farm Price proposes one-for-two bonus issue of warrants

FGV Holdings Bhd (KL:FGV) on Thursday said its indirect subsidiary FGV Bulkers Sdn Bhd is being sued for allegedly breaching an agreement for the supply of palm kernel shells.

FGV’s unit sued over alleged breach of supply agreement

Looming large in the hours between Donald Trump’s election victory and the late-night collapse of Germany’s government is a crisis of competitiveness that has sapped life from Europe’s largest economy.

The €650 bil exodus at the heart of Germany's turmoil

The US stocks rally is nowhere near done, according to Evercore ISI strategists, who see Donald Trump’s plans to slice through red tape propelling the S&amp;P 500 Index another 11% through the middle of next year.

The bull market in US stocks is just starting, Evercore says

Kumpulan Jetson Bhd (KL:JETSON), which is being sued by OCR Group Bhd (KL:OCR) over alleged breaches of an RM88.03 million contract to build four blocks of serviced apartments in Jalan Yap Kwan Seng here, said on Thursday it is not a party to the disputed contract under OCR's suit as Jetson Construction Sdn Bhd (JCSB) — which was contracted to undertake the job — is no longer its subsidiary.

Kumpulan Jetson says it is not a party to disputed contract under OCR’s RM88 mil suit

Inflation concerns and worries about increasing Bund supply after the government collapse in Germany triggered a sharp rise in euro area yields and led Germany's 10-year swap spread to hit its lowest level more than 20 years.

Germany’s 10-year swap spread hits lowest in 20 years as government collapses

The Bank of England (BOE) cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual as it predicted the British government's first budget would lead to higher inflation and economic growth.