<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 11): RHB Retail Research said Magnum Bhd is rising higher after a recent correction and attempting to break out from the nearest resistance marked at RM2.20.</p></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note today, the research house said that the high volume emerged near the support level, indicating selling pressure was fully&nbsp;absorbed.</p></div>

<div class=newsTextDataWrapInner><p>“If the stock breaks out from the nearest resistance, expect it to trend higher towards the next hurdle of RM2.30, followed by RM2.40.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“A downside breach of the RM2.10 support would negate this expectation, and see a stock price correction,” it said.</p></div>


RHB Retail Research said Magnum Bhd is rising higher after a recent correction and attempting to break out from the nearest resistance marked at RM2.20.

Magnum rising higher after recent correction, says RHB Retail Research

Heavy selling in US stocks and bonds spread to Asia Thursday after the Federal Reserve trimmed expectations for rate cuts next year.

Equity futures for Japan, Australia and Hong Kong pointed to markets opening lower after the S&P 500 suffered its worst day since August and biggest loss the day of a Fed decision since 2001.

Stock, bond selling spreads to Asia after Fed cut

The Federal Reserve has spoken, and as far as investors are concerned, the message was clear - clearly hawkish. Now it's over to the Bank of Japan and Bank of England, the two biggest and most important of the clutch of central bank policy decisions on Thursday.

Fed's 'hawkish cut' slams markets, BOJ up next

Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin.

"We're not allowed to own bitcoin," Powell said at a press conference following the Fed's latest two-day policy meeting, in which policymakers cut rates as expected while signaling a less certain path for monetary policy in the months ahead.

Powell says Fed cannot hold bitcoin, not seeking to change that

The U.S. central bank lowered interest rates on Wednesday, but Federal Reserve Chair Jerome Powell said more reductions in borrowing costs hinge on further progress in lowering stubbornly high inflation, remarks that showed policymakers are beginning to reckon with the prospects for sweeping economic change under an incoming Trump administration.

Fed lowers rates but sees fewer cuts in 2025 due to stubbornly high inflation

The Federal Reserve did what markets expected Wednesday. But that didn’t stop investors from dumping risk assets in droves.

Stock sold off violently at the end of the session after the Fed cut interest rates by a quarter of a percentage point, its third straight reduction, and Chair Jerome Powell indicated that the central bank will likely put further reductions on hold while inflation stays above its 2% target.

Wall Street pros say fears of fewer Fed cuts sparking selloff

The Federal Reserve’s waning enthusiasm for rate cuts jarred US markets Wednesday, sending stocks lower and pushing Treasury yields and the dollar sharply higher. It was the worst loss for the S&P 500 on the day of a rate decision since 2001.

S&P 500 sees worst Fed day since 2001; yields up

The Malaysian Anti-Corruption Commission (MACC) in Penang has arrested an enforcement officer for allegedly soliciting a bribe of around RM80,000 from a woman.

According to an MACC source, the 40-something male suspect contacted the woman on Nov 30 following the arrest of her husband and demanded a bribe, claiming it was to help release her husband, who was detained under the Security Offences (Special Measures) Act (SOSMA 2012).

Penang MACC arrests enforcement officer for soliciting RM80,000 bribe

China and India took a further step towards easing their long-running border dispute on Wednesday, with senior officials holding formal talks for the first time in five years and committing to finding mutually acceptable solutions.

Chinese, Indian officials in talks to ease dispute over Himalayan border area

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

MRCB, Berjaya Corp, YTL Power, SD Guthrie, EcoWorld, Supermax, Scientex, YNH Property, T7 Global, PTT Synergy, RHB Bank, Ge-Shen, Aeon, Pestech, Quality Concrete, Advancecon

South Malaysia Industries (KL:SMI) insisted again on Wednesday that no extraordinary general meeting (EGM) of the company will take place on Jan 9,  amid ongoing clashes between two shareholder groups vying for control of SMI.

No EGM will be held until notice is issued and court rules on suits, says SMI

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.</p>


<p>Pestech International Bhd (KL:PESTECH), now a subsidiary of Dhaya Maju Infrastructure (Asia) Sdn Bhd, has proposed a scheme of arrangement involving a one-off upfront cash payment of RM65 million to settle its RM267 million outstanding debt.</p>


Pestech proposes scheme of arrangement to settle outstanding RM267m debt 

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EVENING 5: Five things you need to know today

<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Wednesday, said palm oil trader David Ng.</p>

<p>He said that CPO prices hit their lowest in a month due to mounting concerns over the implementation of the biodiesel B40 programme starting next month.</p>


CPO futures close lower amid concerns over B40 biodiesel implementation

<p>Transport Minister Anthony Loke has questioned the necessity of a Public Accounts Committee (PAC) investigation into the proposed 30-year electric train lease project, valued at RM10.7 billion.</p>

<p>He clarified that the project is still conceptual and no contract has been finalised.</p>


Loke questions need for PAC to probe RM10.7 bil electric train lease

<p data-component="paragraph">Heavy selling in US stocks and bonds spread to Asia Thursday after the Federal Reserve trimmed expectations for rate cuts next year.</p>

<p data-component="paragraph">Equity futures for Japan, Australia and Hong Kong pointed to markets opening lower after the S&amp;P 500 suffered its worst day since August and biggest loss the day of a Fed decision since 2001.</p>


<p>Federal&nbsp;Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to&nbsp;stockpile&nbsp;large amounts of bitcoin.</p>

<p>"We're&nbsp;not allowed to own bitcoin," Powell said at a press conference following the&nbsp;Fed's latest&nbsp;two-day policy meeting, in which&nbsp;policymakers cut rates as expected while signaling a less certain path for monetary policy in the months ahead.</p>


<p>Aeon Co (M) Bhd (KL:AEON) plans to appeal the High Court's ruling that the department store and mall operator had breached a tenancy agreement it had entered into with Betanaz Properties Sdn Bhd, a 51%-owned subsidiary of Ahmad Zaki Resources Bhd (KL:AZRB).</p>


Aeon to appeal High Court's ruling in tenancy dispute with Ahmad Zaki's unit

<p>Wall Street's main indexes were subdued in choppy trading on Wednesday, as investors anticipated an interest rate cut from the Federal Reserve in its final meeting of the year and awaited clues on what policymakers could do in 2025.</p>


Wall Street muted as caution prevails ahead of Fed decision

<p>SD Guthrie will issue an official notice directing cattle farmers unlawfully occupying its land to relocate their livestock from the company’s plantation in Sabak Bernam by Jan 31.</p>

<p>Selangor Rural Development, Unity, and Consumer Affairs Committee chairman Datuk Rizam Ismail said the decision was made during a meeting with SD Guthrie representatives on Tuesday.</p>


SD Guthrie to issue official notice to farmers to relocate livestock — Exco

<p>The Malaysian Anti-Corruption Commission (MACC) in Penang has arrested an enforcement officer for allegedly soliciting a bribe of around RM80,000 from a woman.</p>

<p>According to an MACC source, the 40-something male suspect contacted the woman on Nov 30 following the arrest of her husband and demanded a bribe, claiming it was to help release her husband, who was detained under the Security Offences (Special Measures) Act (SOSMA 2012).</p>


<p>The Federal Reserve’s waning enthusiasm for rate cuts jarred US markets Wednesday, sending stocks lower and pushing Treasury yields and the dollar sharply higher. It was the worst loss for the S&amp;P 500 on the day of a rate decision since 2001.</p>


<p>Malaysia will “double down” on its strategy of deepening trade and collaboration with other countries in 2025, guided by three fundamental tenets of how Malaysia deals with the world, said Economy Minister Rafizi Ramli.&nbsp;</p>

<p>The three fundamental tenets are breakout development priority, good neighbour principle and “beyond-trade thinking”.</p>


Malaysia to double down on collaboration, trade with other countries next year — Rafizi

<p>South Malaysia Industries (KL:SMI) insisted again on Wednesday that no extraordinary general meeting (EGM) of the company will take place on Jan 9,&nbsp; amid ongoing clashes between two shareholder groups vying for control of SMI.</p>


<p>Distressed Hong Kong property firm New World Development Co is in talks with banks to extend the due dates of some bilateral loans, people familiar with the matter said, adding to concerns over its ability to service one of the heaviest debt loads of its kind.</p>


Hong Kong builder New World seeking banks' extension of due dates of loans — Bloomberg

<p>The police have issued a stern warning to the public to avoid approaching the site of the Sungai Kelantan riverbank collapse near a condominium and hotel on Jalan Post Office Lama here.</p>


Public warned to stay away from collapsed Sungai Kelantan riverbank 

<p>Malaysia-China economic ties have continued to strengthen, with bilateral trade reaching nearly US$98 billion (RM437.8 billion) in the 11 months of 2024, matching the total trade volume for all of 2023.</p>


Zafrul: Malaysia-China trade nears US$98b in first eleven months of 2024

<p>The&nbsp;Federal Reserve&nbsp;has spoken, and as far as investors are concerned, the message was clear - clearly hawkish. Now it's over to the&nbsp;Bank of Japan&nbsp;and&nbsp;Bank of England, the two biggest and most important of the clutch of central bank policy decisions on Thursday.</p>


<p>The clean-tech venture firm founded by Bill Gates is providing a US$40 million (RM178.7 million) grant to carbon-capture startup Deep Sky Corp, which seeks to build large-scale facilities to clean carbon from the air.</p>


Bill Gates-backed fund bets US$40m on carbon removal firm Deep Sky

<p>The Ministry of Finance (MOF) has found that instances of using cryptocurrency as a medium for money laundering in Malaysia are low.</p>

<p>Deputy Finance Minister Lim Hui Ying said that this conclusion was based on the latest Virtual Assets Risk Assessment conducted by the National Coordination Committee to Counter Money Laundering (NCC) based on observations from the Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM).</p>
