<div class=newsTextDataWrapInner>KUALA LUMPUR (Aug 6): RHB Retail Research said Redtone International Bhd’s multi-week retracement may have reached an interim low.</div>

<div class=newsTextDataWrapInner>In a trading stocks note today, the research house said a positive bias may emerge above 35.5 sen with resistance eyed at 39 sen followed by 41 sen.</div>

<div class=newsTextDataWrapInner>“A stop-loss can be placed below 35.5 sen,” it said.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>&nbsp;</div>

KUALA LUMPUR (Aug 6): RHB Retail Research said Redtone International Bhd’s multi-week retracement may have reached an interim low.

In a trading stocks note today, the research house said a positive bias may emerge above 35.5 sen with resistance eyed at 39 sen followed by 41 sen.

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Redtone’s retracement may have reached an interim low, says RHB Retail Research

Exchange-traded funds that buy Chinese stocks continue to see outflows amid rising concerns over the nation’s growth outlook and the risk of new tariffs under a Donald Trump administration.

China ETF outflows increase as traders flee on Trump tariff risk

Oil steadied after the biggest gain in more than five weeks as the dollar weakened and a risk-on tone swept across wider markets.

Oil steady after biggest gain in over five weeks on weak dollar

(Nov 19): US President Joe Biden pledged a $4 billion U.S. contribution to the World Bank's International Development Association fund for the world's poorest countries, a senior Biden administration official said on Monday.

Biden announced the three-year U.S. pledge during a close...

Biden pledges record $4 billion to World Bank fund for poorest countries

Asian equities are poised to track Wall Street stocks higher as Treasuries halted a selloff that drove 10-year yields near 4.5%. Traders were also closely watching news around President-elect Donald Trump’s administration.

Asian stocks set to track us higher as US bonds gain

Stocks climbed as Treasuries halted a selloff that drove 10-year yields near 4.5%, with traders keeping a close eye on news around President-elect Donald Trump’s administration.

Nasdaq 100 halts five-day slide as US Treasuries gain

Confidence among US homebuilders advanced to a seven-month high in November on a jump in sales expectations and optimism a Trump administration will ease regulatory burdens.

A gauge of housing market conditions from the National Association of Home Builders (NAHB) and Wells Fargo climbed three points to 46 this month, exceeding all estimates in a Bloomberg survey of economists.

US homebuilder sentiment reaches seven-month high after election

An undersea data cable connecting Finland and Germany was severed in the early hours of Monday by what was likely an external impact, authorities in the Nordic country said.

The 1,200km (750-mile) high-speed fibre optic Helsinki-Rostock link serving data centres is damaged in the Baltic Sea east of southern Sweden, and there’s a high likelihood that it’s completely cut as all of its fibre connections are down, executives of its owner and operator Cinia Oy said at a news conference.

Finland says subsea Germany link serving data centres is cut

The only alternative to the UN Palestinian relief agency in Gaza is to allow Israel to run services there, its chief said on Monday, repeating calls for states to resist an Israeli ban.

No alternative to UNRWA in Gaza besides Israel, says agency chief 

Brazil's President Luiz Inacio Lula da Silva opened the summit of the Group of 20 (G20) major economies on Monday with the launch of a global alliance to combat poverty and hunger that 81 countries have agreed to back.

G20 summit kicks off with global pact to fight hunger, poverty

Oil prices rose on news on Monday that output at Norway's giant Johan Sverdrup oilfield has been halted, adding to earlier gains stemming from escalation in the Russia-Ukraine war.

Oil prices rise on Sverdrup outage, Ukraine war escalation

Businessman Chung Chee Yang, who emerged as Cape EMS Bhd’s (KL:CEB) substantial shareholder last week, has mopped up an additional 3.39 million shares in the company.

Cape EMS’s new substantial shareholder Chung Chee Yang continues to raise stake

Here is a brief recap of some corporate announcements that made the news on Monday.

CelcomDigi, Ajinomoto, Master Tec, TMC Life Sciences, Perak Transit, UEM Sunrise, EA Technique, AWC, Johor Plantations, Berjaya Corp, REDtone, Mercury Industries, TCS Group, MMAG, Pecca, and OM Holdings

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

EVENING 5: Five things you need to know today

Pecca Group Bhd (KL:PECCA) has on Monday declared a special dividend of 1.5 sen per share for the financial year ended June 30, 2024 (FY2024), which amounts to RM11.28 million.

Pecca declares 1.5 sen special dividend, total dividend amounts to 6.5 sen per share

Berjaya Corp Bhd (KL:BJCORP), or BCorp, said it has sold 32 million shares or 4.14% equity stake in REDtone Digital Bhd (KL:REDTONE) on Monday, for RM29.76 million in cash.

BCorp trims 4.14% stake in REDtone, to book RM7.7m gain

Wall Street's main indexes were mixed on Monday, as investors looked ahead to earnings from AI-chip leader Nvidia following a rout the previous week on apprehensions about Donald Trump's cabinet appointments and the central bank's policy path.

Wall Street indexes mixed; Nvidia earnings, Fed policy in focus

Electrical engineering services provider HE Group Bhd (KL:HEGROUP)&nbsp; which was listed on the ACE Market in January, reported a 32.38% jump in its third quarter net profit, thanks to increased contribution from higher-margin projects, particularly in the electrical equipment hook-up and retrofitting segment.

HE Group’s 3Q profit jumps 32% on higher-margin projects

Pharmaceutical company YSP Southeast Asia Holding Bhd (KL:YSPSAH)’s net profit fell 41.9% to RM3.47 million in the third quarter ended Sept 30, 2024 (3QFY2024), from RM5.98 million a year ago, dragged by foreign exchange (forex) loss and lower sales.

YSP's 3Q profit falls 42% on forex losses, lower sales

Industrial automation and power systems provider Swift Energy Technology Bhd has entered into an underwriting agreement with M&amp;A Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

ACE Market-bound Swift Energy inks underwriting agreement with M&A Securities

Perak Transit Bhd’s (KL:PTRANS) net profit grew 6.72% year-on-year to a record high in the third quarter, thanks mainly to higher fees received from terminal development services as well as rental income and revenue sharing contributions from its terminals’ tenants.

The integrated public transportation terminal (IPTT) operator’s net profit for the three months ended Sept 30, 2024 (3QFY2024) rose to RM17.71 million — up 6.72% from RM16.6 million a year ago — marginally eclipsing its previous quarterly record earnings of RM17.69 million in 2QFY2024, according to the company’s bourse filing.

Perak Transit’s 3Q net profit up 6.7%; declares 0.5 sen dividend

The new leadership change in the US is expected to affect the global trade landscape, particularly in trade relations between the US and China.

The Ministry of Investment, Trade and Industry (Miti) said that should the geopolitical issues continue, there is a greater opportunity for other countries such as Malaysia to become alternative destinations for multinational companies to increase or start their investments.

US-China trade war can boost Malaysia's chances to be multinational investment destination — Miti

An undersea data cable connecting Finland and Germany was severed in the early hours of Monday by what was likely an external impact, authorities in the Nordic country said.

The 1,200km (750-mile) high-speed fibre optic Helsinki-Rostock link serving data centres is damaged in the Baltic Sea east of southern Sweden, and there’s a high likelihood that it’s completely cut as all of its fibre connections are down, executives of its owner and operator Cinia Oy said at a news conference.

Jadi Imaging Holdings Bhd (KL:JADI) has proposed a share capital reduction to wipe out RM63 million of the company’s accumulated losses.

Jadi Imaging proposes RM63 mil share capital reduction

Members of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for self-driving vehicles one of the Transportation Department’s priorities, according to people familiar with the matter.

Trump team is seeking to ease US rules for self-driving cars, Bloomberg reports

The government will continue to provide incentives for the development of electric vehicle (EV) charging infrastructure, even though these incentives were not specifically mentioned in Budget 2025.

Miti: Govt provides incentives for EV charging infrastructure development

Oil prices rose on news on Monday that output at Norway's giant Johan Sverdrup oilfield has been halted, adding to earlier gains stemming from escalation in the Russia-Ukraine war.

Keir Starmer pushed for “respectful” UK relations with China, even as he raised frictions including over sanctioned parliamentarians and the trial in Hong Kong of former media mogul Jimmy Lai in the first meeting between a British premier and President Xi Jinping in almost seven years.

Starmer raises Jimmy Lai in meeting with Xi aimed at closer UK-China economic ties

The government has introduced various initiatives and incentives to enhance the capacity of the local automotive industry, aiming to increase exports of vehicles, including spare parts and components, according to the Ministry of Investment, Trade, and Industry (Miti).

Govt offers various initiatives, incentives to drive local automotive industry, says Miti

The closure of a few Malaysian Palm Oil Board (MPOB) offices abroad will not affect efforts to deal with the anti-palm oil campaign and the negative perception of the commodity in the international market, said Deputy Plantation and Commodities Minister Datuk Chan Foong Hin.

He said the ministry has taken a strategic approach, including focusing on promotional efforts and diplomatic relations with international platforms, as well as establishing cooperation with strategic partners and non-governmental organisations to promote palm oil.

Efforts to deal with anti-palm oil campaign remain despite MPOB office closures abroad — Chan

A German court said on Monday that Facebook users whose data was illegally obtained in 2018 and 2019 were eligible for compensation.